Snap-on (SNA) FY2014 results: revenue $3.5 billion, up 7.9% on the year
Snap-on Inc. (SNA) reported revenue of $3.5 billion for fiscal 2014, the year ended 3 January 2015, up 7.9% on the year before. Net income was $422 million, up 20.4%, and diluted earnings per share $7.14. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2015.
Revenue
$3.5 billion
+7.9% on the year
FY2008FY2014
Operating margin
19.6%
18.1% a year earlier
FY2008FY2014
Net income
$422 million
+20.4% on the year
FY2008FY2014
Diluted EPS
$7.14
+20.4% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
3,493
3,238
3,099
+7.9%
Cost of revenue
1,693
1,584
1,548
+6.9%
Research and development
52.4
48.4
44.8
+8.3%
Operating income
685
586
516
+16.8%
Operating margin
19.6%
18.1%
16.7%
Interest expense
52.9
56.1
55.8
-5.7%
Pre-tax income
631
526
460
+19.9%
Income tax
200
167
148
+19.7%
Effective tax rate
31.6%
31.7%
32.2%
Net income
422
350
306
+20.4%
Net margin
12.1%
10.8%
9.9%
Diluted EPS
$7.14
$5.93
$5.20
+20.4%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
403
393
329
+2.7%
Capital expenditure
80.6
70.6
79.4
+14.2%
Free cash flow
322
322
250
+0.2%
Free cash flow margin
9.2%
9.9%
8.1%
Cash from investing
n/a
-250
-173
Cash from financing
n/a
-138
-127
Depreciation and amortisation
79.5
76.7
76.7
+3.7%
Share-based compensation
38.1
38.5
32.1
-1.0%
Buybacks
79.3
82.6
78.1
-4.0%
Dividends paid
108
92.0
81.5
+17.0%
Dividend per share
$1.85
$1.58
$1.40
+17.1%
Diluted shares, weighted
59m
59m
59m
0.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,208
2,113
1,802
+4.5%
Non-controlling interest
17.5
17.2
16.9
+1.7%
Debt
919
972
976
-5.4%
Other liabilities
1,166
1,008
1,108
+15.7%
Total liabilities and equity
4,310
4,110
3,902
+4.9%
Fixed assets
404
392
375
+3.1%
Goodwill
811
839
807
-3.4%
Intangible assets
203
190
187
+6.7%
Cash and equivalents
133
218
214
-38.9%
Receivables
551
532
498
+3.6%
Inventory
476
434
404
+9.5%
Other assets
1,732
1,505
1,416
+15.1%
Total assets
4,310
4,110
3,902
+4.9%
10-K for the year ended 3 January 2015, filed 12 February 2015: the filing.