Snap-on
21 named things its latest annual report says its results depend on, each in the company's own words. 13 of them are also named by other companies we've read.
Customers
Vehicle repair market
earns fromnamed as a riskWe believe sales of many of our products are dependent on the general aging of vehicles, increases in vehicle complexity, changes in vehicle technologies and the number of vehicles on the road.Risk factors (Item 1A)
OEMs and OEM dealerships
earns fromSnap-on also sells these products and services directly to OEMs and their franchised dealers.Business (Item 1)
Partners and platforms
Snap-on franchisees
depends on · Approximately 38% of our consolidated net revenuesnamed as a riskSnap-on’s success is dependent on its relationships with franchisees, individually and collectively, as they are the primary sales and service link between the company and vehicle service and repair technicians, who are an important class of end users for Snap-on’s products and services.Risk factors (Item 1A)
Other companies
$900 million multicurrency revolving credit facility
depends on · $900 millionnamed as a riskOur $900 million multicurrency revolving credit facility contains an accordion feature that, subject to certain customary conditions, may allow the maximum commitment to be increased by up to $450 million with the approval of the lenders providing additional commitments.Risk factors (Item 1A)
Snap-on Credit LLC (SOC)
insures or lends tonamed as a riskThrough SOC, financing is available to U.S. franchisees, including financing for van leases, working capital loans and loans to help enable new franchisees to fund the purchase of the franchise or the expansion of an existing franchise.Business (Item 1)
Commercial & Industrial Group and Repair Systems & Information Group goodwill
concentrated innamed as a riskWe have a substantial amount of goodwill and purchased intangible assets, almost all of which are booked in the Commercial & Industrial Group and in the Repair Systems & Information Group.Risk factors (Item 1A)
Places
Non-U.S. markets
earns from · Approximately 29% of our revenues in 2025named as a riskApproximately 29% of our revenues in 2025 were generated outside of the United States.Risk factors (Item 1A)
Also named by ABT, DELL, DOV, IBM, ITW, LRCX, MA, MDLZ and 4 more
United States
concentrated in · approximately 3,400 routes in the United StatesAs of 2025 year end, Snap-on’s total route count was approximately 4,700, including approximately 3,400 routes in the United States.Business (Item 1)
Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more
China
named as a riskThese include political, economic and social instability, such as acts of war, armed conflicts, civil disturbance or acts of terrorism, local labor conditions, and adverse changes in trade relations with China, Canada, the European Union and other nations.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Hazards
Russia-Ukraine war
named as a riskRisks related to this situation include supply chain inefficiencies, price increases and shortages of raw materials and components, increased trade sanctions, exchange rate volatility, energy shortages in Europe, an increase in cybersecurity incidents, and potential impairment of certain assets.Risk factors (Item 1A)
Also named by ADSK, ATR, AVAV, CSCO, CTVA, EMR, FIS, FLO and 21 more
Commodities and inputs
Steel
exposed to its pricenamed as a riskThe principal raw material used in the manufacture of our products is steel, which we purchase in competitive, price-sensitive markets.Risk factors (Item 1A)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Natural gas
exposed to its pricenamed as a riskSnap-on is a purchaser of certain commodities such as steel, natural gas and electricity.Market risk (Item 7A)
Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more
Electronic components
depends onnamed as a riskAdditionally, certain electronic components are sourced from a finite set of suppliers.Risk factors (Item 1A)
Also named by GGG, HUBB, JOUT, LECO, MSA, NVT, ROK, SYK and 4 more
Specialized steel alloys
depends onnamed as a riskTo meet Snap-on’s high quality standards, a portion of our steel needs include specialized alloys, which are available only from a limited group of approved suppliers.Risk factors (Item 1A)
Petroleum and energy
exposed to its pricenamed as a riskEnergy price increases raise both our operating costs and the costs of our materials, and we may not be able to increase our prices enough to offset these costs.Risk factors (Item 1A)
Laws and programs
U.S. tariffs (2025)
subject tonamed as a riskStarting in the first quarter of 2025, the United States government announced additional tariffs on goods imported into the U.S. from numerous countries and multiple nations countered with reciprocal tariffs and other actions in response.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more
OECD Pillar Two global minimum tax
subject tonamed as a riskNew tax laws, within the U.S. and the other jurisdictions in which we operate, such as Pillar Two of the Global Anti-Base Erosion Rules released by the Organisation for Economic Cooperation and Development (OECD), which, once adopted in various jurisdictions, will require a global minimum tax for multinational countries, could impact our operations.Risk factors (Item 1A)
Also named by ABNB, ACN, ADI, ADM, ADSK, AKAM, ALB, AMAT and 70 more
U.S. Foreign Corrupt Practices Act
subject tonamed as a riskThese also include changes in government policies and regulations, including those intended to address climate change and other sustainability-related factors, imposition of, or increases in withholding and other taxes on remittances and other payments by international subsidiaries, increases in trade sanctions, tariffs and other related measures, as well as exposure to liabilities under anti-bribery and anti-corruption laws in various countries, such as the U.S. Foreign Corrupt Practices Act.Risk factors (Item 1A)
Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more
Corporate Sustainability Reporting Directive (CSRD)
subject tonamed as a riskRegulations, such as the Corporate Sustainability Reporting Directive (CSRD) in the European Union, as well as various industry and third-party requirements or standards have been developed that are intended to address environmental or sustainability risks.Risk factors (Item 1A)
Employee Retirement Income Security Act (ERISA)
subject tonamed as a riskRequired funding for the company’s domestic defined benefit pension plans is determined in accordance with guidelines set forth in the federal Employee Retirement Income Security Act (“ERISA”); foreign defined benefit pension plans are funded in accordance with local statutes or practice.Risk factors (Item 1A)
U.S. government contracting regulations
subject tonamed as a riskAdditionally, as a government contractor, purchasing regulations contain many operational requirements and a failure to comply with such requirements could result in civil and criminal penalties or other actions that could have a material adverse effect on the company’s reputation, business, financial condition and results of operations.Risk factors (Item 1A)