Stock Analysis on Net

AutoZone Inc. (NYSE:AZO)

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

Enterprise Value to EBITDA (EV/EBITDA)

Microsoft Excel

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

AutoZone Inc., EBITDA calculation

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 2,528,426 2,429,604 2,170,314 1,732,972 1,617,221 1,337,536
Add: Income tax expense 639,188 649,487 578,876 483,542 414,112 298,793
Earnings before tax (EBT) 3,167,614 3,079,091 2,749,190 2,216,514 2,031,333 1,636,329
Add: Interest expense, less capitalized interest 318,426 197,686 200,754 206,854 192,200 180,163
Earnings before interest and tax (EBIT) 3,486,040 3,276,777 2,949,944 2,423,368 2,223,533 1,816,492
Add: Depreciation and amortization of property and equipment 497,577 442,223 407,683 397,466 369,957 345,084
Earnings before interest, tax, depreciation and amortization (EBITDA) 3,983,617 3,719,000 3,357,627 2,820,834 2,593,490 2,161,576

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).

Item Description The company
EBITDA To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. AutoZone Inc. EBITDA increased from 2021 to 2022 and from 2022 to 2023.

Enterprise Value to EBITDA Ratio, Current

AutoZone Inc., current EV/EBITDA calculation, comparison to benchmarks

Microsoft Excel
Selected Financial Data (US$ in thousands)
Enterprise value (EV) 54,277,015
Earnings before interest, tax, depreciation and amortization (EBITDA) 3,983,617
Valuation Ratio
EV/EBITDA 13.63
Benchmarks
EV/EBITDA, Competitors1
Amazon.com Inc. 16.20
Home Depot Inc. 16.28
Lowe’s Cos. Inc. 13.05
TJX Cos. Inc. 19.29
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail 20.35
EV/EBITDA, Industry
Consumer Discretionary 20.61

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

1 Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.


Enterprise Value to EBITDA Ratio, Historical

AutoZone Inc., historical EV/EBITDA calculation, comparison to benchmarks

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)
Enterprise value (EV)1 50,372,161 51,816,412 42,513,078 30,608,029 32,538,131 23,495,797
Earnings before interest, tax, depreciation and amortization (EBITDA)2 3,983,617 3,719,000 3,357,627 2,820,834 2,593,490 2,161,576
Valuation Ratio
EV/EBITDA3 12.64 13.93 12.66 10.85 12.55 10.87
Benchmarks
EV/EBITDA, Competitors4
Amazon.com Inc. 19.88 28.04 21.27 32.24
Home Depot Inc. 12.29 14.08 16.53 12.34
Lowe’s Cos. Inc. 11.98 12.43 14.41 8.98
TJX Cos. Inc. 15.36 13.00 65.35 10.33 12.61
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail 17.44 20.13 20.16 24.23
EV/EBITDA, Industry
Consumer Discretionary 18.14 19.78 21.32 29.33

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).

1 See details »

2 See details »

3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 50,372,161 ÷ 3,983,617 = 12.64

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/EBITDA Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. AutoZone Inc. EV/EBITDA ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.