| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | 3 | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2018 | ‡‡‡ |
|
| 2024 | 2025 | 2026 | Q'26 | |
|---|---|---|---|---|
| Cash | 3.14 | 2.83 | 1.66 | 1.98 |
| Receivables | 2.12 | 2.41 | 4.39 | 2.67 |
| Inventory | 354.71 | 341.96 | 312.86 | 398.97 |
| Other | — | — | — | — |
| 380.05 | 366.00 | 337.74 | 424.30 |
| 2024 | 2025 | 2026 | Q'26 | |
|---|---|---|---|---|
| Payables | 56.12 | 64.04 | 44.93 | 71.40 |
| ST’ Debt | 126.04 | 74.65 | 47.52 | 125.12 |
| Other | — | — | — | — |
| 314.65 | 283.96 | 249.03 | 363.36 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Apr | Jul | Oct | Jan | Year | |
|---|---|---|---|---|---|
| ’26 | 256.08 | 295.58 | — | — |
—
|
| ’26 | 249.10 | 293.90 | 331.32 | 334.86 |
1,209.18
|
| ’25 | 244.24 | 288.73 | 324.26 | 340.40 |
1,197.63
|
| ’24 | 267.53 | 309.50 | 340.57 | 370.39 |
1,287.99
|
| ’23 | 309.51 | 351.02 | 359.72 | 379.27 |
1,399.52
|
| ’22 | 326.99 | 361.78 | 401.01 | 416.29 |
1,506.07
|
| ’21 | 246.84 | 380.99 | 385.75 | 438.20 |
1,451.77
|
| Apr | Jul | Oct | Jan | Year | |
|---|---|---|---|---|---|
| ’26 | (55.37) | (12.07) | — | — |
—
|
| ’26 | (60.23) | (26.56) | 16.30 | 101.82 |
31.33
|
| ’25 | (34.65) | 18.52 | (2.54) | 52.82 |
34.15
|
| ’24 | (36.98) | (21.34) | 41.69 | 68.90 |
52.27
|
| ’23 | (16.84) | 24.81 | 6.54 | 32.29 |
46.79
|
| ’22 | (4.01) | (63.77) | (10.56) | 56.72 |
(21.63)
|
| ’21 | 31.28 | 114.47 | 25.99 | 67.08 |
238.82
|
| Apr | Jul | Oct | Jan | Year | |
|---|---|---|---|---|---|
| ’26 | (59.60) | (15.53) | — | — |
—
|
| ’26 | (64.04) | (33.93) | 8.74 | 98.12 |
8.90
|
| ’25 | (37.94) | 14.18 | (6.16) | 49.59 |
19.67
|
| ’24 | (59.74) | (50.56) | 22.49 | 60.18 |
(27.63)
|
| ’23 | (28.84) | 14.22 | (9.35) | 7.25 |
(16.72)
|
| ’22 | (9.62) | (76.09) | (31.09) | 41.73 |
(75.08)
|
| ’21 | 26.45 | 110.72 | 19.17 | 62.72 |
219.06
|
| Apr | Jul | Oct | Jan | Year | |
|---|---|---|---|---|---|
| ’26 | (0.56) | (0.11) | — | — |
—
|
| ’26 | (0.56) | (0.18) | 0.00 | (0.56) |
(1.30)
|
| ’25 | (0.48) | (0.16) | (0.01) | (0.23) |
(0.87)
|
| ’24 | (0.42) | (0.09) | (0.04) | (0.23) |
(0.77)
|
| ’23 | 0.05 | 0.35 | 0.33 | 0.29 |
1.00
|
| ’22 | 0.23 | 0.40 | 0.49 | 1.31 |
2.44
|
| ’21 | (0.03) | 0.73 | 0.68 | 0.66 |
2.06
|
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 7.75 | 2.98 | 1.81 | 0.92 | 1.08 | — | — | — |
Low Price
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.28 | 10.26 | 4.62 | 4.33 | 1.70 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,700 | 6,700 | 5,400 | 5,100 | 4,800 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.20 | 0.21 | 0.24 | 0.23 | 0.25 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,506.07 | 1,399.52 | 1,287.99 | 1,197.63 | 1,209.18 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.55% | 32.89% | 29.77% | 30.93% | 30.89% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 144.24 | 53.87 | (38.21) | (31.13) | (51.15) | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.58% | 3.85% | (2.97%) | (2.60%) | (4.23%) | ‡‡‡ | ‡‡‡ | — |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 108.47 | 40.52 | (29.00) | (33.06) | (50.06) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.48 | 31.96 | 39.16 | 40.85 | 39.78 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 34.36 | 34.57 | 34.36 | 31.68 | 31.50 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Revenue/Sh
|
| ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | 2.47 | 1.00 | (0.77) | (0.87) | (1.30) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.49) | 1.16 | 1.39 | 0.90 | 0.82 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.22) | (1.57) | (2.13) | (0.38) | (0.58) | ‡‡‡ | ‡‡‡ | — |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.71) | (0.41) | (0.74) | 0.52 | 0.23 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.17 | 7.24 | 7.06 | 6.23 | 4.91 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 43.83 | 40.49 | 37.49 | 37.81 | 38.39 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.44 | 9.16 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.32 | 0.27 | 0.11 | 0.06 | 0.04 | ‡‡‡ | ‡‡‡ | — |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.53 | 1.30 | 0.55 | 0.33 | 0.27 | ‡‡‡ | ‡‡‡ | — |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.48 | 0.52 | 0.44 | 0.14 | 0.12 | ‡‡‡ | ‡‡‡ | — |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (9.66) | (43.51) | (20.51) | 8.80 | 16.05 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (21.63) | 46.79 | 52.27 | 34.15 | 31.33 | ‡‡‡ | ‡‡‡ | — |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (53.45) | (63.51) | (79.89) | (14.48) | (22.43) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (75.08) | (16.72) | (27.63) | 19.67 | 8.90 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 183.06 | 130.07 | 65.40 | 82.04 | 88.71 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 302.28 | 347.98 | 126.04 | 98.72 | 92.58 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 245.26 | 345.59 | 122.90 | 95.89 | 90.93 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 314.17 | 293.11 | 264.56 | 235.70 | 188.56 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.45% | 4.77% | (3.32%) | (3.80%) | (6.20%) | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.12% | 5.68% | (4.09%) | (3.44%) | (8.35%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 41.81% | 13.34% | (10.40%) | (13.22%) | (23.60%) | — | — | — |
ROE
|
Sportsman’s Warehouse Holdings, Inc. (SPWH) rode a spectacular COVID-fueled wave, surging revenue 64% to $1.45 billion in 2021 as outdoor enthusiasts embraced hunting, camping, and fishing amid lockdowns. But post-pandemic normalization hit hard—sales contracted 8% to $1.29 billion in 2024, margins eroded to negative territory, and the stock plunged to multi-year lows around $1.80, trading at rock-bottom P/S ratios of 0.11 amid profitability woes and e-commerce pressures.
Yet glimmers of turnaround shine brightly: insiders, including the CEO and directors, piled in with over $667,000 in buys during 2025, signaling conviction at cycle lows. Debt slashed 64% to $126 million, book value per share up 144% from 2020, and efficiency metrics like revenue per share doubled since 2016, positioning SPWH for leverage as capex moderates and free cash flow turns positive.
Analysts eye 160% mean upside to price targets, fueled by potential outdoor spending rebound (4% CAGR projected), store optimizations, and regulatory tailwinds for gun sales. While risks like competition and macro headwinds persist, this distressed retailer echoes past retail survivors—primed for 2-3x potential if margins rebuild. Dive into the full analysis for the data-driven case.
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