Advance Auto Parts, Inc.


SKU: AAP Category:


This is our first report on Advance Auto Parts, a leading provider of automotive aftermarket parts in the U.S. Advance Auto Parts had a difficult year in 2022 though it did manage to improve its top-line results in the fourth quarter and managed an all-around beat. The management has been focused on expanding its reach, and utilizing the DieHard brand to capture more DIY market share. Its initiatives helped provide better results and anticipate increasing component availability throughout 2023. Comparable store sales were up 2.1%, while net sales rose 3.2%. Mid-single-digit comp sales growth in DIY multichannel dominated the fourth quarter. For the quarter, their professional business was just marginally positive. Besides that, the company’s new locations are generating additional revenue growth as it broadens its footprint. They launched 144 new stores and branches in 2022, the majority of them in California. Fluids and motor oil also showed strength. We initiate coverage on the stock of Advance Auto Parts, Inc. with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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