Core Insights - The article discusses the impact of stock splits and share repurchase programs on investor sentiment and company performance, particularly highlighting O'Reilly Automotive as a leading example in 2025 [2][11][15]. Stock Splits - Stock splits are cosmetic changes that adjust share price and outstanding share count without affecting a company's market cap or operating performance [2]. - Forward stock splits, which lower share prices to make stocks more accessible to retail investors, are generally viewed positively, while reverse splits are often associated with struggling companies [3][4]. - In 2024, notable forward stock splits were seen in tech companies, but 2025 has shifted focus to high-profile non-tech stock splits [5]. Company Performance - Interactive Brokers Group completed its first-ever stock split (4-for-1) and replaced Walgreens Boots Alliance in the S&P 500, reflecting its successful automation investments [6][7]. - Fastenal has embraced stock splits as part of its corporate culture, completing its ninth forward split since going public [8]. - O'Reilly Automotive announced a significant 15-for-1 stock split, which was approved by shareholders, marking its largest split to date [11]. Market Trends - The average age of vehicles on U.S. roadways has increased to 12.8 years in 2025, driving demand for auto parts from companies like O'Reilly [13]. - O'Reilly's supply chain improvements, including a hub-and-spoke distribution model, enhance its ability to meet customer needs efficiently [14]. Share Repurchase Programs - O'Reilly Automotive has executed a substantial share repurchase program since January 2011, spending $26.59 billion to retire nearly 60% of its outstanding shares [16]. - The company's buyback strategy is expected to positively impact earnings per share (EPS) as it continues to deliver steady revenue and profit growth [16][17].