What is Sportsman's Warehouse's operating income?

Sportsman's Warehouse's total operating income in 2025 was -$18.24 million, based on the following breakdown: Total Gross Profit: $370.47 million Total Operating Expenses: $388.71 million

Sportsman's Warehouse (SPWH) Financials

$1.22 -0.01 (-0.81%)

Closing price 07/10/2026 04:00 PM Eastern

Extended Trading

$1.23 +0.01 (+0.41%)

As of 07/10/2026 07:00 PM Eastern

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Annual Income Statements for Sportsman's Warehouse

This table shows Sportsman's Warehouse's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Period end date	1/31/2015	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025
Net Income / (Loss) Attributable to Common Shareholders	14	28	30	18	24	20	91	108	41	-29	-33
Consolidated Net Income / (Loss)	14	28	30	18	24	20	91	108	41	-29	-33
Net Income / (Loss) Continuing Operations	14	28	30	18	24	20	91	108	41	-29	-33
Total Pre-Tax Income	22	45	47	33	31	25	121	144	54	-38	-31
Total Operating Income	45	59	61	47	44	33	123	91	58	-25	-18
Total Gross Profit	215	239	263	274	285	297	476	490	460	383	370
Total Revenue	640	707	780	810	849	886	1,452	1,506	1,400	1,288	1,198
Operating Revenue	640	707	780	810	849	886	1,452	1,506	1,400	1,288	1,198
Total Cost of Revenue	425	468	517	536	564	590	975	1,016	939	905	827
Operating Cost of Revenue	425	468	517	536	564	590	975	1,016	939	905	827
Total Operating Expenses	170	179	203	227	241	263	354	400	402	409	389
Selling, General & Admin Expense	170	179	203	227	241	263	354	400	402	409	389
Impairment Charge	-	-	-	-	-	-	-	-	-	0.00	0.00
Total Other Income / (Expense), net	-22	-14	-13	-14	-13	-8.00	-1.29	54	-4.20	-13	-13
Interest Expense	22	14	13	14	13	8.00	3.51	1.38	4.20	13	12
Other Income / (Expense), net	-	-	-	-	0.00	0.00	2.22	55	0.00	0.00	-0.61
Income Tax Expense	8.63	17	18	15	7.06	5.25	30	36	13	-9.21	1.93
Basic Earnings per Share	$0.34	$0.66	$0.70	$0.42	$0.55	$0.47	$2.10	$2.47	$1.00	($0.77)	($0.87)
Weighted Average Basic Shares Outstanding	39.96M	41.97M	42.19M	42.50M	42.88M	43.17M	43.53M	43.83M	40.49M	37.49M	37.81M
Diluted Earnings per Share	$0.34	$0.66	$0.70	$0.42	$0.55	$0.46	$2.06	$2.44	$1.00	($0.77)	($0.87)
Weighted Average Diluted Shares Outstanding	40.14M	42.33M	42.49M	42.52M	42.98M	43.59M	44.43M	44.54M	40.72M	37.49M	37.81M
Weighted Average Basic & Diluted Shares Outstanding	40.50M	42.10M	42.40M	42.20M	43.20M	43.30M	43.65M	43.88M	37.66M	37.63M	38.80M

This table shows Sportsman's Warehouse's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	5/3/2025	8/2/2025	11/1/2025	1/31/2026	5/2/2026
Net Income / (Loss) Attributable to Common Shareholders	-3.29	-1.33	-8.74	-18	-5.91	-0.36	-21	-7.08	0.01	-22	-22
Consolidated Net Income / (Loss)	-3.29	-1.33	-8.74	-18	-5.91	-0.36	-21	-7.08	0.01	-22	-22
Net Income / (Loss) Continuing Operations	-3.29	-1.33	-8.74	-18	-5.91	-0.36	-21	-7.08	0.01	-22	-22
Total Pre-Tax Income	-5.04	0.00	-12	-24	-7.96	-0.20	-23	-6.99	0.21	-22	-21
Total Operating Income	-1.52	3.07	-7.93	-21	-4.32	3.12	-20	-3.22	4.27	-19	-18
Total Gross Profit	101	103	99	74	90	103	76	94	109	95	76
Total Revenue	309	341	370	244	289	324	249	294	331	335	256
Operating Revenue	309	341	370	244	289	324	249	294	331	335	256
Total Cost of Revenue	209	237	271	170	199	221	173	200	223	240	180
Operating Cost of Revenue	209	237	271	170	199	221	173	200	223	240	180
Total Operating Expenses	102	100	107	94	94	100	95	97	104	114	94
Selling, General & Admin Expense	102	100	107	94	94	100	95	97	104	96	94
Total Other Income / (Expense), net	-3.53	-3.94	-3.35	-2.91	-3.64	-3.32	-2.97	-3.77	-4.05	-2.99	-2.70
Interest Expense	3.53	3.94	3.35	2.91	3.18	3.32	2.97	3.77	4.05	2.92	2.62
Other Income / (Expense), net	0.00	0.00	-	0.00	-0.46	0.00	0.00	0.00	0.00	-0.08	-0.08
Income Tax Expense	-1.76	0.46	-2.55	-5.47	-2.06	0.16	-1.33	0.10	0.21	-0.06	1.04
Basic Earnings per Share	($0.09)	($0.04)	($0.22)	($0.48)	($0.16)	($0.01)	($0.56)	($0.18)	$0.00	($0.56)	($0.56)
Weighted Average Basic Shares Outstanding	37.50M	37.39M	37.49M	37.57M	37.75M	37.87M	38.14M	38.38M	38.46M	38.39M	38.76M
Diluted Earnings per Share	($0.09)	($0.04)	($0.22)	($0.48)	($0.16)	($0.01)	($0.56)	($0.18)	$0.00	($0.56)	($0.56)
Weighted Average Diluted Shares Outstanding	37.50M	37.39M	37.49M	37.57M	37.75M	37.87M	38.14M	38.38M	39.16M	38.39M	38.76M
Weighted Average Basic & Diluted Shares Outstanding	37.39M	-	37.63M	-	37.85M	37.96M	38.32M	38.43M	38.48M	38.80M	39.02M

This table details how cash moves in and out of Sportsman's Warehouse's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Period end date	1/31/2015	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	1/31/2026
Net Change in Cash & Equivalents	0.40	0.36	-0.20	-0.14	-0.22	0.14	64	-8.51	-55	0.75	-1.17
Net Cash From Operating Activities	20	35	15	31	32	78	239	-22	47	52	31
Net Cash From Continuing Operating Activities	20	35	15	31	32	78	239	-22	47	52	31
Net Income / (Loss) Continuing Operations	14	28	30	18	24	20	91	108	41	-29	-50
Consolidated Net Income / (Loss)	14	28	30	18	24	20	91	108	41	-29	-50
Depreciation Expense	7.34	9.76	12	16	18	19	22	26	32	39	39
Amortization Expense	8.30	2.62	2.93	2.55	2.33	0.37	0.56	0.28	0.25	0.22	0.73
Non-Cash Adjustments To Reconcile Net Income	3.01	1.97	2.74	2.81	2.86	29	2.81	35	33	4.24	21
Changes in Operating Assets and Liabilities, net	-12	-6.71	-32	-8.19	-15	9.19	122	-191	-59	38	21
Net Cash From Investing Activities	-30	-15	-27	-32	-16	-49	-26	-53	-61	-80	-22
Net Cash From Continuing Investing Activities	-30	-15	-27	-32	-16	-49	-26	-53	-61	-80	-22
Purchase of Property, Plant & Equipment	-30	-34	-39	-41	-18	-30	-20	-53	-64	-80	-22
Acquisitions	-	-	-	-	-0.26	-29	-6.47	0.00	0.00	0.00	0.00
Sale of Property, Plant & Equipment	-	-	-	0.01	0.23	0.31	0.00	0.00	0.00	0.00	0.01
Net Cash From Financing Activities	10	-20	12	1.22	-16	-29	-149	67	-41	28	-10
Net Cash From Continuing Financing Activities	10	-20	12	1.22	-16	-29	-149	67	-41	28	-10
Repayment of Debt	-236	-18	-21	-3.13	-140	-6.00	-30	0.00	0.00	0.00	20
Repurchase of Common Equity	-	-	-	-	-	-	0.00	0.00	-65	-2.75	0.00
Issuance of Debt	173	-	36	-	124	-28	-116	66	21	39	-27
Issuance of Common Equity	73	-	0.43	0.40	0.35	0.40	0.58	0.00	0.89	0.80	0.21
Other Financing Activities, net	0.30	-1.88	-3.06	3.95	-0.35	5.16	-3.25	0.52	1.57	-8.21	-3.15
Cash Interest Paid	16	16	12	14	13	7.95	3.51	1.38	3.40	12	12
Cash Income Taxes Paid	10	10	18	13	7.09	7.29	25	26	18	1.65	-0.01

This table details how cash moves in and out of Sportsman's Warehouse's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	5/3/2025	8/2/2025	11/1/2025	2/1/2025	5/2/2026
Net Change in Cash & Equivalents	-0.15	0.02	0.23	-0.97	0.39	0.11	0.73	-1.76	0.44	0.28	0.40
Net Cash From Operating Activities	-21	42	69	-35	19	-2.54	-60	-27	16	105	-55
Net Cash From Continuing Operating Activities	-21	42	69	-35	19	-2.54	-60	-27	16	105	-55
Net Income / (Loss) Continuing Operations	-3.29	-1.33	-8.74	-18	-5.91	-0.36	-21	-7.08	0.01	-4.73	-22
Consolidated Net Income / (Loss)	-3.29	-1.33	-8.74	-18	-5.91	-0.36	-21	-7.08	0.01	-4.73	-22
Depreciation Expense	8.95	11	11	10	10	9.97	9.85	9.92	9.59	11	8.62
Amortization Expense	0.05	0.05	0.06	0.05	0.06	0.15	0.15	0.15	0.22	-0.11	0.21
Non-Cash Adjustments To Reconcile Net Income	10	13	-24	-2.00	4.86	1.08	0.86	12	0.78	2.38	0.85
Changes in Operating Assets and Liabilities, net	-37	19	91	-25	9.36	-13	-50	-42	5.70	96	-43
Net Cash From Investing Activities	-29	-19	-8.73	-3.29	-4.34	-3.62	-3.80	-7.37	-7.56	4.25	-4.24
Net Cash From Continuing Investing Activities	-29	-19	-8.73	-3.29	-4.34	-3.62	-3.80	-7.37	-7.56	4.25	-4.24
Purchase of Property, Plant & Equipment	-29	-19	-8.73	-3.31	-4.37	-3.62	-3.82	-7.37	-7.56	4.19	-4.24
Sale of Property, Plant & Equipment	-	-	-	0.02	0.03	-	0.01	-	-	0.07	0.01
Net Cash From Financing Activities	50	-22	-60	37	-14	6.26	65	32	-8.30	-109	60
Net Cash From Continuing Financing Activities	50	-22	-60	37	-14	6.26	65	32	-8.30	-109	60
Repayment of Debt	-63	-	-	0.00	25	-	0.00	20	-	5.00	0.00
Issuance of Debt	-	-18	-59	38	-33	-1.01	67	9.35	-13	-115	59
Other Financing Activities, net	-0.80	-4.80	-0.95	-1.03	-6.01	7.28	-2.44	2.73	5.01	0.81	1.37
Cash Interest Paid	0.57	6.21	3.54	2.69	3.26	3.06	2.82	3.47	3.07	2.10	2.70
Cash Income Taxes Paid	1.33	0.11	0.09	0.06	0.10	0.11	0.68	-1.00	0.23	0.50	-0.01

This table presents Sportsman's Warehouse's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Period end date	1/31/2015	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	1/31/2026
Total Assets	271	301	346	380	389	617	661	841	859	886	763
Total Current Assets	204	233	256	281	294	292	325	467	426	380	338
Cash & Equivalents	1.75	2.11	1.91	1.77	1.55	1.69	66	57	2.39	3.14	1.66
Accounts Receivable	0.43	0.47	0.41	0.32	0.25	0.90	0.58	1.94	2.05	2.12	4.39
Inventories, net	186	218	246	271	277	276	243	387	399	355	313
Prepaid Expenses	7.47	9.34	7.31	8.07	15	13	15	22	22	20	19
Current Deferred & Refundable Income Taxes	8.12	3.00	-	-	-	0.81	-	-	-	0.00	0.00
Plant, Property, & Equipment, net	54	62	83	94	92	99	99	128	163	194	133
Total Noncurrent Assets	13	6.19	7.22	4.87	3.24	226	237	245	270	312	292
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	-	-	1.22
Goodwill	-	-	-	-	-	1.50	1.50	1.50	1.50	1.50	1.50
Intangible Assets	5.73	3.92	2.12	0.28	0.25	0.22	0.29	0.26	0.39	0.33	0.21
Other Noncurrent Operating Assets	1.61	-	-	-	-	225	235	243	269	309	289
Total Liabilities & Shareholders' Equity	271	301	346	380	389	617	661	841	859	886	763
Total Liabilities	302	303	316	330	310	506	456	526	566	622	574
Total Current Liabilities	117	128	147	156	241	265	227	284	296	315	249
Short-Term Debt	43	34	62	61	152	122	0.00	66	88	126	48
Accounts Payable	29	47	32	37	25	38	77	59	62	56	45
Accrued Expenses	43	42	50	51	56	70	109	109	100	84	102
Current Deferred & Payable Income Tax Liabilities	-	1.78	0.98	2.59	1.84	0.00	4.92	9.50	0.93	0.13	0.06
Other Current Liabilities	-	-	-	-	-	34	36	41	45	49	54
Total Noncurrent Liabilities	185	175	169	174	70	242	229	242	270	307	325
Long-Term Debt	157	146	134	132	28	24	-	-	-	0.00	44
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	0.56	0.43	5.78	9.54	0.00	0.00
Other Noncurrent Operating Liabilities	-	-	-	-	-	217	228	236	260	307	281
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-31	-2.06	30	50	79	110	205	314	293	265	189
Total Preferred & Common Equity	-31	-2.06	30	50	79	110	205	314	293	265	189
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-31	-2.06	30	50	79	110	205	314	293	265	189
Common Stock	77	78	81	83	85	87	90	91	80	82	89
Retained Earnings	-108	-80	-51	-33	-6.44	23	114	223	213	182	99

This table presents Sportsman's Warehouse's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	7/29/2023	10/28/2023	5/4/2024	8/3/2024	11/2/2024	5/3/2025	8/2/2025	11/1/2025	5/2/2026
Total Assets	996	980	930	902	968	930	949	914	838
Total Current Assets	495	483	415	385	463	441	468	446	411
Cash & Equivalents	2.89	2.92	2.17	2.56	2.67	3.56	1.80	2.25	2.05
Accounts Receivable	2.77	3.11	2.10	2.30	1.45	2.93	2.67	5.06	1.64
Inventories, net	457	446	392	363	438	412	443	424	387
Prepaid Expenses	27	30	19	17	20	23	20	15	20
Current Deferred & Refundable Income Taxes	5.25	0.62	0.00	0.02	0.52	0.00	0.00	0.00	0.00
Plant, Property, & Equipment, net	198	200	188	182	175	163	161	159	129
Total Noncurrent Assets	304	298	327	335	330	326	320	309	298
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	1.14
Goodwill	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.50
Intangible Assets	0.36	0.34	0.31	0.30	0.28	0.25	0.24	0.23	0.20
Other Noncurrent Operating Assets	302	296	320	325	321	324	318	307	296
Total Liabilities & Shareholders' Equity	996	980	930	902	968	930	949	914	838
Total Liabilities	724	708	683	659	724	715	740	704	671
Total Current Liabilities	418	406	368	316	387	379	393	370	349
Short-Term Debt	203	185	164	131	130	142	151	138	106
Accounts Payable	75	83	70	55	113	88	90	63	76
Accrued Expenses	91	89	84	80	95	98	99	116	111
Current Deferred & Payable Income Tax Liabilities	0.00	0.00	0.07	0.00	0.00	0.49	0.23	0.21	0.71
Other Current Liabilities	48	48	49	49	49	50	52	53	55
Total Noncurrent Liabilities	306	302	315	343	337	336	347	334	322
Long-Term Debt	-	-	-	24	24	24	44	44	44
Noncurrent Deferred & Payable Income Tax Liabilities	7.15	2.88	0.00	0.00	0.00	0.00	0.00	0.00	0.41
Other Noncurrent Operating Liabilities	299	299	315	319	313	312	303	290	277
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	273	272	248	243	244	215	209	210	167
Total Preferred & Common Equity	273	272	248	243	244	215	209	210	167
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	273	272	248	243	244	215	209	210	167
Common Stock	80	81	83	85	86	87	88	89	90
Retained Earnings	192	191	164	158	158	128	121	121	77

This table displays calculated financial ratios and metrics derived from Sportsman's Warehouse's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2025
Period end date	1/31/2015	1/30/2016	1/28/2017	2/3/2018	2/2/2019	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.51%	10.45%	10.36%	3.81%	4.87%	4.39%	63.78%	3.74%	-7.08%	-7.97%	0.00%
EBITDA Growth	-17.37%	18.43%	5.70%	-14.25%	-1.03%	-17.40%	177.34%	16.81%	-47.69%	-84.64%	0.00%
EBIT Growth	-25.22%	32.12%	2.32%	-23.27%	-5.47%	-23.98%	273.43%	16.53%	-60.13%	-143.64%	0.00%
NOPAT Growth	-26.87%	32.12%	4.39%	-33.91%	34.82%	-21.72%	247.69%	-26.21%	-35.91%	-140.61%	0.00%
Net Income Growth	-36.63%	101.47%	6.83%	-40.20%	33.86%	-14.88%	352.04%	18.70%	-62.65%	-171.57%	0.00%
EPS Growth	-48.48%	94.12%	6.06%	-40.00%	30.95%	-16.36%	347.83%	18.45%	-59.02%	-177.00%	0.00%
Operating Cash Flow Growth	60,114.71%	73.02%	-56.29%	98.78%	4.54%	142.02%	206.70%	-109.06%	316.38%	11.69%	0.00%
Free Cash Flow Firm Growth	98.48%	1,893.46%	-135.17%	179.07%	140.85%	60.29%	610.11%	-155.84%	90.21%	-137.62%	0.00%
Invested Capital Growth	21.15%	5.54%	27.06%	7.86%	6.50%	-1.04%	-45.30%	132.30%	17.02%	2.44%	0.00%
Revenue Q/Q Growth	-1.58%	6.50%	1.67%	2.77%	-0.06%	1.78%	14.16%	-1.43%	-2.58%	-0.68%	0.00%
EBITDA Q/Q Growth	6.37%	2.41%	1.54%	-5.20%	0.23%	-5.68%	24.53%	30.62%	-6.06%	-61.56%	0.00%
EBIT Q/Q Growth	-4.75%	15.51%	-1.61%	-8.87%	0.89%	-10.16%	29.42%	36.30%	-10.92%	-1,758.91%	0.00%
NOPAT Q/Q Growth	-8.69%	15.48%	-2.98%	-16.98%	20.48%	-5.60%	26.07%	-15.45%	-10.70%	-1,758.91%	0.00%
Net Income Q/Q Growth	-23.52%	42.02%	-2.79%	-20.78%	24.95%	-4.47%	27.81%	36.26%	-53.92%	-214.19%	0.00%
EPS Q/Q Growth	-26.09%	32.00%	-4.11%	-17.65%	22.22%	-6.12%	28.75%	35.56%	-51.22%	-175.00%	0.00%
Operating Cash Flow Q/Q Growth	-22.42%	-6.98%	-5.74%	-19.44%	266.56%	-25.45%	24.54%	-92.01%	-34.30%	234.01%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	16.29%	-55.98%	-44.44%	581.36%	-46.23%	22.79%	-74.96%	58.45%	61.41%	0.00%
Invested Capital Q/Q Growth	-8.61%	-7.67%	-5.24%	-4.53%	-9.74%	-1.61%	-14.50%	4.40%	-1.97%	-14.79%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.63%	33.75%	33.75%	33.82%	33.56%	33.46%	32.82%	32.55%	32.89%	29.77%	30.93%
EBITDA Margin	9.46%	10.14%	9.72%	8.03%	7.57%	5.99%	10.15%	11.43%	6.43%	1.07%	1.84%
Operating Margin	7.02%	8.39%	7.78%	5.75%	5.18%	3.78%	8.46%	6.02%	4.15%	-1.97%	-1.52%
EBIT Margin	7.02%	8.39%	7.78%	5.75%	5.18%	3.78%	8.61%	9.67%	4.15%	-1.97%	-1.57%
Profit (Net Income) Margin	2.15%	3.93%	3.80%	2.19%	2.80%	2.28%	6.29%	7.20%	2.90%	-2.25%	-2.76%
Tax Burden Percent	61.50%	61.50%	62.75%	54.04%	77.08%	79.37%	75.23%	75.20%	75.22%	75.90%	106.20%
Interest Burden Percent	49.92%	76.13%	77.92%	70.50%	70.00%	76.11%	97.19%	99.05%	92.78%	150.79%	165.13%
Effective Tax Rate	38.50%	38.50%	37.25%	45.96%	22.92%	20.63%	24.77%	24.80%	24.78%	0.00%	0.00%
Return on Invested Capital (ROIC)	18.13%	21.27%	19.04%	10.82%	13.61%	10.39%	46.94%	29.48%	12.45%	-4.63%	-3.85%
ROIC Less NNEP Spread (ROIC-NNEP)	12.08%	16.64%	14.52%	6.97%	8.11%	6.45%	44.47%	-113.29%	5.75%	-15.46%	-25.01%
Return on Net Nonoperating Assets (RNNOA)	-36.21%	-187.61%	193.32%	33.65%	23.36%	11.01%	11.10%	12.33%	0.89%	-5.77%	-10.18%
Return on Equity (ROE)	-18.09%	-166.34%	212.36%	44.47%	36.98%	21.40%	58.03%	41.81%	13.34%	-10.40%	-14.03%
Cash Return on Invested Capital (CROIC)	-1.00%	15.88%	-4.79%	3.26%	7.32%	11.43%	105.51%	-50.15%	-3.24%	-7.04%	0.00%
Operating Return on Assets (OROA)	18.14%	20.74%	18.74%	12.83%	11.46%	6.66%	19.56%	19.40%	6.83%	-2.90%	-2.21%
Return on Assets (ROA)	5.57%	9.71%	9.16%	4.89%	6.18%	4.02%	14.31%	14.45%	4.77%	-3.32%	-3.88%
Return on Common Equity (ROCE)	-18.13%	-166.34%	212.36%	44.47%	36.98%	21.40%	58.03%	41.81%	13.34%	-10.40%	-14.03%
Return on Equity Simple (ROE_SIMPLE)	-43.99%	-1,348.76%	98.89%	35.63%	30.19%	18.33%	44.65%	34.53%	13.82%	0.00%	-14.03%
Net Operating Profit after Tax (NOPAT)	28	36	38	25	34	27	92	68	44	-18	-13
NOPAT Margin	4.31%	5.16%	4.88%	3.11%	4.00%	3.00%	6.36%	4.52%	3.12%	-1.38%	-1.07%
Net Nonoperating Expense Percent (NNEP)	6.05%	4.63%	4.52%	3.85%	5.50%	3.94%	2.47%	142.76%	6.70%	10.83%	21.16%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	11.47%	-4.54%	-3.82%
Cost of Revenue to Revenue	66.37%	66.25%	66.25%	66.18%	66.44%	66.54%	67.18%	67.45%	67.11%	70.23%	69.07%
SG&A Expenses to Revenue	26.62%	25.36%	25.97%	28.07%	28.37%	29.69%	24.36%	26.54%	28.74%	31.74%	32.46%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.62%	25.36%	25.97%	28.07%	28.37%	29.69%	24.36%	26.54%	28.74%	31.74%	32.46%
Earnings before Interest and Taxes (EBIT)	45	59	61	47	44	33	125	146	58	-25	-19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	61	72	76	65	64	53	147	172	90	14	22
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	11.11	4.20	2.79	2.54	3.73	1.49	1.21	0.52	0.33
Price to Tangible Book Value (P/TBV)	0.00	0.00	11.95	4.22	2.80	2.58	3.77	1.49	1.21	0.53	0.33
Price to Revenue (P/Rev)	0.47	0.78	0.43	0.26	0.26	0.32	0.53	0.31	0.25	0.11	0.06
Price to Earnings (P/E)	21.63	19.83	11.23	11.78	9.26	13.86	8.36	4.30	8.73	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.62%	5.04%	8.90%	8.49%	10.80%	7.22%	11.96%	23.23%	11.46%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.97	4.14	2.36	1.66	1.55	1.67	5.02	1.47	1.16	0.67	0.52
Enterprise Value to Revenue (EV/Rev)	0.78	1.03	0.68	0.49	0.47	0.48	0.48	0.32	0.31	0.20	0.14
Enterprise Value to EBITDA (EV/EBITDA)	8.20	10.17	6.96	6.17	6.19	7.99	4.74	2.77	4.87	18.89	7.88
Enterprise Value to EBIT (EV/EBIT)	11.06	12.29	8.69	8.60	9.05	12.68	5.59	3.27	7.56	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	17.98	19.98	13.84	15.92	11.74	15.97	7.56	6.98	10.05	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	24.24	20.58	34.04	13.02	12.38	5.45	2.93	0.00	9.38	5.00	5.08
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	26.77	0.00	52.91	21.84	14.51	3.37	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-6.38	-87.56	6.52	3.88	2.29	1.32	0.00	0.21	0.30	0.48	0.42
Long-Term Debt to Equity	-5.00	-71.07	4.46	2.66	0.35	0.22	0.00	0.00	0.00	0.00	0.10
Financial Leverage	-3.00	-11.27	13.31	4.83	2.88	1.71	0.25	-0.11	0.16	0.37	0.41
Leverage Ratio	-3.25	-17.13	23.18	9.10	5.98	5.32	4.06	2.89	2.80	3.13	3.62
Compound Leverage Factor	-1.62	-13.04	18.06	6.41	4.19	4.05	3.94	2.87	2.60	4.72	5.97
Debt to Total Capital	118.58%	101.16%	86.71%	79.52%	69.58%	56.94%	0.00%	17.37%	22.99%	32.27%	29.52%
Short-Term Debt to Total Capital	25.64%	19.05%	27.45%	25.08%	58.86%	47.65%	0.00%	17.37%	22.99%	32.27%	22.32%
Long-Term Debt to Total Capital	92.94%	82.11%	59.25%	54.44%	10.72%	9.29%	0.00%	0.00%	0.00%	0.00%	7.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-18.58%	-1.16%	13.29%	20.48%	30.42%	43.06%	100.00%	82.63%	77.01%	67.73%	70.48%
Debt to EBITDA	3.30	2.51	2.58	2.98	2.80	2.74	0.00	0.38	0.97	9.12	4.49
Net Debt to EBITDA	3.27	2.49	2.56	2.95	2.77	2.71	0.00	0.05	0.95	8.89	4.36
Long-Term Debt to EBITDA	2.59	2.04	1.76	2.04	0.43	0.45	0.00	0.00	0.00	0.00	1.09
Debt to NOPAT	7.24	4.94	5.14	7.68	5.30	5.49	0.00	0.97	2.00	-7.11	-7.73
Net Debt to NOPAT	7.18	4.88	5.09	7.61	5.26	5.43	0.00	0.13	1.95	-6.93	-7.51
Long-Term Debt to NOPAT	5.68	4.01	3.51	5.26	0.82	0.90	0.00	0.00	0.00	0.00	-1.89
Altman Z-Score	3.33	4.13	3.64	3.19	3.12	2.05	4.25	3.53	2.76	1.87	1.77
Noncontrolling Interest Sharing Ratio	-0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.74	1.82	1.74	1.80	1.22	1.10	1.43	1.64	1.44	1.21	1.29
Quick Ratio	0.02	0.02	0.02	0.01	0.01	0.01	0.29	0.21	0.02	0.02	0.02
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1.52	27	-9.58	7.57	18	29	208	-116	-11	-27	0.00
Operating Cash Flow to CapEx	67.87%	104.32%	39.28%	74.77%	181.67%	259.03%	1,208.95%	-40.46%	73.68%	65.42%	235.84%
Free Cash Flow to Firm to Interest Expense	-0.07	1.92	-0.71	0.55	1.38	3.66	59.21	-84.00	-2.71	-2.10	0.00
Operating Cash Flow to Interest Expense	0.91	2.50	1.16	2.24	2.44	9.74	68.12	-15.67	11.15	4.06	2.78
Operating Cash Flow Less CapEx to Interest Expense	-0.43	0.10	-1.79	-0.76	1.10	5.98	62.48	-54.40	-3.99	-2.15	1.60
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.59	2.47	2.41	2.23	2.21	1.76	2.27	2.01	1.65	1.48	1.41
Accounts Receivable Turnover	1,527.13	1,581.13	1,772.63	2,218.28	2,989.89	1,537.56	1,955.24	1,196.24	701.51	617.44	496.94
Inventory Turnover	2.45	2.32	2.23	2.07	2.06	2.14	3.76	3.22	2.39	2.40	2.42
Fixed Asset Turnover	14.91	12.11	10.72	9.14	9.12	9.29	14.67	13.24	9.62	7.21	7.14
Accounts Payable Turnover	15.12	12.45	13.21	15.68	18.28	18.69	16.87	14.90	15.54	15.32	12.92
Days Sales Outstanding (DSO)	0.24	0.23	0.21	0.16	0.12	0.24	0.19	0.31	0.52	0.59	0.73
Days Inventory Outstanding (DIO)	149.23	157.35	163.91	176.05	177.00	170.85	97.10	113.19	152.66	152.09	150.89
Days Payable Outstanding (DPO)	24.14	29.31	27.64	23.28	19.97	19.53	21.63	24.50	23.48	23.82	28.26
Cash Conversion Cycle (CCC)	125.33	128.27	136.48	152.94	157.15	151.55	75.66	88.99	129.69	128.86	123.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	167	176	224	241	257	254	139	323	378	387	332
Invested Capital Turnover	4.20	4.12	3.90	3.48	3.41	3.47	7.38	6.52	3.99	3.36	3.61
Increase / (Decrease) in Invested Capital	29	9.25	48	18	16	-2.67	-115	184	55	9.23	0.00
Enterprise Value (EV)	496	729	527	401	398	424	699	476	439	261	173
Market Capitalization	298	551	333	209	220	280	764	467	354	138	77
Book Value per Share	($0.75)	($0.05)	$0.71	$1.17	$1.83	$2.55	$4.69	$7.16	$7.78	$7.06	$6.21
Tangible Book Value per Share	($0.89)	($0.14)	$0.66	$1.16	$1.83	$2.51	$4.65	$7.12	$7.73	$7.01	$6.16
Total Capital	169	178	226	243	259	256	205	380	381	391	334
Total Debt	200	180	196	193	180	146	0.00	66	88	126	99
Total Long-Term Debt	157	146	134	132	28	24	0.00	0.00	0.00	0.00	24
Net Debt	198	178	194	192	178	144	-66	9.04	85	123	96
Capital Expenditures (CapEx)	30	34	39	41	18	30	20	53	64	80	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	128	137	169	184	204	147	32	192	215	188	154
Debt-free Net Working Capital (DFNWC)	130	139	171	186	205	149	97	249	218	191	157
Net Working Capital (NWC)	86	105	109	125	53	27	97	183	130	65	82
Net Nonoperating Expense (NNE)	14	8.71	8.41	7.42	10	6.35	0.97	-40	3.16	11	20
Net Nonoperating Obligations (NNO)	198	178	194	192	178	144	-66	9.04	85	123	96
Total Depreciation and Amortization (D&A)	16	12	15	18	20	20	22	26	32	39	41
Debt-free, Cash-free Net Working Capital to Revenue	19.99%	19.33%	21.64%	22.78%	23.97%	16.61%	2.18%	12.76%	15.38%	14.62%	12.85%
Debt-free Net Working Capital to Revenue	20.27%	19.63%	21.88%	23.00%	24.16%	16.80%	6.70%	16.54%	15.55%	14.86%	13.08%
Net Working Capital to Revenue	13.51%	14.83%	13.94%	15.46%	6.23%	3.03%	6.70%	12.16%	9.29%	5.08%	6.85%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.34	$0.66	$0.70	$0.42	$0.55	$0.47	$2.10	$2.47	$1.00	($0.77)	($0.87)
Adjusted Weighted Average Basic Shares Outstanding	39.96M	41.97M	42.19M	42.50M	42.88M	43.17M	43.53M	43.83M	40.49M	37.49M	37.81M
Adjusted Diluted Earnings per Share	$0.34	$0.66	$0.70	$0.42	$0.55	$0.46	$2.06	$2.44	$1.00	($0.77)	($0.87)
Adjusted Weighted Average Diluted Shares Outstanding	40.14M	42.33M	42.49M	42.52M	42.98M	43.59M	44.43M	44.54M	40.72M	37.49M	37.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	41.82M	42.00M	42.27M	42.62M	42.98M	43.30M	43.65M	43.88M	37.66M	37.63M	38.12M
Normalized Net Operating Profit after Tax (NOPAT)	28	36	38	25	34	27	92	68	44	-18	-13
Normalized NOPAT Margin	4.31%	5.16%	4.88%	3.11%	4.00%	3.00%	6.36%	4.52%	3.12%	-1.38%	-1.07%
Pre Tax Income Margin	3.50%	6.39%	6.06%	4.05%	3.63%	2.87%	8.37%	9.58%	3.85%	-2.97%	-2.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.00	4.19	4.53	3.39	3.33	4.19	35.64	105.52	13.84	-1.97	-1.54
NOPAT to Interest Expense	1.23	2.58	2.84	1.83	2.57	3.32	26.34	49.38	10.41	-1.38	-1.04
EBIT Less CapEx to Interest Expense	0.66	1.79	1.59	0.39	1.99	0.43	30.01	66.79	-1.30	-8.18	-2.71
NOPAT Less CapEx to Interest Expense	-0.11	0.18	-0.10	-1.16	1.23	-0.44	20.71	10.65	-4.73	-7.59	-2.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	159.80%	-9.48%	0.00%

This table displays calculated financial ratios and metrics derived from Sportsman's Warehouse's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	7/29/2023	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	5/3/2025	8/2/2025	11/1/2025	1/31/2026	5/2/2026
DEI Shares Outstanding	37,688,103.00	37,385,485.00	37,385,485.00	37,625,006.00	37,625,006.00	37,848,369.00	38,120,087.00	38,318,169.00	38,431,079.00	38,481,095.00	38,804,440.00
DEI Adjusted Shares Outstanding	37,688,103.00	37,385,485.00	37,385,485.00	37,625,006.00	37,625,006.00	37,848,369.00	38,120,087.00	38,318,169.00	38,431,079.00	38,481,095.00	38,804,440.00
DEI Earnings Per Adjusted Shares Outstanding	-0.09	-0.04	-0.23	-0.48	-0.16	-0.01	-0.56	-0.18	0.00	-0.56	-0.56
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-11.83%	-5.32%	-2.34%	-8.71%	-6.71%	-4.79%	1.99%	1.79%	2.18%	0.00%	2.80%
EBITDA Growth	-73.56%	-47.78%	-89.12%	-0.57%	-27.59%	-3.90%	5.69%	26.41%	6.39%	0.00%	2.77%
EBIT Growth	-107.39%	-83.39%	-149.45%	-8.80%	-215.10%	1.40%	4.92%	32.70%	36.98%	0.00%	7.30%
NOPAT Growth	-106.99%	-84.37%	-145.10%	-8.80%	-184.97%	1.40%	4.92%	25.58%	-92.68%	0.00%	7.69%
Net Income Growth	-122.50%	-110.34%	-179.24%	-15.52%	-79.62%	72.65%	-17.65%	-19.93%	102.20%	0.00%	-2.79%
EPS Growth	-125.71%	-112.12%	-181.48%	-14.29%	-77.78%	75.00%	-16.67%	-12.50%	100.00%	0.00%	0.00%
Operating Cash Flow Growth	-186.03%	537.28%	113.42%	6.31%	186.76%	-106.09%	-73.84%	-243.46%	742.14%	0.00%	8.08%
Free Cash Flow Firm Growth	-10.15%	-6.91%	65.38%	99.94%	167.95%	192.85%	40,551.89%	-111.90%	-90.49%	0.00%	170.92%
Invested Capital Growth	29.69%	17.86%	2.44%	-3.40%	-16.35%	-13.15%	-7.79%	1.67%	-1.45%	0.00%	-16.39%
Revenue Q/Q Growth	15.69%	10.04%	8.76%	-34.06%	18.22%	12.30%	0.00%	17.98%	12.73%	1.07%	-23.53%
EBITDA Q/Q Growth	173.85%	83.93%	-80.37%	-477.11%	153.17%	144.12%	0.00%	171.27%	105.46%	-156.12%	-18.32%
EBIT Q/Q Growth	92.00%	302.50%	-358.24%	-160.02%	76.83%	165.17%	0.00%	83.60%	232.64%	-542.28%	3.66%
NOPAT Q/Q Growth	92.00%	302.50%	-358.24%	-160.02%	79.04%	172.06%	0.00%	83.60%	107.08%	-8,348.74%	3.69%
Net Income Q/Q Growth	78.98%	59.52%	-556.57%	-106.73%	67.31%	93.84%	0.00%	66.67%	100.11%	-271,750.00%	-0.53%
EPS Q/Q Growth	78.57%	55.56%	-450.00%	-118.18%	66.67%	93.75%	0.00%	67.86%	100.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	42.29%	295.34%	65.27%	-150.29%	153.44%	-113.71%	0.00%	55.90%	161.37%	541.83%	-152.91%
Free Cash Flow Firm Q/Q Growth	-35.67%	38.93%	77.86%	99.70%	165,563.03%	-16.55%	0.00%	-148.67%	166.67%	-100.00%	0.00%
Invested Capital Q/Q Growth	11.58%	-3.84%	-14.79%	5.66%	-3.38%	-0.16%	0.00%	6.53%	-3.22%	-28.42%	13.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.57%	30.30%	26.83%	30.21%	31.18%	31.79%	30.37%	31.97%	32.81%	28.43%	29.59%
EBITDA Margin	2.42%	4.04%	0.73%	-4.18%	1.88%	4.08%	-3.86%	2.33%	4.25%	-2.36%	-3.65%
Operating Margin	-0.49%	0.90%	-2.14%	-8.45%	-1.50%	0.96%	-7.87%	-1.09%	1.29%	-5.61%	-7.07%
EBIT Margin	-0.49%	0.90%	-2.14%	-8.45%	-1.66%	0.96%	-7.87%	-1.09%	1.29%	-5.64%	-7.10%
Profit (Net Income) Margin	-1.06%	-0.39%	-2.36%	-7.40%	-2.05%	-0.11%	-8.53%	-2.41%	0.00%	-6.49%	-8.53%
Tax Burden Percent	65.19%	0.00%	71.89%	76.76%	74.17%	180.20%	94.11%	101.39%	3.74%	99.73%	105.01%
Interest Burden Percent	332.50%	0.00%	153.23%	114.10%	166.59%	-6.48%	115.15%	217.16%	5.02%	115.46%	114.43%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	96.26%	0.00%	0.00%
Return on Invested Capital (ROIC)	-1.08%	1.95%	-5.04%	-17.95%	-3.00%	1.94%	0.00%	0.00%	0.00%	-16.89%	-17.37%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.64%	-0.49%	-8.11%	-20.29%	-4.64%	0.42%	0.00%	0.00%	0.00%	-26.42%	-23.27%
Return on Net Nonoperating Assets (RNNOA)	-1.36%	-0.25%	-3.02%	-11.97%	-3.17%	0.27%	0.00%	0.00%	0.00%	-12.61%	-18.92%
Return on Equity (ROE)	-2.44%	1.69%	-8.07%	-29.91%	-6.17%	2.21%	0.00%	0.00%	0.00%	-29.50%	-36.29%
Cash Return on Invested Capital (CROIC)	-22.88%	-16.63%	-7.04%	-1.08%	13.00%	9.17%	8.11%	-1.65%	1.46%	0.00%	10.61%
Operating Return on Assets (OROA)	-0.70%	1.23%	-3.16%	-11.17%	-2.17%	1.21%	0.00%	0.00%	0.00%	-8.85%	-9.77%
Return on Assets (ROA)	-1.51%	-0.53%	-3.48%	-9.78%	-2.68%	-0.14%	0.00%	0.00%	0.00%	-10.19%	-11.74%
Return on Common Equity (ROCE)	-2.44%	1.69%	-8.07%	-29.91%	-6.17%	2.21%	0.00%	0.00%	0.00%	-29.50%	-36.29%
Return on Equity Simple (ROE_SIMPLE)	1.83%	-3.39%	0.00%	-12.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.06	2.15	-5.55	-14	-3.03	2.18	-14	-2.25	0.16	-13	-13
NOPAT Margin	-0.34%	0.63%	-1.50%	-5.91%	-1.05%	0.67%	-5.51%	-0.77%	0.05%	-3.93%	-4.95%
Net Nonoperating Expense Percent (NNEP)	1.56%	2.44%	3.06%	2.35%	1.63%	1.52%	4.64%	2.79%	0.09%	9.52%	5.90%
Return On Investment Capital (ROIC_SIMPLE)	-	0.47%	-1.42%	-3.51%	-0.76%	0.55%	-3.60%	-0.56%	0.04%	-4.70%	-3.99%
Cost of Revenue to Revenue	67.43%	69.70%	73.17%	69.79%	68.82%	68.21%	69.63%	68.03%	67.19%	71.57%	70.41%
SG&A Expenses to Revenue	33.06%	29.40%	28.97%	38.66%	32.67%	30.83%	38.24%	33.06%	31.53%	28.72%	36.66%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	33.06%	29.40%	28.97%	38.66%	32.67%	30.83%	38.24%	33.06%	31.53%	34.05%	36.66%
Earnings before Interest and Taxes (EBIT)	-1.52	3.07	-7.93	-21	-4.78	3.12	-20	-3.22	4.27	-19	-18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7.49	14	2.70	-10	5.42	13	-9.62	6.85	14	-7.90	-9.35
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.84	0.69	0.52	0.49	0.36	0.40	0.31	0.60	0.45	0.28	0.34
Price to Tangible Book Value (P/TBV)	0.85	0.70	0.53	0.49	0.37	0.41	0.32	0.60	0.46	0.28	0.34
Price to Revenue (P/Rev)	0.17	0.15	0.11	0.10	0.07	0.08	0.00	0.00	0.00	0.04	0.05
Price to Earnings (P/E)	46.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.91	0.81	0.67	0.69	0.61	0.63	0.61	0.79	0.71	0.51	0.65
Enterprise Value to Revenue (EV/Rev)	0.33	0.29	0.20	0.22	0.19	0.20	0.00	0.00	0.00	0.12	0.17
Enterprise Value to EBITDA (EV/EBITDA)	8.85	10.30	18.89	20.53	19.82	21.49	0.00	0.00	0.00	6.82	55.80
Enterprise Value to EBIT (EV/EBIT)	30.55	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	34.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	23.68	5.00	5.18	2.55	4.97	0.00	0.00	0.00	4.56	5.27
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	4.27	6.41	7.21	0.00	47.89	0.00	5.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.74	0.68	0.48	0.66	0.64	0.63	0.77	0.93	0.87	0.49	0.90
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.10	0.10	0.11	0.21	0.21	0.23	0.27
Financial Leverage	0.52	0.51	0.37	0.59	0.68	0.65	0.70	0.77	0.73	0.48	0.81
Leverage Ratio	3.35	3.43	3.13	3.65	3.68	3.78	4.02	4.10	4.15	4.04	4.62
Compound Leverage Factor	11.15	0.00	4.80	4.16	6.13	-0.24	4.63	8.89	0.21	4.67	5.29
Debt to Total Capital	42.68%	40.51%	32.27%	39.86%	38.95%	38.74%	43.56%	48.29%	46.47%	32.72%	47.37%
Short-Term Debt to Total Capital	42.68%	40.51%	32.27%	39.86%	32.92%	32.71%	37.23%	37.43%	35.23%	16.96%	33.42%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	6.04%	6.03%	6.34%	10.86%	11.24%	15.76%	13.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	57.32%	59.49%	67.73%	60.14%	61.05%	61.26%	56.44%	51.71%	53.53%	67.28%	52.63%
Debt to EBITDA	4.18	5.15	9.12	11.91	12.75	13.25	0.00	0.00	0.00	4.38	40.87
Net Debt to EBITDA	4.12	5.07	8.89	11.76	12.54	13.02	0.00	0.00	0.00	4.30	40.31
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	1.98	2.06	0.00	0.00	0.00	2.11	12.04
Debt to NOPAT	16.32	-194.31	-7.11	-8.68	-7.43	-7.39	0.00	0.00	0.00	-7.18	-6.00
Net Debt to NOPAT	16.09	-191.25	-6.93	-8.56	-7.31	-7.26	0.00	0.00	0.00	-7.05	-5.91
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-1.15	-1.15	0.00	0.00	0.00	-3.46	-1.77
Altman Z-Score	1.87	1.86	1.93	1.70	1.78	1.68	0.26	0.36	0.38	1.87	1.65
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.18	1.19	1.21	1.13	1.22	1.20	1.17	1.19	1.20	1.36	1.18
Quick Ratio	0.01	0.01	0.02	0.01	0.02	0.01	0.02	0.01	0.02	0.02	0.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-109	-67	-15	-0.04	74	62	18	-8.84	5.89	0.00	49
Operating Cash Flow to CapEx	-73.06%	217.15%	789.72%	-1,053.83%	426.39%	-70.16%	-1,583.44%	-360.69%	215.63%	0.00%	-1,307.44%
Free Cash Flow to Firm to Interest Expense	-31.00	-16.93	-4.41	-0.02	23.34	18.69	6.11	-2.35	1.45	0.00	18.75
Operating Cash Flow to Interest Expense	-6.05	10.57	20.56	-11.92	5.82	-0.77	-20.27	-7.05	4.02	35.86	-21.10
Operating Cash Flow Less CapEx to Interest Expense	-14.33	5.70	17.96	-13.05	4.45	-1.86	-21.55	-9.00	2.16	37.32	-22.72
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.42	1.36	1.48	1.32	1.31	1.26	0.00	0.00	0.00	1.57	1.38
Accounts Receivable Turnover	561.80	541.49	617.44	559.97	490.61	539.38	0.00	0.00	0.00	272.81	531.30
Inventory Turnover	1.99	1.91	2.40	2.06	2.14	1.95	0.00	0.00	0.00	2.64	2.11
Fixed Asset Turnover	7.86	7.48	7.21	6.93	6.56	6.55	0.00	0.00	0.00	8.98	8.34
Accounts Payable Turnover	10.23	8.34	15.32	9.72	13.43	8.79	0.00	0.00	0.00	18.41	10.27
Days Sales Outstanding (DSO)	0.65	0.67	0.59	0.65	0.74	0.68	0.00	0.00	0.00	1.34	0.69
Days Inventory Outstanding (DIO)	183.11	191.00	152.09	177.07	170.65	187.39	0.00	0.00	0.00	138.05	173.17
Days Payable Outstanding (DPO)	35.68	43.76	23.82	37.57	27.18	41.52	0.00	0.00	0.00	19.83	35.53
Cash Conversion Cycle (CCC)	148.09	147.91	128.86	140.15	144.22	146.54	0.00	0.00	0.00	119.56	138.33
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	473	455	387	409	396	395	378	402	389	279	316
Invested Capital Turnover	3.14	3.09	3.36	3.04	2.86	2.89	0.00	0.00	0.00	4.30	3.51
Increase / (Decrease) in Invested Capital	108	69	9.23	-14	-77	-60	-32	6.59	-5.73	0.00	-62
Enterprise Value (EV)	430	371	261	283	241	250	230	319	275	143	205
Market Capitalization	230	188	138	121	88	98	67	125	95	53	57
Book Value per Share	$7.24	$7.28	$7.06	$6.58	$6.44	$6.44	$5.64	$5.45	$5.45	$4.97	$4.31
Tangible Book Value per Share	$7.19	$7.23	$7.01	$6.53	$6.39	$6.39	$5.60	$5.41	$5.41	$4.92	$4.27
Total Capital	476	458	391	412	398	398	381	404	391	280	318
Total Debt	203	185	126	164	155	154	166	195	182	92	150
Total Long-Term Debt	0.00	0.00	0.00	0.00	24	24	24	44	44	44	44
Net Debt	200	182	123	162	153	151	162	193	180	90	148
Capital Expenditures (CapEx)	29	19	8.73	3.29	4.34	3.62	3.80	7.37	7.56	-4.25	4.24
Debt-free, Cash-free Net Working Capital (DFCFNWC)	277	259	188	209	198	203	201	225	211	135	166
Debt-free Net Working Capital (DFNWC)	280	262	191	211	201	206	205	227	213	136	168
Net Working Capital (NWC)	77	77	65	47	70	76	63	75	76	89	62
Net Nonoperating Expense (NNE)	2.23	3.48	3.19	3.63	2.88	2.54	7.52	4.83	0.15	8.57	9.18
Net Nonoperating Obligations (NNO)	200	182	123	162	153	151	162	193	180	90	148
Total Depreciation and Amortization (D&A)	9.01	11	11	10	10	10	10.00	10	9.82	11	8.83
Debt-free, Cash-free Net Working Capital to Revenue	21.06%	19.99%	14.62%	16.53%	15.92%	16.55%	0.00%	0.00%	0.00%	11.24%	13.65%
Debt-free Net Working Capital to Revenue	21.28%	20.22%	14.86%	16.70%	16.12%	16.77%	0.00%	0.00%	0.00%	11.38%	13.82%
Net Working Capital to Revenue	5.85%	5.92%	5.08%	3.73%	5.59%	6.18%	0.00%	0.00%	0.00%	7.41%	5.09%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.09)	($0.04)	($0.22)	($0.48)	($0.16)	$0.01	($0.56)	($0.18)	$0.00	($0.56)	($0.56)
Adjusted Weighted Average Basic Shares Outstanding	37.50M	37.39M	37.49M	37.57M	37.75M	37.87M	38.14M	38.38M	38.46M	38.39M	38.76M
Adjusted Diluted Earnings per Share	($0.09)	($0.04)	($0.22)	($0.48)	($0.16)	$0.01	($0.56)	($0.18)	$0.00	($0.56)	($0.56)
Adjusted Weighted Average Diluted Shares Outstanding	37.50M	37.39M	37.49M	37.57M	37.75M	37.87M	38.14M	38.38M	39.16M	38.39M	38.76M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.39M	0.00	37.63M	0.00	37.85M	37.96M	38.32M	38.43M	38.48M	38.80M	39.02M
Normalized Net Operating Profit after Tax (NOPAT)	-1.06	2.15	-5.55	-14	-3.03	2.18	-14	-2.25	2.99	-13	-13
Normalized NOPAT Margin	-0.34%	0.63%	-1.50%	-5.91%	-1.05%	0.67%	-5.51%	-0.77%	0.90%	-3.93%	-4.95%
Pre Tax Income Margin	-1.63%	0.00%	-3.28%	-9.64%	-2.76%	-0.06%	-9.07%	-2.38%	0.06%	-6.51%	-8.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.43	0.78	-2.37	-7.09	-1.50	0.94	-6.60	-0.85	1.05	-6.47	-6.93
NOPAT to Interest Expense	-0.30	0.55	-1.66	-4.97	-0.95	0.66	-4.62	-0.60	0.04	-4.51	-4.83
EBIT Less CapEx to Interest Expense	-8.71	-4.09	-4.97	-8.22	-2.87	-0.15	-7.88	-2.81	-0.81	-5.01	-8.54
NOPAT Less CapEx to Interest Expense	-8.58	-4.32	-4.26	-6.10	-2.32	-0.43	-5.90	-2.55	-1.83	-3.05	-6.44
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	310.08%	-55.10%	-9.48%	-6.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Sportsman's Warehouse Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Sportsman's Warehouse's financial year ends in February. Their financial year 2025 ended on February 1, 2025.

Sportsman's Warehouse's net income appears to be on a downward trend, with a most recent value of -$33.06 million in 2025, falling from $13.78 million in 2014. The previous period was -$29.00 million in 2023. View Sportsman's Warehouse's forecast to see where analysts expect Sportsman's Warehouse to go next.

Sportsman's Warehouse's total operating income in 2025 was -$18.24 million, based on the following breakdown:

Total Gross Profit: $370.47 million
Total Operating Expenses: $388.71 million

Over the last 10 years, Sportsman's Warehouse's total revenue changed from $639.87 million in 2014 to $1.20 billion in 2025, a change of 87.2%.

Sportsman's Warehouse's total liabilities were at $574.02 million at the end of 2025, a 7.7% decrease from 2023, and a 90.0% increase since 2014.

In the past 10 years, Sportsman's Warehouse's cash and equivalents has ranged from $1.55 million in 2018 to $65.53 million in 2020, and is currently $1.66 million as of their latest financial filing in 2025.

Over the last 10 years, Sportsman's Warehouse's book value per share changed from -0.75 in 2014 to 6.21 in 2025, a change of -928.8%.

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Financial statements for NASDAQ:SPWH last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Sportsman's Warehouse (SPWH) Financials

Financials Breakdown Chart

Sportsman's Warehouse Financials - Frequently Asked Questions

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Sportsman's Warehouse (SPWH) Financials

Annual Income Statements for Sportsman's Warehouse

Quarterly Income Statements for Sportsman's Warehouse

Annual Cash Flow Statements for Sportsman's Warehouse

Quarterly Cash Flow Statements for Sportsman's Warehouse

Annual Balance Sheets for Sportsman's Warehouse

Quarterly Balance Sheets for Sportsman's Warehouse

Annual Metrics And Ratios for Sportsman's Warehouse

Quarterly Metrics And Ratios for Sportsman's Warehouse

Financials Breakdown Chart

Sportsman's Warehouse Financials - Frequently Asked Questions

When does Sportsman's Warehouse's fiscal year end?

How has Sportsman's Warehouse's net income changed over the last 10 years?

What is Sportsman's Warehouse's operating income?

How has Sportsman's Warehouse's revenue changed over the last 10 years?

How much debt does Sportsman's Warehouse have?

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How has Sportsman's Warehouse's book value per share changed over the last 10 years?

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