Stock Analysis on Net

AutoZone Inc. (NYSE:AZO)

$22.49

This company has been moved to the archive! The financial data has not been updated since December 18, 2023.

Analysis of Debt

Microsoft Excel

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Total Debt (Carrying Amount)

AutoZone Inc., balance sheet: debt

US$ in thousands

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
Current portion of finance lease liabilities
Long-term debt
Finance lease liabilities, less current portion
Total long-term debt and finance lease liabilities (carrying amount)

Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).

Debt item Description The company
Total long-term debt and finance lease liabilities (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. AutoZone Inc. total debt increased from 2021 to 2022 and from 2022 to 2023.

Total Debt (Fair Value)

Microsoft Excel
Aug 26, 2023
Selected Financial Data (US$ in thousands)
Long-term debt
Finance lease liabilities
Total long-term debt and finance lease liabilities (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2023-08-26).


Weighted-average Interest Rate on Debt

Weighted-average effective interest rate on long-term debt and finance lease liabilities:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2023-08-26).

1 US$ in thousands

2 Weighted-average interest rate = 100 × ÷ =


Interest Costs Incurred

AutoZone Inc., interest costs incurred

US$ in thousands

Microsoft Excel
12 months ended: Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
Interest expense, less capitalized interest
Capitalized interest
Interest expense

Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).

Debt item Description The company
Interest expense, less capitalized interest Amount of the cost of borrowed funds accounted for as interest expense for debt. AutoZone Inc. interest expense, less capitalized interest decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Capitalized interest Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. AutoZone Inc. capitalized interest decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Interest expense Total interest costs incurred during the period and either capitalized or charged against earnings. AutoZone Inc. interest expense decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Adjusted Interest Coverage Ratio

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
Selected Financial Data (US$ in thousands)
Net income
Add: Income tax expense
Add: Interest expense, less capitalized interest
Earnings before interest and tax (EBIT)
 
Interest expense
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (reporting date: 2023-08-26), 10-K (reporting date: 2022-08-27), 10-K (reporting date: 2021-08-28), 10-K (reporting date: 2020-08-29), 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-25).

2023 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense, less capitalized interest
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest expense
= ÷ =


Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). AutoZone Inc. adjusted interest coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.