Genuine Parts (GPC) FY2010 results: revenue $11.2 billion, up 11.4% on the year
Genuine Parts Co. (GPC) reported revenue of $11.2 billion for fiscal 2010, the year ended 31 December 2010, up 11.4% on the year before. Net income was $476 million, up 19.0%, and diluted earnings per share $3.00. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2011.
Revenue
$11.2 billion
+11.4% on the year
FY2006FY2010
Operating margin
7.5%
7.0% a year earlier
FY2006FY2010
Net income
$476 million
+19.0% on the year
FY2006FY2010
Diluted EPS
$3.00
+20.0% on the year
FY2006FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
11,208
10,058
11,015
+11.4%
Cost of revenue
7,955
7,048
7,743
+12.9%
Gross profit
3,253
3,010
3,272
+8.1%
Gross margin
29.0%
29.9%
29.7%
Selling, general and administrative
2,367
2,220
2,360
+6.6%
Operating income
839
702
861
+19.6%
Operating margin
7.5%
7.0%
7.8%
Interest expense
28.1
27.9
31.7
+0.6%
Pre-tax income
762
644
768
+18.3%
Income tax
286
245
293
+17.0%
Effective tax rate
37.6%
38.0%
38.1%
Net income
476
400
475
+19.0%
Net margin
4.2%
4.0%
4.3%
Diluted EPS
$3.00
$2.50
$2.92
+20.0%
$ 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
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
679
845
530
-19.7%
Capital expenditure
85.4
69.4
105
+22.9%
Free cash flow
593
776
425
-23.5%
Free cash flow margin
5.3%
7.7%
3.9%
Cash from investing
-172
-264
-214
Cash from financing
-321
-330
-473
Depreciation and amortisation
89.3
90.4
88.7
-1.2%
Share-based compensation
7.0
8.6
13.0
-18.2%
Buybacks
75.0
26.0
273
+188.3%
Dividends paid
258
254
252
+1.7%
Dividend per share
$1.64
$1.60
$1.56
+2.5%
Diluted shares, weighted
158m
160m
163m
-0.8%
Shares outstanding at period end
158m
159m
159m
-0.8%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
2,794
2,621
2,324
+6.6%
Non-controlling interest
8.9
8.0
69.0
+10.6%
Debt
500
500
500
0.0%
Other liabilities
2,486
2,198
2,216
+13.1%
Total liabilities and equity
5,788
5,328
5,110
+8.6%
Fixed assets
484
485
423
-0.2%
Intangible assets
59.3
38.6
34.4
+53.4%
Cash and equivalents
530
337
67.8
+57.4%
Inventory
2,225
2,214
2,317
+0.5%
Other assets
2,490
2,253
2,267
+10.5%
Total assets
5,788
5,328
5,110
+8.6%
10-K for the year ended 31 December 2010, filed 25 February 2011: the filing.