Smith & Wesson Brands, Inc.
SWBI Industrials Aerospace & Defense
Smith & Wesson Brands, Inc.’s revenue for fiscal 2026 (year ended April 2026) was $523.8 million, up 10.4% from fiscal 2025. In the quarter to July 2026, revenue grew 32.3%, EPS grew 175.0%, free cash flow fell 67.5% and total debt fell 44.4%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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Smith & Wesson Brands, Inc. (SWBI) Piotroski F-score
Smith & Wesson Brands, Inc.'s Piotroski F-score for fiscal 2026 is 8 out of 9: 8 of nine tests of profitability, leverage and efficiency passed, up from 3 in fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 8 | 5.00 |
| FY2025 | 3 | (3.00) |
| FY2024 | 6 | 3.00 |
| FY2023 | 3 | (3.00) |
| FY2022 | 6 | (2.00) |
| FY2021 | 8 | 3.00 |
| FY2020 | 5 | 1.00 |
| FY2019 | 4 | (2.00) |
| FY2018 | 6 | 1.00 |
| FY2017 | 5 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 3.45% | 2.36% | Pass | 1 |
| Positive operating cash flow | 114.20m | (7.22m) | Pass | 1 |
| Rising return on assets | 3.45% | 2.36% | Pass | 1 |
| Cash flow above net income | 95.71m | (20.65m) | Pass | 1 |
| Falling long-term leverage | 0.10 | 0.20 | Pass | 1 |
| Rising current ratio | 3.20 | 4.16 | Fail | 0 |
| No new shares issued | 44,420,000 | 44,484,000 | Pass | 1 |
| Rising gross margin | 26.94% | 26.79% | Pass | 1 |
| Rising asset turnover | 0.98 | 0.83 | Pass | 1 |
| Piotroski F-score | Strong — most fundamentals improved | 8 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| PKE Park Aerospace Corp. compare | 9 |
| SWBI Smith & Wesson Brands, Inc. | 8 |
| TATT TAT Technologies Ltd. compare | 6 |
| RGR Sturm, Ruger & Company, Inc. compare | 5 |
| SATL Satellogic Inc. compare | 4 |
| SPCE Virgin Galactic Holdings, Inc. compare | 3 |
| NPK National Presto Industries, Inc. compare | 3 |
| RCAT Red Cat Holdings, Inc. compare | — |
| EVEX Eve Holding, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover