Snap-on Inc

Listed Company

SNACIK 0000091440NYSELarge AcceleratedCutlery, Handtools & General HardwareDelawareFY ends Jan 2

Period

FY 2025

Revenue

$5.16B

Net Income

$1.02B

Total Assets

$8.41B

Equity

$5.93B

Shares Out

51.80M

Op. Cash Flow

$1.08B

Business

Snap-on Inc is a global innovator, manufacturer and marketer of professional tools, equipment, diagnostics, repair information and systems solutions for users in vehicle repair, aerospace, military, natural resources and manufacturing. It offers hand and power tools, tool storage, diagnostics and diagnostic software, repair and shop management information systems, vehicle service equipment (lifts, wheel service, alignment), training, after-sales support and financing programs. The company reports through four operating segments: Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group and Financial Services. Products and services are sold worldwide—largest in the United States—through franchise mobile vans, direct sales, distributors and e-commerce.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	5,156	5,108	5,108	4,843	4,602
Operating earnings	1,328	1,346	1,310	1,207	1,124
Interest expense	−51	−50	−50	−47	—
Other income (expense) net	59	77	68	43	17
Earnings before income taxes	1,336	1,373	1,328	1,203	—
Income tax expense	−294	−304	−293	−269	−247
Net earnings	1,042	1,069	1,035	934	841
Net earnings attributable to noncontrolling interests	−25	−25	−24	−22	−21
Net earnings attributable to Snap-on Incorporated	1,017	1,044	1,011	912	821
Basic (in dollars per share)	19.52	19.85	19.11	17.14	15.22
Diluted (in dollars per share)	19.19	19.51	18.76	16.82	14.92
Basic (in shares)	52	53	53	53	54
Effect of dilutive securities (in shares)	900,000	900,000	1	1	1
Diluted (in shares)	53	54	54	54	55

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,625	1,361	1,002	757	780
Trade and other accounts receivable net	881	816	791	762	682
Finance and contract receivables, current, net	720	730	715	672	653
Inventories net	1,025	943	1,006	1,033	804
Prepaid expenses and other current assets	152	140	138	145	135
Total current assets	4,403	3,989	3,652	3,369	3,053
Property and equipment net	552	543	539	513	518
Operating lease right-of-use assets	84	89	75	62	52
Deferred income tax assets	73	78	76	70	50
Finance and contract receivable, net, non-current	1,722	1,730	1,692	1,555	1,492
Goodwill	1,110	1,057	1,097	1,045	1,117
Other intangible assets net	271	268	269	276	302
Pension assets	174	125	131	71	161
Other long-term assets	25	17	14	14	16
Total assets	8,412	7,897	7,545	6,973	6,760
Notes payable	16	14	16	17	17
Accounts payable	229	266	238	287	278
Accrued benefits	65	67	64	59	67
Accrued compensation	77	86	103	99	115
Franchisee deposits	66	71	73	74	81
Other accrued liabilities	465	458	447	436	424
Total current liabilities	919	962	942	972	982
Long-term debt	1,186	1,186	1,185	1,184	1,183
Deferred income tax liabilities	87	74	79	82	123
Retiree health care benefits	18	19	22	23	31
Pension liabilities	86	78	82	79	105
Operating lease liabilities	62	69	55	45	34
Other long-term liabilities	98	93	87	85	98
Total liabilities	2,456	2,480	2,452	2,469	2,556
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock (authorized 15,000,000 shares of $1 par value; none outstanding)	0	0	0	0	0
Common stock (authorized 250,000,000 shares of $1 par value; issued 67,461,309 and 67,456,641 shares, respectively)	68	68	68	67	67
Additional paid-in capital	579	558	546	500	473
Retained earnings	8,138	7,584	6,949	6,296	5,700
Accumulated other comprehensive loss	−355	−575	−450	−528	−344
Treasury stock at cost (15,594,254 and 15,074,968 shares, respectively)	−2,497	−2,240	−2,041	−1,854	−1,714
Total shareholders equity attributable to Snap-on Incorporated	5,932	5,394	5,071	4,481	4,182
Noncontrolling interests	25	23	22	22	22
Total equity	5,957	5,417	5,093	4,504	4,204
Total liabilities and equity	8,412	7,897	7,545	6,973	6,760

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	76	73	72	72	76
Amortization of other intangible assets	23	25	27	29	29
Provisions for losses on finance receivables	73	71	57	38	32
Provisions for losses on non-finance receivables	21	23	19	17	16
Stock-based compensation expense	29	29	45	34	41
Deferred income tax provision (benefit)	3	−8	−19	−10	8
Gain on sales of assets	−16	−600,000	−1	−3	2
Trade and other accounts receivable	−62	−73	−45	−120	−61
Contract receivables	−11	−17	−34	−12	−3
Inventories	−44	28	23	−272	−75
Prepaid expenses and other assets	26	10	35	−6	−11
Accounts payable	−43	29	−48	18	57
Accrued and other liabilities	−34	−40	−12	−42	14
Net cash provided by operating activities	1,082	1,218	1,154	675	967
Additions to finance receivables	−914	−966	−1,029	−956	−878
Collections of finance receivables	889	838	834	827	854
Capital expenditures	−76	−84	−95	−84	−70
Acquisitions of businesses, net of cash acquired	0	0	−43	500,000	−200
Disposals of property and equipment	20	3	3	5	2
Other	7	5	−1	1	1
Net cash used by investing activities	−73	−204	−332	−206	−290
Net increase (decrease) in other short-term borrowings	3	−1	−2	2	3
Cash dividends paid	−462	−406	−356	−313	−276
Purchases of treasury stock	−329	−290	−295	−198	−431
Proceeds from stock purchase plans and stock option exercises	74	92	114	55	—
Other	−36	−44	−35	−30	−27
Net cash used by financing activities	−750	−650	−573	−485	−819
Effect of exchange rate changes on cash and cash equivalents	5	−5	−5	−7	−800,000
Increase in cash and cash equivalents	264	359	244	−23	−143
Cash paid for interest	−45	−44	−45	−45	−56
Net cash paid for income taxes	−327	−306	−301	−261	−249

Filings

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