Interprétation IA fondée sur des extraits vérifiés. Les déclarations de l’entreprise et les limites de couverture restent explicites.
Preuves
The execution of this strategy enables us to better compete by targeting a larger base of automotive aftermarket parts consumers, capitalizing on our existing store and distribution infrastructure, operating profitably in both large markets and less densely populated geographic areas that typically attract fewer national chain competitors, and enhancing service levels offered to DIY customers through the offering of a broad inventory and the extensive product knowledge required by professional service provider customers.
Business / dual-market strategy and shared infrastructure · Dépôt 27/02/2026
In 2025, we derived approximately 50% of our sales from our DIY customers and approximately 50% of our sales from our professional service provider customers.
Business / 2025 professional and DIY sales mix · Dépôt 27/02/2026
13 We purchase automotive products in substantial quantities from over 655 suppliers, the five largest of which accounted for approximately 23% of our total purchases in 2025.
Business / purchasing scale and supplier concentration · Dépôt 27/02/2026
14 Inflation and Seasonality We have generally been successful in reducing the effects of merchandise cost increases principally by taking advantage of supplier incentive programs, economies of scale resulting from increased volume of purchases, and selective forward buying.
Inflation and Seasonality / historical procurement economies · Dépôt 27/02/2026
Our DCs stock, on average, over 156,000 SKUs and most DCs are linked to and have access to multiple other DCs’ inventory.
Business / distribution-center inventory breadth · Dépôt 27/02/2026
Our DCs provide five-night-a-week delivery, primarily via a Company-owned fleet, to substantially all of our stores.
Business / distribution delivery frequency · Dépôt 27/02/2026
In addition, stores within an individual DC’s metropolitan area receive multiple daily deliveries from the DC’s “city counter,” many of which receive this service seven days per week.
Business / metropolitan multiple daily deliveries · Dépôt 27/02/2026
The decrease in SG&A as a percentage of sales for the six months ended June 30, 2026, was principally due to leverage of store operating costs on strong comparable store sales, partially offset by inflationary pressure in costs and higher costs relating to medical and casualty insurance programs.
Results of Operations / first-half 2026 store operating cost leverage · Dépôt 07/08/2026
2025 Financial and Operating Performance Our Team’s ability to deliver sustained profitable growth is evidenced by our 2025 performance, which represents our 33rd consecutive year of comparable store sales increases and profitable growth since we became a public company in April of 1993.
Compensation Discussion and Analysis / historical operating achievements · Dépôt 27/03/2026
Comparable store sales increased 7.0% and 3.9% for the six months ended June 30, 2026 and 2025, respectively.
Results of Operations / first-half comparable-store sales · Dépôt 07/08/2026
As a result of the impacts discussed above, operating income for the six months ended June 30, 2026, increased 10% to $1.83 billion (or 19.3% of sales) from $1.66 billion (or 19.1% of sales) for the same period one year ago.
Results of Operations / first-half operating income · Dépôt 07/08/2026
Our comparable store sales increases for the three and six months ended June 30, 2026, were driven by an increase in average ticket values for both professional service provider and DIY customers and an increase in transaction counts for professional service provider customers, partially offset by a decrease in transaction counts for DIY customers.
Results of Operations / professional and DIY transaction trends · Dépôt 07/08/2026
The resulting decrease in repair frequency creates pressure on customer transaction counts; however, when repairs are needed, the cost of replacement parts is, on average, greater, which is a benefit to average ticket values.
Results of Operations / repair frequency and ticket-value tradeoff · Dépôt 07/08/2026
Our business depends on developing and maintaining close relationships with our suppliers and on our suppliers’ ability or willingness to sell quality products to us at favorable prices and terms.
Risk Factors / dependence on favorable supplier prices and terms · Dépôt 27/02/2026
Business interruptions, including from a prolonged public health crisis or pandemic, weather-related events, terrorist activities, war, political or civil unrest, disruption of critical infrastructure systems, or other disasters, or the threat of them, may result in a disruption of operations or the closure of one or more of our DCs or other facilities, or may adversely affect our ability to deliver inventory to our stores on a nightly basis.
Risk Factors / possible distribution interruptions · Dépôt 27/02/2026
If these systems are damaged or fail to function properly, we may experience loss of critical data and interruptions or delays in our ability to manage inventories, deliver product, or process customer transactions.
Risk Factors / possible inventory and transaction systems interruptions · Dépôt 27/02/2026
Average ticket values benefited from increases in average selling prices on a same-SKU basis, as compared to the same period in 2024, driven by increases in acquisition costs of inventory, principally resulting from increased tariffs, which were passed on in selling prices.
Results of Operations / 2025 same-SKU tariff cost pass-through · Dépôt 27/02/2026
Average ticket values benefited from increases in average selling prices on a same-SKU basis, as compared to the same period in 2025.
Results of Operations / 2026 realized same-SKU selling-price increases · Dépôt 07/08/2026
Gross profit for the six months ended June 30, 2026, increased 9% to $4.86 billion (or 51.5% of sales) from $4.45 billion (or 51.4% of sales) for the same period one year ago.
Results of Operations / first-half gross profit and margin · Dépôt 07/08/2026
In addition, our professional customer program also offers a proprietary ordering mobile application, business ecommerce platform called www.OReillyPro.com, dedicated Professional Service Specialists in stores, multiple daily deliveries, and access to training opportunities, shop management, maintenance supplies, and the Certified Auto Repair program, which offers professional service providers with the business tools they need to profitably grow and market their business.
Business / professional ordering, delivery and support services · Dépôt 27/02/2026
Our comparable store sales increase for the year ended December 31, 2024, was driven by an increase in average ticket value for both professional service provider and DIY customers and positive transaction counts from professional service provider customers, partially offset by negative transaction counts from DIY customers.
Results of Operations / 2024 professional and DIY transaction trends · Dépôt 28/02/2025
Our comparable store sales increase for the year ended December 31, 2023, was driven by an increase in average ticket value for both professional service provider and DIY customers and positive transaction counts from professional service provider customers, partially offset by negative transaction counts from DIY customers.
Results of Operations / 2023 professional and DIY transaction trends · Dépôt 28/02/2024
19 The following table identifies cash provided by/(used in) our operating, investing and financing activities for the six months ended June 30, 2026 and 2025 (in thousands): For the Six Months Ended June 30, Liquidity: 2026 2025 Total cash provided by/(used in): Operating activities $ 2,039,412 $ 1,511,966 Investing activities (549,675) (594,998) Financing activities (1,421,650) (850,815) Effect of exchange rate changes on cash 301 2,215 Net increase in cash and cash equivalents $ 68,388 $ 68,368 Capital expenditures $ 552,050 $ 587,685 Free cash flow (1) 1,477,816 904,008 (1) Calculated as net cash provided by operating activities, less capital expenditures, excess tax benefit from share-based compensation payments, and investment in tax credit equity investments for the period, if applicable.
Liquidity / first-half operating cash flow, capital expenditures and free cash flow · Dépôt 07/08/2026
Operating Activities: The increase in net cash provided by operating activities during the six months ended June 30, 2026, compared to the same period in 2025, was primarily due to the timing of payment for transferrable federal renewable energy tax credits and an increase in operating income, partially offset by a prepaid income taxes position at the end of the current period, versus an increase in a net taxes payable position for the same period in 2025.
Liquidity / tax-payment timing and operating cash-flow changes · Dépôt 07/08/2026
10 The following table identifies shares of the Company’s common stock that have been repurchased as part of the Company’s publicly announced share repurchase program for the three and six months ended June 30, 2026 and 2025 (in thousands, except per share data): For the Three Months Ended For the Six Months Ended June 30, June 30, 2026 2025 2026 2025 Shares repurchased 16,702 6,804 26,684 13,273 Average price per share $ 90.40 $ 90.71 $ 91.17 $ 88.65 Total investment $ 1,509,908 $ 617,184 $ 2,432,756 $ 1,176,612 As of June 30, 2026, the Company had $2.0 billion remaining under its share repurchase authorization.
Note 9 / actual first-half share repurchases · Dépôt 07/08/2026
Financing Activities: The increase in net cash used in financing activities during the six months ended June 30, 2026, compared to the same period in 2025, was attributable to an increase in repurchases of our common stock and the redemption of $500 million aggregate principal amount of senior notes, partially offset by the issuance of $850 million aggregate principal amount of senior notes in the current period and net borrowings on the Company’s commercial paper program.
Liquidity / share repurchases, debt redemption and new borrowings · Dépôt 07/08/2026
20 The table below outlines the calculations of the consolidated fixed charge coverage ratio and consolidated leverage ratio covenants, as defined in the Credit Agreement governing the Revolving Credit Facility, for the twelve months ended June 30, 2026 and 2025 (dollars in thousands): For the Twelve Months Ended June 30, 2026 2025 GAAP net income $ 2,650,374 $ 2,423,674 Add: Interest expense 252,779 225,470 Rent expense (1) 505,125 472,425 Provision for income taxes 748,155 655,250 Depreciation expense 533,595 480,914 Amortization expense 4,119 5,252 Non-cash share-based compensation 33,815 33,514 Non-GAAP EBITDAR $ 4,727,962 $ 4,296,499 Interest expense $ 252,779 $ 225,470 Capitalized interest 15,421 16,137 Rent expense (1) 505,125 472,425 Total fixed charges $ 773,325 $ 714,032 Consolidated fixed charge coverage ratio 6.11 6.02 GAAP debt $ 7,014,543 $ 5,823,744 Add: Stand-by letters of credit 197,809 162,289 Unamortized discount and debt issuance costs 30,457 26,256 Five-times rent expense 2,525,625 2,362,125 Non-GAAP adjusted debt $ 9,768,434 $ 8,374,414 Consolidated leverage ratio 2.07 1.95 (1) The table below outlines the calculation of Rent expense and reconciles Rent expense to Total lease cost, per Accounting Standard Codification 842 (“ASC 842”) the most directly comparable GAAP financial measure, for the twelve months ended June 30, 2026 and 2025 (in thousands): For the Twelve Months Ended June 30, 2026 2025 Total lease cost, per ASC 842 $ 606,667 $ 570,733 Less: Variable non-contract operating lease components, related to property taxes and insurance 101,542 98,308 Rent expense $ 505,125 $ 472,425 The table below outlines the calculation of Free cash flow and reconciles Free cash flow to Net cash provided by operating activities, the most directly comparable GAAP financial measure, for the six months ended June 30, 2026 and 2025 (in thousands): For the Six Months Ended June 30, 2026 2025 Cash provided by operating activities $ 2,039,412 $ 1,511,966 Less: Capital expenditures 552,050 587,685 Excess tax benefit from share-based compensation payments 9,546 20,273 Free cash flow $ 1,477,816 $ 904,008 Free cash flow, the consolidated fixed charge coverage ratio, and the consolidated leverage ratio discussed and presented in the tables above are not derived in accordance with United States generally accepted accounting principles (“GAAP”).
Liquidity / leverage, fixed-charge coverage and non-GAAP reconciliations · Dépôt 07/08/2026
We opened 51 and 110 net, new stores during the three and six months ended June 30, 2026, respectively, compared to opening 67 and 105 net, new stores during the three and six months ended June 30, 2025, respectively.
Results of Operations / actual net new store openings · Dépôt 07/08/2026
MOST IMPORTANT PERFORMANCE MEASURES Comparable Store Sales Operating Income Return on Invested Capital O’REILLY AUTOMOTIVE, INC.
Pay versus Performance / compensation-linked performance measures · Dépôt 27/03/2026
The “Option Awards” column refers to the option awards granted to the NEOs, which become exercisable with respect to 25% of the covered shares one year from the date of grant; 50% exercisable two years from the date of grant; 75% exercisable three years from the date of grant and the remainder become exercisable four years from the date of grant.
Executive Compensation / actual option award exercisability schedule · Dépôt 27/03/2026
The amounts shown in the above table reflect the grant date fair value of stock option awards granted during 2025, 2024, and 2023.
Executive Compensation / option awards granted in 2023–2025 · Dépôt 27/03/2026
The unvested stock option grants and unvested restricted share awards vest pursuant to the terms of the incentive plans upon a Change in Control irrespective of a termination of employment.
Executive Compensation / change-in-control vesting without termination · Dépôt 27/03/2026
· Chief executive officer and Chairman are separate positions.
Corporate Governance Practices / separate CEO and chairman · Dépôt 27/03/2026
· Committees made up entirely of Independent Directors.
Corporate Governance Practices / independent committees · Dépôt 27/03/2026
· One class of outstanding shares with each share entitled to one vote.
Corporate Governance Practices / single share class and voting rights · Dépôt 27/03/2026
· Clawback policy requiring disgorgement of erroneously awarded compensation.
Corporate Governance Practices / compensation clawback policy · Dépôt 27/03/2026
During 2025, each independent Director attended 100% of the total number of meetings held by all committees of the Board for which he or she served during his or her terms of service.
Board of Directors / actual independent-director committee attendance · Dépôt 27/03/2026
32 Gross Profit: Gross profit for the year ended December 31, 2025, increased 7% to $9.17 billion (or 51.6% of sales) from $8.55 billion (or 51.2% of sales) for the same period in 2024.
Results of Operations / 2025 gross profit and margin · Dépôt 27/02/2026
We have no long-term contracts with material purchase commitments with any of our suppliers, nor have we experienced difficulty in obtaining satisfactory alternative supply sources for automotive parts.
Business / supplier commitments and alternative sourcing experience · Dépôt 27/02/2026
Our retail locations offer a low price guarantee
Coupons and promotions FAQ: retail low-price guarantee · Consulté 19/10/2026
pricing at one O’Reilly Auto Parts location may differ from another or from oreillyauto.com.
Coupons and promotions FAQ: pricing differences across stores and website · Consulté 19/10/2026
