Snap-on (SNA) FY2011 results: revenue $3.0 billion, up 11.1% on the year
Snap-on Inc. (SNA) reported revenue of $3.0 billion for fiscal 2011, the year ended 31 December 2011, up 11.1% on the year before. Net income was $276 million, up 48.2%, and diluted earnings per share $4.71. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2012.
Revenue
$3.0 billion
+11.1% on the year
FY2008FY2011
Operating margin
16.0%
12.4% a year earlier
FY2008FY2011
Net income
$276 million
+48.2% on the year
FY2008FY2011
Diluted EPS
$4.71
+47.6% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
2,978
2,682
2,421
+11.1%
Cost of revenue
1,516
1,408
1,305
+7.7%
Research and development
41.2
38.1
36.7
+8.1%
Operating income
475
331
251
+43.4%
Operating margin
16.0%
12.4%
10.4%
Interest expense
61.2
54.8
47.7
+11.7%
Pre-tax income
413
277
205
+48.8%
Income tax
134
87.6
62.7
+52.6%
Effective tax rate
32.4%
31.6%
30.5%
Net income
276
186
134
+48.2%
Net margin
9.3%
7.0%
5.5%
Diluted EPS
$4.71
$3.19
$2.32
+47.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
128
140
347
-8.5%
Capital expenditure
61.2
51.1
64.4
+19.8%
Free cash flow
67.3
89.3
283
-24.6%
Free cash flow margin
2.3%
3.3%
11.7%
Cash from investing
-220
-303
-242
Cash from financing
-294
34.8
476
Depreciation and amortisation
74.6
72.7
74.6
+2.6%
Share-based compensation
20.3
14.9
-3.0
+36.2%
Buybacks
37.4
8.7
n/a
+329.9%
Dividends paid
76.7
71.3
69.0
+7.6%
Dividend per share
$1.30
$1.22
$1.20
+6.6%
Diluted shares, weighted
59m
58m
58m
+0.5%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,531
1,388
1,290
+10.3%
Non-controlling interest
16.4
15.9
15.6
+3.1%
Debt
984
1,171
902
-15.9%
Other liabilities
1,142
1,154
1,240
-1.1%
Total liabilities and equity
3,673
3,729
3,447
-1.5%
Fixed assets
353
344
348
+2.6%
Goodwill
796
798
814
-0.3%
Intangible assets
188
193
206
-2.3%
Cash and equivalents
186
572
699
-67.6%
Receivables
464
443
414
+4.6%
Inventory
386
329
275
+17.3%
Other assets
1,300
1,049
691
+23.9%
Total assets
3,673
3,729
3,447
-1.5%
10-K for the year ended 31 December 2011, filed 16 February 2012: the filing.