AutoZone Inc (AZO)
Current ratio
| Aug 31, 2024 | May 4, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 7,306,760 | 7,289,450 | 7,157,060 | 6,956,800 | 6,779,430 | 6,708,870 | 6,794,800 | 6,633,120 | 6,627,980 | 6,254,720 | 5,903,770 | 6,349,150 | 6,415,300 | 6,224,400 | 6,326,840 | 6,836,800 | 6,811,870 | 5,397,990 | 5,156,980 | 5,028,680 |
| Total current liabilities | US$ in thousands | 8,714,240 | 9,192,590 | 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 |
| Current ratio | 0.84 | 0.79 | 0.82 | 0.79 | 0.80 | 0.79 | 0.79 | 0.76 | 0.77 | 0.78 | 0.77 | 0.79 | 0.87 | 0.89 | 0.93 | 1.06 | 1.08 | 0.94 | 0.88 | 0.91 |
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 shown some fluctuations over the past few quarters. The current ratio measures the company's ability to cover its short-term liabilities with its current assets.
Looking at the data provided, we can see that the current ratio has generally been below 1, which may indicate that AutoZone Inc has had difficulty meeting its short-term obligations with its current assets alone. However, it is essential to consider the industry norms and historical trends of the company before making any definitive conclusions.
In recent quarters, the current ratio has ranged between 0.76 to 0.84, with some slight variation. The ratio improved to above 1 in the earlier quarters, suggesting that AutoZone Inc had a stronger ability to cover its short-term liabilities with its current assets during those periods.
It is crucial for stakeholders to monitor the trend of the current ratio over time to assess the company's liquidity position and its ability to meet its financial obligations in the short term. Additionally, further analysis of other liquidity ratios and financial metrics would provide a more comprehensive view of AutoZone Inc's financial health.
Peer comparison
Aug 31, 2024