Stock Analysis on Net

AutoZone Inc. (NYSE:AZO)

This company has been moved to the archive! The financial data has not been updated since December 18, 2023.

Common Stock Valuation Ratios (Price Multiples)

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Current Valuation Ratios

AutoZone Inc., current price multiples

Microsoft Excel
AutoZone Inc. Amazon.com Inc. Home Depot Inc. Lowe’s Cos. Inc. TJX Cos. Inc. Consumer Discretionary Distribution & Retail Consumer Discretionary
Selected Financial Data
Current share price (P) $2,637.36
No. shares of common stock outstanding 17,683,418
 
Earnings per share (EPS) $142.98
Operating profit per share $196.45
Sales per share $987.21
Book value per share (BVPS) $-245.99
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 18.45 61.40 25.25 18.76 32.93 43.69 34.83
Price to operating profit (P/OP) 13.42 50.69 17.63 12.54 23.70 33.07 29.77
Price to sales (P/S) 2.67 3.25 2.50 1.68 2.31 2.86 2.72

Based on: 10-K (reporting date: 2023-08-26).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

AutoZone Inc., historical price multiples

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
Price to earnings (P/E) 16.90 18.81 17.59 15.41 16.94 13.92
Price to operating profit (P/OP) 12.30 13.97 12.97 11.04 12.36 10.28
Price to sales (P/S) 2.45 2.81 2.61 2.11 2.31 1.66
Price to book value (P/BV)

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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. AutoZone Inc. P/E ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. AutoZone Inc. P/OP ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. AutoZone Inc. P/S ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to Earnings (P/E)

AutoZone Inc., historical P/E calculation, comparison to benchmarks

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
No. shares of common stock outstanding1 17,683,418 18,981,426 20,967,962 23,175,554 23,827,496 25,559,353
Selected Financial Data (US$)
Net income (in thousands) 2,528,426 2,429,604 2,170,314 1,732,972 1,617,221 1,337,536
Earnings per share (EPS)2 142.98 128.00 103.51 74.78 67.87 52.33
Share price1, 3 2,416.54 2,407.52 1,821.09 1,152.00 1,149.77 728.22
Valuation Ratio
P/E ratio4 16.90 18.81 17.59 15.41 16.94 13.92
Benchmarks
P/E Ratio, Competitors5
Amazon.com Inc. 58.66 48.08 78.20 86.30
Home Depot Inc. 17.09 19.94 24.51 17.38 18.87
Lowe’s Cos. Inc. 17.65 17.84 22.36 11.96 37.80
TJX Cos. Inc. 25.22 22.20 881.78 17.13 21.11 20.19
P/E Ratio, Sector
Consumer Discretionary Distribution & Retail 39.66 63.32 40.84 49.11 48.49
P/E Ratio, Industry
Consumer Discretionary 33.22 49.21 42.77 90.47 37.76

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 2023 Calculation
EPS = Net income ÷ No. shares of common stock outstanding
= 2,528,426,000 ÷ 17,683,418 = 142.98

3 Closing price as at the filing date of AutoZone Inc. Annual Report.

4 2023 Calculation
P/E ratio = Share price ÷ EPS
= 2,416.54 ÷ 142.98 = 16.90

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. AutoZone Inc. P/E ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to Operating Profit (P/OP)

AutoZone Inc., historical P/OP calculation, comparison to benchmarks

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
No. shares of common stock outstanding1 17,683,418 18,981,426 20,967,962 23,175,554 23,827,496 25,559,353
Selected Financial Data (US$)
Operating profit (in thousands) 3,473,986 3,270,729 2,944,527 2,417,679 2,216,137 1,810,856
Operating profit per share2 196.45 172.31 140.43 104.32 93.01 70.85
Share price1, 3 2,416.54 2,407.52 1,821.09 1,152.00 1,149.77 728.22
Valuation Ratio
P/OP ratio4 12.30 13.97 12.97 11.04 12.36 10.28
Benchmarks
P/OP Ratio, Competitors5
Amazon.com Inc. 48.43 86.50 64.48 72.85 68.77
Home Depot Inc. 12.16 14.22 17.25 12.33 13.51
Lowe’s Cos. Inc. 11.18 12.45 13.52 8.11 21.77
TJX Cos. Inc. 18.15 15.32 137.02 12.69 15.31 13.54
P/OP Ratio, Sector
Consumer Discretionary Distribution & Retail 30.02 30.89 39.89 39.83 35.55
P/OP Ratio, Industry
Consumer Discretionary 28.40 27.91 43.67 67.75 29.48

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 2023 Calculation
Operating profit per share = Operating profit ÷ No. shares of common stock outstanding
= 3,473,986,000 ÷ 17,683,418 = 196.45

3 Closing price as at the filing date of AutoZone Inc. Annual Report.

4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 2,416.54 ÷ 196.45 = 12.30

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. AutoZone Inc. P/OP ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to Sales (P/S)

AutoZone Inc., historical P/S calculation, comparison to benchmarks

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
No. shares of common stock outstanding1 17,683,418 18,981,426 20,967,962 23,175,554 23,827,496 25,559,353
Selected Financial Data (US$)
Net sales (in thousands) 17,457,209 16,252,230 14,629,585 12,631,967 11,863,743 11,221,077
Sales per share2 987.21 856.22 697.71 545.06 497.90 439.02
Share price1, 3 2,416.54 2,407.52 1,821.09 1,152.00 1,149.77 728.22
Valuation Ratio
P/S ratio4 2.45 2.81 2.61 2.11 2.31 1.66
Benchmarks
P/S Ratio, Competitors5
Amazon.com Inc. 3.10 2.06 3.41 4.32 3.56
Home Depot Inc. 1.86 2.17 2.39 1.77 1.94
Lowe’s Cos. Inc. 1.17 1.56 1.46 0.71 1.23
TJX Cos. Inc. 1.77 1.50 2.48 1.34 1.66 1.47
P/S Ratio, Sector
Consumer Discretionary Distribution & Retail 2.59 1.99 2.94 3.23 2.73
P/S Ratio, Industry
Consumer Discretionary 2.59 2.26 3.57 3.76 2.31

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 2023 Calculation
Sales per share = Net sales ÷ No. shares of common stock outstanding
= 17,457,209,000 ÷ 17,683,418 = 987.21

3 Closing price as at the filing date of AutoZone Inc. Annual Report.

4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= 2,416.54 ÷ 987.21 = 2.45

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. AutoZone Inc. P/S ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Price to Book Value (P/BV)

AutoZone Inc., historical P/BV calculation, comparison to benchmarks

Microsoft Excel
Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020 Aug 31, 2019 Aug 25, 2018
No. shares of common stock outstanding1 17,683,418 18,981,426 20,967,962 23,175,554 23,827,496 25,559,353
Selected Financial Data (US$)
Stockholders’ deficit (in thousands) (4,349,894) (3,538,913) (1,797,536) (877,977) (1,713,851) (1,520,355)
Book value per share (BVPS)2 -245.99 -186.44 -85.73 -37.88 -71.93 -59.48
Share price1, 3 2,416.54 2,407.52 1,821.09 1,152.00 1,149.77 728.22
Valuation Ratio
P/BV ratio4
Benchmarks
P/BV Ratio, Competitors5
Amazon.com Inc. 8.84 7.25 11.60 17.86 16.11
Home Depot Inc. 187.12 95.58
Lowe’s Cos. Inc. 90.79 25.96 24.01
TJX Cos. Inc. 13.86 12.14 13.68 9.42 12.79 10.23
P/BV Ratio, Sector
Consumer Discretionary Distribution & Retail 11.65 11.07 14.31 20.07 19.77
P/BV Ratio, Industry
Consumer Discretionary 9.97 9.36 12.83 16.51 11.81

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 2023 Calculation
BVPS = Stockholders’ deficit ÷ No. shares of common stock outstanding
= -4,349,894,000 ÷ 17,683,418 = -245.99

3 Closing price as at the filing date of AutoZone Inc. Annual Report.

4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= 2,416.54 ÷ -245.99 =

5 Click competitor name to see calculations.