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AutoZone Inc - Stock Quote AZO

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Morningstar's AutoZone Inc Stock Analysis

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Is it the right time to buy or sell?

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Commercial Segment Drives Solid Quarter for AutoZone; Shares Somewhat Rich

Zain Akbari, CFA Equity Analyst

Analyst Note

| Zain Akbari, CFA |

Our $1,690 per share valuation of narrow-moat AutoZone should rise by a mid-single-digit percentage, in line with the shares’ trading uptick after the firm announced strong third-quarter (ended May 7) earnings. The planned uptick stems from strong quarterly sales (up 6%). We still expect mid-single-digit top-line annual growth rates and roughly 20% operating margins in the long term. We view AutoZone favorably, but we suggest investors await a more attractive entry point.

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AutoZone Inc's Company Profile

Business Description

AutoZone is the premier seller of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in the United States. The company derives an increasing proportion of its sales from domestic commercial customers, although its presence in its home market is still dominated by its do-it-yourself operation, which accounts for nearly 75% of sales in country. AutoZone also has a growing presence in Mexico and Brazil. AutoZone had 6,767 stores in the U.S. (6,051), Mexico (664), and Brazil (52) as of the end of fiscal 2021.

123 South Front Street
Memphis, TN, 38103
T +1 901 495-6500
Sector Consumer Cyclical
Industry Specialty Retail
Most Recent Earnings May 31, 2022
Fiscal Year End Aug 28, 2021
Stock Type Cyclical
Employees 100,000

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