Advance Auto Parts (AAP) FY2016 results: revenue $9.6 billion, down 1.7% on the year
Advance Auto Parts Inc. (AAP) reported revenue of $9.6 billion for fiscal 2016, the year ended 31 December 2016, down 1.7% on the year before. Net income was $460 million, down 2.9%, and diluted earnings per share $6.20. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$9.6 billion
-1.7% on the year
FY2009FY2016
Operating margin
8.2%
8.5% a year earlier
FY2009FY2016
Net income
$460 million
-2.9% on the year
FY2009FY2016
Diluted EPS
$6.20
-3.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
9,568
9,737
9,844
-1.7%
Cost of revenue
5,312
5,314
5,390
-0.0%
Gross profit
4,256
4,423
4,454
-3.8%
Gross margin
44.5%
45.4%
45.2%
Selling, general and administrative
3,468
3,597
3,602
-3.6%
Operating income
788
826
852
-4.6%
Operating margin
8.2%
8.5%
8.7%
Interest expense
59.9
65.4
73.4
-8.4%
Pre-tax income
739
753
781
-1.9%
Income tax
279
279
288
-0.1%
Effective tax rate
37.8%
37.1%
36.8%
Net income
460
473
494
-2.9%
Net margin
4.8%
4.9%
5.0%
Diluted EPS
$6.20
$6.40
$6.71
-3.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
523
703
709
-25.5%
Capital expenditure
260
235
228
+10.6%
Free cash flow
264
468
481
-43.6%
Free cash flow margin
2.8%
4.8%
4.9%
Cash from investing
-262
-253
-2,288
Cash from financing
-217
-459
576
Depreciation and amortisation
258
269
285
-4.1%
Share-based compensation
20.5
36.9
21.7
-44.6%
Buybacks
18.4
6.7
5.2
+176.0%
Dividends paid
17.7
17.6
17.6
+0.5%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
74m
74m
73m
+0.2%
Shares outstanding at period end
74m
73m
73m
+0.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,916
2,461
2,003
+18.5%
Debt
1,043
1,207
1,637
-13.6%
Other liabilities
4,356
4,467
4,323
-2.5%
Total liabilities and equity
8,315
8,135
7,962
+2.2%
Fixed assets
1,446
1,435
1,432
+0.8%
Goodwill
991
989
995
+0.1%
Intangible assets
641
687
748
-6.7%
Cash and equivalents
135
90.8
105
+48.9%
Receivables
641
598
580
+7.3%
Inventory
4,326
4,175
3,937
+3.6%
Other assets
135
160
165
-15.9%
Total assets
8,315
8,135
7,962
+2.2%
10-K for the year ended 31 December 2016, filed 19 February 2019: the filing.