Capital investment and capacitypositive · 5 filings
“The increase in capital expenditures was primarily driven by our growth initiatives, including new stores, hub and mega hub store expansion projects .”10-Q · Jun 12, 2026 ↗
AutoZone, Inc.
AZO
Market read
AutoZone, Inc.'s current read is isolated; its market group is not confirming.
The latest filing is mixed. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
What changed
- Revenue increased 8.4% versus the comparable filing period.
- Gross margin fell 0.6 percentage points.
Company-1.4% todayVolume comparison unavailable
Market group0 of 5 activeNo Coherent Theme · unavailable
Disclosed network0 of 4 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Monitor reported capital expenditures tied to new stores, hub and mega hub expansion projects disclosed as the primary driver of higher capex.
Invalidation: The isolated read changes if AZO's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing is mixed. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 8.4% versus the comparable filing period.
Evidence that challenges
- Gross margin fell 0.6 percentage points.
What would clarify the read
- Monitor reported capital expenditures tied to new stores, hub and mega hub expansion projects disclosed as the primary driver of higher capex.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations600
Usable filing statements54
Verified relationships4
Evidence supporting the case
- Operating cash flow covered net income at 1.25x in the latest annual period.
- Capital investment and capacity has repeated favorable evidence across 5 filings.
Evidence challenging the case
- Operating margin changed -1.4 percentage points in the latest annual period.
- Net margin changed -1.2 percentage points in the latest annual period.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 9, 2026
2,909.616m-21.9%12m-31.4%24m-8.1%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-08-28$14.6B+15.8%$95.19-5.4%
2022-08-27$16.3B+11.1%$117.19-9.1%
2023-08-26$17.5B+7.4%$132.36-7.9%
2024-08-31$18.5B+5.9%$149.55-6.8%
2025-08-30$18.9B+2.4%$144.87-3.1%
What management says matters
Persistent and emerging business drivers
Foreign exchangemixed · 2 filings
“Additionally, fiscal 2025 comparisons were negatively impacted by foreign currency exchange rates which had an unfavorable impact to net sales of $273.1 million and operating profit of $88.2 million.”10-K · Oct 27, 2025 ↗
Macroeconomic conditionsmixed · 1 filings
“Due to recent price changes on the Company’s merchandise purchases, primarily due to inflation driven by tariffs, the Company’s LIFO credit reserve balance was $ 83.0 million at August 30, 2025, and $ 19.0 million at August 31, 2024.”10-K · Oct 27, 2025 ↗
Supply chain and availabilitynegative · 1 filings
“The decrease in gross margin was negatively impacted by higher supply chain costs, higher inventory shrink, and an unfavorable 20 basis point ($24.0 million net) non-cash LIFO impact, partially offset by higher merchandise margins.”10-Q · Jun 13, 2025 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
2,909.61-1.4% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 9 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for AZO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing presents a mixed picture
10-Q filed 2026-06-12 against the comparable filing from 2025-06-13.
OperationsmixedEvidence score +1
liquidityneutralEvidence score 0
valuationmixed
What improved
- Revenue increased 8.4% versus the comparable filing period.
What weakened
- Gross margin fell 0.6 percentage points.
Filing receipts
“The increase in capital expenditures was primarily driven by our growth initiatives, including new stores, hub and mega hub store expansion projects .”
“This growth was primarily driven by an increase in total company same store sales of 3.9% on a constant currency basis and net sales of $129.0 million from new domestic and international stores.”
“This growth was primarily driven by an increase in total company same store sales of 4.0% on a constant currency basis and net sales of $354.0 million from new domestic and international stores.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind AZO
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
JEFJefferies Financial Group Inc.customerJan 28, 2026 ▾
“The purchase of receivables in this fashion is called factoring, and as of the Chapter 11 filing the Point Bonita portfolio had approximately $715 million in purported receivables due from retailers, including Walmart, AutoZone, NAPA, O’Reilly Auto Parts, and…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
AZO is currently a Leader in the organic co-movement group No Coherent Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.