Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
AutoZone Inc., liquidity ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-11-18), 10-K (reporting date: 2023-08-26), 10-Q (reporting date: 2023-05-06), 10-Q (reporting date: 2023-02-11), 10-Q (reporting date: 2022-11-19), 10-K (reporting date: 2022-08-27), 10-Q (reporting date: 2022-05-07), 10-Q (reporting date: 2022-02-12), 10-Q (reporting date: 2021-11-20), 10-K (reporting date: 2021-08-28), 10-Q (reporting date: 2021-05-08), 10-Q (reporting date: 2021-02-13), 10-Q (reporting date: 2020-11-21), 10-K (reporting date: 2020-08-29), 10-Q (reporting date: 2020-05-09), 10-Q (reporting date: 2020-02-15), 10-Q (reporting date: 2019-11-23), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-04), 10-Q (reporting date: 2019-02-09), 10-Q (reporting date: 2018-11-17), 10-K (reporting date: 2018-08-25), 10-Q (reporting date: 2018-05-05), 10-Q (reporting date: 2018-02-10), 10-Q (reporting date: 2017-11-18).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | AutoZone Inc. current ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | AutoZone Inc. quick ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | AutoZone Inc. cash ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Current Ratio
AutoZone Inc., current ratio calculation (quarterly data)
| Nov 18, 2023 | Aug 26, 2023 | May 6, 2023 | Feb 11, 2023 | Nov 19, 2022 | Aug 27, 2022 | May 7, 2022 | Feb 12, 2022 | Nov 20, 2021 | Aug 28, 2021 | May 8, 2021 | Feb 13, 2021 | Nov 21, 2020 | Aug 29, 2020 | May 9, 2020 | Feb 15, 2020 | Nov 23, 2019 | Aug 31, 2019 | May 4, 2019 | Feb 9, 2019 | Nov 17, 2018 | Aug 25, 2018 | May 5, 2018 | Feb 10, 2018 | Nov 18, 2017 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Current assets | 6,956,801) | 6,779,426) | 6,708,872) | 6,794,805) | 6,633,118) | 6,627,984) | 6,254,721) | 5,903,770) | 6,349,146) | 6,415,303) | 6,224,396) | 6,326,845) | 6,836,795) | 6,811,872) | 5,397,993) | 5,300,547) | 5,156,975) | 5,028,685) | 4,971,340) | 4,997,072) | 4,814,329) | 4,635,869) | 4,671,277) | 4,826,307) | 4,717,192) | ||||||||
| Current liabilities | 8,785,622) | 8,511,856) | 8,464,947) | 8,614,618) | 8,708,989) | 8,588,393) | 8,064,076) | 7,684,645) | 8,087,893) | 7,369,754) | 7,013,249) | 6,804,271) | 6,456,703) | 6,283,091) | 5,769,076) | 5,779,560) | 5,868,236) | 5,512,141) | 5,316,889) | 5,334,303) | 5,168,172) | 5,028,681) | 4,918,336) | 4,947,228) | 5,067,640) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||
| Current ratio1 | 0.79 | 0.80 | 0.79 | 0.79 | 0.76 | 0.77 | 0.78 | 0.77 | 0.79 | 0.87 | 0.89 | 0.93 | 1.06 | 1.08 | 0.94 | 0.92 | 0.88 | 0.91 | 0.94 | 0.94 | 0.93 | 0.92 | 0.95 | 0.98 | 0.93 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 1.07 | 1.05 | 0.98 | 0.95 | 0.92 | 0.94 | 0.94 | 0.95 | 0.96 | 1.14 | 1.12 | 1.20 | 1.05 | 1.05 | 1.11 | 1.18 | 1.08 | 1.10 | 1.10 | 1.10 | 1.09 | — | — | — | — | ||||||||
| Home Depot Inc. | 1.27 | 1.41 | 1.39 | 1.18 | 1.11 | 1.01 | 1.13 | 1.06 | 1.10 | 1.23 | 1.36 | 1.30 | 1.17 | 1.08 | 1.08 | 1.10 | 1.04 | 1.11 | 1.09 | 1.13 | 1.17 | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 1.25 | 1.10 | 1.20 | 1.11 | 1.17 | 1.02 | 1.19 | 1.16 | 1.17 | 1.19 | 1.38 | 1.30 | 1.20 | 1.01 | 1.04 | 1.06 | 1.09 | 0.98 | 1.00 | 1.06 | 1.02 | — | — | — | — | ||||||||
| TJX Cos. Inc. | 1.20 | 1.21 | 1.16 | 1.17 | 1.25 | 1.27 | 1.29 | 1.33 | 1.52 | 1.46 | 1.41 | 1.51 | 2.20 | 1.24 | 1.22 | 1.25 | 1.23 | 1.53 | 1.55 | 1.64 | 1.69 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-11-18), 10-K (reporting date: 2023-08-26), 10-Q (reporting date: 2023-05-06), 10-Q (reporting date: 2023-02-11), 10-Q (reporting date: 2022-11-19), 10-K (reporting date: 2022-08-27), 10-Q (reporting date: 2022-05-07), 10-Q (reporting date: 2022-02-12), 10-Q (reporting date: 2021-11-20), 10-K (reporting date: 2021-08-28), 10-Q (reporting date: 2021-05-08), 10-Q (reporting date: 2021-02-13), 10-Q (reporting date: 2020-11-21), 10-K (reporting date: 2020-08-29), 10-Q (reporting date: 2020-05-09), 10-Q (reporting date: 2020-02-15), 10-Q (reporting date: 2019-11-23), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-04), 10-Q (reporting date: 2019-02-09), 10-Q (reporting date: 2018-11-17), 10-K (reporting date: 2018-08-25), 10-Q (reporting date: 2018-05-05), 10-Q (reporting date: 2018-02-10), 10-Q (reporting date: 2017-11-18).
1 Q1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 6,956,801 ÷ 8,785,622 = 0.79
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | AutoZone Inc. current ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Quick Ratio
AutoZone Inc., quick ratio calculation (quarterly data)
| Nov 18, 2023 | Aug 26, 2023 | May 6, 2023 | Feb 11, 2023 | Nov 19, 2022 | Aug 27, 2022 | May 7, 2022 | Feb 12, 2022 | Nov 20, 2021 | Aug 28, 2021 | May 8, 2021 | Feb 13, 2021 | Nov 21, 2020 | Aug 29, 2020 | May 9, 2020 | Feb 15, 2020 | Nov 23, 2019 | Aug 31, 2019 | May 4, 2019 | Feb 9, 2019 | Nov 17, 2018 | Aug 25, 2018 | May 5, 2018 | Feb 10, 2018 | Nov 18, 2017 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 282,981) | 277,054) | 274,916) | 301,286) | 269,790) | 264,380) | 263,044) | 239,423) | 961,125) | 1,171,335) | 975,646) | 1,026,164) | 1,664,005) | 1,750,815) | 509,118) | 152,970) | 158,089) | 176,300) | 174,058) | 195,665) | 252,086) | 217,824) | 218,386) | 288,522) | 257,677) | ||||||||
| Accounts receivable | 511,907) | 520,385) | 471,009) | 484,767) | 501,798) | 504,886) | 439,820) | 405,585) | 379,276) | 378,392) | 359,669) | 352,517) | 350,915) | 364,774) | 266,920) | 340,280) | 333,246) | 308,995) | 281,610) | 298,319) | 275,194) | 258,136) | 261,299) | 282,532) | 272,450) | ||||||||
| Total quick assets | 794,888) | 797,439) | 745,925) | 786,053) | 771,588) | 769,266) | 702,864) | 645,008) | 1,340,401) | 1,549,727) | 1,335,315) | 1,378,681) | 2,014,920) | 2,115,589) | 776,038) | 493,250) | 491,335) | 485,295) | 455,668) | 493,984) | 527,280) | 475,960) | 479,685) | 571,054) | 530,127) | ||||||||
| Current liabilities | 8,785,622) | 8,511,856) | 8,464,947) | 8,614,618) | 8,708,989) | 8,588,393) | 8,064,076) | 7,684,645) | 8,087,893) | 7,369,754) | 7,013,249) | 6,804,271) | 6,456,703) | 6,283,091) | 5,769,076) | 5,779,560) | 5,868,236) | 5,512,141) | 5,316,889) | 5,334,303) | 5,168,172) | 5,028,681) | 4,918,336) | 4,947,228) | 5,067,640) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||
| Quick ratio1 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.08 | 0.17 | 0.21 | 0.19 | 0.20 | 0.31 | 0.34 | 0.13 | 0.09 | 0.08 | 0.09 | 0.09 | 0.09 | 0.10 | 0.09 | 0.10 | 0.12 | 0.10 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 0.56 | 0.53 | 0.44 | 0.43 | 0.44 | 0.45 | 0.42 | 0.43 | 0.48 | 0.68 | 0.64 | 0.76 | 0.63 | 0.67 | 0.67 | 0.76 | 0.62 | 0.63 | 0.60 | 0.60 | 0.58 | — | — | — | — | ||||||||
| Home Depot Inc. | 0.22 | 0.26 | 0.26 | 0.18 | 0.22 | 0.20 | 0.32 | 0.30 | 0.37 | 0.47 | 0.68 | 0.69 | 0.48 | 0.23 | 0.23 | 0.26 | 0.21 | 0.22 | 0.22 | 0.31 | 0.33 | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 0.18 | 0.09 | 0.18 | 0.09 | 0.17 | 0.07 | 0.32 | 0.29 | 0.31 | 0.28 | 0.52 | 0.60 | 0.34 | 0.06 | 0.06 | 0.13 | 0.18 | 0.05 | 0.12 | 0.18 | 0.11 | — | — | — | — | ||||||||
| TJX Cos. Inc. | 0.53 | 0.59 | 0.35 | 0.40 | 0.49 | 0.64 | 0.65 | 0.77 | 0.95 | 1.01 | 0.93 | 0.92 | 0.96 | 0.50 | 0.33 | 0.39 | 0.40 | 0.61 | 0.52 | 0.63 | 0.70 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-11-18), 10-K (reporting date: 2023-08-26), 10-Q (reporting date: 2023-05-06), 10-Q (reporting date: 2023-02-11), 10-Q (reporting date: 2022-11-19), 10-K (reporting date: 2022-08-27), 10-Q (reporting date: 2022-05-07), 10-Q (reporting date: 2022-02-12), 10-Q (reporting date: 2021-11-20), 10-K (reporting date: 2021-08-28), 10-Q (reporting date: 2021-05-08), 10-Q (reporting date: 2021-02-13), 10-Q (reporting date: 2020-11-21), 10-K (reporting date: 2020-08-29), 10-Q (reporting date: 2020-05-09), 10-Q (reporting date: 2020-02-15), 10-Q (reporting date: 2019-11-23), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-04), 10-Q (reporting date: 2019-02-09), 10-Q (reporting date: 2018-11-17), 10-K (reporting date: 2018-08-25), 10-Q (reporting date: 2018-05-05), 10-Q (reporting date: 2018-02-10), 10-Q (reporting date: 2017-11-18).
1 Q1 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 794,888 ÷ 8,785,622 = 0.09
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | AutoZone Inc. quick ratio improved from Q3 2023 to Q4 2023 but then slightly deteriorated from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
Cash Ratio
AutoZone Inc., cash ratio calculation (quarterly data)
| Nov 18, 2023 | Aug 26, 2023 | May 6, 2023 | Feb 11, 2023 | Nov 19, 2022 | Aug 27, 2022 | May 7, 2022 | Feb 12, 2022 | Nov 20, 2021 | Aug 28, 2021 | May 8, 2021 | Feb 13, 2021 | Nov 21, 2020 | Aug 29, 2020 | May 9, 2020 | Feb 15, 2020 | Nov 23, 2019 | Aug 31, 2019 | May 4, 2019 | Feb 9, 2019 | Nov 17, 2018 | Aug 25, 2018 | May 5, 2018 | Feb 10, 2018 | Nov 18, 2017 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 282,981) | 277,054) | 274,916) | 301,286) | 269,790) | 264,380) | 263,044) | 239,423) | 961,125) | 1,171,335) | 975,646) | 1,026,164) | 1,664,005) | 1,750,815) | 509,118) | 152,970) | 158,089) | 176,300) | 174,058) | 195,665) | 252,086) | 217,824) | 218,386) | 288,522) | 257,677) | ||||||||
| Total cash assets | 282,981) | 277,054) | 274,916) | 301,286) | 269,790) | 264,380) | 263,044) | 239,423) | 961,125) | 1,171,335) | 975,646) | 1,026,164) | 1,664,005) | 1,750,815) | 509,118) | 152,970) | 158,089) | 176,300) | 174,058) | 195,665) | 252,086) | 217,824) | 218,386) | 288,522) | 257,677) | ||||||||
| Current liabilities | 8,785,622) | 8,511,856) | 8,464,947) | 8,614,618) | 8,708,989) | 8,588,393) | 8,064,076) | 7,684,645) | 8,087,893) | 7,369,754) | 7,013,249) | 6,804,271) | 6,456,703) | 6,283,091) | 5,769,076) | 5,779,560) | 5,868,236) | 5,512,141) | 5,316,889) | 5,334,303) | 5,168,172) | 5,028,681) | 4,918,336) | 4,947,228) | 5,067,640) | ||||||||
| Liquidity Ratio | |||||||||||||||||||||||||||||||||
| Cash ratio1 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.12 | 0.16 | 0.14 | 0.15 | 0.26 | 0.28 | 0.09 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.05 | 0.04 | 0.04 | 0.06 | 0.05 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||||
| Amazon.com Inc. | 0.56 | 0.53 | 0.44 | 0.43 | 0.44 | 0.45 | 0.42 | 0.43 | 0.48 | 0.68 | 0.64 | 0.76 | 0.63 | 0.67 | 0.67 | 0.76 | 0.62 | 0.63 | 0.60 | 0.60 | 0.58 | — | — | — | — | ||||||||
| Home Depot Inc. | 0.05 | 0.12 | 0.10 | 0.05 | 0.09 | 0.08 | 0.19 | 0.17 | 0.24 | 0.34 | 0.58 | 0.58 | 0.37 | 0.12 | 0.11 | 0.14 | 0.10 | 0.11 | 0.10 | 0.19 | 0.20 | — | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 0.18 | 0.09 | 0.18 | 0.09 | 0.17 | 0.07 | 0.32 | 0.29 | 0.31 | 0.28 | 0.52 | 0.60 | 0.34 | 0.06 | 0.06 | 0.13 | 0.18 | 0.05 | 0.12 | 0.18 | 0.11 | — | — | — | — | ||||||||
| TJX Cos. Inc. | 0.48 | 0.53 | 0.30 | 0.35 | 0.43 | 0.59 | 0.60 | 0.71 | 0.89 | 0.97 | 0.90 | 0.87 | 0.92 | 0.45 | 0.27 | 0.33 | 0.34 | 0.55 | 0.45 | 0.56 | 0.63 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2023-11-18), 10-K (reporting date: 2023-08-26), 10-Q (reporting date: 2023-05-06), 10-Q (reporting date: 2023-02-11), 10-Q (reporting date: 2022-11-19), 10-K (reporting date: 2022-08-27), 10-Q (reporting date: 2022-05-07), 10-Q (reporting date: 2022-02-12), 10-Q (reporting date: 2021-11-20), 10-K (reporting date: 2021-08-28), 10-Q (reporting date: 2021-05-08), 10-Q (reporting date: 2021-02-13), 10-Q (reporting date: 2020-11-21), 10-K (reporting date: 2020-08-29), 10-Q (reporting date: 2020-05-09), 10-Q (reporting date: 2020-02-15), 10-Q (reporting date: 2019-11-23), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-04), 10-Q (reporting date: 2019-02-09), 10-Q (reporting date: 2018-11-17), 10-K (reporting date: 2018-08-25), 10-Q (reporting date: 2018-05-05), 10-Q (reporting date: 2018-02-10), 10-Q (reporting date: 2017-11-18).
1 Q1 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 282,981 ÷ 8,785,622 = 0.03
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | AutoZone Inc. cash ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |