Quality Investor

Smith & Wesson Brands, Inc.

Rank #253Capital Return

SWBI · Nasdaq · Industrials

Smith & Wesson Brands, Inc. (SWBI) — Rank #253 by gross profitability (GP/assets 0.27) · ROE 4.9% · Piotroski F-Score 6 / 9.

As-of 2026-09-15 · CIK 0001092796 · all metrics point-in-time as of the filing date.

About

Smith & Wesson Brands, Inc. engages in the design, manufacture, and sale of firearms worldwide.

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It offers handguns, including revolvers and pistols; long guns, such as modern sporting rifles, pistol caliber carbines, and lever-action rifles; handcuffs; suppressors; and other firearm-related products. It also provides manufacturing services comprising forging, heat treating, rapid prototyping, tooling, finishing, plating, machining, and custom plastic injection molding, assembly, and distribution services to other businesses; and sells parts purchased through third parties. The company sells its products to firearm enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement, security agencies and officers, and military agencies. It markets its products through independent dealers, retailers, in-store retails, and direct to consumers, and range operations; print, broadcast, and digital advertising campaigns; social and electronic media; and in-store retail merchandising strategies.

The company was founded in 1852 and is based in Maryville, Tennessee.

Industry
Aerospace & Defense
Sector
Industrials
State
NV
Filer Category
Accelerated filer
Fiscal Year End
April 30

Price History

SWBI-29.2% · -6.7% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$582.47M

P/E (annual)

31.7

P/S (annual)

1.1

P/B

1.6

P/OCF (annual)

5.1

Shareholder Yield

4.0%

Employees

1,378

Industry

Aerospace & Defense

Exchange

Nasdaq

Signal Flags

2 green
Revenue growth acceleratingGrowth rate increasing year over year
Operating leverage expandingOperating income growing faster than revenue

Quality Profile

Profitability

1/1 pass
GP / assets
0.27
Return on equity
4.9%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.40
Current ratio
3.62×
Net cash
$18.70M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.6%

Growth

2/2 pass
Revenue growth
10.4%
Piotroski F-Score
6 / 9
Share dilution
0.0%

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

33.5xExpensive
3.1xmed 19.0x33.5x

P / S

Price / revenue per share

0.0xCheap
0.0xmed 0.7x1.4x

P / B

Price / book value per share

0.0xCheap
0.0xmed 1.2x4.1x

P / GP

Price / gross profit per share

0.0xCheap
0.0xmed 1.9x4.8x

P / FCF

Price / free cash flow per share

0.0xCheap
0.0xmed 7.5x47.5x

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.27

Primary signal (Novy-Marx).

6th of 15 SIC 34 peers

Return on equity

4.9%

Gross margin

26.9%

13th of 15 SIC 34 peers

Revenue growth (YoY)

10.4%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202420252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

3.0%

Revenue CAGR (5Y)

-13.1%

Earnings CAGR (3Y)

-20.6%

FCF CAGR (3Y)

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.40

3rd of 15 SIC 34 peers (best = lowest)

Current ratio

3.62×

3rd of 15 SIC 34 peers

Quick ratio

0.71×

Net cash

$18.70M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$90.45M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

3.89

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.6%

Stock-based comp intensity.

Dividend safety

Composite score

2.5 / 5

Fair
Payout ratio
125.7%0/5 Weak
FCF coverage
3.89×5/5 Strong
Dividend growth streak
5 yr3/5 Good
Balance-sheet health
D/E 0.40 · IC N/A2/5 Fair

Piotroski F-Score

F-Score

6 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20212026
Hypergrowth
Decline
Capital Return