AutoZone Net Income vs Receivables Turnover Analysis

AZO Stock  USD 3,193  1.31  0.04%   
AutoZone financial indicator trend analysis is way more than just evaluating AutoZone prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether AutoZone is a good investment. Please check the relationship between AutoZone Net Income and its Receivables Turnover accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AutoZone. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
To learn how to invest in AutoZone Stock, please use our How to Invest in AutoZone guide.

Net Income vs Receivables Turnover

Net Income vs Receivables Turnover Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of AutoZone Net Income account and Receivables Turnover. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between AutoZone's Net Income and Receivables Turnover is -0.59. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Receivables Turnover in the same time period over historical financial statements of AutoZone, assuming nothing else is changed. The correlation between historical values of AutoZone's Net Income and Receivables Turnover is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Income of AutoZone are associated (or correlated) with its Receivables Turnover. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Receivables Turnover has no effect on the direction of Net Income i.e., AutoZone's Net Income and Receivables Turnover go up and down completely randomly.

Correlation Coefficient

-0.59
Relationship DirectionNegative 
Relationship StrengthVery Weak

Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in AutoZone financial statement analysis. It represents the amount of money remaining after all of AutoZone operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Receivables Turnover

Most indicators from AutoZone's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into AutoZone current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AutoZone. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
To learn how to invest in AutoZone Stock, please use our How to Invest in AutoZone guide.As of the 28th of March 2024, Selling General Administrative is likely to grow to about 6.8 B, while Tax Provision is likely to drop about 446.5 M.
 2021 2022 2023 2024 (projected)
Interest Expense191.6M306.4M352.3M369.9M
Depreciation And Amortization442.2M497.6M572.2M600.8M

AutoZone fundamental ratios Correlations

-0.070.920.99-0.810.93-0.18-0.690.980.391.0-0.690.390.98-0.760.990.980.92-0.570.990.920.990.8-0.440.39-0.71
-0.07-0.18-0.02-0.01-0.220.96-0.230.01-0.23-0.130.35-0.23-0.06-0.55-0.110.090.110.26-0.07-0.210.02-0.350.220.78-0.59
0.92-0.180.92-0.830.97-0.23-0.740.910.250.94-0.850.250.91-0.630.940.890.76-0.580.940.950.880.77-0.30.31-0.58
0.99-0.020.92-0.880.93-0.09-0.721.00.260.99-0.70.260.99-0.780.980.990.9-0.660.990.940.970.79-0.390.43-0.73
-0.81-0.01-0.83-0.88-0.87-0.050.82-0.880.14-0.840.790.14-0.880.64-0.86-0.86-0.660.79-0.87-0.91-0.77-0.620.22-0.370.59
0.93-0.220.970.93-0.87-0.25-0.780.930.180.95-0.90.180.95-0.570.970.910.79-0.610.960.990.890.73-0.40.22-0.51
-0.180.96-0.23-0.09-0.05-0.25-0.23-0.06-0.5-0.230.3-0.5-0.12-0.41-0.180.02-0.020.17-0.15-0.22-0.11-0.460.280.68-0.45
-0.69-0.23-0.74-0.720.82-0.78-0.23-0.730.1-0.690.770.1-0.750.65-0.75-0.77-0.560.3-0.74-0.74-0.68-0.40.15-0.540.62
0.980.010.911.0-0.880.93-0.06-0.730.230.98-0.710.230.99-0.780.980.990.91-0.650.990.940.970.75-0.420.42-0.73
0.39-0.230.250.260.140.18-0.50.10.230.360.051.00.23-0.280.290.230.410.210.280.090.440.48-0.270.05-0.27
1.0-0.130.940.99-0.840.95-0.23-0.690.980.36-0.740.360.98-0.720.990.970.89-0.610.990.940.980.82-0.430.34-0.66
-0.690.35-0.85-0.70.79-0.90.30.77-0.710.05-0.740.05-0.750.27-0.78-0.68-0.510.54-0.75-0.88-0.62-0.510.310.010.21
0.39-0.230.250.260.140.18-0.50.10.231.00.360.050.23-0.280.290.230.410.210.280.090.440.48-0.270.05-0.27
0.98-0.060.910.99-0.880.95-0.12-0.750.990.230.98-0.750.23-0.720.990.980.88-0.630.990.950.960.73-0.470.37-0.66
-0.76-0.55-0.63-0.780.64-0.57-0.410.65-0.78-0.28-0.720.27-0.28-0.72-0.71-0.82-0.780.3-0.74-0.56-0.81-0.510.1-0.841.0
0.99-0.110.940.98-0.860.97-0.18-0.750.980.290.99-0.780.290.99-0.710.970.88-0.61.00.960.970.77-0.420.35-0.65
0.980.090.890.99-0.860.910.02-0.770.990.230.97-0.680.230.98-0.820.970.92-0.580.980.910.980.7-0.420.49-0.77
0.920.110.760.9-0.660.79-0.02-0.560.910.410.89-0.510.410.88-0.780.880.92-0.440.890.770.950.63-0.530.37-0.74
-0.570.26-0.58-0.660.79-0.610.170.3-0.650.21-0.610.540.21-0.630.3-0.6-0.58-0.44-0.63-0.72-0.49-0.590.160.010.26
0.99-0.070.940.99-0.870.96-0.15-0.740.990.280.99-0.750.280.99-0.741.00.980.89-0.630.950.970.78-0.410.38-0.69
0.92-0.210.950.94-0.910.99-0.22-0.740.940.090.94-0.880.090.95-0.560.960.910.77-0.720.950.860.72-0.390.22-0.5
0.990.020.880.97-0.770.89-0.11-0.680.970.440.98-0.620.440.96-0.810.970.980.95-0.490.970.860.76-0.450.45-0.76
0.8-0.350.770.79-0.620.73-0.46-0.40.750.480.82-0.510.480.73-0.510.770.70.63-0.590.780.720.76-0.170.19-0.48
-0.440.22-0.3-0.390.22-0.40.280.15-0.42-0.27-0.430.31-0.27-0.470.1-0.42-0.42-0.530.16-0.41-0.39-0.45-0.170.190.06
0.390.780.310.43-0.370.220.68-0.540.420.050.340.010.050.37-0.840.350.490.370.010.380.220.450.190.19-0.87
-0.71-0.59-0.58-0.730.59-0.51-0.450.62-0.73-0.27-0.660.21-0.27-0.661.0-0.65-0.77-0.740.26-0.69-0.5-0.76-0.480.06-0.87
Click cells to compare fundamentals

AutoZone Account Relationship Matchups

AutoZone fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets14.4B14.5B15.3B16.0B18.4B19.3B
Short Long Term Debt Total2.5B2.6B2.8B2.9B3.4B2.4B
Other Current Liab859.4M1.0B762.5M1.3B1.5B1.6B
Total Current Liabilities6.3B7.4B8.6B8.5B9.8B10.3B
Total Stockholder Equity(878.0M)(1.8B)(3.5B)(4.3B)(3.9B)(3.7B)
Property Plant And Equipment Net7.1B7.6B8.1B13.3B15.3B16.1B
Net Debt726.7M1.5B2.6B2.6B3.0B2.2B
Retained Earnings(1.5B)(419.8M)(1.3B)(3.0B)(2.7B)(2.5B)
Accounts Payable5.2B6.0B7.3B7.2B8.3B8.7B
Cash1.8B1.2B264.4M277.1M318.6M194.4M
Non Current Assets Total7.6B8.1B8.6B9.2B10.6B11.1B
Non Currrent Assets Other118.1M113.7M140.4M(4.6B)(4.1B)(3.9B)
Cash And Short Term Investments1.8B1.2B264.4M277.1M318.6M194.4M
Net Receivables364.8M378.4M504.9M520.4M598.4M628.4M
Common Stock Shares Outstanding24.1M22.8M20.7M19.1M17.2M16.3M
Liabilities And Stockholders Equity14.4B14.5B15.3B16.0B18.4B19.3B
Non Current Liabilities Total9.0B8.9B10.2B11.8B13.6B14.3B
Inventory4.5B4.6B5.6B5.8B6.6B7.0B
Other Current Assets223.0M225.8M220.7M217.8M250.5M263.0M
Other Stockholder Equity927.0M(1.1B)(1.9B)(1.2B)(1.1B)(1.0B)
Total Liab15.3B16.3B18.8B20.3B23.4B24.6B
Property Plant And Equipment Gross4.5B8.8B9.5B13.3B15.3B16.1B
Total Current Assets6.8B6.4B6.6B6.8B7.8B8.2B
Accumulated Other Comprehensive Income(354.3M)(308.0M)(300.5M)(190.8M)(171.8M)(180.3M)
Short Term Debt291.3M326.5M336.3M257.3M295.8M310.6M
Common Stock Total Equity254K237K230K207K186.3K177.0K
Common Stock237K230K207K189K170.1K161.6K
Other Liab848.0M1.0B1.3B1.2B1.4B1.5B
Other Assets145.9M525.3M557.8M309.2M355.5M373.3M
Long Term Debt5.5B5.3B6.1B7.7B8.8B9.3B
Treasury Stock(1.4B)(356.5M)(2.5B)(3.3B)(2.9B)(2.8B)
Property Plant Equipment4.5B7.6B8.1B8.6B9.9B10.4B
Current Deferred Revenue220.4M215.3M188.2M(257.3M)(231.5M)(220.0M)
Short Term Investments76.1M46.0M49.8M39.6M45.6M32.1M
Net Tangible Assets1.6B(1.8B)(3.5B)(4.3B)(3.9B)(3.7B)
Retained Earnings Total Equity(1.3B)(1.5B)(419.8M)(1.3B)(1.2B)(1.3B)
Long Term Debt Total5.5B5.3B6.1B7.9B9.0B5.5B
Capital Surpluse1.3B1.5B1.4B1.5B1.7B1.2B

Pair Trading with AutoZone

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if AutoZone position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in AutoZone will appreciate offsetting losses from the drop in the long position's value.

Moving together with AutoZone Stock

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Moving against AutoZone Stock

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  0.77FNKO Funko Inc Financial Report 2nd of May 2024 PairCorr
  0.72DLTH Duluth Holdings Financial Report 6th of June 2024 PairCorr
  0.51WEYS Weyco GroupPairCorr
The ability to find closely correlated positions to AutoZone could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AutoZone when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back AutoZone - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling AutoZone to buy it.
The correlation of AutoZone is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AutoZone moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AutoZone moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for AutoZone can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether AutoZone offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of AutoZone's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Autozone Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Autozone Stock:
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AutoZone. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
To learn how to invest in AutoZone Stock, please use our How to Invest in AutoZone guide.
Note that the AutoZone information on this page should be used as a complementary analysis to other AutoZone's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.

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When running AutoZone's price analysis, check to measure AutoZone's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy AutoZone is operating at the current time. Most of AutoZone's value examination focuses on studying past and present price action to predict the probability of AutoZone's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move AutoZone's price. Additionally, you may evaluate how the addition of AutoZone to your portfolios can decrease your overall portfolio volatility.
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Is AutoZone's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of AutoZone. If investors know AutoZone will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about AutoZone listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
0.172
Earnings Share
141.7
Revenue Per Share
999.527
Quarterly Revenue Growth
0.046
Return On Assets
0.1423
The market value of AutoZone is measured differently than its book value, which is the value of AutoZone that is recorded on the company's balance sheet. Investors also form their own opinion of AutoZone's value that differs from its market value or its book value, called intrinsic value, which is AutoZone's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because AutoZone's market value can be influenced by many factors that don't directly affect AutoZone's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between AutoZone's value and its price as these two are different measures arrived at by different means. Investors typically determine if AutoZone is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, AutoZone's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.