Advance Auto Parts (AAP) FY2018 results: revenue $9.6 billion, up 2.2% on the year
Advance Auto Parts Inc. (AAP) reported revenue of $9.6 billion for fiscal 2018, the year ended 29 December 2018, up 2.2% on the year before. Net income was $424 million, down 10.9%, and diluted earnings per share $5.73. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$9.6 billion
+2.2% on the year
FY2011FY2018
Operating margin
6.3%
6.1% a year earlier
FY2011FY2018
Net income
$424 million
-10.9% on the year
FY2011FY2018
Diluted EPS
$5.73
-10.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
9,581
9,374
9,568
+2.2%
Cost of revenue
5,361
5,289
5,312
+1.4%
Gross profit
4,219
4,085
4,256
+3.3%
Gross margin
44.0%
43.6%
44.5%
Selling, general and administrative
3,615
3,515
3,468
+2.9%
Operating income
604
570
788
+6.0%
Operating margin
6.3%
6.1%
8.2%
Interest expense
56.6
58.8
59.9
-3.8%
Pre-tax income
555
520
739
+6.7%
Income tax
131
44.8
279
+193.6%
Effective tax rate
23.7%
8.6%
37.8%
Net income
424
476
460
-10.9%
Net margin
4.4%
5.1%
4.8%
Diluted EPS
$5.73
$6.42
$6.20
-10.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
811
601
523
+35.0%
Capital expenditure
194
190
260
+2.1%
Free cash flow
617
411
264
+50.2%
Free cash flow margin
6.4%
4.4%
2.8%
Cash from investing
-192
-179
-262
Cash from financing
-264
-14.9
-217
Depreciation and amortisation
238
249
258
-4.4%
Share-based compensation
27.8
35.3
20.5
-21.3%
Buybacks
281
6.5
18.4
+4,229.9%
Dividends paid
17.8
17.9
17.7
-0.2%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
74m
74m
74m
-0.2%
Shares outstanding at period end
72m
74m
74m
-2.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,551
3,415
2,916
+4.0%
Debt
1,046
1,045
1,043
+0.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
4,444
4,022
4,356
+10.5%
Total liabilities and equity
9,041
8,482
8,315
+6.6%
Fixed assets
1,369
1,394
1,446
-1.8%
Goodwill
990
994
991
-0.4%
Intangible assets
551
598
641
-7.9%
Cash and equivalents
897
547
135
+63.9%
Receivables
625
606
641
+3.1%
Inventory
4,363
4,168
4,326
+4.7%
Other assets
247
174
135
+41.5%
Total assets
9,041
8,482
8,315
+6.6%
10-K for the year ended 29 December 2018, filed 19 February 2019: the filing.