# O'Reilly Automotive Inc. (ORLY) — Financial Analysis

**Exchange:** NASDAQ  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-12  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/ORLY/thesis · /stocks/ORLY/memo

## Financial Snapshot

---
ticker: ORLY
step: 04
generated: 2026-05-12
source: quick-research
---

### O'Reilly Automotive, Inc. (ORLY) — Financial Snapshot

(Note: ORLY executed a 15-for-1 stock split in June 2025; FY24 + FY25 per-share metrics post-split adjusted.)

#### Income Statement Summary

| Metric | FY2023 | FY2024 | FY2025 | YoY (FY25) |
|--------|--------|--------|--------|------------|
| Revenue | $15.81B | $16.71B | ~$17.8B | +6.5% |
| Comparable Sales | +7.9% | +2.9% | ~+5% | recovery |
| Gross Margin | 51.1% | 51.2% | ~51.0% | flat |
| Operating Margin | 20.5% | 19.8% | ~20.0% | flat |
| Net Income | ~$2.35B | ~$2.39B | ~$2.65B | +11% |
| Diluted EPS (post-split adj) | $2.55 | $2.66 | $3.00 (estimated) | +13% |

#### Q1 2026 Results

| Metric | Q1 2026 |
|--------|---------|
| Revenue | $4.56B |
| Comparable Store Sales | +8.1% |
| Operating Income | $842M (+14%) |
| Diluted EPS | +16% YoY |
| Professional DIFM Growth | double-digit |
| DIY Growth | mid-single digit |

#### FY2026 Guidance (Updated)

| Metric | 2026 Guide |
|--------|-----------|
| Revenue | $18.7–19.0B (+5–7%) |
| Comparable Store Sales | mid-single digit |
| Diluted EPS | $3.15–3.25 |
| Net New Store Openings | 225–235 (vs. 200–210 in 2025) |
| Free Cash Flow | $2.5–2.8B (estimated) |

#### Cash Flow & Capital Allocation (FY2025)

| Metric | Value |
|--------|-------|
| Operating Cash Flow | ~$3.0B |
| Capital Expenditures | ~$0.9B |
| Free Cash Flow | ~$2.0–2.4B |
| Share Repurchases | ~$2.5–3.0B (aggressive buyback program) |
| Dividend | NONE (buyback-only return) |
| Cash & Marketable Securities | ~$0.3B |
| Total Debt | ~$5.8B |
| Net Debt / EBITDA | ~1.0x |

#### Key Ratios (approximate)
- P/E: ~33x (FY26E EPS midpoint) | EV/EBITDA: ~22x | FCF Yield: ~3%
- Revenue Growth (FY25): +6.5%
- Same-Store Sales Growth: Q1 2026 +8.1% (industry-leading)
- Operating Margin: ~20% (best-in-class)
- ROIC: ~40%+ (high asset turnover + capital efficiency)
- Dividend: None (Capital return through buybacks only)
- Net Debt / EBITDA: ~1.0x

#### Growth Profile
FY25 / Q1 2026 confirmed O'Reilly's industry-leading execution:
- Revenue +6.5% to $17.8B
- Q1 2026 comp sales +8.1% (substantial outperformance vs. AAP weakness + AZO mid-single-digit)
- Professional DIFM double-digit growth
- DIY mid-single-digit growth
- 14% operating income growth

The 2026 setup:
- $18.7–19B revenue + +13% EPS growth at midpoint
- 225-235 net new stores (~3.6% unit growth)
- International expansion (Mexico Vesta + Canada) ramping
- Aggressive buyback continues; capital return entirely through repurchases

The structural thesis remains intact: **aging vehicle fleet + dual-market execution + share gains from struggling competitors (AAP) = multi-year mid-single-digit comp + 13–15% EPS growth**.

#### Forward Estimates
FY2026 Guide:
- Revenue: $18.7–19.0B
- Diluted EPS: $3.15–3.25 (~+13%)
- Comp Sales: mid-single-digit

Bull case: Comp sales sustained at +7–8% on AAP share donation + DIFM acceleration; international expansion accelerates; multiple expands to 35x P/E; stock could reach $120+. Bear case: DIY softens further; tariffs compress gross margin; competitor AutoZone DIFM push successful; multiple compresses to 28x P/E. Consensus targets $115–125 vs. trading ~$100–110 (~10–20% implied upside).

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/ORLY/fundamental

## Navigation

- Overview: /stocks/ORLY
- Financials (this page): /stocks/ORLY/financials
- Thesis: /stocks/ORLY/thesis
- Investment Memo: /stocks/ORLY/memo
- Coverage universe: /stocks