Share buybacks effect on Autozone ($AZO) EPS
Share buybacks usually don't get the same attention as dividends, but the results in the long-term can be amazing. As an example, take a look at Autozone ($AZO). That's a good company, with a net income CAGR of 10.43% since 2009, that looks solid, but not spectacular. But when you look at the shares outstanding, $AZO has reduced by over 60% in the same period, that resulted in an amazing 18.95% EPS CAGR.
Autozone shares outstanding since 2009
That's a lot for any standard you want to use, especially for a relatively common business. Sometimes we found great results in companies that don't look that attractive in a first glance. Ordinary business can deliver surprising results when they are consistent in the long run.
$AZO returns since 2009 compared to SP500.