{"schemaVersion":1,"research":true,"symbol":"azo","name":"Autozone","topic":"moat","path":"/stock/azo/moat","status":"published","version":3,"updatedAt":"2026-10-18T13:30:54.877Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"uncertain","summary":"AutoZone demonstrates substantial store coverage, integrated inventory systems and supplier-supported working capital, but the supplied passages do not establish a durable advantage over rivals. Pricing power remains unproven: sales growth does not isolate price realization, and recent gross-margin compression was attributed to LIFO. Declining capital returns and supplier funding ratios merit monitoring without establishing competitive erosion.","advantages":[{"mechanism":"cost_advantage","claim":"A current operating capability, rather than an established relative moat: AutoZone combines a large store footprint, integrated parts lookup and inventory visibility, commercial delivery, and supplier-supported inventory funding. Relative cost or delivery superiority is not demonstrated.","durability":"The infrastructure is established and continues to receive investment, but its replication difficulty and sustained economic advantage over rivals are not established.","risks":"Supplier funding has weakened year over year; expansion requires substantial capital. Online comparison and potentially stronger rival sourcing constrain differentiation. Electric vehicles and restricted repair-information access could reduce addressable demand; these are prospective risks.","invalidation":"The candidate advantage would be undermined by sustained deterioration in supplier terms, inventory availability or delivery performance despite investment, or evidence that rivals provide equivalent availability and delivery at lower operating cost.","competitors":[],"evidenceIds":["e1","e2","e3","e4","e5"],"counterEvidenceIds":["e6","e7","e8","e9","e10"]},{"mechanism":"intangible_assets","claim":"AutoZone owns registered brands and proprietary operating systems. Management attributes sales growth partly to brand reputation, but the passages do not demonstrate a brand price premium, customer switching friction or independently identifiable brand-driven retention.","durability":"Brand and systems continuity are evident; durable customer preference and economic exclusivity remain unestablished.","risks":"Price transparency and alternative sources of parts limit the inference of customer dependency. Reputation-related growth attribution is management's assessment.","invalidation":"The candidate brand advantage would be undermined by persistent customer losses or discount dependence despite maintained availability and service, or evidence that customers choose interchangeable alternatives without a meaningful preference for AutoZone.","competitors":[],"evidenceIds":["e1","e11","e12"],"counterEvidenceIds":["e6","e7"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Business / Store Automation","excerpt":"Z-net provides parts information based on year, make, model and engine type of a vehicle and also tracks inventory availability at the store, at other nearby stores and through special order."},{"id":"e2","sourceId":"filing-1","location":"Note A / Business / geographic store footprint","excerpt":"At the end of fiscal 2025, the Company operated 6,627 stores in the U.S., 883 stores in Mexico and 147 stores in Brazil."},{"id":"e3","sourceId":"filing-1","location":"Note A / Business / commercial delivery and credit programs","excerpt":"At the end of fiscal 2025, in 6,098 of the domestic stores as well as the vast majority of our stores in Mexico and Brazil, we had a commercial sales program that provided prompt delivery of parts and other products and commercial credit to local, regional and national repair garages, dealers, service stations, fleet owners and other accounts."},{"id":"e4","sourceId":"filing-2","location":"MD&A / Liquidity and Capital Resources / accounts payable to inventory","excerpt":"We had an accounts payable to inventory ratio of 111.1% at May 9, 2026, and 115.6% at May 10, 2025."},{"id":"e5","sourceId":"filing-1","location":"Risk Factors / completed distribution centers and continuing investment","excerpt":"​ In addition, we have made, and plan to continue to make, significant investments in our supply chain, such as the construction of multiple new distribution centers which began operations in fiscal 2025 and the execution of various technology initiatives."},{"id":"e6","sourceId":"filing-1","location":"Risk Factors / digital comparison of prices and availability","excerpt":"​ With the increasing use of digital tools, our customers often begin their shopping experience online and are quickly able to compare prices, product assortment, product availability and feedback from other customers before purchasing products."},{"id":"e7","sourceId":"filing-1","location":"Risk Factors / potential competitor capabilities","excerpt":"Although we believe we compete effectively, our competitors may have greater financial resources allowing them to invest more in their business, greater sourcing capabilities allowing them to sell merchandise at lower prices, larger stores with more merchandise, longer operating histories with deeper customer relationships, more frequent customer visits, more effective advertising and more successful utilization of data analytics, artificial intelligence and other new and emerging technologies."},{"id":"e8","sourceId":"filing-2","location":"MD&A / Liquidity and Capital Resources / capital expenditures","excerpt":"Capital expenditures for the thirty-six weeks ended May 9, 2026, were $997.5 million compared to $885.6 million in the comparable prior year period."},{"id":"e9","sourceId":"filing-1","location":"Risk Factors / electric vehicle demand exposure","excerpt":"prevalence of electric vehicles. Increased prevalence of electric vehicles, whether due to changes in consumer preferences or regulatory actions incentivizing the purchase of electric vehicles, can result in less frequent parts failures and reduced need for parts."},{"id":"e10","sourceId":"filing-1","location":"Risk Factors / repair-information restrictions and dealer reliance","excerpt":"These restrictions may cause vehicle owners to rely on dealers to perform maintenance and repairs."},{"id":"e11","sourceId":"filing-1","location":"Business / Trademarks and Patents / registered brands","excerpt":"Patent and Trademark Office as well as in certain other countries, including without limitation: “AutoZone,” “AutoZone Rewards,” “Get in the Zone,” “Zone,” “Duralast,” “Econocraft,” “ProElite,” “ShopPro,” “SureBilt,” “TotalPro,” “TruGrade,” “Valucraft,” and “ALLDATA,” along with variations of these trademarks."},{"id":"e12","sourceId":"filing-1","location":"Risk Factors / management attribution of growth to brand reputation","excerpt":"We believe our continued sales growth is driven in significant part by our AutoZone and private label brand names and our positive reputation with customers, AutoZoners, suppliers, vendors and other stakeholders."},{"id":"e13","sourceId":"filing-1","location":"Risk Factors / fiscal 2020–2025 revenue growth","excerpt":"​ We have increased annual revenues in the past five fiscal years from $12.6 billion in fiscal 2020 to $18.9 billion in fiscal 2025, with a compounded annual growth rate of approximately eight percent."},{"id":"e14","sourceId":"filing-1","location":"Risk Factors / same-store sales and expansion contributions","excerpt":"Annual revenue growth is driven by increases in same store sales, the opening of new stores and the development of new commercial programs."},{"id":"e15","sourceId":"filing-1","location":"Risk Factors / demand and pricing influences on same-store sales","excerpt":"Same store sales are impacted both by customer demand levels and by the prices we are able to charge for our products, which can also be negatively impacted by economic pressures."},{"id":"e16","sourceId":"filing-2","location":"MD&A / thirty-six-week gross margin comparison","excerpt":"Gross profit, as a percentage of sales, was 51.9% compared to 53.2% during the comparable prior year period."},{"id":"e17","sourceId":"filing-2","location":"MD&A / LIFO attribution of gross-margin decline","excerpt":"The decrease in gross margin was driven by a 142 basis point unfavorable net non-cash LIFO impact."},{"id":"e18","sourceId":"filing-2","location":"MD&A / Liquidity and Capital Resources / operating cash flow","excerpt":"22 Table of Contents For the thirty-six week periods ended May 9, 2026, and May 10, 2025, our net cash flows from operating activities provided $2.1 billion and $2.2 billion, respectively."},{"id":"e19","sourceId":"filing-2","location":"Note J / completed stock repurchases","excerpt":"Note J – Stock Repurchase Program From January 1, 1998, to May 9, 2026, the Company has repurchased a total of 156.0 million shares of its common stock at an aggregate cost of $39.8 billion, including 356.3 thousand shares of its common stock at an aggregate cost of $1.3 billion during the thirty-six week period ended May 9, 2026."},{"id":"e20","sourceId":"filing-2","location":"Note I / debt and commercial paper balances","excerpt":"11 Table of Contents Note I – Financing The Company’s debt consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 9, ​ ​ ​ August 30, (in thousands) ​ 2026 ​ 2025 ​ ​ ​ ​ ​ ​ ​ 3.125% Senior Notes due April 2026, effective interest rate 3.28% ​ $ — ​ $ 400,000 5.050% Senior Notes due July 2026, effective interest rate 5.09% ​ ​ 450,000 ​ ​ 450,000 3.750% Senior Notes due June 2027, effective interest rate 3.83% ​ 600,000 ​ 600,000 4.500% Senior Notes due February 2028, effective interest rate 4.43% ​ ​ 450,000 ​ ​ 450,000 6.250% Senior Notes due November 2028, effective interest rate 6.46% ​ 500,000 ​ 500,000 3.750% Senior Notes due April 2029, effective interest rate 3.86% ​ ​ 450,000 ​ ​ 450,000 5.100% Senior Notes due July 2029, effective interest rate 5.30% ​ ​ 600,000 ​ ​ 600,000 4.000% Senior Notes due April 2030, effective interest rate 4.09% ​ 750,000 ​ 750,000 5.125% Senior Notes due June 2030, effective interest rate 5.14% ​ ​ 500,000 ​ ​ 500,000 1.650% Senior Notes due January 2031, effective interest rate 2.19% ​ ​ 600,000 ​ ​ 600,000 4.750% Senior Notes due August 2032, effective interest rate 4.76% ​ ​ 750,000 ​ ​ 750,000 4.750% Senior Notes due February 2033, effective interest rate 4.70% ​ ​ 550,000 ​ ​ 550,000 5.200% Senior Notes due August 2033, effective interest rate 5.22% ​ ​ 300,000 ​ ​ 300,000 6.550% Senior Notes due November 2033, effective interest rate 6.71% ​ ​ 500,000 ​ ​ 500,000 5.400% Senior Notes due July 2034, effective interest rate 5.54% ​ ​ 700,000 ​ ​ 700,000 Commercial paper, weighted average interest rate 3.96% at May 9, 2026, and 4.46% at August 30, 2025 ​ ​ 1,358,000 ​ ​ 748,600 Total debt before discounts and debt issuance costs ​ ​ 9,058,000 ​ ​ 8,848,600 Less: Discounts and debt issuance costs ​ 41,523 ​ 48,825 Long-term debt ​ $ 9,016,477 ​ $ 8,799,775 ​ The Company maintains a revolving credit facility (as amended from time to time, the “Revolving Credit Agreement”) with a borrowing capacity of $2.25 billion."},{"id":"e21","sourceId":"filing-2","location":"MD&A / trailing-four-quarter adjusted ROIC comparison","excerpt":"​ For the trailing four quarters ended May 9, 2026, our adjusted after-tax return on invested capital (“ROIC”), which is a non-GAAP measure, was 36.3% as compared to 43.5% for the comparable prior year period."},{"id":"e22","sourceId":"filing-1","location":"MD&A / investing activities / net new store openings","excerpt":"We had net new store openings of 304, 213 and 197 for fiscal 2025, 2024 and 2023, respectively."},{"id":"e23","sourceId":"filing-2","location":"MD&A / thirty-six-week net income and diluted EPS","excerpt":"Net income for the thirty-six weeks ended May 9, 2026, decreased by $20.1 million from the comparable prior year period to $1.6 billion due to the factors set forth above, and diluted earnings per share increased by 0.5% to $96.69 from $96.17."},{"id":"e24","sourceId":"filing-3","location":"Proxy Summary / existing executive incentive structure","excerpt":"​ ​ ​ ​ EXECUTIVE COMPENSATION ● Significant portion of executive’s compensation is variable or at-risk ● Annual Incentive Plan tied to economic profit, as a function of Earnings Before Interest and Taxes (“EBIT”) and Return on Invested Capital (“ROIC”) ● Improved Say-On-Pay Vote receiving support from over 89% of the votes cast."},{"id":"e25","sourceId":"filing-3","location":"Compensation Discussion and Analysis / annual incentive performance hurdle","excerpt":"Performance Hurdle. The annual incentive plan is subject to a pre-established threshold or hurdle such that no annual incentive awards are paid out unless the Company achieves 90% of target Economic Profit."},{"id":"e26","sourceId":"filing-3","location":"Compensation Discussion and Analysis / elimination of individual modifier effective FY25","excerpt":"In response to shareholder feedback, the individual modifier component of the annual incentive plan has been eliminated effective FY25."},{"id":"e27","sourceId":"filing-3","location":"Compensation Discussion and Analysis / committee discretion over performance adjustments","excerpt":"The Compensation Committee may (but is not required to) adjust for the effect of one-time charges and extraordinary events such as asset write-downs, litigation judgments or settlements, changes in tax laws, accounting principles or other laws or provisions affecting reported results, accruals for reorganization or restructuring, and any other extraordinary non-recurring items, acquisitions or divestitures and any foreign exchange gains or losses on the calculation of performance."},{"id":"e28","sourceId":"filing-2","location":"Share-Based Compensation / actual option vesting periods","excerpt":"Option-vesting periods range from four to five years, with the majority of options vesting ratably over four years."},{"id":"e29","sourceId":"filing-3","location":"Proxy Summary / governance practices and independent committees","excerpt":"​ ​ ​ ​ CORPORATE GOVERNANCE ● Board Leadership consists of Executive Chairman and Lead Independent Director ● Intentional Board refreshment and succession planning resulted in two new independent candidates to further enhance the Board’s diverse skillset ● Disciplined CEO succession planning resulted in appointment of new President and Chief Executive Officer in FY24 ● Audit, Compensation and Nominating & Corporate Governance Committees (the “Standing Committees”) made up entirely of Independent Directors ● Use of Third-Party Firm for 2021 and 2024 Board Evaluations ● Review and update of Corporate Governance Principles in FY24 and Committee Charters in FY25 For more information, see: Corporate Governance beginning on page 7."},{"id":"e30","sourceId":"filing-3","location":"Corporate Governance / Lead Independent Director responsibilities","excerpt":"Our Corporate Governance Principles provide our Lead Independent Director with clearly defined responsibilities as follows: ● Presides at all executive sessions of the independent directors of the Board (without management present) at every regularly scheduled Board meeting; ● Chairs Board meetings when the Chairman is not present; ● Works with management to determine the information and materials to be provided to the Board; ● With Executive Chairman, approves Board meeting agendas, schedules, and other information to be provided to the Board; ● Consults with the Executive Chairman and the CEO on such other matters as are pertinent to the Board and the Company; ● Has the authority to call meetings of the independent directors; ● Is available for direct communication and consultation with stockholders upon reasonable request; and ● Serves as a liaison between the Executive Chairman and the independent directors."},{"id":"e31","sourceId":"filing-1","location":"Independent auditor report / internal control opinion as of August 30, 2025","excerpt":"​ We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of August 30, 2025, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), and our report dated October 27, 2025 expressed an unqualified opinion thereon."},{"id":"e32","sourceId":"filing-3","location":"Corporate Governance / directors with more than 15 years of service","excerpt":"Graves and Mr. Mrkonic have each served on the Board for greater than 15 years."},{"id":"e33","sourceId":"filing-1","location":"Note A / Revenue Recognition / retail transactions","excerpt":"Revenue from retail customers is recognized when the customer leaves our store with the purchased products, typically at the point of sale or for E-commerce orders when the product is shipped."},{"id":"e34","sourceId":"filing-1","location":"MD&A / fiscal 2023–2025 operating cash flow","excerpt":"Net cash provided by operating activities was $3.1 billion in 2025, $3.0 billion in 2024 and $2.9 billion in 2023."}],"changes":["Retain the previous uncertain moat verdict: the supplied evidence demonstrates capabilities but does not establish a durable relative advantage.","Add assessments supported by actual proxy disclosures on incentive design and governance; these provide evidence beyond management reputation.","Make pricing evidence gaps explicit and distinguish LIFO-related margin compression from demonstrated competitive erosion."],"limitations":["No passage identifies a named automotive-parts competitor. Other named companies appear in governance or financing contexts and are not established competitors; competitor arrays therefore remain empty.","The passages omit comparative delivery performance, sourcing costs, market shares and replication economics. Insufficient relative evidence does not establish a weak competitive position.","Brand benefits and several efficiency claims are issuer assertions. Reported operating results and contractual disclosures support assessments, but do not demonstrate exceptional durability.","No realized price, price-volume-mix, repeat-customer or customer-cohort statistics are supplied. Retention is assessed indirectly from continuing sales and disclosed same-store growth contributions.","The proxy supplies incentive and governance disclosures, but its ownership table values are absent. Management ownership levels and compliance with ownership guidelines cannot be verified.","Source dates are filing dates, retaining dateKind filed. Latest supplied operating evidence ends May 9, 2026; subsequent outcomes and completion of previously announced governance transitions are not assumed."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":null,"rationale":"Store coverage, inventory integration and supplier funding are demonstrated, but their superiority over competitors is unestablished. The moat verdict remains uncertain.","evidenceIds":["e1","e2","e3","e4","e7"]},{"criterion":"durability","grade":null,"rationale":"Established infrastructure and continued investment do not establish a lasting relative economic advantage or barriers to replication.","evidenceIds":["e2","e5","e8"]},{"criterion":"customer_dependency","grade":null,"rationale":"Convenient delivery and parts lookup support service, but the passages do not establish customer dependence, switching friction or exclusive access.","evidenceIds":["e1","e3","e6"]},{"criterion":"erosion_resilience","grade":null,"rationale":"Continuing demand and investment coexist with weaker supplier funding and capital returns. The passages cannot establish resilience of an underlying relative moat; prospective risks are not realized competitive losses.","evidenceIds":["e4","e9","e13","e21"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":null,"rationale":"Sales growth is not separated into prices, volume and mix. The disclosure that prices affect same-store sales provides no observed pricing outcome; neither LIFO nor total growth establishes price realization.","evidenceIds":["e13","e15","e17"]},{"criterion":"retention","grade":2,"rationale":"Multi-year revenue growth with disclosed same-store sales contributions provides indirect evidence of continuing customer demand. Expansion also contributes, and repeat purchasing or retention rates are unavailable; easy comparison limits an inference of strong loyalty.","evidenceIds":["e13","e14","e6"]},{"criterion":"margin_resilience","grade":2,"rationale":"Gross margin declined from 53.2% to 51.9% over the comparable thirty-six-week periods. The disclosed 142-basis-point unfavorable LIFO impact exceeds that decline, indicating some offsetting resilience, but does not identify pricing as the cause or establish durable pass-through.","evidenceIds":["e16","e17"]},{"criterion":"contractual_freedom","grade":null,"rationale":"Retail revenue is generally recognized at purchase or shipment, but transaction timing does not establish contractual discretion to reset prices or commercial-account terms. Relevant pricing restrictions or freedoms are not disclosed.","evidenceIds":["e33"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Actual cash generation funds substantial investment and repurchases, but recent thirty-six-week operating cash flow of $2.1 billion was below the combined approximately $1.0 billion capital spending and $1.3 billion repurchases. Debt rose from fiscal year-end and adjusted ROIC fell from 43.5% to 36.3%. Deployment is demonstrated; incremental investment returns and repurchase value remain mixed.","evidenceIds":["e8","e18","e19","e20","e21","e34"]},{"criterion":"incentive_alignment","grade":3,"rationale":"Existing annual incentives incorporate economic profit, EBIT and ROIC, with a minimum performance hurdle. Multi-year option vesting and elimination of the individual modifier provide additional alignment. Committee adjustment discretion and missing ownership values limit confidence; these are disclosed arrangements, not assumed future award adoption.","evidenceIds":["e24","e25","e26","e27","e28"]},{"criterion":"execution","grade":2,"rationale":"Multi-year sales growth, accelerated completed store openings, operating distribution centers and sustained cash generation demonstrate execution. Recent net income, cash flow and capital returns weakened, leaving the results mixed. Service quality and retention are inferred indirectly rather than measured.","evidenceIds":["e5","e13","e18","e21","e22","e23","e34"]},{"criterion":"governance","grade":3,"rationale":"Independent standing committees, defined Lead Independent Director authority, implemented compensation changes following feedback and an unqualified internal-control opinion support strong governance processes. Long-serving directors and incomplete ownership evidence limit the assessment; announced future leadership changes are not treated as completed.","evidenceIds":["e26","e29","e30","e31","e32"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-4","basisHash":"4c274620b1fc13612774b8046f6dbf8463f448034361bfe1332cb70c000e6866","updatedAt":"2026-10-18T13:30:54.877Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/866787/000110465925102611/azo-20250830x10k.htm","publishedAt":"2025-10-27","sha256":"29f0505c72ea937621e832f18db6f01da4201f847ab61637cf3de1acf82f26c8","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/866787/000110465926073525/azo-20260509x10q.htm","publishedAt":"2026-06-12","sha256":"b972a5201af16af8ae6f5c89eb84fed99d0ede79441c85d8a64b3191195fbe9c","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/866787/000110465925103210/azo-20251217xdef14a.htm","publishedAt":"2025-10-28","sha256":"e25ef184ccb716221adc09483aabf75945cc4351b7d829c7f3bf4f3d2342631d","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/866787/000155837024013758/azo-20240831x10k.htm","publishedAt":"2024-10-28","sha256":"1e751df28216a250031efd89e319526ee12423456d3dd9b45c3cfedc93e45478","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/866787/000155837023016668/azo-20230826x10k.htm","publishedAt":"2023-10-24","sha256":"0a20d7e0971fcce8b6106f8a5a2c2ba6d11e6dfcc3748d0972a08c838ebecceb","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/866787/000110465926032757/azo-20260214x10q.htm","publishedAt":"2026-03-20","sha256":"5e6b1af672afb3075e466259f7e6f5b210dca08cd51e37cd477dc19cf1428391","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:31cdad6b078a245194929fad31f23f7d7a141a505010e23ee608fa03c0fe7490","usage":{"input_tokens":88308,"cached_input_tokens":21120,"cache_write_input_tokens":0,"output_tokens":3684,"reasoning_output_tokens":96}},"signals":[{"period":"2021","end":"2021-08-28","values":{"gross_margin":52.75464068187854,"operating_margin":20.12720798300157,"roic":89.13537244147535,"fcf_margin":19.800807746767937,"sbc_revenue":0.3835515498218166},"issues":{"pb":"Equity attributable to owners is zero or negative, so this ratio is undefined.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. ROIIC requires a positive increase.","roe":"Average equity attributable to owners is zero or negative, so this ratio is undefined.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt_equity":"Equity is zero or negative, so this ratio is undefined."}},{"period":"2022","end":"2022-08-27","values":{"gross_margin":52.13223046929559,"operating_margin":20.124801334955265,"roic":110.26228562063946,"fcf_margin":15.620896332380235,"sbc_revenue":0.4344757611724668},"issues":{"pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pb":"Equity attributable to owners is zero or negative, so this ratio is undefined.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roe":"Average equity attributable to owners is zero or negative, so this ratio is undefined.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt_equity":"Equity is zero or negative, so this ratio is undefined."}},{"period":"2023","end":"2023-08-26","values":{"gross_margin":51.95803063364826,"operating_margin":19.900008071164184,"roic":102.0835145158198,"fcf_margin":12.282209601775405,"sbc_revenue":0.5332295672234891},"issues":{"pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pb":"Equity attributable to owners is zero or negative, so this ratio is undefined.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roe":"Average equity attributable to owners is zero or negative, so this ratio is undefined.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt_equity":"Equity is zero or negative, so this ratio is undefined."}},{"period":"2024","end":"2024-08-31","values":{"gross_margin":53.09307577369889,"operating_margin":20.490281698458887,"roic":84.96870304127685,"fcf_margin":10.445603059944832,"sbc_revenue":0.5746049759797964},"issues":{"pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pb":"Equity attributable to owners is zero or negative, so this ratio is undefined.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roe":"Average equity attributable to owners is zero or negative, so this ratio is undefined.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt_equity":"Equity is zero or negative, so this ratio is undefined."}},{"period":"2025","end":"2025-08-30","values":{"gross_margin":52.62486365892685,"operating_margin":19.06230501253068,"roic":62.59056515437628,"fcf_margin":9.45196023574353,"sbc_revenue":0.65852929741756},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pb":"Equity attributable to owners is zero or negative, so this ratio is undefined.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roe":"Average equity attributable to owners is zero or negative, so this ratio is undefined.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt_equity":"Equity is zero or negative, so this ratio is undefined."}}],"sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/866787/000110465925102611/azo-20250830x10k.htm","publishedAt":"2025-10-27","sha256":"29f0505c72ea937621e832f18db6f01da4201f847ab61637cf3de1acf82f26c8","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/866787/000110465926073525/azo-20260509x10q.htm","publishedAt":"2026-06-12","sha256":"b972a5201af16af8ae6f5c89eb84fed99d0ede79441c85d8a64b3191195fbe9c","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/866787/000110465925103210/azo-20251217xdef14a.htm","publishedAt":"2025-10-28","sha256":"e25ef184ccb716221adc09483aabf75945cc4351b7d829c7f3bf4f3d2342631d","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/866787/000155837024013758/azo-20240831x10k.htm","publishedAt":"2024-10-28","sha256":"1e751df28216a250031efd89e319526ee12423456d3dd9b45c3cfedc93e45478","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/866787/000155837023016668/azo-20230826x10k.htm","publishedAt":"2023-10-24","sha256":"0a20d7e0971fcce8b6106f8a5a2c2ba6d11e6dfcc3748d0972a08c838ebecceb","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/866787/000110465926032757/azo-20260214x10q.htm","publishedAt":"2026-03-20","sha256":"5e6b1af672afb3075e466259f7e6f5b210dca08cd51e37cd477dc19cf1428391","dateKind":"filed"}],"history":[{"version":3,"updatedAt":"2026-10-18T16:35:43.872Z","verdict":"uncertain","value":null},{"version":2,"updatedAt":"2026-10-18T02:27:49.793Z","verdict":"uncertain","value":null},{"version":1,"updatedAt":"2026-10-18T02:18:02.026Z","verdict":null,"value":null}],"hasRequested":false,"requestStatus":"completed","researchIssue":null,"archivedMoat":null,"scope":"supported_catalog"}