1. DeWalt for top-tier professional mechanics.

2. Caterpillar for professional-grade hand and power tools.

3. The Porsche of professional mechanics' tools.

• Hand Tools: Manufactures premium wrenches, sockets, ratchets, screwdrivers, and pliers primarily for professional use.
• Power Tools: Produces a range of cordless and pneumatic impact wrenches, drills, grinders, and other power-assisted tools.
• Diagnostic & Shop Equipment: Supplies automotive diagnostic scanners, wheel balancers, alignment systems, vehicle lifts, and air conditioning service equipment.
• Tool Storage: Offers durable toolboxes, roll carts, and modular storage systems designed to organize and protect professional tools.
• Specialty Tools & Equipment: Provides specialized tools and machinery for industries such as aviation, industrial, and heavy-duty vehicles.

Snap-on (Symbol: SNA) - Major Customers

• Professional Automotive Technicians: This is the largest customer segment, served predominantly through Snap-on's mobile franchise network. These customers include mechanics and technicians working in independent garages, automotive dealerships, tire centers, body shops, and other vehicle service centers. They purchase a wide range of hand tools, power tools, diagnostic equipment, and tool storage solutions for their daily work.
• Industrial and Commercial Clients: Snap-on also serves larger organizations across various industries. These clients include companies in aerospace, manufacturing, natural resources (e.g., oil & gas, mining), utilities, and rail. Additionally, governmental entities (e.g., military, federal, state agencies) and educational institutions (e.g., trade schools, technical colleges) fall into this category, purchasing specialized tools, equipment, and customized solutions.
• Vehicle Repair Shop Owners and Managers: Beyond individual technicians, Snap-on provides a suite of products and services directly to the owners and managers of vehicle repair facilities. This includes advanced diagnostic systems, shop management software, information services, and larger shop equipment designed to improve efficiency and profitability for the entire operation.

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Nicholas T. Pinchuk, Chairman and Chief Executive Officer

Nicholas T. Pinchuk has been Snap-on's Chief Executive Officer since December 2007 and Chairman of the Board since April 2009. He joined Snap-on in 2002, initially serving as Senior Vice President and President of the Worldwide Commercial and Industrial Group. Before joining Snap-on, Mr. Pinchuk held various executive operational, planning, and financial management positions at United Technologies Corporation, including President of Global Refrigeration Operations for Carrier Corporation and President of Asia-Pacific Air Conditioning Operations. He also held financial and engineering managerial staff positions at Ford Motor Company. Mr. Pinchuk served as an officer in the U.S. Army in Vietnam.

Aldo J. Pagliari, Senior Vice President – Finance and Chief Financial Officer

Aldo J. Pagliari is the Senior Vice President – Finance and Chief Financial Officer of Snap-on Incorporated, a position he has held since March 2010. He joined Snap-on in 2002 as group controller/director of finance and planning for the Commercial and Industrial Group. Prior to his current role, he was president of the Snap-on Equipment Division, responsible for global sales, service, marketing, manufacturing, and product development. Before Snap-on, Mr. Pagliari held several senior finance and business development roles at United Technologies, with responsibilities across European, Latin American, and Asia-Pacific regions.

Eugenio Amador, President – Equipment

Eugenio Amador serves as the President of Equipment at Snap-on.

Jesus Arregui, Senior Vice President and President – Commercial Group

Jesus Arregui holds the position of Senior Vice President and President of the Commercial Group at Snap-on.

The accelerating transition of the automotive industry towards Electric Vehicles (EVs) and the widespread integration of Advanced Driver-Assistance Systems (ADAS) represent a clear emerging threat to Snap-on. This shift fundamentally alters the diagnostic and repair needs of vehicles, requiring specialized tools and equipment that differ significantly from those used for traditional Internal Combustion Engine (ICE) vehicles.

As EV adoption rates increase and ADAS becomes standard across more vehicle models, demand for Snap-on's legacy tools, which constitute a significant portion of its current product portfolio, could diminish. While Snap-on has been actively developing new tools and diagnostic solutions for EVs and ADAS, the speed and scale of this industry transformation challenge the company to rapidly innovate, adapt its product lines, and ensure its vast franchisee network and professional customers are equipped and trained for these new technologies. A failure to keep pace with this accelerating technological shift could lead to a decline in market share and revenue from traditional product offerings if the transition outpaces their adaptation strategy.

Snap-on (SNA) operates in several addressable markets related to professional tools, equipment, diagnostics, and repair information. The market sizes for their main products and services, by region, are as follows:

• Automotive Repair and Maintenance Market: The global automotive repair and maintenance market size was valued at USD 966.04 billion in 2024 and is projected to grow to USD 1047.75 billion in 2025.
• Vehicle Diagnostics Market:
  • The global vehicle diagnostics market size was valued at approximately USD 42.19 billion in 2024 and is projected to reach USD 64.22 billion by 2030.
  • Another estimate for the global vehicle diagnostics market size was USD 47.96 billion in 2024, with a projection to reach USD 164.29 billion by 2032.
  • The global automotive diagnostic scan tool market size was estimated at USD 41.04 billion in 2024 and is anticipated to reach around USD 82.25 billion by 2034.
  • In 2023, the Asia Pacific region accounted for USD 16.97 billion of the global automotive diagnostic scan tools market.
• Tool Storage Products Market:
  • The global tool storage products market was valued at approximately USD 2.1 billion in 2024 and is projected to reach USD 4.3 billion by 2035.
  • Another report indicated the global tool storage products market size was valued at USD 1.71 billion in 2023 and is expected to reach USD 2.31 billion by 2029.
  • North America held the largest share in the global tool storage products market, valued at over USD 617 million in 2023. The United States market size for tool storage products is estimated at USD 574.64 million in 2025.
• Industrial Hand Tools Market:
  • The global industrial hand tools market was valued at US$ 22.2 billion in 2022 and is estimated to reach US$ 34.5 billion by the end of 2031.
  • Another source valued the global industrial hand tools market size at USD 23.48 billion in 2023, projected to hit USD 34.01 billion by the end of 2032.
  • The Asia Pacific region held the largest share of the industrial hand tools market in 2022.
• Automotive Tools Market (encompassing hand tools, power tools, and diagnostic tools for automotive use):
  • The global automotive tools market size was valued at USD 24.7 billion in 2024 and is expected to grow to USD 34.7 billion by 2035.
  • The global auto repair tools market size was valued at USD 22.2 billion in 2023 and is expected to reach USD 35.4 billion by 2033.
  • Asia Pacific held the dominant share in the automotive maintenance tools market, accounting for up to 41% of the market.

Snap-on (SNA) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Growth in Financial Services Loan Portfolio: Snap-on's financial services segment has shown consistent revenue increases, primarily reflecting the expansion of its loan portfolio. This growth in financing programs facilitates product sales and supports the company's franchise business.
2. Increased Demand for Diagnostic and Information Products & OEM Dealership Solutions: The company anticipates accelerating demand for its diagnostic and OEM (Original Equipment Manufacturer) dealership solutions. This includes higher sales of diagnostic and information products to independent repair shop owners and managers.
3. New Product Innovation and Launches: Snap-on is focused on new product innovation and successful product pivots. Recent examples include the launch of the TAC2 torque and angle click wrench and a new 14.4-volt 3-inch extra-long cordless ratchet, which are contributing to sales momentum.
4. Expansion in Critical Industries: Snap-on has observed strong sales in critical industries such as defense and aviation sectors, and aims to further expand its presence in these and other industrial applications.
5. Strategic Acquisitions: While organic growth can fluctuate, strategic acquisitions are viewed as a method for Snap-on to gain access to new technologies, markets, and capabilities, thereby contributing to overall revenue growth.

1. Share Repurchases

• Snap-on repurchased approximately $294.7 million of common stock in fiscal year 2023.
• Approximately $290 million was spent on share repurchases in 2024.
• In August 2024, Snap-on's board of directors authorized a new share repurchase program of up to $500 million, replacing the previous program which had approximately $260 million remaining.

2. Share Issuance

• Issuances under Snap-on's equity plans totaled 44,937 shares in 2022, 46,510 shares in 2023, and 42,687 shares in 2024.

4. Outbound Investments

• In February 2021, Snap-on acquired Dealer-FX Group, Inc. for a cash purchase price of $200.1 million.
• Snap-on acquired Mountz, Inc. in November 2023.

5. Capital Expenditures

• Capital expenditures totaled $70.1 million in fiscal year 2021, $84.2 million in 2022, $95.0 million in 2023, and $83.5 million in 2024.
• Expected capital expenditures for 2025 are approximately $100 million.
• The capital expenditures were primarily focused on strategic growth initiatives, Value Creation Processes (including safety, quality, customer connection, innovation, and RCI), new product development, efficiency, and enhancing manufacturing and distribution capabilities.