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SharkNinja, Inc. (SN)
:SN
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SharkNinja, Inc.
(NYSE:SN)
68Neutral
Positive Factors
Consumer Demand
High average monthly search volumes for CREAMi and FlexStyle indicate strong consumer interest.
Market Share Growth
SharkNinja continues to gain significant market share and outpaced overall market growth by 19 points in March.
Social Media Influence
SharkNinja has seen strong social media trends, with TikTok interactions for Shark Beauty up 2.4 times year over year in March.
Negative Factors
Price Objective Adjustment
Analyst lowers price objective to $120 from $140 due to increased earnings risk from tariffs.
Product Recall
SharkNinja voluntarily recalled its Ninja Foodi OP300 Series Multi-Function Pressure Cookers due to the pressure-cooking lid opening during use.
Tariff Risks
Tariffs both on China and new Southeast Asia sourcing regions remain the key risk.
SharkNinja, Inc. (SN) vs. S&P 500 (SPY)
Market Cap
$11.81B
Dividend YieldN/A
Average Volume (3M)2.27M
Price to Earnings (P/E)27.1
Beta (1Y)1.35
Revenue Growth29.97%
EPS Growth160.79%
CountryUS
Employees3,688
SectorConsumer Cyclical
Sector Strength59
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)3.11
Shares Outstanding140,347,440
10 Day Avg. Volume1,431,158
30 Day Avg. Volume2,265,092
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.22
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit5.39
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$116.25Price Target Upside38.16% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
SharkNinja, Inc. Business Overview & Revenue Model
Company DescriptionSharkNinja, Inc., a product design and technology company, engages in the provision of various solutions for consumers worldwide. It offers cleaning appliances, including corded and cordless vacuums, as well as other floorcare products; cooking and beverage appliances, such as air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, cookware, cutlery, kettles, toasters, and bakeware products; food preparation appliances comprising blenders, food processors, ice cream makers, and juicers; and beauty appliances, home environment products, and garment care products. The company sells its products through retailers, online and offline, and distributors. SharkNinja, Inc. was incorporated in 2017 and is headquartered in Needham, Massachusetts.
How the Company Makes MoneySharkNinja makes money through the sale of its consumer products, primarily marketed under the Shark and Ninja brands. The company generates revenue by designing, manufacturing, and selling a variety of household appliances such as vacuum cleaners, blenders, coffee makers, and air fryers. These products are sold through multiple channels, including direct-to-consumer sales via its website, as well as through major retail partners both online and in brick-and-mortar stores globally. Key revenue streams include domestic and international retail sales, supplemented by strategic partnerships and collaborations with retailers that expand the company's market reach and brand visibility. Additionally, SharkNinja invests in marketing and product development to maintain its competitive edge and meet consumer demand, contributing to sustained earnings growth.
SharkNinja, Inc. Financial Statement Overview
Summary
SharkNinja exhibits robust revenue growth and profitability, supported by strong margins and efficient capital use. The balance sheet reflects moderate leverage and a stable equity base, though cash flow reporting needs enhancement to fully evaluate financial health. Overall, the company is on a positive trajectory with some areas for improvement.Income Statement
SharkNinja has demonstrated strong revenue growth, with a 29.9% increase from 2023 to 2024. The gross profit margin improved to 48.1%, indicating efficient production and sales processes. The net profit margin also strengthened to 7.9%, reflecting effective cost management. EBIT and EBITDA margins stand at 11.6% and 13.7%, respectively, showcasing solid operating performance.85
Very Positive
Balance Sheet
The company's debt-to-equity ratio is 0.48, indicating moderate leverage and a stable financial position. Return on Equity (ROE) is healthy at 22.7%, reflecting efficient use of shareholder funds. The equity ratio of 44.0% suggests a balanced capital structure, though there is room for improvement in asset utilization.75
Positive
Cash Flow
The absence of reported operating and free cash flows for 2024 limits a comprehensive assessment. However, historical data shows fluctuations, with a notably strong free cash flow in 2020. The company needs to improve cash flow transparency to better assess operational efficiency.60
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 5.53B | 4.25B | 3.72B | 3.73B | 2.75B | Gross Profit |
| 2.66B | 1.91B | 1.41B | 1.44B | 1.25B | EBIT |
| 644.16M | 373.56M | 321.37M | 438.26M | 465.44M | EBITDA |
| 759.99M | 441.96M | 415.71M | 508.80M | 537.83M | Net Income Common Stockholders |
| 438.70M | 167.08M | 177.56M | 331.11M | 327.20M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 363.67M | 154.06M | 192.89M | 225.36M | 0.00 | Total Assets |
| 4.39B | 3.49B | 3.29B | 3.36B | 0.00 | Total Debt |
| 920.86M | 871.07M | 510.96M | 563.75M | 0.00 | Net Debt |
| 557.19M | 717.01M | 318.07M | 338.39M | 0.00 | Total Liabilities |
| 2.46B | 2.01B | 1.47B | 1.59B | 0.00 | Stockholders Equity |
| 1.94B | 1.48B | 1.83B | 1.76B | 0.00 |
| Cash Flow | Free Cash Flow | |||
| 0.00 | 148.80M | 110.53M | 169.07M | 232.36M | Operating Cash Flow |
| 0.00 | 280.60M | 204.96M | 229.15M | 293.44M | Investing Cash Flow |
| 0.00 | -118.08M | -52.38M | -66.37M | -81.43M | Financing Cash Flow |
| 0.00 | -234.87M | -160.17M | -54.50M | -120.67M |
SharkNinja, Inc. Technical Analysis
Neutral
84.14
Price Trends
85.36
Negative
95.40
Negative
95.76
Negative
Market Momentum
-0.86
Negative
56.20
Neutral
88.81
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SN, the sentiment is Neutral. The current price of 84.14 is above the 20-day moving average (MA) of 75.83, below the 50-day MA of 85.36, and below the 200-day MA of 95.76, indicating a neutral trend. The MACD of -0.86 indicates Negative momentum. The RSI at 56.20 is Neutral, neither overbought nor oversold. The STOCH value of 88.81 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SN.
SharkNinja, Inc. Risk Analysis
SharkNinja, Inc. disclosed 84 risk factors in its most recent earnings report. SharkNinja, Inc. reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SharkNinja, Inc. Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $1.71B | 14.16 | 12.40% | 2.03% | 1.81% | 8.09% | |
68 Neutral | $11.81B | 27.07 | 25.69% | ― | 29.97% | 160.79% | |
66 Neutral | $6.54B | 12.87 | 6.26% | ― | -2.68% | ― | |
61 Neutral | $6.65B | 11.71 | 3.09% | 3.98% | 2.65% | -20.82% | |
54 Neutral | $1.29B | ― | -50.33% | 2.10% | -6.54% | -221.33% | |
52 Neutral | $1.13B | 39.37 | 2.28% | 4.49% | -2.68% | -56.16% | |
51 Neutral | $4.50B | 13.03 | 0.37% | 8.99% | -18.43% | -97.97% |
* Consumer Cyclical Sector Average
Performance Comparison
SN
SharkNinja, Inc.
84.14
18.16
27.52%
MLKN
MillerKnoll
16.72
-9.31
-35.77%
LZB
La-Z-Boy Incorporated
41.31
8.00
24.02%
LEG
Leggett & Platt
9.53
-3.86
-28.83%
MHK
Mohawk
104.69
-13.35
-11.31%
WHR
Whirlpool
77.87
-11.04
-12.42%
SharkNinja, Inc. Earnings Call Summary
Earnings Call Date:Feb 13, 2025
(Q4-2024)
| % Change Since: -23.96%|
Next Earnings Date:May 08, 2025
Earnings Call Sentiment Positive
The earnings call highlights SharkNinja's strong financial performance, successful international expansion, and effective product innovation, which are offset by challenges related to supply chain adjustments and tariff impacts. Despite these challenges, the company's robust growth metrics and strategic initiatives suggest a positive outlook.Q4-2024 Updates
Positive Updates
Exceptional Q4 and Full Year Financial Performance
Net sales grew 30% in Q4, and adjusted EBITDA increased 32%. For the full year 2024, adjusted net sales and adjusted EBITDA both increased by 32%, with a compounded annual growth rate of 24% in adjusted net sales over the past 2 years.
Strong International Growth
International net sales grew 49% in Q4, driven by triple-digit growth in Germany and France. Overall, the international business achieved significant scale, generating $1.7 billion in net sales outside of North America in 2024.
Successful New Product Launches
Introduced 25 new products in 2024, expanding into new subcategories like coolers, fans, frozen drink appliances, and skin care. The Ninja SLUSHi and Shark CryoGlow were particularly successful, with SLUSHi generating over 0.5 billion social media impressions.
Continued Margin Improvement
Expanded adjusted EBITDA margins by nearly 300 basis points over the past 2 years, with a 220 basis point improvement in adjusted gross margin this year.
Negative Updates
Supply Chain Challenges
Elevated supply chain costs expected through the first half of 2025 due to strategic shifts in production outside of China to mitigate tariff impacts.
Impact of Tariffs
Recent 10% China tariffs have been proactively included in 2025 guidance, adding complexity and potential cost pressures to the business.
Mexico Market Transition
Transitioning Mexico from a distributor to a direct market model in Q1 2025 will result in a one-time revenue reversal and short-term sales impact.
Company Guidance
During SharkNinja's Fourth Quarter 2024 Earnings Call, guidance was provided for 2025, highlighting an anticipated net sales growth of 10% to 12%. Adjusted net income per diluted share is expected to rise by 12% to 15%, ranging from $4.80 to $4.90. The company forecasts adjusted EBITDA growth of 13% to 15%, reaching between $1.07 billion and $1.09 billion. Net interest expense is projected to remain flat compared to 2024, while the GAAP effective tax rate is estimated to be between 24% and 25%. Additionally, the company plans capital expenditures of $180 million to $200 million for the year. The guidance takes into account the dynamics of the current tariff landscape, including the recently announced 10% China tariffs.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.