Advance Auto Parts (AAP) FY2014 results: revenue $9.8 billion, up 51.6% on the year
Advance Auto Parts Inc. (AAP) reported revenue of $9.8 billion for fiscal 2014, the year ended 3 January 2015, up 51.6% on the year before. Net income was $494 million, up 26.1%, and diluted earnings per share $6.71. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2015.
Revenue
$9.8 billion
+51.6% on the year
FY2008FY2014
Operating margin
8.7%
10.2% a year earlier
FY2008FY2014
Net income
$494 million
+26.1% on the year
FY2008FY2014
Diluted EPS
$6.71
+26.1% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
9,844
6,494
6,205
+51.6%
Cost of revenue
5,390
3,242
3,107
+66.3%
Gross profit
4,454
3,252
3,098
+36.9%
Gross margin
45.2%
50.1%
49.9%
Selling, general and administrative
3,602
2,592
2,441
+39.0%
Operating income
852
660
657
+29.0%
Operating margin
8.7%
10.2%
10.6%
Interest expense
73.4
36.6
33.8
+100.5%
Pre-tax income
781
626
624
+24.7%
Income tax
288
235
236
+22.6%
Effective tax rate
36.8%
37.5%
37.9%
Net income
494
392
388
+26.1%
Net margin
5.0%
6.0%
6.2%
Diluted EPS
$6.71
$5.32
$5.22
+26.1%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
709
545
685
+30.0%
Capital expenditure
228
196
271
+16.7%
Free cash flow
481
349
414
+37.5%
Free cash flow margin
4.9%
5.4%
6.7%
Cash from investing
-2,288
-362
-273
Cash from financing
576
331
128
+73.9%
Depreciation and amortisation
285
208
190
+37.0%
Share-based compensation
21.7
13.2
15.2
+64.5%
Buybacks
5.2
80.8
27.1
-93.6%
Dividends paid
17.6
17.6
17.6
+0.0%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
73m
73m
74m
0.0%
Shares outstanding at period end
73m
73m
73m
+0.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,003
1,516
1,211
+32.1%
Debt
1,637
1,054
605
+55.4%
Other liabilities
4,323
2,995
2,798
+44.3%
Total liabilities and equity
7,962
5,565
4,614
+43.1%
Fixed assets
1,432
1,284
1,292
+11.5%
Goodwill
995
200
76.4
+398.1%
Intangible assets
748
49.9
28.8
+1,400.1%
Cash and equivalents
105
1,112
598
-90.6%
Receivables
580
278
230
+108.9%
Inventory
3,937
2,557
2,309
+54.0%
Other assets
165
84.5
80.2
+95.7%
Total assets
7,962
5,565
4,614
+43.1%
10-K for the year ended 3 January 2015, filed 3 March 2015: the filing.