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Side-by-side financial comparison of AutoZone (AZO) and Ferguson Enterprises Inc. (FERG). Click either name above to swap in a different company.
Ferguson Enterprises Inc. is the larger business by last-quarter revenue ($8.2B vs $4.3B, roughly 1.9× AutoZone). AutoZone runs the higher net margin — 11.0% vs 7.0%, a 4.0% gap on every dollar of revenue. On growth, AutoZone posted the faster year-over-year revenue change (8.1% vs 5.1%). Ferguson Enterprises Inc. produced more free cash flow last quarter ($312.0M vs $35.6M). Over the past eight quarters, Ferguson Enterprises Inc.'s revenue compounded faster (5.7% CAGR vs 0.5%).
AutoZone, Inc., doing business as AutoZone, is an American retailer of aftermarket automotive parts and accessories, the largest in the United States. Founded in 1979, AutoZone has 7,140 stores across the United States, Mexico, Puerto Rico, Brazil, and the US Virgin Islands. The company is based in Memphis, Tennessee.
Ferguson Enterprises Inc., headquartered in Newport News, Virginia and organized in Delaware, is the largest U.S. distributor of plumbing, heating, ventilation and air conditioning (HVAC), appliances, and lighting to pipes, valves and fittings (PVF), and water and wastewater products. The company receives 95% of its revenue in the United States and 5% of its revenue in Canada. The company has 36,000 suppliers and operates from 11 regional distribution centers, four MDCs, approximately 5,900 f...
AZO vs FERG — Head-to-Head
Income Statement — Q2 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $4.3B | $8.2B |
| Net Profit | $468.9M | $570.0M |
| Gross Margin | 52.5% | 30.7% |
| Operating Margin | 16.3% | 9.4% |
| Net Margin | 11.0% | 7.0% |
| Revenue YoY | 8.1% | 5.1% |
| Net Profit YoY | -3.9% | 21.3% |
| EPS (diluted) | $27.63 | $2.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $4.3B | — | ||
| Q4 25 | $4.6B | $8.2B | ||
| Q3 25 | $6.2B | $8.5B | ||
| Q2 25 | $4.5B | $7.6B | ||
| Q1 25 | $4.0B | $6.9B | ||
| Q4 24 | $4.3B | $7.8B | ||
| Q3 24 | $6.2B | $7.9B | ||
| Q2 24 | $4.2B | $7.3B |
| Q1 26 | $468.9M | — | ||
| Q4 25 | $530.8M | $570.0M | ||
| Q3 25 | $837.0M | $700.0M | ||
| Q2 25 | $608.4M | $410.0M | ||
| Q1 25 | $487.9M | $276.0M | ||
| Q4 24 | $564.9M | $470.0M | ||
| Q3 24 | $902.2M | $451.0M | ||
| Q2 24 | $651.7M | $443.0M |
| Q1 26 | 52.5% | — | ||
| Q4 25 | 51.0% | 30.7% | ||
| Q3 25 | 51.5% | 31.7% | ||
| Q2 25 | 52.7% | 31.0% | ||
| Q1 25 | 53.9% | 29.7% | ||
| Q4 24 | 53.0% | 30.1% | ||
| Q3 24 | 52.5% | 31.0% | ||
| Q2 24 | 53.5% | 30.5% |
| Q1 26 | 16.3% | — | ||
| Q4 25 | 16.9% | 9.4% | ||
| Q3 25 | 19.2% | 10.9% | ||
| Q2 25 | 19.4% | 8.0% | ||
| Q1 25 | 17.9% | 6.0% | ||
| Q4 24 | 19.7% | 8.6% | ||
| Q3 24 | 20.9% | 10.2% | ||
| Q2 24 | 21.3% | 8.6% |
| Q1 26 | 11.0% | — | ||
| Q4 25 | 11.5% | 7.0% | ||
| Q3 25 | 13.4% | 8.2% | ||
| Q2 25 | 13.6% | 5.4% | ||
| Q1 25 | 12.3% | 4.0% | ||
| Q4 24 | 13.2% | 6.0% | ||
| Q3 24 | 14.5% | 5.7% | ||
| Q2 24 | 15.4% | 6.1% |
| Q1 26 | $27.63 | — | ||
| Q4 25 | $31.04 | $2.90 | ||
| Q3 25 | $48.70 | $3.53 | ||
| Q2 25 | $35.36 | $2.07 | ||
| Q1 25 | $28.29 | $1.38 | ||
| Q4 24 | $32.52 | $2.34 | ||
| Q3 24 | $51.42 | $2.23 | ||
| Q2 24 | $36.69 | $2.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $285.5M | $526.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-2.9B | $6.1B |
| Total Assets | $20.4B | $17.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $285.5M | — | ||
| Q4 25 | $287.6M | $526.0M | ||
| Q3 25 | $271.8M | $674.0M | ||
| Q2 25 | $268.6M | $519.0M | ||
| Q1 25 | $300.9M | $764.0M | ||
| Q4 24 | $304.0M | $601.0M | ||
| Q3 24 | $298.2M | $571.0M | ||
| Q2 24 | $275.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | — |
| Q1 26 | $-2.9B | — | ||
| Q4 25 | $-3.2B | $6.1B | ||
| Q3 25 | $-3.4B | $5.8B | ||
| Q2 25 | $-4.0B | $5.5B | ||
| Q1 25 | $-4.5B | $5.5B | ||
| Q4 24 | $-4.7B | $5.7B | ||
| Q3 24 | $-4.7B | $5.6B | ||
| Q2 24 | $-4.8B | $5.5B |
| Q1 26 | $20.4B | — | ||
| Q4 25 | $19.7B | $17.7B | ||
| Q3 25 | $19.4B | $17.7B | ||
| Q2 25 | $18.6B | $17.3B | ||
| Q1 25 | $18.1B | $16.5B | ||
| Q4 24 | $17.5B | $16.9B | ||
| Q3 24 | $17.2B | $16.6B | ||
| Q2 24 | $17.1B | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $373.4M | $430.0M |
| Free Cash FlowOCF − Capex | $35.6M | $312.0M |
| FCF MarginFCF / Revenue | 0.8% | 3.8% |
| Capex IntensityCapex / Revenue | 7.9% | 1.4% |
| Cash ConversionOCF / Net Profit | 0.80× | 0.75× |
| TTM Free Cash FlowTrailing 4 quarters | $1.6B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $373.4M | — | ||
| Q4 25 | $944.2M | $430.0M | ||
| Q3 25 | $952.8M | $541.0M | ||
| Q2 25 | $769.0M | $682.0M | ||
| Q1 25 | $583.7M | $340.0M | ||
| Q4 24 | $811.8M | $345.0M | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $669.5M | — |
| Q1 26 | $35.6M | — | ||
| Q4 25 | $630.0M | $312.0M | ||
| Q3 25 | $511.1M | — | ||
| Q2 25 | $423.1M | $605.0M | ||
| Q1 25 | $291.0M | $259.0M | ||
| Q4 24 | $564.8M | $268.0M | ||
| Q3 24 | $723.5M | — | ||
| Q2 24 | $434.4M | — |
| Q1 26 | 0.8% | — | ||
| Q4 25 | 13.6% | 3.8% | ||
| Q3 25 | 8.2% | — | ||
| Q2 25 | 9.5% | 7.9% | ||
| Q1 25 | 7.4% | 3.8% | ||
| Q4 24 | 13.2% | 3.4% | ||
| Q3 24 | 11.7% | — | ||
| Q2 24 | 10.3% | — |
| Q1 26 | 7.9% | — | ||
| Q4 25 | 6.8% | 1.4% | ||
| Q3 25 | 7.1% | — | ||
| Q2 25 | 7.7% | 1.0% | ||
| Q1 25 | 7.4% | 1.2% | ||
| Q4 24 | 5.8% | 1.0% | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 5.6% | — |
| Q1 26 | 0.80× | — | ||
| Q4 25 | 1.78× | 0.75× | ||
| Q3 25 | 1.14× | 0.77× | ||
| Q2 25 | 1.26× | 1.66× | ||
| Q1 25 | 1.20× | 1.23× | ||
| Q4 24 | 1.44× | 0.73× | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | 1.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
