Stanley Black & Decker (SWK) is down about two-thirds since its 2021 peak, mainly due to a debt-heavy acquisition spree. They've been working on a turnaround by selling non-core assets to cut debt. Their debt ratio is projected to drop from 5.1x in 2023 to 2.5x by the end of 2026. Gross margins have also improved from 22.1% in late 2022 to 32.5%. The dividend seems safe now. It yields 4.4% with a cash payout ratio around 70%. Management's 2026 earnings guidance of $4.15 to $5.35 per share covers the $3.32 annual dividend. The market is still a bit skeptical because of new headwinds like tariffs, inflation, and a potential recession. But the bulk of their restructuring work is largely done.