AZO vs ORLY: AutoZone and O’Reilly Automotive compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- O’Reilly Automotive is the larger company, worth $73.4B, about 1.5 times AutoZone.
- O’Reilly Automotive grew revenue faster over the last year (+8.1% vs +2.4%).
- O’Reilly Automotive keeps more of each dollar of revenue as operating profit (19.6% vs 19.1%).
- On earnings, AutoZone is the cheaper stock (20.3x vs 28.9x).
- O’Reilly Automotive's price assumes faster free cash flow growth: about 16% a year, against 9% for AutoZone (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AZO | ORLY |
|---|---|---|
| Market cap | $48.0B | $73.4B |
| Share price | $2,939.85 | $86.45 |
| Revenue (last fiscal year) | $18.9B | $17.8B |
| Free cash flow (last fiscal year) | $1.8B | $1.6B |
| Revenue growth, last year | +2.4% | +8.1% |
| Revenue growth per year, last 5 fiscal years | +6.7% | +7.5% |
| Operating margin | 19.1% | 19.6% |
| Net margin | 13.2% | 14.3% |
| Return on equity | — | — |
| P/E (trailing) | 20.3x | 28.9x |
| Price / free cash flow | 26.8x | 46.1x |
| EV / EBITDA | 14.8x | 18.9x |
| FCF growth the price implies | 8.8% | 15.9% |
| Dividend yield | — | — |
| Debt / equity | — | — |
| Fundamental grade | D | C |
| Superinvestors holding it | 6 | 6 |
| Insider purchases, last 12 months | 7 | 6 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
AutoZone
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $14.6B | $2.9B | 20.1% |
| 2022 | $16.3B | $2.5B | 20.1% |
| 2023 | $17.5B | $2.1B | 19.9% |
| 2024 | $18.5B | $1.9B | 20.5% |
| 2025 | $18.9B | $1.8B | 19.1% |
O’Reilly Automotive
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.3B | $2.8B | 21.9% |
| 2022 | $14.4B | $2.6B | 20.5% |
| 2023 | $15.8B | $2.0B | 20.2% |
| 2024 | $16.7B | $2.0B | 19.5% |
| 2025 | $17.8B | $1.6B | 19.5% |
Where the revenue comes from
AutoZone · by segments, 2024
Auto Parts Stores$18.2B98%
Other$339M2%
O’Reilly Automotive
No segment breakdown reported.
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AZO in InvestinglyQuestions
Which is bigger, AutoZone or O’Reilly Automotive?
O’Reilly Automotive (ORLY), at $73.4B against $48.0B.
Is AZO or ORLY cheaper?
By trailing P/E, AutoZone (20.3x) is cheaper than O’Reilly Automotive (28.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, AZO or ORLY?
O’Reilly Automotive: revenue grew +8.1% over the last year, against +2.4%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.