Genuine Parts (GPC) FY2013 results: revenue $14.1 billion, up 8.2% on the year
Genuine Parts Co. (GPC) reported revenue of $14.1 billion for fiscal 2013, the year ended 31 December 2013, up 8.2% on the year before. Net income was $685 million, up 5.7%, and diluted earnings per share $4.40. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$14.1 billion
+8.2% on the year
FY2006FY2013
Operating margin
8.0%
8.3% a year earlier
FY2006FY2013
Net income
$685 million
+5.7% on the year
FY2006FY2013
Diluted EPS
$4.40
+6.3% on the year
FY2006FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
14,078
13,014
12,459
+8.2%
Cost of revenue
9,858
9,236
8,853
+6.7%
Gross profit
4,220
3,778
3,606
+11.7%
Gross margin
30.0%
29.0%
28.9%
Selling, general and administrative
3,028
2,657
2,594
+14.0%
Operating income
1,132
1,078
980
+5.0%
Operating margin
8.0%
8.3%
7.9%
Interest expense
27.0
20.5
27.0
+31.7%
Pre-tax income
1,044
1,019
891
+2.5%
Income tax
359
371
326
-3.1%
Effective tax rate
34.4%
36.4%
36.6%
Net income
685
648
565
+5.7%
Net margin
4.9%
5.0%
4.5%
Diluted EPS
$4.40
$4.14
$3.58
+6.3%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,057
906
625
+16.6%
Capital expenditure
124
102
103
+21.6%
Free cash flow
933
804
521
+15.9%
Free cash flow margin
6.6%
6.2%
4.2%
Cash from investing
-826
-652
-231
Cash from financing
-425
-379
-394
Depreciation and amortisation
134
98.4
88.9
+36.2%
Share-based compensation
12.6
10.7
7.5
+17.7%
Buybacks
121
81.8
122
+47.5%
Dividends paid
326
301
276
+8.4%
Dividend per share
$2.15
$1.98
$1.80
+8.6%
Diluted shares, weighted
156m
156m
158m
-0.5%
Shares outstanding at period end
154m
155m
156m
-0.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,349
2,998
2,744
+11.7%
Non-controlling interest
9.7
10.3
9.6
-5.8%
Debt
765
500
500
+52.9%
Other liabilities
3,557
3,299
2,949
+7.8%
Total liabilities and equity
7,680
6,807
6,203
+12.8%
Fixed assets
670
566
500
+18.3%
Goodwill
790
298
178
+165.1%
Intangible assets
499
200
102
+149.9%
Cash and equivalents
197
403
525
-51.2%
Inventory
2,946
2,603
2,440
+13.2%
Other assets
2,578
2,737
2,458
-5.8%
Total assets
7,680
6,807
6,203
+12.8%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.