Snap-on (SNA) FY2023 results: revenue $5.1 billion, up 5.5% on the year
Snap-on Inc. (SNA) reported revenue of $5.1 billion for fiscal 2023, the year ended 30 December 2023, up 5.5% on the year before. Net income was $1.0 billion, up 10.9%, and diluted earnings per share $18.76. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$5.1 billion
+5.5% on the year
FY2016FY2023
Operating margin
25.7%
24.9% a year earlier
FY2016FY2023
Net income
$1.0 billion
+10.9% on the year
FY2016FY2023
Diluted EPS
$18.76
+11.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,154
675
967
+70.9%
Capital expenditure
95.0
84.2
70.1
+12.8%
Free cash flow
1,059
591
896
+79.2%
Free cash flow margin
20.7%
12.2%
19.5%
Cash from investing
-332
-206
-290
Cash from financing
-573
-485
-819
Depreciation and amortisation
99.3
100
105
-0.9%
Share-based compensation
44.7
34.0
41.4
+31.5%
Buybacks
295
198
431
+48.8%
Dividends paid
356
313
276
+13.6%
Dividend per share
$6.72
$5.88
$5.11
+14.3%
Diluted shares, weighted
54m
54m
55m
-0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
5,071
4,481
4,182
+13.2%
Non-controlling interest
22.1
22.2
21.9
-0.5%
Debt
1,200
1,201
1,200
-0.1%
Operating lease liabilities
54.6
44.7
34.2
+22.1%
Finance lease liabilities
1.1
1.9
4.5
-42.1%
Other liabilities
1,196
1,222
1,317
-2.1%
Total liabilities and equity
7,545
6,973
6,760
+8.2%
Goodwill
1,097
1,045
1,116
+5.0%
Intangible assets
269
276
302
-2.4%
Cash and equivalents
1,002
757
780
+32.3%
Receivables
791
762
682
+3.9%
Inventory
1,006
1,033
804
-2.6%
Other assets
3,380
3,100
3,075
+9.0%
Total assets
7,545
6,973
6,760
+8.2%
10-K for the year ended 30 December 2023, filed 16 February 2024: the filing.