O Reilly Automotive
ORLY · NasdaqRetail-Auto & Home Supply Stores · Fiscal year ends Dec 31
O Reilly Automotive reported revenue of $17.8B in the fiscal year ended Dec 2025, up 6.4% from the year before. Operating income was $3.5B, an operating margin of 19.5%, and net income was $2.5B. Operating cash flow of $2.8B less capital expenditure of $1.2B left free cash flow of $1.6B. Net debt was $5.8B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $13.3B | $14.4B | $15.8B | $16.7B | $17.8B |
| Cost of revenue | $6.3B | $7B | $7.7B | $8.2B | $8.6B |
| Gross profit | $7B | $7.4B | $8.1B | $8.6B | $9.2B |
| Selling, general & admin | $4.1B | $4.4B | $4.9B | $5.3B | $5.7B |
| Operating income | $2.9B | $3B | $3.2B | $3.3B | $3.5B |
| Interest expense | $145M | $158M | $202M | $223M | $235M |
| Pre-tax income | $2.8B | $2.8B | $3B | $3B | $3.2B |
| Income tax | $617M | $626M | $658M | $658M | $702M |
| Net income | $2.2B | $2.2B | $2.3B | $2.4B | $2.5B |
| Diluted EPS | 31.10 | 33.44 | 2.56 | 2.71 | 2.97 |
| Diluted shares | 70M | 65M | 915M | 881M | 856M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $362M | $109M | $279M | $130M | $194M |
| Receivables | $273M | $343M | $375M | $357M | $390M |
| Inventory | $3.7B | $4.4B | $4.7B | $5.1B | $5.7B |
| Current assets | $4.5B | $5B | $5.6B | $5.8B | $6.7B |
| Net PP&E | $4.2B | $4.4B | $5B | $5.6B | $6.3B |
| Goodwill | $879M | $884M | $898M | $930M | $948M |
| Total assets | $11.7B | $12.6B | $13.9B | $14.9B | $16.5B |
| Payables | $4.7B | $5.9B | $6.1B | $6.5B | $7.1B |
| Current liabilities | $5.9B | $7.1B | $7.7B | $8.3B | $8.8B |
| Long-term debt | $3.8B | $4.4B | $5.6B | $5.5B | $6B |
| Shareholders' equity | −$66M | −$1.1B | −$1.7B | −$1.4B | −$763M |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $3.2B | $3.1B | $3B | $3B | $2.8B |
| Capital expenditure | $443M | $563M | $1B | $1B | $1.2B |
| Free cash flow | $2.8B | $2.6B | $2B | $2B | $1.6B |
| Depreciation & amortisation | $328M | $358M | $409M | $462M | $511M |
| Stock-based compensation | $25M | $26M | $28M | $29M | $35M |
| Share buybacks | $2.5B | $3.3B | $3.2B | $2.1B | $2.1B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 8.1% | 9.7% | 5.7% | 6.4% |
| Operating income growth (YoY) | – | 1.3% | 7.8% | 2.0% | 6.4% |
| EPS growth (YoY) | – | 7.5% | −92.3% | 5.9% | 9.6% |
| Gross margin | 52.7% | 51.2% | 51.3% | 51.2% | 51.6% |
| Operating margin | 21.9% | 20.5% | 20.2% | 19.5% | 19.5% |
| Net margin | 16.2% | 15.1% | 14.8% | 14.3% | 14.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 49.9% | 53.1% | 51.3% | 49.2% | 44.6% |
| Free cash flow margin | 20.7% | 17.9% | 12.8% | 12.1% | 9.0% |
| Cash conversion (CFO ÷ net income) | 1.48x | 1.45x | 1.29x | 1.28x | 1.09x |
| Receivable days | 7 | 9 | 9 | 8 | 8 |
| Inventory days | 213 | 226 | 221 | 228 | 243 |
| Payable days | 272 | 305 | 288 | 292 | 301 |
| Interest cover | 20.2x | 18.7x | 15.8x | 14.6x | 14.7x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $3.5B | $4.3B | $5.3B | $5.4B | $5.8B |
| Current ratio | 0.77x | 0.71x | 0.73x | 0.71x | 0.77x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.