Business Description
Advance Auto Parts, Inc. is an automotive aftermarket parts provider headquartered in Raleigh, North Carolina. The company operates a network of over 4,200 retail stores across North America, serving both professional installers and do-it-yourself (DIY) customers. It offers a wide selection of brand-name, original equipment manufacturer (OEM), and private-label automotive replacement parts, accessories, batteries, and maintenance items.
Financial Statements
In thousands, USD
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Sales | 8,601,000 | 9,094,327 | 9,209,075 | 9,148,874 |
| Cost of Sales | 4,868,000 | 5,685,807 | 5,348,966 | 4,916,004 |
| Gross Profit | 3,733,000 | 3,408,520 | 3,860,109 | 4,232,870 |
| Selling, General & Administrative Expenses (excl. Restructuring) | 3,572,000 | 3,812,924 | 3,805,235 | 3,708,252 |
| Restructuring & Related Expenses | 204,000 | 308,902 | 15,987 | 0 |
| Operating Income (Loss) | (43,000) | (713,306) | 38,887 | 524,618 |
| Interest Expense | (139,000) | (81,033) | (87,989) | (50,841) |
| Other Income (Expense), Net | 91,000 | 26,241 | 1,924 | (13,584) |
| Total Other, Net | (48,000) | (54,792) | (86,065) | (64,425) |
| Income (Loss) Before Income Taxes | (91,000) | (768,098) | (47,178) | 460,193 |
| Provision for (Benefit from) Income Taxes | (159,000) | (181,143) | (17,154) | 99,657 |
| Net Income (Loss) from Continuing Operations | 68,000 | (586,955) | (30,024) | 360,536 |
| Net Income (Loss) from Discontinued Operations | (24,000) | 251,167 | 59,759 | 103,866 |
| Net Income (Loss) | 44,000 | (335,788) | 29,735 | 464,402 |
| Basic EPS | 0.73 | (5.63) | 0.50 | 7.70 |
| Diluted EPS | 0.73 | (5.61) | 0.50 | 7.65 |
| Basic Weighted-Average Shares Outstanding | 59,900 | 59,647 | 59,432 | 60,351 |
| Diluted Weighted-Average Shares Outstanding | 60,600 | 59,902 | 59,608 | 60,717 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 3,123,000 | 1,869,000 | 488,049 | 270,805 |
| Total Cash and Cash Equivalents | 3,123,000 | 1,869,000 | 488,049 | 270,805 |
| Accounts Receivable | 380,000 | 544,000 | 609,528 | 684,048 |
| Total Trade Receivables | 380,000 | 544,000 | 609,528 | 684,048 |
| Inventories | 3,646,000 | 3,612,000 | 3,893,569 | 4,896,269 |
| Other Current Assets | 141,000 | 118,000 | 1,385,875 | 163,695 |
| Total Current Assets | 7,290,000 | 6,143,000 | 6,377,021 | 6,014,817 |
| Net Property, Plant & Equipment | 3,426,000 | 3,577,000 | 3,903,058 | 4,297,829 |
| Net Intangible Assets | 400,000 | 406,000 | 419,161 | 620,901 |
| Goodwill | 600,000 | 598,000 | 601,159 | 990,471 |
| Other Long-Term Assets | 110,000 | 74,000 | 975,927 | 62,429 |
| Total Assets | 11,826,000 | 10,798,000 | 12,276,326 | 11,986,447 |
| Accounts Payable | 2,977,000 | 3,408,000 | 3,526,079 | 4,178,907 |
| Accrued Expenses | 756,000 | 784,000 | 616,067 | 629,464 |
| Current Portion of Long-Term Debt | — | — | — | 185,000 |
| Other Current Liabilities | 443,000 | 473,000 | 1,165,259 | 427,480 |
| Total Current Liabilities | 4,176,000 | 4,665,000 | 5,307,405 | 5,420,851 |
| Long-Term Debt | 3,412,000 | 1,789,000 | 1,786,361 | 1,188,283 |
| Leases | 1,812,000 | 1,897,000 | 2,039,908 | 2,278,318 |
| Other Long-Term Liabilities | 228,000 | 277,000 | 622,924 | 499,803 |
| Total Long-Term Liabilities | 5,452,000 | 3,963,000 | 4,449,193 | 3,966,404 |
| Total Liabilities | 9,628,000 | 8,628,000 | 9,756,598 | 9,387,255 |
| Common Stock | — | — | 8 | 8 |
| Treasury Stock | (2,944,000) | (2,940,000) | (2,933,286) | (2,918,768) |
| Additional Paid-in Capital | 1,033,000 | 994,000 | 946,099 | 897,560 |
| Accumulated Other Comprehensive Income | (37,000) | (47,000) | (52,232) | (44,695) |
| Retained Earnings | 4,146,000 | 4,163,000 | 4,559,139 | 4,665,087 |
| Total Common Shareholders' Equity | 2,198,000 | 2,170,000 | 2,519,728 | 2,599,192 |
| Total Shareholders' Equity | 2,198,000 | 2,170,000 | 2,519,728 | 2,599,192 |
| Total Liabilities and Shareholders' Equity | 11,826,000 | 10,798,000 | 12,276,326 | 11,986,447 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | 88,000 | (672,000) | 60,000 | 928,804 |
| Depreciation & Amortization | 272,000 | 292,000 | 269,000 | 248,327 |
| Share-Based Compensation Expense | 36,000 | 42,000 | 41,000 | 46,482 |
| Other Adjustments | 60,000 | 15,000 | (20,000) | 35,151 |
| Changes in Trade Receivables | 138,000 | 7,000 | (128,000) | 27,420 |
| Changes in Inventories | (21,000) | 270,000 | (64,000) | (70,969) |
| Changes in Accounts Payable | (469,000) | (110,000) | 58,000 | 119,334 |
| Changes in Accrued Expenses | (60,000) | 127,000 | 95,000 | (158,632) |
| Changes in Other Operating Activities | (70,000) | 85,000 | (79,000) | 14,989 |
| Cash from Operating Activities | (46,000) | 85,000 | 287,000 | 736,571 |
| Capital Expenditure | (252,000) | (181,000) | (226,000) | (398,757) |
| Proceeds from Sale of Property, Plant & Equipment | 21,000 | 14,000 | 7,000 | 1,137 |
| Purchases of Intangible Assets | — | — | — | (1,900) |
| Other Investing Activities | (8,000) | — | — | — |
| Cash from Investing Activities | (239,000) | 1,355,000 | (235,000) | (424,448) |
| Issuance of Short-Term Debt | — | — | 4,805,000 | 2,035,000 |
| Repayments of Short-Term Debt | — | — | (4,990,000) | (1,850,000) |
| Net Issuance / (Repayments) of Short-Term Debt | — | — | (185,000) | 185,000 |
| Issuance of Long-Term Debt | 1,950,000 | — | 599,000 | 348,618 |
| Repayments of Long-Term Debt | (300,000) | — | — | (201,081) |
| Net Issuance / (Repayments) of Long-Term Debt | 1,650,000 | — | 599,000 | 147,537 |
| Repurchases of Common Shares | — | — | — | (618,480) |
| Net Issuance / (Repurchases) of Common Shares | — | — | — | (618,480) |
| Common Share Dividends Paid | (60,000) | (60,000) | (209,000) | (336,230) |
| Other Financing Activities | (52,000) | (15,000) | (16,000) | 1,469 |
| Cash from Financing Activities | 1,538,000 | (75,000) | 189,000 | (620,704) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 1,000 | 1,000 | (9,000) | (8,664) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | 1,254,000 | 1,366,000 | 232,000 | (317,245) |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $2.33B |
| P/E | 53.27x |
| P/S | 0.27x |
| EV/EBITDA | 19.36x |
| Return on Equity | 3.1% |
| Return on Invested Capital | 0.7% |
| Current Ratio | 1.75x |
| Dividend Yield | 2.6% |
| Free Cash Flow Margin | -3.5% |
Margins
Gross margin
43.4%
Operating margin
-0.5%
Net margin
0.8%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q1 2026 | $2.61B | +1.2% | 2.6% | $69M |
| Q4 2025 | $1.97B | -1.2% | 2.2% | $44M |
| Q3 2025 | $2.04B | -5.2% | 1.1% | $22M |
| Q2 2025 | $2.01B | -7.7% | 1.1% | $22M |
| Q1 2025 | $2.58B | — | -5.1% | $-131M |
| Q4 2024 | $2.00B | — | -41.1% | $-820M |
| Q3 2024 | $2.15B | — | -42.3% | $-908M |
| Q2 2024 | $2.18B | — | 2.5% | $54M |
More on Advance Auto Parts, Inc.
Figures compiled from public company filings.
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