During a recent episode of his show, Jim Cramer responded to a caller's question about AutoZone, Inc. (NYSE: AZO). The caller noted the stock's price-to-earnings ratio had fallen to around 23 despite what they described as still good company earnings and growth.
Cramer said, "Yeah, people didn't like that last quarter... And the reason why the stock is going down is this company is so darn consistent that when it reported an inconsistent number, I can't believe the jailbreak. I think they're fine. I think the next quarter is going to be better. This company always pivots and always pivots well. I'd be a buyer."
AutoZone sells automotive replacement parts and accessories. In the December 17, 2025, episode, Cramer explained the stock's historical performance.
He remarked, "Finally, there's one that I've recommended to you endlessly, and that is AutoZone, the auto parts retailer, which has shrunk its share count by 44.9%, can you believe that, since the end of 2015, 44.9%. If you go back to the summer of 1998, AutoZone's shrunk its share count by roughly 89%. That's why the stock's been a massive long-term outperformer I always recommended. At the same time, I like the fundamentals here. Rates are still high. Getting financing for new cars is expensive, so people need new parts to make their old cars last longer. Plus, AutoZone's pulled back 22% from its highs. You know what? I'd be a buyer. I bet the company is too."