AutoZone Inc (AZO)

Debt-to-assets ratio

		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	May 4, 2019	Feb 9, 2019
Long-term debt	US$ in thousands	8,630,550	8,583,520	7,668,550	7,340,480	7,042,300	6,328,340	6,122,090	6,057,440	5,840,880	4,771,270	5,269,820	5,267,900	5,266,400	5,514,870	5,513,370	5,418,270	5,287,320	5,206,340	5,151,920	5,111,200
Total assets	US$ in thousands	16,717,700	16,292,600	15,985,900	15,597,900	15,545,100	15,315,900	15,275,000	14,520,600	14,078,500	14,460,900	14,516,200	14,137,900	14,160,000	14,568,600	14,423,900	12,902,100	12,700,500	9,895,910	9,773,740	9,745,100
Debt-to-assets ratio		0.52	0.53	0.48	0.47	0.45	0.41	0.40	0.42	0.41	0.33	0.36	0.37	0.37	0.38	0.38	0.42	0.42	0.53	0.53	0.52

February 10, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $8,630,550K ÷ $16,717,700K
= 0.52

The debt-to-assets ratio of AutoZone Inc has shown some fluctuations over the past several quarters. The ratio has ranged from as low as 0.33 to as high as 0.53 during this period.

A high debt-to-assets ratio indicates that a significant portion of the company's assets are financed through debt, which could potentially lead to higher financial risk. On the other hand, a lower ratio suggests a lower reliance on debt financing, which may be seen as a positive indicator of financial stability.

Overall, AutoZone Inc's debt-to-assets ratio seems to have been relatively stable, hovering around the 0.4 to 0.5 range. It would be important to consider this ratio in conjunction with other financial metrics to get a more comprehensive understanding of the company's financial health and risk profile.