Q4 2025 - AutoZone - Analysis

Driving more market share gains by taking a more prudent stance on pricing?

Today, before the bell, AutoZone reported its Q4 2025 results, confirming the sequential acceleration in same-store sales growth in Commercial/DIFM.

Meanwhile, a 80m USD LIFO charge, continuous SG&A spending to drive growth through new store openings and IT, the ramp-up in CAPEX, and FX headwinds pulled reported EBIT and EPS down.

Year-to-date, shares are up 26.7% (trailing its main peer, O’Reilly.

Let’s break down the report with a focus on the key financial items. As shared in our Discord channel, we’re working to make earnings recaps more interactive: highlighting individual components to provide more context so readers can make their own assumptions more easily, rather than sharing the final information shown in our graphs.