O’Reilly Automotive Stock Hits Record High Amid Strong Buyback Program

O'Reilly Automotive shares reached an all-time high of $104.44 on August 6, hovering within 2% of that peak as market momentum persists. The stock has surged 230% over five years, dwarfing the S&P 500's 88% gain during the same period.

What makes this performance remarkable is the company's modest 9% annual revenue growth. The real driver has been aggressive share repurchases—O'Reilly reduced outstanding shares by 24% since 2020, artificially boosting earnings per share through supply contraction.

With nearly 6,500 retail locations, the auto parts retailer demonstrates how capital allocation strategies can outweigh organic growth in shareholder returns. The stock's resilience suggests investors continue rewarding disciplined capital return programs over pure top-line expansion.