AutoZone Inc (AZO)

Current ratio

Aug 31, 2024 Aug 26, 2023 Aug 27, 2022 Aug 28, 2021 Aug 29, 2020
Total current assets US$ in thousands 7,306,760 6,779,430 6,627,980 6,415,300 6,811,870
Total current liabilities US$ in thousands 8,714,240 8,511,860 8,588,390 7,369,750 6,283,090
Current ratio 0.84 0.80 0.77 0.87 1.08

August 31, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $7,306,760K ÷ $8,714,240K
= 0.84

The current ratio of AutoZone Inc has fluctuated over the past five years, ranging from 0.77 to 1.08. The current ratio measures the company's ability to meet its short-term obligations with its current assets. A higher current ratio indicates a stronger ability to cover short-term liabilities.

In 2024, the current ratio of AutoZone Inc stands at 0.84, which is an improvement from the previous year's ratio of 0.80. However, it is lower than the ratios reported in 2021 and 2020. This suggests that the company may have more short-term obligations relative to its current assets compared to the previous two years.

Overall, AutoZone Inc's current ratio trend indicates some volatility in its short-term liquidity position, and investors and creditors may want to further investigate the factors driving these fluctuations to assess the company's financial health.


Peer comparison

Aug 31, 2024


See also:

AutoZone Inc Current Ratio