AutoZone FY 2026: Revenue $20.34B, EPS $152.55— 10-K Summary

What happened

AutoZone reported fiscal 2026 net sales of $20.34 billion, up 7.4%, net income of $2.57 billion, up 3%, and diluted earnings per share of $152.55, up 5.3%. It opened 374 net new stores, ending with 8,031 locations.

Confirmed

Global impact / market context

Sales grew faster than profit, so costs or other items likely absorbed part of the revenue gain. Investors watching profit per sale should note this gap. The company also plans slightly higher investment in new stores and larger hub locations for fiscal 2027.

Analyst inference

Domestic commercial sales rose 10.6% to $5.7 billion, which is 33.1% of domestic sales, while domestic comparable sales grew 3.3%. Management cited an aging vehicle fleet as demand support, with failure and maintenance categories at about 85% of sales.

Analyst inference

What to watch

1. AutoZone expects fiscal 2027 investment to increase slightly, with spending focused on new stores and expanded hub and mega hub locations, which are larger parts depots serving nearby stores. Confirmed
2. Watch whether commercial sales keep growing faster than overall domestic sales, since that business now provides about a third of domestic sales and can lift revenue. Analyst inference
3. Watch whether sales growth continues to outpace net income growth, because that gap suggests costs are rising and could pressure profit per sale. Analyst inference

Evidence

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