Snap-on (SNA) FY2016 results: revenue $3.7 billion, up 3.3% on the year
Snap-on Inc. (SNA) reported revenue of $3.7 billion for fiscal 2016, the year ended 31 December 2016, up 3.3% on the year before. Net income was $546 million, up 14.1%, and diluted earnings per share $9.20. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2017.
Revenue
$3.7 billion
+3.3% on the year
FY2009FY2016
Operating margin
23.2%
21.3% a year earlier
FY2009FY2016
Net income
$546 million
+14.1% on the year
FY2009FY2016
Diluted EPS
$9.20
+13.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,712
3,593
3,493
+3.3%
Cost of revenue
1,721
1,704
1,693
+1.0%
Research and development
53.4
49.3
52.4
+8.3%
Operating income
861
765
685
+12.6%
Operating margin
23.2%
21.3%
19.6%
Interest expense
52.2
51.9
52.9
+0.6%
Pre-tax income
801
710
631
+12.8%
Income tax
244
221
200
+10.4%
Effective tax rate
30.5%
31.1%
31.6%
Net income
546
479
422
+14.1%
Net margin
14.7%
13.3%
12.1%
Diluted EPS
$9.20
$8.10
$7.14
+13.6%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
576
n/a
403
Capital expenditure
74.3
80.4
80.6
-7.6%
Free cash flow
502
n/a
322
Free cash flow margin
13.5%
n/a
9.2%
Cash from investing
-473
n/a
n/a
Cash from financing
-116
n/a
n/a
Depreciation and amortisation
85.6
82.5
79.5
+3.8%
Share-based compensation
31.0
39.8
38.1
-22.1%
Buybacks
120
110
79.3
+9.1%
Dividends paid
148
128
108
+15.3%
Dividend per share
$2.54
$2.20
$1.85
+15.5%
Diluted shares, weighted
59m
59m
59m
+0.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,617
2,413
2,208
+8.5%
Non-controlling interest
18.0
18.0
17.5
0.0%
Debt
1,010
880
919
+14.8%
Other liabilities
1,078
1,020
1,166
+5.6%
Total liabilities and equity
4,723
4,331
4,310
+9.1%
Fixed assets
425
414
404
+2.8%
Goodwill
896
790
811
+13.3%
Intangible assets
185
195
203
-5.3%
Cash and equivalents
77.6
92.8
133
-16.4%
Receivables
599
562
551
+6.5%
Inventory
530
498
476
+6.6%
Other assets
2,011
1,779
1,732
+13.0%
Total assets
4,723
4,331
4,310
+9.1%
10-K for the year ended 31 December 2016, filed 9 February 2017: the filing.