AutoZone Inc (AZO)

Inventory turnover

		Feb 10, 2024	Nov 18, 2023	Aug 26, 2023	May 6, 2023	Feb 11, 2023	Nov 19, 2022	Aug 27, 2022	May 7, 2022	Feb 12, 2022	Nov 20, 2021	Aug 28, 2021	May 8, 2021	Feb 13, 2021	Nov 21, 2020	Aug 29, 2020	May 9, 2020	Nov 23, 2019	Aug 31, 2019	May 4, 2019	Feb 9, 2019
Cost of revenue (ttm)	US$ in thousands	8,391,100	8,372,610	8,386,790	8,288,340	8,202,730	8,026,270	7,779,570	7,532,710	7,409,980	7,176,900	6,911,800	6,699,150	6,251,720	6,192,250	6,571,650	5,729,650	5,566,460	5,498,750	5,291,600	5,237,790
Inventory	US$ in thousands	5,970,180	5,774,470	5,764,140	—	—	—	5,638,000	—	—	4,768,260	4,639,810	—	—	4,628,330	4,473,280	—	4,463,120	4,319,110	—	—
Inventory turnover		1.41	1.45	1.45	—	—	—	1.38	—	—	1.51	1.49	—	—	1.34	1.47	—	1.25	1.27	—	—

February 10, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $8,391,100K ÷ $5,970,180K
= 1.41

AutoZone Inc's inventory turnover has fluctuated over the periods analyzed. The inventory turnover ratio measures how many times a company's inventory is sold and replaced over a specific period. A higher ratio indicates that the company is selling inventory more efficiently.

In this case, AutoZone Inc's inventory turnover has been relatively stable, ranging from 1.25 to 1.51. The highest turnover ratio was observed in Feb 2022, indicating efficient management of inventory. However, some periods have missing data, which may have been due to the unavailability of financial information or specific circumstances within the company.

Overall, AutoZone Inc's inventory turnover appears to be relatively consistent, suggesting that the company is effectively managing its inventory levels and sales. It is essential for investors and analysts to continue monitoring this ratio to assess the company's inventory management practices and operational efficiency.