Analysis of Reportable Segments
AutoZone Inc. operates in 2 segments: Auto Parts Stores and Other.
Segment Profit Margin
AutoZone Inc., profit margin by reportable segment
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Auto Parts Stores | 51.82% | 52.00% | 52.55% | 53.34% | 53.32% | 53.01% |
| Other | 59.29% | 59.31% | 64.91% | 67.80% | 71.29% | 62.39% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Auto Parts Stores | Auto Parts Stores segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Other | Other segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Auto Parts Stores
AutoZone Inc.; Auto Parts Stores; segment profit margin calculation
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Gross profit | 8,885,403) | 8,301,234) | 7,556,889) | 6,617,508) | 6,209,229) | 5,805,561) |
| Net sales | 17,145,137) | 15,963,196) | 14,381,712) | 12,405,929) | 11,645,235) | 10,951,498) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 51.82% | 52.00% | 52.55% | 53.34% | 53.32% | 53.01% |
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
Segment profit margin = 100 × Gross profit ÷ Net sales
= 100 × 8,885,403 ÷ 17,145,137 = 51.82%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Auto Parts Stores | Auto Parts Stores segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Other
AutoZone Inc.; Other; segment profit margin calculation
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Gross profit | 185,019) | 171,416) | 160,896) | 153,245) | 155,772) | 168,185) |
| Net sales | 312,072) | 289,034) | 247,873) | 226,038) | 218,508) | 269,579) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 59.29% | 59.31% | 64.91% | 67.80% | 71.29% | 62.39% |
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
Segment profit margin = 100 × Gross profit ÷ Net sales
= 100 × 185,019 ÷ 312,072 = 59.29%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Other | Other segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
AutoZone Inc., ROA by reportable segment
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Auto Parts Stores | 56.72% | 55.12% | 52.48% | 46.27% | 63.48% | 62.89% |
| Other | 57.64% | 79.97% | 136.80% | 127.23% | 136.66% | 145.04% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Auto Parts Stores | Auto Parts Stores segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
| Other | Other segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Auto Parts Stores
AutoZone Inc.; Auto Parts Stores; segment ROA calculation
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Gross profit | 8,885,403) | 8,301,234) | 7,556,889) | 6,617,508) | 6,209,229) | 5,805,561) |
| Segment assets | 15,664,891) | 15,060,704) | 14,398,581) | 14,303,427) | 9,781,926) | 9,231,021) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 56.72% | 55.12% | 52.48% | 46.27% | 63.48% | 62.89% |
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
Segment ROA = 100 × Gross profit ÷ Segment assets
= 100 × 8,885,403 ÷ 15,664,891 = 56.72%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Auto Parts Stores | Auto Parts Stores segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Other
AutoZone Inc.; Other; segment ROA calculation
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Gross profit | 185,019) | 171,416) | 160,896) | 153,245) | 155,772) | 168,185) |
| Segment assets | 320,987) | 214,339) | 117,618) | 120,445) | 113,987) | 115,959) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 57.64% | 79.97% | 136.80% | 127.23% | 136.66% | 145.04% |
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
Segment ROA = 100 × Gross profit ÷ Segment assets
= 100 × 185,019 ÷ 320,987 = 57.64%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Other | Other segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover
AutoZone Inc., asset turnover by reportable segment
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Auto Parts Stores | 1.09 | 1.06 | 1.00 | 0.87 | 1.19 | 1.19 |
| Other | 0.97 | 1.35 | 2.11 | 1.88 | 1.92 | 2.32 |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Auto Parts Stores | Auto Parts Stores segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Other | Other segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Auto Parts Stores
AutoZone Inc.; Auto Parts Stores; segment asset turnover calculation
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | 17,145,137) | 15,963,196) | 14,381,712) | 12,405,929) | 11,645,235) | 10,951,498) |
| Segment assets | 15,664,891) | 15,060,704) | 14,398,581) | 14,303,427) | 9,781,926) | 9,231,021) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 1.09 | 1.06 | 1.00 | 0.87 | 1.19 | 1.19 |
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
Segment asset turnover = Net sales ÷ Segment assets
= 17,145,137 ÷ 15,664,891 = 1.09
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Auto Parts Stores | Auto Parts Stores segment asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Other
AutoZone Inc.; Other; segment asset turnover calculation
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | 312,072) | 289,034) | 247,873) | 226,038) | 218,508) | 269,579) |
| Segment assets | 320,987) | 214,339) | 117,618) | 120,445) | 113,987) | 115,959) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 0.97 | 1.35 | 2.11 | 1.88 | 1.92 | 2.32 |
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
Segment asset turnover = Net sales ÷ Segment assets
= 312,072 ÷ 320,987 = 0.97
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Other | Other segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net sales
AutoZone Inc., net sales by reportable segment
US$ in thousands
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Auto Parts Stores | 17,145,137) | 15,963,196) | 14,381,712) | 12,405,929) | 11,645,235) | 10,951,498) |
| Other | 312,072) | 289,034) | 247,873) | 226,038) | 218,508) | 269,579) |
| Total | 17,457,209) | 16,252,230) | 14,629,585) | 12,631,967) | 11,863,743) | 11,221,077) |
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).
Gross profit
AutoZone Inc., gross profit by reportable segment
US$ in thousands
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Auto Parts Stores | 8,885,403) | 8,301,234) | 7,556,889) | 6,617,508) | 6,209,229) | 5,805,561) |
| Other | 185,019) | 171,416) | 160,896) | 153,245) | 155,772) | 168,185) |
| Total | 9,070,422) | 8,472,650) | 7,717,785) | 6,770,753) | 6,365,001) | 5,973,746) |
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).
Segment assets
AutoZone Inc., segment assets by reportable segment
US$ in thousands
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | Aug 25, 2018 | |
|---|---|---|---|---|---|---|
| Auto Parts Stores | 15,664,891) | 15,060,704) | 14,398,581) | 14,303,427) | 9,781,926) | 9,231,021) |
| Other | 320,987) | 214,339) | 117,618) | 120,445) | 113,987) | 115,959) |
| Total | 15,985,878) | 15,275,043) | 14,516,199) | 14,423,872) | 9,895,913) | 9,346,980) |
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).