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Smith & Wesson Brands (SWBI) Financials

Smith & Wesson Brands logo
$10.22 +0.14 (+1.34%)
Closing price 03:59 PM Eastern
Extended Trading
$10.09 -0.14 (-1.32%)
As of 04:15 PM Eastern
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Annual Income Statements for Smith & Wesson Brands

Annual Income Statements for Smith & Wesson Brands

This table shows Smith & Wesson Brands' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Period end date 4/30/2021 4/30/2022 4/30/2023 4/30/2024
Net Income / (Loss) Attributable to Common Shareholders		 252 194 37 40
Consolidated Net Income / (Loss)		 252 194 37 40
Net Income / (Loss) Continuing Operations		 244 194 37 40
Total Pre-Tax Income 		318 252 48 49
Total Operating Income		 320 252 48 45
Total Gross Profit		 449 375 155 158
Total Revenue		 1,059 864 479 536
Operating Revenue		 1,059 864 479 536
Total Cost of Revenue		 610 490 325 378
Operating Cost of Revenue		 610 490 325 378
Total Operating Expenses		 129 123 106 113
Selling, General & Admin Expense		 79 72 62 65
Marketing Expense		 43 43 37 41
Research & Development Expense		 7.48 7.26 7.55 7.27
Total Other Income / (Expense), net		 -1.67 0.73 -0.18 4.62
Interest & Investment Income		 -3.92 -2.14 -0.33 -2.06
Other Income / (Expense), net		 2.25 2.87 0.15 6.67
Income Tax Expense		 74 58 11 9.79
Basic Earnings per Share		 $4.62 $4.12 $0.80 $0.86
Weighted Average Basic Shares Outstanding		 54.61M 47.23M 45.84M 45.81M
Diluted Earnings per Share		 $4.55 $4.08 $0.80 $0.86
Weighted Average Diluted Shares Outstanding		 55.35M 47.73M 46.17M 46.25M
Weighted Average Basic & Diluted Shares Outstanding		 48.00M 45.76M 46.08M 45.56M
Cash Dividends to Common per Share		 - $0.32 $0.40 $0.48

Quarterly Income Statements for Smith & Wesson Brands

This table shows Smith & Wesson Brands' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q3 2025
Period end date 1/31/2022 4/30/2022 1/31/2023 7/31/2024 10/31/2023 1/31/2024 4/30/2024 1/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 31 151 11 -2.11 2.50 7.88 26 1.66
Consolidated Net Income / (Loss)		 31 151 11 -2.11 2.50 7.88 26 1.66
Net Income / (Loss) Continuing Operations		 31 151 11 -2.11 2.50 7.88 26 1.66
Total Pre-Tax Income 		40 195 14 -2.60 3.26 10 31 2.40
Total Operating Income		 40 195 14 -1.86 3.77 11 25 4.13
Total Gross Profit		 70 233 42 24 32 39 57 28
Total Revenue		 178 481 129 88 125 137 159 116
Operating Revenue		 178 481 129 88 125 137 159 116
Total Cost of Revenue		 107 248 87 64 93 98 103 88
Operating Cost of Revenue		 107 248 87 64 93 98 103 88
Total Operating Expenses		 31 38 28 26 28 28 31 24
Selling, General & Admin Expense		 17 22 16 14 15 16 20 13
Marketing Expense		 12 14 10.00 9.84 11 10 9.46 10
Research & Development Expense		 1.72 2.00 2.13 2.52 1.72 1.97 1.77 2.87
Other Operating Expenses / (Income)		 - - - - - - - -2.38
Total Other Income / (Expense), net		 0.16 -0.03 0.33 -0.74 -0.51 -0.97 5.89 -1.72
Interest & Investment Income		 -0.59 -0.69 -0.51 -0.73 -0.65 -0.96 -0.61 -1.72
Other Income / (Expense), net		 0.75 0.65 0.84 -0.01 0.14 -0.01 6.50 0.00
Income Tax Expense		 9.34 44 3.39 -0.49 0.77 2.43 5.16 0.74
Basic Earnings per Share		 $0.65 $3.20 $0.24 ($0.05) $0.05 $0.17 $0.57 $0.04
Weighted Average Basic Shares Outstanding		 46.76M 47.23M 45.90M 45.32M 45.98M 45.62M 45.81M 44.04M
Diluted Earnings per Share		 $0.65 $3.20 $0.24 ($0.05) $0.05 $0.17 $0.57 $0.04
Weighted Average Diluted Shares Outstanding		 47.18M 47.73M 46.17M 45.32M 46.36M 46.03M 46.25M 44.40M
Weighted Average Basic & Diluted Shares Outstanding		 45.51M 45.76M 45.90M 44.85M 44.00M 45.52M 45.56M 44.00M
Cash Dividends to Common per Share		 - $0.08 - - - $0.12 - $0.13

Annual Cash Flow Statements for Smith & Wesson Brands

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

Metric 2021 2022 2023 2024
Period end date 4/30/2021 4/30/2022 4/30/2023 4/30/2024
Net Change in Cash & Equivalents		 -12 7.71 -67 7.28
Net Cash From Operating Activities		 315 138 17 107
Net Cash From Continuing Operating Activities		 317 138 17 107
Net Income / (Loss) Continuing Operations		 244 194 37 40
Consolidated Net Income / (Loss)		 244 194 37 40
Depreciation Expense		 32 30 31 33
Non-Cash Adjustments To Reconcile Net Income		 3.02 5.58 4.85 0.21
Changes in Operating Assets and Liabilities, net		 39 -92 -56 34
Net Cash From Investing Activities		 -23 -24 -90 -81
Net Cash From Continuing Investing Activities		 -22 -24 -90 -81
Purchase of Property, Plant & Equipment		 -22 -24 -90 -91
Acquisitions		 -0.63 -0.28 -0.33 -0.19
Sale of Property, Plant & Equipment		 0.11 0.14 0.12 2.96
Divestitures		 - 0.00 0.00 6.50
Net Cash From Financing Activities		 -304 -106 5.88 -18
Net Cash From Continuing Financing Activities		 -304 -106 5.88 -18
Repayment of Debt		 -185 0.00 0.00 -35
Repurchase of Common Equity		 -110 -90 0.00 -10
Payment of Dividends		 -8.22 -15 -18 -22
Issuance of Debt		 25 0.00 25 50
Issuance of Common Equity		 3.15 1.72 1.53 1.48
Other Financing Activities, net		 -28 -2.67 -2.32 -2.22
Cash Interest Paid		 3.31 2.22 2.15 4.75
Cash Income Taxes Paid		 81 59 18 13

Quarterly Cash Flow Statements for Smith & Wesson Brands

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

Metric Q3 2022 Q4 2022 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 1/31/2022 4/30/2022 4/30/2023 7/31/2023 10/31/2024 1/31/2024 4/30/2024
Net Change in Cash & Equivalents		 72 13 8.96 1.92 3.58 16 13
Net Cash From Operating Activities		 140 26 38 41 -7.40 101 44
Net Cash From Continuing Operating Activities		 140 26 38 41 -7.40 101 44
Net Income / (Loss) Continuing Operations		 145 36 13 3.12 4.13 11 26
Consolidated Net Income / (Loss)		 145 36 13 3.12 4.13 11 26
Depreciation Expense		 7.24 7.66 9.64 9.25 8.21 8.03 8.27
Non-Cash Adjustments To Reconcile Net Income		 9.70 1.37 1.19 1.36 1.52 -2.66 -5.26
Changes in Operating Assets and Liabilities, net		 -22 -20 14 27 -21 84 14
Net Cash From Investing Activities		 24 -8.91 -25 -32 -3.21 -75 0.99
Net Cash From Continuing Investing Activities		 24 -8.91 -25 -32 -3.21 -75 0.99
Purchase of Property, Plant & Equipment		 24 -8.88 -25 -32 -3.30 -77 -5.57
Acquisitions		 0.04 -0.07 -0.08 -0.03 -0.09 -0.05 -0.02
Sale of Property, Plant & Equipment		 0.01 0.04 0.03 0.02 0.18 2.64 0.08
Net Cash From Financing Activities		 -93 -3.17 -3.99 -6.64 14 -11 -31
Net Cash From Continuing Financing Activities		 -93 -3.17 -3.99 -6.64 14 -11 -31
Repayment of Debt		 - - 0.23 0.00 -0.94 -9.06 -25
Repurchase of Common Equity		 -90 - - 0.00 -9.76 13 -1.09
Payment of Dividends		 -2.24 -3.64 -4.59 -5.54 -5.77 -4.91 -5.46
Issuance of Common Equity		 0.09 0.87 0.78 0.00 0.75 -0.03 0.76
Other Financing Activities, net		 -0.67 -0.41 -0.41 -1.10 -0.09 -0.56 -0.34
Cash Interest Paid		 0.58 0.55 0.41 0.53 1.04 0.96 1.43
Cash Income Taxes Paid		 34 9.78 2.43 0.49 6.42 3.90 1.98

Annual Balance Sheets for Smith & Wesson Brands

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

Metric 2021 2022 2023 2024
Period end date 4/30/2021 4/30/2022 4/30/2023 4/30/2024
Total Assets		 446 497 541 578
Total Current Assets		 268 328 292 288
Cash & Equivalents		 113 121 54 61
Accounts Receivable		 67 63 55 59
Inventories, net		 78 137 177 161
Prepaid Expenses		 8.41 5.57 4.92 4.97
Current Deferred & Refundable Income Taxes		 0.91 1.95 1.18 2.50
Plant, Property, & Equipment, net		 0.00 136 210 253
Total Noncurrent Assets		 178 34 39 37
Goodwill		 19 19 19 19
Intangible Assets		 4.42 3.61 3.59 2.60
Noncurrent Deferred & Refundable Income Taxes		 0.00 1.22 8.09 7.25
Other Noncurrent Operating Assets		 155 10 8.35 8.61
Total Liabilities & Shareholders' Equity		 446 497 541 578
Total Liabilities		 180 137 157 180
Total Current Liabilities		 126 89 87 97
Accounts Payable		 57 30 37 42
Accrued Expenses		 2.20 1.84 1.67 1.81
Current Deferred Revenue		 33 23 20 27
Current Employee Benefit Liabilities		 32 31 27 26
Total Noncurrent Liabilities		 54 48 69 83
Long-Term Debt		 0.00 0.00 25 40
Other Noncurrent Operating Liabilities		 53 48 45 43
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 266 361 385 398
Total Preferred & Common Equity		 266 361 385 398
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 266 361 385 398
Common Stock		 274 278 284 290
Retained Earnings		 325 505 523 541
Treasury Stock		 -332 -422 -422 -433
Accumulated Other Comprehensive Income / (Loss)		 0.07 0.07 0.07 0.07

Quarterly Balance Sheets for Smith & Wesson Brands

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

Metric Q3 2022 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q3 2025
Period end date 1/31/2022 1/31/2023 7/31/2024 10/31/2024 1/31/2024 1/31/2025
Total Assets		 469 529 571 587 571 579
Total Current Assets		 301 310 285 306 276 299
Cash & Equivalents		 107 45 36 39 47 27
Accounts Receivable		 49 58 48 53 61 57
Inventories, net		 134 193 190 196 154 199
Prepaid Expenses		 7.52 5.95 9.04 10 9.02 7.99
Current Deferred & Refundable Income Taxes		 2.23 7.66 3.18 8.12 5.61 7.63
Plant, Property, & Equipment, net		 135 186 249 244 257 243
Total Noncurrent Assets		 34 33 37 37 38 37
Goodwill		 19 19 19 19 19 19
Intangible Assets		 4.26 3.59 2.53 2.52 2.67 2.47
Noncurrent Deferred & Refundable Income Taxes		 - 1.22 7.25 7.25 8.09 7.31
Other Noncurrent Operating Assets		 11 9.28 8.39 8.13 7.78 7.93
Total Liabilities & Shareholders' Equity		 469 529 571 587 571 579
Total Liabilities		 143 155 193 218 194 215
Total Current Liabilities		 93 85 80 77 86 64
Accounts Payable		 36 38 29 32 36 25
Accrued Expenses		 2.04 1.68 1.74 1.49 2.11 1.44
Current Deferred Revenue		 27 19 28 30 24 27
Current Employee Benefit Liabilities		 28 26 21 14 23 11
Total Noncurrent Liabilities		 50 69 113 141 108 151
Long-Term Debt		 - 25 70 99 65 109
Other Noncurrent Operating Liabilities		 49 45 43 42 43 42
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 326 374 378 369 376 364
Total Preferred & Common Equity		 326 374 378 369 376 364
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 326 374 378 369 376 364
Common Stock		 276 282 291 293 288 295
Retained Earnings		 472 515 533 531 520 527
Treasury Stock		 -422 -422 -446 -455 -432 -458
Accumulated Other Comprehensive Income / (Loss)		 0.07 0.07 0.07 0.07 0.07 0.07

Annual Metrics And Ratios for Smith & Wesson Brands

This table displays calculated financial ratios and metrics derived from Smith & Wesson Brands' official financial filings.

Metric 2021 2022 2023 2024
Period end date 4/30/2021 4/30/2022 4/30/2023 4/30/2024
Growth Metrics		 - - - -
Revenue Growth		 99.99% -18.42% -44.54% 11.81%
EBITDA Growth		 327.03% -19.48% -71.89% 5.02%
EBIT Growth		 533.63% -20.93% -80.92% 5.96%
NOPAT Growth		 589.53% -20.80% -80.91% -2.99%
Net Income Growth		 511.64% -22.83% -81.04% 7.41%
EPS Growth		 513.64% -10.33% -80.39% 7.50%
Operating Cash Flow Growth		 232.86% -56.30% -87.86% 537.93%
Free Cash Flow Firm Growth		 -27.11% -62.83% -173.53% 118.42%
Invested Capital Growth		 -22.46% 56.35% 48.41% 6.00%
Revenue Q/Q Growth		 33.65% 27.14% 0.00% 0.00%
EBITDA Q/Q Growth		 38.25% 75.66% 0.00% 0.00%
EBIT Q/Q Growth		 43.77% 92.59% 0.00% 0.00%
NOPAT Q/Q Growth		 44.45% 97.20% 0.00% 0.00%
Net Income Q/Q Growth		 244.74% 84.63% 0.00% 0.00%
EPS Q/Q Growth		 242.11% 81.33% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 -0.17% -40.42% 289.93% 5.57%
Free Cash Flow Firm Q/Q Growth		 -51.37% 87.52% 0.00% 0.00%
Invested Capital Q/Q Growth		 -13.85% 9.47% 0.00% 0.00%
Profitability Metrics		 - - - -
Gross Margin		 42.39% 43.35% 32.25% 29.50%
EBITDA Margin		 33.37% 32.93% 16.69% 15.68%
Operating Margin		 30.18% 29.12% 10.10% 8.36%
EBIT Margin		 30.39% 29.45% 10.13% 9.60%
Profit (Net Income) Margin		 23.80% 22.51% 7.69% 7.39%
Tax Burden Percent		 79.27% 77.06% 76.47% 80.19%
Interest Burden Percent		 98.78% 99.16% 99.32% 96.01%
Effective Tax Rate		 23.40% 22.94% 23.54% 19.81%
Return on Invested Capital (ROIC)		 139.45% 98.65% 12.43% 9.80%
ROIC Less NNEP Spread (ROIC-NNEP)		 134.69% 98.17% 12.61% -5.09%
Return on Net Nonoperating Assets (RNNOA)		 -62.31% -36.60% -2.53% 0.32%
Return on Equity (ROE)		 77.14% 62.05% 9.90% 10.12%
Cash Return on Invested Capital (CROIC)		 164.75% 54.69% -26.55% 3.97%
Operating Return on Assets (OROA)		 54.75% 53.93% 9.35% 9.19%
Return on Assets (ROA)		 42.87% 41.21% 7.10% 7.08%
Return on Common Equity (ROCE)		 77.14% 62.05% 9.90% 10.12%
Return on Equity Simple (ROE_SIMPLE)		 94.62% 53.95% 9.59% 9.95%
Net Operating Profit after Tax (NOPAT)		 245 194 37 36
NOPAT Margin		 23.12% 22.44% 7.72% 6.70%
Net Nonoperating Expense Percent (NNEP)		 4.76% 0.48% -0.19% 14.89%
Cost of Revenue to Revenue		 57.61% 56.65% 67.75% 70.50%
SG&A Expenses to Revenue		 7.48% 8.39% 12.85% 12.22%
R&D to Revenue		 0.71% 0.84% 1.58% 1.36%
Operating Expenses to Revenue		 12.21% 14.22% 22.15% 21.15%
Earnings before Interest and Taxes (EBIT)		 322 255 49 51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 353 285 80 84
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 3.16 1.60 1.37 1.92
Price to Tangible Book Value (P/TBV)		 3.46 1.70 1.46 2.03
Price to Revenue (P/Rev)		 0.79 0.67 1.10 1.43
Price to Earnings (P/E)		 3.33 2.96 14.31 19.32
Dividend Yield		 0.95% 2.53% 3.48% 2.85%
Earnings Yield		 29.99% 33.77% 6.99% 5.18%
Enterprise Value to Invested Capital (EV/IC)		 4.74 1.90 1.40 1.97
Enterprise Value to Revenue (EV/Rev)		 0.69 0.53 1.04 1.39
Enterprise Value to EBITDA (EV/EBITDA)		 2.06 1.60 6.24 8.86
Enterprise Value to EBIT (EV/EBIT)		 2.26 1.79 10.28 14.47
Enterprise Value to NOPAT (EV/NOPAT)		 2.97 2.35 13.48 20.73
Enterprise Value to Operating Cash Flow (EV/OCF)		 2.31 3.30 29.83 6.97
Enterprise Value to Free Cash Flow (EV/FCFF)		 2.51 4.23 0.00 51.11
Leverage & Solvency		 - - - -
Debt to Equity		 0.00 0.00 0.06 0.10
Long-Term Debt to Equity		 0.00 0.00 0.06 0.10
Financial Leverage		 -0.46 -0.37 -0.20 -0.06
Leverage Ratio		 1.80 1.51 1.39 1.43
Compound Leverage Factor		 1.78 1.49 1.38 1.37
Debt to Total Capital		 0.00% 0.00% 6.06% 9.10%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 6.06% 9.10%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 93.95% 90.90%
Debt to EBITDA		 0.00 0.00 0.31 0.47
Net Debt to EBITDA		 0.00 0.00 -0.36 -0.25
Long-Term Debt to EBITDA		 0.00 0.00 0.31 0.47
Debt to NOPAT		 0.00 0.00 0.67 1.11
Net Debt to NOPAT		 0.00 0.00 -0.78 -0.58
Long-Term Debt to NOPAT		 0.00 0.00 0.67 1.11
Altman Z-Score		 8.96 7.94 5.01 5.48
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - -
Current Ratio		 2.13 3.68 3.35 2.98
Quick Ratio		 1.44 2.06 1.25 1.24
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 289 108 -79 15
Operating Cash Flow to CapEx		 1,437.32% 578.25% 18.71% 121.57%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - -
Asset Turnover		 1.80 1.83 0.92 0.96
Accounts Receivable Turnover		 16.51 13.28 8.13 9.38
Inventory Turnover		 6.70 4.55 2.07 2.24
Fixed Asset Turnover		 0.00 0.00 2.77 2.31
Accounts Payable Turnover		 13.74 11.21 9.72 9.61
Days Sales Outstanding (DSO)		 22.11 27.48 44.88 38.90
Days Inventory Outstanding (DIO)		 54.50 80.20 176.36 163.12
Days Payable Outstanding (DPO)		 26.56 32.57 37.57 37.99
Cash Conversion Cycle (CCC)		 50.05 75.11 183.67 164.03
Capital & Investment Metrics		 - - - -
Invested Capital		 153 240 356 377
Invested Capital Turnover		 6.03 4.40 1.61 1.46
Increase / (Decrease) in Invested Capital		 -44 86 116 21
Enterprise Value (EV)		 727 455 499 744
Market Capitalization		 840 576 528 765
Book Value per Share		 $5.00 $7.92 $8.38 $8.75
Tangible Book Value per Share		 $4.56 $7.42 $7.89 $8.27
Total Capital		 266 361 409 438
Total Debt		 0.00 0.00 25 40
Total Long-Term Debt		 0.00 0.00 25 40
Net Debt		 -113 -121 -29 -21
Capital Expenditures (CapEx)		 22 24 89 88
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 30 118 151 130
Debt-free Net Working Capital (DFNWC)		 143 239 205 191
Net Working Capital (NWC)		 143 239 205 191
Net Nonoperating Expense (NNE)		 -7.20 -0.56 0.14 -3.70
Net Nonoperating Obligations (NNO)		 -113 -121 -29 -21
Total Depreciation and Amortization (D&A)		 32 30 31 33
Debt-free, Cash-free Net Working Capital to Revenue		 2.79% 13.65% 31.54% 24.32%
Debt-free Net Working Capital to Revenue		 13.46% 27.62% 42.71% 35.68%
Net Working Capital to Revenue		 13.46% 27.62% 42.71% 35.68%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $4.62 $4.12 $0.80 $0.86
Adjusted Weighted Average Basic Shares Outstanding		 54.61M 47.23M 45.84M 45.81M
Adjusted Diluted Earnings per Share		 $4.55 $4.08 $0.80 $0.86
Adjusted Weighted Average Diluted Shares Outstanding		 55.35M 47.73M 46.17M 46.25M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 48.00M 45.76M 46.08M 45.56M
Normalized Net Operating Profit after Tax (NOPAT)		 245 194 37 36
Normalized NOPAT Margin		 23.12% 22.44% 7.72% 6.70%
Pre Tax Income Margin		 30.02% 29.21% 10.06% 9.22%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Payout Ratios		 - - - -
Dividend Payout Ratio		 3.26% 7.73% 49.72% 55.59%
Augmented Payout Ratio		 46.90% 54.00% 49.72% 81.38%

Quarterly Metrics And Ratios for Smith & Wesson Brands

This table displays calculated financial ratios and metrics derived from Smith & Wesson Brands' official financial filings.

Metric Q3 2022 Q4 2022 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q3 2025
Period end date 1/31/2022 4/30/2022 1/31/2023 7/31/2024 10/31/2024 1/31/2024 4/30/2024 1/31/2025
Growth Metrics		 - - - - - - - -
Revenue Growth		 -31.01% 62.23% -27.40% 0.00% 0.00% 6.55% 0.00% -15.71%
EBITDA Growth		 -47.13% 150.92% -68.61% 0.00% 0.00% 28.88% 0.00% -78.63%
EBIT Growth		 -50.24% 165.85% -63.00% 0.00% 0.00% -24.74% 0.00% -63.40%
NOPAT Growth		 -50.90% 172.58% -64.42% 0.00% 0.00% -20.37% 0.00% -66.87%
Net Income Growth		 -51.05% 144.16% -63.73% 0.00% 0.00% -28.86% 0.00% -78.90%
EPS Growth		 -41.96% 183.19% -63.08% 0.00% 0.00% -29.17% 0.00% -76.47%
Operating Cash Flow Growth		 -53.45% -78.54% 0.00% 0.00% 0.00% 0.00% 14.84% 0.00%
Free Cash Flow Firm Growth		 -102.17% -35.29% -1,077.71% 0.00% 0.00% 75.33% 0.00% -61.35%
Invested Capital Growth		 23.03% 56.35% 61.86% 0.00% 0.00% 11.11% 0.00% 13.33%
Revenue Q/Q Growth		 46.85% 170.60% 0.00% 0.00% 46.81% 6.02% 15.76% 0.00%
EBITDA Q/Q Growth		 127.88% 327.12% 0.00% 0.00% 145.63% 27.15% 120.14% 0.00%
EBIT Q/Q Growth		 203.92% 384.62% 0.00% 0.00% 472.97% 61.78% 182.81% 0.00%
NOPAT Q/Q Growth		 224.63% 396.42% 0.00% 0.00% 498.58% 65.93% 145.87% 0.00%
Net Income Q/Q Growth		 216.56% 394.38% 0.00% 0.00% 296.30% 90.66% 231.27% 0.00%
EPS Q/Q Growth		 209.52% 392.31% 0.00% 0.00% 280.00% 88.89% 235.29% 0.00%
Operating Cash Flow Q/Q Growth		 497.73% -81.82% 0.00% -181.13% 76.00% 1,468.33% 71.94% 0.00%
Free Cash Flow Firm Q/Q Growth		 91.56% 710.22% 0.00% 0.00% 0.00% 0.00% 100.00% 0.00%
Invested Capital Q/Q Growth		 -32.32% 9.47% 0.00% 0.00% 4.02% -8.17% -4.24% 0.00%
Profitability Metrics		 - - - - - - - -
Gross Margin		 39.61% 48.53% 32.43% 27.39% 26.64% 28.68% 35.50% 24.12%
EBITDA Margin		 26.85% 42.37% 11.61% 7.00% 11.71% 14.04% 25.22% 3.56%
Operating Margin		 22.35% 40.65% 10.96% -2.11% 5.38% 8.21% 15.95% 3.56%
EBIT Margin		 22.77% 40.78% 11.61% -2.11% 5.37% 8.20% 20.03% 3.56%
Profit (Net Income) Margin		 17.18% 31.39% 8.59% -2.38% 3.19% 5.73% 16.41% 1.44%
Tax Burden Percent		 76.59% 77.25% 76.58% 81.00% 74.51% 76.41% 83.51% 69.23%
Interest Burden Percent		 98.53% 99.65% 96.61% 139.19% 79.63% 91.53% 98.10% 58.23%
Effective Tax Rate		 23.41% 22.75% 23.42% 0.00% 25.49% 23.59% 16.49% 30.77%
Return on Invested Capital (ROIC)		 58.59% 138.03% 0.00% 0.00% 0.00% 0.00% 18.92% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 58.45% 138.05% 0.00% 0.00% 0.00% 0.00% -4.54% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -17.30% -51.47% 0.00% 0.00% 0.00% 0.00% 0.24% 0.00%
Return on Equity (ROE)		 41.29% 86.55% 0.00% 0.00% 0.00% 0.00% 19.16% 0.00%
Cash Return on Invested Capital (CROIC)		 28.88% 54.69% 0.00% 0.00% 0.00% 0.00% 3.86% 0.00%
Operating Return on Assets (OROA)		 35.37% 74.67% 0.00% 0.00% 0.00% 0.00% 19.18% 0.00%
Return on Assets (ROA)		 26.69% 57.48% 0.00% 0.00% 0.00% 0.00% 15.71% 0.00%
Return on Common Equity (ROCE)		 41.29% 86.55% 0.00% 0.00% 0.00% 0.00% 19.16% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 32.28% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 30 151 11 -1.30 5.20 8.62 21 2.86
NOPAT Margin		 17.12% 31.40% 8.39% -1.48% 4.01% 6.27% 13.32% 2.46%
Net Nonoperating Expense Percent (NNEP)		 0.14% -0.02% 0.40% 2.33% 1.77% -63.19% 23.46% 2.39%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -0.29% 1.11% 1.95% - 0.60%
Cost of Revenue to Revenue		 60.39% 51.47% 67.57% 72.61% 73.36% 71.32% 64.50% 75.88%
SG&A Expenses to Revenue		 9.81% 4.52% 12.07% 15.51% 12.17% 11.68% 12.49% 11.22%
R&D to Revenue		 0.97% 0.42% 1.65% 2.85% 1.71% 1.43% 1.11% 2.48%
Operating Expenses to Revenue		 17.26% 7.89% 21.47% 29.49% 21.26% 20.47% 19.56% 20.56%
Earnings before Interest and Taxes (EBIT)		 40 196 15 -1.87 6.97 11 32 4.13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 48 204 15 6.18 15 19 40 4.13
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 2.32 1.60 1.29 1.95 1.56 1.52 1.92 1.27
Price to Tangible Book Value (P/TBV)		 2.50 1.70 1.37 2.07 1.65 1.62 2.03 1.35
Price to Revenue (P/Rev)		 1.11 0.67 0.00 0.00 0.00 0.00 1.43 0.00
Price to Earnings (P/E)		 7.18 2.96 0.00 0.00 0.00 0.00 19.32 0.00
Dividend Yield		 1.85% 2.53% 3.62% 3.03% 3.91% 3.66% 2.85% 4.86%
Earnings Yield		 13.93% 33.77% 0.00% 0.00% 0.00% 0.00% 5.18% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.96 1.90 1.30 1.87 1.48 1.50 1.97 1.22
Enterprise Value to Revenue (EV/Rev)		 0.96 0.53 0.00 0.00 0.00 0.00 1.39 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 4.01 1.60 0.00 0.00 0.00 0.00 8.86 0.00
Enterprise Value to EBIT (EV/EBIT)		 4.91 1.79 0.00 0.00 0.00 0.00 14.47 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 6.60 2.35 0.00 0.00 0.00 0.00 20.73 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 2.81 3.30 107.74 0.00 0.00 5.86 6.97 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 11.32 4.23 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.00 0.00 0.07 0.18 0.27 0.17 0.10 0.30
Long-Term Debt to Equity		 0.00 0.00 0.07 0.18 0.27 0.17 0.10 0.30
Financial Leverage		 -0.30 -0.37 -0.18 0.09 0.16 0.00 -0.05 0.13
Leverage Ratio		 1.55 1.51 1.43 1.51 1.59 1.46 1.43 1.55
Compound Leverage Factor		 1.53 1.50 1.38 2.10 1.27 1.34 1.40 0.90
Debt to Total Capital		 0.00% 0.00% 6.21% 15.61% 21.15% 14.70% 9.10% 23.05%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 6.21% 15.61% 21.15% 14.70% 9.10% 23.05%
Preferred Equity to Total Capital		 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%
Common Equity to Total Capital		 100.00% 100.00% 93.79% 84.39% 78.85% 85.30% 90.90% 76.95%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.47 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 -0.25 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.47 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 1.11 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 -0.58 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 1.11 0.00
Altman Z-Score		 6.85 7.56 0.00 0.00 0.00 0.00 5.37 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 3.23 3.68 3.63 3.54 3.97 3.21 2.98 4.67
Quick Ratio		 1.68 2.06 1.21 1.03 1.19 1.25 1.24 1.32
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -11 65 -125 0.00 0.00 -31 0.00 -50
Operating Cash Flow to CapEx		 0.00% 288.90% 0.00% -663.54% -236.86% 135.78% 794.03% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 1.55 1.83 0.00 0.00 0.00 0.00 0.96 0.00
Accounts Receivable Turnover		 12.25 13.28 0.00 0.00 0.00 0.00 9.38 0.00
Inventory Turnover		 3.94 4.55 0.00 0.00 0.00 0.00 2.24 0.00
Fixed Asset Turnover		 4.86 0.00 0.00 0.00 0.00 0.00 2.31 0.00
Accounts Payable Turnover		 10.12 11.21 0.00 0.00 0.00 0.00 9.61 0.00
Days Sales Outstanding (DSO)		 29.79 27.48 0.00 0.00 0.00 0.00 38.90 0.00
Days Inventory Outstanding (DIO)		 92.58 80.20 0.00 0.00 0.00 0.00 163.12 0.00
Days Payable Outstanding (DPO)		 36.08 32.57 0.00 0.00 0.00 0.00 37.99 0.00
Cash Conversion Cycle (CCC)		 86.30 75.11 0.00 0.00 0.00 0.00 164.03 0.00
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 219 240 355 412 429 394 377 446
Invested Capital Turnover		 3.42 4.40 0.00 0.00 0.00 0.00 1.42 0.00
Increase / (Decrease) in Invested Capital		 41 86 136 0.00 0.00 39 0.00 52
Enterprise Value (EV)		 649 455 462 772 634 591 744 544
Market Capitalization		 756 576 482 737 574 574 765 462
Book Value per Share		 $6.76 $7.92 $8.16 $8.30 $8.23 $8.25 $8.75 $8.27
Tangible Book Value per Share		 $6.27 $7.42 $7.66 $7.82 $7.75 $7.77 $8.27 $7.79
Total Capital		 326 361 399 448 468 441 438 473
Total Debt		 0.00 0.00 25 70 99 65 40 109
Total Long-Term Debt		 0.00 0.00 25 70 99 65 40 109
Net Debt		 -107 -121 -20 34 60 17 -21 82
Capital Expenditures (CapEx)		 -24 8.84 0.00 4.64 3.12 75 5.49 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 100 118 180 169 190 143 130 208
Debt-free Net Working Capital (DFNWC)		 208 239 225 205 229 190 191 235
Net Working Capital (NWC)		 208 239 225 205 229 190 191 235
Net Nonoperating Expense (NNE)		 -0.12 0.03 -0.25 0.80 1.06 0.74 -4.92 1.19
Net Nonoperating Obligations (NNO)		 -107 -121 -20 34 60 17 -21 82
Total Depreciation and Amortization (D&A)		 7.24 7.66 0.00 8.05 8.21 8.03 8.27 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 14.77% 13.65% 0.00% 0.00% 0.00% 0.00% 24.32% 0.00%
Debt-free Net Working Capital to Revenue		 30.55% 27.62% 0.00% 0.00% 0.00% 0.00% 35.68% 0.00%
Net Working Capital to Revenue		 30.55% 27.62% 0.00% 0.00% 0.00% 0.00% 35.68% 0.00%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.65 $3.20 $0.24 ($0.05) $0.09 $0.17 $0.57 $0.04
Adjusted Weighted Average Basic Shares Outstanding		 46.76M 47.23M 45.90M 45.32M 44.52M 45.62M 45.81M 44.04M
Adjusted Diluted Earnings per Share		 $0.65 $3.20 $0.24 ($0.05) $0.09 $0.17 $0.57 $0.04
Adjusted Weighted Average Diluted Shares Outstanding		 47.18M 47.73M 46.17M 45.32M 44.94M 46.03M 46.25M 44.40M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $3.20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 45.51M 45.76M 45.90M 44.85M 44.00M 45.52M 45.56M 44.00M
Normalized Net Operating Profit after Tax (NOPAT)		 30 151 11 -1.30 5.20 8.62 21 2.86
Normalized NOPAT Margin		 17.12% 31.40% 8.39% -1.48% 4.01% 6.27% 13.32% 2.46%
Pre Tax Income Margin		 22.44% 40.64% 11.21% -2.94% 4.28% 7.50% 19.65% 2.07%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 13.31% 7.73% 0.00% 0.00% 0.00% 0.00% 55.59% 0.00%
Augmented Payout Ratio		 155.70% 54.00% 0.00% 0.00% 0.00% 0.00% 81.38% 0.00%

Financials Breakdown Chart

Key Financial Trends

Smith & Wesson Brands (NASDAQ: SWBI) has exhibited varied financial performance over the past several quarters, reflecting fluctuations in revenue, profitability, and balance sheet metrics. Here are the key observations from the last four years' quarterly financial statements:

  • Strong Revenue Growth: Operating revenue increased notably from $177.7 million in Q3 2022 to $159.1 million in Q4 2024, though Q3 2025 saw a dip to $115.9 million. Despite recent softness, the overall trend has been positive over years before the latest quarter.
  • Gross Profit Stability: Gross profit remained healthy, reaching up to $56.5 million in Q4 2024, illustrating good product margin management relative to operating revenue.
  • Cash & Equivalents Maintained: The company had strong cash and equivalents balances, ranging from $26.7 million (Q3 2025) to over $107 million (Q3 2022), which supports liquidity and operational flexibility.
  • Consistent Dividend Payments: Cash dividends per share increased from $0.08 in Q4 2022 to $0.13 in Q3 2025, indicating sustained shareholder returns.
  • Share Repurchases: The company has actively repurchased common equity during several quarters, including a significant $90 million repurchase in Q3 2022, likely supporting share price and EPS.
  • Fluctuating Net Income: Net income experienced volatility, with a peak of $150.9 million in Q4 2022, declining sharply to a net loss of $2.1 million in Q1 2024, then modest recovery to $1.7 million in Q3 2025.
  • Interest Expense Impact: Consistently negative interest and investment income of approximately $0.5 to $1.7 million per quarter has somewhat pressured earnings.
  • Operating Expenses Fluctuation: SG&A and marketing expenses remained elevated, fluctuating around $10 million to $20 million quarterly, impacting operating income variability.
  • Inventory Levels: Inventories have seen considerable changes, peaking near $198.9 million in Q3 2025, which could affect working capital and future sales outlook depending on turnover.
  • Recent Revenue and Income Decline: The Q3 2025 quarter showed a drop in revenue to $115.9 million and net income to $1.7 million compared to earlier quarters, signaling pressure on sales and profitability.
  • Increased Long-Term Debt: The company’s long-term debt rose significantly, from roughly $24.8 million in Q3 2023 to $109 million by Q3 2025, raising leverage and interest burden risks.
  • Declining Operating Income: Operating income fell sharply from $25.4 million in Q4 2024 to $4.1 million in Q3 2025, showing challenges in managing costs or demand.
  • Negative Free Cash Flow Quarterly: In some quarters, notably Q2 2024, net cash from operating activities was negative at -$7.4 million, indicating cash generation issues.
  • Reduced Earnings per Share: Diluted EPS tumbled from $3.20 in Q4 2022 to just $0.04 in Q3 2025, highlighting pressure on profitability per share for investors.

Summary: Smith & Wesson Brands has shown historically robust revenue and profitability with good cash flow and capital return through dividends and share buybacks. However, recent quarters have revealed notable weakening in sales and earnings with rising debt levels and shrinking operating income, increasing concerns about the near-term financial health. Retail investors should watch upcoming quarters closely for stabilization or recovery in revenue and margins, as well as the company's ability to manage its increasing debt load.

10/24/25 04:17 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Smith & Wesson Brands' Financials

When does Smith & Wesson Brands' fiscal year end?

According to the most recent income statement we have on file, Smith & Wesson Brands' financial year ends in April. Their financial year 2024 ended on April 30, 2024.

How has Smith & Wesson Brands' net income changed over the last 3 years?

Smith & Wesson Brands' net income appears to be on a downward trend, with a most recent value of $39.61 million in 2024, falling from $252.05 million in 2021. The previous period was $36.88 million in 2023. See Smith & Wesson Brands' forecast for analyst expectations on what’s next for the company.

What is Smith & Wesson Brands' operating income?
Smith & Wesson Brands' total operating income in 2024 was $44.78 million, based on the following breakdown:
  • Total Gross Profit: $158.09 million
  • Total Operating Expenses: $113.31 million
How has Smith & Wesson Brands' revenue changed over the last 3 years?

Over the last 3 years, Smith & Wesson Brands' total revenue changed from $1.06 billion in 2021 to $535.83 million in 2024, a change of -49.4%.

How much debt does Smith & Wesson Brands have?

Smith & Wesson Brands' total liabilities were at $179.84 million at the end of 2024, a 14.8% increase from 2023, and a 0.1% decrease since 2021.

How much cash does Smith & Wesson Brands have?

In the past 3 years, Smith & Wesson Brands' cash and equivalents has ranged from $53.56 million in 2023 to $120.73 million in 2022, and is currently $60.84 million as of their latest financial filing in 2024.

How has Smith & Wesson Brands' book value per share changed over the last 3 years?

Over the last 3 years, Smith & Wesson Brands' book value per share changed from 5.00 in 2021 to 8.75 in 2024, a change of 74.9%.


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This page (NASDAQ:SWBI) was last updated on 10/24/2025 by MarketBeat.com Staff
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