What is AutoZone's free cash flow margin?

AutoZone (AZO) reported free cash flow margin of 25.6% in Q1 2021.

What does free cash flow margin mean?

How much real, spendable cash each sales dollar generates after reinvestment.

How do you interpret free cash flow margin?

A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.

How does free cash flow margin compare across companies?

Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.

AutoZone AZO Free cash flow margin

Discontinued — last reported Q3 '21

Free cash flow margin at other companies

Genuine PartsGPC

2.2%+0.7pp

Walmart WMT

1.7%-0.2pp

O'Reilly AutomotiveORLY

10.5%-1.6pp

AmazonAMZN

1.4%-1.8pp

Penske Automotive GroupPAG

1.9%-0.3pp

Lowe's CompaniesLOW

8.6%+0.6pp

Other financials

Income statement

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Revenue$4.8B+8.4%

Gross profit$2.5B+7.3%

Operating income$923.8M+6.6%

Net income$641.5M+5.4%

EPS (diluted)$38.07+7.7%

Balance sheet

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Cash & equivalents$253.7M-5.5%

Total debt$12.6B+3.6%

Total equity-$2.8B+29.9%

Total assets$20.9B+12.3%

Cash flow

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Operating cash flow$2.1B-2.1%

CapEx$997.5M+12.6%

Free cash flow$1.1B-12.3%

Valuation

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Market cap$50.03B-22.3%

Enterprise value$62.41B-18.0%

P/E20.2×-4.9×

P/S2.5×-0.9×

Profitability

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Gross margin51.8%-1.2pp

Operating margin18%-1.6pp

Net margin12.4%-1.2pp

Returns & leverage

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Return on equity-73.3%—

Debt / equity-4.5×—

Current ratio0.9×0.0×

Where this comes from

Calculated from AutoZone’s reported figures.

free cash flow/total revenue=25.6%

Based on trailing twelve months.

The official record: AutoZone’s 10-Q, filed June 11, 2021, on SEC EDGAR. View the filing →

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Questions, answered.

What is AutoZone's free cash flow margin?: AutoZone (AZO) reported free cash flow margin of 25.6% in Q1 2021.
What does free cash flow margin mean?: How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?: A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?: Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.