Stanley Black & Decker (SWK) FY2017 results: revenue $13.0 billion, up 11.8% on the year
Stanley Black & Decker, Inc. (SWK) reported revenue of $13.0 billion for fiscal 2017, the year ended 30 December 2017, up 11.8% on the year before. Net income was $1.2 billion, up 26.7%, and diluted earnings per share $8.04. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$13.0 billion
+11.8% on the year
FY2010FY2017
Operating margin
15.4%
15.8% a year earlier
FY2010FY2017
Net income
$1.2 billion
+26.7% on the year
FY2010FY2017
Diluted EPS
$8.04
+23.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
12,967
11,594
11,172
+11.8%
Cost of revenue
8,188
7,326
7,100
+11.8%
Gross profit
4,778
4,267
4,072
+12.0%
Gross margin
36.8%
36.8%
36.4%
Research and development
252
204
188
+23.4%
Selling, general and administrative
2,983
2,609
2,459
+14.3%
Operating income
1,996
1,826
1,750
+9.3%
Operating margin
15.4%
15.8%
15.7%
Interest expense
223
194
180
+14.4%
Pre-tax income
1,526
1,229
1,151
+24.1%
Income tax
300
261
249
+15.0%
Effective tax rate
19.7%
21.2%
21.6%
Net income
1,226
968
884
+26.7%
Net margin
9.5%
8.3%
7.9%
Diluted EPS
$8.04
$6.53
$5.79
+23.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
668
1,186
1,182
-43.6%
Capital expenditure
442
347
311
+27.5%
Free cash flow
226
838
871
-73.0%
Free cash flow margin
1.7%
7.2%
7.8%
Cash from investing
-1,567
61.1
-205
Cash from financing
295
-433
-876
Depreciation and amortisation
297
264
257
+12.6%
Share-based compensation
78.7
81.2
67.9
-3.1%
Buybacks
28.7
374
650
-92.3%
Dividends paid
363
331
320
+9.7%
Dividend per share
$2.42
$2.26
$2.14
+7.1%
Diluted shares, weighted
152m
148m
153m
+2.9%
Shares outstanding at period end
154m
153m
154m
+1.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
8,297
6,367
5,812
+30.3%
Non-controlling interest
2.8
6.6
47.6
-57.6%
Short-term borrowings
5.3
4.3
2.5
+23.3%
Debt
3,806
3,823
3,842
-0.5%
Other liabilities
6,969
5,434
5,424
+28.3%
Total liabilities and equity
19,080
15,635
15,128
+22.0%
Fixed assets
1,742
1,451
1,450
+20.1%
Goodwill
8,776
6,694
7,084
+31.1%
Intangible assets
3,507
2,300
2,542
+52.5%
Cash and equivalents
638
1,132
465
-43.7%
Inventory
2,018
1,478
1,526
+36.6%
Other assets
2,398
2,580
2,060
-7.1%
Total assets
19,080
15,635
15,128
+22.0%
10-K for the year ended 30 December 2017, filed 26 February 2019: the filing.