What is Smith & Wesson Brands' operating income?

Smith & Wesson Brands' total operating income in 2026 was $29.21 million, based on the following breakdown: Total Gross Profit: $141.10 million Total Operating Expenses: $111.89 million

Smith & Wesson Brands (SWBI) Financials

$16.67 +0.22 (+1.34%)

Closing price 06/23/2026 04:00 PM Eastern

Extended Trading

$16.70 +0.03 (+0.18%)

As of 06/23/2026 07:39 PM Eastern

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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	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	4/30/2016	4/30/2017	4/30/2018	4/30/2019	4/30/2020	4/30/2021	4/30/2022	4/30/2023	4/30/2024	4/30/2025	4/30/2026
Net Income / (Loss) Attributable to Common Shareholders	94	128	20	18	-61	252	194	37	41	13	18
Consolidated Net Income / (Loss)	94	128	20	18	-61	252	194	37	41	13	18
Net Income / (Loss) Continuing Operations	94	128	20	25	28	244	194	37	41	13	18
Total Pre-Tax Income	145	191	18	34	39	318	252	48	52	19	25
Total Operating Income	159	200	27	44	50	320	252	48	47	24	29
Total Gross Profit	294	375	196	146	166	449	375	155	158	127	141
Total Revenue	723	903	607	481	530	1,059	864	479	536	475	524
Operating Revenue	723	903	607	481	530	1,059	864	479	536	475	524
Total Cost of Revenue	429	528	411	335	364	610	490	325	378	347	383
Operating Cost of Revenue	429	528	411	335	364	610	490	325	378	347	383
Total Operating Expenses	135	175	169	103	115	129	123	106	111	103	112
Selling, General & Admin Expense	83	116	102	67	66	79	72	62	63	55	60
Marketing Expense	42	49	56	28	42	43	43	37	41	41	42
Research & Development Expense	10	10	11	8.01	7.36	7.48	7.26	7.55	7.26	9.57	10
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	-0.07	-0.01	-2.52	-0.01
Total Other Income / (Expense), net	-14	-8.63	-9.43	-9.31	-11	-1.67	0.73	-0.18	4.62	-4.64	-4.14
Interest & Investment Income	-14	-8.58	-11	-9.79	-12	-3.92	-2.14	-0.33	-2.06	-4.62	-4.81
Other Income / (Expense), net	-0.02	-0.05	1.74	0.48	0.50	2.25	2.87	0.15	6.67	-0.02	0.67
Income Tax Expense	51	63	-2.51	9.28	12	74	58	11	10	5.82	6.59
Basic Earnings per Share	$1.72	$2.29	$0.37	$0.34	($1.11)	$4.62	$4.12	$0.80	$0.90	$0.30	$0.42
Weighted Average Basic Shares Outstanding	54.77M	55.93M	54.06M	54.48M	54.98M	54.61M	47.23M	45.84M	45.81M	44.48M	44.42M
Diluted Earnings per Share	$1.68	$2.25	$0.37	$0.33	($1.10)	$4.55	$4.08	$0.80	$0.89	$0.30	$0.41
Weighted Average Diluted Shares Outstanding	55.97M	56.89M	54.83M	55.22M	55.67M	55.35M	47.73M	46.17M	46.25M	44.93M	44.93M
Weighted Average Basic & Diluted Shares Outstanding	54.60M	55.80M	54.40M	54.10M	55.52M	48.00M	45.76M	46.08M	45.56M	44.31M	44.73M
Cash Dividends to Common per Share	-	-	-	-	-	-	$0.32	$0.40	$0.48	$0.52	$0.52

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 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q2 2026	Q3 2026
Period end date	1/31/2023	7/31/2024	10/31/2023	1/31/2024	4/30/2024	7/31/2025	10/31/2024	1/31/2025	4/30/2025	10/31/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	11	-1.86	2.50	7.88	26	-3.41	4.55	2.10	10	1.92	3.75
Consolidated Net Income / (Loss)	11	-1.86	2.50	7.88	26	-3.41	4.55	2.10	10	1.92	3.75
Net Income / (Loss) Continuing Operations	11	-1.86	2.50	7.88	26	-3.41	4.55	2.10	10	1.92	3.75
Total Pre-Tax Income	14	-2.26	3.26	10	31	-4.10	6.11	3.02	14	3.01	5.37
Total Operating Income	14	-1.53	3.77	11	25	-2.96	7.54	4.75	15	4.12	6.71
Total Gross Profit	42	24	32	39	57	22	35	28	43	30	36
Total Revenue	129	88	125	137	159	85	130	116	144	125	136
Operating Revenue	129	88	125	137	159	85	130	116	144	125	136
Total Cost of Revenue	87	64	93	98	103	63	95	88	101	94	100
Operating Cost of Revenue	87	64	93	98	103	63	95	88	101	94	100
Total Operating Expenses	28	26	28	28	31	25	27	23	28	26	29
Selling, General & Admin Expense	16	13	15	16	20	13	15	12	14	13	15
Marketing Expense	10.00	9.89	11	10	9.46	8.75	9.61	10	13	10	11
Research & Development Expense	2.13	2.52	1.72	1.97	1.77	3.01	2.22	2.87	1.47	2.43	2.41
Other Operating Expenses / (Income)	-	-0.06	-	-	-	-0.04	-0.08	-2.38	-0.01	0.00	-0.19
Total Other Income / (Expense), net	0.33	-0.74	-0.51	-0.97	5.89	-1.14	-1.42	-1.72	-0.35	-1.11	-1.34
Interest & Investment Income	-0.51	-0.73	-0.65	-0.96	-0.61	-1.21	-1.42	-1.72	-0.28	-1.39	-1.53
Other Income / (Expense), net	0.84	-0.01	0.14	-0.01	6.50	0.06	-0.01	0.00	-0.07	0.28	0.19
Income Tax Expense	3.39	-0.41	0.77	2.43	5.16	-0.69	1.57	0.92	4.02	1.09	1.62
Basic Earnings per Share	$0.24	($0.04)	$0.05	$0.17	$0.57	($0.08)	$0.10	$0.05	$0.23	$0.04	$0.08
Weighted Average Basic Shares Outstanding	45.90M	45.32M	45.98M	45.62M	45.81M	44.26M	44.52M	44.04M	44.48M	44.40M	44.49M
Diluted Earnings per Share	$0.24	($0.04)	$0.05	$0.17	$0.57	($0.08)	$0.10	$0.05	$0.23	$0.04	$0.08
Weighted Average Diluted Shares Outstanding	46.17M	45.32M	46.36M	46.03M	46.25M	44.26M	44.94M	44.40M	44.93M	44.74M	44.98M
Weighted Average Basic & Diluted Shares Outstanding	45.90M	44.85M	44.00M	45.52M	45.56M	44.34M	-	44.00M	44.31M	44.49M	44.49M
Cash Dividends to Common per Share	-	$0.13	-	$0.12	-	$0.13	$0.13	$0.13	-	$0.13	$0.13

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	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	4/30/2016	4/30/2017	4/30/2018	4/30/2019	4/30/2020	4/30/2021	4/30/2022	4/30/2023	4/30/2024	4/30/2025	4/30/2026
Net Change in Cash & Equivalents	149	-130	-13	-8.20	84	-12	7.71	-67	7.28	-36	2.96
Net Cash From Operating Activities	169	124	62	57	95	315	138	17	107	-7.22	114
Net Cash From Continuing Operating Activities	169	124	62	51	81	317	138	17	107	-7.22	114
Net Income / (Loss) Continuing Operations	94	128	20	25	28	244	194	37	41	13	18
Consolidated Net Income / (Loss)	94	128	20	25	-	244	194	37	41	13	18
Depreciation Expense	41	50	52	29	32	32	30	31	33	32	31
Non-Cash Adjustments To Reconcile Net Income	6.96	8.82	11	6.83	1.07	3.02	5.58	4.85	0.21	2.86	5.94
Changes in Operating Assets and Liabilities, net	26	-63	-22	-9.70	20	39	-92	-56	33	-55	58
Net Cash From Investing Activities	-32	-244	-42	-35	-14	-23	-24	-90	-81	-19	-28
Net Cash From Continuing Investing Activities	-32	-244	-42	-30	-12	-22	-24	-90	-81	-19	-28
Purchase of Property, Plant & Equipment	-31	-35	-18	-31	-12	-22	-24	-90	-91	-22	-24
Acquisitions	-1.54	-212	-24	-0.21	-0.43	-0.63	-0.28	-0.33	-0.19	-0.19	-0.09
Purchase of Investments	-	-	-	-	-	-	-	-	0.00	0.00	-4.63
Sale of Property, Plant & Equipment	0.06	2.78	0.01	1.34	0.00	0.11	0.14	0.12	2.96	2.62	0.24
Divestitures	-	-	-	-	-	-	0.00	0.00	6.50	0.00	0.00
Net Cash From Financing Activities	12	-9.56	-32	-30	3.38	-304	-106	5.88	-18	-9.21	-83
Net Cash From Continuing Financing Activities	12	-9.56	-32	-30	3.38	-304	-106	5.88	-18	-9.21	-83
Repayment of Debt	-106	-57	-182	-82	-225	-185	0.00	0.00	-35	-36	-85
Repurchase of Common Equity	-	-50	-	0.00	0.00	-110	-90	0.00	-10	-25	0.00
Payment of Dividends	-	-	-	0.00	0.00	-8.22	-15	-18	-22	-23	-23
Issuance of Debt	105	100	150	50	228	25	0.00	25	50	75	25
Issuance of Common Equity	11	2.44	2.21	2.22	2.13	3.15	1.72	1.53	1.48	1.60	1.58
Other Financing Activities, net	2.57	-4.57	-2.28	-0.65	-1.50	-28	-2.67	-2.32	-2.22	-1.31	-1.13
Cash Interest Paid	13	7.65	11	9.47	11	3.31	2.22	2.15	4.75	5.19	5.38
Cash Income Taxes Paid	51	85	1.39	11	6.94	81	59	18	0.00	0.00	0.00

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q3 2026	Q4 2026
Period end date	4/30/2023	7/31/2024	10/31/2024	1/31/2024	4/30/2024	7/31/2025	10/31/2024	1/31/2025	4/30/2025	1/31/2026	4/30/2026
Net Change in Cash & Equivalents	8.96	-25	3.58	16	13	-7.27	-14	-12	-1.47	-4.01	9.77
Net Cash From Operating Activities	38	-31	-7.40	101	44	-8.11	-30	-9.84	41	20	75
Net Cash From Continuing Operating Activities	38	-31	-7.40	101	44	-8.11	-30	-9.84	41	20	75
Net Income / (Loss) Continuing Operations	13	-1.86	4.13	11	26	-3.41	6.10	2.10	8.63	3.75	16
Consolidated Net Income / (Loss)	13	-1.86	4.13	11	26	-3.41	6.10	2.10	8.63	3.75	16
Depreciation Expense	9.64	8.05	8.21	8.03	8.27	8.44	7.83	7.60	7.99	7.24	7.61
Non-Cash Adjustments To Reconcile Net Income	1.19	1.31	1.52	-2.66	-5.26	1.23	1.17	-0.86	1.32	1.65	1.69
Changes in Operating Assets and Liabilities, net	14	-38	-21	84	14	-14	-45	-19	23	7.82	49
Net Cash From Investing Activities	-25	-4.67	-3.21	-75	0.99	-7.46	-0.42	-3.92	-7.38	-3.62	-4.77
Net Cash From Continuing Investing Activities	-25	-4.67	-3.21	-75	0.99	-7.46	-0.42	-3.92	-7.38	-3.62	-4.77
Purchase of Property, Plant & Equipment	-25	-4.70	-3.30	-77	-5.57	-4.29	-3.71	-6.31	-7.29	-3.63	-4.83
Acquisitions	-0.08	-0.02	-0.09	-0.05	-0.02	-0.05	-0.06	-0.04	-0.04	-0.01	-0.03
Sale of Property, Plant & Equipment	0.03	0.06	0.18	2.64	0.08	0.05	0.19	2.43	-0.05	0.09	0.10
Net Cash From Financing Activities	-3.99	10	14	-11	-31	8.31	16	1.37	-35	-21	-60
Net Cash From Continuing Financing Activities	-3.99	10	14	-11	-31	8.31	16	1.37	-35	-21	-60
Repayment of Debt	0.23	0.00	-0.94	-9.06	-25	-5.00	4.06	-	-35	-20	-55
Payment of Dividends	-4.59	-5.89	-5.77	-4.91	-5.46	-5.86	-5.80	-5.72	-5.72	-5.79	-5.79
Issuance of Common Equity	0.78	-	0.75	-0.03	0.76	-	-	-	0.85	-	0.83
Other Financing Activities, net	-0.41	-1.10	-0.09	-0.56	-0.34	-0.84	-0.35	-0.06	-0.05	-0.06	-0.10
Cash Interest Paid	0.41	1.31	1.04	0.96	1.43	1.29	1.07	1.87	0.97	1.61	0.91
Cash Income Taxes Paid	2.43	0.36	6.42	3.90	1.98	0.19	6.59	0.31	-7.10	1.45	-3.74

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	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	4/30/2016	4/30/2017	4/30/2018	4/30/2019	4/30/2020	4/30/2021	4/30/2022	4/30/2023	4/30/2024	4/30/2025	4/30/2026
Total Assets	620	788	745	767	730	446	497	541	577	560	513
Total Current Assets	333	318	270	299	393	268	328	292	287	277	241
Cash & Equivalents	191	62	49	41	125	113	121	54	61	25	28
Short-Term Investments	-	-	-	-	-	-	-	-	-	0.00	5.16
Accounts Receivable	58	108	57	85	61	67	63	55	59	56	40
Inventories, net	78	132	153	164	104	78	137	177	161	190	156
Prepaid Expenses	4.31	6.12	6.89	6.53	7.56	8.41	5.57	4.92	4.97	6.26	7.17
Current Deferred & Refundable Income Taxes	2.06	11	4.58	2.46	1.60	0.91	1.95	1.18	1.95	0.07	4.62
Plant, Property, & Equipment, net	135	150	159	0.00	0.00	0.00	136	210	253	243	239
Total Noncurrent Assets	151	320	316	468	336	178	34	39	37	40	33
Goodwill	76	169	191	182	19	19	19	19	19	19	19
Intangible Assets	63	141	113	92	4.38	4.42	3.61	3.59	2.60	2.41	1.96
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	0.00	1.22	8.09	7.23	10	4.35
Other Noncurrent Operating Assets	12	9.58	12	194	164	155	10	8.35	8.61	8.01	7.39
Total Liabilities & Shareholders' Equity	620	788	745	767	730	446	497	541	577	560	513
Total Liabilities	312	395	323	322	342	180	137	157	178	187	136
Total Current Liabilities	123	151	101	111	130	126	89	87	94	67	75
Accounts Payable	46	53	34	36	31	57	30	37	42	27	35
Accrued Expenses	35	57	6.82	5.60	3.30	2.20	1.84	1.67	1.81	1.38	1.30
Current Deferred Revenue	-	-	42	39	58	33	23	20	24	25	19
Current Deferred & Payable Income Tax Liabilities	5.96	0.73	0.51	0.18	5.50	1.16	2.67	1.83	0.00	0.00	0.00
Current Employee Benefit Liabilities	30	34	12	24	15	32	31	27	26	14	20
Total Noncurrent Liabilities	189	244	222	211	212	54	48	69	83	121	61
Long-Term Debt	167	211	180	149	159	0.00	0.00	25	40	79	19
Other Noncurrent Operating Liabilities	10	7.35	6.89	52	50	53	48	45	43	41	42
Commitments & Contingencies	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	308	393	422	444	387	266	361	385	400	372	377
Total Preferred & Common Equity	308	393	422	444	387	266	361	385	400	372	377
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	308	393	422	444	387	266	361	385	400	372	377
Common Stock	240	246	254	263	268	274	278	284	290	298	2.82
Retained Earnings	241	369	389	403	342	325	505	523	542	533	374
Treasury Stock	-172	-222	-222	-222	-222	-332	-422	-422	-433	-458	0.00
Accumulated Other Comprehensive Income / (Loss)	-0.75	0.44	1.69	0.62	0.07	0.07	0.07	0.07	0.07	0.00	0.00

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	Q1 2025	Q3 2025	Q2 2026	Q3 2026
Period end date	1/31/2022	1/31/2023	7/31/2024	10/31/2024	1/31/2024	7/31/2025	1/31/2025	10/31/2025	1/31/2026
Total Assets	469	529	571	587	571	555	579	549	538
Total Current Assets	301	310	285	306	276	276	299	269	262
Cash & Equivalents	107	45	36	39	47	18	27	22	18
Short-Term Investments	-	-	-	-	-	3.22	-	4.89	5.04
Accounts Receivable	49	58	48	53	61	41	57	46	51
Inventories, net	134	193	190	196	154	203	199	183	175
Prepaid Expenses	7.52	5.95	9.04	10	9.02	9.04	7.99	9.66	7.70
Current Deferred & Refundable Income Taxes	2.23	7.66	3.18	8.12	5.61	0.88	7.63	2.57	4.27
Plant, Property, & Equipment, net	135	186	249	244	257	239	243	242	239
Total Noncurrent Assets	34	33	37	37	38	40	37	38	38
Goodwill	19	19	19	19	19	19	19	19	19
Intangible Assets	4.26	3.59	2.53	2.52	2.67	2.37	2.47	2.28	2.20
Noncurrent Deferred & Refundable Income Taxes	-	1.22	7.25	7.25	8.09	10	7.31	9.58	9.58
Other Noncurrent Operating Assets	11	9.28	8.39	8.13	7.78	8.06	7.93	7.09	7.09
Total Liabilities & Shareholders' Equity	469	529	571	587	571	555	579	549	538
Total Liabilities	143	155	193	218	194	190	215	185	175
Total Current Liabilities	93	85	80	77	86	53	64	54	58
Accounts Payable	36	38	29	32	36	21	25	23	25
Accrued Expenses	2.04	1.68	1.74	1.49	2.11	1.25	1.44	1.24	1.24
Current Deferred Revenue	27	19	28	30	24	18	27	19	19
Current Employee Benefit Liabilities	28	26	21	14	23	12	11	11	13
Total Noncurrent Liabilities	50	69	113	141	108	137	151	131	116
Long-Term Debt	-	25	70	99	65	94	109	89	74
Other Noncurrent Operating Liabilities	49	45	43	42	43	43	42	43	42
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	326	374	378	369	376	364	364	363	363
Total Preferred & Common Equity	326	374	378	369	376	364	364	363	363
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	326	374	378	369	376	364	364	363	363
Common Stock	276	282	291	293	288	299	295	302	0.04
Retained Earnings	472	515	533	531	520	523	527	519	363
Treasury Stock	-422	-422	-446	-455	-432	-458	-458	-458	0.00

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

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	4/30/2016	4/30/2017	4/30/2018	4/30/2019	4/30/2020	4/30/2021	4/30/2022	4/30/2023	4/30/2024	4/30/2025	4/30/2026
DEI Shares Outstanding	55,109,084.00	56,356,651.00	54,129,960.00	54,557,948.00	55,068,297.00	-	-	-	-	44,002,703.00	44,493,745.00
DEI Adjusted Shares Outstanding	68,296,396.00	69,842,499.00	67,082,973.00	67,613,376.00	68,245,849.00	-	-	-	-	44,002,703.00	44,493,745.00
DEI Earnings Per Adjusted Shares Outstanding	1.38	1.83	0.30	0.27	-0.90	-	-	-	-	0.31	0.42
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	30.99%	24.94%	-32.81%	-20.68%	10.03%	99.99%	-18.42%	-44.54%	11.81%	-11.42%	10.36%
EBITDA Growth	65.77%	25.14%	-67.67%	-9.67%	13.32%	327.03%	-19.48%	-71.89%	5.02%	-35.47%	9.83%
EBIT Growth	76.90%	26.02%	-85.60%	52.84%	15.47%	533.63%	-20.93%	-80.92%	5.96%	-55.62%	25.19%
NOPAT Growth	81.11%	30.07%	-76.87%	2.60%	12.00%	589.53%	-20.80%	-80.91%	-2.99%	-55.77%	29.25%
Net Income Growth	89.38%	36.08%	-84.26%	-8.54%	-432.59%	511.64%	-22.83%	-81.04%	7.41%	-67.54%	37.66%
EPS Growth	86.67%	33.93%	-83.56%	-8.54%	-432.59%	513.64%	-10.33%	-80.39%	7.50%	-66.29%	36.67%
Operating Cash Flow Growth	46.82%	-26.69%	-50.12%	-7.37%	65.92%	232.86%	-56.30%	-87.86%	537.93%	-106.77%	1,680.99%
Free Cash Flow Firm Growth	299.45%	-192.03%	97.96%	2,230.45%	627.19%	-27.11%	-62.83%	-173.53%	118.42%	-310.69%	378.56%
Invested Capital Growth	-10.42%	89.55%	6.10%	-3.93%	-64.63%	-22.46%	56.35%	48.41%	6.00%	12.50%	-15.01%
Revenue Q/Q Growth	5.88%	0.90%	-8.61%	-24.15%	2.12%	33.65%	27.14%	0.00%	0.00%	-7.11%	0.00%
EBITDA Q/Q Growth	11.11%	-3.57%	-24.77%	-21.04%	-24.72%	38.25%	75.66%	0.00%	0.00%	-29.10%	0.00%
EBIT Q/Q Growth	13.84%	-5.62%	-48.31%	11.16%	-47.20%	43.77%	92.59%	0.00%	0.00%	-48.62%	0.00%
NOPAT Q/Q Growth	14.30%	-5.38%	-36.09%	49.08%	-52.34%	44.45%	97.20%	0.00%	0.00%	-47.41%	0.00%
Net Income Q/Q Growth	17.16%	-5.85%	-49.88%	13.30%	-193.21%	244.74%	84.63%	0.00%	0.00%	-61.02%	0.00%
EPS Q/Q Growth	16.67%	-6.25%	-50.00%	13.30%	-193.21%	242.11%	81.33%	0.00%	0.00%	-59.46%	0.00%
Operating Cash Flow Q/Q Growth	6.28%	-39.52%	545.61%	-34.29%	722.29%	-0.17%	-40.42%	289.93%	5.57%	-67.39%	41.96%
Free Cash Flow Firm Q/Q Growth	-3.89%	-143.32%	92.89%	462.48%	325.08%	-51.37%	87.52%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-13.23%	4.23%	-4.70%	-10.15%	-67.22%	-13.85%	9.47%	0.00%	0.00%	-4.50%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.64%	41.55%	32.26%	30.39%	31.28%	42.39%	43.35%	32.25%	29.50%	26.79%	26.94%
EBITDA Margin	27.65%	27.69%	13.32%	15.17%	15.63%	33.37%	32.93%	16.69%	15.68%	11.74%	11.68%
Operating Margin	21.95%	22.14%	4.46%	9.04%	9.50%	30.18%	29.12%	10.10%	8.36%	5.03%	5.58%
EBIT Margin	21.94%	22.13%	4.74%	9.14%	9.59%	30.39%	29.45%	10.13%	9.60%	5.03%	5.70%
Profit (Net Income) Margin	13.00%	14.16%	3.32%	3.82%	-11.56%	23.80%	22.51%	7.69%	7.39%	2.83%	3.53%
Tax Burden Percent	64.76%	66.83%	114.25%	53.82%	-156.30%	79.27%	77.06%	76.47%	80.19%	69.76%	73.72%
Interest Burden Percent	91.47%	95.71%	61.20%	77.75%	77.12%	98.78%	99.16%	99.32%	96.01%	80.63%	83.90%
Effective Tax Rate	35.24%	33.17%	-14.25%	27.14%	29.41%	23.40%	22.94%	23.54%	19.81%	30.24%	26.28%
Return on Invested Capital (ROIC)	33.55%	31.89%	5.47%	5.56%	9.38%	139.45%	98.65%	12.43%	9.80%	4.14%	5.46%
ROIC Less NNEP Spread (ROIC-NNEP)	17.64%	23.47%	-1.37%	-4.13%	268.71%	134.69%	98.17%	12.61%	-5.09%	-15.53%	-9.94%
Return on Net Nonoperating Assets (RNNOA)	3.87%	4.59%	-0.53%	-1.31%	-24.11%	-62.31%	-36.60%	-2.53%	0.32%	-0.66%	-0.53%
Return on Equity (ROE)	37.42%	36.48%	4.94%	4.25%	-14.73%	77.14%	62.05%	9.90%	10.12%	3.48%	4.93%
Cash Return on Invested Capital (CROIC)	44.54%	-29.96%	-0.45%	9.56%	104.86%	164.75%	54.69%	-26.55%	3.97%	-7.63%	21.69%
Operating Return on Assets (OROA)	28.57%	28.40%	3.76%	5.82%	6.79%	54.75%	53.93%	9.35%	9.19%	4.20%	5.57%
Return on Assets (ROA)	16.92%	18.17%	2.63%	2.44%	-8.18%	42.87%	41.21%	7.10%	7.08%	2.36%	3.45%
Return on Common Equity (ROCE)	37.42%	36.48%	4.94%	4.25%	-14.73%	77.14%	62.05%	9.90%	10.12%	3.48%	4.93%
Return on Equity Simple (ROE_SIMPLE)	30.52%	32.52%	4.77%	4.14%	-15.82%	94.62%	53.95%	9.59%	9.95%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	103	134	31	32	36	245	194	37	36	17	22
NOPAT Margin	14.21%	14.79%	5.09%	6.59%	6.70%	23.12%	22.44%	7.72%	6.70%	3.51%	4.11%
Net Nonoperating Expense Percent (NNEP)	15.91%	8.42%	6.84%	9.68%	-259.33%	4.76%	0.48%	-0.19%	14.89%	19.67%	15.40%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	3.69%	5.44%
Cost of Revenue to Revenue	59.36%	58.45%	67.74%	69.61%	68.72%	57.61%	56.65%	67.75%	70.50%	73.21%	73.06%
SG&A Expenses to Revenue	11.47%	12.82%	16.73%	13.93%	12.47%	7.48%	8.39%	12.85%	12.22%	11.57%	11.45%
R&D to Revenue	1.38%	1.13%	1.87%	1.66%	1.39%	0.71%	0.84%	1.58%	1.36%	2.02%	1.97%
Operating Expenses to Revenue	18.70%	19.41%	27.80%	21.35%	21.79%	12.21%	14.22%	22.15%	21.15%	21.76%	21.36%
Earnings before Interest and Taxes (EBIT)	159	200	29	44	51	322	255	49	51	24	30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	200	250	81	73	83	353	285	80	84	56	61
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.51	2.86	1.27	1.09	1.21	3.16	1.60	1.37	1.92	1.07	1.84
Price to Tangible Book Value (P/TBV)	6.42	13.55	4.53	2.84	1.29	3.46	1.70	1.46	2.03	1.14	1.94
Price to Revenue (P/Rev)	1.50	1.24	0.88	1.00	0.89	0.79	0.67	1.10	1.43	0.84	1.32
Price to Earnings (P/E)	11.51	8.78	26.60	26.25	0.00	3.33	2.96	14.31	19.32	29.70	37.41
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.95%	2.53%	3.48%	2.85%	5.74%	3.35%
Earnings Yield	8.68%	11.39%	3.76%	3.81%	0.00%	29.99%	33.77%	6.99%	5.18%	3.37%	2.67%
Enterprise Value to Invested Capital (EV/IC)	3.67	2.33	1.19	1.07	2.54	4.74	1.90	1.40	1.97	1.06	1.87
Enterprise Value to Revenue (EV/Rev)	1.47	1.42	1.15	1.24	0.95	0.69	0.53	1.04	1.39	0.95	1.29
Enterprise Value to EBITDA (EV/EBITDA)	5.32	5.11	8.60	8.19	6.08	2.06	1.60	6.24	8.86	8.12	11.07
Enterprise Value to EBIT (EV/EBIT)	6.70	6.39	24.16	13.59	9.90	2.26	1.79	10.28	14.47	18.96	22.66
Enterprise Value to NOPAT (EV/NOPAT)	10.35	9.56	22.50	18.86	14.16	2.97	2.35	13.48	20.73	27.17	31.45
Enterprise Value to Operating Cash Flow (EV/OCF)	6.31	10.34	11.28	10.47	5.31	2.31	3.30	29.83	6.97	0.00	5.93
Enterprise Value to Free Cash Flow (EV/FCFF)	7.80	0.00	0.00	10.96	1.27	2.51	4.23	0.00	51.11	0.00	7.92
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.56	0.55	0.49	0.35	0.41	0.00	0.00	0.06	0.10	0.21	0.05
Long-Term Debt to Equity	0.54	0.54	0.48	0.34	0.41	0.00	0.00	0.06	0.10	0.21	0.05
Financial Leverage	0.22	0.20	0.39	0.32	-0.09	-0.46	-0.37	-0.20	-0.06	0.04	0.05
Leverage Ratio	2.21	2.01	1.88	1.74	1.80	1.80	1.51	1.39	1.43	1.47	1.43
Compound Leverage Factor	2.02	1.92	1.15	1.36	1.39	1.78	1.49	1.38	1.37	1.19	1.20
Debt to Total Capital	35.96%	35.56%	33.09%	25.95%	29.14%	0.00%	0.00%	6.06%	9.10%	17.52%	4.83%
Short-Term Debt to Total Capital	1.31%	1.03%	1.00%	1.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	34.65%	34.53%	32.09%	24.90%	29.14%	0.00%	0.00%	6.06%	9.10%	17.52%	4.83%
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	64.04%	64.44%	66.91%	74.05%	70.86%	100.00%	100.00%	93.95%	90.90%	82.48%	95.17%
Debt to EBITDA	0.86	0.87	2.58	2.13	1.92	0.00	0.00	0.31	0.47	1.42	0.31
Net Debt to EBITDA	-0.09	0.62	1.98	1.57	0.41	0.00	0.00	-0.36	-0.25	0.97	-0.23
Long-Term Debt to EBITDA	0.83	0.84	2.50	2.05	1.92	0.00	0.00	0.31	0.47	1.42	0.31
Debt to NOPAT	1.68	1.62	6.75	4.91	4.48	0.00	0.00	0.67	1.11	4.75	0.89
Net Debt to NOPAT	-0.18	1.16	5.17	3.62	0.96	0.00	0.00	-0.78	-0.58	3.23	-0.66
Long-Term Debt to NOPAT	1.62	1.58	6.55	4.71	4.48	0.00	0.00	0.67	1.11	4.75	0.89
Altman Z-Score	5.05	4.60	2.94	2.75	2.87	8.96	7.94	5.01	5.48	4.05	5.67
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	2.72	2.11	2.69	2.68	3.03	2.13	3.68	3.35	2.98	4.16	3.20
Quick Ratio	2.03	1.12	1.05	1.13	1.43	1.44	2.06	1.25	1.24	1.22	0.97
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	136	-126	-2.56	55	397	289	108	-79	15	-31	86
Operating Cash Flow to CapEx	551.90%	384.97%	333.49%	193.17%	761.48%	1,437.32%	578.25%	18.71%	121.57%	-38.04%	485.67%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	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	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	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.30	1.28	0.79	0.64	0.71	1.80	1.83	0.92	0.96	0.83	0.98
Accounts Receivable Turnover	12.79	10.87	7.35	6.80	7.27	16.51	13.28	8.13	9.38	8.26	10.93
Inventory Turnover	5.55	5.04	2.88	2.11	2.72	6.70	4.55	2.07	2.24	1.98	2.21
Fixed Asset Turnover	5.37	6.34	3.93	0.00	0.00	0.00	0.00	2.77	2.31	1.92	2.18
Accounts Payable Turnover	11.02	10.67	9.44	9.68	10.85	13.74	11.21	9.72	9.61	10.11	12.46
Days Sales Outstanding (DSO)	28.55	33.59	49.66	53.68	50.24	22.11	27.48	44.88	38.90	44.19	33.40
Days Inventory Outstanding (DIO)	65.79	72.41	126.54	172.73	134.15	54.50	80.20	176.36	163.12	184.00	165.02
Days Payable Outstanding (DPO)	33.12	34.21	38.65	37.69	33.63	26.56	32.57	37.57	37.99	36.09	29.30
Cash Conversion Cycle (CCC)	61.21	71.79	137.54	188.72	150.76	50.05	75.11	183.67	164.03	192.10	169.12
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	289	549	582	559	198	153	240	356	377	426	362
Invested Capital Turnover	2.36	2.16	1.07	0.84	1.40	6.03	4.40	1.61	1.46	1.18	1.33
Increase / (Decrease) in Invested Capital	-34	259	33	-23	-361	-44	86	116	21	47	-64
Enterprise Value (EV)	1,063	1,278	695	598	503	727	455	499	744	453	677
Market Capitalization	1,082	1,123	535	483	469	840	576	528	765	399	691
Book Value per Share	$5.59	$6.98	$7.80	$8.15	$7.03	$5.00	$7.92	$8.38	$8.75	$8.46	$8.46
Tangible Book Value per Share	$3.06	$1.47	$2.18	$3.12	$6.60	$4.56	$7.42	$7.89	$8.27	$7.98	$7.99
Total Capital	481	610	631	600	546	266	361	409	438	452	396
Total Debt	173	217	209	156	159	0.00	0.00	25	40	79	19
Total Long-Term Debt	167	211	202	149	159	0.00	0.00	25	40	79	19
Net Debt	-18	155	160	115	34	-113	-121	-29	-21	54	-14
Capital Expenditures (CapEx)	31	32	18	30	12	22	24	89	88	19	24
Debt-free, Cash-free Net Working Capital (DFCFNWC)	26	112	127	153	138	30	118	151	130	185	133
Debt-free Net Working Capital (DFNWC)	217	173	176	194	263	143	239	205	191	211	166
Net Working Capital (NWC)	211	167	170	187	263	143	239	205	191	211	166
Net Nonoperating Expense (NNE)	8.77	5.77	11	13	97	-7.20	-0.56	0.14	-3.70	3.24	3.05
Net Nonoperating Obligations (NNO)	-18	155	160	115	-189	-113	-121	-29	-21	54	-14
Total Depreciation and Amortization (D&A)	41	50	52	29	32	32	30	31	33	32	31
Debt-free, Cash-free Net Working Capital to Revenue	3.55%	12.39%	20.95%	31.72%	26.15%	2.79%	13.65%	31.54%	24.32%	39.06%	25.33%
Debt-free Net Working Capital to Revenue	30.01%	19.21%	29.00%	40.24%	49.75%	13.46%	27.62%	42.71%	35.68%	44.37%	31.70%
Net Working Capital to Revenue	29.14%	18.51%	27.96%	38.93%	49.75%	13.46%	27.62%	42.71%	35.68%	44.37%	31.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.39	$1.85	$0.30	$0.27	($0.90)	$4.62	$4.12	$0.80	$0.86	$0.30	$0.42
Adjusted Weighted Average Basic Shares Outstanding	67.87M	69.31M	67.00M	67.52M	68.14M	54.61M	47.23M	45.84M	45.81M	44.48M	44.42M
Adjusted Diluted Earnings per Share	$1.36	$1.82	$0.30	$0.27	($0.90)	$4.55	$4.08	$0.80	$0.86	$0.30	$0.41
Adjusted Weighted Average Diluted Shares Outstanding	69.36M	70.50M	67.96M	68.43M	68.14M	55.35M	47.73M	46.17M	46.25M	44.93M	44.93M
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	69.40M	66.78M	67.38M	67.92M	68.81M	48.00M	45.76M	46.08M	45.56M	44.31M	44.73M
Normalized Net Operating Profit after Tax (NOPAT)	103	134	19	32	36	245	194	37	36	17	22
Normalized NOPAT Margin	14.21%	14.79%	3.12%	6.59%	6.70%	23.12%	22.44%	7.72%	6.70%	3.51%	4.11%
Pre Tax Income Margin	20.07%	21.18%	2.90%	7.11%	7.40%	30.02%	29.21%	10.06%	9.22%	4.05%	4.79%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	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	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	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	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	3.26%	7.73%	49.72%	55.59%	172.04%	125.69%
Augmented Payout Ratio	0.00%	39.15%	0.00%	0.00%	0.00%	46.90%	54.00%	49.72%	81.38%	361.74%	125.69%

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

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q2 2026	Q3 2026
Period end date	1/31/2023	7/31/2024	10/31/2024	1/31/2024	4/30/2024	7/31/2025	10/31/2024	1/31/2025	4/30/2025	10/31/2025	1/31/2026
DEI Shares Outstanding	-	-	-	-	-	44,309,940.00	44,852,284.00	-	44,002,703.00	44,341,781.00	44,493,745.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	44,309,940.00	44,852,284.00	-	44,002,703.00	44,341,781.00	44,493,745.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-0.08	0.10	-	0.23	0.04	0.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-27.40%	0.00%	0.00%	6.55%	0.00%	-3.69%	3.78%	-15.71%	-20.14%	-3.86%	17.11%
EBITDA Growth	-68.61%	0.00%	0.00%	28.88%	0.00%	-14.98%	1.17%	-78.63%	-50.43%	-71.40%	14.54%
EBIT Growth	-63.00%	0.00%	0.00%	-24.74%	0.00%	-89.03%	8.11%	-63.40%	-60.92%	-41.69%	45.37%
NOPAT Growth	-64.42%	0.00%	0.00%	-20.37%	0.00%	-93.84%	7.89%	-66.87%	-58.02%	-53.20%	42.12%
Net Income Growth	-63.73%	0.00%	0.00%	-28.86%	0.00%	-83.88%	81.99%	-78.90%	-67.35%	-57.83%	78.54%
EPS Growth	-63.08%	0.00%	0.00%	-29.17%	0.00%	-100.00%	100.00%	-76.47%	-65.67%	-60.00%	60.00%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	0.00%	14.84%	73.68%	-306.95%	0.00%	-6.65%	0.00%	307.91%
Free Cash Flow Firm Growth	-1,077.71%	0.00%	0.00%	75.33%	0.00%	0.00%	0.00%	-61.35%	0.00%	-197.16%	175.40%
Invested Capital Growth	61.86%	0.00%	0.00%	11.11%	0.00%	6.05%	0.00%	13.33%	12.50%	0.00%	-7.26%
Revenue Q/Q Growth	0.00%	0.00%	46.81%	6.02%	15.76%	-54.03%	52.43%	0.00%	24.28%	0.00%	8.85%
EBITDA Q/Q Growth	0.00%	0.00%	145.63%	27.15%	120.14%	-88.63%	177.20%	0.00%	82.04%	0.00%	221.93%
EBIT Q/Q Growth	0.00%	0.00%	472.97%	61.78%	182.81%	-107.16%	360.08%	0.00%	205.29%	0.00%	57.06%
NOPAT Q/Q Growth	0.00%	0.00%	498.58%	65.93%	145.87%	-107.52%	370.69%	0.00%	216.27%	0.00%	78.81%
Net Income Q/Q Growth	0.00%	0.00%	296.30%	90.66%	231.27%	-110.31%	233.27%	0.00%	384.68%	0.00%	95.77%
EPS Q/Q Growth	0.00%	0.00%	280.00%	88.89%	235.29%	-111.11%	225.00%	0.00%	360.00%	0.00%	100.00%
Operating Cash Flow Q/Q Growth	0.00%	-181.13%	76.00%	1,468.33%	71.94%	-118.54%	-271.17%	0.00%	514.96%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	100.00%	0.00%	1,707.16%	0.00%	24.93%	0.00%	108.78%
Invested Capital Q/Q Growth	0.00%	0.00%	4.02%	-8.17%	-4.24%	15.41%	-100.00%	0.00%	-4.50%	0.00%	-2.55%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	32.43%	27.39%	26.64%	28.68%	35.50%	25.95%	26.61%	24.12%	29.62%	24.34%	26.22%
EBITDA Margin	11.61%	7.00%	11.71%	14.04%	25.22%	6.51%	11.84%	3.56%	15.60%	3.52%	10.42%
Operating Margin	10.96%	-2.11%	5.38%	8.21%	15.95%	-3.48%	5.81%	3.56%	10.11%	3.30%	4.95%
EBIT Margin	11.61%	-2.11%	5.37%	8.20%	20.03%	-3.40%	5.81%	3.56%	10.06%	3.52%	5.08%
Profit (Net Income) Margin	8.59%	-2.38%	3.19%	5.73%	16.41%	-4.01%	3.51%	1.44%	7.07%	1.54%	2.77%
Tax Burden Percent	76.58%	81.00%	74.51%	76.41%	83.51%	83.17%	74.37%	69.23%	71.69%	63.75%	69.88%
Interest Burden Percent	96.61%	139.19%	79.63%	91.53%	98.10%	141.61%	81.16%	58.23%	98.10%	68.47%	77.86%
Effective Tax Rate	23.42%	0.00%	25.49%	23.59%	16.49%	0.00%	25.63%	30.77%	28.31%	36.25%	30.12%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	18.92%	-3.05%	0.00%	0.00%	8.54%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	-4.54%	-5.55%	0.00%	0.00%	7.02%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.24%	-0.80%	0.00%	0.00%	0.30%	0.00%	0.00%
Return on Equity (ROE)	0.00%	0.00%	0.00%	0.00%	19.16%	-3.85%	0.00%	0.00%	8.84%	0.00%	0.00%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	3.86%	0.00%	0.00%	0.00%	-7.63%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	19.18%	-3.22%	0.00%	0.00%	8.40%	0.00%	0.00%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	15.71%	-3.79%	0.00%	0.00%	5.91%	0.00%	0.00%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	19.16%	-3.85%	0.00%	0.00%	8.84%	0.00%	0.00%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	11	-1.30	5.20	8.62	21	-2.07	5.60	2.86	10	2.62	4.69
NOPAT Margin	8.39%	-1.48%	4.01%	6.27%	13.32%	-2.43%	4.32%	2.46%	7.25%	2.10%	3.46%
Net Nonoperating Expense Percent (NNEP)	0.40%	2.33%	1.77%	-63.19%	23.46%	2.50%	0.00%	2.39%	1.52%	2.29%	1.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.29%	1.11%	1.95%	-	-0.45%	-	0.60%	2.31%	0.58%	1.07%
Cost of Revenue to Revenue	67.57%	72.61%	73.36%	71.32%	64.50%	74.05%	73.39%	75.88%	70.38%	75.66%	73.78%
SG&A Expenses to Revenue	12.07%	15.51%	12.17%	11.68%	12.49%	15.65%	11.73%	11.22%	9.74%	10.80%	11.41%
R&D to Revenue	1.65%	2.85%	1.71%	1.43%	1.11%	3.53%	1.71%	2.48%	1.02%	1.95%	1.78%
Operating Expenses to Revenue	21.47%	29.49%	21.26%	20.47%	19.56%	29.42%	20.80%	20.56%	19.51%	21.04%	21.28%
Earnings before Interest and Taxes (EBIT)	15	-1.87	6.97	11	32	-2.90	7.53	4.13	14	4.39	6.90
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	15	6.18	15	19	40	5.54	15	4.13	22	4.39	14
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.29	1.95	1.56	1.52	1.92	0.97	0.00	1.27	1.07	1.17	1.32
Price to Tangible Book Value (P/TBV)	1.37	2.07	1.65	1.62	2.03	1.03	0.00	1.35	1.14	1.24	1.41
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	1.43	0.66	1.02	0.00	0.84	0.00	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	19.32	8.85	13.15	0.00	29.70	0.00	0.00
Dividend Yield	3.62%	3.03%	3.91%	3.66%	2.85%	6.54%	4.07%	4.86%	5.74%	5.43%	4.81%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	5.18%	11.30%	7.60%	0.00%	3.37%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.30	1.87	1.48	1.50	1.97	0.97	0.00	1.22	1.06	1.15	1.28
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	1.39	0.80	0.00	0.00	0.95	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	8.86	4.98	0.00	0.00	8.12	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	14.47	8.11	0.00	0.00	18.96	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	20.73	11.67	0.00	0.00	27.17	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	107.74	0.00	0.00	5.86	6.97	3.29	0.00	0.00	0.00	9.71	6.61
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.07	0.18	0.27	0.17	0.10	0.26	0.00	0.30	0.21	0.25	0.20
Long-Term Debt to Equity	0.07	0.18	0.27	0.17	0.10	0.26	0.00	0.30	0.21	0.25	0.20
Financial Leverage	-0.18	0.09	0.16	0.00	-0.05	0.14	0.00	0.13	0.04	0.17	0.18
Leverage Ratio	1.43	1.51	1.59	1.46	1.43	1.52	0.00	1.55	1.47	1.51	1.54
Compound Leverage Factor	1.38	2.10	1.27	1.34	1.40	2.15	0.00	0.90	1.44	1.03	1.20
Debt to Total Capital	6.21%	15.61%	21.15%	14.70%	9.10%	20.53%	0.00%	23.05%	17.52%	19.68%	16.93%
Short-Term Debt 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%
Long-Term Debt to Total Capital	6.21%	15.61%	21.15%	14.70%	9.10%	20.53%	0.00%	23.05%	17.52%	19.68%	16.93%
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	93.79%	84.39%	78.85%	85.30%	90.90%	79.47%	0.00%	76.95%	82.48%	80.32%	83.07%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.47	1.10	0.00	0.00	1.42	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	-0.25	0.85	0.00	0.00	0.97	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.47	1.10	0.00	0.00	1.42	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	1.11	2.58	0.00	0.00	4.75	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	-0.58	2.00	0.00	0.00	3.23	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	1.11	2.58	0.00	0.00	4.75	0.00	0.00
Altman Z-Score	0.00	0.00	0.00	0.00	5.37	3.86	0.00	0.00	4.00	0.00	0.00
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	3.63	3.54	3.97	3.21	2.98	5.21	0.00	4.67	4.16	4.98	4.50
Quick Ratio	1.21	1.03	1.19	1.25	1.24	1.18	0.00	1.32	1.22	1.36	1.28
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-125	0.00	0.00	-31	0.00	-27	435	-50	-37	-422	37
Operating Cash Flow to CapEx	0.00%	-663.54%	-236.86%	135.78%	794.03%	-191.18%	-853.96%	0.00%	556.24%	0.00%	576.88%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	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	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	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.96	0.95	0.00	0.00	0.83	0.00	0.00
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	9.38	11.96	0.00	0.00	8.26	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	2.24	1.92	0.00	0.00	1.98	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	2.31	2.18	0.00	0.00	1.92	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	9.61	14.86	0.00	0.00	10.11	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	38.90	30.52	0.00	0.00	44.19	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	163.12	190.41	0.00	0.00	184.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	37.99	24.56	0.00	0.00	36.09	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	164.03	196.37	0.00	0.00	192.10	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	355	412	429	394	377	437	0.00	446	426	425	414
Invested Capital Turnover	0.00	0.00	0.00	0.00	1.42	1.25	0.00	0.00	1.18	0.00	0.00
Increase / (Decrease) in Invested Capital	136	0.00	0.00	39	0.00	25	-429	52	47	425	-32
Enterprise Value (EV)	462	772	634	591	744	425	0.00	544	453	487	532
Market Capitalization	482	737	574	574	765	352	550	462	399	425	481
Book Value per Share	$8.16	$8.30	$8.23	$8.25	$8.75	$8.22	$0.00	$8.27	$8.46	$8.19	$8.17
Tangible Book Value per Share	$7.66	$7.82	$7.75	$7.77	$8.27	$7.74	$0.00	$7.79	$7.98	$7.71	$7.69
Total Capital	399	448	468	441	438	459	0.00	473	452	452	437
Total Debt	25	70	99	65	40	94	0.00	109	79	89	74
Total Long-Term Debt	25	70	99	65	40	94	0.00	109	79	89	74
Net Debt	-20	34	60	17	-21	73	0.00	82	54	62	51
Capital Expenditures (CapEx)	0.00	4.64	3.12	75	5.49	4.24	3.53	0.00	7.34	0.00	3.55
Debt-free, Cash-free Net Working Capital (DFCFNWC)	180	169	190	143	130	201	0.00	208	185	187	180
Debt-free Net Working Capital (DFNWC)	225	205	229	190	191	223	0.00	235	211	215	203
Net Working Capital (NWC)	225	205	229	190	191	223	0.00	235	211	215	203
Net Nonoperating Expense (NNE)	-0.25	0.80	1.06	0.74	-4.92	1.34	1.06	1.19	0.25	0.71	0.94
Net Nonoperating Obligations (NNO)	-20	34	60	17	-21	73	0.00	82	54	62	51
Total Depreciation and Amortization (D&A)	0.00	8.05	8.21	8.03	8.27	8.44	7.83	0.00	7.99	0.00	7.24
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	24.32%	37.82%	0.00%	0.00%	39.06%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	35.68%	41.80%	0.00%	0.00%	44.37%	0.00%	0.00%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	0.00%	35.68%	41.80%	0.00%	0.00%	44.37%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.24	($0.05)	$0.09	$0.17	$0.57	($0.08)	$0.00	$0.04	$0.23	$0.04	$0.08
Adjusted Weighted Average Basic Shares Outstanding	45.90M	45.32M	44.52M	45.62M	45.81M	44.26M	0.00	44.04M	44.48M	44.40M	44.49M
Adjusted Diluted Earnings per Share	$0.24	($0.05)	$0.09	$0.17	$0.57	($0.08)	$0.00	$0.04	$0.23	$0.04	$0.08
Adjusted Weighted Average Diluted Shares Outstanding	46.17M	45.32M	44.94M	46.03M	46.25M	44.26M	0.00	44.40M	44.93M	44.74M	44.98M
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	45.90M	44.85M	44.00M	45.52M	45.56M	44.34M	0.00	44.00M	44.31M	44.49M	44.49M
Normalized Net Operating Profit after Tax (NOPAT)	11	-1.30	5.20	8.62	21	-2.07	5.60	2.86	10	2.62	4.69
Normalized NOPAT Margin	8.39%	-1.48%	4.01%	6.27%	13.32%	-2.43%	4.32%	2.46%	7.25%	2.10%	3.46%
Pre Tax Income Margin	11.21%	-2.94%	4.28%	7.50%	19.65%	-4.82%	4.71%	2.07%	9.87%	2.41%	3.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	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	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	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	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	55.59%	55.24%	53.98%	0.00%	172.04%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	81.38%	48.60%	112.80%	0.00%	361.74%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Smith & Wesson Brands (NASDAQ: SWBI) has shown a clear turnaround over the last several quarters, but the latest quarter also shows that profitability and cash generation remain uneven. Revenue improved sharply from the weak quarter a year ago, margins recovered, and operating cash flow was positive in the most recent quarter. At the same time, inventory remains elevated, debt is still meaningful, and cash flow can swing widely from quarter to quarter.

Q3 2026 revenue rose to $135.7 million, up from $115.9 million in the prior-year quarter, showing a solid rebound in sales.
Gross profit increased to $35.6 million in Q3 2026 from $27.9 million a year earlier, indicating better product economics.
Operating income improved to $6.7 million in Q3 2026, compared with $4.7 million in Q3 2025.
The company generated $74.6 million in operating cash flow in Q4 2026, a strong improvement versus the prior quarter and enough to support capital returns and debt reduction.
SWBI ended Q3 2026 with $18.4 million in cash and equivalents plus $5.0 million in short-term investments, giving it some liquidity flexibility.
Shares outstanding have stayed fairly stable around 44-45 million diluted shares, so dilution has not been a major issue recently.
The company continued paying dividends, with $0.13 per share in Q3 and Q2 2026, which may appeal to income-focused investors but also uses cash.
PPE remains large at $238.6 million in Q3 2026, suggesting a capital-intensive manufacturing base that requires ongoing investment.
Net income remains volatile: Q4 2026 net income was $16.2 million, down from $26.1 million in Q4 2025, showing earnings can swing significantly.
Inventory was still elevated at $175.3 million in Q3 2026, which could pressure working capital if demand softens.
Long-term debt increased to $74.1 million in Q3 2026 from $64.9 million in Q3 2025, and total debt remains a key balance-sheet item to watch.
Financing cash flow was heavily negative in Q4 2026 due to $55.0 million of debt repayment and $5.8 million of dividends, which can limit financial flexibility.
Looking back over the prior year, the company had quarters with weak or negative operating cash flow, including Q1 2025 and Q3 2025, highlighting inconsistency in cash generation.

Bottom line: SWBI’s recent results show a business that has improved from last year’s weaker quarters, with better revenue, margin recovery, and stronger recent operating cash flow. However, the company is still navigating a cyclical industry, a large inventory base, and a meaningful debt load. For investors, the setup looks like a turnaround that is improving, but not yet fully steady.

06/24/26 02:57 AM ETAI Generated. May Contain Errors.

Smith & Wesson Brands Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Smith & Wesson Brands' fiscal year ends in April. Their fiscal year 2026 ended on April 30, 2026.

Smith & Wesson Brands' net income appears to be on a downward trend, with a most recent value of $18.48 million in 2026, falling from $93.96 million in 2016. The previous period was $13.43 million in 2025. See where experts think Smith & Wesson Brands is headed by visiting Smith & Wesson Brands' forecast page.

Smith & Wesson Brands' total operating income in 2026 was $29.21 million, based on the following breakdown:

Total Gross Profit: $141.10 million
Total Operating Expenses: $111.89 million

Over the last 10 years, Smith & Wesson Brands' total revenue changed from $722.91 million in 2016 to $523.85 million in 2026, a change of -27.5%.

Smith & Wesson Brands' total liabilities were at $136.21 million at the end of 2026, a 27.2% decrease from 2025, and a 56.3% decrease since 2016.

In the past 10 years, Smith & Wesson Brands' cash and equivalents has ranged from $25.23 million in 2025 to $191.28 million in 2016, and is currently $28.19 million as of their latest financial filing in 2026.

Over the last 10 years, Smith & Wesson Brands' book value per share changed from 5.59 in 2016 to 8.46 in 2026, a change of 51.5%.

Related Companies

Financial statements for NASDAQ:SWBI last updated on 6/18/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Smith & Wesson Brands (SWBI) Financials

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Smith & Wesson Brands (SWBI) Financials

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