Genuine Parts (GPC) FY2023 results: revenue $23.1 billion, up 4.5% on the year
Genuine Parts Co. (GPC) reported revenue of $23.1 billion for fiscal 2023, the year ended 31 December 2023, up 4.5% on the year before. Net income was $1.3 billion, up 11.3%, and diluted earnings per share $9.33. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$23.1 billion
+4.5% on the year
FY2016FY2023
Operating margin
7.6%
7.3% a year earlier
FY2016FY2023
Net income
$1.3 billion
+11.3% on the year
FY2016FY2023
Diluted EPS
$9.33
+12.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,436
1,467
1,258
-2.1%
Capital expenditure
513
340
266
+51.0%
Free cash flow
923
1,127
992
-18.1%
Free cash flow margin
4.0%
5.1%
5.3%
Cash from investing
-706
-1,684
-506
Cash from financing
-292
205
-990
Depreciation and amortisation
351
348
291
+0.8%
Share-based compensation
57.2
38.1
25.6
+50.4%
Buybacks
261
223
334
+17.4%
Dividends paid
527
496
466
+6.2%
Dividend per share
$3.80
$3.58
$3.26
+6.1%
Diluted shares, weighted
141m
142m
144m
-0.9%
Shares outstanding at period end
140m
141m
142m
-1.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
4,401
3,790
3,491
+16.1%
Non-controlling interest
15.9
14.1
12.5
+13.2%
Debt
3,906
3,329
2,409
+17.3%
Operating lease liabilities
980
836
789
+17.2%
Other liabilities
8,665
8,526
7,650
+1.6%
Total liabilities and equity
17,968
16,495
14,352
+8.9%
Fixed assets
1,617
1,326
1,234
+21.9%
Goodwill
2,735
2,588
1,915
+5.7%
Intangible assets
1,793
1,813
1,406
-1.1%
Cash and equivalents
1,102
653
715
+68.6%
Inventory
4,677
4,442
3,890
+5.3%
Other assets
6,045
5,674
5,191
+6.6%
Total assets
17,968
16,495
14,352
+8.9%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.