AutoZone Inc (AZO)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 304,096 | 282,981 | 277,054 | 274,916 | 301,286 | 269,790 | 264,380 | 263,044 | 239,423 | 961,125 | 1,171,340 | 975,646 | 1,026,160 | 1,664,000 | 1,750,820 | 509,118 | 158,089 | 176,300 | 174,058 | 195,665 |
| Short-term investments | US$ in thousands | — | — | 39,639 | — | — | — | 49,768 | — | — | — | — | — | — | — | — | — | 52,365 | 67,958 | — | — |
| Total current liabilities | US$ in thousands | 8,772,610 | 8,785,620 | 8,511,860 | 8,464,950 | 8,614,620 | 8,708,990 | 8,588,390 | 8,064,080 | 7,684,640 | 8,087,890 | 7,369,750 | 7,013,250 | 6,804,270 | 6,456,700 | 6,283,090 | 5,769,080 | 5,868,240 | 5,512,140 | 5,316,890 | 5,334,300 |
| Cash ratio | 0.03 | 0.03 | 0.04 | 0.03 | 0.03 | 0.03 | 0.04 | 0.03 | 0.03 | 0.12 | 0.16 | 0.14 | 0.15 | 0.26 | 0.28 | 0.09 | 0.04 | 0.04 | 0.03 | 0.04 |
February 10, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($304,096K
+ $—K)
÷ $8,772,610K
= 0.03
The cash ratio of AutoZone Inc has fluctuated over the past few years, indicating variations in the company's ability to cover its short-term liabilities with cash and cash equivalents. The ratio has generally ranged around 0.03 to 0.04, suggesting that the company has historically maintained a relatively low level of cash compared to its current liabilities.
However, there are instances where the cash ratio spiked significantly, such as in May 2022 and November 2021, reaching 0.16 and 0.12, respectively. These peaks may indicate improved liquidity positions during those periods, potentially due to higher cash reserves or reduced current liabilities.
On average, AutoZone Inc's cash ratio indicates that the company has typically relied on sources other than cash to meet its short-term obligations. It is important for investors and stakeholders to monitor changes in the cash ratio over time to assess the company's liquidity and financial health.
Peer comparison
Feb 10, 2024