A handheld punch tool includes a housing, a die holder coupled to the housing, a die supported by the die holder, the die and the die holder defining a feed slot therebetween for receiving a workpiece to be cut, and a punch configured to reciprocate within the die holder, with a main body defining a first longitudinal axis extending centrally through the main body and a punch element extending from the main body along a second longitudinal axis parallel to the first longitudinal axis. The punch element is configured to cut a first distance into the workpiece per stroke of the punch when the feed slot faces a first side of the punch and to cut a second distance into the workpiece per stroke when the feed slot faces a second side of the punch opposite the first side. The first distance is greater than the second distance.