Stanley Black & Decker (SWK) FY2016 results: revenue $11.6 billion, up 3.8% on the year
Stanley Black & Decker, Inc. (SWK) reported revenue of $11.6 billion for fiscal 2016, the year ended 31 December 2016, up 3.8% on the year before. Net income was $968 million, up 9.5%, and diluted earnings per share $6.53. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$11.6 billion
+3.8% on the year
FY2009FY2016
Operating margin
15.8%
15.7% a year earlier
FY2009FY2016
Net income
$968 million
+9.5% on the year
FY2009FY2016
Diluted EPS
$6.53
+12.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
11,594
11,172
11,339
+3.8%
Cost of revenue
7,326
7,100
7,236
+3.2%
Gross profit
4,267
4,072
4,103
+4.8%
Gross margin
36.8%
36.4%
36.2%
Research and development
204
188
175
+8.7%
Selling, general and administrative
2,609
2,459
2,575
+6.1%
Operating income
1,826
1,750
1,684
+4.4%
Operating margin
15.8%
15.7%
14.9%
Interest expense
194
180
177
+7.8%
Pre-tax income
1,229
1,151
1,085
+6.8%
Income tax
261
249
227
+5.1%
Effective tax rate
21.2%
21.6%
20.9%
Net income
968
884
761
+9.5%
Net margin
8.3%
7.9%
6.7%
Diluted EPS
$6.53
$5.79
$4.76
+12.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,186
1,182
1,296
+0.3%
Capital expenditure
347
311
291
+11.4%
Free cash flow
838
871
1,005
-3.7%
Free cash flow margin
7.2%
7.8%
8.9%
Cash from investing
61.1
-205
-382
Cash from financing
-433
-876
-766
Depreciation and amortisation
264
257
263
+2.6%
Share-based compensation
81.2
67.9
57.1
+19.6%
Buybacks
374
650
28.2
-42.4%
Dividends paid
331
320
321
+3.4%
Dividend per share
$2.26
$2.14
$2.04
+5.6%
Diluted shares, weighted
148m
153m
160m
-2.9%
Shares outstanding at period end
153m
154m
157m
-0.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,367
5,812
6,429
+9.6%
Non-controlling interest
6.6
47.6
82.8
-86.1%
Short-term borrowings
4.3
2.5
1.6
+72.0%
Debt
3,823
3,842
3,846
-0.5%
Other liabilities
5,434
5,424
5,444
+0.2%
Total liabilities and equity
15,635
15,128
15,803
+3.4%
Fixed assets
1,451
1,450
1,454
+0.1%
Goodwill
6,694
7,084
7,276
-5.5%
Intangible assets
2,300
2,542
2,752
-9.5%
Cash and equivalents
1,132
465
497
+143.2%
Inventory
1,478
1,526
1,563
-3.2%
Other assets
2,580
2,060
2,263
+25.3%
Total assets
15,635
15,128
15,803
+3.4%
10-K for the year ended 31 December 2016, filed 26 February 2019: the filing.