AutoZone Inc (AZO)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.53 | 0.50 | 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 |
| Debt-to-capital ratio | 2.11 | 2.32 | 2.28 | 2.55 | 2.31 | 2.42 | 2.46 | 2.54 | 2.37 | 2.27 | 2.16 | 1.80 | 1.52 | 1.50 | 1.41 | 1.23 | 1.19 | 1.43 | 1.51 | 1.49 |
| Debt-to-equity ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financial leverage ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
The debt-to-assets ratio for AutoZone Inc has fluctuated over the period analyzed, ranging from 0.33 to 0.53. This ratio indicates that, on average, around 40%-50% of the company's assets are financed by debt.
The debt-to-capital ratio shows a varying trend, with figures between 1.19 and 2.55. This ratio reflects the company's dependency on debt to fund a significant portion of its capital structure, averaging around 2.00.
The absence of data for the debt-to-equity ratio suggests that information crucial for this ratio calculation might not be available in the financial reports.
The financial leverage ratio is also not disclosed, indicating a lack of specifics regarding the company's overall leverage position.
Overall, the solvency ratios for AutoZone Inc highlight the company's consistent reliance on debt as a financing source, which could indicate a potentially higher financial risk level compared to peers with lower debt ratios. It is essential for stakeholders to monitor these ratios closely to assess the company's ability to meet its financial obligations and manage its debt levels effectively.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 23.04 | 34.16 | 33.78 | 33.11 | 31.95 | 52.43 | 51.29 | 50.62 | 30.49 | 31.67 | 31.84 | 30.41 | 28.23 | 26.10 | 23.31 | 16.87 | 16.71 | 22.89 | 21.99 | 38.48 |
The interest coverage ratio of AutoZone Inc has shown historical fluctuations over the past few years. The interest coverage ratios have generally been healthy and well above 1, indicating that the company's earnings before interest and taxes (EBIT) have been sufficient to cover its interest expenses.
In recent periods, the interest coverage ratio has ranged between 16.71 to 52.43, with an average of approximately 30. This implies that AutoZone Inc has had a comfortable buffer to cover its interest obligations.
The trend in the interest coverage ratios shows some variability, which may be influenced by changes in operating performance, interest rates, or capital structure. Despite fluctuations, the company has maintained a strong ability to meet its interest payments, with higher ratios indicating a lower financial risk.
Overall, AutoZone Inc's interest coverage ratio suggests that the company has been able to generate ample earnings to cover its interest expenses, signaling a stable financial position in terms of debt servicing. Further analysis would be needed to assess the sustainability of this performance and potential future implications for stakeholders.