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.

Common Stock Valuation Ratios (Price Multiples) 
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

AutoZone Inc., historical price multiples (quarterly data)

Microsoft Excel
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
Price to earnings (P/E) 17.66 16.90 17.35 17.99 18.54 18.81 16.73 16.09 18.04 17.59 14.14 15.60 14.74 15.41 16.50 13.17 17.91 16.94 18.56 16.95 15.35 13.92
Price to operating profit (P/OP) 12.67 12.30 12.79 13.26 13.81 13.97 12.53 12.00 13.36 12.97 10.30 11.20 10.62 11.04 11.79 9.54 12.99 12.36 13.30 11.83 11.81 10.28
Price to sales (P/S) 2.58 2.45 2.51 2.58 2.70 2.81 2.54 2.48 2.72 2.61 2.11 2.18 2.07 2.11 2.13 1.77 2.41 2.31 2.36 2.12 1.92 1.66
Price to book value (P/BV)

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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. AutoZone Inc. P/E ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. AutoZone Inc. P/OP ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. AutoZone Inc. P/S ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.

Price to Earnings (P/E)

AutoZone Inc., historical P/E calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 17,291,904 17,683,418 18,155,969 18,397,705 18,765,671 18,981,426 19,487,599 19,848,868 20,634,396 20,967,962 21,544,752 22,036,780 22,759,106 23,175,554 23,359,376 23,352,430 23,592,711 23,827,496 24,528,705 24,887,568 25,205,125 25,559,353 26,436,100 26,900,873 27,353,015
Selected Financial Data (US$)
Net income (in thousands) 593,463 864,841 647,723 476,544 539,318 810,043 592,571 471,755 555,235 785,771 596,164 345,946 442,433 740,456 342,896 299,282 350,338 565,228 405,949 294,638 351,406 400,282 366,721 289,530 281,003
Earnings per share (EPS)2 149.35 142.98 136.24 131.46 128.62 128.00 123.43 121.36 110.65 103.51 98.63 84.94 80.19 74.78 66.69 69.41 68.50 67.87 59.21 56.78 55.86 52.33 0.00 0.00 0.00
Share price1, 3 2,637.36 2,416.54 2,363.19 2,365.00 2,384.15 2,407.52 2,064.46 1,952.75 1,996.37 1,821.09 1,394.61 1,324.76 1,181.90 1,152.00 1,100.51 913.92 1,226.74 1,149.77 1,099.14 962.23 857.24 728.22 674.39 648.49 701.01
Valuation Ratio
P/E ratio4 17.66 16.90 17.35 17.99 18.54 18.81 16.73 16.09 18.04 17.59 14.14 15.60 14.74 15.41 16.50 13.17 17.91 16.94 18.56 16.95 15.35 13.92
Benchmarks
P/E Ratio, Competitors5
Amazon.com Inc. 49.43 58.66 65.74 110.16 251.97 93.17 118.45 59.05 48.08 65.12 57.25 65.00 78.20 87.67 120.27 107.95 86.30
Home Depot Inc. 17.71 17.09 19.37 18.61 17.91 19.94 26.76 22.50 22.81 24.51 23.56 26.04 24.24 17.38 21.68 21.33 18.61 18.87
Lowe’s Cos. Inc. 18.78 17.65 19.09 15.54 14.78 17.84 20.72 20.32 20.09 22.36 21.14 22.50 21.16 11.96 30.02 33.94 30.97 37.80
TJX Cos. Inc. 23.28 25.22 27.24 21.73 22.68 22.20 31.03 35.26 53.90 881.78 103.90 92.86 38.61 17.13 22.88 21.70 20.04 21.11

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 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
EPS = (Net incomeQ1 2024 + Net incomeQ4 2023 + Net incomeQ3 2023 + Net incomeQ2 2023) ÷ No. shares of common stock outstanding
= (593,463,000 + 864,841,000 + 647,723,000 + 476,544,000) ÷ 17,291,904 = 149.35

3 Closing price as at the filing date of AutoZone Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/E ratio = Share price ÷ EPS
= 2,637.36 ÷ 149.35 = 17.66

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. AutoZone Inc. P/E ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.

Price to Operating Profit (P/OP)

AutoZone Inc., historical P/OP calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 17,291,904 17,683,418 18,155,969 18,397,705 18,765,671 18,981,426 19,487,599 19,848,868 20,634,396 20,967,962 21,544,752 22,036,780 22,759,106 23,175,554 23,359,376 23,352,430 23,592,711 23,827,496 24,528,705 24,887,568 25,205,125 25,559,353 26,436,100 26,900,873 27,353,015
Selected Financial Data (US$)
Operating profit (in thousands) 848,604 1,222,495 858,481 669,977 723,033 1,103,814 785,670 626,760 754,485 1,044,030 803,505 481,767 615,225 1,018,045 491,673 407,938 500,023 780,776 547,523 400,020 487,818 591,239 545,765 205,098 468,754
Operating profit per share2 208.16 196.45 184.80 178.42 172.62 172.31 164.77 162.67 149.45 140.43 135.46 118.29 111.29 104.32 93.34 95.76 94.45 93.01 82.62 81.36 72.60 70.85 0.00 0.00 0.00
Share price1, 3 2,637.36 2,416.54 2,363.19 2,365.00 2,384.15 2,407.52 2,064.46 1,952.75 1,996.37 1,821.09 1,394.61 1,324.76 1,181.90 1,152.00 1,100.51 913.92 1,226.74 1,149.77 1,099.14 962.23 857.24 728.22 674.39 648.49 701.01
Valuation Ratio
P/OP ratio4 12.67 12.30 12.79 13.26 13.81 13.97 12.53 12.00 13.36 12.97 10.30 11.20 10.62 11.04 11.79 9.54 12.99 12.36 13.30 11.83 11.81 10.28
Benchmarks
P/OP Ratio, Competitors5
Amazon.com Inc. 39.31 48.43 50.04 81.28 81.03 86.50 81.33 89.87 64.24 64.48 60.45 56.87 62.96 72.85 76.53 93.97 80.81 68.77
Home Depot Inc. 12.53 12.16 13.73 13.22 12.76 14.22 19.12 16.06 16.20 17.25 16.72 18.45 17.14 12.33 15.22 15.18 13.28 13.51
Lowe’s Cos. Inc. 11.78 11.18 12.38 10.76 10.29 12.45 14.46 12.77 12.57 13.52 12.50 15.21 14.04 8.11 18.48 20.49 18.51 21.77
TJX Cos. Inc. 17.90 18.15 19.26 15.06 14.90 15.32 18.99 21.99 30.54 137.02 74.61 60.02 30.12 12.69 16.79 15.73 14.53 15.31

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 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
Operating profit per share = (Operating profitQ1 2024 + Operating profitQ4 2023 + Operating profitQ3 2023 + Operating profitQ2 2023) ÷ No. shares of common stock outstanding
= (848,604,000 + 1,222,495,000 + 858,481,000 + 669,977,000) ÷ 17,291,904 = 208.16

3 Closing price as at the filing date of AutoZone Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 2,637.36 ÷ 208.16 = 12.67

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. AutoZone Inc. P/OP ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 not reaching Q3 2023 level.

Price to Sales (P/S)

AutoZone Inc., historical P/S calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 17,291,904 17,683,418 18,155,969 18,397,705 18,765,671 18,981,426 19,487,599 19,848,868 20,634,396 20,967,962 21,544,752 22,036,780 22,759,106 23,175,554 23,359,376 23,352,430 23,592,711 23,827,496 24,528,705 24,887,568 25,205,125 25,559,353 26,436,100 26,900,873 27,353,015
Selected Financial Data (US$)
Net sales (in thousands) 4,190,277 5,690,619 4,090,541 3,690,982 3,985,067 5,348,354 3,865,222 3,369,750 3,668,904 4,913,483 3,651,023 2,910,818 3,154,261 4,545,967 2,779,299 2,513,663 2,793,038 3,988,436 2,783,006 2,450,568 2,641,733 3,558,768 2,660,152 2,413,026 2,589,131
Sales per share2 1,021.43 987.21 942.66 918.03 882.91 856.22 811.66 786.10 733.93 697.71 661.97 607.64 570.90 545.06 516.90 517.21 509.27 497.90 466.15 454.49 447.28 439.02 0.00 0.00 0.00
Share price1, 3 2,637.36 2,416.54 2,363.19 2,365.00 2,384.15 2,407.52 2,064.46 1,952.75 1,996.37 1,821.09 1,394.61 1,324.76 1,181.90 1,152.00 1,100.51 913.92 1,226.74 1,149.77 1,099.14 962.23 857.24 728.22 674.39 648.49 701.01
Valuation Ratio
P/S ratio4 2.58 2.45 2.51 2.58 2.70 2.81 2.54 2.48 2.72 2.61 2.11 2.18 2.07 2.11 2.13 1.77 2.41 2.31 2.36 2.12 1.92 1.66
Benchmarks
P/S Ratio, Competitors5
Amazon.com Inc. 3.15 3.10 2.38 2.68 2.06 2.06 2.10 2.83 2.65 3.41 3.73 3.80 4.17 4.32 4.38 4.93 3.85 3.56
Home Depot Inc. 1.90 1.86 2.11 2.02 1.94 2.17 2.89 2.37 2.38 2.39 2.34 2.58 2.37 1.77 2.17 2.17 1.91 1.94
Lowe’s Cos. Inc. 1.25 1.17 1.33 1.37 1.31 1.56 1.79 1.51 1.45 1.46 1.33 1.60 1.31 0.71 1.23 1.20 1.02 1.23
TJX Cos. Inc. 1.76 1.77 1.88 1.47 1.52 1.50 1.81 2.05 2.15 2.48 2.33 1.96 1.77 1.34 1.76 1.66 1.54 1.66

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 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
Sales per share = (Net salesQ1 2024 + Net salesQ4 2023 + Net salesQ3 2023 + Net salesQ2 2023) ÷ No. shares of common stock outstanding
= (4,190,277,000 + 5,690,619,000 + 4,090,541,000 + 3,690,982,000) ÷ 17,291,904 = 1,021.43

3 Closing price as at the filing date of AutoZone Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 2,637.36 ÷ 1,021.43 = 2.58

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. AutoZone Inc. P/S ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.

Price to Book Value (P/BV)

AutoZone Inc., historical P/BV calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 17,291,904 17,683,418 18,155,969 18,397,705 18,765,671 18,981,426 19,487,599 19,848,868 20,634,396 20,967,962 21,544,752 22,036,780 22,759,106 23,175,554 23,359,376 23,352,430 23,592,711 23,827,496 24,528,705 24,887,568 25,205,125 25,559,353 26,436,100 26,900,873 27,353,015
Selected Financial Data (US$)
Stockholders’ deficit (in thousands) (5,213,671) (4,349,894) (4,301,577) (4,184,170) (3,837,923) (3,538,913) (3,387,230) (3,137,477) (2,124,750) (1,797,536) (1,763,392) (1,523,573) (1,026,980) (877,977) (1,632,736) (1,711,119) (1,776,090) (1,713,851) (1,589,513) (1,594,362) (1,658,616) (1,520,355) (1,361,603) (1,330,547) (1,525,099)
Book value per share (BVPS)2 -301.51 -245.99 -236.92 -227.43 -204.52 -186.44 -173.81 -158.07 -102.97 -85.73 -81.85 -69.14 -45.12 -37.88 -69.90 -73.27 -75.28 -71.93 -64.80 -64.06 -65.80 -59.48 -51.51 -49.46 -55.76
Share price1, 3 2,637.36 2,416.54 2,363.19 2,365.00 2,384.15 2,407.52 2,064.46 1,952.75 1,996.37 1,821.09 1,394.61 1,324.76 1,181.90 1,152.00 1,100.51 913.92 1,226.74 1,149.77 1,099.14 962.23 857.24 728.22 674.39 648.49 701.01
Valuation Ratio
P/BV ratio4
Benchmarks
P/BV Ratio, Competitors5
Amazon.com Inc. 8.60 8.84 7.21 8.54 7.00 7.25 7.67 10.46 9.44 11.60 14.19 14.68 16.93 17.86 18.40 21.50 17.47 16.11 15.45 18.11 19.84
Home Depot Inc. 819.13 187.12 255.09 1,325.66 412.02 165.73 192.67 95.58 191.69 144.66 114.03 127.78
Lowe’s Cos. Inc. 307.81 90.79 27.86 29.56 56.37 25.96 36.00 32.50 22.70 24.01 13.54 15.37 13.85
TJX Cos. Inc. 13.78 13.86 16.35 13.53 13.52 12.14 12.85 13.82 13.27 13.68 13.99 14.17 13.72 9.42 12.92 12.53 11.88 12.79 11.07 13.06 10.74

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 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
BVPS = Stockholders’ deficit ÷ No. shares of common stock outstanding
= -5,213,671,000 ÷ 17,291,904 = -301.51

3 Closing price as at the filing date of AutoZone Inc. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 2,637.36 ÷ -301.51 =

5 Click competitor name to see calculations.