AutoZone Inc (AZO)
Current ratio
| Aug 26, 2023 | Aug 27, 2022 | Aug 28, 2021 | Aug 29, 2020 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 6,779,430 | 6,627,980 | 6,415,300 | 6,811,870 | 5,028,680 |
| Total current liabilities | US$ in thousands | 8,511,860 | 8,588,390 | 7,369,750 | 6,283,090 | 5,512,140 |
| Current ratio | 0.80 | 0.77 | 0.87 | 1.08 | 0.91 |
August 26, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $6,779,430K ÷ $8,511,860K
= 0.80
The current ratio for Autozone Inc. has exhibited fluctuations over the past five years. In the most recent period, as of August 26, 2023, the current ratio stands at 0.80, indicating a decrease from the previous year's 0.77. This suggests a decrease in the company's ability to cover its short-term liabilities with its current assets. Comparing this to the previous years, the current ratio was 0.87 in 2021, 1.08 in 2020, and 0.91 in 2019, reflecting a declining trend in the company's short-term liquidity position. It is important for stakeholders to assess the reasons behind this decline and monitor the company's ability to meet its short-term obligations effectively.
Peer comparison
Aug 26, 2023