Genuine Parts (GPC) FY2014 results: revenue $15.3 billion, up 9.0% on the year
Genuine Parts Co. (GPC) reported revenue of $15.3 billion for fiscal 2014, the year ended 31 December 2014, up 9.0% on the year before. Net income was $711 million, up 3.8%, and diluted earnings per share $4.61. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$15.3 billion
+9.0% on the year
FY2007FY2014
Operating margin
8.3%
8.0% a year earlier
FY2007FY2014
Net income
$711 million
+3.8% on the year
FY2007FY2014
Diluted EPS
$4.61
+4.8% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
15,342
14,078
13,014
+9.0%
Cost of revenue
10,748
9,858
9,236
+9.0%
Gross profit
4,594
4,220
3,778
+8.9%
Gross margin
29.9%
30.0%
29.0%
Selling, general and administrative
3,314
3,028
2,657
+9.4%
Operating income
1,269
1,132
1,078
+12.1%
Operating margin
8.3%
8.0%
8.3%
Interest expense
25.1
27.0
20.5
-7.0%
Pre-tax income
1,118
1,044
1,019
+7.0%
Income tax
406
359
371
+13.1%
Effective tax rate
36.4%
34.4%
36.4%
Net income
711
685
648
+3.8%
Net margin
4.6%
4.9%
5.0%
Diluted EPS
$4.61
$4.40
$4.14
+4.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
790
1,057
906
-25.2%
Capital expenditure
108
124
102
-13.2%
Free cash flow
682
933
804
-26.8%
Free cash flow margin
4.4%
6.6%
6.2%
Cash from investing
n/a
-826
-652
Cash from financing
n/a
-425
-379
Depreciation and amortisation
148
134
98.4
+10.7%
Share-based compensation
16.2
12.6
10.7
+28.4%
Buybacks
95.9
121
81.8
-20.5%
Dividends paid
347
326
301
+6.5%
Dividend per share
$2.30
$2.15
$1.98
+7.0%
Diluted shares, weighted
154m
156m
156m
-0.9%
Shares outstanding at period end
153m
154m
155m
-0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,301
3,349
2,998
-1.4%
Non-controlling interest
11.1
9.7
10.3
+14.7%
Debt
765
765
500
+0.1%
Other liabilities
4,168
3,557
3,299
+17.2%
Total liabilities and equity
8,246
7,680
6,807
+7.4%
Fixed assets
670
670
566
+0.0%
Goodwill
839
790
298
+6.2%
Intangible assets
548
499
200
+9.6%
Cash and equivalents
138
197
403
-30.0%
Inventory
3,044
2,946
2,603
+3.3%
Other assets
3,008
2,578
2,737
+16.7%
Total assets
8,246
7,680
6,807
+7.4%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.