Price to Sales (P/S)
since 2005
Calculation
AutoZone Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Oct 24, 2023 | 2.45 | = | 2,416.54 | ÷ | 987.21 | 987.21 | = | 17,457,209 | ÷ | 17,683,418 | |
| Oct 24, 2022 | 2.81 | = | 2,407.52 | ÷ | 856.22 | 856.22 | = | 16,252,230 | ÷ | 18,981,426 | |
| Oct 25, 2021 | 2.61 | = | 1,821.09 | ÷ | 697.71 | 697.71 | = | 14,629,585 | ÷ | 20,967,962 | |
| Oct 26, 2020 | 2.11 | = | 1,152.00 | ÷ | 545.06 | 545.06 | = | 12,631,967 | ÷ | 23,175,554 | |
| Oct 28, 2019 | 2.31 | = | 1,149.77 | ÷ | 497.90 | 497.90 | = | 11,863,743 | ÷ | 23,827,496 | |
| Oct 24, 2018 | 1.66 | = | 728.22 | ÷ | 439.02 | 439.02 | = | 11,221,077 | ÷ | 25,559,353 | |
| Oct 25, 2017 | 1.48 | = | 587.40 | ÷ | 396.06 | 396.06 | = | 10,888,676 | ÷ | 27,492,520 | |
| Oct 24, 2016 | 2.04 | = | 752.94 | ÷ | 368.51 | 368.51 | = | 10,635,676 | ÷ | 28,861,394 | |
| Oct 26, 2015 | 2.30 | = | 768.07 | ÷ | 334.17 | 334.17 | = | 10,187,340 | ÷ | 30,485,243 | |
| Oct 27, 2014 | 1.86 | = | 549.72 | ÷ | 295.73 | 295.73 | = | 9,475,313 | ÷ | 32,040,703 | |
| Oct 28, 2013 | 1.60 | = | 429.84 | ÷ | 268.79 | 268.79 | = | 9,147,530 | ÷ | 34,031,760 | |
| Oct 22, 2012 | 1.57 | = | 365.80 | ÷ | 232.97 | 232.97 | = | 8,603,863 | ÷ | 36,931,946 | |
| Oct 24, 2011 | 1.63 | = | 330.19 | ÷ | 202.39 | 202.39 | = | 8,072,973 | ÷ | 39,888,099 | |
| Oct 25, 2010 | 1.43 | = | 235.12 | ÷ | 164.99 | 164.99 | = | 7,362,618 | ÷ | 44,625,787 | |
| Oct 26, 2009 | 1.01 | = | 137.46 | ÷ | 136.70 | 136.70 | = | 6,816,824 | ÷ | 49,868,736 | |
| Oct 27, 2008 | 0.91 | = | 102.88 | ÷ | 112.51 | 112.51 | = | 6,522,705 | ÷ | 57,974,097 | |
| Oct 22, 2007 | 1.26 | = | 120.16 | ÷ | 95.04 | 95.04 | = | 6,169,804 | ÷ | 64,914,833 | |
| Oct 25, 2006 | 1.31 | = | 109.27 | ÷ | 83.42 | 83.42 | = | 5,948,355 | ÷ | 71,303,691 | |
| Oct 26, 2005 | 1.07 | = | 79.50 | ÷ | 74.54 | 74.54 | = | 5,710,882 | ÷ | 76,614,649 |
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), 10-K (reporting date: 2017-08-26), 10-K (reporting date: 2016-08-27), 10-K (reporting date: 2015-08-29), 10-K (reporting date: 2014-08-30), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-25), 10-K (reporting date: 2011-08-27), 10-K (reporting date: 2010-08-28), 10-K (reporting date: 2009-08-29), 10-K (reporting date: 2008-08-30), 10-K (reporting date: 2007-08-25), 10-K (reporting date: 2006-08-26), 10-K (reporting date: 2005-08-27).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of AutoZone Inc. Annual Report.
- Share price trend
- The share price exhibited a general upward trend over the observed period. Starting at $79.5 in 2005, it showed consistent increases with minor fluctuations, reaching a peak of $2416.54 by 2023. Notably, there was a substantial increase from 2018 onwards, with the share price more than tripling from $728.22 in 2018 to over $2400 in 2023. Some intermediate years, such as 2017 and 2018, showed a decrease, but the overall long-term trajectory was positive.
- Sales per share evolution
- Sales per share steadily increased every year, reflecting consistent revenue growth on a per-share basis. Starting at $74.54 in 2005, sales per share nearly doubled by 2014 to $295.73 and continued this upward trajectory to reach $987.21 by 2023. No year-over-year decrease in sales per share was observed, indicating stable and persistent expansion in sales performance.
- Price-to-sales (P/S) ratio dynamics
- The price-to-sales ratio fluctuated throughout the period but generally increased over time. Initial values ranged around 1.07 in 2005, with some volatility in intermediate years, such as a dip to 0.91 in 2008, possibly reflecting market conditions. From 2010 onward, the P/S ratio mostly remained above 1.4, peaking at 2.81 in 2022 before slightly decreasing to 2.45 in 2023. This rising P/S ratio suggests that the market increasingly valued each dollar of sales more highly over time, potentially reflecting growing investor confidence or improved profitability margins.
- Summary of financial performance
- The combined data indicate robust growth both in market valuation and underlying sales performance. The increasing sales per share suggests operational growth, while the rising share price and P/S multiples reflect heightened investor expectations. Temporary declines in share price and P/S ratio did not disrupt the long-term upward trajectory. The data imply enhanced market sentiment toward the company's prospects and an effective ability to generate revenue growth consistently.
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Comparison to Competitors
AutoZone Inc., P/S, long-term trends, comparison to competitors
| AutoZone Inc. | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
|---|---|---|---|---|---|
| Oct 24, 2023 | 2.45 | 3.10 | 1.86 | 1.17 | 1.77 |
| Oct 24, 2022 | 2.81 | 2.06 | 2.17 | 1.56 | 1.50 |
| Oct 25, 2021 | 2.61 | 3.41 | 2.39 | 1.46 | 2.48 |
| Oct 26, 2020 | 2.11 | 4.32 | 1.77 | 0.71 | 1.34 |
| Oct 28, 2019 | 2.31 | 3.56 | 1.94 | 1.23 | 1.66 |
| Oct 24, 2018 | 1.66 | 3.43 | 2.01 | 1.02 | 1.47 |
| Oct 25, 2017 | 1.48 | 3.89 | 1.88 | 1.08 | 1.53 |
| Oct 24, 2016 | 2.04 | 2.90 | 1.85 | 1.15 | 1.68 |
| Oct 26, 2015 | 2.30 | 2.58 | 1.77 | 1.26 | 1.65 |
| Oct 27, 2014 | 1.86 | 1.85 | 1.38 | 0.93 | 1.57 |
| Oct 28, 2013 | 1.60 | 2.21 | 1.39 | 0.82 | 1.33 |
| Oct 22, 2012 | 1.57 | 2.03 | 1.08 | 0.75 | 1.27 |
| Oct 24, 2011 | 1.63 | 1.70 | 0.89 | 0.73 | 0.89 |
| Oct 25, 2010 | 1.43 | 2.26 | 0.83 | 0.74 | 0.87 |
| Oct 26, 2009 | 1.01 | 2.27 | 0.59 | 0.56 | 0.56 |
| Oct 27, 2008 | 0.91 | 1.31 | 0.64 | 0.74 | 0.77 |
| Oct 22, 2007 | 1.26 | 2.11 | 0.80 | 1.02 | 0.69 |
| Oct 25, 2006 | 1.31 | 1.56 | 1.11 | 1.17 | 0.73 |
| Oct 26, 2005 | 1.07 | 1.93 | 1.11 | 1.14 | 0.79 |
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), 10-K (reporting date: 2017-08-26), 10-K (reporting date: 2016-08-27), 10-K (reporting date: 2015-08-29), 10-K (reporting date: 2014-08-30), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-25), 10-K (reporting date: 2011-08-27), 10-K (reporting date: 2010-08-28), 10-K (reporting date: 2009-08-29), 10-K (reporting date: 2008-08-30), 10-K (reporting date: 2007-08-25), 10-K (reporting date: 2006-08-26), 10-K (reporting date: 2005-08-27).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
AutoZone Inc., P/S, long-term trends, comparison to sector (consumer discretionary distribution & retail)
| AutoZone Inc. | Consumer Discretionary Distribution & Retail | |
|---|---|---|
| Oct 24, 2023 | 2.45 | 2.59 |
| Oct 24, 2022 | 2.81 | 1.99 |
| Oct 25, 2021 | 2.61 | 2.94 |
| Oct 26, 2020 | 2.11 | 3.23 |
| Oct 28, 2019 | 2.31 | 2.73 |
| Oct 24, 2018 | 1.66 | 2.56 |
| Oct 25, 2017 | 1.48 | 2.67 |
| Oct 24, 2016 | 2.04 | 2.16 |
| Oct 26, 2015 | 2.30 | 1.97 |
| Oct 27, 2014 | 1.86 | 1.47 |
| Oct 28, 2013 | 1.60 | 1.52 |
| Oct 22, 2012 | 1.57 | 1.30 |
| Oct 24, 2011 | 1.63 | 1.06 |
| Oct 25, 2010 | 1.43 | 1.10 |
| Oct 26, 2009 | 1.01 | 0.83 |
| Oct 27, 2008 | 0.91 | 0.76 |
| Oct 22, 2007 | 1.26 | 0.96 |
| Oct 25, 2006 | 1.31 | 1.12 |
| Oct 26, 2005 | 1.07 | 1.14 |
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), 10-K (reporting date: 2017-08-26), 10-K (reporting date: 2016-08-27), 10-K (reporting date: 2015-08-29), 10-K (reporting date: 2014-08-30), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-25), 10-K (reporting date: 2011-08-27), 10-K (reporting date: 2010-08-28), 10-K (reporting date: 2009-08-29), 10-K (reporting date: 2008-08-30), 10-K (reporting date: 2007-08-25), 10-K (reporting date: 2006-08-26), 10-K (reporting date: 2005-08-27).
Comparison to Industry (Consumer Discretionary)
AutoZone Inc., P/S, long-term trends, comparison to industry (consumer discretionary)
| AutoZone Inc. | Consumer Discretionary | |
|---|---|---|
| Oct 24, 2023 | 2.45 | 2.63 |
| Oct 24, 2022 | 2.81 | 2.27 |
| Oct 25, 2021 | 2.61 | 3.58 |
| Oct 26, 2020 | 2.11 | 3.81 |
| Oct 28, 2019 | 2.31 | 2.33 |
| Oct 24, 2018 | 1.66 | 2.05 |
| Oct 25, 2017 | 1.48 | 2.06 |
| Oct 24, 2016 | 2.04 | 1.68 |
| Oct 26, 2015 | 2.30 | 1.57 |
| Oct 27, 2014 | 1.86 | 1.32 |
| Oct 28, 2013 | 1.60 | 1.33 |
| Oct 22, 2012 | 1.57 | 1.06 |
| Oct 24, 2011 | 1.63 | 0.97 |
| Oct 25, 2010 | 1.43 | 0.96 |
| Oct 26, 2009 | 1.01 | 0.92 |
| Oct 27, 2008 | 0.91 | 0.66 |
| Oct 22, 2007 | 1.26 | 0.79 |
| Oct 25, 2006 | 1.31 | 0.86 |
| Oct 26, 2005 | 1.07 | 0.79 |
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), 10-K (reporting date: 2017-08-26), 10-K (reporting date: 2016-08-27), 10-K (reporting date: 2015-08-29), 10-K (reporting date: 2014-08-30), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-25), 10-K (reporting date: 2011-08-27), 10-K (reporting date: 2010-08-28), 10-K (reporting date: 2009-08-29), 10-K (reporting date: 2008-08-30), 10-K (reporting date: 2007-08-25), 10-K (reporting date: 2006-08-26), 10-K (reporting date: 2005-08-27).