Stanley Black & Decker (SWK) FY2018 results: revenue $14.0 billion, up 7.8% on the year
Stanley Black & Decker, Inc. (SWK) reported revenue of $14.0 billion for fiscal 2018, the year ended 29 December 2018, up 7.8% on the year before. Net income was $605 million, down 50.6%, and diluted earnings per share $3.99. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$14.0 billion
+7.8% on the year
FY2011FY2018
Operating margin
13.5%
15.4% a year earlier
FY2011FY2018
Net income
$605 million
-50.6% on the year
FY2011FY2018
Diluted EPS
$3.99
-50.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
13,982
12,967
11,594
+7.8%
Cost of revenue
9,131
8,188
7,326
+11.5%
Gross profit
4,851
4,778
4,267
+1.5%
Gross margin
34.7%
36.8%
36.8%
Research and development
276
252
204
+9.3%
Selling, general and administrative
3,144
2,983
2,609
+5.4%
Operating income
1,882
1,996
1,826
-5.7%
Operating margin
13.5%
15.4%
15.8%
Interest expense
278
223
194
+24.8%
Pre-tax income
1,022
1,526
1,229
-33.0%
Income tax
416
300
261
+38.5%
Effective tax rate
40.7%
19.7%
21.2%
Net income
605
1,226
968
-50.6%
Net margin
4.3%
9.5%
8.3%
Diluted EPS
$3.99
$8.04
$6.53
-50.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,261
668
1,186
+88.6%
Capital expenditure
492
442
347
+11.2%
Free cash flow
769
226
838
+240.0%
Free cash flow margin
5.5%
1.7%
7.2%
Cash from investing
-989
-1,567
61.1
Cash from financing
-562
295
-433
Depreciation and amortisation
331
297
264
+11.6%
Share-based compensation
76.5
78.7
81.2
-2.8%
Buybacks
527
28.7
374
+1,736.6%
Dividends paid
385
363
331
+6.1%
Dividend per share
$2.58
$2.42
$2.26
+6.6%
Diluted shares, weighted
152m
152m
148m
-0.5%
Shares outstanding at period end
151m
154m
153m
-1.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
7,836
8,297
6,367
-5.6%
Non-controlling interest
3.7
2.8
6.6
+32.1%
Short-term borrowings
n/a
5.3
4.3
Debt
4,198
3,806
3,823
+10.3%
Other liabilities
7,370
6,969
5,434
+5.7%
Total liabilities and equity
19,408
19,080
15,635
+1.7%
Fixed assets
1,915
1,742
1,451
+9.9%
Goodwill
8,957
8,776
6,694
+2.1%
Intangible assets
3,484
3,507
2,300
-0.7%
Cash and equivalents
289
638
1,132
-54.7%
Inventory
2,374
2,018
1,478
+17.6%
Other assets
2,390
2,398
2,580
-0.4%
Total assets
19,408
19,080
15,635
+1.7%
10-K for the year ended 29 December 2018, filed 26 February 2019: the filing.