AutoZone, Inc., the American aftermarket automotive parts and accessories is undervalued, according to Wolfteam Ltd.'s projections and estimates.
With 17.46 billion USD in revenue, growing at 7.41 % with net profit margin of 14.48 % for the fiscal 2023, AutoZone is undervalued.
AutoZone's intrinsic value is 52 billion USD compared with AutoZone's current market capitalization of 44.42 billion USD, according to Wolfteam Ltd.'s estimates.
Excerpt from AutoZone's 1st Fiscal Quarter 2024:
MEMPHIS, Tenn., Dec. 05, 2023 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE: AZO) today reported net sales of $4.2 billion for its first quarter (12 weeks) ended November 18, 2023,
an increase of 5.1% from the first quarter of fiscal 2023 (12 weeks).
Same store sales, or sales for our domestic and international stores
open at least one year, are as follows:
| Constant Currency | ||||||
| 12 Weeks | 12 Weeks* | |||||
| Domestic | 1.2 | % | 1.2 | % | ||
| International | 25.1 | % | 10.9 | % | ||
| Total Company | 3.4 | % | 2.1 | % | ||
| * Excludes impacts from fluctuations of foreign exchange rates. | ||||||
For the quarter, gross profit, as a percentage of sales, was 52.8%, an increase of 279 basis points versus the prior year. The increase in gross margin was driven by 208 basis point ($83 million net) non-cash LIFO favorability, with the remaining leverage primarily from favorable supply chain costs and higher merchandise margins. Operating expenses, as a percentage of sales, were 32.6% versus last year at 31.9%. Deleverage was primarily driven by domestic store payroll and investment in technology related initiatives.
Operating profit increased 17.4% to $848.6 million. Net income for the quarter increased 10.0% over the same period last year to $593.5 million, while diluted earnings per share increased 18.6% to $32.55.
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