Advance Auto Parts (AAP) FY2017 results: revenue $9.4 billion, down 2.0% on the year
Advance Auto Parts Inc. (AAP) reported revenue of $9.4 billion for fiscal 2017, the year ended 30 December 2017, down 2.0% on the year before. Net income was $476 million, up 3.5%, and diluted earnings per share $6.42. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$9.4 billion
-2.0% on the year
FY2010FY2017
Operating margin
6.1%
8.2% a year earlier
FY2010FY2017
Net income
$476 million
+3.5% on the year
FY2010FY2017
Diluted EPS
$6.42
+3.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
9,374
9,568
9,737
-2.0%
Cost of revenue
5,289
5,312
5,314
-0.4%
Gross profit
4,085
4,256
4,423
-4.0%
Gross margin
43.6%
44.5%
45.4%
Selling, general and administrative
3,515
3,468
3,597
+1.3%
Operating income
570
788
826
-27.6%
Operating margin
6.1%
8.2%
8.5%
Interest expense
58.8
59.9
65.4
-1.9%
Pre-tax income
520
739
753
-29.6%
Income tax
44.8
279
279
-84.0%
Effective tax rate
8.6%
37.8%
37.1%
Net income
476
460
473
+3.5%
Net margin
5.1%
4.8%
4.9%
Diluted EPS
$6.42
$6.20
$6.40
+3.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
601
523
703
+14.8%
Capital expenditure
190
260
235
-26.9%
Free cash flow
411
264
468
+55.9%
Free cash flow margin
4.4%
2.8%
4.8%
Cash from investing
-179
-262
-253
Cash from financing
-14.9
-217
-459
Depreciation and amortisation
249
258
269
-3.5%
Share-based compensation
35.3
20.5
36.9
+72.4%
Buybacks
6.5
18.4
6.7
-64.7%
Dividends paid
17.9
17.7
17.6
+0.7%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
74m
74m
74m
+0.3%
Shares outstanding at period end
74m
74m
73m
+0.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,415
2,916
2,461
+17.1%
Debt
1,045
1,043
1,207
+0.1%
Other liabilities
4,022
4,356
4,467
-7.6%
Total liabilities and equity
8,482
8,315
8,135
+2.0%
Fixed assets
1,394
1,446
1,435
-3.6%
Goodwill
994
991
989
+0.3%
Intangible assets
598
641
687
-6.7%
Cash and equivalents
547
135
90.8
+304.6%
Receivables
606
641
598
-5.4%
Inventory
4,168
4,326
4,175
-3.6%
Other assets
174
135
160
+29.6%
Total assets
8,482
8,315
8,135
+2.0%
10-K for the year ended 30 December 2017, filed 19 February 2019: the filing.