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 Investments

Microsoft Excel

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Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

AutoZone Inc., adjustment to net income

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
Net income (as reported)
Add: Unrealized gains (losses) on marketable debt securities, net of taxes
Net income (adjusted)

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).


Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

AutoZone Inc., adjusted profitability ratios

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

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).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. AutoZone Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. AutoZone Inc. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

AutoZone Inc., Profitability Ratios: Reported vs. Adjusted


Adjusted Net Profit Margin

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income
Net sales
Profitability Ratio
Net profit margin1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income
Net sales
Profitability Ratio
Adjusted net profit margin2

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 Net profit margin = 100 × Net income ÷ Net sales
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Adjusted net income ÷ Net sales
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. AutoZone Inc. adjusted net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Adjusted Return on Equity (ROE)

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income
Stockholders’ deficit
Profitability Ratio
ROE1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income
Stockholders’ deficit
Profitability Ratio
Adjusted ROE2

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 ROE = 100 × Net income ÷ Stockholders’ deficit
= 100 × ÷ =

2 Adjusted ROE = 100 × Adjusted net income ÷ Stockholders’ deficit
= 100 × ÷ =


Adjusted Return on Assets (ROA)

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
As Reported
Selected Financial Data (US$ in thousands)
Net income
Total assets
Profitability Ratio
ROA1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net income
Total assets
Profitability Ratio
Adjusted ROA2

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 ROA = 100 × Net income ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Adjusted net income ÷ Total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. AutoZone Inc. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.