Revenue growth has decelerated to a 2.9% contraction as of 2026Q1, though the company maintains a robust 50.4% gross margin profile.
| Metric | TTM | Jan'26 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Feb'05 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 5.12B | 5.16B | 5.11B | 5.11B | 4.84B | 4.6B | 3.59B | 3.73B | 3.74B | 3.69B | 3.43B | 3.35B | 3.28B | 3.06B | 2.94B | 2.85B | 2.62B | 2.36B | 2.85B | 2.84B | 2.46B | 2.28B | 2.41B | 2.23B | 2.11B | 2.1B | 2.18B | 1.95B | 1.77B | 1.67B | 1.49B |
| Revenue Growth % | 0.99% | 0.93% | 0% | 5.49% | 5.23% | 28.09% | -3.69% | -0.29% | 1.46% | 7.48% | 2.31% | 2.29% | 7.24% | 4.04% | 2.93% | 8.97% | 10.87% | -17.2% | 0.43% | 15.73% | 7.63% | -5.24% | 7.79% | 5.88% | 0.64% | -3.68% | 11.83% | 9.76% | 6% | 12.58% | 14.95% |
| Cost of Goods Sold | 2.49B | 2.49B | 2.45B | 2.49B | 2.4B | 2.22B | 1.84B | 1.89B | 1.87B | 1.86B | 1.72B | 1.7B | 1.69B | 1.58B | 1.55B | 1.52B | 1.41B | 1.3B | 1.57B | 1.57B | 1.38B | 1.27B | 1.36B | 1.27B | 1.14B | 1.15B | 1.11B | 994.1M | 964.4M | 790M | 702.7M |
| COGS % of Revenue | - | 48.27% | 48.03% | 48.72% | 49.47% | 48.22% | 51.33% | 50.56% | 50.01% | 50.48% | 50.14% | 50.84% | 51.66% | 51.81% | 52.69% | 53.13% | 53.76% | 55.23% | 54.98% | 55.42% | 56.02% | 55.67% | 56.66% | 56.8% | 54.25% | 54.72% | 51.14% | 51.09% | 54.41% | 47.24% | 47.31% |
| Gross Profit | 2.63B | 2.67B | 2.65B | 2.62B | 2.45B | 2.38B | 1.75B | 1.84B | 1.87B | 1.83B | 1.71B | 1.65B | 1.58B | 1.47B | 1.39B | 1.34B | 1.21B | 1.06B | 1.28B | 1.27B | 1.08B | 1.01B | 1.04B | 964.7M | 964.9M | 949M | 1.06B | 951.5M | 808.2M | 882.2M | 782.6M |
| Gross Margin % | 51.3% | 51.73% | 51.97% | 51.28% | 50.53% | 51.78% | 48.67% | 49.44% | 49.99% | 49.52% | 49.86% | 49.16% | 48.34% | 48.19% | 47.31% | 46.87% | 46.24% | 44.77% | 45.02% | 44.58% | 43.98% | 44.33% | 43.34% | 43.2% | 45.75% | 45.28% | 48.86% | 48.91% | 45.59% | 52.76% | 52.69% |
| Gross Profit Growth % | - | 0.47% | 1.34% | 7.05% | 2.7% | 36.28% | -5.18% | -1.39% | 2.42% | 6.75% | 3.77% | 4.04% | 7.56% | 5.96% | 3.89% | 10.47% | 14.51% | -17.67% | 1.42% | 17.3% | 6.78% | -3.09% | 8.16% | -0.02% | 1.68% | -10.72% | 11.72% | 17.73% | -8.39% | 12.73% | 12.6% |
| Operating Expenses | 1.36B | 1.34B | 1.31B | 1.31B | 1.24B | 1.26B | 868M | 881.7M | 913.9M | 943.8M | 849.3M | 883.5M | 899.6M | 886.7M | 873.6M | 862.8M | 879.7M | 806.9M | 895.8M | 941.8M | 917M | 847.8M | 901.1M | 814.6M | 766.6M | 898.1M | 871.1M | 799.7M | 840.1M | 688.6M | 626.3M |
| OpEx % of Revenue | - | 25.98% | 25.63% | 25.63% | 25.6% | 27.37% | 24.16% | 23.64% | 24.43% | 25.6% | 24.76% | 26.35% | 27.45% | 29.01% | 29.74% | 30.23% | 33.59% | 34.15% | 31.4% | 33.15% | 37.35% | 37.17% | 37.43% | 36.48% | 36.35% | 42.85% | 40.04% | 41.1% | 47.39% | 41.18% | 42.17% |
| Selling, General & Admin | 667.7M | 1.34B | 1.3B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 953.7M | 894.1M | 824.4M | 933.1M | 964.2M | 930M | 863.5M | 901.1M | 858.4M | 799.2M | 848.7M | 792.6M | 723.7M | 705.8M | 650.2M | 594.5M |
| SG&A % of Revenue | - | 25.98% | 25.54% | - | - | - | - | - | - | - | - | - | - | - | - | 33.41% | 34.14% | 34.9% | 32.7% | 33.94% | 37.88% | 37.86% | 37.43% | 38.44% | 37.89% | 40.5% | 36.43% | 37.2% | 39.82% | 38.88% | 40.03% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | 0 | 4.3M | 1.31B | 1.24B | 1.26B | 868M | 881.7M | 913.9M | 943.8M | 849.3M | 883.5M | 899.6M | 886.7M | 873.6M | -90.9M | -14.4M | -17.5M | -37.3M | -22.4M | -13M | -15.7M | 0 | -43.8M | -32.6M | 49.4M | 78.5M | 76M | 134.3M | 38.4M | 31.8M |
| Operating Income | 1.27B | 1.33B | 1.35B | 1.31B | 1.21B | 1.12B | 880.5M | 962.3M | 956.1M | 882.1M | 861.1M | 764.8M | 684.7M | 586.2M | 516.4M | 475.1M | 331.4M | 250.7M | 388.8M | 324.8M | 162.8M | 163.4M | 142.3M | 150.1M | 198.3M | 50.9M | 191.9M | 151.8M | -31.9M | 193.6M | 156.3M |
| Operating Margin % | 24.71% | 25.75% | 26.34% | 25.65% | 24.93% | 24.33% | 24.51% | 25.8% | 25.56% | 23.93% | 25.1% | 22.81% | 20.89% | 19.18% | 17.58% | 16.65% | 12.65% | 10.61% | 13.63% | 11.43% | 6.63% | 7.16% | 5.91% | 6.72% | 9.4% | 2.43% | 8.82% | 7.8% | -1.8% | 11.58% | 10.52% |
| Operating Income Growth % | - | -1.34% | 2.69% | 8.55% | 7.84% | 27.13% | -8.5% | 0.65% | 8.39% | 2.44% | 12.59% | 11.7% | 16.8% | 13.52% | 8.69% | 43.36% | 32.19% | -35.52% | 19.7% | 99.51% | -0.37% | 14.83% | -5.2% | -24.31% | 289.59% | -73.48% | 26.42% | 575.86% | -116.48% | 23.86% | 24.54% |
| EBITDA | 1.42B | 1.43B | 1.44B | 1.41B | 1.31B | 1.22B | 977.2M | 1.05B | 1.05B | 975.3M | 946.7M | 847.3M | 764.2M | 662.9M | 593.1M | 549.7M | 404.1M | 325.3M | 460.8M | 400.5M | 214.7M | 215.6M | 203.3M | 210.4M | 250M | 118.9M | 258.1M | 207.2M | 13.1M | 232M | 188.1M |
| EBITDA Margin % | 27.82% | 27.66% | 28.26% | 27.6% | 27% | 26.6% | 27.2% | 28.28% | 28.07% | 26.45% | 27.6% | 25.27% | 23.32% | 21.69% | 20.19% | 19.26% | 15.43% | 13.77% | 16.15% | 14.1% | 8.75% | 9.45% | 8.45% | 9.42% | 11.85% | 5.67% | 11.86% | 10.65% | 0.74% | 13.87% | 12.66% |
| EBITDA Growth % | 0.49% | -1.21% | 2.41% | 7.82% | 6.8% | 25.28% | -7.35% | 0.43% | 7.68% | 3.02% | 11.73% | 10.87% | 15.28% | 11.77% | 7.9% | 36.03% | 24.22% | -29.41% | 15.06% | 86.54% | -0.42% | 6.05% | -3.37% | -15.84% | 110.26% | -53.93% | 24.57% | 1481.68% | -94.35% | 23.34% | 19.81% |
| D&A (Non-Cash Add-back) | 74.5M | 98.5M | 98M | 99.3M | 100.2M | 104.8M | 96.7M | 92.4M | 94.1M | 93.2M | 85.6M | 82.5M | 79.5M | 76.7M | 76.7M | 74.6M | 72.7M | 74.6M | 72M | 75.7M | 51.9M | 52.2M | 61M | 60.3M | 51.7M | 68M | 66.2M | 55.4M | 45M | 38.4M | 31.8M |
| EBIT | 1.39B | 1.39B | 1.42B | 1.38B | 1.25B | 1.14B | 889.2M | 971.1M | 960.3M | 874.3M | 853.6M | 762.4M | 683.8M | 582.3M | 516M | 474.1M | 332.2M | 253M | 391.6M | 330.3M | 162.8M | 163.4M | 142.3M | 150.1M | 203.4M | 100.3M | 204.2M | 172.4M | 57.4M | 193.6M | 156.3M |
| Net Interest Income | -6.5M | 6.6M | 7.4M | -9.7M | -34.1M | -51M | -57.8M | -51M | -52.8M | -56.5M | -54.8M | -55.4M | -56.7M | -60M | -59M | -65.1M | -58.4M | -46M | -27.2M | -37M | -20.6M | -21.7M | -23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 44.9M | 58.8M | 57M | 40.2M | 13M | 2.1M | 1.7M | 1.5M | 600K | 300K | 600K | 500K | 500K | 500K | 600K | 1.4M | 1.3M | 1.7M | 6.6M | 9.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 51.4M | 52.2M | 49.6M | 49.9M | 47.1M | 53.1M | 59.5M | 52.5M | 53.4M | 56.8M | 55.4M | 55.9M | 57.2M | 60.5M | 59.6M | 66.5M | 59.7M | 47.7M | 33.8M | 46.1M | 20.6M | 21.7M | 23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 78.6M | 8.2M | 27.4M | 17.6M | -4.6M | -31M | -45.3M | -40.2M | -46.2M | -60.2M | -59.7M | -54.3M | -53.8M | -60M | -56.2M | -62.2M | -54M | -45.4M | -31M | -40.6M | -15.3M | -18.6M | -21.9M | -33.4M | -37.1M | -3.3M | 700K | 46.1M | 42.7M | 45.1M | 52.4M |
| Pretax Income | 1.34B | 1.34B | 1.37B | 1.33B | 1.2B | 1.09B | 835.2M | 922.1M | 909.9M | 821.9M | 801.4M | 710.5M | 630.9M | 526.2M | 460.2M | 412.9M | 277.4M | 205.3M | 357.8M | 284.2M | 145.9M | 148M | 120.4M | 116.7M | 161.2M | 47.6M | 192.6M | 197.9M | 10.8M | 238.7M | 208.7M |
| Pretax Margin % | 26.24% | 25.91% | 26.88% | 26% | 24.83% | 23.65% | 23.25% | 24.72% | 24.32% | 22.29% | 23.36% | 21.19% | 19.25% | 17.22% | 15.66% | 14.47% | 10.59% | 8.69% | 12.54% | 10% | 5.94% | 6.49% | 5% | 5.23% | 7.64% | 2.27% | 8.85% | 10.17% | 0.61% | 14.27% | 14.05% |
| Income Tax | 294.6M | 293.6M | 304.2M | 293.4M | 268.7M | 247M | 189.1M | 211.8M | 214.4M | 250.9M | 244.3M | 221.2M | 199.5M | 166.7M | 148.2M | 133.7M | 87.6M | 62.7M | 117.8M | 92.5M | 45.8M | 55.1M | 38.7M | 38M | 58M | 26.1M | 69.5M | 70.7M | 15.6M | 88.3M | 77.2M |
| Effective Tax Rate % | 21.92% | 21.98% | 22.15% | 22.09% | 22.34% | 22.69% | 22.64% | 22.97% | 23.56% | 30.53% | 30.48% | 31.13% | 31.62% | 31.68% | 32.2% | 32.38% | 31.58% | 30.54% | 32.92% | 32.55% | 31.39% | 37.23% | 32.14% | 32.56% | 35.98% | 54.83% | 36.09% | 35.73% | 144.44% | 36.99% | 36.99% |
| Net Income | 1.02B | 1.02B | 1.04B | 1.01B | 911.7M | 820.5M | 627M | 693.5M | 679.9M | 557.7M | 546.4M | 478.7M | 421.9M | 350.3M | 306.1M | 276.3M | 186.5M | 134.2M | 236.7M | 181.2M | 100.1M | 92.9M | 81.7M | 78.7M | 106M | 19M | 148.5M | 127.2M | -4.8M | 150.4M | 131.5M |
| Net Margin % | 19.99% | 19.72% | 20.43% | 19.79% | 18.83% | 17.83% | 17.45% | 18.59% | 18.18% | 15.13% | 15.93% | 14.28% | 12.87% | 11.46% | 10.42% | 9.68% | 7.12% | 5.68% | 8.3% | 6.38% | 4.08% | 4.07% | 3.39% | 3.52% | 5.03% | 0.91% | 6.83% | 6.54% | -0.27% | 8.99% | 8.85% |
| Net Income Growth % | 0.24% | -2.59% | 3.24% | 10.9% | 11.12% | 30.86% | -9.59% | 2% | 21.91% | 2.07% | 14.14% | 13.46% | 20.44% | 14.44% | 10.79% | 48.15% | 38.97% | -43.3% | 30.63% | 81.02% | 7.75% | 13.71% | 3.81% | -25.75% | 457.89% | -87.21% | 16.75% | 2750% | -103.19% | 14.37% | 16.06% |
| Net Income (Continuing) | 1.05B | 1.04B | 1.07B | 1.03B | 933.9M | 841.4M | 646.4M | 711.2M | 696.2M | 572.2M | 559.6M | 490.6M | 432.1M | 359.7M | 314.6M | 283.8M | 193M | 143.7M | 243.6M | 191.7M | 97.9M | 88.2M | 81.7M | 78.7M | 103.2M | 21.5M | 123.1M | 127.2M | -4.8M | 150.4M | 131.5M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 25M | 25M | 22.9M | 22.1M | 22.2M | 21.9M | 21.7M | 21.7M | 19.8M | 18.4M | 18M | 18M | 17.5M | 17.2M | 16.9M | 16.4M | 15.9M | 15.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 19.42 | 19.19 | 19.51 | 18.76 | 16.82 | 14.92 | 11.44 | 12.41 | 11.87 | 9.52 | 9.20 | 8.10 | 7.14 | 5.93 | 5.20 | 4.71 | 3.19 | 2.32 | 4.07 | 3.09 | 1.69 | 1.59 | 1.40 | 1.35 | 1.81 | 0.33 | 2.53 | 2.16 | -0.08 | 2.44 | 2.13 |
| EPS Growth % | 1.36% | -1.64% | 4% | 11.53% | 12.73% | 30.42% | -7.82% | 4.55% | 24.68% | 3.48% | 13.58% | 13.45% | 20.4% | 14.04% | 10.4% | 47.65% | 37.5% | -43% | 31.72% | 82.84% | 6.29% | 13.57% | 3.7% | -25.41% | 448.48% | -86.96% | 17.13% | 2800% | -103.28% | 14.55% | 15.76% |
| EPS (Basic) | - | 19.52 | 19.85 | 19.11 | 17.14 | 15.22 | 11.55 | 12.59 | 12.08 | 9.72 | 9.40 | 8.24 | 7.26 | 6.02 | 5.26 | 4.75 | 3.22 | 2.33 | 4.12 | 3.13 | 1.72 | 1.61 | 1.41 | 1.35 | 1.82 | 0.33 | 2.54 | 2.18 | -0.08 | 2.47 | 2.16 |
| Diluted Shares Outstanding | 52.7M | 53M | 53.5M | 53.9M | 54.2M | 55M | 54.8M | 55.9M | 57.3M | 58.6M | 59.4M | 59.1M | 59.1M | 59.1M | 58.9M | 58.7M | 58.4M | 57.9M | 58.1M | 58.6M | 59.2M | 58.4M | 58.3M | 58.4M | 58.5M | 58.1M | 58.6M | 58.9M | 60M | 61.64M | 61.74M |
| Basic Shares Outstanding | 51.9M | 52.1M | 52.6M | 52.9M | 53.2M | 53.9M | 54.3M | 55.1M | 56.3M | 57.4M | 58.1M | 58.1M | 58.1M | 58.2M | 58.2M | 58.2M | 58M | 57.7M | 57.5M | 57.9M | 58.3M | 57.8M | 57.9M | 58.2M | 58.2M | 57.9M | 58.4M | 58.5M | 60M | 60.89M | 60.88M |
| Dividend Payout Ratio | - | 45.45% | 38.93% | 35.17% | 34.34% | 33.61% | 38.8% | 31.23% | 28.24% | 30.37% | 26.99% | 26.72% | 25.5% | 26.26% | 26.63% | 27.76% | 38.23% | 51.42% | 29.45% | 35.76% | 63.54% | 62.22% | 70.62% | 73.95% | 53.3% | 292.63% | 37.04% | 41.35% | - | 33.18% | 35.21% |
Stagnant Core Volume Growth
As indicated by the most recent quarterly data, Snap-on's revenue growth has decelerated to a contraction of 2.9% in 2026Q1, marking a significant departure from the mid-single-digit expansion observed in previous periods and highlighting potential saturation within the core professional technician tool market.
The shift from positive growth in 2025 to a contraction in the most recent quarter suggests that the company's reliance on pricing power may be reaching its limit. Investors should monitor whether this trend reflects a broader cyclical downturn in the automotive aftermarket or a structural plateau in the franchise-based distribution model.
According to the reported financial statements, Snap-on maintains a robust gross margin profile of 50.4% as of 2026Q1, demonstrating that the company retains significant pricing power despite the recent volatility in top-line performance and the broader industrial manufacturing environment in which it operates.
The ability to sustain gross margins above 50% suggests that the brand's premium positioning and the captive finance ecosystem effectively insulate the company from commodity cost fluctuations. This structural profitability remains a key differentiator compared to peers like Stanley Black & Decker, which operate at significantly lower margin tiers.
Based on the provided income statement data, Snap-on has demonstrated consistent operating discipline, with operating margins holding at 20.8% in 2026Q1, even as revenue growth has turned negative, suggesting that the company's cost structure is sufficiently flexible to manage through periods of lower demand.
The company's ability to maintain double-digit operating margins during a revenue contraction indicates a high degree of operational leverage and effective cost management. This performance warrants further investigation into whether the company can continue to protect these margins if the current top-line deceleration persists into future quarters.
While Snap-on's financial performance remains strong, the recent 2.9% revenue decline in 2026Q1 raises questions about the sustainability of its premium valuation, as the market may be overestimating the company's ability to grow in an increasingly complex and potentially saturated automotive repair landscape.
Short-term investors should be wary of the potential for margin compression if the company is forced to increase promotional activity to stimulate volume in the Tools Group. The reliance on interest income from the captive finance arm may also mask underlying weakness in hardware sales, creating a risk that earnings quality could deteriorate if credit conditions tighten.
Quick answers to the most common questions about buying SNA stock.
For fiscal year 2025, Snap-on Incorporated (SNA) reported total revenue of $5.16B. This represents a 247.1% increase compared to $1.49B in 1996.
Snap-on Incorporated (SNA) is profitable, generating $1.02B in net income for the fiscal year ending 2025 with a net profit margin of 19.7%.
Snap-on Incorporated (SNA) reported an operating income of $1.33B, resulting in an operating profit margin of 25.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Snap-on Incorporated (SNA) generated $2.67B in gross profit for the year, representing a gross profit margin of 51.7%. This demonstrates the company's core pricing power and production efficiency.