Despite a 6.8% revenue increase in 2026Q1, the company continues to face significant margin pressure, with net margins fluctuating to a negative 10.1% in 2025Q4.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 24.7B | 24.3B | 23.49B | 23.09B | 22.1B | 18.87B | 16.54B | 17.52B | 16.83B | 16.31B | 15.34B | 15.28B | 15.34B | 14.08B | 13.01B | 12.46B | 11.21B | 10.06B | 11.02B | 10.84B | 10.46B | 9.78B | 9.1B | 8.45B | 8.26B | 8.22B | 8.37B | 7.95B | 6.59B | 6.01B | 5.72B |
| Revenue Growth % | 4.79% | 3.46% | 1.71% | 4.5% | 17.09% | 14.11% | -5.62% | 4.1% | 3.21% | 6.32% | 0.39% | -0.4% | 8.98% | 8.18% | 4.45% | 11.16% | 11.43% | -8.69% | 1.59% | 3.68% | 6.9% | 7.54% | 7.67% | 2.31% | 0.47% | -1.78% | 5.27% | 20.69% | 9.7% | 4.98% | 8.72% |
| Cost of Goods Sold | 15.77B | 15.9B | 14.96B | 14.8B | 14.36B | 12.24B | 10.88B | 11.66B | 11.31B | 11.4B | 10.74B | 10.72B | 10.75B | 9.86B | 9.24B | 8.85B | 7.95B | 7.05B | 7.74B | 7.63B | 7.18B | 6.72B | 6.27B | 5.83B | 5.7B | 5.7B | 5.67B | 5.35B | 4.4B | 4.12B | 3.95B |
| COGS % of Revenue | - | 65.42% | 63.71% | 64.09% | 64.97% | 64.84% | 65.81% | 66.56% | 67.21% | 69.92% | 70.02% | 70.18% | 70.06% | 70.02% | 70.97% | 71.06% | 70.98% | 70.07% | 70.29% | 70.33% | 68.68% | 68.68% | 68.89% | 68.96% | 69.07% | 69.33% | 67.77% | 67.24% | 66.78% | 68.6% | 69.09% |
| Gross Profit | 8.93B | 8.4B | 8.52B | 8.29B | 7.74B | 6.63B | 5.65B | 5.86B | 5.52B | 4.91B | 4.6B | 4.56B | 4.59B | 4.22B | 3.78B | 3.61B | 3.25B | 3.01B | 3.27B | 3.22B | 3.28B | 3.06B | 2.83B | 2.62B | 2.55B | 2.52B | 2.7B | 2.6B | 2.19B | 1.89B | 1.77B |
| Gross Margin % | 36.17% | 34.58% | 36.29% | 35.91% | 35.03% | 35.16% | 34.19% | 33.44% | 32.79% | 30.08% | 29.98% | 29.82% | 29.94% | 29.98% | 29.03% | 28.94% | 29.02% | 29.93% | 29.71% | 29.67% | 31.32% | 31.32% | 31.11% | 31.04% | 30.93% | 30.67% | 32.23% | 32.76% | 33.22% | 31.4% | 30.91% |
| Gross Profit Growth % | - | -1.42% | 2.81% | 7.11% | 16.67% | 17.32% | -3.5% | 6.16% | 12.5% | 6.67% | 0.96% | -0.83% | 8.86% | 11.69% | 4.77% | 10.85% | 8.08% | -8.03% | 1.72% | -1.78% | 6.9% | 8.28% | 7.9% | 2.68% | 1.3% | -6.54% | 3.57% | 19.03% | 16.06% | 6.65% | 7.13% |
| Operating Expenses | 7.84B | 7.19B | 7.08B | 6.54B | 6.13B | 5.47B | 4.68B | 4.85B | 4.48B | 3.91B | 3.55B | 3.43B | 3.47B | 3.17B | 2.76B | 2.7B | 2.47B | 2.34B | 2.47B | 2.38B | 2.48B | 2.36B | 2.19B | 2.05B | 1.95B | 1.95B | 2.05B | 1.98B | 1.6B | 1.32B | 1.22B |
| OpEx % of Revenue | - | 29.58% | 30.15% | 28.34% | 27.72% | 28.99% | 28.32% | 27.67% | 26.64% | 23.96% | 23.15% | 22.46% | 22.62% | 22.52% | 21.23% | 21.64% | 22.01% | 23.25% | 22.45% | 21.94% | 23.7% | 24.07% | 24.12% | 24.27% | 23.59% | 23.74% | 24.51% | 24.86% | 24.28% | 21.98% | 21.37% |
| Selling, General & Admin | 7.31B | 7.19B | 6.64B | 6.17B | 5.76B | 5.16B | 4.39B | 4.58B | 4.24B | 3.73B | 3.39B | 3.28B | 3.31B | 3.03B | 2.66B | 2.59B | 2.37B | 2.22B | 2.36B | 2.29B | 2.41B | 2.36B | 2.19B | 2.05B | 1.95B | 1.95B | 1.96B | 1.89B | 1.53B | 1.26B | 1.17B |
| SG&A % of Revenue | - | 29.58% | 28.28% | 26.71% | 26.06% | 27.36% | 26.53% | 26.12% | 25.2% | 22.85% | 22.11% | 21.45% | 21.6% | 21.51% | 20.41% | 20.82% | 21.12% | 22.07% | 21.42% | 21.13% | 23% | 24.07% | 24.12% | 24.27% | 23.59% | 23.74% | 23.4% | 23.73% | 23.22% | 21% | 20.49% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 3M | 0 | 437.98M | 376.48M | 367.61M | 308.71M | 296.42M | 271.14M | 243.51M | 181.62M | 159M | 154.05M | 155.5M | 142.65M | 106.43M | 102.18M | 99.93M | 118.87M | 112.58M | 87.7M | 73.42M | 0 | 0 | 0 | 0 | 0 | 92.3M | 89.97M | 69.31M | 58.9M | 50.4M |
| Operating Income | 1.09B | 1.21B | 1.44B | 1.75B | 1.61B | 1.16B | 971.68M | 1.01B | 1.04B | 998.54M | 1.05B | 1.12B | 1.12B | 1.05B | 1.02B | 909.48M | 786.35M | 670.95M | 800.08M | 837.85M | 796.72M | 709.06M | 635.92M | 571.74M | 605.74M | 569.93M | 646.75M | 628.04M | 589.14M | 565.6M | 545.3M |
| Operating Margin % | 4.42% | 5% | 6.14% | 7.57% | 7.31% | 6.16% | 5.88% | 5.77% | 6.15% | 6.12% | 6.84% | 7.36% | 7.33% | 7.45% | 7.8% | 7.3% | 7.02% | 6.67% | 7.26% | 7.73% | 7.62% | 7.25% | 6.99% | 6.77% | 7.33% | 6.93% | 7.73% | 7.9% | 8.94% | 9.42% | 9.53% |
| Operating Income Growth % | - | -15.81% | -17.42% | 8.23% | 38.81% | 19.68% | -3.88% | -2.33% | 3.65% | -4.78% | -6.74% | 0.02% | 7.15% | 3.36% | 11.62% | 15.66% | 17.2% | -16.14% | -4.51% | 5.16% | 12.36% | 11.5% | 11.22% | -5.61% | 6.28% | -11.88% | 2.98% | 6.6% | 4.16% | 3.72% | 6.75% |
| EBITDA | 1.64B | 1.75B | 1.85B | 2.1B | 1.96B | 1.45B | 1.24B | 1.27B | 1.26B | 1.17B | 1.2B | 1.27B | 1.27B | 1.18B | 1.11B | 998.42M | 875.68M | 761.36M | 888.78M | 925.55M | 870.14M | 774.59M | 698.13M | 640.76M | 675.89M | 655.73M | 739.05M | 718.04M | 658.44M | 624.5M | 595.7M |
| EBITDA Margin % | 6.66% | 7.21% | 7.88% | 9.08% | 8.88% | 7.7% | 7.53% | 7.24% | 7.5% | 7.15% | 7.8% | 8.29% | 8.29% | 8.4% | 8.56% | 8.01% | 7.81% | 7.57% | 8.07% | 8.54% | 8.32% | 7.92% | 7.67% | 7.58% | 8.18% | 7.98% | 8.83% | 9.03% | 10% | 10.4% | 10.41% |
| EBITDA Growth % | -9.39% | -5.3% | -11.77% | 6.91% | 34.95% | 16.82% | -1.87% | 0.44% | 8.27% | -2.5% | -5.53% | -0.51% | 7.55% | 6.26% | 11.53% | 14.02% | 15.01% | -14.34% | -3.97% | 6.37% | 12.34% | 10.95% | 8.95% | -5.2% | 3.07% | -11.27% | 2.93% | 9.05% | 5.43% | 4.83% | 7.53% |
| D&A (Non-Cash Add-back) | 553.62M | 538.02M | 407.98M | 350.53M | 347.82M | 290.97M | 272.84M | 257.26M | 227.58M | 167.69M | 147.49M | 141.68M | 148.31M | 133.96M | 98.38M | 88.94M | 89.33M | 90.41M | 88.7M | 87.7M | 73.42M | 65.53M | 62.21M | 69.01M | 70.15M | 85.79M | 92.3M | 90M | 69.3M | 58.9M | 50.4M |
| EBIT | 207.34M | 215.67M | 1.27B | 1.81B | 1.65B | 1.26B | 470.42M | 950.69M | 1.1B | 1.05B | 1.1B | 1.15B | 1.14B | 1.07B | 1.04B | 917.84M | 789.84M | 672.05M | 800.19M | 837.85M | 796.72M | 709.06M | 635.92M | 571.74M | 605.74M | 569.93M | 646.75M | 628.04M | 589.14M | 565.6M | 545.3M |
| Net Interest Income | -170.24M | -163.51M | -96.83M | -64.47M | -73.89M | -62.15M | -91.05M | -91.41M | -101.8M | -41.49M | -21.08M | -21.66M | -25.09M | -26.97M | -20.48M | -27.04M | -28.06M | -27.11M | -31.61M | -21.06M | -26.45M | -29.56M | -37.26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 773K | 109K | 10.27M | 5.13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 170.24M | 163.51M | 96.83M | 64.47M | 73.89M | 62.15M | 91.05M | 91.41M | 101.8M | 41.49M | 21.08M | 21.66M | 25.09M | 26.97M | 20.48M | 27.04M | 28.06M | 27.89M | 31.72M | 31.33M | 31.58M | 29.56M | 37.26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -1.05B | -1.16B | -266.77M | -4.71M | -41.6M | 37.43M | -592.32M | -151.65M | -40.4M | 10.73M | 25.71M | -733K | -6.49M | -4.94M | 3.8M | -18.68M | -24.57M | -26.79M | -31.61M | -21.11M | -25.8M | 0 | 0 | 0 | 0 | -73.92M | 0 | 22K | -24K | 0 | 0 |
| Pretax Income | 45.92M | 52.17M | 1.18B | 1.74B | 1.57B | 1.2B | 379.37M | 859.28M | 994.64M | 1.01B | 1.07B | 1.12B | 1.12B | 1.04B | 1.02B | 890.81M | 761.78M | 644.16M | 768.47M | 816.75M | 770.92M | 709.06M | 635.92M | 571.74M | 605.74M | 496.01M | 646.75M | 628M | 589.1M | 565.6M | 545.3M |
| Pretax Margin % | 0.19% | 0.21% | 5.01% | 7.55% | 7.12% | 6.36% | 2.29% | 4.9% | 5.91% | 6.19% | 7% | 7.35% | 7.29% | 7.42% | 7.83% | 7.15% | 6.8% | 6.4% | 6.98% | 7.53% | 7.37% | 7.25% | 6.99% | 6.77% | 7.33% | 6.03% | 7.73% | 7.9% | 8.94% | 9.42% | 9.53% |
| Income Tax | -14.16M | -13.78M | 271.89M | 425.82M | 389.9M | 301.56M | 215.97M | 212.81M | 245.1M | 392.51M | 387.1M | 418.01M | 406.45M | 359.35M | 370.89M | 325.69M | 286.27M | 244.59M | 293.05M | 310.41M | 295.51M | 271.63M | 240.37M | 218.1M | 238.24M | 198.87M | 261.43M | 250.4M | 233.3M | 223.2M | 215.2M |
| Effective Tax Rate % | -30.84% | -26.41% | 23.12% | 24.44% | 24.79% | 25.12% | 56.93% | 24.77% | 24.64% | 38.89% | 36.03% | 37.2% | 36.36% | 34.41% | 36.4% | 36.56% | 37.58% | 37.97% | 38.13% | 38.01% | 38.33% | 38.31% | 37.8% | 38.15% | 39.33% | 40.09% | 40.42% | 39.87% | 39.6% | 39.46% | 39.46% |
| Net Income | 60.09M | 65.94M | 904.08M | 1.32B | 1.18B | 898.79M | -29.1M | 621.09M | 810.47M | 616.76M | 687.24M | 705.67M | 711.29M | 684.96M | 648.04M | 565.12M | 475.51M | 399.57M | 475.42M | 506.34M | 475.4M | 437.43M | 395.55M | 334.1M | -27.59M | 297.15M | 385.32M | 377.6M | 355.8M | 342.4M | 330.1M |
| Net Margin % | 0.24% | 0.27% | 3.85% | 5.7% | 5.35% | 4.76% | -0.18% | 3.54% | 4.82% | 3.78% | 4.48% | 4.62% | 4.64% | 4.87% | 4.98% | 4.54% | 4.24% | 3.97% | 4.32% | 4.67% | 4.55% | 4.47% | 4.35% | 3.95% | -0.33% | 3.61% | 4.6% | 4.75% | 5.4% | 5.7% | 5.77% |
| Net Income Growth % | -92.93% | -92.71% | -31.33% | 11.31% | 31.59% | 3188.41% | -104.69% | -23.37% | 31.41% | -10.26% | -2.61% | -0.79% | 3.84% | 5.7% | 14.67% | 18.84% | 19% | -15.95% | -6.11% | 6.51% | 8.68% | 10.59% | 18.39% | 1310.95% | -109.29% | -22.88% | 2.05% | 6.13% | 3.91% | 3.73% | 6.76% |
| Net Income (Continuing) | 60.09M | 65.94M | 904.08M | 1.32B | 1.18B | 898.79M | 163.4M | 646.48M | 749.53M | 616.76M | 687.24M | 705.67M | 711.29M | 684.96M | 648.04M | 565.12M | 475.51M | 399.57M | 475.42M | 506.34M | 475.4M | 437.43M | 395.55M | 353.64M | 367.5M | 297.15M | 385.32M | 377.62M | 355.79M | 342.4M | 330.1M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | -192.5M | -25.39M | 60.94M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 16.8M | 17.37M | 14.44M | 15.94M | 14.08M | 12.55M | 13.21M | 20.79M | 21.54M | 52M | 13.63M | 12.68M | 11.12M | 9.69M | 10.29M | 9.58M | 8.89M | 8.04M | 69.05M | 66.23M | 60.72M | 57.05M | 52.39M | 47.64M | 47.41M | 45.78M | 44.6M | 46.3M | 45M | 39.4M | 35.6M |
| EPS (Diluted) | 0.44 | 0.47 | 6.47 | 9.33 | 8.31 | 6.23 | -0.20 | 4.24 | 5.50 | 4.18 | 4.59 | 4.63 | 4.61 | 4.40 | 4.14 | 3.58 | 3.00 | 2.50 | 2.92 | 2.98 | 2.76 | 2.50 | 2.25 | 1.91 | -0.16 | 1.71 | 2.20 | 2.11 | 1.98 | 1.90 | 1.81 |
| EPS Growth % | -92.94% | -92.74% | -30.65% | 12.27% | 33.39% | 3215% | -104.72% | -22.91% | 31.58% | -8.93% | -0.86% | 0.43% | 4.77% | 6.28% | 15.64% | 19.33% | 20% | -14.38% | -2.01% | 7.97% | 10.4% | 11.11% | 17.8% | 1293.75% | -109.36% | -22.27% | 4.27% | 6.57% | 4.21% | 4.97% | 7.74% |
| EPS (Basic) | - | 0.47 | 6.49 | 9.38 | 8.36 | 6.27 | -0.20 | 4.26 | 5.53 | 4.19 | 4.61 | 4.65 | 4.64 | 4.43 | 4.17 | 3.61 | 3.01 | 2.51 | 2.93 | 2.99 | 2.77 | 2.51 | 2.26 | 1.92 | -0.16 | 1.72 | 2.20 | 2.11 | 1.98 | 1.91 | 1.82 |
| Diluted Shares Outstanding | 138.03M | 139.25M | 139.67M | 141.03M | 142.32M | 144.22M | 145.12M | 146.42M | 147.24M | 147.7M | 149.8M | 152.5M | 154.38M | 155.71M | 156.42M | 157.66M | 158.46M | 159.71M | 162.99M | 170.13M | 172.49M | 175.01M | 175.66M | 174.48M | 175.1M | 173.63M | 175.33M | 179.24M | 180.08M | 180.21M | 182.38M |
| Basic Shares Outstanding | 137.62M | 138.94M | 139.21M | 140.37M | 141.47M | 143.44M | 144.47M | 145.74M | 146.66M | 147.14M | 149.05M | 151.67M | 153.3M | 154.64M | 155.41M | 156.66M | 158.03M | 159.41M | 162.35M | 169.13M | 171.58M | 174.05M | 174.69M | 174M | 174.37M | 172.76M | 175.01M | 178.75M | 179.42M | 179.27M | 181.37M |
| Dividend Payout Ratio | - | 855.02% | 61.38% | 40% | 41.93% | 51.81% | - | 70.67% | 51.33% | 64.12% | 56.29% | 52.19% | 48.82% | 47.63% | 46.45% | 48.9% | 54.24% | 63.46% | 52.97% | 48.04% | 47.97% | 49.35% | 52.73% | 61.23% | - | 65.63% | 49.31% | 48.78% | 50.03% | 49.42% | 48.53% |
Margin compression and integration
According to recent quarterly filings, GPC achieved a 6.8% revenue growth rate in 2026Q1, suggesting a modest recovery from the 0.3% growth observed in 2024Q1, though the durability of this expansion remains uncertain given the company's reliance on inorganic store acquisitions and fluctuating industrial demand cycles.
The revenue trajectory appears to be oscillating, reflecting the dual-segment exposure to both automotive aftermarket resilience and industrial MRO volatility. Investors should monitor whether this recent uptick represents genuine organic volume growth or merely the impact of consolidating previously independent NAPA jobber locations into the corporate footprint.
As reported in financial statements, GPC's gross margin reached 37.3% in 2026Q1, yet the net margin remains under significant pressure, having dipped to a negative 10.1% in 2025Q4, which highlights the company's vulnerability to non-recurring charges and the high cost of maintaining a complex global distribution network.
The disparity between gross and net margins suggests that while the company maintains pricing power in its core segments, the operating structure is burdened by significant overhead and potential impairment costs. The persistent gap between GPC's profitability and that of pure-play peers like O'Reilly Automotive warrants further investigation into the efficiency of its international operations.
Based on GPC's reported figures, operating income scaled to $286.3 million in 2026Q1, yet the SG&A expenses remain stubbornly high at $1.9 billion, indicating that the company is struggling to achieve meaningful operating leverage despite its massive scale and integrated hub-and-spoke distribution model across multiple global markets.
The inability to significantly decouple SG&A growth from revenue expansion suggests that the company's organizational complexity may be acting as a drag on profitability. Analysts should evaluate whether the current cost structure is a permanent feature of the business model or if management can implement more rigorous expense discipline in the coming quarters.
Data from the last ten quarters reveals a concerning trend in EPS volatility, with a sharp decline of 57.5% in 2024Q4, which suggests that the market's perception of GPC as a defensive, stable-growth entity may be overly optimistic given the underlying sensitivity to non-operating items and restructuring costs.
Short-term volatility in net income, particularly the significant loss in 2025Q4, raises questions about the quality of earnings and the potential for future impairments. Investors should be wary of the 'conglomerate discount' and the possibility that the industrial segment's growth may not be sufficient to offset the structural headwinds facing the automotive aftermarket.
Quick answers to the most common questions about buying GPC stock.
For fiscal year 2025, Genuine Parts Company (GPC) reported total revenue of $24.30B. This represents a 324.8% increase compared to $5.72B in 1996.
Genuine Parts Company (GPC) is profitable, generating $65.9M in net income for the fiscal year ending 2025 with a net profit margin of 0.3%.
Genuine Parts Company (GPC) reported an operating income of $1.21B, resulting in an operating profit margin of 5.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Genuine Parts Company (GPC) generated $8.40B in gross profit for the year, representing a gross profit margin of 34.6%. This demonstrates the company's core pricing power and production efficiency.