Autozone Inc Liquidation Value
Cash & Equivalents
Key Metrics
Cash Liquidation Value
Liquid Liquidation Value
Operating Liquidation Value
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Liquidation Ladder
| Metric | Total | Per Share |
|---|---|---|
| Cash Liquidation Value | $-25.22B | $-1,518.31 |
| Liquid Liquidation Value | $-24.52B | $-1,476.27 |
| Operating Liquidation Value | $-17.04B | $-1,025.75 |
Key Components (as of 2026-02-14)
| Cash & Equivalents | $285.49M |
| Accounts Receivable | $698.38M |
| Inventory | $7.48B |
| Current Liabilities | $9.92B |
| Long-term Debt (?) | $8.91B |
| Op. Lease Liability (?) | $3.18B |
| Finance Lease (?) | N/A |
| Shares Outstanding | 16.6M |
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Historical
| Period | Cash | AR | Inventory | AP | Curr Liab | LT Debt | Op Lease | Fin Lease |
|---|---|---|---|---|---|---|---|---|
| 2026-02-14 | $285.49M | $698.38M | $7.48B | $8.30B | $9.92B | $8.91B | $3.18B | N/A |
| 2025-11-22 | $287.64M | $637.84M | $7.14B | $8.26B | $9.81B | $8.62B | $3.14B | N/A |
| 2025-08-30 | $271.80M | $670.14M | $7.03B | $8.03B | $9.52B | $8.80B | $3.09B | $288.42M |
| 2025-05-10 | $268.62M | $588.51M | $6.82B | $7.89B | $9.47B | $8.85B | $3.02B | N/A |
SEC Filings
| Period | Form | Filed | Link |
|---|---|---|---|
| 2026-02-14 | 10-Q | 2026-03-20 | View |
| 2025-11-22 | 10-Q | 2025-12-19 | View |
| 2025-08-30 | 10-K | 2025-10-27 | View |
| 2025-05-10 | 10-Q | 2025-06-13 | View |
| 2025-02-15 | 10-Q | 2025-03-21 | View |
| 2024-11-23 | 10-Q | 2024-12-20 | View |
| 2024-08-31 | 10-K | 2024-10-28 | View |
| 2024-05-04 | 10-Q | 2024-06-07 | View |
AI Insights
AutoZone's liquidation posture as of February 14, 2026 is deeply negative, consistent with prior periods and structurally driven by three compounding factors: a heavily leveraged balance sheet, a large operating lease obligation stack, and a book equity deficit sustained by decades of leveraged buybacks. MFFAIS reports a cash liquidation value of approximately -$21.7B and an operating liquidation value of -$13.5B, figures that are directionally confirmed by the balance sheet data in this filing.
On the asset side, the two largest recoverable positions are inventory ($7.5B gross, recovering ~$4.5B at 60%) and PP&E ($13.4B gross, $7.6B net, recovering ~$3.8B-$5.3B at 50-70%). Accounts receivable of $698M recovers at roughly $630-660M. Cash of $285M recovers at par. Total liquid recoveries net of haircuts would approximate $9-11B.
On the liability side, the obligations are fixed at face and substantially exceed recoverable asset values. Long-term debt (noncurrent) stands at $8.9B; combined with short-term debt and commercial paper the filing discloses total debt of approximately $8.95B. Operating lease liabilities (ASC 842) total $3.5B ($329M current + $3.18B noncurrent). Finance lease liabilities are $432M per the EBITDAR reconciliation table. Accounts payable of $8.3B is the single largest current liability. Supplier finance program obligations disclosed at $5.5B current and $275M noncurrent represent an additional contingent call on liquidity. Accrued liabilities add $1.2B. Total adjusted debt (per AZO's own non-GAAP disclosure) reaches $12.2B including capitalized rent, against which EBITDAR of ~$4.8B produces a 2.5x leverage ratio — stable QoQ from the prior filing (November 22, 2025).
Stockholders' equity stands at -$2.9B, driven by retained earnings deficit of -$4.4B and cumulative treasury stock retired at cost of $39.3B. The average stockholders' deficit in AZO's ROIC table deepened to -$4.7B (trailing four quarters ended Feb 14, 2026) from -$3.6B in the comparable prior-year period, confirming ongoing equity base erosion via buybacks. Variable rate debt increased to $851M from $569.5M at the prior quarter end, a $281M increase driven by commercial paper net issuance of $102.4M plus other movement. Fixed rate debt of $8.1B is unchanged. No new impairments, restructuring charges, or pension resets were disclosed. An ERP system go-live during the current quarter introduces control transition risk but no balance-sheet impact is disclosed.
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