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AutoZone AZO Operating margin

Operating margin at other companies

Walmart
 logo
Walmart WMT
4.2%-0.2pp
O'Reilly Automotive logo
O'Reilly AutomotiveORLY
19.6%+0.4pp
Amazon logo
AmazonAMZN
11.5%+0.5pp
Lowe's Companies logo
Lowe's CompaniesLOW
11.5%-0.8pp
Copart logo
CopartCPRT
36.6%+0.8pp
Home Depot logo
Home DepotHD
12.4%-0.8pp

Other financials

Income statement

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Revenue$4.8B+8.4%
Gross profit$2.5B+7.3%
Operating income$923.8M+6.7%
Net income$641.5M+5.4%
EPS (diluted)$38.07+7.7%

Balance sheet

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Cash & equivalents$253.7M-5.6%
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$49.95B-22.3%
Enterprise value$62.33B-18.0%
P/E20.2×-4.9×
P/S2.5×-0.9×

Profitability

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Gross margin51.8%-1.2pp
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.

Based on trailing twelve months.

The official record: AutoZone’s 10-Q, filed June 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is AutoZone's operating margin?
AutoZone (AZO) reported operating margin of 18% in Q1 2026.
How has AutoZone's operating margin changed year-over-year?
AutoZone's operating margin decreased by 8.2% year-over-year, from 19.6% to 18%.
What is the long-term trend for AutoZone's operating margin?
Over 4 years (2021 to 2025), AutoZone's operating margin has grown at a -0.1% compound annual growth rate (CAGR), from 79.6% to 79.1%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.