I have always looked at them (analyzed them for myself) and was always bothered by the fact that they have more intangible assets than equity. That's always a warning sign for me, since intangible assets (I like to call them "air") always have a potential depreciation risk.

For pure digital companies where the source code can be really valuable (Alphabet, Microsoft, ...) this can be okay, but even for these digital companies intangible assets only represent 10%-30% of equity and not 116% like Stanley Black & Decker. And SBD does make "real things", then they should have "real assets" on the balance sheet and not just air.

And otherwise the P/E ratios were just too high for me, especially compared to other tool manufacturers, so I never bought SBD. But from the rest of the fundamentals, SBD basically looks good and if the P/E ratios now get into affordable options, you can take another look at the stock (if you want to accept risk of intangible air).