Intrinsic value of Snap-On - SNA

Previous Close

$186.72

  Intrinsic Value

$165.60

stock screener

  Rating & Target

hold

-11%

Previous close

$186.72

 
Intrinsic value

$165.60

 
Up/down potential

-11%

 
Rating

hold

We calculate the intrinsic value of SNA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  3.80
  3.92
  4.03
  4.13
  4.21
  4.29
  4.36
  4.43
  4.48
  4.54
  4.58
  4.62
  4.66
  4.69
  4.73
  4.75
  4.78
  4.80
  4.82
  4.84
  4.85
  4.87
  4.88
  4.89
  4.90
  4.91
  4.92
  4.93
  4.94
  4.94
Revenue, $m
  4,152
  4,315
  4,489
  4,674
  4,871
  5,080
  5,302
  5,536
  5,784
  6,047
  6,324
  6,616
  6,925
  7,250
  7,592
  7,953
  8,333
  8,733
  9,154
  9,597
  10,063
  10,553
  11,068
  11,609
  12,179
  12,777
  13,406
  14,067
  14,762
  15,491
Variable operating expenses, $m
  3,193
  3,313
  3,442
  3,579
  3,725
  3,880
  4,044
  4,218
  4,402
  4,596
  4,683
  4,900
  5,128
  5,369
  5,623
  5,890
  6,171
  6,467
  6,779
  7,107
  7,452
  7,815
  8,196
  8,597
  9,019
  9,462
  9,928
  10,418
  10,932
  11,472
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,193
  3,313
  3,442
  3,579
  3,725
  3,880
  4,044
  4,218
  4,402
  4,596
  4,683
  4,900
  5,128
  5,369
  5,623
  5,890
  6,171
  6,467
  6,779
  7,107
  7,452
  7,815
  8,196
  8,597
  9,019
  9,462
  9,928
  10,418
  10,932
  11,472
Operating income, $m
  960
  1,002
  1,047
  1,095
  1,146
  1,200
  1,258
  1,319
  1,383
  1,451
  1,641
  1,717
  1,797
  1,881
  1,970
  2,063
  2,162
  2,266
  2,375
  2,490
  2,611
  2,738
  2,871
  3,012
  3,160
  3,315
  3,478
  3,650
  3,830
  4,019
EBITDA, $m
  1,140
  1,184
  1,232
  1,283
  1,337
  1,394
  1,455
  1,519
  1,588
  1,660
  1,736
  1,816
  1,900
  1,990
  2,084
  2,183
  2,287
  2,397
  2,512
  2,634
  2,762
  2,896
  3,037
  3,186
  3,342
  3,507
  3,679
  3,861
  4,051
  4,252
Interest expense (income), $m
  51
  64
  69
  74
  79
  85
  91
  97
  104
  112
  119
  127
  136
  145
  155
  165
  175
  186
  198
  211
  224
  237
  252
  267
  283
  300
  317
  336
  355
  376
  397
Earnings before tax, $m
  895
  933
  973
  1,016
  1,061
  1,109
  1,160
  1,214
  1,271
  1,332
  1,513
  1,581
  1,652
  1,726
  1,805
  1,888
  1,976
  2,068
  2,164
  2,266
  2,373
  2,486
  2,605
  2,729
  2,860
  2,998
  3,142
  3,294
  3,454
  3,622
Tax expense, $m
  242
  252
  263
  274
  286
  299
  313
  328
  343
  360
  409
  427
  446
  466
  487
  510
  533
  558
  584
  612
  641
  671
  703
  737
  772
  809
  848
  889
  933
  978
Net income, $m
  654
  681
  710
  741
  775
  810
  847
  886
  928
  972
  1,105
  1,154
  1,206
  1,260
  1,318
  1,378
  1,442
  1,509
  1,580
  1,654
  1,733
  1,815
  1,901
  1,992
  2,088
  2,188
  2,294
  2,405
  2,521
  2,644

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,449
  5,663
  5,891
  6,134
  6,392
  6,667
  6,957
  7,265
  7,591
  7,935
  8,299
  8,683
  9,087
  9,514
  9,964
  10,437
  10,936
  11,461
  12,013
  12,594
  13,206
  13,849
  14,525
  15,236
  15,983
  16,768
  17,593
  18,461
  19,372
  20,330
Adjusted assets (=assets-cash), $m
  5,449
  5,663
  5,891
  6,134
  6,392
  6,667
  6,957
  7,265
  7,591
  7,935
  8,299
  8,683
  9,087
  9,514
  9,964
  10,437
  10,936
  11,461
  12,013
  12,594
  13,206
  13,849
  14,525
  15,236
  15,983
  16,768
  17,593
  18,461
  19,372
  20,330
Revenue / Adjusted assets
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
  0.762
Average production assets, $m
  1,059
  1,100
  1,145
  1,192
  1,242
  1,295
  1,352
  1,412
  1,475
  1,542
  1,613
  1,687
  1,766
  1,849
  1,936
  2,028
  2,125
  2,227
  2,334
  2,447
  2,566
  2,691
  2,822
  2,960
  3,106
  3,258
  3,419
  3,587
  3,764
  3,950
Working capital, $m
  1,316
  1,368
  1,423
  1,482
  1,544
  1,610
  1,681
  1,755
  1,834
  1,917
  2,005
  2,097
  2,195
  2,298
  2,407
  2,521
  2,642
  2,768
  2,902
  3,042
  3,190
  3,345
  3,509
  3,680
  3,861
  4,050
  4,250
  4,459
  4,679
  4,911
Total debt, $m
  1,273
  1,366
  1,466
  1,572
  1,685
  1,805
  1,932
  2,067
  2,209
  2,359
  2,518
  2,686
  2,863
  3,049
  3,246
  3,453
  3,671
  3,900
  4,141
  4,395
  4,662
  4,943
  5,239
  5,550
  5,876
  6,219
  6,580
  6,959
  7,357
  7,776
Total liabilities, $m
  2,381
  2,475
  2,574
  2,681
  2,793
  2,913
  3,040
  3,175
  3,317
  3,468
  3,627
  3,794
  3,971
  4,158
  4,354
  4,561
  4,779
  5,008
  5,250
  5,504
  5,771
  6,052
  6,347
  6,658
  6,984
  7,328
  7,688
  8,067
  8,466
  8,884
Total equity, $m
  3,068
  3,188
  3,317
  3,453
  3,599
  3,753
  3,917
  4,090
  4,274
  4,468
  4,672
  4,888
  5,116
  5,356
  5,610
  5,876
  6,157
  6,452
  6,763
  7,091
  7,435
  7,797
  8,177
  8,578
  8,998
  9,440
  9,905
  10,393
  10,907
  11,446
Total liabilities and equity, $m
  5,449
  5,663
  5,891
  6,134
  6,392
  6,666
  6,957
  7,265
  7,591
  7,936
  8,299
  8,682
  9,087
  9,514
  9,964
  10,437
  10,936
  11,460
  12,013
  12,595
  13,206
  13,849
  14,524
  15,236
  15,982
  16,768
  17,593
  18,460
  19,373
  20,330
Debt-to-equity ratio
  0.410
  0.430
  0.440
  0.460
  0.470
  0.480
  0.490
  0.510
  0.520
  0.530
  0.540
  0.550
  0.560
  0.570
  0.580
  0.590
  0.600
  0.600
  0.610
  0.620
  0.630
  0.630
  0.640
  0.650
  0.650
  0.660
  0.660
  0.670
  0.670
  0.680
Adjusted equity ratio
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563
  0.563

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  654
  681
  710
  741
  775
  810
  847
  886
  928
  972
  1,105
  1,154
  1,206
  1,260
  1,318
  1,378
  1,442
  1,509
  1,580
  1,654
  1,733
  1,815
  1,901
  1,992
  2,088
  2,188
  2,294
  2,405
  2,521
  2,644
Depreciation, amort., depletion, $m
  180
  183
  185
  188
  191
  194
  197
  201
  205
  208
  95
  99
  104
  109
  114
  119
  125
  131
  137
  144
  151
  158
  166
  174
  183
  192
  201
  211
  221
  232
Funds from operations, $m
  834
  864
  895
  929
  965
  1,004
  1,044
  1,087
  1,133
  1,181
  1,200
  1,253
  1,309
  1,369
  1,432
  1,498
  1,567
  1,640
  1,717
  1,798
  1,883
  1,973
  2,067
  2,166
  2,271
  2,380
  2,495
  2,616
  2,743
  2,876
Change in working capital, $m
  48
  52
  55
  59
  62
  66
  70
  74
  79
  83
  88
  93
  98
  103
  109
  114
  120
  127
  133
  140
  148
  155
  163
  172
  180
  190
  199
  210
  220
  231
Cash from operations, $m
  786
  812
  840
  871
  903
  937
  974
  1,013
  1,054
  1,097
  1,112
  1,160
  1,212
  1,266
  1,323
  1,383
  1,447
  1,514
  1,584
  1,658
  1,736
  1,818
  1,904
  1,995
  2,090
  2,190
  2,296
  2,406
  2,523
  2,645
Maintenance CAPEX, $m
  -60
  -62
  -65
  -67
  -70
  -73
  -76
  -80
  -83
  -87
  -91
  -95
  -99
  -104
  -109
  -114
  -119
  -125
  -131
  -137
  -144
  -151
  -158
  -166
  -174
  -183
  -192
  -201
  -211
  -221
New CAPEX, $m
  -40
  -42
  -44
  -47
  -50
  -53
  -57
  -60
  -63
  -67
  -71
  -75
  -79
  -83
  -87
  -92
  -97
  -102
  -107
  -113
  -119
  -125
  -131
  -138
  -145
  -153
  -160
  -169
  -177
  -186
Cash from investing activities, $m
  -100
  -104
  -109
  -114
  -120
  -126
  -133
  -140
  -146
  -154
  -162
  -170
  -178
  -187
  -196
  -206
  -216
  -227
  -238
  -250
  -263
  -276
  -289
  -304
  -319
  -336
  -352
  -370
  -388
  -407
Free cash flow, $m
  686
  708
  731
  756
  783
  811
  841
  873
  908
  944
  950
  991
  1,034
  1,079
  1,127
  1,177
  1,230
  1,287
  1,346
  1,408
  1,473
  1,542
  1,614
  1,691
  1,771
  1,855
  1,944
  2,037
  2,135
  2,237
Issuance/(repayment) of debt, $m
  86
  93
  100
  106
  113
  120
  127
  135
  142
  150
  159
  168
  177
  186
  196
  207
  218
  229
  241
  254
  267
  281
  295
  311
  327
  343
  361
  379
  398
  419
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  86
  93
  100
  106
  113
  120
  127
  135
  142
  150
  159
  168
  177
  186
  196
  207
  218
  229
  241
  254
  267
  281
  295
  311
  327
  343
  361
  379
  398
  419
Total cash flow (excl. dividends), $m
  772
  802
  831
  862
  896
  931
  968
  1,008
  1,050
  1,094
  1,109
  1,159
  1,211
  1,266
  1,323
  1,384
  1,448
  1,516
  1,587
  1,662
  1,740
  1,823
  1,910
  2,001
  2,097
  2,198
  2,304
  2,416
  2,533
  2,656
Retained Cash Flow (-), $m
  -114
  -120
  -128
  -137
  -145
  -154
  -164
  -173
  -183
  -194
  -205
  -216
  -228
  -240
  -253
  -267
  -281
  -296
  -311
  -327
  -344
  -362
  -381
  -400
  -421
  -442
  -465
  -488
  -513
  -539
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  658
  681
  703
  725
  750
  776
  805
  835
  867
  900
  905
  943
  983
  1,025
  1,070
  1,118
  1,168
  1,220
  1,276
  1,334
  1,396
  1,461
  1,529
  1,601
  1,677
  1,756
  1,840
  1,927
  2,020
  2,117
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  631
  624
  611
  597
  581
  564
  544
  522
  498
  472
  430
  402
  374
  344
  314
  284
  254
  225
  196
  170
  144
  121
  100
  82
  65
  51
  39
  30
  22
  16
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company's segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets. The Snap-on Tools Group consists of business operations primarily serving vehicle service and repair technicians. The Repair Systems & Information Group consists of business operations serving other professional vehicle repair customers, primarily owners and managers of independent repair shops and original equipment manufacturer (OEM) dealership service and repair shops. Financial Services consists of the business operations of its finance subsidiaries.

FINANCIAL RATIOS  of  Snap-On (SNA)

Valuation Ratios
P/E Ratio 19.8
Price to Sales 2.9
Price to Book 4.1
Price to Tangible Book
Price to Cash Flow 18.8
Price to Free Cash Flow 21.6
Growth Rates
Sales Growth Rate 3.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -7.5%
Cap. Spend. - 3 Yr. Gr. Rate 0.8%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 27.1%
Total Debt to Equity 38.6%
Interest Coverage 17
Management Effectiveness
Return On Assets 12.8%
Ret/ On Assets - 3 Yr. Avg. 11.9%
Return On Total Capital 15.8%
Ret/ On T. Cap. - 3 Yr. Avg. 14.8%
Return On Equity 21.7%
Return On Equity - 3 Yr. Avg. 20.7%
Asset Turnover 0.8
Profitability Ratios
Gross Margin 53.6%
Gross Margin - 3 Yr. Avg. 52.6%
EBITDA Margin 25.2%
EBITDA Margin - 3 Yr. Avg. 23.5%
Operating Margin 23%
Oper. Margin - 3 Yr. Avg. 21.3%
Pre-Tax Margin 21.6%
Pre-Tax Margin - 3 Yr. Avg. 19.8%
Net Profit Margin 14.7%
Net Profit Margin - 3 Yr. Avg. 13.4%
Effective Tax Rate 30.5%
Eff/ Tax Rate - 3 Yr. Avg. 31.1%
Payout Ratio 27.1%

SNA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SNA stock intrinsic value calculation we used $4000.3 million for the last fiscal year's total revenue generated by Snap-On. The default revenue input number comes from 0001 income statement of Snap-On. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SNA stock valuation model: a) initial revenue growth rate of 3.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SNA is calculated based on our internal credit rating of Snap-On, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Snap-On.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SNA stock the variable cost ratio is equal to 77%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SNA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Snap-On.

Corporate tax rate of 27% is the nominal tax rate for Snap-On. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SNA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SNA are equal to 25.5%.

Life of production assets of 17 years is the average useful life of capital assets used in Snap-On operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SNA is equal to 31.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2953.9 million for Snap-On - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 56.402 million for Snap-On is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Snap-On at the current share price and the inputted number of shares is $10.5 billion.

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COMPANY NEWS

▶ Is Snap-On an Ideal Dividend Growth Stock? 3 Pros, 3 Cons   [Sep-13-18 01:14PM  InvestorPlace]
▶ Snap-on to Present at CL King 2018 Best Ideas Conference   [Sep-06-18 09:00AM  Business Wire]
▶ Snap-on Incorporated Declares Quarterly Dividend   [Aug-02-18 04:15PM  Business Wire]
▶ Snap-on to Present at Jefferies 2018 Industrials Conference   [Jul-31-18 04:15PM  Business Wire]
▶ Why Snap-on Stock Popped 10% Today   [Jul-19-18 05:11PM  Motley Fool]
▶ Snap-On: 2Q Earnings Snapshot   [06:37AM  Associated Press]
▶ Bet on These 5 Stocks With Strong Sales Growth Right Away   [Jun-22-18 11:43AM  InvestorPlace]
▶ Star Confirms GADSS Compatibility   [Jun-11-18 09:11AM  GlobeNewswire]
▶ Star Announces STAR-ISAMM   [Jun-04-18 01:00PM  GlobeNewswire]
▶ Rolling Out the 2018 Mid Cap Dividend Growers Portfolio   [May-16-18 11:52AM  TheStreet.com]
▶ Star Appoints Interim CEO and Updates R&D   [May-15-18 01:48PM  GlobeNewswire]
▶ Industrial Dividend Stocks Of The Month: Kennametal And More   [May-12-18 12:02PM  Simply Wall St.]
▶ Star Appoints VP-Sales   [May-09-18 02:43PM  GlobeNewswire]
▶ Star Reprices Warrants and Grants Stock Options   [May-02-18 02:02PM  GlobeNewswire]
▶ Snap-on Incorporated Declares Quarterly Dividend   [Apr-26-18 04:30PM  Business Wire]
▶ Snap-On CEO Sees Expansion Opportunities in Mining, Aviation   [Apr-23-18 10:18AM  Bloomberg Video]
▶ Snap-on (SNA) in Focus: Stock Moves 6.2% Higher   [Apr-20-18 08:51AM  Zacks]
▶ American Express the big winner today   [03:49PM  CNBC Videos]
▶ Snap-on Announces First Quarter 2018 Results   [06:30AM  Business Wire]
▶ 5 Amazing Earnings Charts This Week   [Apr-17-18 09:02PM  Zacks]
▶ Moving Average Crossover Alert: Snap-on (SNA)   [Apr-16-18 09:14AM  Zacks]
▶ Better Profits Than Meet The Eye At Snap-On   [Apr-11-18 11:47AM  Forbes]
▶ Star Navigation Remembers MH370   [Mar-08-18 09:50AM  GlobeNewswire]
▶ Snap-on Announces Consummation of Tender Offer   [Feb-27-18 11:05AM  Business Wire]
▶ Snap-on Incorporated Declares Quarterly Dividend   [Feb-15-18 04:15PM  Business Wire]
▶ Snap-on Earnings: Q4 Is Worse Than It Looks   [Feb-13-18 03:04PM  Barrons.com]
▶ Snap-On tops Street 4Q forecasts   [06:53AM  Associated Press]
▶ Snap-on CEO: Expanding manufacturing jobs in America   [Jan-31-18 06:40AM  CNBC Videos]
▶ 3 Top Stocks Wall Street Is Overlooking   [Jan-30-18 07:16AM  Motley Fool]
▶ Star Navigation Announces Option Grants   [Jan-29-18 05:00PM  GlobeNewswire]
▶ [$$] The Monkey Wrench in Snap-on's Strategy   [Jan-27-18 12:01AM  Barrons.com]
▶ Trump hits solar panels, washing machines with tariffs   [Jan-23-18 10:35AM  Yahoo Finance Video]
▶ Star Navigation Announces Completion of Private Placement   [Jan-11-18 04:34PM  GlobeNewswire]
▶ Star Navigation M.M.I. Division Update   [Jan-09-18 05:00PM  GlobeNewswire]
▶ 5 Dividend Growth Stocks to Buy for Bigger Returns   [Jan-03-18 11:05AM  InvestorPlace]
▶ Star Navigation Shares Listed on OTCQB   [Jan-02-18 03:23PM  GlobeNewswire]
▶ ETFs with exposure to Snap-On, Inc. : December 13, 2017   [Dec-13-17 01:58PM  Capital Cube]
▶ Pinchuk Says U.S. Manufacturers Are Feeling Positivity   [Dec-08-17 08:15AM  Bloomberg Video]
▶ Star Navigation Announces STAR V-trk Shipments   [Dec-04-17 07:15AM  GlobeNewswire]
▶ ETFs with exposure to Snap-On, Inc. : November 27, 2017   [Nov-27-17 03:47PM  Capital Cube]
▶ Star Navigation Provides India Update   [Nov-20-17 02:50PM  GlobeNewswire]
▶ Industrial Dividend Stocks Investors Love   [Nov-18-17 11:02AM  Simply Wall St.]

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