LKQ CORP

10-K & 10-Q Filings

LKQ Corporation, a global distributor of vehicle parts and accessories, was formed in 1998 and has since expanded through internal development and acquisitions. The company's mission is to be the leading global value-added and sustainable distributor of vehicle parts and accessories by offering a comprehensive selection of parts and services, building strong partnerships, and focusing on operational excellence. LKQ operates in four segments: Wholesale - North America, Europe, Specialty, and Self Service. The Wholesale - North America segment is a leading distributor of alternative vehicle parts, including aftermarket, recycled, refurbished, and remanufactured parts, as well as new OEM parts. The Europe segment is a leading distributor of aftermarket mechanical parts in Europe, and the Specialty segment is a leading distributor of specialty vehicle aftermarket equipment and accessories. The Self Service segment operates self-service retail facilities across the U.S. that sell recycled automotive products. LKQ's website is www.lkqcorp.com and its ticker symbol is LKQ. The company's strategic pillars include growing diversified product and service offerings, expanding geographic footprint, adapting to evolving technology, and rationalizing the asset base. LKQ's extensive distribution network, broad product offerings, high fulfillment rates, and strong business relationships provide competitive advantages. The company has implemented various improvement plans to enhance operational efficiencies and focuses on technology-driven business processes and adaptation to evolving technology in the vehicle industry. LKQ's website provides a full suite of e-commerce services for approved partners and operates a delivery fleet of trucks and vans to minimize distribution costs and improve customer service. The company competes with alternative parts distributors, OEMs, and internet-based suppliers based on distribution systems, product lines, inventory availability, customer service, and relationships with insurance companies. LKQ's Europe segment operates in over 20 countries and has a distribution network larger than those of any of its principal competitors. The company uses various IT systems for its operations and is implementing a European-wide ERP system to reduce the number of IT systems it operates. LKQ's Specialty segment was formed in 2014 and serves the following seven product segments: RV, truck and off-road, towing, speed and performance, wheels, tires and performance handling, marine, and miscellaneous accessories. The company's inventory is primarily composed of mechanical aftermarket parts for the repair of vehicles 3 to 15 years old and includes top selling products such as brake pads, discs and sensors, clutches, electrical products, steering and suspension products, filters, and oil and automotive fluids. LKQ's top supplier represented 9% of its aftermarket inventory purchases for its Europe segment in 2023, and the company purchased 94% of its products from companies in Europe. The company primarily operates a two-step distribution model in Europe and sells the majority of its products to commercial customers consisting of professional repairers. LKQ faces significant competition in Europe from other alternative parts suppliers and OEMs and their dealer networks. The company uses various IT systems for its operations in Europe and is implementing a European-wide ERP system to reduce the number of IT systems it operates.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$3269.86
4122.93
5062.53
6740.06
7192.63
8584.03
9736.91
11876.67
12506.11
11628.83
13088.50
12794.00
13866.00
3349.00
3703.00
12.79%10.57%Cost of Revenue (-)
$1877.87
2398.79
2987.13
4088.15
4359.10
5232.33
5937.29
7301.82
7654.31
7035.56
7766.07
7571.00
8291.00
1977.00
2251.00
13.17%13.86%Gross Profit (+)
$1391.99
1724.14
2075.40
2651.91
2833.53
3351.70
3799.62
4574.86
4851.79
4593.27
5322.44
5223.00
5575.00
1372.00
1452.00
12.26%5.83%Selling, General & Administrative (-)
$391.94
495.59
597.05
762.89
828.33
986.38
1131.21
3352.73
3580.30
3266.07
3567.73
3544.00
3870.00
931.00
1044.00
21.02%12.14%Depreciation & Amortization (-)
$49.93
64.09
80.97
120.72
122.12
191.43
219.55
274.21
290.77
272.29
259.99
237.00
283.00
58.00
89.00
15.55%53.45%Non-recurring Operating Expenses (-)
$
33.24
47.10
Operating Expenses (-)
$1030.51
1286.19
1545.22
2002.05
2128.90
2588.30
2952.31
3692.62
3989.81
3607.69
3848.06
3642.00
4218.00
1007.00
1163.00
12.46%15.49%Costs & Expenses (Total) (-)
$2908.38
3684.98
4532.35
6090.20
6488.01
7820.63
8889.59
10994.43
11644.12
10643.25
11614.13
11213.00
12509.00
2984.00
3414.00
12.93%14.41%Operating Income/Loss (+)
$361.48
437.95
530.18
649.87
704.63
763.40
847.32
882.24
896.64
985.58
1474.37
1581.00
1357.00
365.00
289.00
11.65%-20.82%Non-operating Income/Expense (+)
$-25.71
-28.79
-54.35
-61.98
-55.60
-86.12
-80.69
-138.81
-105.62
-100.58
-75.24
-63.00
-122.00
-4.00
-58.00
-1350.00%Interest Expense (-)
$
103.78
72.08
-78.00
-214.00
-36.00
-64.00
-77.78%Earnings before Tax (+)
$335.77
409.17
475.83
587.89
649.03
677.28
766.63
743.43
791.02
885.00
1399.13
1518.00
1235.00
361.00
231.00
11.46%-36.01%Tax Expense (-)
$125.51
147.94
164.20
204.26
219.70
220.57
235.56
191.40
215.33
249.50
330.59
385.00
306.00
94.00
71.00
7.71%-24.47%Income/Loss (Continuing Operations) (+)
$210.26
261.23
311.62
383.62
429.33
456.12
536.97
487.56
543.41
640.51
1091.48
1144.00
944.00
270.00
160.00
13.33%-40.74%Income/Loss (Discontinued Operations) (+)
$
7.85
-6.75
-4.40
1.62
-0.10
0.65
6.00
-6.00
Profit/Loss (+)
$
530.23
483.17
545.03
640.41
1092.12
1150.00
938.00
158.00
Net Income/Loss (NCI) (-)
$
-3.52
3.05
Net Income/Loss (+)
$210.26
261.23
311.62
381.52
423.22
463.98
533.74
480.12
541.26
638.42
1090.87
1149.00
938.00
270.00
158.00
13.27%-41.48%Net Income/Loss (Common) (+)
$210.26
261.23
311.62
381.52
423.22
463.98
533.74
480.12
541.26
638.42
1090.87
1149.00
938.00
270.00
158.00
13.27%-41.48%EPS (Basic)
$1.44
0.88
1.04
1.26
1.39
1.51
1.73
1.53
1.75
2.10
3.68
4.15
1.01
EPS (Diluted)
$1.42
0.87
1.02
1.25
1.38
1.50
1.72
1.52
1.74
2.09
3.66
4.13
3.49
1.01
0.59
7.78%-41.58%Weighted Avg Shares (Basic)
147.27
298.37
301.38
304.08
306.20
308.00
309.57
314.78
307.15
303.31
285.01
267.07
267.29
Cash
$48.25
59.77
150.49
114.61
87.40
227.40
279.77
331.76
278.00
299.00
342.00
344.00
16.42%0.58%Receivables
$281.76
311.81
458.09
601.42
590.16
860.55
1027.11
1154.08
1131.13
1073.39
1072.77
998.00
1165.00
1257.00
1392.00
12.56%10.74%Inventory
$736.85
900.80
1076.95
1433.85
1556.55
1935.24
2380.78
2836.07
2772.78
2414.61
2610.51
2752.00
3121.00
2733.00
3123.00
12.78%14.27%Prepaid Expenses (Current)
$19.59
28.95
42.28
85.80
106.60
87.77
134.48
199.03
260.89
233.88
296.95
230.00
283.00
291.00
343.00
24.92%17.87%Other Assets (Current)
$63.29
83.02
72.01
81.74
456.64
523.02
312.15
274.13
Assets (Current)
$1149.73
1384.35
1799.82
2317.42
2340.71
3567.59
3822.13
4520.95
4687.82
4034.03
4254.37
4258.00
4868.00
4623.00
5202.00
12.78%12.52%Securities & Long-term Investments
$
183.47
208.40
179.17
139.24
155.22
180.71
141.00
159.00
156.00
163.00
4.49%Property, Plant & Equipment (Net)
$424.10
494.38
546.65
629.99
696.57
811.58
913.09
1220.16
2542.91
2601.83
2660.06
1236.00
2852.00
2514.00
2807.00
17.21%11.65%Goodwill & Intangibles
$1584.97
1797.00
2091.18
2534.42
2534.36
3639.00
4280.28
5310.21
5256.87
5405.79
5286.05
4972.00
6913.00
5017.00
6797.00
13.06%35.48%Other Assets
$40.90
47.73
81.12
91.67
76.19
101.56
142.97
162.91
153.11
163.66
224.97
1431.00
287.00
198.00
301.00
17.63%52.02%Assets (Non-current)
$2049.97
2339.11
2718.96
3256.07
3307.13
4735.60
5544.74
6872.45
8092.14
8326.50
8351.79
7780.00
10211.00
7885.00
10068.00
14.32%27.69%Assets (Total)
$3199.70
3723.46
4518.77
5573.49
5647.84
8303.20
9366.87
11393.40
12779.96
12360.53
12606.15
12038.00
15079.00
12508.00
15270.00
13.79%22.08%Accounts Payable
$323.67
356.90
565.28
650.37
626.58
922.08
1150.64
1402.83
1411.68
1476.01
1708.25
1851.00
2217.00
1909.00
2436.00
17.39%27.61%Debt (Current)
$29.52
71.72
41.53
63.52
221.53
Other Liabilities (Current)
$44.50
59.32
71.14
36.81
125.39
288.70
172.09
287.52
545.30
512.48
457.20
420.00
1101.00
503.00
623.00
30.65%23.86%Liabilities (Current)
$397.69
487.94
677.95
750.70
751.97
1210.79
1322.72
1690.35
2178.51
1988.49
2165.45
2271.00
3318.00
2412.00
3059.00
19.34%26.82%Debt (Non-current)
$926.55
1046.76
1264.25
1801.05
1137.60
Other Liabilities
$231.37
224.66
225.83
301.09
1781.23
3649.46
3837.49
4864.30
4391.19
4676.66
4630.05
4276.00
5580.00
4367.00
6038.00
30.37%38.26%Liabilities (Non-current)
$1157.93
1271.42
1490.08
2102.14
1781.23
3649.46
3837.49
4864.30
5528.79
4676.66
4630.05
4276.00
5580.00
4367.00
6038.00
14.00%38.26%Liabilities (Total)
$1555.62
1759.36
2168.03
2852.84
2533.20
4860.25
5160.22
6554.65
7707.30
6665.16
6795.49
6547.00
8898.00
6779.00
9097.00
15.64%34.19%Treasury Stock
$
60.00
351.81
469.11
1345.95
2389.00
2424.00
2394.00
2454.00
2.51%Retained Earnings
$748.79
1010.02
1321.64
1703.16
2126.38
2590.36
3124.10
3598.88
4140.14
4776.04
5793.52
6656.00
7290.00
6852.00
7367.00
20.88%7.52%AOCI
$-8.96
0.76
20.01
-40.23
-105.47
-267.18
-70.48
-174.95
-200.88
-99.01
-153.13
-323.00
-240.00
-280.00
-298.00
-6.43%Shareholder's Equity
$1644.09
1964.09
2350.74
2720.66
3114.68
3442.95
4206.65
4838.75
5048.58
5671.30
5786.58
5467.00
6181.00
5705.00
6173.00
11.67%8.20%Liabilities & Equity
$3199.70
3723.46
4518.77
5573.49
5647.84
8303.20
9366.87
11393.40
12779.96
12360.53
12606.15
12038.00
15079.00
12508.00
15270.00
13.79%22.08%Net Income/Loss
$210.26
261.23
311.62
381.52
423.22
463.98
530.23
483.17
545.03
640.41
1092.12
1150.00
938.00
270.00
158.00
13.27%-41.48%Depreciation & Amortization
$56.52
70.17
86.46
125.44
128.19
198.33
230.20
294.08
314.41
299.50
284.00
264.00
319.00
65.00
100.00
15.51%53.85%Increase/Decrease in Working Capital
$73.99
133.83
-12.37
153.10
58.20
87.69
226.51
199.69
-97.94
-496.72
2.72
35.00
-77.00
110.00
46.00
-58.18%Adjustments to Reconcile Net Income
$1.51
-55.03
116.43
-10.62
106.61
167.68
-11.33
227.57
519.00
803.46
274.92
100.00
418.00
-47.00
95.00
59.80%302.13%Net Cash (Operating)
$211.77
206.19
428.06
370.90
529.84
635.01
518.90
710.74
1064.03
1443.87
1367.05
1250.00
1356.00
223.00
253.00
16.73%13.45%Capital Expenditure
$571.61
352.53
505.61
916.87
331.01
1742.08
383.84
1497.66
266.11
165.89
397.80
-182.00
2462.00
92.00
83.00
12.94%-9.78%Net Cash (Investing)
$-571.61
-352.53
-505.61
-920.99
-329.99
-1709.93
-384.60
-1458.94
-264.85
-165.89
-418.76
172.00
-2442.00
-97.00
-88.00
9.28%Increase/Decrease in Debt
$756.43
979.30
-450.86
496.36
-239.03
1218.66
-117.56
959.04
-281.44
-1364.54
85.30
-48.00
111.00
41.00
-781.00
-14.78%-2004.88%Increase/Decrease in Equity
$-11.05
-0.25
583.06
-3.75
-0.10
546.90
-4.27
44.17
-291.81
-120.61
-876.84
-1040.00
-71.00
-27.00
-36.00
-33.33%Interest Expenses
$21.35
29.03
45.25
59.68
54.92
86.02
95.71
137.87
143.12
106.87
75.63
71.00
197.00
24.00
43.00
20.34%79.17%Dividends Paid
$
72.87
284.00
302.00
74.00
81.00
9.46%Net Cash (Financing)
$311.41
157.07
165.94
519.00
-224.09
1225.74
-112.57
883.00
-600.67
-1512.55
-985.13
-1394.00
1102.00
-66.00
-113.00
11.11%-71.21%Cash Taxes Paid
$113.43
146.48
110.86
176.96
180.13
230.04
273.02
200.10
181.31
248.08
422.74
346.00
305.00
34.00
27.00
8.59%-20.59%Effect of Exchange Rate
$0.98
0.80
2.33
-4.79
-2.96
-3.70
23.51
-77.31
-0.90
11.87
-1.17
-24.00
5.00
4.00
-7.00
14.53%-275.00%Increase/Decrease in Cash
$-47.44
11.52
90.72
-35.88
-27.21
147.12
45.25
57.48
197.61
-222.70
-38.02
4.00
21.00
64.00
45.00
-29.69%Cash (Beginning)
$95.69
48.25
59.77
150.49
114.61
87.40
227.40
279.77
337.25
534.86
312.15
278.00
278.00
299.00
9.29%7.55%Cash (Ending)
$48.25
59.77
150.49
114.61
87.40
227.40
279.77
337.25
534.86
312.15
274.13
278.00
299.00
342.00
344.00
16.42%0.58%NOPAT
$239.36
281.17
406.65
454.26
509.07
504.11
545.56
644.78
691.13
709.30
1028.90
1220.64
1021.87
330.62
255.22
12.86%-22.81%Gross Margin %
42.57%
41.82%
41.00%
39.35%
39.39%
39.05%
39.02%
38.52%
38.80%
39.50%
40.66%
40.82%
40.21%
40.97%
39.21%
Operating Margin %
11.05%
10.62%
10.47%
9.64%
9.80%
8.89%
8.70%
7.43%
7.17%
8.48%
11.26%
12.36%
9.79%
10.90%
7.80%
NOPAT Margin %
7.32%
6.82%
8.03%
6.74%
7.08%
5.87%
5.60%
5.43%
5.53%
6.10%
7.86%
9.54%
7.37%
9.87%
6.89%
Net Margin %
6.43%
6.34%
6.16%
5.66%
5.88%
5.41%
5.48%
4.04%
4.33%
5.49%
8.33%
8.98%
6.76%
8.06%
4.27%
Tax Rate %
33.78%
35.80%
23.30%
30.10%
27.75%
33.96%
35.61%
26.92%
22.92%
28.03%
30.21%
22.79%
24.70%
9.42%
11.69%
ROA
7.48%
7.55%
9.00%
8.15%
9.01%
6.07%
5.82%
5.66%
5.41%
5.74%
8.16%
10.14%
6.78%
2.64%
1.67%
ROE
14.56%
14.32%
17.30%
16.70%
16.34%
14.64%
12.97%
13.33%
13.69%
12.51%
17.78%
22.33%
16.53%
5.80%
4.13%
ROIC
8.71%
8.77%
10.80%
9.60%
10.43%
7.76%
7.01%
6.78%
8.86%
8.86%
12.95%
14.52%
8.61%
3.31%
2.12%
Asset Turnover
1.02
1.11
1.12
1.21
1.27
1.03
1.04
1.04
0.98
0.94
1.04
1.06
0.92
0.27
0.24
Inventory Turnover
2.55
2.66
2.77
2.85
2.80
2.70
2.49
2.57
2.76
2.91
2.97
2.75
2.66
0.72
0.72
Equity Multiplier
1.95
1.90
1.92
2.05
1.81
2.41
2.23
2.35
2.53
2.18
2.18
2.20
2.44
2.19
2.47
Current Ratio
2.89
2.84
2.65
3.09
3.11
2.95
2.89
2.67
2.15
2.03
1.96
1.87
1.47
1.92
1.70
Quick Ratio
0.83
0.76
0.90
0.95
0.90
0.90
0.99
0.88
0.52
0.54
0.50
0.56
0.44
0.66
0.57
Debt/Equity Ratio
0.58
0.57
0.56
0.69
0.27
Interest Coverage Ratio
16.93
15.09
11.72
10.89
12.83
8.87
8.85
6.40
6.26
9.22
19.49
22.27
6.89
15.21
6.72
Working Capital/Sales
0.23
0.22
0.22
0.23
0.23
0.24
0.27
0.25
0.17
0.15
0.73
0.66
Dividend Payout Ratio %
7.08%
23.27%
29.55%
22.38%
31.74%
Total Payout
$-724.03
-950.02
-86.95
-432.93
294.04
-1679.54
217.53
-865.35
716.37
1592.01
940.05
1443.00
459.00
84.00
941.00
1020.24%Payout Ratio %
-302.48%
-337.88%
-21.38%
-95.31%
57.76%
-333.17%
39.87%
-134.21%
103.65%
224.45%
91.36%
118.22%
44.92%
25.41%
368.70%