Snap-on
Snap-on Incorporated is a leading global designer, manufacturer, and marketer of high-quality tools, equipment, diagnostics, repair information, and systems solutions for professional users in critical industries such as automotive service, aviation, aerospace, military, natural resources, and manufacturing.[1][2][3] Founded in 1920 and headquartered in Kenosha, Wisconsin, the company operates in more than 130 countries, employs approximately 13,000 people, and reported net sales of $4.7 billion in 2024, supported by 15 manufacturing facilities in the United States.[1][4] The company traces its origins to Milwaukee, Wisconsin, where inventors Joseph Johnson and William Seidemann established Snap-on Tools Corporation with the introduction of innovative interchangeable socket wrenches under the slogan "Five do the work of Fifty," revolutionizing tool efficiency for mechanics.[5] Key early milestones include the 1923 patent for the No. 6 Ratchet, rapid expansion to 17 branches and 165 salesmen by 1925, and the establishment of its first international subsidiary, Snap-on Tools of Canada Ltd., in 1931.[5] Snap-on began paying uninterrupted quarterly dividends in 1939 and achieved a significant milestone by listing on the New York Stock Exchange (ticker: SNA) in 1978, followed by reaching $1 billion in annual sales by 1987.[5] Throughout its history, Snap-on has emphasized innovation and expansion, introducing pioneering technologies such as the Flank Drive® wrench design in 1965 for better torque application and cold forming manufacturing processes in the 1970s to enhance tool durability.[5] The 1990s marked a period of strategic acquisitions, including the Swedish toolmaker Bahco®, which bolstered its global portfolio, alongside growth into specialized markets like aviation, motorsports, and heavy-duty equipment.[5] Today, Snap-on maintains a distinctive business model centered on mobile franchise operations, where independent dealers deliver tools directly to end-users via customized vans, fostering strong customer relationships in professional workshops worldwide.[5][6] The company continues to invest in advanced diagnostics and repair solutions, adapting to evolving industry needs in vehicle electrification and precision manufacturing.[7][8]Overview
Founding and Headquarters
Snap-on Incorporated was founded on April 21, 1920, in Milwaukee, Wisconsin, by Joseph Johnson and William Seidemann (often referred to as Bill Seidemann), who established the company as the Snap-on Wrench Company to address the needs of early automotive mechanics.[5] The initial focus was on developing and selling interchangeable snap-on wrenches, which allowed for quick attachment and detachment of sockets, marking an early innovation in tool efficiency for vehicle repair.[5] From the outset, the business emphasized high-quality, durable tools tailored for professional mechanics in the burgeoning transportation industries, particularly automotive service.[5] As the company experienced rapid growth in demand for its products during the 1920s, it sought to consolidate operations and expand manufacturing capacity. In 1929, Snap-on purchased an 11-acre site on the outskirts of Kenosha, Wisconsin, to centralize production and administrative functions previously scattered across locations including Milwaukee and Chicago. The headquarters officially relocated to Kenosha in 1930, where it has remained, supporting the company's scaling operations and proximity to key industrial hubs.[5] Today, Snap-on is headquartered at 2801 80th Street in Kenosha, Wisconsin, under the leadership of Nicholas T. Pinchuk, who serves as Chairman and Chief Executive Officer since 2001 and 2007, respectively.[9] The company's Chief Financial Officer is Aldo J. Pagliari, who has held the position since 2003 and oversees financial strategy and operations.[9] As of 2025, Snap-on employs approximately 13,000 associates worldwide, reflecting its global scale while rooted in its original mission of professional-grade tools.[1]Financial Performance
Snap-on Incorporated, a publicly traded company on the New York Stock Exchange under the ticker symbol SNA since February 27, 1978, has demonstrated consistent financial stability as a leading manufacturer of tools and equipment.[5] The company's shares have shown strong long-term performance, with a five-year compound annual growth rate of approximately 18% and total returns of 132% over the past five years as of November 2025, outperforming broader market benchmarks like the S&P 500.[10][11] In fiscal year 2024, ending December 28, 2024, Snap-on reported net sales of $4,707.4 million, a slight decrease of 0.5% from 2023, primarily due to lower volumes offset by pricing actions and currency effects.[12] Including financial services revenue, total revenue reached $5,108.4 million.[13] Net earnings for the year were $1,043.9 million, up 3.2% from the prior year, while operating income totaled $1,345.7 million, reflecting a 2.7% increase and an overall operating margin of 26.3%.[13][12] These results were supported by productivity improvements and cost management, with diluted earnings per share rising 4.0% to $19.51.[12] As of September 27, 2025, Snap-on's trailing twelve-month revenue stood at $5.14 billion, indicating steady growth amid ongoing operational enhancements.[14] In the third quarter of 2025, net sales increased 3.8% to $1,190.8 million compared to the same period in 2024, driven by 3.0% organic growth and favorable currency translation.[15] Reflecting confidence in its financial health, Snap-on announced a 14% increase in its quarterly dividend to $2.44 per share in November 2025, payable on December 10, 2025, to shareholders of record on November 21, 2025; this marks the company's 16th consecutive annual dividend increase.[16] As of November 7, 2025, the stock closed at $343.71 per share, with a forward dividend yield of about 2.84%.[17][18]| Key Financial Metrics (2024) | Amount (in millions USD) | Year-over-Year Change |
|---|---|---|
| Net Sales | 4,707.4 | -0.5% |
| Total Revenue (incl. Financial Services) | 5,108.4 | N/A |
| Net Earnings | 1,043.9 | +3.2% |
| Operating Income | 1,345.7 | +2.7% |