Advance Auto Parts (AAP) FY2025 results: revenue $8.6 billion, down 5.4% on the year
Advance Auto Parts Inc. (AAP) reported revenue of $8.6 billion for fiscal 2025, the year ended 3 January 2026, down 5.4% on the year before. Net income was $44 million, and diluted earnings per share $0.73. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2026.
Revenue
$8.6 billion
-5.4% on the year
FY2018FY2025
Operating margin
-0.5%
-7.8% a year earlier
FY2018FY2025
Net income
$44 million
FY2018FY2025
Diluted EPS
$0.73
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 9 new.
Full year comparable sales turned positive: Full year comparable sales returned to positive growth after three years of negative results, and adjusted operating margin expanded by over 200 basis points.
Fourth quarter operating income turned positive: Fourth quarter operating income was $44 million, or 2.2% of net sales, against an operating loss of $820 million. Adjusted operating income was $73 million, or 3.7%.
Full year adjusted EPS reached $2.26: Full year adjusted operating income was $216 million, or 2.5% of net sales. Adjusted diluted EPS was $2.26, against a loss of $(0.29) a year earlier.
Store count fell through closures: Thirty-nine stores opened and 522 closed during the fifty-three weeks, reducing the total from 4,788 to 4,305 stores by January 3, 2026.
Adjusted gross margin rose to 44.2%: Adjusted gross margin was 44.2% in the fourth quarter, against 39.0% a year earlier. GAAP gross margin was 44.0%, against 17.4%.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
-46.0
85.0
287
Capital expenditure
252
181
226
+39.4%
Free cash flow
-298
-95.8
61.4
Free cash flow margin
-3.5%
-1.1%
0.7%
Cash from investing
-239
1,355
-235
Cash from financing
1,538
-75.0
189
Depreciation and amortisation
272
292
269
-6.8%
Share-based compensation
36.0
42.0
41.0
-14.3%
Buybacks
n/a
6.5
14.5
Dividends paid
60.0
60.0
209
0.0%
Dividend per share
$1.00
$1.00
$2.25
0.0%
Diluted shares, weighted
61m
60m
60m
+1.2%
Shares outstanding at period end
60m
60m
60m
+0.4%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
2,198
2,170
2,520
+1.3%
Debt
3,412
1,789
1,786
+90.7%
Operating lease liabilities
1,812
1,897
2,040
-4.5%
Other liabilities
4,404
4,942
5,930
-10.9%
Total liabilities and equity
11,826
10,798
12,276
+9.5%
Fixed assets
1,269
1,334
1,556
-4.9%
Goodwill
600
598
601
+0.3%
Intangible assets
400
406
419
-1.4%
Cash and equivalents
3,123
1,869
488
+67.1%
Receivables
380
544
610
-30.2%
Inventory
3,646
3,612
3,894
+0.9%
Other assets
2,408
2,434
4,709
-1.1%
Total assets
11,826
10,798
12,276
+9.5%
10-K for the year ended 3 January 2026, filed 13 February 2026: the filing.