Snap-on (SNA) FY2013 results: revenue $3.2 billion, up 4.5% on the year
Snap-on Inc. (SNA) reported revenue of $3.2 billion for fiscal 2013, the year ended 28 December 2013, up 4.5% on the year before. Net income was $350 million, up 14.4%, and diluted earnings per share $5.93. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$3.2 billion
+4.5% on the year
FY2008FY2013
Operating margin
18.1%
16.7% a year earlier
FY2008FY2013
Net income
$350 million
+14.4% on the year
FY2008FY2013
Diluted EPS
$5.93
+14.0% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
3,238
3,099
2,978
+4.5%
Cost of revenue
1,584
1,548
1,516
+2.3%
Research and development
48.4
44.8
41.2
+8.0%
Operating income
586
516
475
+13.5%
Operating margin
18.1%
16.7%
16.0%
Interest expense
56.1
55.8
61.2
+0.5%
Pre-tax income
526
460
413
+14.3%
Income tax
167
148
134
+12.5%
Effective tax rate
31.7%
32.2%
32.4%
Net income
350
306
276
+14.4%
Net margin
10.8%
9.9%
9.3%
Diluted EPS
$5.93
$5.20
$4.71
+14.0%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
393
329
128
+19.2%
Capital expenditure
70.6
79.4
61.2
-11.1%
Free cash flow
322
250
67.3
+28.9%
Free cash flow margin
9.9%
8.1%
2.3%
Cash from investing
-250
-173
-220
Cash from financing
-138
-127
-294
Depreciation and amortisation
76.7
76.7
74.6
0.0%
Share-based compensation
38.5
32.1
20.3
+19.9%
Buybacks
82.6
78.1
37.4
+5.8%
Dividends paid
92.0
81.5
76.7
+12.9%
Dividend per share
$1.58
$1.40
$1.30
+12.9%
Diluted shares, weighted
59m
59m
59m
+0.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,113
1,802
1,531
+17.3%
Non-controlling interest
17.2
16.9
16.4
+1.8%
Debt
972
976
984
-0.4%
Other liabilities
1,008
1,108
1,142
-9.0%
Total liabilities and equity
4,110
3,902
3,673
+5.3%
Fixed assets
392
375
353
+4.6%
Goodwill
839
807
796
+3.9%
Intangible assets
190
187
188
+1.8%
Cash and equivalents
218
214
186
+1.4%
Receivables
532
498
464
+6.8%
Inventory
434
404
386
+7.5%
Other assets
1,505
1,416
1,300
+6.3%
Total assets
4,110
3,902
3,673
+5.3%
10-K for the year ended 28 December 2013, filed 14 February 2014: the filing.