Advance Auto Parts (AAP) FY2013 results: revenue $6.5 billion, up 4.7% on the year
Advance Auto Parts Inc. (AAP) reported revenue of $6.5 billion for fiscal 2013, the year ended 28 December 2013, up 4.7% on the year before. Net income was $392 million, up 1.1%, and diluted earnings per share $5.32. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$6.5 billion
+4.7% on the year
FY2008FY2013
Operating margin
10.2%
10.6% a year earlier
FY2008FY2013
Net income
$392 million
+1.1% on the year
FY2008FY2013
Diluted EPS
$5.32
+1.9% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
6,494
6,205
6,170
+4.7%
Cost of revenue
3,242
3,107
3,101
+4.3%
Gross profit
3,252
3,098
3,069
+5.0%
Gross margin
50.1%
49.9%
49.7%
Selling, general and administrative
2,592
2,441
2,405
+6.2%
Operating income
660
657
665
+0.5%
Operating margin
10.2%
10.6%
10.8%
Interest expense
36.6
33.8
30.9
+8.2%
Pre-tax income
626
624
633
+0.4%
Income tax
235
236
239
-0.7%
Effective tax rate
37.5%
37.9%
37.7%
Net income
392
388
395
+1.1%
Net margin
6.0%
6.2%
6.4%
Diluted EPS
$5.32
$5.22
$5.11
+1.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
545
685
829
-20.4%
Capital expenditure
196
271
268
-27.8%
Free cash flow
349
414
561
-15.6%
Free cash flow margin
5.4%
6.7%
9.1%
Cash from investing
-362
-273
-290
Cash from financing
331
128
-540
+159.0%
Depreciation and amortisation
208
190
176
+9.6%
Share-based compensation
13.2
15.2
19.6
-13.4%
Buybacks
80.8
27.1
631
+198.2%
Dividends paid
17.6
17.6
18.6
-0.1%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
73m
74m
77m
-0.9%
Shares outstanding at period end
73m
73m
73m
-0.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,516
1,211
848
+25.2%
Debt
1,054
605
416
+74.1%
Other liabilities
2,995
2,798
2,392
+7.0%
Total liabilities and equity
5,565
4,614
3,656
+20.6%
Fixed assets
1,284
1,292
1,223
-0.6%
Goodwill
200
76.4
76.4
+161.6%
Intangible assets
49.9
28.8
31.4
+72.9%
Cash and equivalents
1,112
598
57.9
+86.0%
Receivables
278
230
140
+20.8%
Inventory
2,557
2,309
2,043
+10.7%
Other assets
84.5
80.2
83.8
+5.3%
Total assets
5,565
4,614
3,656
+20.6%
10-K for the year ended 28 December 2013, filed 25 February 2014: the filing.