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SharkNinja, Inc. (SN)
:SN
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SharkNinja, Inc.
(NYSE:SN)
Rating:74Outperform
Price Target:
$119.00
▲(7.68%Upside)
Positive Factors
Market Share
SharkNinja continues to gain market share in its respective categories, outperforming by over 5 points in the second quarter.
Marketing Strategy
The company has employed a marketing strategy involving viral TikTok and Instagram videos of new product innovations.
Product Launch
New products like Ninja Swirl and Crispi are seeing a strong response from consumers despite low inventories, indicating a successful launch strategy.
Negative Factors
Inventory Management
On a quarterly basis, SN's retail takeaway was +14% in 2Q compared to +25% in 1Q.
Sales Growth
On a quarterly basis, SN's retail takeaway was +14% in 2Q compared to +25% in 1Q.
Tariffs
The trade deal with Vietnam reduces tariffs on imported goods to 20%, which is significantly lower than the previous tariffs and removes significant uncertainty for SN.
SharkNinja, Inc. (SN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.51B
Dividend YieldN/A
Average Volume (3M)1.80M
Price to Earnings (P/E)36.4
Beta (1Y)1.37
Revenue Growth27.33%
EPS Growth134.09%
CountryUS
Employees3,600
SectorConsumer Cyclical
Sector Strength65
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)0.87
Shares Outstanding140,347,440
10 Day Avg. Volume1,283,626
30 Day Avg. Volume1,795,613
Financial Highlights & Ratios
PEG Ratio21.75
Price to Book (P/B)7.59
Price to Sales (P/S)0.00
P/FCF Ratio81.92
Enterprise Value/Market Cap1.05
Enterprise Value/Revenue0.77
Enterprise Value/Gross Profit5.94
Enterprise Value/Ebitda5.88
Forecast
1Y Price Target
$126.00Price Target Upside14.02% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
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 generates revenue through the sale of its consumer products, primarily through direct-to-consumer channels, major retail partnerships, and e-commerce platforms. The company leverages its strong brand presence and product innovation to maintain a competitive edge in the household appliance market. Significant revenue streams include sales from its Shark-branded cleaning products and Ninja-branded kitchen appliances. Additionally, SharkNinja benefits from strategic partnerships with major retailers, which help expand its market reach and customer base. The company's focus on constant product development and marketing initiatives plays a crucial role in driving sales and securing its position as a market leader.
SharkNinja, Inc. Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 36.11%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
SharkNinja demonstrated strong revenue growth and innovation with a comprehensive tariff mitigation strategy, but faces significant challenges from tariffs and pressure on gross margins. The company's proactive approach and expanding international presence reflect a balanced outlook.Q1-2025 Updates
Positive Updates
Strong Revenue Growth
SharkNinja achieved its eighth consecutive quarter of double-digit revenue growth, with net sales increasing nearly 15% year-over-year globally.
Expansion and Innovation
The company launched into four new subcategories in 2024 and plans to launch at least 25 new products in 2025, including innovations like the Swirl by CREAMi and the TurboBlade fan.
Tariff Mitigation Strategy
SharkNinja has implemented a comprehensive tariff mitigation strategy involving supply chain diversification, price adjustments, and operational efficiencies.
International Growth
The international business grew 14% year-over-year, with significant growth in markets like Central Europe, Chile, Colombia, and Central America.
Product Demand and Market Share
New products like SLUSHi and CryoGlow have seen strong demand and market share gains, with CryoGlow becoming a viral sensation with over 1 billion impressions globally.
Negative Updates
Impact of Tariffs
SharkNinja faces considerable challenges due to tariffs, with an impact of hundreds of millions of dollars not fully mitigated.
Pressure on Gross Margin
Adjusted gross margin declined by 60 basis points year-over-year, affected by tariffs and the lapping of full-price sell-in within EMEA.
Decline in Adjusted EBITDA
Adjusted EBITDA decreased by 13% to $200 million, largely due to increased investments in new product development and supply chain diversification.
Operational Shifts and Uncertainty
The company is navigating complex operational shifts and policy uncertainty, affecting manufacturing centers and creating potential revenue disruptions in North America.
Company Guidance
During SharkNinja's Q1 2025 earnings call, the company provided detailed guidance for the year, reflecting a strong start with net sales increasing by 14.7% year-over-year to over $1.2 billion. Adjusted gross margin was reported at 50%, with adjusted EBITDA at $200 million. Despite the challenges posed by tariffs, SharkNinja raised its full-year 2025 guidance, expecting net sales to increase between 11% and 13%, adjusted net income per diluted share to be in the range of $4.90 to $5, and adjusted EBITDA to grow between 15% and 17% year-over-year. The company outlined a comprehensive strategy to mitigate tariff impacts through supply chain diversification, pricing strategies, and operational efficiency, with significant investments in R&D and global expansion. SharkNinja emphasized its continued commitment to innovation, planning to launch at least 25 new products in 2025, and highlighted its strong liquidity position with $225 million in cash and cash equivalents and a net leverage ratio of 0.6x.SharkNinja, Inc. Financial Statement Overview
Summary
SharkNinja, Inc. shows strong financial health with robust revenue growth and profitability. The company maintains a balanced debt-to-equity ratio and effective equity use, although rising liabilities and challenges in maintaining cash flow growth present potential risks.Income Statement
SharkNinja, Inc. demonstrates strong profitability with a consistent increase in gross profit margins over recent periods, reaching 48.07% TTM. The net profit margin also shows positive growth, currently at 7.86% TTM. Revenue growth is robust at 6.43% TTM, indicating strong demand. The EBIT and EBITDA margins remain stable at 11.16% and 13.42% respectively, showcasing efficient operational management. However, a slight dip in EBIT margin from the previous annual period suggests room for improvement in cost control.85
Very Positive
Balance Sheet
The company's debt-to-equity ratio is moderate at 0.46, indicating a balanced approach to leveraging. The equity ratio is healthy at 48.81% TTM, reflecting strong equity backing. ROE is commendable at 21.92% TTM, highlighting effective use of equity to generate profits. However, increasing total liabilities pose a potential risk if not managed efficiently.78
Positive
Cash Flow
The operating cash flow to net income ratio is solid at 0.78 TTM, indicating good cash conversion. Free cash flow has grown consistently, although the free cash flow to net income ratio has decreased to 0.42 TTM, suggesting challenges in maintaining cash flow growth relative to net income. The company's ability to generate cash is strong, yet declining free cash flow ratios could impact future liquidity if trends continue.76
Positive
| 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 |
| EBITDA | 759.29M | 441.96M | 415.71M | 508.80M | 537.83M |
| Net Income | 438.70M | 167.08M | 177.56M | 331.11M | 327.20M |
Balance Sheet | |||||
| Total Assets | 4.39B | 3.49B | 3.29B | 3.36B | 0.00 |
| Cash, Cash Equivalents and Short-Term Investments | 363.67M | 154.06M | 192.89M | 225.36M | 0.00 |
| Total Debt | 938.99M | 871.07M | 510.96M | 563.75M | 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 | 295.44M | 148.80M | 110.53M | 169.07M | 232.36M |
| Operating Cash Flow | 446.62M | 280.60M | 204.96M | 229.15M | 293.44M |
| Investing Cash Flow | -151.18M | -118.08M | -52.38M | -66.37M | -81.43M |
| Financing Cash Flow | -81.22M | -234.87M | -160.17M | -54.50M | -120.67M |
SharkNinja, Inc. Technical Analysis
Positive
110.51
Price Trends
96.43
Positive
90.69
Positive
97.58
Positive
Market Momentum
5.68
Negative
76.87
Negative
83.98
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SN, the sentiment is Positive. The current price of 110.51 is above the 20-day moving average (MA) of 102.60, above the 50-day MA of 96.43, and above the 200-day MA of 97.58, indicating a bullish trend. The MACD of 5.68 indicates Negative momentum. The RSI at 76.87 is Negative, neither overbought nor oversold. The STOCH value of 83.98 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $15.51B | 36.41 | 24.75% | ― | 27.33% | 134.09% | |
70 Outperform | $1.52B | 15.81 | 9.84% | 2.37% | 3.04% | -16.49% | |
66 Neutral | $6.74B | 14.24 | 6.26% | ― | -2.95% | ― | |
63 Neutral | $1.34B | 46.43 | 2.28% | 3.80% | -2.68% | -56.16% | |
63 Neutral | $16.78B | 10.88 | -7.08% | 3.04% | 1.73% | -25.15% | |
59 Neutral | $5.61B | 747.70 | 0.37% | 7.28% | -18.43% | -97.97% | |
53 Neutral | $1.32B | ― | -50.35% | 2.04% | -6.50% | -221.33% |
* Consumer Cyclical Sector Average
Performance Comparison
SN
SharkNinja, Inc.
114.96
42.96
59.67%
MLKN
MillerKnoll
19.88
-8.07
-28.87%
LZB
La-Z-Boy Incorporated
38.17
-3.14
-7.60%
LEG
Leggett & Platt
9.98
-2.50
-20.03%
MHK
Mohawk
111.25
-19.93
-15.19%
WHR
Whirlpool
96.62
-1.37
-1.40%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.