AutoZone (AZO) 10-K Summary — Year Ended Aug 26, 2023
AutoZone is an automotive parts retailer. Its financial performance showed revenue growth and improved profitability, but cash from operations declined.
Key takeaway
Year ended Aug 26, 2023 · FY2025 10-K
AutoZone is an automotive parts retailer. Its financial performance showed revenue growth and improved profitability, but cash from operations declined.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$17.5B
Revenue reported for the fiscal year.
Operating income
$3.5B
Income from operations reported for the year.
Net income
$2.5B
Net income reported for the year.
Operating cash flow
$2.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Aug 28, 2021 | $14.6B | n/a |
| Aug 27, 2022 | $16.3B | +11.1% |
| Aug 26, 2023 | $17.5B | +7.4% |
Business overview
AutoZone sells automotive parts, products, and accessories through its network of stores and websites. The company focuses on both do-it-yourself and commercial customers. Its operations include store development, marketing, and supply chain management.
Financial performance
For the most recent fiscal year, the company reported higher revenue and operating income compared to the prior year. Net income also increased. However, cash generated from operating activities decreased.
Material risks
The filing acknowledges the presence of risk factors, but the supplied excerpt does not provide specific details. Therefore, no specific risks can be identified from the given context.
Liquidity and capital
The company's primary liquidity source is cash flows from sales of automotive parts. It also has access to a revolving credit facility. The company uses its cash for operations, strategic investments, and share repurchases. Operating cash flow declined in the most recent period.
What to watch
Monitor the trend in operating cash flow, as it decreased compared to the prior year.