Genuine Parts (GPC) FY2011 results: revenue $12.5 billion, up 11.2% on the year
Genuine Parts Co. (GPC) reported revenue of $12.5 billion for fiscal 2011, the year ended 31 December 2011, up 11.2% on the year before. Net income was $565 million, up 18.8%, and diluted earnings per share $3.58. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2012.
Revenue
$12.5 billion
+11.2% on the year
FY2006FY2011
Operating margin
7.9%
7.5% a year earlier
FY2006FY2011
Net income
$565 million
+18.8% on the year
FY2006FY2011
Diluted EPS
$3.58
+19.3% on the year
FY2006FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
12,459
11,208
10,058
+11.2%
Cost of revenue
8,853
7,955
7,048
+11.3%
Gross profit
3,606
3,253
3,010
+10.9%
Gross margin
28.9%
29.0%
29.9%
Selling, general and administrative
2,594
2,367
2,220
+9.6%
Operating income
980
839
702
+16.8%
Operating margin
7.9%
7.5%
7.0%
Interest expense
27.0
28.1
27.9
-3.7%
Pre-tax income
891
762
644
+16.9%
Income tax
326
286
245
+13.8%
Effective tax rate
36.6%
37.6%
38.0%
Net income
565
476
400
+18.8%
Net margin
4.5%
4.2%
4.0%
Diluted EPS
$3.58
$3.00
$2.50
+19.3%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
625
679
845
-7.9%
Capital expenditure
103
85.4
69.4
+21.2%
Free cash flow
521
593
776
-12.1%
Free cash flow margin
4.2%
5.3%
7.7%
Cash from investing
-231
-172
-264
Cash from financing
-394
-321
-330
Depreciation and amortisation
88.9
89.3
90.4
-0.4%
Share-based compensation
7.5
7.0
8.6
+7.6%
Buybacks
122
75.0
26.0
+62.8%
Dividends paid
276
258
254
+7.2%
Dividend per share
$1.80
$1.64
$1.60
+9.8%
Diluted shares, weighted
158m
158m
160m
-0.5%
Shares outstanding at period end
156m
158m
159m
-1.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,744
2,794
2,621
-1.8%
Non-controlling interest
9.6
8.9
8.0
+7.7%
Debt
500
500
500
0.0%
Other liabilities
2,949
2,486
2,198
+18.7%
Total liabilities and equity
6,203
5,788
5,328
+7.2%
Fixed assets
500
484
485
+3.3%
Goodwill
178
n/a
n/a
Intangible assets
102
59.3
38.6
+72.4%
Cash and equivalents
525
530
337
-0.9%
Inventory
2,440
2,225
2,214
+9.7%
Other assets
2,458
2,490
2,253
-1.3%
Total assets
6,203
5,788
5,328
+7.2%
10-K for the year ended 31 December 2011, filed 27 February 2012: the filing.