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Monro Inc

monro.com

What Do They Do?

Sells tires and automotive repair services to drivers and commercial customers.

How Do They Make Money?

Customers buy undercar repairs, tire replacement and related services; sales are completed when they take their vehicle or merchandise. Some customers buy on account and pay later.

revenue

Segment	Share	How money arrives
Tires Sold outright	48% FY2023: 48%	Sold outright
Maintenance Service Sold outright	27% FY2023: 27%	Sold outright
Brakes Sold outright	13% FY2023: 13%	Sold outright
Steering Sold outright	8.8% FY2023: 8.3%	Sold outright
Batteries Sold outright	1.8% FY2023: 1.5%	Sold outright
Exhaust Sold outright	1.3% FY2023: 1.7%	Sold outright
Franchise Royalties	0.1% FY2023: 0.2%

Who Are Their Customers?

Drivers buy tires and vehicle services at Monro's retail stores, and some locations also serve commercial customers. Customers can use Monro's websites to shop for tires and make service appointments.

Do Revenues Turn Into Profits?

Yes. It kept less than a cent of every revenue dollar as net income in FY2026 and turned 3 cents into free cash flow.

Operating income, FY2026

2% of revenue

▲ +59% vs FY2025 ($12.6M, 1%)

Net income, FY2026

0% of revenue

▲ Now profitable vs FY2025 (−$5.2M, 0%)

Free cash flow, FY2026

3% of revenue

▼ −63% vs FY2025 ($105.6M, 9%)

How Are They Changing?

Since the FY2026 annual report

Latest quarter: Q1 FY2027, the three months to Jun 27, 2026

Revenue: ▼ −5%; vs $301M in Q1 FY2026
Net income: ▼ −73% (Loss); vs −$8.1M in Q1 FY2026

Tires share of revenue vs 46.0% in Q1 FY2026

Shrinking. Revenue fell 15% in 4 years, from $1.4B in FY2022 to $1.2B in FY2026, about 4% a year.

Revenue over time

Tires Maintenance Service Brakes Steering Batteries Exhaust Franchise Royalties

$2B$1B$0

FY2022 FY2023 FY2024 FY2025 FY2026