Sportsman's Warehouse Holdings, Inc. (SPWH) 10-Year Financial Performance & Capital Metrics

SPWH • • Industrial / General

Consumer CyclicalSpecialty RetailSporting Goods & Outdoor RecreationSporting Goods Chains

AboutSportsman's Warehouse Holdings, Inc., together with its subsidiaries, operates as an outdoor sporting goods retailer in the United States. It offers camping products, such as backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents, and tools; and apparel products, including camouflage, jackets, hats, outerwear, sportswear, technical gear, and work wear. The company also provides fishing products comprising bait, electronics, fishing rods, flotation items, fly fishing products, lines, lures, reels, tackles, and small boats; and foot wear products consisting of hiking and work boots, socks, sport sandals, technical footwear, trial and casual shoes, and waders. In addition, it offers hunting and shooting products, such as ammunition, archery items, ATV accessories, blinds and tree stands, decoys, firearms, firearms safety and storage products, reloading equipment, and shooting gear products; and optics, electronics, and accessories, including gift items, GPS devices, knives, lighting, optics, and two-way radios. Further, the company's stores provide archery technician services, fishing-reel line winding, bore sighting and scope mounting, and cleaning services, as well as issues hunting and fishing licenses. Additionally, it offers various private label and special make-up offerings under the Rustic Ridge, Killik, Vital Impact, Yukon Gold, Lost Creek, and Sportsman's Warehouse brands. As of May 26, 2022, the company operated through 126 stores. Sportsman's Warehouse Holdings, Inc. was founded in 1986 and is headquartered in West Jordan, Utah.Show more

Revenue $1.2B -7.0%
EBITDA $22M +62.8%
Net Income -$33M -14.0%
EPS (Diluted) -0.87 -13.0%
Gross Margin 30.93% +3.9%
EBITDA Margin 1.86% +75.1%
Operating Margin -1.52% +22.6%
Net Margin -2.76% -22.6%
ROE -13.22% -27.1%
ROIC -1.91% +28.2%
Debt/Equity 1.93 +6.1%
Interest Coverage -1.49 +24.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.2x book value
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗Weak momentum: RS Rating 7 (bottom 7%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y6.14%

5Y6.2%

3Y-7.35%

TTM-2.92%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-9.93%

EPS CAGR

10Y-

5Y-

3Y-

TTM-8.22%

ROCE

10Y Avg18.02%

5Y Avg10.46%

3Y Avg0.9%

Latest-3.2%

Peer Comparison

Sporting Goods Chains

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DKSDICK'S Sporting Goods, Inc.	14.13B	212.88	15.15	3.53%	6.86%	18.49%	3.6%	1.40
ASOAcademy Sports and Outdoors, Inc.	3.88B	58.13	10.14	-3.67%	6.27%	17.55%	8.47%	0.89
SBDSSolo Brands, Inc.	11.29M	6.85	-0.09	-8.13%	-21.22%	-58.04%		0.95
FTELFitell Corporation	3.95M	3.27	-0.44	-6.93%	-141.4%	-169.29%		0.06
SPWHSportsman's Warehouse Holdings, Inc.	55.41M	1.44	-1.66	-7.02%	-3.1%	-17.92%	35.36%	1.93
HZOMarineMax, Inc.	632.69M	28.93	-20.23	-5.01%	-1.15%	-2.82%	1.89%	1.31

Profit & Loss

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Sales/Revenue+	729.91M	779.96M	809.67M	849.13M	886.4M	1.45B	1.51B	1.4B	1.29B	1.2B
Revenue Growth %	0.11%	0.07%	0.04%	0.05%	0.04%	0.64%	0.04%	-0.07%	-0.08%	-0.07%
Cost of Goods Sold+	491.38M	516.73M	535.81M	564.2M	589.77M	975.31M	1.02B	939.27M	904.57M	827.17M
COGS % of Revenue	0.67%	0.66%	0.66%	0.66%	0.67%	0.67%	0.67%	0.67%	0.7%	0.69%
Gross Profit+	238.53M	263.23M	273.86M	284.93M	296.63M	476.45M	490.3M	460.24M	383.41M	370.47M
Gross Margin %	0.33%	0.34%	0.34%	0.34%	0.33%	0.33%	0.33%	0.33%	0.3%	0.31%
Gross Profit Growth %	0.11%	0.1%	0.04%	0.04%	0.04%	0.61%	0.03%	-0.06%	-0.17%	-0.03%
Operating Expenses+	179.22M	202.54M	227.29M	240.91M	263.17M	353.71M	399.68M	402.18M	408.75M	388.7M
OpEx % of Revenue	0.25%	0.26%	0.28%	0.28%	0.3%	0.24%	0.27%	0.29%	0.32%	0.32%
Selling, General & Admin	183.34M	202.75M	224.13M	238.26M	263.17M	353.71M	399.68M	402.18M	402.08M	384.96M
SG&A % of Revenue	0.25%	0.26%	0.28%	0.28%	0.3%	0.24%	0.27%	0.29%	0.31%	0.32%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	3.74M
Operating Income+	59.31M	60.69M	46.57M	44.02M	33.46M	122.75M	90.62M	58.06M	-25.34M	-18.24M
Operating Margin %	0.08%	0.08%	0.06%	0.05%	0.04%	0.08%	0.06%	0.04%	-0.02%	-0.02%
Operating Income Growth %	0.32%	0.02%	-0.23%	-0.05%	-0.24%	2.67%	-0.26%	-0.36%	-1.44%	0.28%
EBITDA+	70.88M	74.66M	64.27M	62.27M	79.79M	169.88M	148.38M	118.42M	13.67M	22.26M
EBITDA Margin %	0.1%	0.1%	0.08%	0.07%	0.09%	0.12%	0.1%	0.08%	0.01%	0.02%
EBITDA Growth %	0.31%	0.05%	-0.14%	-0.03%	0.28%	1.13%	-0.13%	-0.2%	-0.88%	0.63%
D&A (Non-Cash Add-back)	11.57M	13.97M	17.71M	18.25M	46.33M	47.14M	57.76M	60.36M	39.01M	40.5M
EBIT	59.31M	60.69M	46.57M	44.02M	33.46M	124.97M	145.62M	58.06M	-25.34M	-18.85M
Net Interest Income+	-14.16M	-13.4M	-13.74M	-13.21M	-8M	-3.51M	-1.38M	-4.2M	-12.87M	-12.28M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	14.16M	13.4M	13.74M	13.21M	8M	3.51M	1.38M	4.2M	12.87M	12.28M
Other Income/Expense	-14.16M	-13.4M	-13.74M	-13.21M	-8M	-1.29M	53.62M	-4.2M	-12.87M	-12.89M
Pretax Income+	45.16M	47.28M	32.83M	30.81M	25.47M	121.46M	144.24M	53.87M	-38.21M	-31.13M
Pretax Margin %	0.06%	0.06%	0.04%	0.04%	0.03%	0.08%	0.1%	0.04%	-0.03%	-0.03%
Income Tax+	17.39M	17.62M	15.09M	7.06M	5.25M	30.08M	35.77M	13.35M	-9.21M	1.93M
Effective Tax Rate %	0.62%	0.63%	0.54%	0.77%	0.79%	0.75%	0.75%	0.75%	0.76%	1.06%
Net Income+	27.77M	29.67M	17.74M	23.75M	20.21M	91.38M	108.47M	40.52M	-29M	-33.06M
Net Margin %	0.04%	0.04%	0.02%	0.03%	0.02%	0.06%	0.07%	0.03%	-0.02%	-0.03%
Net Income Growth %	1.01%	0.07%	-0.4%	0.34%	-0.15%	3.52%	0.19%	-0.63%	-1.72%	-0.14%
Net Income (Continuing)	27.77M	29.67M	17.74M	23.75M	20.21M	91.38M	108.47M	40.52M	-29M	-33.06M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.66	0.70	0.42	0.55	0.46	2.06	2.44	1.00	-0.77	-0.87
EPS Growth %	0.94%	0.06%	-0.4%	0.31%	-0.16%	3.48%	0.18%	-0.59%	-1.77%	-0.13%
EPS (Basic)	0.66	0.70	0.42	0.55	0.47	2.10	2.48	1.00	-0.77	-0.87
Diluted Shares Outstanding	42.33M	42.48M	42.52M	42.98M	43.59M	44.43M	44.54M	40.72M	37.49M	37.81M
Basic Shares Outstanding	41.97M	42.19M	42.5M	42.88M	43.17M	43.52M	43.83M	40.49M	37.49M	37.81M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Total Current Assets+	233.06M	255.92M	280.75M	293.57M	291.64M	324.65M	467.47M	425.9M	380.05M	366M
Cash & Short-Term Investments	2.11M	1.91M	1.77M	1.55M	1.69M	65.53M	57.02M	2.39M	3.14M	2.83M
Cash Only	2.11M	1.91M	1.77M	1.55M	1.69M	65.53M	57.02M	2.39M	3.14M	2.83M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	469K	411K	319K	249K	1.72M	581K	1.94M	2.05M	2.12M	2.41M
Days Sales Outstanding	0.23	0.19	0.14	0.11	0.71	0.15	0.47	0.54	0.6	0.73
Inventory	217.79M	246.29M	270.59M	276.6M	275.5M	243.43M	386.56M	399.13M	354.71M	341.96M
Days Inventory Outstanding	161.78	173.97	184.33	178.94	170.51	91.1	138.9	155.1	143.13	150.89
Other Current Assets	3M	0	0	0	0	0	0	22.33M	20.08M	18.8M
Total Non-Current Assets+	68.62M	90.32M	98.91M	95.33M	325M	336.17M	373.11M	433.06M	506.16M	486.1M
Property, Plant & Equipment	62.43M	83.11M	94.03M	92.08M	323.29M	334.38M	371.35M	431.18M	503.83M	484.34M
Fixed Asset Turnover	11.69x	9.38x	8.61x	9.22x	2.74x	4.34x	4.06x	3.25x	2.56x	2.47x
Goodwill	0	0	0	0	1.5M	1.5M	1.5M	1.5M	1.5M	1.5M
Intangible Assets	3.92M	2.12M	276K	246K	220K	289K	264K	389K	327K	267K
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0	0	0	0	0	0
Total Assets+	301.33M	346.25M	379.66M	388.9M	616.64M	660.82M	840.58M	858.96M	886.21M	852.1M
Asset Turnover	2.42x	2.25x	2.13x	2.18x	1.44x	2.20x	1.79x	1.63x	1.45x	1.41x
Asset Growth %	0.11%	0.15%	0.1%	0.02%	0.59%	0.07%	0.27%	0.02%	0.03%	-0.04%
Total Current Liabilities+	127.92M	147.22M	155.55M	240.67M	264.78M	227.43M	284.41M	295.82M	314.65M	283.96M
Accounts Payable	46.7M	31.55M	36.79M	24.95M	38.16M	77.44M	58.92M	61.95M	56.12M	64.04M
Days Payables Outstanding	34.69	22.29	25.06	16.14	23.61	28.98	21.17	24.07	22.65	28.26
Short-Term Debt	33.95M	61.95M	60.98M	152.22M	122.01M	13.45M	66.05M	87.5M	126.04M	74.65M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	3.02M	3.15M	4.59M	12.92M	0	-13.45M	0	0	0	0
Current Ratio	1.82x	1.74x	1.80x	1.22x	1.10x	1.43x	1.64x	1.44x	1.21x	1.29x
Quick Ratio	0.12x	0.07x	0.07x	0.07x	0.06x	0.36x	0.28x	0.09x	0.08x	0.08x
Cash Conversion Cycle	127.33	151.88	159.41	162.91	147.6	62.27	118.2	131.56	121.08	123.37
Total Non-Current Liabilities+	175.47M	169.03M	174.31M	69.57M	241.6M	228.73M	242.01M	270.02M	307M	332.44M
Long-Term Debt	146.33M	133.72M	132.35M	27.72M	23.78M	0	0	0	0	24.07M
Capital Lease Obligations	0	0	0	0	217.25M	228.3M	236.23M	260.48M	307M	307.42M
Deferred Tax Liabilities	0	0	0	0	562K	434K	5.78M	9.54M	0	946K
Other Non-Current Liabilities	29.13M	35.31M	41.96M	41.85M	0	0	0	0	0	0
Total Liabilities	303.39M	316.25M	329.86M	310.24M	506.37M	456.16M	526.41M	565.85M	621.65M	616.4M
Total Debt+	180.28M	195.68M	193.33M	179.94M	397.54M	277.75M	343.2M	393.45M	481.74M	455.27M
Net Debt	178.17M	193.76M	191.56M	178.39M	395.85M	212.23M	286.19M	391.06M	478.6M	452.44M
Debt / Equity	-	6.52x	3.88x	2.29x	3.61x	1.36x	1.09x	1.34x	1.82x	1.93x
Debt / EBITDA	2.54x	2.62x	3.01x	2.89x	4.98x	1.63x	2.31x	3.32x	35.24x	20.45x
Net Debt / EBITDA	2.51x	2.60x	2.98x	2.86x	4.96x	1.25x	1.93x	3.30x	35.01x	20.33x
Interest Coverage	4.19x	4.53x	3.39x	3.33x	4.19x	35.01x	65.67x	13.84x	-1.97x	-1.49x
Total Equity+	-2.06M	30M	49.8M	78.66M	110.27M	204.66M	314.17M	293.11M	264.56M	235.7M
Equity Growth %	0.93%	15.57%	0.66%	0.58%	0.4%	0.86%	0.54%	-0.07%	-0.1%	-0.11%
Book Value per Share	-0.05	0.71	1.17	1.83	2.53	4.61	7.05	7.20	7.06	6.23
Total Shareholders' Equity	-2.06M	30M	49.8M	78.66M	110.27M	204.66M	314.17M	293.11M	264.56M	235.7M
Common Stock	420K	422K	426K	430K	433K	436K	439K	375K	375K	380K
Retained Earnings	-80.24M	-50.57M	-32.83M	-6.44M	23.03M	114.41M	222.88M	213M	182.38M	149.32M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Cash from Operations+	35.66M	15.48M	30.77M	32.17M	77.87M	238.82M	-21.63M	46.79M	52.27M	34.15M
Operating CF Margin %	0.05%	0.02%	0.04%	0.04%	0.09%	0.16%	-0.01%	0.03%	0.04%	0.03%
Operating CF Growth %	0.74%	-0.57%	0.99%	0.05%	1.42%	2.07%	-1.09%	3.16%	0.12%	-0.35%
Net Income	27.77M	29.67M	17.74M	23.75M	20.21M	91.38M	108.47M	40.52M	-29M	-33.06M
Depreciation & Amortization	11.57M	13.97M	17.71M	18.25M	19.32M	21.83M	26.23M	31.78M	56.11M	40.5M
Stock-Based Compensation	2.26M	3.19M	2.29M	2.83M	2.1M	3.3M	3.33M	4.67M	4.45M	4.23M
Deferred Taxes	3.06M	167K	502K	714K	710K	-919K	5.34M	3.77M	-10.05M	1.45M
Other Non-Cash Items	1.69M	6.98M	9.32M	2.64M	27.04M	24.43M	31.79M	28.77M	-60K	9.29M
Working Capital Changes	-10.69M	-38.49M	-16.79M	-16.01M	8.48M	98.8M	-196.78M	-62.7M	30.81M	11.74M
Change in Receivables	-44K	58K	92K	70K	-655K	323K	-1.36M	-116K	-67K	-290K
Change in Inventory	-31.89M	-28.5M	-24.3M	-6.01M	20.25M	39.94M	-143.13M	-12.57M	44.42M	12.75M
Change in Payables	18.2M	-15.53M	7.54M	-11.73M	12.71M	37.81M	-20.38M	-1.51M	1.79M	8M
Cash from Investing+	-14.95M	-27.49M	-32.14M	-16.25M	-49.06M	-26.23M	-53.45M	-60.59M	-79.89M	-14.48M
Capital Expenditures	-33.96M	-39.42M	-41.17M	-18.2M	-30.37M	-19.75M	-53.45M	-63.51M	-79.89M	-14.56M
CapEx % of Revenue	0.05%	0.05%	0.05%	0.02%	0.03%	0.01%	0.04%	0.05%	0.06%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	19.01M	11.92M	9.04M	1.94M	9.84M	0	0	2.92M	0	76K
Cash from Financing+	-20.35M	11.81M	1.22M	-16.14M	-28.66M	-148.75M	66.57M	-40.84M	28.38M	-19.98M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-837K	433K	4.43M	-980K	403K	-3.25M	2.81M	2.46M	-7.41M	6.11M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.71M	-23.93M	-10.4M	13.98M	47.49M	219.06M	-75.08M	-16.72M	-27.63M	19.59M
FCF Margin %	0%	-0.03%	-0.01%	0.02%	0.05%	0.15%	-0.05%	-0.01%	-0.02%	0.02%
FCF Growth %	1.18%	-15.04%	0.57%	2.34%	2.4%	3.61%	-1.34%	0.78%	-0.65%	1.71%
FCF per Share	0.04	-0.56	-0.24	0.33	1.09	4.93	-1.69	-0.41	-0.74	0.52
FCF Conversion (FCF/Net Income)	1.28x	0.52x	1.73x	1.35x	3.85x	2.61x	-0.20x	1.15x	-1.80x	-1.03x
Interest Paid	16.41M	11.96M	13.53M	13.24M	7.95M	3.51M	1.38M	3.4M	12.09M	11.46M
Taxes Paid	10.33M	18.44M	12.84M	7.09M	7.29M	25.3M	25.84M	18.15M	1.65M	411K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	212.36%	44.47%	36.98%	21.4%	58.03%	41.81%	13.34%	-10.4%	-13.22%
Return on Invested Capital (ROIC)	25.94%	22.76%	15.02%	13.25%	6.58%	19.95%	13.36%	6.78%	-2.66%	-1.91%
Gross Margin	32.68%	33.75%	33.82%	33.56%	33.46%	32.82%	32.55%	32.89%	29.77%	30.93%
Net Margin	3.8%	3.8%	2.19%	2.8%	2.28%	6.29%	7.2%	2.9%	-2.25%	-2.76%
Debt / Equity	-	6.52x	3.88x	2.29x	3.61x	1.36x	1.09x	1.34x	1.82x	1.93x
Interest Coverage	4.19x	4.53x	3.39x	3.33x	4.19x	35.01x	65.67x	13.84x	-1.97x	-1.49x
FCF Conversion	1.28x	0.52x	1.73x	1.35x	3.85x	2.61x	-0.20x	1.15x	-1.80x	-1.03x
Revenue Growth	10.59%	6.86%	3.81%	4.87%	4.39%	63.78%	3.74%	-7.08%	-7.97%	-7.02%

Frequently Asked Questions

Growth & Financials

Sportsman's Warehouse Holdings, Inc. (SPWH) reported $1.21B in revenue for fiscal year 2024. This represents a 221% increase from $376.6M in 2011.

Sportsman's Warehouse Holdings, Inc. (SPWH) saw revenue decline by 7.0% over the past year.

Sportsman's Warehouse Holdings, Inc. (SPWH) reported a net loss of $37.4M for fiscal year 2024.

Dividend & Returns

Sportsman's Warehouse Holdings, Inc. (SPWH) has a return on equity (ROE) of -13.2%. Negative ROE indicates the company is unprofitable.

Sportsman's Warehouse Holdings, Inc. (SPWH) had negative free cash flow of $54.6M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

...

Sportsman's Warehouse Holdings, Inc. (SPWH) 10-Year Financial Performance & Capital Metrics

SPWH • • Industrial / General

Consumer CyclicalSpecialty RetailSporting Goods & Outdoor RecreationSporting Goods Chains

Revenue $1.2B -7.0%
EBITDA $22M +62.8%
Net Income -$33M -14.0%
EPS (Diluted) -0.87 -13.0%
Gross Margin 30.93% +3.9%
EBITDA Margin 1.86% +75.1%
Operating Margin -1.52% +22.6%
Net Margin -2.76% -22.6%
ROE -13.22% -27.1%
ROIC -1.91% +28.2%
Debt/Equity 1.93 +6.1%
Interest Coverage -1.49 +24.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.2x book value
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗Weak momentum: RS Rating 7 (bottom 7%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y6.14%

5Y6.2%

3Y-7.35%

TTM-2.92%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-9.93%

EPS CAGR

10Y-

5Y-

3Y-

TTM-8.22%

ROCE

10Y Avg18.02%

5Y Avg10.46%

3Y Avg0.9%

Latest-3.2%

Peer Comparison

Sporting Goods Chains

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DKSDICK'S Sporting Goods, Inc.	14.13B	212.88	15.15	3.53%	6.86%	18.49%	3.6%	1.40
ASOAcademy Sports and Outdoors, Inc.	3.88B	58.13	10.14	-3.67%	6.27%	17.55%	8.47%	0.89
SBDSSolo Brands, Inc.	11.29M	6.85	-0.09	-8.13%	-21.22%	-58.04%		0.95
FTELFitell Corporation	3.95M	3.27	-0.44	-6.93%	-141.4%	-169.29%		0.06
SPWHSportsman's Warehouse Holdings, Inc.	55.41M	1.44	-1.66	-7.02%	-3.1%	-17.92%	35.36%	1.93
HZOMarineMax, Inc.	632.69M	28.93	-20.23	-5.01%	-1.15%	-2.82%	1.89%	1.31

Profit & Loss

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Sales/Revenue+	729.91M	779.96M	809.67M	849.13M	886.4M	1.45B	1.51B	1.4B	1.29B	1.2B
Revenue Growth %	0.11%	0.07%	0.04%	0.05%	0.04%	0.64%	0.04%	-0.07%	-0.08%	-0.07%
Cost of Goods Sold+	491.38M	516.73M	535.81M	564.2M	589.77M	975.31M	1.02B	939.27M	904.57M	827.17M
COGS % of Revenue	0.67%	0.66%	0.66%	0.66%	0.67%	0.67%	0.67%	0.67%	0.7%	0.69%
Gross Profit+	238.53M	263.23M	273.86M	284.93M	296.63M	476.45M	490.3M	460.24M	383.41M	370.47M
Gross Margin %	0.33%	0.34%	0.34%	0.34%	0.33%	0.33%	0.33%	0.33%	0.3%	0.31%
Gross Profit Growth %	0.11%	0.1%	0.04%	0.04%	0.04%	0.61%	0.03%	-0.06%	-0.17%	-0.03%
Operating Expenses+	179.22M	202.54M	227.29M	240.91M	263.17M	353.71M	399.68M	402.18M	408.75M	388.7M
OpEx % of Revenue	0.25%	0.26%	0.28%	0.28%	0.3%	0.24%	0.27%	0.29%	0.32%	0.32%
Selling, General & Admin	183.34M	202.75M	224.13M	238.26M	263.17M	353.71M	399.68M	402.18M	402.08M	384.96M
SG&A % of Revenue	0.25%	0.26%	0.28%	0.28%	0.3%	0.24%	0.27%	0.29%	0.31%	0.32%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	3.74M
Operating Income+	59.31M	60.69M	46.57M	44.02M	33.46M	122.75M	90.62M	58.06M	-25.34M	-18.24M
Operating Margin %	0.08%	0.08%	0.06%	0.05%	0.04%	0.08%	0.06%	0.04%	-0.02%	-0.02%
Operating Income Growth %	0.32%	0.02%	-0.23%	-0.05%	-0.24%	2.67%	-0.26%	-0.36%	-1.44%	0.28%
EBITDA+	70.88M	74.66M	64.27M	62.27M	79.79M	169.88M	148.38M	118.42M	13.67M	22.26M
EBITDA Margin %	0.1%	0.1%	0.08%	0.07%	0.09%	0.12%	0.1%	0.08%	0.01%	0.02%
EBITDA Growth %	0.31%	0.05%	-0.14%	-0.03%	0.28%	1.13%	-0.13%	-0.2%	-0.88%	0.63%
D&A (Non-Cash Add-back)	11.57M	13.97M	17.71M	18.25M	46.33M	47.14M	57.76M	60.36M	39.01M	40.5M
EBIT	59.31M	60.69M	46.57M	44.02M	33.46M	124.97M	145.62M	58.06M	-25.34M	-18.85M
Net Interest Income+	-14.16M	-13.4M	-13.74M	-13.21M	-8M	-3.51M	-1.38M	-4.2M	-12.87M	-12.28M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	14.16M	13.4M	13.74M	13.21M	8M	3.51M	1.38M	4.2M	12.87M	12.28M
Other Income/Expense	-14.16M	-13.4M	-13.74M	-13.21M	-8M	-1.29M	53.62M	-4.2M	-12.87M	-12.89M
Pretax Income+	45.16M	47.28M	32.83M	30.81M	25.47M	121.46M	144.24M	53.87M	-38.21M	-31.13M
Pretax Margin %	0.06%	0.06%	0.04%	0.04%	0.03%	0.08%	0.1%	0.04%	-0.03%	-0.03%
Income Tax+	17.39M	17.62M	15.09M	7.06M	5.25M	30.08M	35.77M	13.35M	-9.21M	1.93M
Effective Tax Rate %	0.62%	0.63%	0.54%	0.77%	0.79%	0.75%	0.75%	0.75%	0.76%	1.06%
Net Income+	27.77M	29.67M	17.74M	23.75M	20.21M	91.38M	108.47M	40.52M	-29M	-33.06M
Net Margin %	0.04%	0.04%	0.02%	0.03%	0.02%	0.06%	0.07%	0.03%	-0.02%	-0.03%
Net Income Growth %	1.01%	0.07%	-0.4%	0.34%	-0.15%	3.52%	0.19%	-0.63%	-1.72%	-0.14%
Net Income (Continuing)	27.77M	29.67M	17.74M	23.75M	20.21M	91.38M	108.47M	40.52M	-29M	-33.06M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.66	0.70	0.42	0.55	0.46	2.06	2.44	1.00	-0.77	-0.87
EPS Growth %	0.94%	0.06%	-0.4%	0.31%	-0.16%	3.48%	0.18%	-0.59%	-1.77%	-0.13%
EPS (Basic)	0.66	0.70	0.42	0.55	0.47	2.10	2.48	1.00	-0.77	-0.87
Diluted Shares Outstanding	42.33M	42.48M	42.52M	42.98M	43.59M	44.43M	44.54M	40.72M	37.49M	37.81M
Basic Shares Outstanding	41.97M	42.19M	42.5M	42.88M	43.17M	43.52M	43.83M	40.49M	37.49M	37.81M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Total Current Assets+	233.06M	255.92M	280.75M	293.57M	291.64M	324.65M	467.47M	425.9M	380.05M	366M
Cash & Short-Term Investments	2.11M	1.91M	1.77M	1.55M	1.69M	65.53M	57.02M	2.39M	3.14M	2.83M
Cash Only	2.11M	1.91M	1.77M	1.55M	1.69M	65.53M	57.02M	2.39M	3.14M	2.83M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	469K	411K	319K	249K	1.72M	581K	1.94M	2.05M	2.12M	2.41M
Days Sales Outstanding	0.23	0.19	0.14	0.11	0.71	0.15	0.47	0.54	0.6	0.73
Inventory	217.79M	246.29M	270.59M	276.6M	275.5M	243.43M	386.56M	399.13M	354.71M	341.96M
Days Inventory Outstanding	161.78	173.97	184.33	178.94	170.51	91.1	138.9	155.1	143.13	150.89
Other Current Assets	3M	0	0	0	0	0	0	22.33M	20.08M	18.8M
Total Non-Current Assets+	68.62M	90.32M	98.91M	95.33M	325M	336.17M	373.11M	433.06M	506.16M	486.1M
Property, Plant & Equipment	62.43M	83.11M	94.03M	92.08M	323.29M	334.38M	371.35M	431.18M	503.83M	484.34M
Fixed Asset Turnover	11.69x	9.38x	8.61x	9.22x	2.74x	4.34x	4.06x	3.25x	2.56x	2.47x
Goodwill	0	0	0	0	1.5M	1.5M	1.5M	1.5M	1.5M	1.5M
Intangible Assets	3.92M	2.12M	276K	246K	220K	289K	264K	389K	327K	267K
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0	0	0	0	0	0
Total Assets+	301.33M	346.25M	379.66M	388.9M	616.64M	660.82M	840.58M	858.96M	886.21M	852.1M
Asset Turnover	2.42x	2.25x	2.13x	2.18x	1.44x	2.20x	1.79x	1.63x	1.45x	1.41x
Asset Growth %	0.11%	0.15%	0.1%	0.02%	0.59%	0.07%	0.27%	0.02%	0.03%	-0.04%
Total Current Liabilities+	127.92M	147.22M	155.55M	240.67M	264.78M	227.43M	284.41M	295.82M	314.65M	283.96M
Accounts Payable	46.7M	31.55M	36.79M	24.95M	38.16M	77.44M	58.92M	61.95M	56.12M	64.04M
Days Payables Outstanding	34.69	22.29	25.06	16.14	23.61	28.98	21.17	24.07	22.65	28.26
Short-Term Debt	33.95M	61.95M	60.98M	152.22M	122.01M	13.45M	66.05M	87.5M	126.04M	74.65M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	3.02M	3.15M	4.59M	12.92M	0	-13.45M	0	0	0	0
Current Ratio	1.82x	1.74x	1.80x	1.22x	1.10x	1.43x	1.64x	1.44x	1.21x	1.29x
Quick Ratio	0.12x	0.07x	0.07x	0.07x	0.06x	0.36x	0.28x	0.09x	0.08x	0.08x
Cash Conversion Cycle	127.33	151.88	159.41	162.91	147.6	62.27	118.2	131.56	121.08	123.37
Total Non-Current Liabilities+	175.47M	169.03M	174.31M	69.57M	241.6M	228.73M	242.01M	270.02M	307M	332.44M
Long-Term Debt	146.33M	133.72M	132.35M	27.72M	23.78M	0	0	0	0	24.07M
Capital Lease Obligations	0	0	0	0	217.25M	228.3M	236.23M	260.48M	307M	307.42M
Deferred Tax Liabilities	0	0	0	0	562K	434K	5.78M	9.54M	0	946K
Other Non-Current Liabilities	29.13M	35.31M	41.96M	41.85M	0	0	0	0	0	0
Total Liabilities	303.39M	316.25M	329.86M	310.24M	506.37M	456.16M	526.41M	565.85M	621.65M	616.4M
Total Debt+	180.28M	195.68M	193.33M	179.94M	397.54M	277.75M	343.2M	393.45M	481.74M	455.27M
Net Debt	178.17M	193.76M	191.56M	178.39M	395.85M	212.23M	286.19M	391.06M	478.6M	452.44M
Debt / Equity	-	6.52x	3.88x	2.29x	3.61x	1.36x	1.09x	1.34x	1.82x	1.93x
Debt / EBITDA	2.54x	2.62x	3.01x	2.89x	4.98x	1.63x	2.31x	3.32x	35.24x	20.45x
Net Debt / EBITDA	2.51x	2.60x	2.98x	2.86x	4.96x	1.25x	1.93x	3.30x	35.01x	20.33x
Interest Coverage	4.19x	4.53x	3.39x	3.33x	4.19x	35.01x	65.67x	13.84x	-1.97x	-1.49x
Total Equity+	-2.06M	30M	49.8M	78.66M	110.27M	204.66M	314.17M	293.11M	264.56M	235.7M
Equity Growth %	0.93%	15.57%	0.66%	0.58%	0.4%	0.86%	0.54%	-0.07%	-0.1%	-0.11%
Book Value per Share	-0.05	0.71	1.17	1.83	2.53	4.61	7.05	7.20	7.06	6.23
Total Shareholders' Equity	-2.06M	30M	49.8M	78.66M	110.27M	204.66M	314.17M	293.11M	264.56M	235.7M
Common Stock	420K	422K	426K	430K	433K	436K	439K	375K	375K	380K
Retained Earnings	-80.24M	-50.57M	-32.83M	-6.44M	23.03M	114.41M	222.88M	213M	182.38M	149.32M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jan 2016	Jan 2017	Jan 2018	Jan 2019	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Cash from Operations+	35.66M	15.48M	30.77M	32.17M	77.87M	238.82M	-21.63M	46.79M	52.27M	34.15M
Operating CF Margin %	0.05%	0.02%	0.04%	0.04%	0.09%	0.16%	-0.01%	0.03%	0.04%	0.03%
Operating CF Growth %	0.74%	-0.57%	0.99%	0.05%	1.42%	2.07%	-1.09%	3.16%	0.12%	-0.35%
Net Income	27.77M	29.67M	17.74M	23.75M	20.21M	91.38M	108.47M	40.52M	-29M	-33.06M
Depreciation & Amortization	11.57M	13.97M	17.71M	18.25M	19.32M	21.83M	26.23M	31.78M	56.11M	40.5M
Stock-Based Compensation	2.26M	3.19M	2.29M	2.83M	2.1M	3.3M	3.33M	4.67M	4.45M	4.23M
Deferred Taxes	3.06M	167K	502K	714K	710K	-919K	5.34M	3.77M	-10.05M	1.45M
Other Non-Cash Items	1.69M	6.98M	9.32M	2.64M	27.04M	24.43M	31.79M	28.77M	-60K	9.29M
Working Capital Changes	-10.69M	-38.49M	-16.79M	-16.01M	8.48M	98.8M	-196.78M	-62.7M	30.81M	11.74M
Change in Receivables	-44K	58K	92K	70K	-655K	323K	-1.36M	-116K	-67K	-290K
Change in Inventory	-31.89M	-28.5M	-24.3M	-6.01M	20.25M	39.94M	-143.13M	-12.57M	44.42M	12.75M
Change in Payables	18.2M	-15.53M	7.54M	-11.73M	12.71M	37.81M	-20.38M	-1.51M	1.79M	8M
Cash from Investing+	-14.95M	-27.49M	-32.14M	-16.25M	-49.06M	-26.23M	-53.45M	-60.59M	-79.89M	-14.48M
Capital Expenditures	-33.96M	-39.42M	-41.17M	-18.2M	-30.37M	-19.75M	-53.45M	-63.51M	-79.89M	-14.56M
CapEx % of Revenue	0.05%	0.05%	0.05%	0.02%	0.03%	0.01%	0.04%	0.05%	0.06%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	19.01M	11.92M	9.04M	1.94M	9.84M	0	0	2.92M	0	76K
Cash from Financing+	-20.35M	11.81M	1.22M	-16.14M	-28.66M	-148.75M	66.57M	-40.84M	28.38M	-19.98M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-837K	433K	4.43M	-980K	403K	-3.25M	2.81M	2.46M	-7.41M	6.11M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.71M	-23.93M	-10.4M	13.98M	47.49M	219.06M	-75.08M	-16.72M	-27.63M	19.59M
FCF Margin %	0%	-0.03%	-0.01%	0.02%	0.05%	0.15%	-0.05%	-0.01%	-0.02%	0.02%
FCF Growth %	1.18%	-15.04%	0.57%	2.34%	2.4%	3.61%	-1.34%	0.78%	-0.65%	1.71%
FCF per Share	0.04	-0.56	-0.24	0.33	1.09	4.93	-1.69	-0.41	-0.74	0.52
FCF Conversion (FCF/Net Income)	1.28x	0.52x	1.73x	1.35x	3.85x	2.61x	-0.20x	1.15x	-1.80x	-1.03x
Interest Paid	16.41M	11.96M	13.53M	13.24M	7.95M	3.51M	1.38M	3.4M	12.09M	11.46M
Taxes Paid	10.33M	18.44M	12.84M	7.09M	7.29M	25.3M	25.84M	18.15M	1.65M	411K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	212.36%	44.47%	36.98%	21.4%	58.03%	41.81%	13.34%	-10.4%	-13.22%
Return on Invested Capital (ROIC)	25.94%	22.76%	15.02%	13.25%	6.58%	19.95%	13.36%	6.78%	-2.66%	-1.91%
Gross Margin	32.68%	33.75%	33.82%	33.56%	33.46%	32.82%	32.55%	32.89%	29.77%	30.93%
Net Margin	3.8%	3.8%	2.19%	2.8%	2.28%	6.29%	7.2%	2.9%	-2.25%	-2.76%
Debt / Equity	-	6.52x	3.88x	2.29x	3.61x	1.36x	1.09x	1.34x	1.82x	1.93x
Interest Coverage	4.19x	4.53x	3.39x	3.33x	4.19x	35.01x	65.67x	13.84x	-1.97x	-1.49x
FCF Conversion	1.28x	0.52x	1.73x	1.35x	3.85x	2.61x	-0.20x	1.15x	-1.80x	-1.03x
Revenue Growth	10.59%	6.86%	3.81%	4.87%	4.39%	63.78%	3.74%	-7.08%	-7.97%	-7.02%

Frequently Asked Questions

Growth & Financials

Sportsman's Warehouse Holdings, Inc. (SPWH) reported $1.21B in revenue for fiscal year 2024. This represents a 221% increase from $376.6M in 2011.

Sportsman's Warehouse Holdings, Inc. (SPWH) saw revenue decline by 7.0% over the past year.

Sportsman's Warehouse Holdings, Inc. (SPWH) reported a net loss of $37.4M for fiscal year 2024.

Dividend & Returns

Sportsman's Warehouse Holdings, Inc. (SPWH) has a return on equity (ROE) of -13.2%. Negative ROE indicates the company is unprofitable.

Sportsman's Warehouse Holdings, Inc. (SPWH) had negative free cash flow of $54.6M in fiscal year 2024, likely due to heavy capital investments.