AutoZone Trades at 5-Year Valuation Low Despite Amazon-Proof Q3 Beat

AutoZone is drawing contrarian interest after its stock fell 16% over the past year and 8% year to date, pushing its forward P/E to 18 — below its five-year average — even as fundamentals strengthen. The company's Q3 FY2026 results were notably solid, with EPS of $38.07 beating the $36.17 consensus and revenue rising 8.4% year over year to $4.84 billion. Domestic commercial sales surged 10.4% to $1.40 billion, reinforcing the durability of its in-store 'consult to sell' model, which limits online penetration to just 1-2% of sales. Insider buying and aggressive share buybacks add to the bullish case for a structurally resilient business at a compressed valuation.