Advance Auto Parts (AAP) FY2023 results: revenue $9.2 billion, up 0.7% on the year
Advance Auto Parts Inc. (AAP) reported revenue of $9.2 billion for fiscal 2023, the year ended 30 December 2023, up 0.7% on the year before. Net income was $30 million, down 93.5%, and diluted earnings per share $0.50. The figures are the company's own, from the 10-K it filed with the SEC on 12 March 2024.
Revenue
$9.2 billion
+0.7% on the year
FY2016FY2023
Operating margin
0.4%
5.7% a year earlier
FY2016FY2023
Net income
$30 million
-93.5% on the year
FY2016FY2023
Diluted EPS
$0.50
-93.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
287
737
1,107
-61.0%
Capital expenditure
226
399
290
-43.3%
Free cash flow
61.4
338
817
-81.8%
Free cash flow margin
0.7%
3.7%
7.4%
Cash from investing
-235
-424
-287
Cash from financing
189
-621
-1,064
Depreciation and amortisation
269
248
260
+8.3%
Share-based compensation
41.0
46.5
63.1
-11.8%
Buybacks
14.5
618
906
-97.7%
Dividends paid
209
336
161
-37.8%
Dividend per share
$2.25
$6.00
$3.25
-62.5%
Diluted shares, weighted
60m
61m
65m
-1.8%
Shares outstanding at period end
60m
59m
62m
+0.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,520
2,599
3,082
-3.1%
Debt
1,786
1,373
1,034
+30.1%
Operating lease liabilities
2,040
2,278
2,338
-10.5%
Other liabilities
5,930
5,736
5,740
+3.4%
Total liabilities and equity
12,276
11,986
12,194
+2.4%
Fixed assets
1,556
1,690
1,528
-7.9%
Goodwill
601
990
994
-39.3%
Intangible assets
419
621
651
-32.5%
Cash and equivalents
488
271
588
+80.2%
Receivables
610
684
754
-10.9%
Inventory
3,894
4,896
4,683
-20.5%
Other assets
4,709
2,834
2,996
+66.2%
Total assets
12,276
11,986
12,194
+2.4%
10-K for the year ended 30 December 2023, filed 12 March 2024: the filing.