AutoZone Inc (AZO)
Return on assets (ROA)
| Aug 31, 2024 | Aug 31, 2023 | Aug 26, 2023 | Aug 31, 2022 | Aug 27, 2022 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 2,662,430 | 2,528,430 | 2,528,430 | 2,429,600 | 2,429,600 |
| Total assets | US$ in thousands | 17,176,500 | 15,985,900 | 15,985,900 | 15,275,000 | 15,275,000 |
| ROA | 15.50% | 15.82% | 15.82% | 15.91% | 15.91% |
August 31, 2024 calculation
ROA = Net income ÷ Total assets
= $2,662,430K ÷ $17,176,500K
= 15.50%
AutoZone Inc's return on assets (ROA) has shown a consistent trend of improvement over the past five years, reflecting the company's ability to generate earnings from its assets. The ROA increased from 12.01% in 2020 to 15.50% in 2024, indicating a positive growth trajectory. This upward trend suggests that AutoZone Inc has been effectively utilizing its assets to generate profits over the years. The consecutive improvements in ROA demonstrate the company's efficiency in generating income relative to its total assets. Overall, the rising ROA indicates that AutoZone Inc is managing its assets efficiently and effectively to drive profitability.