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. 24.27
Home Depot Inc. 16.97
Lowe’s Cos. Inc. 13.49
TJX Cos. Inc. 18.21
EV/EBITDA, Sector
Consumer Discretionary Distribution & Retail 21.64
EV/EBITDA, Industry
Consumer Discretionary 21.36

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 26.57
Home Depot Inc. 12.29 14.08 16.53 12.34 13.36
Lowe’s Cos. Inc. 11.98 12.43 14.41 8.98 18.22
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 21.23
EV/EBITDA, Industry
Consumer Discretionary 17.94 19.55 21.16 29.01 17.75

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.