Digital Auto Care Factbook 2016 - 33

FINANCIAL PROFILES OF SELECT AUTO CARE COMPANIES

Balance Sheet Metrics
As of 3/31/2015

($ in millions, except per share)

Ticker

A/R

Days Outstanding
Inventory
A/P

Cash
Conversion

Total
Debt

Debt /
Capital

Debt /
EBITDA

Interest
Coverage

Current
Ratio

Quick
Ratio

S&P Debt
Rating
Outlook

SUPPLIERS
Affinia Group Intermediate Holdings, Inc.1

N/A

37.4

75.2

45.1

67.5

$811

137.0%

4.8x

2.6x

2.2x

0.8x

B

Stable

Cooper Tire & Rubber Co.

CTB

38.8

61.8

38.2

62.4

366

29.3%

0.7x

13.2x

2.8x

1.8x

BB-

Stable

Dorman Products, Inc.

DORM

93.7

130.9

46.1

178.5

0

NA

NA

NA

5.0x

2.8x

NA

NA

Federal-Mogul Corp.

FDML

68.4

66.6

49.1

85.8

2,690

74.7%

4.4x

1.6x

1.7x

1.0x

B

Stable

Goodyear Tire & Rubber Co.

GT

45.6

72.0

79.3

38.4

6,394

59.1%

2.8x

3.1x

1.6x

0.9x

BB-

Positive

Motorcar Parts of America, Inc.

MPAA

NA

102.2

89.6

NA

82

30.4%

2.2x

2.6x

1.7x

0.8x

NA

NA

Remy International, Inc.

REMY

62.9

59.2

63.5

58.6

310

34.6%

2.5x

5.2x

1.7x

1.0x

BB-

Stable

Snap-on, Inc.

SNA

62.0

100.0

31.7

130.4

919

29.2%

1.2x

12.8x

2.6x

1.6x

A-

Stable

Standard Motor Products, Inc.

SMP

46.9

144.6

37.1

154.4

57

13.2%

0.5x

NM

1.9x

0.6x

NA

NA

Tenneco, Inc.

TEN

45.6

35.1

70.9

9.8

1,129

66.3%

1.5x

4.5x

1.3x

0.8x

BB+

Stable

UCI Holdings Limited1

N/A

85.4

91.6

60.7

116.3

708

75.8%

6.1x

1.5x

2.1x

1.0x

CCC+

Negative

MEAN

58.7

85.4

55.6

90.2

$1,224

55.0%

2.7X

5.2X

2.2X

1.2X

MEDIAN

54.4

75.2

49.1

76.7

$708

46.8%

2.3X

3.1X

1.9X

1.0X
Stable

RETAILERS & DISTRIBUTORS
Advance Auto Parts, Inc.

AAP

9.0

223.5

144.5

87.9

$1,659

45.3%

1.3x

13.8x

1.3x

0.2x

BBB-

American Tire Distributors Holdings, Inc.1

N/A

25.0

82.7

54.9

52.9

1,824

74.5%

7.5x

1.3x

1.8x

0.5x

NA

NA

AutoZone, Inc.

AZO

7.2

254.2

259.1

2.4

4,448

149.3%

2.1x

10.5x

0.8x

0.1x

BBB

Stable

Genuine Parts Company

GPC

42.1

101.7

81.2

62.6

806

19.6%

0.6x

NM

1.6x

0.6x

NA

NA

KAR Auction Services, Inc.

KAR

248.4

NA

125.5

NA

2,620

62.9%

4.6x

5.5x

1.3x

1.2x

B+

Stable

O'Reilly Automotive, Inc.

ORLY

7.0

256.5

221.4

42.1

1,397

40.9%

1.0x

19.5x

1.1x

0.2x

BBB+

Stable

Pep Boys - Manny, Moe & Jack

PBY

5.0

152.5

53.8

103.6

377

40.7%

4.2x

1.4x

1.3x

0.1x

B

Stable

U.S. Auto Parts Network, Inc.

PRTS

5.8

77.7

38.8

44.7

21

48.1%

3.8x

NM

1.3x

0.2x

NA

NA

Uni-Select, Inc.

UNS

42.4

154.9

62.1

135.2

429

45.5%

4.6x

6.1x

1.8x

0.5x

NA

NA

MEAN

43.5

163.0

115.7

66.4

$1,509

58.5%

3.3X

8.3X

1.4X

0.4X

9.0

153.7

81.2

57.8

$1,397

45.5%

3.8X

6.1X

1.3X

0.2X

MEDIAN

INDEPENDENT SERVICE PROVIDERS & DEALERS
Asbury Automotive Group, Inc.

ABG

6.6

61.6

4.5

63.7

$1,552

77.7%

5.2x

4.5x

1.2x

0.3x

BB

Positive

AutoNation, Inc.

AN

6.0

64.8

5.9

64.9

5,226

71.6%

5.7x

5.0x

1.0x

0.2x

BBB-

Stable

CarMax, Inc.

KMX

2.8

55.0

12.6

45.2

9,109

74.3%

8.3x

NM

2.6x

0.2x

NA

NA

Group 1 Automotive, Inc.

GPI

4.3

66.6

11.7

59.3

2,496

71.8%

6.5x

3.3x

1.1x

0.2x

BB+

Stable

16.4

84.3

4.5

96.1

1,821

73.0%

6.9x

7.3x

1.1x

0.2x

NA

NA

1.3

89.1

42.7

47.7

283

38.2%

2.0x

10.2x

1.2x

0.1x

NA

NA

14.1

66.5

9.6

71.0

4,086

70.8%

7.1x

4.0x

1.1x

0.2x

BB

Stable
Stable

Lithia Motors, Inc.

LAD

Monro Muffler Brake, Inc.

MNRO

Penske Automotive Group, Inc.

PAG

Pep Boys - Manny, Moe & Jack

PBY

5.0

152.5

53.8

103.6

377

40.7%

4.2x

1.4x

1.3x

0.1x

B

Rush Enterprises, Inc.

RUSH.B

8.5

83.9

9.8

82.6

1,482

66.0%

4.9x

0.4x

1.1x

0.3x

NA

NA

Sonic Automotive, Inc.

SAH

14.9

60.4

6.0

69.3

2,056

75.5%

6.9x

2.4x

1.1x

0.2x

BB

Stable

MEAN

8.0

78.5

16.1

70.4

$2,849

66.0%

5.8X

4.3X

1.2X

0.1X

MEDIAN

6.3

66.6

9.7

67.1

$1,939

71.7%

6.1X

4.0X

1.2X

0.1X

COLLISION
Boyd Group Income Fund

BYD.UN

21.1

10.9

64.8

NM

$147

0.5x

2.1x

7.5x

1.3x

1.0x

NA

NA

Copart, Inc.

CPRT

71.8

5.0

81.2

NM

686

0.4x

1.6x

NM

3.8x

3.6x

NA

NA

KAR Auction Services, Inc.

KAR

248.4

NA

125.5

NA

2,620

0.6x

4.6x

5.5x

1.3x

1.2x

B+

Stable

LKQ Corp.

LKQ

28.7

112.1

30.8

110.0

1,870

0.4x

2.4x

10.1x

3.1x

1.0x

BB+

Stable

Solera Holdings, Inc.

SLH

48.5

NA

37.2

NA

2,284

0.7x

5.5x

3.4x

2.2x

2.0x

BB-

Stable

MEAN

83.7

42.7

67.9

110.0

$1,521

53.3%

3.2X

6.6X

2.3X

1.7X

MEDIAN

48.5

10.9

64.8

110.0

$1,870

52.0%

2.4X

6.5X

2.2X

1.2X

Affinia Group, American Tire Distributors, and UCI International have publicly traded debt only and thus are included in operating and balance sheet metrics, but not valuation multiples
* Definitions: EBITDA = Earnings Before Interest, Taxes, Depreciation, and Amortization; Acct. Rec. Days Outstanding = Accounts Receivable / Sales * Days; Inventory Days Outstanding
= Inventory / Cost of Goods Sold * Days; Days Payable Outstanding = Accounts Payable / Cost of Goods Sold * Days; Cash Conversion = Acct. Rec. Days Outstanding + Inventory Days
Outstanding - Days Payable Outstanding; Debt / Capital = Total Debt / (Total Debt + Book Value of Equity); Interest Coverage = EBITDA / Interest Expense
Sources: Capital IQ, Bloomberg, Company filings

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2016 Digital Auto Care Factbook Copyright © 2015 Auto Care Association

33
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Digital Auto Care Factbook 2016

Table of Contents for the Digital Edition of Digital Auto Care Factbook 2016
