SMITH & WESSON BRANDS, INC. SWBI
We are one of the world's leading manufacturers and designers of firearms. We manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting rifles, pistol caliber carbines, and lever-action rifles), handcuffs, firearm suppressors, and other firearm-related products for sale to a wide variety of customers, including firearm enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. We sell our products under the Smith & Wesson and Gemtech brands. We manufacture our products at our facilities in Maryville, Tennessee; Springfield, Massachusetts; and Houlton, Maine. We also sell our manufacturing services under our Smith & Wesson and Smith & Wesson Precision Components brands to other businesses to attempt to level-load our factories.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $523.8M | $474.7M | $535.8M | $479.2M | $864.1M | $1.06B | $529.6M | $481.3M | $606.9M | $903.2M |
| Cost of revenue | $382.7M | $347.5M | $377.7M | $324.7M | $489.6M | $610.2M | $363.9M | $335.1M | $411.1M | $527.9M |
| Gross profit | $141.1M | $127.2M | $158.1M | $154.5M | $374.6M | $449.0M | $165.7M | $146.3M | $195.8M | $375.3M |
| R&D | $10.3M | $9.6M | $7.3M | $7.5M | $7.3M | $7.5M | $7.4M | $8.0M | $11.4M | $10.2M |
| SG&A | $60.0M | $54.9M | $63.1M | $61.6M | $72.5M | $79.3M | $66.0M | $67.1M | $101.5M | $115.8M |
| Total operating expenses | $111.9M | $103.3M | $111.0M | $106.1M | $122.9M | $129.4M | $115.4M | $102.8M | $168.7M | $175.3M |
| Operating income | $29.2M | $23.9M | $47.1M | $48.4M | $251.7M | $319.6M | $50.3M | $43.5M | $27.0M | $199.9M |
| Pre-tax income | $25.1M | $19.2M | $51.7M | $48.2M | $252.4M | $318.0M | $39.2M | $34.2M | $17.6M | $191.3M |
| Income tax | $6.6M | $5.8M | $10.4M | $11.3M | $57.9M | $74.4M | $11.5M | $9.3M | $2.5M | $63.5M |
| Net income | $18.5M | $13.4M | $41.4M | $36.9M | $194.5M | $252.0M | -$61.2M | $18.4M | $20.1M | $127.9M |
| EPS, basic | 0.42 | 0.30 | 0.90 | 0.80 | 4.12 | 4.62 | -1.11 | 0.34 | 0.37 | 2.29 |
| EPS, diluted | 0.41 | 0.30 | 0.89 | 0.80 | 4.08 | 4.55 | -1.10 | 0.33 | 0.37 | 2.25 |
| Shares, diluted (wtd. avg.) | $44.9K | $44.9K | $46.2K | $46.2K | $47.7M | $55.4M | $55.7M | $55.2M | $54.8M | $56.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $28.2M | $25.2M | $60.8M | $53.6M | $120.7M | $113.0M | $125.0M | $41.0M | $48.9M | $61.5M |
| Receivables | $40.0M | $55.9M | $59.1M | $55.2M | $62.7M | $67.4M | $60.9M | $84.9M | $56.7M | $108.4M |
| Total current assets | $241.4M | $277.3M | $287.3M | $291.9M | $327.6M | $268.3M | $393.5M | $298.7M | $270.4M | $318.4M |
| Property, plant and equipment | — | — | — | — | — | — | $157.4M | $183.3M | $159.1M | $149.7M |
| Goodwill | $19.0M | $19.0M | $19.0M | $19.0M | $19.0M | $19.0M | $19.0M | $182.3M | $191.3M | $169.0M |
| Other intangibles | $2.0M | $2.4M | $2.6M | $3.6M | $3.6M | $4.4M | $4.4M | $91.8M | $112.8M | $141.3M |
| Total assets | $512.8M | $559.6M | $577.4M | $541.3M | $497.5M | $446.4M | $729.5M | $766.8M | $745.1M | $788.0M |
| Accounts payable | $34.6M | $26.9M | $41.8M | $36.8M | $30.0M | $57.3M | $31.5M | $35.6M | $33.6M | $53.4M |
| Total current liabilities | $75.4M | $66.6M | $94.4M | $87.2M | $88.9M | $125.7M | $130.0M | $111.3M | $100.7M | $151.2M |
| Total liabilities | $136.2M | $187.2M | $177.5M | $156.7M | $137.0M | $180.0M | $342.4M | $322.3M | $322.9M | $394.9M |
| Retained earnings | $373.7M | $532.6M | $542.4M | $523.2M | $504.6M | $325.2M | $341.7M | $402.9M | $389.1M | $369.2M |
| Total equity | $376.6M | $372.5M | $399.9M | $384.6M | $360.5M | $266.4M | $387.1M | $444.4M | $422.1M | $393.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $114.2M | -$7.2M | $106.7M | $16.7M | $137.8M | $315.3M | $94.7M | $57.1M | $61.6M | $123.6M |
| Stock-based compensation | $8.3M | $7.6M | $5.7M | $5.1M | $4.5M | $4.7M | $2.4M | $6.9M | $7.8M | $8.6M |
| Capital expenditure | $23.7M | $21.6M | $90.8M | $89.6M | $24.0M | $22.1M | $12.4M | $30.9M | $18.5M | $34.9M |
| Investing cash flow | -$28.2M | -$19.2M | -$81.5M | -$89.8M | -$24.1M | -$23.4M | -$14.0M | -$34.8M | -$42.2M | -$243.7M |
| Financing cash flow | -$83.0M | -$9.2M | -$18.0M | $5.9M | -$106.0M | -$303.9M | $3.4M | -$30.5M | -$32.2M | -$9.6M |
| Dividends paid | $23.2M | $23.1M | $22.0M | $18.3M | $15.0M | $8.2M | $0 | — | — | — |
| Buybacks | $0 | $25.5M | $10.2M | $0 | $90.0M | $110.0M | $0 | — | — | $50.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-338441.
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