AutoZone, Inc.
Financial Performance
AutoZone Revenue & Financials
Revenue
$20.3B (FY2026)
Market Cap
$45.8B
Net Income
$2.6B
Employees
130,000
What is AutoZone's revenue?
AutoZone had $20.3B in revenue for fiscal year 2026, up 7.4% from 2025. Net income was $2.6B.
- Latest revenue
- $20.3B (FY2026)
- Year-over-year
- +7.4%
- Growth rate (CAGR)
- 6.7% over 10 years
- Peak revenue
- $20.3B (FY2026)
- Years of data
- 11
- Employees
- 130,000
Financial Analysis
AutoZone converts steady repair demand into cash and returns almost all of it to shareholders. Fiscal 2026 operating cash flow was US$3.30 billion on net sales of US$20.34 billion, and the company pays no dividend. Since fiscal 1998 it has repurchased 156.2 million shares for US$40.5 billion, including US$2.0 billion in fiscal 2026 at an average price of US$3,496 a share, leaving 16.2 million shares outstanding at August 29, 2026. That is why per-share earnings grow faster than profit: fiscal 2026 net income rose 3.0 percent to US$2.57 billion while diluted earnings per share rose 5.3 percent to US$152.55. The buybacks are partly debt funded, so the balance sheet carries US$9.08 billion of debt and a US$2.50 billion stockholders' deficit, with adjusted debt to EBITDAR of 2.5 times and adjusted after-tax return on invested capital of 35.8 percent. AutoZone, Inc. is the leading retailer and distributor of automotive replacement parts in the Americas, maintaining a powerful market valuation frequently exceeding $40 billion.
Revenue Trend Analysis
YoY Change
+7.4%
10-Year CAGR
+6.7%
Peak Year
2026
Trend
Consistent Growth
AutoZone, Inc. has 11 full fiscal year figures on this page, compounding at +6.7% annually over 10 years. The most recent year saw a 7.4% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at $20.3B. Of 10 comparable year-over-year steps, 10 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2026 | $20.3B | — | $2.6B | +7.4% | AutoZone fiscal 2026 fourth quarter and full year results (Form 8-K Exhibit 99.1, filed 2026-09-22) Fiscal year (52 weeks) ended 2026-08-29. Net sales up 7.4 percent; net income up 3.0 percent. Figures from the September 22, 2026 earnings release filed with the SEC. |
| FY2025 | $18.9B | $3.6B | $2.5B | +2.4% | Autozone Inc annual report (SEC EDGAR, filed 2025-10-27) Fiscal year ended 2025-08-30. |
| FY2024 | $18.5B | $3.8B | $2.7B | +5.9% | Autozone Inc annual report (SEC EDGAR, filed 2025-10-27) Fiscal year ended 2024-08-31. |
| FY2023 | $17.5B | $3.5B | $2.5B | +7.4% | Autozone Inc annual report (SEC EDGAR, filed 2025-10-27) Fiscal year ended 2023-08-26. |
| FY2022 | $16.3B | $3.3B | $2.4B | +11.1% | Autozone Inc annual report (SEC EDGAR, filed 2024-10-28) Fiscal year ended 2022-08-27. |
| FY2021 | $14.6B | $2.9B | $2.2B | +15.8% | Autozone Inc annual report (SEC EDGAR, filed 2023-10-24) Fiscal year ended 2021-08-28. |
| FY2020 | $12.6B | $2.4B | $1.7B | +6.5% | Autozone Inc annual report (SEC EDGAR, filed 2022-10-24) Fiscal year ended 2020-08-29. |
| FY2019 | $11.9B | $2.2B | $1.6B | +5.7% | Autozone Inc annual report (SEC EDGAR, filed 2021-10-25) Fiscal year ended 2019-08-31. |
| FY2018 | $11.2B | $1.8B | $1.3B | +3.1% | Autozone Inc annual report (SEC EDGAR, filed 2020-10-26) Fiscal year ended 2018-08-25. |
| FY2017 | $10.9B | $2.1B | $1.3B | +2.4% | Autozone Inc annual report (SEC EDGAR, filed 2019-10-28) Fiscal year ended 2017-08-26. |
| FY2016 | $10.6B | $2.1B | $1.2B | — | Autozone Inc annual report (SEC EDGAR, filed 2018-10-24) Fiscal year ended 2016-08-27. |
Click any row to see year details.
AutoZone, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|
| FY2025ended Aug 30, 2025 | $3.1B | $1.3B | $19.4B | -$3.4B | $1.8B | Form 10-K |
| FY2024ended Aug 31, 2024 | $3B | $1.1B | $17.2B | -$4.7B | $1.9B | Form 10-K |
| FY2023ended Aug 26, 2023 | $2.9B | $796.7M | $16B | -$4.3B | $2.1B | Form 10-K |
| FY2022ended Aug 27, 2022 | $3.2B | $672.4M | $15.3B | -$3.5B | $2.5B | Form 10-K |
| FY2021ended Aug 28, 2021 | $3.5B | $621.8M | $14.5B | -$1.8B | $2.9B | Form 10-K |
| FY2020ended Aug 29, 2020 | $2.7B | $457.7M | $14.4B | -$878M | $2.3B | Form 10-K |
| FY2019ended Aug 31, 2019 | $2.1B | $496.1M | $9.9B | -$1.7B | $1.6B | Form 10-K |
| FY2018ended Aug 25, 2018 | $2.1B | $521.8M | $9.3B | -$1.5B | $1.6B | Form 10-K |
| FY2017ended Aug 26, 2017 | $1.6B | $553.8M | $9.3B | -$1.4B | $1B | Form 10-K |
| FY2016ended Aug 27, 2016 | $1.6B | $488.8M | $8.6B | -$1.8B | $1.2B | Form 10-K |
Keep researching AutoZone
AutoZone Revenue and Financial FAQ
What is AutoZone's annual revenue scale and growth trajectory?
AutoZone, Inc. reported net sales of US$20.3 billion for fiscal year 2026 (52 weeks ended August 29, 2026), up 7.4% from US$18.9 billion in fiscal 2025, and net income of US$2.57 billion.
What is AutoZone's gross margin and operating profit margin profile?
AutoZone's gross margin was 52.3% in fiscal 2026 (52.6% in fiscal 2025), and operating profit of US$3.72 billion equaled about 18.3% of net sales (about 19.1% in fiscal 2025), reflecting pricing power and private-label Duralast penetration.
What is AutoZone's famous share repurchase and capital allocation philosophy?
AutoZone puts nearly all of its free cash flow into buying back its own stock and pays no dividend. Cumulative repurchases since fiscal 1998 reached US$40.5 billion, or 156.2 million shares, leaving 16.2 million shares outstanding at August 29, 2026.
Why does AutoZone have negative accounting stockholders' equity on its balance sheet?
AutoZone's negative stockholders' equity is the intentional mathematical result of decades of large share repurchases funded by strong operating cash flow, resulting in a high adjusted after-tax Return on Invested Capital (ROIC) of 35.8% in fiscal 2026 (41.3% in fiscal 2025).
What is AutoZone's debt profile and leverage benchmark?
AutoZone had US$9.08 billion in total debt at August 29, 2026 (US$8.80 billion a year earlier), with adjusted debt to EBITDAR of 2.5x, which supports its investment-grade credit rating.
What credit rating does AutoZone carry?
Fitch Ratings affirmed AutoZone's long-term issuer default rating and unsecured debt at BBB with a stable outlook in September 2026. The company says it manages its capital structure to keep investment-grade ratings, and adjusted debt to EBITDAR was 2.5 times at the end of fiscal 2026.
How does the aging of the U.S. vehicle fleet impact AutoZone's financials?
S&P Global Mobility put the average age of U.S. cars and light trucks at a record 12.8 years in 2025, with passenger cars at 14.5 years. Older vehicles need more frequent brake, battery and suspension work, which is the main demand driver for the aftermarket.
What are AutoZone's annual capital expenditures across store openings and Mega-Hubs?
Capital spending was US$1.50 billion in fiscal 2026 (US$1.37 billion in fiscal 2025), funding 374 new stores, Mega-Hub expansion and supply chain technology.
Why is AutoZone stock so expensive?
AutoZone is legendary on Wall Street for generating massive free cash flow and using nearly all of it to aggressively buy back its own stock for decades, artificially shrinking the share count to drastically boost EPS.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "AutoZone Revenue & Financials." CorpDigest, https://corpdigest.com/company/autozone/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>AutoZone reported $20.3B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/autozone/financials" target="_blank" rel="noopener">CorpDigest — AutoZone financials</a></div>Related Financial Audits
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