Snap-on Incorporated Reports 4.8% Increase in Revenue for Q2 FY2023

☀️Earnings Overview

On July 20, 2023, SNAP-ON INCORPORATED ($NYSE:SNA) released their second quarter of FY2023 (ending June 30, 2023) earnings results, which showed total revenue of USD 1191.3 million – an increase of 4.8% compared to the same period in the previous year. Net income was also up by 14.0%, reaching USD 264.0 million.

Analysis

GoodWhale has conducted an analysis on SNAP-ON INCORPORATED‘s financials and the results provide a positive outlook on the company. The Star Chart indicates that SNAP-ON INCORPORATED has a high health score of 10/10 when it comes to cashflows and debt, meaning that the company is in a strong position and can sustain future operations even in times of crisis. This would make it an attractive investment option for investors looking for long-term returns. The financial analysis also shows that SNAP-ON INCORPORATED is strong in asset, dividend, and profitability, and medium in growth. All of these factors contribute to the company’s overall attractiveness to potential investors. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Snap-on Incorporated. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Snap-on Incorporated. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Snap-on Incorporated. More…

Key Ratios Snapshot

Some of the financial key ratios for Snap-on Incorporated are shown below. More…

Peers

The company’s products are used by professionals in the automotive, aerospace, and industrial sectors. Snap-on’s products are also used by hobbyists and do-it-yourselfers. The company has a wide range of products that compete with those of its competitors.

– DMG Mori Aktiengesellschaft ($LTS:0OP0)

DMG Mori Aktiengesellschaft is a German machine tool manufacturer. The company is headquartered in Bielefeld, Germany. DMG Mori Aktiengesellschaft is the parent company of DMG Mori Seiki Co., Ltd., a Japanese machine tool manufacturer. The company is listed on the Frankfurt Stock Exchange and Tokyo Stock Exchange.

DMG Mori Aktiengesellschaft has a market cap of 3.24B as of 2022 and a Return on Equity of 8.55%. The company is a leading manufacturer of machine tools and has a strong presence in both the German and Japanese markets.

– Hangzhou Great Star Industrial Co Ltd ($SZSE:002444)

Hangzhou Great Star Industrial Co., Ltd. is engaged in the manufacture and sale of tools and hardware products. The Company’s products include hand tools, power tools, air tools, garden tools, automobile maintenance tools, and others. It sells its products under the brand names of Greatstar, GPS, and others. The Company operates its business in China and internationally.

– Jainex Aamcol Ltd ($BSE:505212)

Jainex Aamcol Ltd is an Indian company that is engaged in the business of manufacturing and marketing of chemicals. The company has a market capitalization of 184.87 million as of 2022 and a return on equity of 33.37%. The company’s products include dyes, pigments, and other chemicals. The company has a strong presence in the Indian market and is one of the leading manufacturers of chemicals in the country.

Summary

Snap-on Incorporated recently reported their second quarter earnings for FY2023 (ending June 30, 2023). Total revenue increased 4.8% year-over-year to USD 1191.3 million and net income increased 14.0% to USD 264.0 million. Despite the strong performance, the stock price moved down the same day.

For investors, this could indicate that the market is expecting even higher growth or that the company has already priced in the increased performance. Still, with the strong growth reported and a relatively low PE ratio, Snap-on Incorporated could be a good option for investors looking for value.