Stanley Black & Decker (SWK) FY2020 results: revenue $12.8 billion, down 1.3% on the year
Stanley Black & Decker, Inc. (SWK) reported revenue of $12.8 billion for fiscal 2020, the year ended 2 January 2021, down 1.3% on the year before. Net income was $1.2 billion, up 29.1%, and diluted earnings per share $7.77. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$12.8 billion
-1.3% on the year
FY2013FY2020
Operating margin
17.1%
15.4% a year earlier
FY2013FY2020
Net income
$1.2 billion
+29.1% on the year
FY2013FY2020
Diluted EPS
$7.77
+22.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
12,750
12,913
13,982
-1.3%
Cost of revenue
8,432
8,680
9,131
-2.9%
Gross profit
4,318
4,233
4,851
+2.0%
Gross margin
33.9%
32.8%
34.7%
Research and development
200
241
276
-16.9%
Selling, general and administrative
2,555
2,542
3,144
+0.5%
Operating income
2,176
1,994
1,882
+9.1%
Operating margin
17.1%
15.4%
13.5%
Interest expense
223
282
278
-20.9%
Pre-tax income
1,184
1,094
1,022
+8.2%
Income tax
38.0
127
416
-70.0%
Effective tax rate
3.2%
11.6%
40.7%
Net income
1,234
956
605
+29.1%
Net margin
9.7%
7.4%
4.3%
Diluted EPS
$7.77
$6.35
$3.99
+22.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,022
1,506
1,261
+34.3%
Capital expenditure
348
425
492
-18.0%
Free cash flow
1,674
1,081
769
+54.9%
Free cash flow margin
13.1%
8.4%
5.5%
Cash from investing
-1,577
-1,209
-989
Cash from financing
616
-292
-562
Depreciation and amortisation
376
560
331
-32.8%
Share-based compensation
109
88.8
76.5
+22.9%
Buybacks
26.2
27.5
527
-4.7%
Dividends paid
432
402
385
+7.4%
Dividend per share
$2.78
$2.70
$2.58
+3.0%
Diluted shares, weighted
156m
151m
152m
+3.5%
Shares outstanding at period end
161m
154m
151m
+4.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
11,060
9,136
7,836
+21.1%
Non-controlling interest
6.8
5.9
3.7
+15.3%
Short-term borrowings
1.5
n/a
n/a
Debt
4,245
3,517
4,198
+20.7%
Other liabilities
8,253
7,938
7,370
+4.0%
Total liabilities and equity
23,566
20,597
19,408
+14.4%
Fixed assets
1,973
1,960
1,915
+0.7%
Goodwill
7,893
7,381
8,957
+6.9%
Intangible assets
4,055
3,622
3,484
+12.0%
Cash and equivalents
1,242
298
289
+317.2%
Inventory
2,639
2,255
2,374
+17.0%
Other assets
5,764
5,082
2,390
+13.4%
Total assets
23,566
20,597
19,408
+14.4%
10-K for the year ended 2 January 2021, filed 18 February 2021: the filing.