Snap-on Inc. (SNA) intrinsic value & 10-year financials
Snap-on Inc. (SNA) has a Graham intrinsic value of $393.37 per share. At $367.25 on Oct 17, 2026, the stock trades 7% below that value. Over the last 10 fiscal years revenue grew 3.4% a year to $4.7B, with an average return on invested capital of 18.1%.
- Graham intrinsic value
- $393.37
- Share price (Oct 17, 2026)
- $367.25
- Price vs Graham value
- 7% below
- Market cap
- $19.5B
- Revenue (FY2026)
- $4.7B
- Revenue growth (10-yr CAGR)
- 3.4%
- ROIC (10-yr avg)
- 18.1%
- Free cash flow (FY2026)
- —
SNA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $4.7B | $1.0B | $19.19 | — | 28.2% | 19.0% |
| FY2024 | $4.7B | $1.0B | $19.51 | — | 28.8% | 19.6% |
| FY2023 | $4.7B | $1.0B | $18.76 | — | 27.9% | 19.7% |
| FY2022 | $4.5B | $911.7M | $16.82 | — | 27.0% | 20.0% |
| FY2021 | $3.6B | $627.0M | $11.44 | — | 24.7% | 15.5% |
| FY2019 | $3.7B | $693.5M | $12.41 | — | 25.9% | 17.8% |
| FY2018 | $3.7B | $679.9M | $11.87 | — | 25.7% | 18.7% |
| FY2017 | $4.0B | $557.7M | $9.52 | — | 22.0% | 16.7% |
| FY2016 | $3.7B | $546.4M | $9.20 | — | 23.0% | 18.6% |
| FY2015 | $3.5B | $421.9M | $7.14 | — | 19.6% | 15.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Snap-on has demonstrated mature, steady growth, with revenue compounding at 3.4% annually over the past decade.
Snap-on has earned high returns on invested capital, averaging 18.1% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Snap-on shows that management has aggressively returned capital to shareholders by retiring 10.3% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Snap-on is modeled at 7.6% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $393.37 per share.