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Snap-on Inc
SNA : NYSE : Industrial Goods

$116.91 -0.09 | -0.08%
Today's Range: 116.63 - 117.89
Avg. Daily Volume: 336,600
04/23/14 - 4:01 PM ET

Financial Analysis


SNAP-ON INC's gross profit margin for the fourth quarter of its fiscal year 2013 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago. SNAP-ON INC has strong liquidity. Currently, the Quick Ratio is 1.67 which shows the ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

During the same period, stockholders' equity ("net worth") has increased by 17.26% from the same quarter last year. The key liquidity measurements indicate that the company is unlikely to face financial difficulties in the near future.

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Income Statement Q4 FY13 Q4 FY12
Net Sales ($mil)844.9796.1
EBITDA ($mil)175.6160.2
EBIT ($mil)156.6140.7
Net Income ($mil)94.584.6


Balance Sheet Q4 FY13 Q4 FY12
Cash & Equiv. ($mil)217.6214.5
Total Assets ($mil)4110.03902.3
Total Debt ($mil)1004.71015.2
Equity ($mil)2113.21802.1


Profitability Q4 FY13 Q4 FY12
Gross Profit Margin52.6652.05
EBITDA Margin20.7820.12
Operating Margin18.5317.67
Sales Turnover0.790.79
Return on Assets8.527.84
Return on Equity16.5716.98
Debt Q4 FY13 Q4 FY12
Current Ratio2.512.83
Debt/Capital0.320.36
Interest Expense14.314.4
Interest Coverage10.959.77


Share Data Q4 FY13 Q4 FY12
Shares outstanding (mil)58.1258.26
Div / share0.440.38
EPS1.61.43
Book value / share36.3630.93
Institutional Own % n/a n/a
Avg Daily Volume333757.0224957.0

Valuation


BUY. SNAP-ON INC's P/E ratio indicates a discount compared to an average of 23.16 for the Machinery industry and a value on par with the S&P 500 average of 18.59. To use another comparison, its price-to-book ratio of 3.10 indicates a premium versus the S&P 500 average of 2.56 and a discount versus the industry average of 3.36. The current price-to-sales ratio is above both the S&P 500 average and the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, SNAP-ON INC proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
SNA 18.98 Peers 23.16   SNA 16.66 Peers 15.95

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

SNA is trading at a discount to its peers.

 

Average. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

SNA is trading at a valuation on par to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
SNA 15.74 Peers 18.28   SNA 1.82 Peers 2.62

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

SNA is trading at a valuation on par with its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

SNA trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
SNA 3.10 Peers 3.36   SNA 14.03 Peers 45.17

Average. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

SNA is trading at a valuation on par with its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, SNA is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
SNA 2.02 Peers 1.66   SNA 4.46 Peers 2.25

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

SNA is trading at a premium to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

SNA has a sales growth rate that significantly exceeds its peers.

 

 

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