AutoZone vs Unilever: Revenue, Profit and Business Model
AutoZone reported $20.3B of revenue in FY2026 and $2.6B of net income. Unilever reported ~$57.1B of revenue in FY2025 and ~$10.7B of net income.
Latest financial snapshot
Financial summary
AutoZone
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.
Unilever
Unilever's 2025 turnover from continuing operations was ~$57.1 billion (EUR 50.5 billion), down 3.8% in reported terms because of adverse currency moves and disposals, even as underlying sales grew 3.5% with 1.5% from volume. Free cash flow was ~$6.67 billion (EUR 5.9 billion), about $757 million (EUR 670 million) of productivity savings had been delivered by the end of 2025, and the company announced a new ~$1.69 billion (EUR 1.5 billion) share buyback. Momentum improved in 2026: first-half turnover was ~$28.9 billion (EUR 25.6 billion) (up 0.5%), underlying sales grew 4.8% with 4.2% volume, Q2 underlying growth reached 5.8%, and the underlying operating margin was 20.3%. Unilever raised its full-year outlook after the H1 2026 results.
Revenue and profit by year
AutoZone
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $20.3B | $2.6B | 12.6% | +7.4% | Source |
| FY2025 | $18.9B | $2.5B | 13.2% | +2.4% | Source |
| FY2024 | $18.5B | $2.7B | 14.4% | +5.9% | Source |
| FY2023 | $17.5B | $2.5B | 14.5% | +7.4% | Source |
| FY2022 | $16.3B | $2.4B | 14.9% | +11.1% | Source |
| FY2021 | $14.6B | $2.2B | 14.8% | +15.8% | Source |
| FY2020 | $12.6B | $1.7B | 13.7% | +6.5% | Source |
| FY2019 | $11.9B | $1.6B | 13.6% | +5.7% | Source |
| FY2018 | $11.2B | $1.3B | 11.9% | +3.1% | Source |
| FY2017 | $10.9B | $1.3B | 11.8% | +2.4% | Source |
| FY2016 | $10.6B | $1.2B | 11.7% | — | Source |
Unilever
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$57.1B | ~$10.7B | 18.7% | -3.8% | Source |
| FY2024 | ~$59.3B | ~$6.5B | 10.9% | +1.5% | Source |
| FY2023 | ~$58.4B | ~$7.3B | 12.6% | -14.0% | Source |
| FY2022 | ~$67.9B | ~$8.6B | 12.7% | +14.5% | Source |
| FY2021 | ~$59.3B | ~$6.8B | 11.5% | +3.4% | Source |
| FY2020 | ~$57.3B | ~$6.3B | 11.0% | -2.4% | Source |
| FY2019 | ~$58.7B | ~$6.4B | 10.8% | +2.0% | Source |
| FY2018 | ~$57.6B | ~$10.6B | 18.4% | -5.1% | Source |
| FY2017 | ~$60.7B | ~$6.8B | 11.2% | +1.9% | Source |
| FY2016 | ~$59.6B | ~$5.9B | 9.8% | — | Source |
Where the revenue comes from
AutoZone
- Do-It-For-Me (DIFM) Commercial~28%
Domestic commercial sales to independent repair shops and local service garages were US$5.76 billion in fiscal 2026 (up 10.6%), about 28% of total net sales of US$20.34 billion.
- Do-It-Yourself (DIY) Retail
~72% (with international and other)
All other sales, about US$14.58 billion in fiscal 2026: domestic DIY retail plus stores in Mexico and Brazil, e-commerce and ALLDATA. The earnings release does not split DIY from these other sales.
- ALLDATA Software Subscriptions
Not separately disclosed
Recurring revenue from diagnostic software subscriptions for independent repair shops, providing OEM diagnostic data and repair procedures; included in the non-commercial sales figure above.
Unilever
- Power Brands
78% of 2025 turnover
Dove, Vaseline, Rexona, Sunsilk, OMO, Knorr and the other Power Brands made up 78% of turnover in 2025.
- Beauty & Wellbeing
Not formally reported
One of four business groups reported after the 2025 Ice Cream demerger; it includes prestige beauty and wellbeing supplements.
- Personal Care
Not formally reported
One of the four business groups reported after the 2025 Ice Cream demerger.
- Home Care
Not formally reported
One of the four business groups reported after the 2025 Ice Cream demerger.
- Foods
Not formally reported
Largely to be combined with McCormick in a pending transaction; it includes Unilever Food Solutions for foodservice.
Business model and strategy
AutoZone
How it makes money
AutoZone runs two connected businesses: DIY retail, where customers buy parts for their own vehicles, and DIFM (Do-It-For-Me) commercial sales to professional repair shops. Domestic commercial sales reached US$5.76 billion in fiscal 2026, up 10.6 percent, about 28 percent of total net sales of US$20.34 billion.
Growth strategy
With the U.S. store base mature, most domestic growth has to come from the professional market and from putting more inventory closer to customers. Domestic commercial sales grew 10.6 percent to US$5.76 billion in fiscal 2026, and the company added 345 commercial programs and 39 mega hubs during the year.
Competitive advantage
AutoZone's advantage is local parts availability. A customer whose car will not start cannot wait two days for delivery, so the value sits in having the part nearby: 6,863 U.S. stores backed by 172 mega hub stores that each carry 80,000 to 110,000 unique SKUs and supply the stores and commercial customers around them.
Unilever
How it makes money
Unilever makes money by manufacturing and selling branded, repeat-purchase consumer products through supermarkets, convenience stores, pharmacies, small independent shops and e-commerce. After the 2025 Ice Cream demerger it reports four business groups: Beauty & Wellbeing, Personal Care, Home Care and Foods. Its Power Brands, such as Dove, Vaseline, Rexona, Sunsilk, OMO and Knorr, made up 78% of turnover in 2025.
Growth strategy
Under Fernando Fernandez, Unilever is concentrating investment behind about 30 Power Brands, increasing marketing spend through social and influencer channels, rotating the portfolio toward premium beauty and wellbeing (2025 deals included Dr. Squatch, Wild and Minimalist), and separating lower-growth food and ice cream assets.
Competitive advantage
Unilever's advantage is a mix of trusted brands, emerging-market distribution, local manufacturing, repeat-purchase categories, Power Brand marketing scale, and deep category knowledge in personal care, home care, beauty, and foods.
Questions about AutoZone vs Unilever
Which company has higher revenue — AutoZone, Inc. or Unilever PLC?
AutoZone, Inc. reported $20.3B (FY2026), while Unilever PLC reported ~$57.1B (FY2025). By last reported revenue, Unilever PLC is the larger business, with AutoZone, Inc. reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of AutoZone, Inc. vs Unilever PLC?
AutoZone, Inc.'s market capitalisation stands at $45.8B, while Unilever PLC's is $132.5B. Unilever PLC carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to AutoZone, Inc..
Which is more financially efficient — AutoZone, Inc. or Unilever PLC?
AutoZone, Inc. generates $156k / employee in revenue per employee, while Unilever PLC generates $594k / employee. Unilever PLC shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do AutoZone, Inc. and Unilever PLC make money?
AutoZone, Inc. and Unilever PLC generate revenue in fundamentally different ways. AutoZone, Inc.: AutoZone runs two connected businesses: DIY retail, where customers buy parts for their own vehicles, and DIFM (Do-It-For-Me) commercial sales to professional repair shops. Unilever PLC: Unilever makes money by manufacturing and selling branded, repeat-purchase consumer products through supermarkets, convenience stores, pharmacies, small independent shops and e-commerce.
Which company is valued higher relative to revenue — AutoZone, Inc. or Unilever PLC?
On a price-to-sales (P/S) basis, AutoZone, Inc. trades at 2.3x P/S and Unilever PLC at 2.3x P/S. AutoZone, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Unilever PLC. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is AutoZone, Inc. bigger than Unilever PLC?
By last reported revenue, Unilever PLC (~$57.1B (FY2025)) is the larger company compared to AutoZone, Inc. ($20.3B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the AutoZone vs Unilever overview