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Smith & Wesson Brands, Inc. (SWBI) 10-Year Financial Performance & Capital Metrics

SWBI • • Industrial / General
IndustrialsAerospace & DefenseDefense Electronics & Mission SystemsMilitary Communications & Networks
AboutSmith & Wesson Brands, Inc. designs, manufactures, and sells firearms worldwide. The company offers handguns, including revolvers and pistols; long guns, such as modern sporting rifles, bolt action rifles; handcuffs; suppressors; and other firearm-related products under the Smith & Wesson, M&P, and Gemtech brands. It also provides manufacturing services comprising forging, heat treating, rapid prototyping, tooling, finishing, plating, machining, and custom plastic injection molding to other businesses under the Smith & Wesson and Smith & Wesson Precision Components brand names; and sells parts purchased through third parties. The company sells its products to firearm enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement, security agencies and officers, and military agencies. It markets its products through independent dealers, retailers, in-store retails, and direct to consumers; print, broadcast, and digital advertising campaigns; social and electronic media; and in-store retail merchandising strategies. Smith & Wesson Brands, Inc. was founded in 1852 and is based in Springfield, Massachusetts.Show more
  • Revenue $475M -11.4%
  • EBITDA $56M -27.9%
  • Net Income $13M -66.1%
  • EPS (Diluted) 0.30 -65.1%
  • Gross Margin 26.79% -9.2%
  • EBITDA Margin 11.74% -18.7%
  • Operating Margin 5.03% -39.8%
  • Net Margin 2.83% -61.7%
  • ROE 3.48% -65.6%
  • ROIC 4.08% -50.7%
  • Debt/Equity 0.31 +58.4%
  • Interest Coverage 5.17 -76.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Healthy dividend yield of 4.9%
  • ✓Share count reduced 4.0% through buybacks
  • ✓Healthy 5Y average net margin of 12.8%
  • ✓Trading at only 1.3x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Sales declining 6.9% over 5 years
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-1.5%
5Y-6.89%
3Y-18.1%
TTM-9.38%

Profit (Net Income) CAGR

10Y-12.25%
5Y-
3Y-58.98%
TTM-72.5%

EPS CAGR

10Y-10.4%
5Y-
3Y-58.11%
TTM-71.57%

ROCE

10Y Avg25.24%
5Y Avg32.83%
3Y Avg8.56%
Latest4.89%

Peer Comparison

Military Communications & Networks
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Valuation
Per Share
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Quality & Returns
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
AXONAxon Enterprise, Inc.50.18B631.73131.6133.44%10.05%8.49%0.66%0.60
CDRECadre Holdings, Inc.1.72B42.2946.9917.62%7.33%13.33%1.52%0.77
SWBISmith & Wesson Brands, Inc.468.52M10.5335.10-11.42%2.12%2.73%0.31
BYRNByrna Technologies Inc.402.24M17.7032.18101.1%14.43%25.33%2.33%0.05
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NPKNational Presto Industries, Inc.845.79M118.2620.3213.88%9.23%11.11%0.03
PEWGrabAGun Digital Holdings Inc.112.26M3.7413.856.92%
GPUSHyperscale Data, Inc.106.72M0.33-0.01-31.82%-38.79%-63.6%57.56

Profit & Loss

Apr 2016Apr 2017Apr 2018Apr 2019Apr 2020Apr 2021Apr 2022Apr 2023Apr 2024Apr 2025
Sales/Revenue+722.91M903.19M606.85M638.28M678.39M1.06B864.13M479.24M535.83M474.66M
Revenue Growth %0.31%0.25%-0.33%0.05%0.06%0.56%-0.18%-0.45%0.12%-0.11%
Cost of Goods Sold+429.1M527.92M411.1M412.05M443.69M610.21M489.56M324.7M377.74M347.48M
COGS % of Revenue0.59%0.58%0.68%0.65%0.65%0.58%0.57%0.68%0.7%0.73%
Gross Profit+293.81M375.27M195.75M226.23M234.71M448.98M374.56M154.54M158.09M127.18M
Gross Margin %0.41%0.42%0.32%0.35%0.35%0.42%0.43%0.32%0.3%0.27%
Gross Profit Growth %0.51%0.28%-0.48%0.16%0.04%0.91%-0.17%-0.59%0.02%-0.2%
Operating Expenses+135.17M175.33M168.7M177.78M184.86M129.35M122.91M106.13M113.31M103.3M
OpEx % of Revenue0.19%0.19%0.28%0.28%0.27%0.12%0.14%0.22%0.21%0.22%
Selling, General & Admin125.16M165.09M157.34M164.91M172.5M121.87M115.65M98.58M106.05M96.25M
SG&A % of Revenue0.17%0.18%0.26%0.26%0.25%0.12%0.13%0.21%0.2%0.2%
Research & Development10.01M10.24M11.36M12.87M12.36M7.48M7.26M7.55M7.27M9.57M
R&D % of Revenue0.01%0.01%0.02%0.02%0.02%0.01%0.01%0.02%0.01%0.02%
Other Operating Expenses-22K-52K033K83K00150K0-2.52M
Operating Income+158.64M199.94M27.05M38.06M49.93M319.63M251.65M48.41M44.78M23.88M
Operating Margin %0.22%0.22%0.04%0.06%0.07%0.3%0.29%0.1%0.08%0.05%
Operating Income Growth %0.77%0.26%-0.86%0.41%0.31%5.4%-0.21%-0.81%-0.07%-0.47%
EBITDA+197.2M249.23M78.02M91.48M81.21M350.32M281.64M79.75M77.34M55.73M
EBITDA Margin %0.27%0.28%0.13%0.14%0.12%0.33%0.33%0.17%0.14%0.12%
EBITDA Growth %0.64%0.26%-0.69%0.17%-0.11%3.31%-0.2%-0.72%-0.03%-0.28%
D&A (Non-Cash Add-back)38.56M49.3M50.97M53.43M31.29M30.68M29.98M31.35M32.56M31.84M
EBIT157.1M199.89M28.79M43.52M50.8M319.63M251.65M49.76M51.45M23.87M
Net Interest Income+-13.53M-8.58M-11.17M-9.79M-11.63M-3.92M-2.13M-331K-2.06M-4.62M
Interest Income176K000000000
Interest Expense13.7M8.58M11.17M9.79M11.63M3.92M2.13M331K2.06M4.62M
Other Income/Expense-13.55M-8.63M-9.43M-14.78M-11.13M-1.67M733K-181K4.62M-4.64M
Pretax Income+145.09M191.31M17.62M28.74M-59.95M317.96M252.39M48.23M49.4M19.25M
Pretax Margin %0.2%0.21%0.03%0.05%-0.09%0.3%0.29%0.1%0.09%0.04%
Income Tax+51.13M63.45M-2.51M10.33M1.28M74.39M57.89M11.35M9.79M5.82M
Effective Tax Rate %0.65%0.67%1.14%0.64%1.02%0.79%0.77%0.76%0.8%0.7%
Net Income+93.96M127.85M20.13M18.41M-61.23M252.05M194.49M36.88M39.61M13.43M
Net Margin %0.13%0.14%0.03%0.03%-0.09%0.24%0.23%0.08%0.07%0.03%
Net Income Growth %0.89%0.36%-0.84%-0.09%-4.33%5.12%-0.23%-0.81%0.07%-0.66%
Net Income (Continuing)93.96M127.85M20.13M24.92M27.65M243.57M194.49M36.88M39.61M13.43M
Discontinued Operations000008.48M0000
Minority Interest0000000000
EPS (Diluted)+1.682.250.370.33-1.114.554.080.800.860.30
EPS Growth %0.87%0.34%-0.84%-0.11%-4.36%5.1%-0.1%-0.8%0.07%-0.65%
EPS (Basic)1.722.290.370.34-1.114.624.120.800.860.30
Diluted Shares Outstanding55.97M56.89M54.83M55.22M54.98M55.35M47.73M46.17M46.25M44.4M
Basic Shares Outstanding54.77M55.93M54.06M54.48M54.98M54.61M47.23M45.84M45.81M44.04M
Dividend Payout Ratio-----0.03%0.08%0.5%0.56%1.72%

Balance Sheet

Apr 2016Apr 2017Apr 2018Apr 2019Apr 2020Apr 2021Apr 2022Apr 2023Apr 2024Apr 2025
Total Current Assets+333.23M318.44M270.36M298.68M393.45M268.25M327.6M291.92M287.88M277.26M
Cash & Short-Term Investments191.28M61.55M48.86M41.02M125.01M113.02M120.73M53.56M60.84M25.23M
Cash Only191.28M61.55M48.86M41.02M125.01M113.02M120.73M53.56M60.84M25.23M
Short-Term Investments0000000000
Accounts Receivable59.88M119.09M61.26M87.37M62.47M68.35M64.64M56.33M61.02M55.93M
Days Sales Outstanding30.2348.1336.8449.9633.6123.5527.342.941.5743.01
Inventory77.79M131.68M153.35M163.77M103.74M78.48M136.66M177.12M160.5M189.84M
Days Inventory Outstanding66.1791.04136.16145.0785.3446.94101.89199.1155.09199.41
Other Current Assets000094.67M004.92M4.97M6.26M
Total Non-Current Assets+286.27M469.6M474.7M468.11M336.06M178.13M169.88M249.37M290.1M282.35M
Property, Plant & Equipment135.41M149.69M159.13M183.27M147.74M141.61M135.59M210.33M253.98M242.65M
Fixed Asset Turnover5.34x6.03x3.81x3.48x4.59x7.48x6.37x2.28x2.11x1.96x
Goodwill76.36M169.02M191.29M182.27M19.02M19.02M19.02M19.02M19.02M19.02M
Intangible Assets62.92M141.32M112.76M91.84M4.38M4.42M3.61M3.59M2.6M2.41M
Long-Term Investments0000000000
Other Non-Current Assets11.59M9.58M11.52M10.73M164.92M13.08M9.86M7.68M7.26M8.01M
Total Assets+619.5M788.04M745.06M766.79M729.51M446.39M497.48M541.29M577.43M559.61M
Asset Turnover1.17x1.15x0.81x0.83x0.93x2.37x1.74x0.89x0.93x0.85x
Asset Growth %0.26%0.27%-0.05%0.03%-0.05%-0.39%0.11%0.09%0.07%-0.03%
Total Current Liabilities+122.59M151.25M100.68M111.28M129.97M125.66M88.95M87.21M94.38M66.64M
Accounts Payable45.51M53.45M33.62M35.58M31.48M57.34M30.04M36.8M41.83M26.89M
Days Payables Outstanding38.7136.9529.8531.5225.8934.322.441.3640.4228.24
Short-Term Debt6.3M6.3M6.3M6.3M000000
Deferred Revenue (Current)0001000K1000K1000K3K000
Other Current Liabilities4.33M4.57M5.74M5.24M21.78M4.78M3.7M3.26M2.74M3.24M
Current Ratio2.72x2.11x2.69x2.68x3.03x2.13x3.68x3.35x3.05x4.16x
Quick Ratio2.08x1.23x1.16x1.21x2.23x1.51x2.15x1.32x1.35x1.31x
Cash Conversion Cycle57.69102.22143.15163.5193.0636.2106.79200.64156.23214.18
Total Non-Current Liabilities+189.09M243.63M222.23M211.06M212.43M54.35M48.01M69.46M83.14M120.52M
Long-Term Debt166.56M210.66M180.3M149.43M159.17M0024.79M39.88M79.1M
Capital Lease Obligations0022.14M45.4M39.87M38.79M37.63M36.96M35.4M33.7M
Deferred Tax Liabilities12.16M25.62M12.89M9.78M457K904K0000
Other Non-Current Liabilities10.37M7.35M6.89M6.45M12.93M14.66M10.38M7.71M7.85M7.72M
Total Liabilities311.69M394.87M322.91M322.35M342.4M180M136.96M156.67M177.51M187.16M
Total Debt+174.32M217.98M209.18M201.81M201.6M41.18M40.28M64.46M77.8M114.73M
Net Debt-16.96M156.43M160.32M160.8M76.58M-71.83M-80.45M10.9M16.96M89.5M
Debt / Equity0.57x0.55x0.50x0.45x0.52x0.15x0.11x0.17x0.19x0.31x
Debt / EBITDA0.88x0.87x2.68x2.21x2.48x0.12x0.14x0.81x1.01x2.06x
Net Debt / EBITDA-0.09x0.63x2.05x1.76x0.94x-0.21x-0.29x0.14x0.22x1.61x
Interest Coverage11.58x23.30x2.42x3.89x4.29x81.56x117.87x146.24x21.79x5.17x
Total Equity+307.82M393.16M422.15M444.44M387.12M266.38M360.51M384.62M399.91M372.45M
Equity Growth %0.58%0.28%0.07%0.05%-0.13%-0.31%0.35%0.07%0.04%-0.07%
Book Value per Share5.506.917.708.057.044.817.558.338.658.39
Total Shareholders' Equity307.82M393.16M422.15M444.44M387.12M266.38M360.51M384.62M399.91M372.45M
Common Stock72K72K72K73K74K74K75K75K75K76K
Retained Earnings241.31M369.16M389.15M402.95M341.72M325.18M504.64M523.18M542.41M532.62M
Treasury Stock-172.32M-222.38M-222.38M-222.38M-222.38M-332.38M-422.38M-422.38M-432.64M-458.31M
Accumulated OCI-748K436K1.69M620K73K73K73K73K73K0
Minority Interest0000000000

Cash Flow

Apr 2016Apr 2017Apr 2018Apr 2019Apr 2020Apr 2021Apr 2022Apr 2023Apr 2024Apr 2025
Cash from Operations+168.56M123.58M61.64M57.45M94.96M315.33M137.81M16.73M106.74M-7.22M
Operating CF Margin %0.23%0.14%0.1%0.09%0.14%0.3%0.16%0.03%0.2%-0.02%
Operating CF Growth %0.47%-0.27%-0.5%-0.07%0.65%2.32%-0.56%-0.88%5.38%-1.07%
Net Income93.96M127.85M20.13M18.41M-61.23M243.57M194.49M36.88M39.61M13.43M
Depreciation & Amortization41.24M50.21M52.08M53.86M54.06M31.57M30.07M31.44M32.56M31.84M
Stock-Based Compensation6.47M8.59M7.82M7.99M2.36M4.71M4.54M5.1M5.68M7.61M
Deferred Taxes-4.45M-7.84M-8.78M-2.79M-12.01M447K-2.13M-6.86M835K-3.03M
Other Non-Cash Items767K1.65M-323K10.94M100.83M-2.51M1.4M-82K-5.62M-4.31M
Working Capital Changes30.57M-56.89M-9.28M-30.96M10.39M37.55M-90.56M-49.74M33.67M-52.76M
Change in Receivables-2.25M-40.71M51.38M-29M-8.63M-5.82M4.06M7.57M-3.9M3.2M
Change in Inventory-804K-22.17M-16.97M-10.53M-421K25.26M-58.18M-40.46M16.62M-29.34M
Change in Payables13.05M1.23M-21M3.39M3.68M25.54M-26.96M-8.61M18.34M-14.77M
Cash from Investing+-31.99M-243.74M-42.16M-34.83M-13.96M-23.4M-24.12M-89.78M-81.49M-19.17M
Capital Expenditures-30.92M-35.51M-19.05M-34.47M-14.74M-22.68M-24.25M-89.9M-90.76M-21.61M
CapEx % of Revenue0.04%0.04%0.03%0.05%0.02%0.02%0.03%0.19%0.17%0.05%
Acquisitions----------
Investments----------
Other Investing145K2.84M6K1.41M786K-1.14M-144K-216K9.27M2.43M
Cash from Financing+12.49M-9.56M-32.17M-30.47M3.38M-303.92M-105.99M5.88M-17.97M-9.21M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid00000-8.22M-15.04M-18.33M-22.02M-23.1M
Share Repurchases----------
Other Financing12.81M-5.1M2.06M1.57M655K-24.7M135K463K1.48M-469K
Net Change in Cash----------
Free Cash Flow+137.64M88.06M42.59M22.98M80.22M292.65M113.56M-73.17M15.79M-29.02M
FCF Margin %0.19%0.1%0.07%0.04%0.12%0.28%0.13%-0.15%0.03%-0.06%
FCF Growth %0.6%-0.36%-0.52%-0.46%2.49%2.65%-0.61%-1.64%1.22%-2.84%
FCF per Share2.461.550.780.421.465.292.38-1.580.34-0.65
FCF Conversion (FCF/Net Income)1.79x0.97x3.06x3.12x-1.55x1.25x0.71x0.45x2.69x-0.54x
Interest Paid13.01M7.65M10.62M9.47M11.1M3.31M2.22M2.15M4.75M5.19M
Taxes Paid50.92M85.22M1.39M10.57M6.93M80.87M59.18M18.21M12.66M7.29M

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)37.42%36.48%4.94%4.25%-14.73%77.14%62.05%9.9%10.1%3.48%
Return on Invested Capital (ROIC)38.73%35.68%3.58%4.81%7.01%72.84%79.53%10.75%8.27%4.08%
Gross Margin40.64%41.55%32.26%35.44%34.6%42.39%43.35%32.25%29.5%26.79%
Net Margin13%14.16%3.32%2.88%-9.03%23.8%22.51%7.69%7.39%2.83%
Debt / Equity0.57x0.55x0.50x0.45x0.52x0.15x0.11x0.17x0.19x0.31x
Interest Coverage11.58x23.30x2.42x3.89x4.29x81.56x117.87x146.24x21.79x5.17x
FCF Conversion1.79x0.97x3.06x3.12x-1.55x1.25x0.71x0.45x2.69x-0.54x
Revenue Growth30.99%24.94%-32.81%5.18%6.28%56.13%-18.42%-44.54%11.81%-11.42%

Revenue by Segment

2015201620172018201920202021202220232024
Product One------755.74M624.22M360.67M381.9M
Product One Growth--------17.40%-42.22%5.89%
Product Two------253.34M189.47M74.23M116.49M
Product Two Growth--------25.21%-60.82%56.93%
Other Products And Services------50.12M50.44M44.34M37.44M
Other Products And Services Growth-------0.64%-12.09%-15.56%
Firearms531.22M657.62M773M448.99M478.48M529.61M----
Firearms Growth-23.79%17.54%-41.92%6.57%10.69%----
Outdoor Products And Accessories--130.19M157.86M159.8M167.47M----
Outdoor Products And Accessories Growth---21.26%1.23%4.80%----

Revenue by Geography

2015201620172018201920202021202220232024
International-----26.19M21.85M25.53M19.77M24.59M
International Growth-------16.55%16.82%-22.56%24.39%
Asia1.46M3.99M4.05M4.72M3.87M6.25M7.25M3.9M5.41M9.35M
Asia Growth-172.66%1.43%16.78%-18.18%61.59%16.14%-46.26%38.78%72.72%
Latin America1.64M2.59M1.78M2.04M3.27M2.41M4.47M5.27M4.05M5.31M
Latin America Growth-57.82%-31.43%14.62%60.35%-26.22%85.52%17.86%-23.14%31.15%
Europe8.16M8.91M11.54M9.59M11.86M8.44M5.74M8.34M6.57M4.79M
Europe Growth-9.17%29.53%-16.97%23.72%-28.81%-31.99%45.28%-21.25%-27.14%

Frequently Asked Questions

Valuation & Price

Smith & Wesson Brands, Inc. (SWBI) has a price-to-earnings (P/E) ratio of 35.1x. This suggests investors expect higher future growth.

Growth & Financials

Smith & Wesson Brands, Inc. (SWBI) reported $466.4M in revenue for fiscal year 2025. This represents a 13% increase from $412.0M in 2012.

Smith & Wesson Brands, Inc. (SWBI) saw revenue decline by 11.4% over the past year.

Yes, Smith & Wesson Brands, Inc. (SWBI) is profitable, generating $9.9M in net income for fiscal year 2025 (2.8% net margin).

Dividend & Returns

Yes, Smith & Wesson Brands, Inc. (SWBI) pays a dividend with a yield of 4.94%. This makes it attractive for income-focused investors.

Smith & Wesson Brands, Inc. (SWBI) has a return on equity (ROE) of 3.5%. This is below average, suggesting room for improvement.

Smith & Wesson Brands, Inc. (SWBI) generated $36.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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