Snap-on (SNA) FY2019 results: revenue $4.1 billion, down 0.1% on the year
Snap-on Inc. (SNA) reported revenue of $4.1 billion for fiscal 2019, the year ended 28 December 2019, down 0.1% on the year before. Net income was $694 million, up 2.0%, and diluted earnings per share $12.41. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$4.1 billion
-0.1% on the year
FY2012FY2019
Operating margin
23.7%
23.5% a year earlier
FY2012FY2019
Net income
$694 million
+2.0% on the year
FY2012FY2019
Diluted EPS
$12.41
+4.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,068
4,070
4,000
-0.1%
Cost of revenue
n/a
n/a
1,862
Research and development
59.1
61.2
60.9
-3.4%
Operating income
962
956
882
+0.6%
Operating margin
23.7%
23.5%
22.0%
Interest expense
49.0
50.4
52.4
-2.8%
Pre-tax income
922
910
822
+1.3%
Income tax
212
214
251
-1.2%
Effective tax rate
23.0%
23.6%
30.5%
Net income
694
680
558
+2.0%
Net margin
17.0%
16.7%
13.9%
Diluted EPS
$12.41
$11.87
$9.52
+4.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
675
764
608
-11.8%
Capital expenditure
99.4
90.9
82.0
+9.4%
Free cash flow
575
674
526
-14.6%
Free cash flow margin
14.1%
16.5%
13.2%
Cash from investing
-222
-210
-341
Cash from financing
-409
-502
-256
Depreciation and amortisation
92.4
94.1
93.2
-1.8%
Share-based compensation
23.8
27.2
30.3
-12.5%
Buybacks
238
284
288
-16.1%
Dividends paid
217
192
169
+12.8%
Dividend per share
$3.93
$3.41
$2.95
+15.2%
Diluted shares, weighted
56m
57m
59m
-2.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,409
3,099
2,954
+10.0%
Non-controlling interest
21.7
19.8
18.4
+9.6%
Debt
1,150
1,132
1,187
+1.5%
Operating lease liabilities
37.5
0.0
n/a
Finance lease liabilities
10.0
6.6
n/a
+51.5%
Other liabilities
1,065
1,116
1,090
-4.5%
Total liabilities and equity
5,694
5,373
5,249
+6.0%
Fixed assets
n/a
495
484
Goodwill
914
902
924
+1.3%
Intangible assets
244
233
254
+4.7%
Cash and equivalents
184
141
92.0
+30.9%
Receivables
695
693
676
+0.3%
Inventory
760
674
639
+12.9%
Other assets
2,896
2,236
2,180
+29.6%
Total assets
5,694
5,373
5,249
+6.0%
10-K for the year ended 28 December 2019, filed 13 February 2020: the filing.