Autozone (AZO) FY2021 results: revenue $14.6 billion, up 15.8% on the year
Autozone Inc. (AZO) reported revenue of $14.6 billion for fiscal 2021, the year ended 28 August 2021, up 15.8% on the year before. Net income was $2.2 billion, up 25.2%, and diluted earnings per share $95.19. The figures are the company's own, from the 10-K it filed with the SEC on 25 October 2021.
Revenue
$14.6 billion
+15.8% on the year
FY2014FY2021
Operating margin
20.1%
19.1% a year earlier
FY2014FY2021
Net income
$2.2 billion
+25.2% on the year
FY2014FY2021
Diluted EPS
$95.19
+32.3% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
14,630
12,632
11,864
+15.8%
Cost of revenue
6,912
5,861
5,499
+17.9%
Gross profit
7,718
6,771
6,365
+14.0%
Gross margin
52.8%
53.6%
53.7%
Selling, general and administrative
4,773
4,353
4,149
+9.7%
Operating income
2,945
2,418
2,216
+21.8%
Operating margin
20.1%
19.1%
18.7%
Interest expense
202
208
194
-2.7%
Pre-tax income
2,749
2,217
2,031
+24.0%
Income tax
579
484
414
+19.7%
Effective tax rate
21.1%
21.8%
20.4%
Net income
2,170
1,733
1,617
+25.2%
Net margin
14.8%
13.7%
13.6%
Diluted EPS
$95.19
$71.93
$63.43
+32.3%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
3,519
2,720
2,129
+29.4%
Capital expenditure
622
458
496
+35.8%
Free cash flow
2,897
2,262
1,632
+28.0%
Free cash flow margin
19.8%
17.9%
13.8%
Cash from investing
-602
-498
-492
Cash from financing
-3,500
-644
-1,674
Depreciation and amortisation
408
397
370
+2.6%
Share-based compensation
56.1
44.8
43.3
+25.2%
Buybacks
3,378
931
2,005
+262.9%
Diluted shares, weighted
23m
24m
25m
-5.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
-1,798
-878
-1,714
Debt
5,300
5,550
5,230
-4.5%
Operating lease liabilities
2,633
2,502
0.0
+5.2%
Finance lease liabilities
186
156
n/a
+19.4%
Other liabilities
8,195
7,094
6,380
+15.5%
Total liabilities and equity
14,516
14,424
9,896
+0.6%
Fixed assets
4,857
4,509
4,399
+7.7%
Goodwill
303
303
303
0.0%
Intangible assets
n/a
1.4
5.6
Securities held for sale or to maturity
114
147
139
-22.6%
Cash and equivalents
1,171
1,751
176
-33.1%
Receivables
378
365
309
+3.7%
Other assets
7,693
7,348
4,565
+4.7%
Total assets
14,516
14,424
9,896
+0.6%
10-K for the year ended 28 August 2021, filed 25 October 2021: the filing.