Stanley Black & Decker (SWK) FY2012 results: revenue $10.0 billion, up 6.9% on the year
Stanley Black & Decker, Inc. (SWK) reported revenue of $10.0 billion for fiscal 2012, the year ended 29 December 2012, up 6.9% on the year before. Net income was $884 million, up 31.0%, and diluted earnings per share $5.30. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2013.
Revenue
$10.0 billion
+6.9% on the year
FY2008FY2012
Operating margin
14.3%
14.3% a year earlier
FY2008FY2012
Net income
$884 million
+31.0% on the year
FY2008FY2012
Diluted EPS
$5.30
+33.5% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
10,022
9,376
7,497
+6.9%
Cost of revenue
6,365
5,926
4,807
+7.4%
Gross profit
3,657
3,451
2,690
+6.0%
Gross margin
36.5%
36.8%
35.9%
Research and development
151
139
124
+8.7%
Selling, general and administrative
2,462
2,342
1,994
+5.1%
Operating income
1,436
1,338
931
+7.3%
Operating margin
14.3%
14.3%
12.4%
Interest expense
144
140
110
+2.8%
Pre-tax income
533
659
169
-19.1%
Income tax
75.8
52.3
18.0
+44.9%
Effective tax rate
14.2%
7.9%
10.7%
Net income
884
675
198
+31.0%
Net margin
8.8%
7.2%
2.6%
Diluted EPS
$5.30
$3.97
$1.32
+33.5%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
966
999
739
-3.3%
Capital expenditure
373
302
186
+23.4%
Free cash flow
593
697
554
-14.9%
Free cash flow margin
5.9%
7.4%
7.4%
Cash from investing
183
-1,464
270
Cash from financing
-1,337
-372
314
Depreciation and amortisation
238
228
203
+4.1%
Share-based compensation
89.7
68.9
85.1
+30.2%
Buybacks
1,074
11.1
4.9
+9,574.8%
Dividends paid
304
276
202
+10.2%
Dividend per share
$1.80
$1.64
$1.34
+9.8%
Diluted shares, weighted
167m
170m
150m
-2.0%
Shares outstanding at period end
160m
169m
166m
-5.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
6,667
7,004
7,017
-4.8%
Non-controlling interest
60.0
63.2
52.7
-5.1%
Short-term borrowings
1.1
0.2
1.6
+450.0%
Debt
3,537
3,452
3,434
+2.5%
Other liabilities
5,579
5,430
5,444
+2.7%
Total liabilities and equity
15,844
15,949
15,949
-0.7%
Fixed assets
1,325
1,140
1,061
+16.2%
Goodwill
7,021
6,438
5,942
+9.1%
Intangible assets
2,934
3,117
n/a
-5.9%
Cash and equivalents
716
907
1,745
-21.0%
Inventory
1,305
1,271
1,262
+2.7%
Other assets
2,543
3,076
5,938
-17.3%
Total assets
15,844
15,949
15,949
-0.7%
10-K for the year ended 29 December 2012, filed 20 February 2013: the filing.