Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
AutoZone Inc., liquidity ratios
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).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | AutoZone Inc. current ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | AutoZone Inc. quick ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | AutoZone Inc. cash ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Current Ratio
AutoZone Inc., current ratio calculation, comparison to benchmarks
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Current assets | 6,779,426) | 6,627,984) | 6,415,303) | 6,811,872) | 5,028,685) | 4,635,869) | |
| Current liabilities | 8,511,856) | 8,588,393) | 7,369,754) | 6,283,091) | 5,512,141) | 5,028,681) | |
| Liquidity Ratio | |||||||
| Current ratio1 | 0.80 | 0.77 | 0.87 | 1.08 | 0.91 | 0.92 | |
| Benchmarks | |||||||
| Current Ratio, Competitors2 | |||||||
| Amazon.com Inc. | 1.05 | 0.94 | 1.14 | 1.05 | 1.10 | — | |
| Home Depot Inc. | 1.41 | 1.01 | 1.23 | 1.08 | 1.11 | — | |
| Lowe’s Cos. Inc. | 1.10 | 1.02 | 1.19 | 1.01 | 0.98 | — | |
| TJX Cos. Inc. | 1.21 | 1.27 | 1.46 | 1.24 | 1.53 | — | |
| Current Ratio, Sector | |||||||
| Consumer Discretionary Distribution & Retail | 1.10 | 0.98 | 1.17 | 1.06 | 1.10 | — | |
| Current Ratio, Industry | |||||||
| Consumer Discretionary | 1.18 | 1.14 | 1.24 | 1.18 | 1.08 | — | |
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 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 6,779,426 ÷ 8,511,856 = 0.80
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | AutoZone Inc. current ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Quick Ratio
AutoZone Inc., quick ratio calculation, comparison to benchmarks
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Cash and cash equivalents | 277,054) | 264,380) | 1,171,335) | 1,750,815) | 176,300) | 217,824) | |
| Accounts receivable | 520,385) | 504,886) | 378,392) | 364,774) | 308,995) | 258,136) | |
| Current marketable debt securities | 39,639) | 49,768) | 46,007) | 76,118) | 67,958) | 59,444) | |
| Total quick assets | 837,078) | 819,034) | 1,595,734) | 2,191,707) | 553,253) | 535,404) | |
| Current liabilities | 8,511,856) | 8,588,393) | 7,369,754) | 6,283,091) | 5,512,141) | 5,028,681) | |
| Liquidity Ratio | |||||||
| Quick ratio1 | 0.10 | 0.10 | 0.22 | 0.35 | 0.10 | 0.11 | |
| Benchmarks | |||||||
| Quick Ratio, Competitors2 | |||||||
| Amazon.com Inc. | 0.81 | 0.69 | 0.86 | 0.83 | 0.83 | — | |
| Home Depot Inc. | 0.26 | 0.20 | 0.47 | 0.23 | 0.22 | — | |
| Lowe’s Cos. Inc. | 0.09 | 0.07 | 0.28 | 0.06 | 0.05 | — | |
| TJX Cos. Inc. | 0.59 | 0.64 | 1.01 | 0.50 | 0.61 | — | |
| Quick Ratio, Sector | |||||||
| Consumer Discretionary Distribution & Retail | 0.68 | 0.57 | 0.77 | 0.68 | 0.65 | — | |
| Quick Ratio, Industry | |||||||
| Consumer Discretionary | 0.84 | 0.81 | 0.92 | 0.89 | 0.77 | — | |
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 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 837,078 ÷ 8,511,856 = 0.10
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | AutoZone Inc. quick ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Cash Ratio
AutoZone Inc., cash ratio calculation, comparison to benchmarks
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||
| Cash and cash equivalents | 277,054) | 264,380) | 1,171,335) | 1,750,815) | 176,300) | 217,824) | |
| Current marketable debt securities | 39,639) | 49,768) | 46,007) | 76,118) | 67,958) | 59,444) | |
| Total cash assets | 316,693) | 314,148) | 1,217,342) | 1,826,933) | 244,258) | 277,268) | |
| Current liabilities | 8,511,856) | 8,588,393) | 7,369,754) | 6,283,091) | 5,512,141) | 5,028,681) | |
| Liquidity Ratio | |||||||
| Cash ratio1 | 0.04 | 0.04 | 0.17 | 0.29 | 0.04 | 0.06 | |
| Benchmarks | |||||||
| Cash Ratio, Competitors2 | |||||||
| Amazon.com Inc. | 0.53 | 0.45 | 0.68 | 0.67 | 0.63 | — | |
| Home Depot Inc. | 0.12 | 0.08 | 0.34 | 0.12 | 0.11 | — | |
| Lowe’s Cos. Inc. | 0.09 | 0.07 | 0.28 | 0.06 | 0.05 | — | |
| TJX Cos. Inc. | 0.53 | 0.59 | 0.97 | 0.45 | 0.55 | — | |
| Cash Ratio, Sector | |||||||
| Consumer Discretionary Distribution & Retail | 0.44 | 0.37 | 0.61 | 0.54 | 0.49 | — | |
| Cash Ratio, Industry | |||||||
| Consumer Discretionary | 0.57 | 0.55 | 0.71 | 0.70 | 0.56 | — | |
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 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 316,693 ÷ 8,511,856 = 0.04
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | AutoZone Inc. cash ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |