Stanley Black & Decker
SWK NYSE Industrial Machinery & Supplies & Components Financials FY2016–FY2025
Stanley Black & Decker's revenue fell 1.5% to $15.1 billion in fiscal 2025. Its net margin was 2.7%, up from 1.9% a year earlier. Free cash flow was $688 million, down 8.7%. It paid out $521 million in dividends and buybacks, 76% of free cash flow. The diluted share count rose 0.4%.
What Stanley Black & Decker does
Stanley Black & Decker, founded in 1843, makes hand tools, power tools, outdoor products and accessories, plus engineered fasteners used in manufacturing. Its 2025 revenue was $15.1 billion, of which about 62% came from the United States.
It has two segments. Tools & Outdoor, with $13.2 billion of revenue (87% of the total), sells under brands such as DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER and CUB CADET: power tools, hand tools, storage, and lawn and garden equipment. Most sales go through retailers such as home centers and mass merchants, as well as distributors, independent dealers and a direct sales force. Engineered Fastening, with $2.0 billion (13%), sells fasteners, fittings and other parts designed for specific uses.
The company has sold several businesses in recent years, including its security and automatic door units in 2022 and its infrastructure business in 2024. It has also agreed to sell its Consolidated Aerospace Manufacturing business and plans to use the proceeds to pay down debt. It finished a cost-cutting program at the end of 2025.
- Legal name
- STANLEY BLACK & DECKER, INC.
- Fiscal year ends
- January 3, 2026
- Latest annual report
- 10-K · Feb 24, 2026
- Accession · CIK
- 0000093556-26-000009
0000093556
Revenue and margins
Stanley Black & Decker had $15.1B of revenue in fiscal 2025, down 1.5% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew −9.5% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $688M in fiscal 2025, 4.6% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Stanley Black & Decker returned $521M to shareholders in fiscal 2025, 76% of free cash flow. The diluted share count rose 0.4%.
Value Stanley Black & Decker yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of −$5.6B and divides by 151.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 24.2x · peers 28.0x · sector 26.0x.
Balance sheet
Cash, debt and the ratios that show how comfortably Stanley Black & Decker can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $142M | $396M | $449M | $291M | $280M |
| Debt incl. finance leases | $6.6B | $7.5B | $7.2B | $6.1B | $5.9B |
| Net debt / EBITDA | 3.0x | 9.5x | 10.9x | 5.0x | 4.3x |
| Debt / equity | 0.6x | 0.8x | 0.8x | 0.7x | 0.7x |
| Interest coverage | 9.6x | 1.1x | 0.3x | 1.5x | 1.8x |
| Current ratio | 1.0x | 1.2x | 1.2x | 1.3x | 1.1x |
| Quick ratio | 0.4x | 0.3x | 0.4x | 0.4x | 0.4x |
| Total assets | $28.2B | $25.0B | $23.7B | $21.8B | $21.2B |
| Total liabilities | $16.6B | $15.2B | $14.6B | $13.1B | $12.2B |
| Shareholders' equity | $11.6B | $9.7B | $9.1B | $8.7B | $9.1B |
| Net debt (− = net cash) | $6.5B | $7.1B | $6.7B | $5.8B | $5.6B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.9M
2 insiders
Of sales under plans
0%
$0.0M
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✕ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✕ | ✓ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✕ | ✓ | ✕ |
| Current ratio rose | ✕ | ✓ | ✕ |
| Share count didn't rise | ✓ | ✕ | ✕ |
| Gross margin rose | ✕ | ✓ | ✓ |
| Revenue rose relative to assets | ✓ | ✓ | ✓ |
| F-score | 4 / 9 | 8 / 9 | 6 / 9 |
| Accruals ratio | −6.2% | −3.6% | −2.6% |
| Altman Z'' | 2.19 | 2.61 | 2.57 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Stanley Black & Decker SWK | $14.9B | −1.5% | — | 4.6% | 6.2% | 24.2x | 6 | |
| Otis Worldwide OTIS | $28.8B | 1.2% | 14.8% | 10.0% | 116.6% | 19.3x | 5 | Compare → |
| Illinois Tool Works ITW | $79.1B | 0.9% | 26.3% | 16.9% | 30.2% | 25.0x | 6 | Compare → |
| W. W. Grainger GWW | $63.7B | 4.5% | 13.9% | 7.4% | 32.3% | 34.4x | 6 | Compare → |
| Parker Hannifin PH | $112.8B | 8.3% | 23.6% | 18.2% | 17.6% | — | 9 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $11.6B | $13.0B | $14.0B | $12.9B | $12.8B | $15.3B | $16.9B | $15.8B | $15.4B | $15.1B |
| Gross profit | $4.3B | $4.8B | $4.9B | $4.8B | $4.4B | $5.1B | $4.3B | $3.9B | $4.5B | $4.6B |
| Research and development | $204M | $252M | $276M | $241M | $200M | $276M | $357M | $362M | $329M | $321M |
| Operating income | $1.8B | $2.0B | $1.9B | $2.0B | $2.2B | — | — | — | — | — |
| Interest expense | $195M | $223M | $278M | $282M | $223M | $185M | $339M | $559M | $499M | $516M |
| Pretax income | $1.2B | $1.5B | $1.0B | $1.1B | $1.2B | $1.6B | $37.9M | −$376M | $241M | $418M |
| Income tax | $262M | $301M | $416M | $127M | $38.0M | $55.1M | −$132M | −$94.0M | −$45.2M | $16.0M |
| Net income | $968M | $1.2B | $605M | $956M | $1.2B | $1.7B | $1.1B | −$311M | $294M | $402M |
| Diluted EPS | $6.53 | $8.05 | $3.85 | $6.11 | $7.46 | $10.16 | $6.76 | −$2.07 | $1.95 | $2.65 |
| Diluted shares | 0.15B | 0.15B | 0.16B | 0.16B | 0.16B | 0.17B | 0.16B | 0.15B | 0.15B | 0.15B |
| Cash flow | ||||||||||
| Cash from operations | $1.2B | $669M | $1.3B | $1.5B | $2.0B | $663M | −$1.5B | $1.2B | $1.1B | $971M |
| Capital expenditure | $347M | $442M | $492M | $425M | $348M | $519M | $530M | $339M | $354M | $283M |
| Free cash flow | $839M | $226M | $769M | $1.1B | $1.7B | $144M | −$2.0B | $853M | $753M | $688M |
| Depreciation and amortization | $264M | $297M | $331M | $560M | $377M | $374M | $370M | $432M | $426M | $366M |
| Stock-based compensation | $81.2M | $78.7M | $76.5M | $88.8M | $109M | $118M | $90.7M | $83.8M | $105M | $94.1M |
| Acquisitions | $59.3M | $2.6B | $525M | $685M | $1.3B | $2.0B | $71.9M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $374M | $28.7M | $527M | $27.5M | $26.2M | $34.3M | $2.3B | $16.1M | $17.7M | $20.1M |
| Dividends paid | $331M | $363M | $385M | $402M | $432M | $475M | $466M | $483M | $491M | $501M |
| Dividends and buybacks | $705M | $392M | $912M | $430M | $458M | $509M | $2.8B | $499M | $509M | $521M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $1.1B | $638M | $289M | $298M | $1.2B | $142M | $396M | $449M | $291M | $280M |
| Total debt | $3.8B | $3.8B | $4.2B | $3.5B | $4.2B | $6.6B | $7.5B | $7.2B | $6.1B | $5.9B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | $4.8B | $4.6B | $4.6B | $4.5B | $6.0B | $8.5B | $8.0B | $7.0B | $6.4B | $6.0B |
| Current liabilities | $2.8B | $4.4B | $4.0B | $4.4B | $4.6B | $8.8B | $6.6B | $5.9B | $4.9B | $5.2B |
| Inventory | $1.5B | $2.0B | $2.4B | $2.3B | $2.6B | $5.4B | $5.9B | $4.7B | $4.5B | $4.2B |
| Property and equipment, net | $1.5B | $1.7B | $1.9B | $2.0B | $2.0B | $2.3B | $2.4B | $2.2B | $2.0B | $1.8B |
| Total assets | $15.7B | $19.1B | $19.4B | $20.6B | $23.6B | $28.2B | $25.0B | $23.7B | $21.8B | $21.2B |
| Total liabilities | $9.3B | $10.8B | $11.6B | $11.5B | $12.5B | $16.6B | $15.2B | $14.6B | $13.1B | $12.2B |
| Shareholders' equity | $6.4B | $8.3B | $7.8B | $9.1B | $11.1B | $11.6B | $9.7B | $9.1B | $8.7B | $9.1B |
| Margins | ||||||||||
| Gross margin | 36.8% | 36.9% | 34.7% | 37.2% | 34.6% | 33.3% | 25.3% | 24.9% | 29.4% | 30.3% |
| Operating margin | 15.8% | 15.4% | 13.5% | 15.4% | 17.1% | — | — | — | — | — |
| EBITDA margin | 18.0% | 17.7% | 15.8% | 19.8% | 20.0% | 14.1% | 4.4% | 3.9% | 7.6% | 8.6% |
| Net margin | 8.4% | 9.5% | 4.3% | 7.4% | 9.7% | 11.1% | 6.3% | −2.0% | 1.9% | 2.7% |
| FCF margin | 7.2% | 1.7% | 5.5% | 8.4% | 13.1% | 0.9% | −11.7% | 5.4% | 4.9% | 4.6% |
| Returns | ||||||||||
| Return on capital | 15.7% | 15.6% | 9.6% | 14.6% | 15.9% | 10.7% | 2.2% | 0.9% | 4.9% | 6.2% |
| Return on capital employed | 14.5% | 14.5% | 12.5% | 12.6% | 12.4% | 9.2% | 2.0% | 1.0% | 4.3% | 5.7% |
| Return on equity | 15.9% | 16.7% | 7.5% | 11.3% | 12.2% | 14.9% | 10.0% | −3.3% | 3.3% | 4.5% |
| Return on assets | 6.3% | 7.1% | 3.1% | 4.8% | 5.6% | 6.5% | 4.0% | −1.3% | 1.3% | 1.9% |
| Growth | ||||||||||
| Revenue growth | 3.8% | 11.8% | 7.8% | −7.7% | −1.3% | 19.9% | 10.9% | −6.9% | −2.6% | −1.5% |
| Net income growth | 9.5% | 26.8% | −50.7% | 57.9% | 29.1% | 36.9% | −37.1% | −129.2% | — | 36.6% |
| EPS growth | 12.8% | 23.3% | −52.2% | 58.7% | 22.1% | 36.2% | −33.5% | −130.6% | — | 35.9% |
| FCF growth | −3.7% | −73.0% | 240.0% | 40.6% | 54.9% | −91.4% | −1,481.9% | — | −11.7% | −8.7% |
| Share count change | −3.0% | 2.9% | 2.8% | −0.3% | 3.9% | 1.6% | −5.1% | −4.3% | 1.0% | 0.4% |
| Financial health | ||||||||||
| Net debt / EBITDA | 1.3x | 1.4x | 1.8x | 1.3x | 1.2x | 3.0x | 9.5x | 10.9x | 5.0x | 4.3x |
| Debt / equity | 0.6x | 0.5x | 0.5x | 0.4x | 0.4x | 0.6x | 0.8x | 0.8x | 0.7x | 0.7x |
| Interest coverage | 9.4x | 9.0x | 6.8x | 7.1x | 9.8x | 9.6x | 1.1x | 0.3x | 1.5x | 1.8x |
| Current ratio | 1.7x | 1.0x | 1.1x | 1.0x | 1.3x | 1.0x | 1.2x | 1.2x | 1.3x | 1.1x |
| Quick ratio | 1.2x | 0.6x | 0.6x | 0.5x | 0.8x | 0.4x | 0.3x | 0.4x | 0.4x | 0.4x |
| Capital allocation | ||||||||||
| Capex / revenue | 3.0% | 3.4% | 3.5% | 3.3% | 2.7% | 3.4% | 3.1% | 2.2% | 2.3% | 1.9% |
| Stock comp / revenue | 0.7% | 0.6% | 0.6% | 0.7% | 0.9% | 0.8% | 0.5% | 0.5% | 0.7% | 0.6% |
| Payouts / FCF | 84.1% | 173.2% | 118.6% | 39.7% | 27.4% | 353.5% | — | 58.5% | 67.6% | 75.7% |
| Quality scores | ||||||||||
| Piotroski F-score | 8.0 | 6.0 | 5.0 | 7.0 | 5.0 | 4.0 | 3.0 | 4.0 | 8.0 | 6.0 |
| Altman Z'' | 3.4 | 2.6 | 2.6 | 2.6 | 3.0 | 2.1 | 2.4 | 2.2 | 2.6 | 2.6 |
| Accruals ratio | −1.4% | 3.2% | −3.4% | −2.8% | −3.6% | 4.0% | 9.5% | −6.2% | −3.6% | −2.6% |
Source: SEC EDGAR XBRL filings (CIK 0000093556). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.