Snap-on (SNA) FY2017 results: revenue $4.0 billion, up 7.8% on the year
Snap-on Inc. (SNA) reported revenue of $4.0 billion for fiscal 2017, the year ended 30 December 2017, up 7.8% on the year before. Net income was $558 million, up 2.1%, and diluted earnings per share $9.52. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2018.
Revenue
$4.0 billion
+7.8% on the year
FY2010FY2017
Operating margin
22.0%
23.2% a year earlier
FY2010FY2017
Net income
$558 million
+2.1% on the year
FY2010FY2017
Diluted EPS
$9.52
+3.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
4,000
3,712
3,593
+7.8%
Cost of revenue
1,862
1,721
1,704
+8.2%
Research and development
60.9
53.4
49.3
+14.0%
Operating income
882
861
765
+2.4%
Operating margin
22.0%
23.2%
21.3%
Interest expense
52.4
52.2
51.9
+0.4%
Pre-tax income
822
801
710
+2.6%
Income tax
251
244
221
+2.7%
Effective tax rate
30.5%
30.5%
31.1%
Net income
558
546
479
+2.1%
Net margin
13.9%
14.7%
13.3%
Diluted EPS
$9.52
$9.20
$8.10
+3.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
608
576
n/a
+5.6%
Capital expenditure
82.0
74.3
80.4
+10.4%
Free cash flow
526
502
n/a
+4.9%
Free cash flow margin
13.2%
13.5%
n/a
Cash from investing
-341
-473
n/a
Cash from financing
-256
-116
n/a
Depreciation and amortisation
93.2
85.6
82.5
+8.9%
Share-based compensation
30.3
31.0
39.8
-2.3%
Buybacks
288
120
110
+139.1%
Dividends paid
169
148
128
+14.8%
Dividend per share
$2.95
$2.54
$2.20
+16.1%
Diluted shares, weighted
59m
59m
59m
-1.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,954
2,617
2,413
+12.9%
Non-controlling interest
18.4
18.0
18.0
+2.2%
Debt
1,187
1,010
880
+17.5%
Other liabilities
1,090
1,078
1,020
+1.1%
Total liabilities and equity
5,249
4,723
4,331
+11.1%
Fixed assets
484
425
414
+13.9%
Goodwill
924
896
790
+3.2%
Intangible assets
254
185
195
+37.4%
Cash and equivalents
92.0
77.6
92.8
+18.6%
Receivables
676
599
562
+12.8%
Inventory
639
530
498
+20.4%
Other assets
2,180
2,011
1,779
+8.4%
Total assets
5,249
4,723
4,331
+11.1%
10-K for the year ended 30 December 2017, filed 15 February 2018: the filing.