Snap-on (SNA) FY2020 results: revenue $3.9 billion, down 3.1% on the year
Snap-on Inc. (SNA) reported revenue of $3.9 billion for fiscal 2020, the year ended 2 January 2021, down 3.1% on the year before. Net income was $627 million, down 9.6%, and diluted earnings per share $11.44. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$3.9 billion
-3.1% on the year
FY2013FY2020
Operating margin
22.3%
23.7% a year earlier
FY2013FY2020
Net income
$627 million
-9.6% on the year
FY2013FY2020
Diluted EPS
$11.44
-7.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,942
4,068
4,070
-3.1%
Research and development
57.4
59.1
61.2
-2.9%
Operating income
880
962
956
-8.5%
Operating margin
22.3%
23.7%
23.5%
Interest expense
54.0
49.0
50.4
+10.2%
Pre-tax income
835
922
910
-9.4%
Income tax
189
212
214
-10.7%
Effective tax rate
22.6%
23.0%
23.6%
Net income
627
694
680
-9.6%
Net margin
15.9%
17.0%
16.7%
Diluted EPS
$11.44
$12.41
$11.87
-7.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,009
675
764
+49.5%
Capital expenditure
65.6
99.4
90.9
-34.0%
Free cash flow
943
575
674
+63.9%
Free cash flow margin
23.9%
14.1%
16.5%
Cash from investing
-188
-222
-210
Cash from financing
-84.3
-409
-502
Depreciation and amortisation
96.7
92.4
94.1
+4.7%
Share-based compensation
19.5
23.8
27.2
-18.1%
Buybacks
174
238
284
-26.9%
Dividends paid
243
217
192
+12.3%
Dividend per share
$4.47
$3.93
$3.41
+13.7%
Diluted shares, weighted
55m
56m
57m
-2.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,825
3,409
3,099
+12.2%
Non-controlling interest
21.7
21.7
19.8
0.0%
Debt
1,451
1,150
1,132
+26.2%
Operating lease liabilities
34.0
37.5
0.0
-9.3%
Finance lease liabilities
7.4
10.0
6.6
-26.0%
Other liabilities
1,219
1,065
1,116
+14.4%
Total liabilities and equity
6,557
5,694
5,373
+15.2%
Fixed assets
n/a
n/a
495
Goodwill
982
914
902
+7.5%
Intangible assets
261
244
233
+6.9%
Cash and equivalents
923
184
141
+400.5%
Receivables
641
695
693
-7.8%
Inventory
746
760
674
-1.8%
Other assets
3,004
2,896
2,236
+3.7%
Total assets
6,557
5,694
5,373
+15.2%
10-K for the year ended 2 January 2021, filed 11 February 2021: the filing.