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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The biggest changes in the 10-K filed 2026-02-27, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.

Cash from operations

-9.4% FY to 2025-12-31 vs 2024-12-31

“The decrease in net cash provided by operating activities in 2025 compared to 2024 was primarily due to the timing of payment for transferrable federal renewable energy tax credits, partially offset by an increase in operating income.”
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Revenue

+6.4% FY to 2025-12-31 vs 2024-12-31

“The increase in sales for the year ended December 31, 2025, was primarily the result of the 4.7% increase in domestic comparable store sales, a $354 million increase in sales from new stores opened in 2024 and 2025 that are not considered comparable stores, partially offset by the effect of sales from one additional day in the prior year due to Leap Day.”
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“Our comparable store sales increase for the year ended December 31, 2025, was driven by an increase in average ticket value for both professional service provider and DIY customers and an increase in transaction counts for professional service provider customers, partially offset by a decrease in transaction counts for DIY customers.”
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Net income

+6.3% FY to 2025-12-31 vs 2024-12-31

“The increase in our provision for income taxes for the year ended December 31, 2025, was primarily the result of higher taxable income and lower excess tax benefits from share-based compensation.”
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“The increase in our effective tax rate for the year ended December 31, 2025, was primarily the result of lower excess tax benefits from share-based compensation partially offset by higher transferable federal renewable energy tax credits.”
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Gross margin

51.2% → 51.6% (+0.4 pts) FY to 2025-12-31 vs 2024-12-31

“The increase in gross profit dollars for the year ended December 31, 2025, was primarily the result of increase in comparable store sales at existing stores and sales from new stores, partially offset by prior year gross profit dollars generated from one additional day due to Leap Day.”
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“The increase in gross profit as a percentage of sales for the year ended December 31, 2025, was due to improved acquisition costs and distribution operating efficiencies, partially offset by a greater percentage of our total sales mix being generated from professional service provider customers, which carry a lower gross margin percentage than DIY sales.”
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Operating margin

19.5% → 19.5% (+0.0 pts) FY to 2025-12-31 vs 2024-12-31

The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.

Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗

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