Stanley Black & Decker

SWK · NYSE · Industrials · Financials, fiscal 2016 to 2025

SWK · Last close · October 26, 2026

$99.37

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%.

STANLEY BLACK & DECKER, INC. Latest fiscal year ended January 3, 2026 10-K filed February 24, 2026 · 0000093556-26-000009 Updated October 9, 2026

Revenue

$15.1B

1.5%

Net margin

2.7%

0.7 pts

Net income

$402M

36.6%

Free cash flow

$688M

8.7%

Return on capital

6.2%

1.3 pts

Market cap

$15.0B

Oct 26 close

P/E

24.2x

On $4.10 EPS, 4 qtrs

Net margin is net income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

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.

Its biggest risks, as it describes them

Tariffs and other trade rules, since it makes and sources products in many countries.
Changes in what customers want, and its reliance on large retail customers that keep consolidating.
Strong global competition in tools and outdoor products.
Disruption at its factories or in its information systems.
Writing down the value of goodwill or trade names it carries on its books.

From Stanley Black & Decker's annual report on Form 10-K, filed February 24, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new 10-K.

Charts show fiscal years, from the 10-K filings.

Revenue and margins

Revenue

US$ billions, fiscal years

Margins

Percent of revenue

GrossOperatingNetFree cash flow

Net income and earnings per share

From fiscal 2016 to 2025, earnings per share fell 9.5% a year and net income 9.3% a year, as new shares raised the share count by 2% and diluted each share's earnings.

Net income

US$ billions, fiscal years; loss years in red.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Cash flow

Free cash flow

US$ billions. Cash from operations minus capital expenditure; negative years in red.

Payouts and share count

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Valuation

Two ways to value Stanley Black & Decker yourself, both starting from its filings: a discounted cash flow model and the price-to-earnings method.

Discounted cash flow (DCF)

A discounted cash flow (DCF) model values a business as the cash it may generate in future, discounted back to today. The starting figures come from Stanley Black & Decker's 10-K (or, for net cash and shares, its latest 10-Q) and the assumptions are yours: start from one of three example scenarios, then change any figure to see what it implies for a share, and how that compares with the last share price.

Value per share on three example scenarios, from Stanley Black & Decker's fiscal 2025 free cash flow of $688M, net cash of −$5.6B at January 3, 2026 and 152 million diluted shares, from its filings. The scenarios are fitted to Stanley Black & Decker: the base scenario's growth in years 1 to 5 is its revenue growth over the last 3 years, -3.7% a year, kept between 0% and 20%; the cautious and optimistic ones are lower and higher, and growth in years 6 to 10 is halfway to the long-run rate. The base scenario's discount rate is 10%: 9% for a business of moderate risk (Industrial Machinery & Supplies & Components), plus 1 point for unsteady results (a loss in fiscal 2023); the cautious and optimistic ones use a point more and a point less. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target.

From the filings

Starting free cash flow, US$ millions

Cash from operations minus capital spending in fiscal 2025.

Net cash, US$ millions

Cash and short-term investments minus debt and finance leases at January 3, 2026. Negative means net debt.

Diluted shares, millions

Weighted-average diluted shares in fiscal 2025.

Your assumptions

Start from

Fitted to Stanley Black & Decker's own revenue growth, as above. Cautious: growth of -2% then 0% a year, 2% after year 10, a 11% discount rate. Base: growth of 0% then 1% a year, 2.5% after year 10, a 10% discount rate. Optimistic: growth of 2% then 2.5% a year, 3% after year 10, a 9% discount rate.

Free cash flow growth, years 1 to 5 (% a year)

Free cash flow growth, years 6 to 10 (% a year)

Growth after year 10 (% a year)Long-run growth forever after year 10. Usually close to inflation, and always below the discount rate.

Discount rate (% a year)The yearly return an investor wants for the risk. A higher rate gives a lower value.

Value per share on these assumptions

—

Last close, October 26, 2026: $99.37
Value on these assumptions, against the last close: —

Cash flows in years 1 to 10, valued today: —
Everything after year 10, valued today: —
Plus net cash: —
Share of value from after year 10: —

Projected free cash flow

US$ billions. Each column is one year's projected free cash flow, split into what it is worth today and the part removed by discounting.

Value todayRemoved by discounting

How the value changes with two assumptions

Value per share in US$, with the growth rates above. The highlighted cell matches the current assumptions.

How the model works. Free cash flow grows at the first rate for five years and the second rate for five more, and each year is discounted at the discount rate. Everything after year 10 is valued as year-10 cash flow × (1 + growth after year 10) ÷ (discount rate − growth after year 10), discounted back ten years. Net cash is added and the total is divided by diluted shares. The result depends entirely on the assumptions. It is not a forecast, a price target or a recommendation. The last close is the consolidated US closing price, from Databento.

Price-to-earnings (P/E) method

Another common way to value a company is to multiply its earnings per share by a price-to-earnings (P/E) multiple: the number of years of today's earnings an investor pays for a share. A higher multiple usually means investors expect earnings to grow. Choose a multiple, for example from similar companies, to see the value it gives.

Value per share on three example scenarios, from Stanley Black & Decker's earnings per share of $4.10 (over the last four quarters). Each grows earnings for a year at the cash flow scenarios' rates and applies a multiple to next year's earnings: 26.7×, the middle of Stanley Black & Decker's own P/E today, its peers' median and its sector's median (the Industrials median) for the base scenario, 20% less and more for the cautious and optimistic ones. The price is brought back a year at 11%, 10% and 9%. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target.

Earnings per share, US$

Diluted earnings per share over the four quarters to July 4, 2026, from the 10-Qs and 10-K.

P/E multiple

P/E today is the last close divided by the latest earnings per share, the four quarters' where available. Peers: Otis Worldwide, Illinois Tool Works, W. W. Grainger, Parker Hannifin.

Earnings growth in the years ahead (% a year) Starts at Stanley Black & Decker's revenue growth over the last 3 years, -3.7% a year, kept between 0% and 20%, as the base scenario does.

Earnings per share in the years ahead, US$

Year 1Year 2Year 3Year 4Year 5

Type your own estimate for any year; the years after it carry on at the growth rate.

Apply the multiple to earnings

A multiple on a future year's earnings gives the price then, brought back to today at the discount rate below.

Discount rate (% a year) The yearly return an investor wants for the risk, as in the cash flow model.

Value per share today at this multiple

—

Last close, October 26, 2026: $99.37
Value at this multiple, against the last close: —
Stanley Black & Decker's P/E at the last close: 24.2×

Company	Last close	Earnings per share	P/E today
W. W. GraingerGWW	$1,357.60	$39.21	34.6×
Parker HannifinPH	$904.43	$28.48	31.8×
Illinois Tool WorksITW	$276.22	$11.03	25.0×
Stanley Black & DeckerSWK	$99.37	$4.10	24.2×
Otis WorldwideOTIS	$75.27	$3.89	19.3×

How the P/E method works. Value per share is earnings per share times the multiple. On a future year's earnings, that gives the price in that year, which is brought back to today at the discount rate: price ÷ (1 + discount rate) for each year ahead. It is quick and easy to compare across companies, but it ignores debt and cash, and earnings can swing with one-off gains and charges, so a multiple says most about steady, profitable businesses. Like the cash flow model, the result depends entirely on the assumptions you choose. It is not a forecast, a price target or a recommendation.

Balance sheet

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Cash and short-term investments	142	396	449	290	280
Debt incl. finance leases	6,596	7,457	7,177	6,103	5,864
Net debt (negative means net cash)	6,454	7,061	6,728	5,812	5,584
Net debt to EBITDA	3.0x	9.5x	10.9x	5.0x	4.3x
Debt to 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	0.3x	0.3x	0.4x	0.4x	0.3x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Insider trades

Over the 12 months between October 27, 2025 and October 26, 2026, no insider bought Stanley Black & Decker shares on the open market, and 2 insiders sold $917,959.

Date	Insider	Trade	Shares	Price	Value	Filing
Aug 7, 2026	Scot GreulachChief Accounting Officer	Sold	1,015	$103.61	$105,164	Form 4
Nov 6, 2025	Janet LinkSVP, General Counsel & Sec'y	Sold	11,766	$69.08	$812,795	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Piotroski F-score

The F-score counts how many of nine simple tests of profitability, funding and efficiency a company passed in a year (Piotroski, 2000). The more tests passed, the stronger the year: 8 or 9 is strong, 0 to 2 weak. Companies that report no gross profit are scored on the other eight.

Test	FY23	FY24	FY25
Net income is positive	Fail	Pass	Pass
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Fail	Pass	Pass
Cash from operations exceeds net income	Pass	Pass	Pass
Debt fell relative to assets	Fail	Pass	Fail
Current ratio rose	Fail	Pass	Fail
Share count didn't rise	Pass	Fail	Fail
Gross margin rose	Fail	Pass	Pass
Revenue rose relative to assets	Pass	Pass	Pass
F-score	4 of 9	8 of 9	6 of 9
Accruals ratio	−6.2%	−3.6%	−2.6%

The accruals ratio is net income minus cash from operations, over average total assets.

Compare

Put Stanley Black & Decker side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Stanley Black & Decker	FY25	−1.5%	—	4.5%	6.2%	4.3x	6
Otis Worldwide	FY25	1.2%	14.8%	10.0%	116.6%	3.0x	5	Compare
Illinois Tool Works	FY25	0.9%	26.3%	16.9%	30.2%	1.8x	6	Compare
W. W. Grainger	FY25	4.5%	13.9%	7.4%	32.3%	0.7x	6	Compare
Parker Hannifin	FY26	8.3%	23.6%	18.2%	17.6%	1.3x	9	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score above.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	11,594	12,967	13,982	12,913	12,750	15,281	16,947	15,781	15,366	15,130
Revenue growth	3.8%	11.8%	7.8%	−7.7%	−1.3%	19.9%	10.9%	−6.9%	−2.6%	−1.5%
Gross profit	4,267	4,778	4,851	4,806	4,405	5,092	4,284	3,933	4,514	4,588
Research and development	204	252	276	241	200	276	357	362	329	321
Operating income	1,826	1,996	1,882	1,994	2,176	—	—	—	—	—
Net income	968	1,227	605	956	1,234	1,689	1,062	−310	294	402
Diluted EPS (US$)	6.53	8.05	3.85	6.11	7.46	10.16	6.76	−2.07	1.95	2.65
Diluted shares (millions)	148	152	157	156	162	165	157	150	151	152
Cash flow
Cash from operations	1,186	668	1,261	1,506	2,022	663	−1,460	1,191	1,107	971
Capital expenditure	347	442	492	425	348	519	530	339	354	283
Free cash flow	838	226	769	1,081	1,674	144	−1,990	853	753	688
Dividends paid	331	363	385	402	432	475	466	483	491	501
Share buybacks	374	29	527	28	26	34	2,323	16	18	20
Acquisitions	59	2,584	525	685	1,324	2,044	72	0	0	0
Stock-based compensation	81	79	76	89	109	118	91	84	105	94
Balance sheet at fiscal year end
Cash and short-term investments	1,132	638	289	298	1,242	142	396	449	290	280
Debt incl. finance leases	3,827	3,811	4,198	3,517	4,247	6,596	7,457	7,177	6,103	5,864
Total assets	15,655	19,098	19,408	20,597	23,566	28,180	24,963	23,664	21,849	21,244
Total liabilities	9,255	10,793	11,568	11,454	12,500	16,588	15,249	14,608	13,129	12,189
Shareholders' equity	6,367	8,302	7,836	9,136	11,060	11,590	9,712	9,056	8,720	9,055
Margins and ratios
Gross margin	36.8%	36.9%	34.7%	37.2%	34.5%	33.3%	25.3%	24.9%	29.4%	30.3%
Operating margin	15.8%	15.4%	13.5%	15.4%	17.1%	—	—	—	—	—
Net margin	8.3%	9.5%	4.3%	7.4%	9.7%	11.1%	6.3%	−2.0%	1.9%	2.7%
Free cash flow margin	7.2%	1.7%	5.5%	8.4%	13.1%	0.9%	−11.7%	5.4%	4.9%	4.5%
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 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%
Net debt to EBITDA	1.3x	1.4x	1.8x	1.3x	1.2x	3.0x	9.5x	10.9x	5.0x	4.3x

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Stanley Black & Decker's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Stanley Black & Decker.