Advance Auto Parts (AAP) FY2020 results: revenue $10.1 billion, up 4.1% on the year
Advance Auto Parts Inc. (AAP) reported revenue of $10.1 billion for fiscal 2020, the year ended 2 January 2021, up 4.1% on the year before. Net income was $493 million, up 1.3%, and diluted earnings per share $7.14. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2021.
Revenue
$10.1 billion
+4.1% on the year
FY2013FY2020
Operating margin
7.4%
7.0% a year earlier
FY2013FY2020
Net income
$493 million
+1.3% on the year
FY2013FY2020
Diluted EPS
$7.14
+4.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
10,106
9,709
9,581
+4.1%
Cost of revenue
5,625
5,454
5,361
+3.1%
Gross profit
4,482
4,255
4,219
+5.3%
Gross margin
44.3%
43.8%
44.0%
Selling, general and administrative
3,732
3,578
3,615
+4.3%
Operating income
750
677
604
+10.7%
Operating margin
7.4%
7.0%
6.3%
Interest expense
46.9
39.9
56.6
+17.5%
Pre-tax income
651
638
555
+2.1%
Income tax
158
151
131
+4.7%
Effective tax rate
24.3%
23.7%
23.7%
Net income
493
487
424
+1.3%
Net margin
4.9%
5.0%
4.4%
Diluted EPS
$7.14
$6.84
$5.73
+4.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
970
867
811
+11.9%
Capital expenditure
268
270
194
-0.9%
Free cash flow
702
597
617
+17.7%
Free cash flow margin
6.9%
6.1%
6.4%
Cash from investing
-267
-463
-192
Cash from financing
-286
-882
-264
Depreciation and amortisation
250
238
238
+4.9%
Share-based compensation
45.3
37.4
27.8
+20.9%
Buybacks
470
498
281
-5.8%
Dividends paid
56.3
17.2
17.8
+227.9%
Dividend per share
$1.00
$0.24
$0.24
+316.7%
Diluted shares, weighted
69m
71m
74m
-3.0%
Shares outstanding at period end
66m
69m
72m
-4.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,537
3,549
3,551
-0.3%
Debt
1,033
747
1,046
+38.2%
Operating lease liabilities
2,014
2,017
0.0
-0.1%
Other liabilities
5,255
4,935
4,444
+6.5%
Total liabilities and equity
11,840
11,249
9,041
+5.3%
Fixed assets
1,463
1,433
1,369
+2.1%
Goodwill
994
992
990
+0.1%
Intangible assets
681
710
551
-4.0%
Cash and equivalents
835
419
897
+99.4%
Receivables
750
689
625
+8.8%
Inventory
4,538
4,432
4,363
+2.4%
Other assets
2,579
2,573
247
+0.2%
Total assets
11,840
11,249
9,041
+5.3%
10-K for the year ended 2 January 2021, filed 22 February 2021: the filing.