01—Abstract
Summary
Summary of the 10-K filed February 27, 2026. Cited figures are marked; the original filing is the authoritative source.
O'Reilly Automotive, Inc. (ORLY) reported a strong performance for the fiscal year ended December 31, 2025.
The company demonstrated consistent growth, driven by a 4.7%a increase in comparable store sales, indicating robust demand from both its DIY and professional service provider customer segments. This growth was supported by an expanding store footprint, with 207 net new stores opened during the year, contributing significantly to the overall sales increase.
The company's dual-market strategy, superior customer service, and efficient distribution network continue to be key competitive advantages, allowing it to navigate a dynamic retail environment. Management remains focused on strategic growth initiatives, including further store expansion and enhancements to its omnichannel capabilities, positioning O'Reilly for continued success in the automotive aftermarket industry.
02—Key points
Key Highlights
- O'Reilly reported a 6% increase in total sales to $17.78 billion for the fiscal year ended December 31, 2025.
- Comparable store sales increased by a healthy 4.7% in 2025, indicating strong underlying demand.
- The company continued its aggressive store expansion, opening 207 net new stores, bringing the total store count to 6,585.
- Gross profit margin improved slightly to 51.6% of sales, driven by better acquisition costs and distribution efficiencies.
- Selling, general, and administrative expenses (SG&A) as a percentage of sales increased slightly to 32.1%, primarily due to inflationary pressures and investments in employee compensation.
- Diluted earnings per share (EPS) increased by 10% to $2.97, reflecting the company's ability to translate sales growth into profitability.
- The company maintains a strong balance sheet with $6.02 billion in total debt and a consolidated leverage ratio of 1.92x, remaining compliant with debt covenants.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2025, O Reilly Automotive Inc kept $0.14.
- Revenue$17.78B100.0%
- Cost of revenue−$8.61B48.4%
- Gross profit$9.17B51.6%
- Operating costs−$5.71B32.1%
- Operating income$3.46B19.5%
- Interest, other & tax−$922.4M5.2%
- Net income$2.54B14.3%
Where FY2025 revenue went
$17.78B- Cost of revenue: $8.61B, 48% of revenue
- SG&A: $5.71B, 32% of revenue
- Net income: $2.54B, 14% of revenue
- Interest, other & tax: $922.4M, 5.2% of revenue
Kept 14% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 27, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $17.78B$16.71B | +6.4% |
| Cost of Revenue | $8.61B$8.15B | +5.6% |
| Gross Profit | $9.17B$8.55B | +7.2% |
| SG&A Expenses | $5.71B$5.30B | +7.7% |
| Operating Income | $3.46B$3.25B | +6.4% |
| Interest Expense | $235.06M$222.55M | +5.6% |
| Net Income | $2.54B$2.39B | +6.3% |
| EPS (Basic) | $2.98$2.73 | +9.2% |
| EPS (Diluted) | $2.97$2.71 | +9.6% |
| Shares Outstanding (Basic) | 851.47M875.08M | −2.7% |
| Shares Outstanding (Diluted) | 855.92M880.57M | −2.8% |
05—Questions
Frequently Asked Questions
What was O'Reilly's overall sales performance in 2025?
O'Reilly reported a 6% increase in total sales, reaching $17.78 billion for the fiscal year ended December 31, 2025. This growth was driven by both comparable store sales increases and the opening of new locations.
How did the company's store network expand in 2025?
The company continued its strategic expansion by opening 207 net new stores during 2025, bringing the total number of stores to 6,585 across its operating regions. This expansion is a key component of its growth strategy.
What is O'Reilly's outlook for new store development in 2026?
O'Reilly plans to continue its aggressive new store opening strategy, targeting the opening of 225 to 235 net new stores in 2026.
How did O'Reilly manage its expenses in 2025?
While sales grew, Selling, General, and Administrative (SG&A) expenses as a percentage of sales saw a slight increase to 32.1% due to inflationary pressures and investments in team members. However, gross profit margin improved to 51.6% due to better cost management and distribution efficiencies.
06—Continue