O’Reilly Automotive Stock’s All-Time High: A So-It-Goes Tale

On Aug. 6, O’Reilly Automotive stock closed at $104.44. That’s a number. It means something to some people. To others, it’s just another day in the life of a market that forgets everything by Tuesday. But here we are. The stock has not only reached its peak-it’s been there, done that, and is now eyeing a sequel. Or a prequel. Or a sequel to a prequel. So it goes.

O’Reilly’s shares have outpaced the S&P 500 by 142 percentage points over five years. The S&P, that old workhorse, is content to lumber along at 88%. O’Reilly? It’s sprinted, then hitched a ride on a rocket. But let’s not get carried away. Growth like this doesn’t happen in a vacuum. It happens in a buyback. Or, as the company might call it, “a very serious commitment to reducing share counts.”

From 76 million shares in 2020 to 58 million in 2024. That’s 24% fewer shares. That’s also 24% fewer people to argue about the stock price. Earnings per share? They’ve climbed, naturally. Because when you give shareholders less to fight over, they get creative. Or they don’t. Either way, the number goes up. So it goes.

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What’s next?

O’Reilly operates 6,500 stores. That’s a lot of oil changes and windshield wipers. Management expects same-store sales to rise in 2025. They also expect profit margins to stay fat and happy. And the buybacks? They’ll continue. Because what is a stock price if not a math problem dressed in a suit and tie?

Investors, meanwhile, will watch. They’ll whisper about buybacks and earnings. They’ll ignore the 9% annual revenue growth and focus on the EPS. Because that’s how the game is played. Not with cars or oil, but with numbers and hope. And maybe a little bit of luck. Or, as Vonnegut might say, “the illusion of control.”

So it goes. 🚀

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2025-08-27 03:13