AutoZone Inc (AZO)

Return on assets (ROA)

		Aug 31, 2024	Aug 26, 2023	Aug 27, 2022	Aug 28, 2021	Aug 29, 2020
Net income	US$ in thousands	2,662,430	2,528,430	2,429,600	2,170,310	1,732,970
Total assets	US$ in thousands	17,176,500	15,985,900	15,275,000	14,516,200	14,423,900
ROA		15.50%	15.82%	15.91%	14.95%	12.01%

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.