Snap-on Inc - Company Profile
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Business Description
Snap-on Inc (Snap-on) manufactures, distributes and markets tools, equipment, diagnostics, repair information and systems solutions for professional users.
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R&D Overview
Snap-on is involved in the innovation of novel products which cater to its customers with varying needs. The company has developed over 80,000 stock items and 10,000 specialty tools which were developed in-house. The company has developed several industry leading products such as digital scope, air ratchet, ratcheting screwdriver and has produced novel brands such as Flank Drive, Anal-O-Scope and EPIQ. The company also has an extensive patent list. As of December 2022, the company had over 2,780 active and pending patents outside the US and 870 active and pending patents in the US. In FY2022, Snap-on Inc spent US$60.1 million on its R&D, which as a percentage of sales stood at 1.2%, and decreased 1.6% YoY.
Business Segments
- Snap-on Tools Group
- Commercial and Industrial Group
- Financial Services
- Repair Systems and Information Group
Overview
Provides business services including vehicle services and repair services executed by technicians at company-owned service center. Operates through its global mobile tool distribution channel. In FY2022, the segment's capital expenditure stood at US$35 million, which grew 29.2% YoY.
Performance
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Overview
Provides tools, equipment, products and equipment repair services to industrial and commercial customers through direct, distributor and other non-franchise distribution channels. The products find application in various industries such as aviation and aerospace, natural resources, agriculture, construction, military and government, and power generation industries. In FY2022, the segment's capital expenditure stood at US$26 million, which grew 7% YoY.
Performance
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Overview
Comprises business operations of Snap-on Credit LLC, which is the company’s financial service business unit in the US. Generates revenue from various financial programs including installment sales and lease contracts arising from franchisees and business loans and vehicle leases to franchisees. Operates through SOC and the company’s international finance subsidiaries. In FY2022, the segment's capital expenditure stood at US$1.1 million, which grew 37.5% YoY.
Performance
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Overview
Provides vehicle service information, business management systems, electronic parts' catalogs, diagnostics equipment, and other solutions for vehicle service to managers, owners, independent repair shops, and OEM dealerships through direct and distributor channels. In FY2022, the segment's capital expenditure stood at US$18.3 million, which grew 18.8% YoY.
Performance
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Product Categories
Performance
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Performance
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Performance
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Geographical Segments
Performance
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Performance
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Performance
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