Enterprise Value (EV)
Current Enterprise Value (EV)
AutoZone Inc., current enterprise value calculation
| Current share price (P) | $2,637.36 |
| No. shares of common stock outstanding | 17,683,418 |
| US$ in thousands | |
| Common equity (market value)1 | 46,637,539) |
| Add: Preferred stock; no shares issued (per books) | —) |
| Total equity | 46,637,539) |
| Add: Current portion of finance lease liabilities (per books) | 86,916) |
| Add: Long-term debt (per books) | 7,668,549) |
| Add: Finance lease liabilities, less current portion (per books) | 200,702) |
| Total equity and debt | 54,593,706) |
| Less: Cash and cash equivalents | 277,054) |
| Less: Current marketable debt securities | 39,639) |
| Enterprise value (EV) | 54,277,013) |
Based on: 10-K (reporting date: 2023-08-26).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 2,637.36 × 17,683,418
Historical Enterprise Value (EV)
AutoZone Inc., EV calculation
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 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of AutoZone Inc. Annual Report.
3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 2,416.54 × 17,683,418
The financial data reveals several key trends over the six-year period ending in 2023.
- Common Equity (Market Value) and Total Equity
-
Both common equity and total equity exhibit an overall upward trend from 2018 through 2022, increasing from approximately $18.6 billion to a peak of about $45.7 billion. Notably, there is a minor decline in 2023, dropping to around $42.7 billion. The parallel movement and identical values of common equity and total equity suggest no preferred equity or other equity classes impacting total equity figures.
- Total Equity and Debt
-
Total equity and debt grow significantly from roughly $23.8 billion in 2018 to a peak of approximately $52.1 billion in 2022. Similar to total equity, a decline occurs in 2023, with total equity and debt decreasing to about $50.7 billion. The growth over the years indicates increased leverage or growth in liabilities alongside equity, followed by a modest reduction in the most recent year.
- Enterprise Value (EV)
-
Enterprise value follows a trajectory paralleling total equity and debt, rising from $23.5 billion in 2018 to a high near $51.8 billion in 2022, then declining close to $50.4 billion in 2023. The consistency between total equity and debt with enterprise value suggests market valuation dynamics aligned with the company's capital structure trends.
- Summary of Trends
-
Overall, the company's capital base and market valuation experienced steady growth from 2018 until 2022, reflecting either expanded operations, increased market capitalization, or additional capital raising activities. The decrease noted in 2023 across all reported metrics points to a partial contraction in equity market value and capital employed, which could be attributed to market conditions, operational factors, or strategic financial decisions. The close alignment between the equity totals and market values implies stable equity structure without significant changes in capital instruments over this timeframe.