Stanley Black & Decker (SWK) FY2019 results: revenue $12.9 billion, down 7.6% on the year
Stanley Black & Decker, Inc. (SWK) reported revenue of $12.9 billion for fiscal 2019, the year ended 28 December 2019, down 7.6% on the year before. Net income was $956 million, up 57.9%, and diluted earnings per share $6.35. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$12.9 billion
-7.6% on the year
FY2012FY2019
Operating margin
15.4%
13.5% a year earlier
FY2012FY2019
Net income
$956 million
+57.9% on the year
FY2012FY2019
Diluted EPS
$6.35
+59.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
12,913
13,982
12,967
-7.6%
Cost of revenue
8,680
9,131
8,188
-4.9%
Gross profit
4,233
4,851
4,778
-12.7%
Gross margin
32.8%
34.7%
36.8%
Research and development
241
276
252
-12.7%
Selling, general and administrative
2,542
3,144
2,983
-19.1%
Operating income
1,994
1,882
1,996
+5.9%
Operating margin
15.4%
13.5%
15.4%
Interest expense
282
278
223
+1.5%
Pre-tax income
1,094
1,022
1,526
+7.1%
Income tax
127
416
300
-69.5%
Effective tax rate
11.6%
40.7%
19.7%
Net income
956
605
1,226
+57.9%
Net margin
7.4%
4.3%
9.5%
Diluted EPS
$6.35
$3.99
$8.04
+59.1%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,506
1,261
668
+19.4%
Capital expenditure
425
492
442
-13.7%
Free cash flow
1,081
769
226
+40.6%
Free cash flow margin
8.4%
5.5%
1.7%
Cash from investing
-1,209
-989
-1,567
Cash from financing
-292
-562
295
Depreciation and amortisation
560
331
297
+69.1%
Share-based compensation
88.8
76.5
78.7
+16.1%
Buybacks
27.5
527
28.7
-94.8%
Dividends paid
402
385
363
+4.4%
Dividend per share
$2.70
$2.58
$2.42
+4.7%
Diluted shares, weighted
151m
152m
152m
-0.7%
Shares outstanding at period end
154m
151m
154m
+1.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
9,136
7,836
8,297
+16.6%
Non-controlling interest
5.9
3.7
2.8
+59.5%
Short-term borrowings
n/a
n/a
5.3
Debt
3,517
4,198
3,806
-16.2%
Other liabilities
7,938
7,370
6,969
+7.7%
Total liabilities and equity
20,597
19,408
19,080
+6.1%
Fixed assets
1,960
1,915
1,742
+2.3%
Goodwill
7,381
8,957
8,776
-17.6%
Intangible assets
3,622
3,484
3,507
+3.9%
Cash and equivalents
298
289
638
+3.1%
Inventory
2,255
2,374
2,018
-5.0%
Other assets
5,082
2,390
2,398
+112.7%
Total assets
20,597
19,408
19,080
+6.1%
10-K for the year ended 28 December 2019, filed 21 February 2020: the filing.