Genuine Parts (GPC) FY2019 results: revenue $17.5 billion, up 4.1% on the year
Genuine Parts Co. (GPC) reported revenue of $17.5 billion for fiscal 2019, the year ended 31 December 2019, up 4.1% on the year before. Net income was $621 million, down 23.4%, and diluted earnings per share $4.24. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$17.5 billion
+4.1% on the year
FY2012FY2019
Operating margin
5.2%
8.5% a year earlier
FY2012FY2019
Net income
$621 million
-23.4% on the year
FY2012FY2019
Diluted EPS
$4.24
-22.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
17,522
16,832
14,396
+4.1%
Cost of revenue
11,663
11,312
9,965
+3.1%
Gross profit
5,860
5,520
4,431
+6.2%
Gross margin
33.4%
32.8%
30.8%
Selling, general and administrative
4,578
4,241
3,358
+7.9%
Operating income
911
1,431
1,260
-36.3%
Operating margin
5.2%
8.5%
8.8%
Interest expense
91.4
102
41.3
-10.3%
Pre-tax income
859
995
931
-13.6%
Income tax
213
245
367
-13.2%
Effective tax rate
24.8%
24.6%
39.4%
Net income
621
810
617
-23.4%
Net margin
3.5%
4.8%
4.3%
Diluted EPS
$4.24
$5.50
$4.18
-22.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
892
1,145
815
-22.1%
Capital expenditure
278
227
149
+22.7%
Free cash flow
614
919
666
-33.1%
Free cash flow margin
3.5%
5.5%
4.6%
Cash from investing
-563
-496
-1,630
Cash from financing
-386
-609
872
Depreciation and amortisation
257
228
153
+13.0%
Share-based compensation
28.7
17.7
14.0
+61.8%
Buybacks
74.2
92.0
174
-19.3%
Dividends paid
439
416
395
+5.5%
Dividend per share
$3.05
$2.88
$2.70
+5.9%
Diluted shares, weighted
146m
147m
148m
-0.6%
Shares outstanding at period end
145m
146m
147m
-0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,675
3,450
3,412
+6.5%
Non-controlling interest
20.8
21.5
52.0
-3.5%
Debt
3,426
3,143
3,245
+9.0%
Operating lease liabilities
757
0.0
n/a
Other liabilities
6,768
6,068
5,703
+11.5%
Total liabilities and equity
14,646
12,683
12,412
+15.5%
Fixed assets
1,174
995
904
+18.0%
Goodwill
2,294
2,047
2,072
+12.1%
Intangible assets
1,492
1,328
1,311
+12.4%
Cash and equivalents
277
334
315
-17.0%
Inventory
3,444
3,212
3,771
+7.2%
Other assets
5,965
4,768
4,040
+25.1%
Total assets
14,646
12,683
12,412
+15.5%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.