Advance Auto Parts is specialty retailer of automotive replacement parts, accessories, batteries, and maintenance items. The company grew up significantly over the last three years. For example, their revenue growth rate was more than 51% last year. LTM revenue is going up as well, but the growth rate is a little bit smaller, but still 10% is high enough for this industry. Income statement The company's income statement is really solid. The company's revenue is growing as I told already. I do like that the company is efficiently working on its margins. The company made a big $2B deal with General Parts International. Before the deal, General Parts International had around $2.9B in revenue with around 6% in EBIT margin. After the deal AAP added more than $3.35B in revenue, the EBIT margin went down by just 1%. One year after the deal, we can see that the company is going to increase its margins. As of October 2015 the company had 13% in EBITDA margin compared to 12.6% last year. EBIT margin improved as well by 0.6%. Cash Flow Statement This acquisition influenced on the company's cash flow significantly. The company had around $1B in cash, As of October 2015 the company had $114M in cash though. The company showed a positive trend in Net Working Capital. As of October 2015 AAP had around $953M net working capital compared to $895M last year. The reason for that was a significant improvement in inventories and total receivables. In 2014 the company significantly increased its total receivables, got rid of cash, improved its inventories and all these facts caused a significant increase not only in Net Working Capital, but also changed the situation with Free Cash Flow. The company had a negative FCFF in 2014 due to the deal (around -$160M), but as for October 2015 the company had more than $600M which is almost two times higher than before the deal. As for me, the company seems to be very attractive in terms financials. I will probably check the multiples later, but I consider buying this stock so far. Synergy with General Parts International is obvious, AAP management is doing the brilliant job.