Snap-on (SNA) FY2018 results: revenue $4.1 billion, up 1.8% on the year
Snap-on Inc. (SNA) reported revenue of $4.1 billion for fiscal 2018, the year ended 29 December 2018, up 1.8% on the year before. Net income was $680 million, up 21.9%, and diluted earnings per share $11.87. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$4.1 billion
+1.8% on the year
FY2011FY2018
Operating margin
23.5%
22.0% a year earlier
FY2011FY2018
Net income
$680 million
+21.9% on the year
FY2011FY2018
Diluted EPS
$11.87
+24.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
4,070
4,000
3,712
+1.8%
Cost of revenue
n/a
1,862
1,721
Research and development
61.2
60.9
53.4
+0.5%
Operating income
956
882
861
+8.5%
Operating margin
23.5%
22.0%
23.2%
Interest expense
50.4
52.4
52.2
-3.8%
Pre-tax income
910
822
801
+10.7%
Income tax
214
251
244
-14.5%
Effective tax rate
23.6%
30.5%
30.5%
Net income
680
558
546
+21.9%
Net margin
16.7%
13.9%
14.7%
Diluted EPS
$11.87
$9.52
$9.20
+24.7%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
764
608
576
+25.6%
Capital expenditure
90.9
82.0
74.3
+10.9%
Free cash flow
674
526
502
+27.9%
Free cash flow margin
16.5%
13.2%
13.5%
Cash from investing
-210
-341
-473
Cash from financing
-502
-256
-116
Depreciation and amortisation
94.1
93.2
85.6
+1.0%
Share-based compensation
27.2
30.3
31.0
-10.2%
Buybacks
284
288
120
-1.3%
Dividends paid
192
169
148
+13.3%
Dividend per share
$3.41
$2.95
$2.54
+15.6%
Diluted shares, weighted
57m
59m
59m
-2.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,099
2,954
2,617
+4.9%
Non-controlling interest
19.8
18.4
18.0
+7.6%
Debt
1,132
1,187
1,010
-4.6%
Operating lease liabilities
0.0
n/a
n/a
Finance lease liabilities
6.6
n/a
n/a
Other liabilities
1,116
1,090
1,078
+2.3%
Total liabilities and equity
5,373
5,249
4,723
+2.4%
Fixed assets
495
484
425
+2.2%
Goodwill
902
924
896
-2.4%
Intangible assets
233
254
185
-8.2%
Cash and equivalents
141
92.0
77.6
+53.2%
Receivables
693
676
599
+2.5%
Inventory
674
639
530
+5.5%
Other assets
2,236
2,180
2,011
+2.5%
Total assets
5,373
5,249
4,723
+2.4%
10-K for the year ended 29 December 2018, filed 14 February 2019: the filing.