AutoZone Inc (AZO)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Debt-to-capital ratio | 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 | 1.45 | 1.45 |
| Debt-to-equity ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financial leverage ratio | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
The Debt-to-assets ratio of AutoZone Inc has exhibited fluctuations over the analyzed periods, ranging from 0.33 to 0.53. Generally, the ratio has been relatively stable, indicating that around 33% to 53% of the company's assets have been funded through debt.
In terms of the Debt-to-capital ratio, the values have ranged from 1.19 to 2.55, displaying more variability compared to the Debt-to-assets ratio. The ratio signifies that between 119% to 255% of the company's capital has been financed by debt, indicating a moderate to high dependence on debt for funding its operations.
Notably, there is missing data for the Debt-to-equity ratio and the Financial leverage ratio across all periods, making it challenging to assess the company's financial structure from these perspectives. It would be beneficial to have complete data in these areas to provide a more comprehensive analysis of AutoZone Inc's solvency.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 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 | 37.29 | 37.26 |
AutoZone Inc's interest coverage ratio has shown fluctuations over the past few years. The interest coverage ratio measures a company's ability to meet its interest obligations with its operating income. A higher ratio indicates stronger ability to cover interest expenses.
From February 2019 to August 2022, AutoZone Inc's interest coverage ratio remained relatively stable, ranging from 16.71 to 38.48. This stability suggests that the company was able to comfortably cover its interest expenses during this period.
However, there was a decrease in the interest coverage ratio from August 2022 to November 2023, with the ratio dropping to a low of 26.10 before recovering slightly to 33.11 in November 2023. This could indicate a potential strain on the company's ability to cover its interest payments during that period.
In the most recent data point of February 10, 2024, the interest coverage ratio increased to 33.78, which is a positive sign as it indicates an improvement in the company's ability to cover its interest expenses.
Overall, AutoZone Inc has generally maintained a strong interest coverage ratio, showcasing its ability to manage its interest obligations effectively. It is important for investors and analysts to monitor this ratio to assess the company's financial health and ability to meet its debt obligations.