Advance Auto Parts (AAP) FY2019 results: revenue $9.7 billion, up 1.3% on the year
Advance Auto Parts Inc. (AAP) reported revenue of $9.7 billion for fiscal 2019, the year ended 28 December 2019, up 1.3% on the year before. Net income was $487 million, up 14.9%, and diluted earnings per share $6.84. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$9.7 billion
+1.3% on the year
FY2012FY2019
Operating margin
7.0%
6.3% a year earlier
FY2012FY2019
Net income
$487 million
+14.9% on the year
FY2012FY2019
Diluted EPS
$6.84
+19.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
9,709
9,581
9,374
+1.3%
Cost of revenue
5,454
5,361
5,289
+1.7%
Gross profit
4,255
4,219
4,085
+0.8%
Gross margin
43.8%
44.0%
43.6%
Selling, general and administrative
3,578
3,615
3,515
-1.0%
Operating income
677
604
570
+12.1%
Operating margin
7.0%
6.3%
6.1%
Interest expense
39.9
56.6
58.8
-29.5%
Pre-tax income
638
555
520
+14.9%
Income tax
151
131
44.8
+14.8%
Effective tax rate
23.7%
23.7%
8.6%
Net income
487
424
476
+14.9%
Net margin
5.0%
4.4%
5.1%
Diluted EPS
$6.84
$5.73
$6.42
+19.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
867
811
601
+6.9%
Capital expenditure
270
194
190
+39.4%
Free cash flow
597
617
411
-3.3%
Free cash flow margin
6.1%
6.4%
4.4%
Cash from investing
-463
-192
-179
Cash from financing
-882
-264
-14.9
Depreciation and amortisation
238
238
249
+0.1%
Share-based compensation
37.4
27.8
35.3
+34.9%
Buybacks
498
281
6.5
+77.2%
Dividends paid
17.2
17.8
17.9
-3.6%
Dividend per share
$0.24
$0.24
$0.24
0.0%
Diluted shares, weighted
71m
74m
74m
-3.8%
Shares outstanding at period end
69m
72m
74m
-4.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,549
3,551
3,415
-0.0%
Debt
747
1,046
1,045
-28.5%
Operating lease liabilities
2,017
0.0
n/a
Other liabilities
4,935
4,444
4,022
+11.1%
Total liabilities and equity
11,249
9,041
8,482
+24.4%
Fixed assets
1,433
1,369
1,394
+4.7%
Goodwill
992
990
994
+0.2%
Intangible assets
710
551
598
+28.9%
Cash and equivalents
419
897
547
-53.3%
Receivables
689
625
606
+10.3%
Inventory
4,432
4,363
4,168
+1.6%
Other assets
2,573
247
174
+942.6%
Total assets
11,249
9,041
8,482
+24.4%
10-K for the year ended 28 December 2019, filed 18 February 2020: the filing.