Autozone (AZO) FY2019 results: revenue $11.9 billion, up 5.7% on the year
Autozone Inc. (AZO) reported revenue of $11.9 billion for fiscal 2019, the year ended 31 August 2019, up 5.7% on the year before. Net income was $1.6 billion, up 20.9%, and diluted earnings per share $63.43. The figures are the company's own, from the 10-K it filed with the SEC on 28 October 2019.
Revenue
$11.9 billion
+5.7% on the year
FY2012FY2019
Operating margin
18.7%
16.1% a year earlier
FY2012FY2019
Net income
$1.6 billion
+20.9% on the year
FY2012FY2019
Diluted EPS
$63.43
+30.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
11,864
11,221
10,889
+5.7%
Cost of revenue
5,499
5,247
5,149
+4.8%
Gross profit
6,365
5,974
5,740
+6.5%
Gross margin
53.7%
53.2%
52.7%
Selling, general and administrative
4,149
4,163
3,660
-0.3%
Operating income
2,216
1,811
2,080
+22.4%
Operating margin
18.7%
16.1%
19.1%
Interest expense
194
182
159
+6.6%
Pre-tax income
2,031
1,636
1,925
+24.1%
Income tax
414
299
645
+38.6%
Effective tax rate
20.4%
18.3%
33.5%
Net income
1,617
1,338
1,281
+20.9%
Net margin
13.6%
11.9%
11.8%
Diluted EPS
$63.43
$48.77
$44.07
+30.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,129
2,080
1,571
+2.3%
Capital expenditure
496
522
554
-4.9%
Free cash flow
1,632
1,559
1,017
+4.7%
Free cash flow margin
13.8%
13.9%
9.3%
Cash from investing
-492
-522
-554
Cash from financing
-1,674
-1,632
-914
Depreciation and amortisation
370
345
323
+7.2%
Share-based compensation
43.3
43.7
38.2
-1.0%
Buybacks
2,005
1,592
1,072
+25.9%
Diluted shares, weighted
25m
27m
29m
-7.0%
Shares outstanding at period end
n/a
26m
28m
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-1,714
-1,520
-1,428
Debt
5,230
5,025
5,105
+4.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
6,380
5,842
5,583
+9.2%
Total liabilities and equity
9,896
9,347
9,260
+5.9%
Fixed assets
4,399
4,218
4,031
+4.3%
Goodwill
303
303
392
0.0%
Intangible assets
5.6
9.8
52.5
-42.6%
Securities held for sale or to maturity
139
n/a
n/a
Cash and equivalents
176
218
293
-19.1%
Receivables
309
258
281
+19.7%
Other assets
4,565
4,340
4,210
+5.2%
Total assets
9,896
9,347
9,260
+5.9%
10-K for the year ended 31 August 2019, filed 28 October 2019: the filing.