MeritValue

AUTOZONE INC

AZOdata completeness 100%18 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$14.6B1$16.3B2$17.5B3$18.5B3$18.9B3
Net income$2.17B4$2.43B5$2.53B6$2.66B6$2.5B6
Operating cash flow$3.52B7$3.21B8$2.94B9$3B9$3.12B9
Capital expenditure$621.8M10$672.4M11$796.7M12$1.07B12$1.33B12
Free cash flow (derived)$2.9B7$2.54B8$2.14B9$1.93B9$1.79B9
Total debt$5.27B13$6.12B14$7.67B15$9.02B16$8.8B16
Cash & equivalents$1.17B17$264.4M18$277.1M19$298.2M20$271.8M20
Diluted shares22.8M20.7M19.1M17.8M17.2M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.000058%
of the whole company
Your share of last year’s profit
$1,448.68
Your share of its debt
$5,102.8
Your share of free cash flow
$1,038.03
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$1,020.04
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth0.0%
  • fcfBase$1.93B
DCF · Growth Exit 5Y
$1,144.71
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth0.0%
  • fcfBase$1.93B
Earnings Power Value
$1,526.53
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$2.5B
  • growthAssumed0.0%
Graham Number
not applicable
book value / share count missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years0.0%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $1,144.71

Default growth 0.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-08-28 · accession 0001558370-23-016668 (Revenues)
  2. 10-K · period ending 2022-08-27 · accession 0001558370-24-013758 (Revenues)
  3. 10-K · period ending 2023-08-26 · accession 0001104659-25-102611 (Revenues)
  4. 10-K · period ending 2021-08-28 · accession 0001558370-23-016668 (NetIncomeLoss)
  5. 10-K · period ending 2022-08-27 · accession 0001558370-24-013758 (NetIncomeLoss)
  6. 10-K · period ending 2023-08-26 · accession 0001104659-25-102611 (NetIncomeLoss)
  7. 10-K · period ending 2021-08-28 · accession 0001558370-23-016668 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-08-27 · accession 0001558370-24-013758 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-08-26 · accession 0001104659-25-102611 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-08-28 · accession 0001558370-23-016668 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-08-27 · accession 0001558370-24-013758 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-08-26 · accession 0001104659-25-102611 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-08-28 · accession 0001558370-22-015239 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2022-08-27 · accession 0001558370-23-016668 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2023-08-26 · accession 0001558370-24-013758 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2024-08-31 · accession 0001104659-25-102611 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2021-08-28 · accession 0001558370-22-015239 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-08-27 · accession 0001558370-23-016668 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-08-26 · accession 0001558370-24-013758 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2024-08-31 · accession 0001104659-25-102611 (CashAndCashEquivalentsAtCarryingValue)