Stanley Black & Decker (SWK) FY2024 results: revenue $15.4 billion, down 2.6% on the year

Stanley Black & Decker, Inc. (SWK) reported revenue of $15.4 billion for fiscal 2024, the year ended 28 December 2024, down 2.6% on the year before. Net income was $294 million, and diluted earnings per share $1.95. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2025.

Revenue

$15.4 billion

-2.6% on the year

FY2017FY2024

Operating margin

1.6%

-2.4% a year earlier

FY2017FY2024

Net income

$294 million

FY2017FY2024

Diluted EPS

$1.95

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	15,366	15,781	16,947	-2.6%
Cost of revenue	10,851	11,848	12,663	-8.4%
Gross profit	4,514	3,933	4,284	+14.8%
Gross margin	29.4%	24.9%	25.3%
Research and development	329	362	357	-9.2%
Selling, general and administrative	3,310	3,282	3,356	+0.9%
Operating income	241	-376	37.9
Operating margin	1.6%	-2.4%	0.2%
Interest expense	499	559	338	-10.9%
Pre-tax income	241	-376	37.9
Income tax	-45.2	-94.0	-132
Effective tax rate	-18.7%	n/a	-349.3%
Net income	294	-310	1,062
Net margin	1.9%	-2.0%	6.3%
Diluted EPS	$1.95	-$2.07	$6.76

$ million except per share.

Free 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	1,107	1,191	-1,460	-7.1%
Capital expenditure	354	339	530	+4.5%
Free cash flow	753	853	-1,990	-11.7%
Free cash flow margin	4.9%	5.4%	-11.7%
Cash from investing	394	-328	3,573
Cash from financing	-1,557	-816	-1,971
Depreciation and amortisation	426	432	370	-1.4%
Share-based compensation	105	83.8	90.7	+25.8%
Buybacks	17.7	16.1	2,323	+9.9%
Dividends paid	491	483	466	+1.8%
Dividend per share	$3.26	$3.22	$3.18	+1.2%
Diluted shares, weighted	151m	150m	157m	+1.0%
Shares outstanding at period end	154m	154m	153m	+0.5%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	8,720	9,056	9,712	-3.7%
Non-controlling interest	n/a	0.0	2.1
Short-term borrowings	0.0	n/a	n/a
Debt	6,103	7,177	7,457	-15.0%
Other liabilities	7,026	7,431	7,792	-5.4%
Total liabilities and equity	21,849	23,664	24,963	-7.7%
Fixed assets	2,034	2,170	2,353	-6.2%
Goodwill	7,906	7,996	8,503	-1.1%
Cash and equivalents	290	449	396	-35.4%
Inventory	4,536	4,739	5,861	-4.3%
Other assets	7,082	8,310	7,851	-14.8%
Total assets	21,849	23,664	24,963	-7.7%

10-K for the year ended 28 December 2024, filed 18 February 2025: the filing.