Autozone (AZO) FY2020 results: revenue $12.6 billion, up 6.5% on the year
Autozone Inc. (AZO) reported revenue of $12.6 billion for fiscal 2020, the year ended 29 August 2020, up 6.5% on the year before. Net income was $1.7 billion, up 7.2%, and diluted earnings per share $71.93. The figures are the company's own, from the 10-K it filed with the SEC on 26 October 2020.
Revenue
$12.6 billion
+6.5% on the year
FY2013FY2020
Operating margin
19.1%
18.7% a year earlier
FY2013FY2020
Net income
$1.7 billion
+7.2% on the year
FY2013FY2020
Diluted EPS
$71.93
+13.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
12,632
11,864
11,221
+6.5%
Cost of revenue
5,861
5,499
5,247
+6.6%
Gross profit
6,771
6,365
5,974
+6.4%
Gross margin
53.6%
53.7%
53.2%
Selling, general and administrative
4,353
4,149
4,163
+4.9%
Operating income
2,418
2,216
1,811
+9.1%
Operating margin
19.1%
18.7%
16.1%
Interest expense
208
194
182
+7.4%
Pre-tax income
2,217
2,031
1,636
+9.1%
Income tax
484
414
299
+16.8%
Effective tax rate
21.8%
20.4%
18.3%
Net income
1,733
1,617
1,338
+7.2%
Net margin
13.7%
13.6%
11.9%
Diluted EPS
$71.93
$63.43
$48.77
+13.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,720
2,129
2,080
+27.8%
Capital expenditure
458
496
522
-7.7%
Free cash flow
2,262
1,632
1,559
+38.6%
Free cash flow margin
17.9%
13.8%
13.9%
Cash from investing
-498
-492
-522
Cash from financing
-644
-1,674
-1,632
Depreciation and amortisation
397
370
345
+7.4%
Share-based compensation
44.8
43.3
43.7
+3.7%
Buybacks
931
2,005
1,592
-53.6%
Diluted shares, weighted
24m
25m
27m
-5.5%
Shares outstanding at period end
n/a
n/a
26m
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-878
-1,714
-1,520
Debt
5,550
5,230
5,025
+6.1%
Operating lease liabilities
2,502
0.0
n/a
Finance lease liabilities
156
n/a
n/a
Other liabilities
7,094
6,380
5,842
+11.2%
Total liabilities and equity
14,424
9,896
9,347
+45.8%
Fixed assets
4,509
4,399
4,218
+2.5%
Goodwill
303
303
303
0.0%
Intangible assets
1.4
5.6
9.8
-74.3%
Securities held for sale or to maturity
147
139
n/a
+6.0%
Cash and equivalents
1,751
176
218
+893.1%
Receivables
365
309
258
+18.1%
Other assets
7,348
4,565
4,340
+61.0%
Total assets
14,424
9,896
9,347
+45.8%
10-K for the year ended 29 August 2020, filed 26 October 2020: the filing.