Stanley Black & Decker (SWK) FY2014 results: revenue $11.3 billion, up 4.1% on the year
Stanley Black & Decker, Inc. (SWK) reported revenue of $11.3 billion for fiscal 2014, the year ended 3 January 2015, up 4.1% on the year before. Net income was $761 million, up 55.2%, and diluted earnings per share $4.76. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2015.
Revenue
$11.3 billion
+4.1% on the year
FY2008FY2014
Operating margin
14.9%
13.5% a year earlier
FY2008FY2014
Net income
$761 million
+55.2% on the year
FY2008FY2014
Diluted EPS
$4.76
+54.0% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
11,339
10,890
10,022
+4.1%
Cost of revenue
7,236
6,986
6,365
+3.6%
Gross profit
4,103
3,904
3,657
+5.1%
Gross margin
36.2%
35.8%
36.5%
Research and development
175
171
151
+2.3%
Selling, general and administrative
2,575
2,676
2,462
-3.8%
Operating income
1,684
1,467
1,436
+14.8%
Operating margin
14.9%
13.5%
14.3%
Interest expense
177
160
144
+10.5%
Pre-tax income
1,085
587
533
+84.9%
Income tax
227
68.6
75.8
+231.0%
Effective tax rate
20.9%
11.7%
14.2%
Net income
761
490
884
+55.2%
Net margin
6.7%
4.5%
8.8%
Diluted EPS
$4.76
$3.09
$5.30
+54.0%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,296
868
966
+49.3%
Capital expenditure
291
340
373
-14.5%
Free cash flow
1,005
528
593
+90.4%
Free cash flow margin
8.9%
4.8%
5.9%
Cash from investing
-382
-1,198
183
Cash from financing
-766
156
-1,337
Depreciation and amortisation
263
238
238
+10.7%
Share-based compensation
57.1
66.4
89.7
-14.0%
Buybacks
28.2
39.2
1,074
-28.1%
Dividends paid
321
313
304
+2.8%
Dividend per share
$2.04
$0.00
$1.80
Diluted shares, weighted
160m
159m
167m
+0.6%
Shares outstanding at period end
157m
155m
160m
+1.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
6,429
6,799
6,667
-5.4%
Non-controlling interest
82.8
81.3
60.0
+1.8%
Short-term borrowings
1.6
n/a
1.1
Debt
3,846
4,202
3,537
-8.5%
Other liabilities
5,444
5,453
5,579
-0.2%
Total liabilities and equity
15,803
16,535
15,844
-4.4%
Fixed assets
1,454
1,479
1,325
-1.7%
Goodwill
7,276
7,565
7,021
-3.8%
Intangible assets
2,752
3,068
2,934
-10.3%
Cash and equivalents
497
496
716
+0.1%
Inventory
1,563
1,473
1,305
+6.1%
Other assets
2,263
2,454
2,543
-7.8%
Total assets
15,803
16,535
15,844
-4.4%
10-K for the year ended 3 January 2015, filed 19 February 2015: the filing.