AutoZone Inc (AZO)
Quick 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 298,172 | 275,358 | 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 |
| Short-term investments | US$ in thousands | 38,431 | — | — | — | 39,639 | — | — | — | 49,768 | — | — | 55,520 | 46,007 | — | — | 41,279 | 76,118 | — | 52,365 | 67,958 |
| Receivables | US$ in thousands | 545,575 | 586,775 | 501,117 | 511,907 | 520,385 | — | — | — | 504,886 | — | — | — | 378,392 | — | — | — | — | — | — | — |
| 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 |
| Quick ratio | 0.10 | 0.09 | 0.09 | 0.09 | 0.10 | 0.03 | 0.03 | 0.03 | 0.10 | 0.03 | 0.03 | 0.13 | 0.22 | 0.14 | 0.15 | 0.26 | 0.29 | 0.09 | 0.04 | 0.04 |
August 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($298,172K
+ $38,431K
+ $545,575K)
÷ $8,714,240K
= 0.10
The quick ratio of AutoZone Inc has fluctuated over the period under consideration, ranging from a low of 0.03 to a high of 0.29. The quick ratio measures the company's ability to cover its short-term liabilities with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term obligations.
The quick ratio has shown some volatility, with significant changes observed in certain periods. For example, the quick ratio was relatively low in some quarters, such as May 6, 2023, and May 7, 2022, where it stood at 0.03. This could suggest that AutoZone Inc may have had challenges in meeting its short-term commitments during those periods.
On the other hand, the quick ratio improved notably in some quarters, such as Nov 21, 2020, and Aug 28, 2021, where it reached 0.26 and 0.22, respectively. This indicates that the company had a better ability to cover its short-term liabilities with its liquid assets during those periods.
Overall, the quick ratio trend for AutoZone Inc indicates some variability in the company's liquidity position over the period. It is important for investors and analysts to closely monitor these fluctuations to assess the company's short-term financial health and ability to meet its obligations.
Peer comparison
Aug 31, 2024