ORLYO'Reilly Automotive

Consumer discretionary · Auto Parts Retail · Nasdaq

Unless otherwise indicated, “we,” “us,” “our,” and similar terms, as well as references to the “Company,” refer to O’Reilly Automotive, Inc. and its Subsidiaries. 10-K, Item 1

Employees: 92,923
Headquarters: Springfield, MO
CEO: Brad W. Beckham
Next results: around Feb 3, 2027

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What the 10-K filed 2026-02-27 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-28.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

No specific sentence about this in the 10-K.

Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

No specific sentence about this in the 10-K.

Lawsuits and legal claims

1 new

Pending cases, settlements and what the company has set aside for them.

“Based on existing facts and historical patterns, the Company accrues for litigation losses in instances where an adverse outcome is probable and the Company is able to reasonably estimate the probable loss in accordance with Accounting Standard Codification 450-20.”
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“The Company also accrues for an estimate of legal costs to be incurred for litigation matters.”
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New “Our self-insurance reserve estimate included on our Consolidated Balance Sheets increased $175 million from 2024 to 2025, which is primarily due to general litigation accruals, inflation in claim development costs, our growing operations, increases in healthcare costs, the number of vehicles, and the number of hours worked, partially offset by having resolved and paid out claims throughout 2025.”
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Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

No specific sentence about this in the 10-K.

Debt covenants

Conditions in loan agreements that, if broken, can make debt due early.

“The Credit Agreement contains certain covenants, including limitations on indebtedness, a minimum consolidated fixed charge coverage ratio of 2.50:1.00 and a maximum consolidated leverage ratio of 3.50:1.00.”
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“We had a consolidated fixed charge coverage ratio of 6.08 times and 6.11 times as of December 31, 2025 and 2024, respectively, and a consolidated leverage ratio of 1.92 times and 1.89 times as of December 31, 2025 and 2024, respectively, remaining in compliance with all covenants related to the borrowing arrangements.”
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“The table below outlines the calculations of the consolidated fixed charge coverage ratio and consolidated leverage ratio covenants, as defined in the Credit Agreement governing our revolving credit facility, for the years ended December 31, 2025 and 2024 (dollars in thousands):”
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“We believe that the presentation of our free cash flow, consolidated fixed charge coverage ratio, and consolidated leverage ratio provides meaningful supplemental information to both management and investors and reflects the required covenants under the Credit Agreement.”
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“The Credit Agreement contains certain covenants, including limitations on subsidiary indebtedness, a minimum consolidated fixed charge coverage ratio of 2.50:1.00 and a maximum consolidated leverage ratio of 3.50:1.00.”
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Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

“As of December 31, 2025, the Company had purchase obligations for construction contract commitments in the amount of $275.9 million.”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

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