O’Reilly Automotive (ORLY) financial statements
O’Reilly Automotive reported revenue of $17.8B in fiscal 2025, up 8.4% a year over 9 years.
Net income was $2.5B and the operating margin 19.5%, against 19.8% in 2016.
Free cash flow was $1.6B, and the company returned $2.1B in net buybacks.
The diluted share count fell 41% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from O’Reilly Automotive's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.6B | $9.0B | $9.5B | $10.1B | $11.6B | $13.3B | $14.4B | $15.8B | $16.7B | $17.8B |
| Cost of revenue | $4.1B | $4.3B | $4.5B | $4.8B | $5.5B | $6.3B | $7.0B | $7.7B | $8.2B | $8.6B |
| Gross profit | $4.5B | $4.7B | $5.0B | $5.4B | $6.1B | $7.0B | $7.4B | $8.1B | $8.6B | $9.2B |
| Selling, general and admin | $2.8B | $3.0B | $3.2B | $3.5B | $3.7B | $4.1B | $4.4B | $4.9B | $5.3B | $5.7B |
| Operating income | $1.7B | $1.7B | $1.8B | $1.9B | $2.4B | $2.9B | $3.0B | $3.2B | $3.3B | $3.5B |
| Interest expense | $71M | $91M | $122M | $140M | $161M | $145M | $158M | $202M | $223M | $235M |
| Pre-tax income | $1.6B | $1.6B | $1.7B | $1.8B | $2.3B | $2.8B | $2.8B | $3.0B | $3.0B | $3.2B |
| Income tax | $600M | $504M | $370M | $399M | $514M | $617M | $626M | $658M | $658M | $702M |
| Net income | $1.0B | $1.1B | $1.3B | $1.4B | $1.8B | $2.2B | $2.2B | $2.3B | $2.4B | $2.5B |
| EPS (diluted) | $0.72 | $0.84 | $1.07 | $1.19 | $1.57 | $2.07 | $2.23 | $2.56 | $2.71 | $2.97 |
| Diluted shares | 1.45B | 1.34B | 1.23B | 1.17B | 1.12B | 1.04B | 974M | 915M | 881M | 856M |
| Gross margin | 52.5% | 52.6% | 52.8% | 53.1% | 52.4% | 52.7% | 51.2% | 51.3% | 51.2% | 51.6% |
| Operating margin | 19.8% | 19.2% | 19.0% | 18.9% | 20.8% | 21.9% | 20.5% | 20.2% | 19.5% | 19.5% |
| Net margin | 12.1% | 12.6% | 13.9% | 13.7% | 15.1% | 16.2% | 15.1% | 14.8% | 14.3% | 14.3% |
Balance sheet
Fiscal years, from O’Reilly Automotive's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $147M | $46M | $31M | $40M | $466M | $362M | $109M | $279M | $130M | $194M |
| Receivables | $197M | $216M | $192M | $215M | $230M | $273M | $343M | $375M | $357M | $390M |
| Inventory | $2.8B | $3.0B | $3.2B | $3.5B | $3.7B | $3.7B | $4.4B | $4.7B | $5.1B | $5.7B |
| Total current assets | $3.3B | $3.4B | $3.5B | $3.8B | $4.5B | $4.5B | $5.0B | $5.6B | $5.8B | $6.7B |
| Property, plant and equipment | $3.1B | $3.3B | $3.6B | $3.9B | $4.1B | $4.2B | $4.4B | $5.0B | $5.6B | $6.3B |
| Goodwill | $785M | $789M | $807M | $937M | $881M | $879M | $884M | $898M | $930M | $948M |
| Total assets | $7.2B | $7.6B | $8.0B | $10.7B | $11.6B | $11.7B | $12.6B | $13.9B | $14.9B | $16.5B |
| Total current liabilities | $3.4B | $3.6B | $3.9B | $4.5B | $5.3B | $5.9B | $7.1B | $7.7B | $8.3B | $8.8B |
| Long-term debt | $1.9B | $3.0B | $3.4B | $3.9B | $4.1B | $3.8B | $4.4B | $5.6B | $5.5B | $6.0B |
| Total liabilities | $5.6B | $6.9B | $7.6B | $10.3B | $11.5B | $11.8B | $13.7B | $15.6B | $16.3B | $17.3B |
| Shareholders' equity | $1.6B | $653M | $354M | $397M | $140M | -$66M | -$1.1B | -$1.7B | -$1.4B | -$763M |
| Net debt | $1.7B | $2.9B | $3.4B | $3.9B | $3.7B | $3.5B | $4.3B | $5.3B | $5.4B | $5.8B |
Cash flow
Fiscal years, from O’Reilly Automotive's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.5B | $1.4B | $1.7B | $1.7B | $2.8B | $3.2B | $3.1B | $3.0B | $3.0B | $2.8B |
| Capital spending | $476M | $466M | $504M | $628M | $466M | $443M | $563M | $1.0B | $1.0B | $1.2B |
| Free cash flow | $1.0B | $938M | $1.2B | $1.1B | $2.4B | $2.8B | $2.6B | $2.0B | $2.0B | $1.6B |
| Stock-based compensation | $19M | $19M | $20M | $22M | $23M | $25M | $26M | $28M | $29M | $35M |
| Share buybacks (net) | -$1.5B | -$2.2B | -$1.7B | -$1.4B | -$2.1B | -$2.5B | -$3.3B | -$3.2B | -$2.1B | -$2.1B |
| Net borrowing | — | — | — | — | — | $0 | $0 | $747M | -$548M | $489M |
| Free cash flow margin | 12.0% | 10.4% | 12.8% | 10.6% | 20.4% | 20.7% | 17.9% | 12.8% | 12.1% | 9.0% |
Questions
What was O’Reilly Automotive's revenue in 2025?
$17.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does O’Reilly Automotive generate?
$1.6B in fiscal 2025 (operating cash flow minus capital spending).
From O’Reilly Automotive's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.