Snap-on Inc

SNA: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Snap-on Earnings: Near-Term Macroeconomic Headwinds Don’t Materially Alter Our Long-Term Thesis

Krzysztof Smalec

Feb 7, 2025

Narrow-moat-rated Snap-on ended 2024 with a solid fourth quarter, as its full-year adjusted earnings per share of $19.51 beat our estimate by $0.12. After rolling our model forward one year, we’ve raised our fair value estimate to $240 per share from $237, mostly due to the time value of money. However, we continue to see the name as overvalued, with shares currently trading in 1-star territory.

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Snap-on Inc

Snap-on Earnings: Near-Term Macroeconomic Headwinds Don’t Materially Alter Our Long-Term Thesis

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