ORLY · 10-Q · 2026Q3 · Full report
Outstanding Indebtedness
O REILLY AUTOMOTIVE INC · 2026-11-06 · Importance 78 · Surprise 66 · From source text
GAAP debt was $7.711 billion at September 30, 2026, compared with $5.916 billion a year earlier. The company issued $2.5 billion aggregate principal amount of senior notes during the first nine months of 2026 and repaid $500 million of senior notes at maturity. The consolidated leverage ratio rose to 2.16 from 1.93, while the company remained in compliance with borrowing covenants. The revolving-credit agreement sets a maximum consolidated leverage ratio of 3.50:1.00 and a minimum fixed-charge coverage ratio of 2.50:1.00.
Key facts
- O’Reilly’s financing cash use increased in the nine months ended September 30, 2026, partly because of increased common stock repurchases, a net commercial paper paydown rather than net borrowings, and repayment at maturity of $500 million of senior notes, partly offset by issuing $2.5 billion of senior notes. source
- O’Reilly’s Credit Agreement requires a minimum consolidated fixed charge coverage ratio of 2.50:1.00 and a maximum consolidated leverage ratio of 3.50:1.00. source
- O’Reilly’s GAAP debt was $7,711.498 million for the twelve months ended September 30, 2026, compared with $5,915.530 million in 2025. source
- O’Reilly’s consolidated fixed charge coverage ratio was 6.06 times as of September 30, 2026, compared with 6.03 times as of September 30, 2025. source
- O’Reilly’s consolidated leverage ratio was 2.16 times as of September 30, 2026, compared with 1.93 times as of September 30, 2025. source
- As of September 30, 2026, O’Reilly was in compliance with the covenants applicable to its senior notes. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +13.9% | O’Reilly’s financing cash use increased in the nine months ended September 30, 2026, partly because of increased common stock repurchases,… |
| liability | negative | realized | -10.2% | O’Reilly’s GAAP debt was $7,711.498 million for the twelve months ended September 30, 2026, compared with $5,915.530 million in 2025. |
| cash | negative | realized | -2.8% | O’Reilly’s financing cash use increased in the nine months ended September 30, 2026, partly because of increased common stock repurchases,… |
| cash | negative | realized | — | O’Reilly’s financing cash use increased in the nine months ended September 30, 2026, partly because of increased common stock repurchases,… |
| cash | negative | realized | — | O’Reilly’s financing cash use increased in the nine months ended September 30, 2026, partly because of increased common stock repurchases,… |