Genuine Parts (GPC) FY2017 results: revenue $14.4 billion, down 6.1% on the year
Genuine Parts Co. (GPC) reported revenue of $14.4 billion for fiscal 2017, the year ended 31 December 2017, down 6.1% on the year before. Net income was $617 million, down 10.3%, and diluted earnings per share $4.18. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$14.4 billion
-6.1% on the year
FY2010FY2017
Operating margin
8.8%
8.0% a year earlier
FY2010FY2017
Net income
$617 million
-10.3% on the year
FY2010FY2017
Diluted EPS
$4.18
-8.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
14,396
15,340
15,280
-6.1%
Cost of revenue
9,965
10,740
10,724
-7.2%
Gross profit
4,431
4,600
4,556
-3.7%
Gross margin
30.8%
30.0%
29.8%
Selling, general and administrative
3,358
3,392
3,277
-1.0%
Operating income
1,260
1,229
1,279
+2.5%
Operating margin
8.8%
8.0%
8.4%
Interest expense
41.3
21.1
21.7
+96.0%
Pre-tax income
931
1,074
1,124
-13.4%
Income tax
367
387
418
-5.2%
Effective tax rate
39.4%
36.0%
37.2%
Net income
617
687
706
-10.3%
Net margin
4.3%
4.5%
4.6%
Diluted EPS
$4.18
$4.59
$4.63
-8.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
815
946
1,159
-13.9%
Capital expenditure
149
161
110
-7.4%
Free cash flow
666
785
1,050
-15.2%
Free cash flow margin
4.6%
5.1%
6.9%
Cash from investing
-1,630
-594
n/a
Cash from financing
872
-322
n/a
Depreciation and amortisation
153
147
142
+3.6%
Share-based compensation
14.0
19.7
17.7
-28.8%
Buybacks
174
181
292
-4.4%
Dividends paid
395
387
368
+2.2%
Dividend per share
$2.70
$2.63
$2.46
+2.7%
Diluted shares, weighted
148m
150m
152m
-1.4%
Shares outstanding at period end
147m
148m
150m
-1.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,412
3,194
3,147
+6.8%
Non-controlling interest
52.0
13.6
12.7
+281.6%
Debt
3,245
875
625
+270.9%
Other liabilities
5,703
4,777
4,361
+19.4%
Total liabilities and equity
12,412
8,859
8,145
+40.1%
Fixed assets
904
728
648
+24.1%
Goodwill
2,072
956
841
+116.7%
Intangible assets
1,311
619
521
+112.0%
Cash and equivalents
315
243
212
+29.7%
Inventory
3,771
3,210
3,000
+17.5%
Other assets
4,040
3,103
2,923
+30.2%
Total assets
12,412
8,859
8,145
+40.1%
10-K for the year ended 31 December 2017, filed 25 February 2019: the filing.