Sportsman's Warehouse (SPWH) AI Stock Analysis

• Market Cap: $131.81M
• Dividend Yield: N/A
• Average Volume (3M): 625.90K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.06
• Revenue Growth: -4.92%
• EPS Growth: -13.73%
• Country: US
• Employees: 2,050
• Sector: Consumer Cyclical
• Sector Strength: 72
• Industry: Specialty Retail
• EPS (TTM): -0.41
• Shares Outstanding: 38,318,170
• 10 Day Avg. Volume: 329,529
• 30 Day Avg. Volume: 625,902
• PEG Ratio: 0.41
• Price to Book (P/B): 0.62
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -20.68
• Enterprise Value/Market Cap: 4.99
• Enterprise Value/Revenue: 0.14
• Enterprise Value/Gross Profit: 1.77
• Enterprise Value/Ebitda: 11.85
• 1Y Price Target: $3.75
• Price Target Upside: 13.29% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 55 Neutral
• Price Target: $3.50 ▲(5.74%Upside)

Sportsman's Warehouse's overall stock score of 55 reflects significant financial challenges, with declining revenues, high leverage, and negative cash flows being the most impactful factors. The technical analysis provides a positive outlook, suggesting potential for price appreciation. The valuation is not attractive due to negative earnings, and the earnings call presents a mixed sentiment with both achievements and ongoing challenges.

Positive Factors

Cost Management

The solid adj. EBITDA outlook reflects a turnaround effort on cost management, with initiatives helping to keep SG&A in check and potentially increase gross margins in the future.

Earnings

SPWH reported results that were above expectations, indicating strong financial performance.

Strategy

The company's successful strategy to target value-conscious customers during the holiday season drove traffic and maintained solid margins.

Negative Factors

Consumer Environment

The consumer spending environment remains difficult, with no significant signs of positive macro trends developing.

Economic Conditions

Challenging economic conditions persist, limiting the potential for immediate growth.

Sportsman's Warehouse Business Overview & Revenue Model

Company Description

Sportsman's Warehouse (SPWH) is a prominent retailer specializing in outdoor sporting goods. The company operates in the retail sector, focusing on a wide array of products for activities such as hunting, fishing, camping, and other outdoor recreational activities. Its core offerings include firearms, ammunition, hunting gear, fishing equipment, camping supplies, and apparel, catering to outdoor enthusiasts and adventure seekers across the United States.

How the Company Makes Money

Sportsman's Warehouse generates revenue primarily through the sale of its extensive range of outdoor sporting goods and related products. The company's revenue streams are largely derived from its brick-and-mortar retail locations, which provide a comprehensive shopping experience for customers seeking outdoor equipment and apparel. Additionally, Sportsman's Warehouse benefits from its e-commerce platform, which expands its reach to customers who prefer online shopping. The company often engages in strategic partnerships with well-known brands to offer exclusive products and leverage brand recognition, further enhancing its sales. Seasonal promotions, loyalty programs, and community events also contribute to driving customer engagement and boosting sales.

Sportsman's Warehouse Financial Statement Overview

Summary

Sportsman's Warehouse is facing significant financial challenges. The income statement shows declining revenue and profitability, with negative EBIT and net income. The balance sheet reveals high leverage with a debt-to-equity ratio of 2.46, and negative return on equity. Cash flow is also negative, indicating cash flow management issues. Overall, the company must address these financial inefficiencies to improve its financial health.

Income Statement

The income statement shows declining revenue and profitability. The TTM data indicates a negative EBIT and net income, with a gross profit margin of 30.96% and a net profit margin of -3.01%. Revenue has decreased compared to previous years, indicating challenges in maintaining sales growth. The negative EBIT and net profit margins highlight operational inefficiencies and profitability issues.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 2.46, indicating significant leverage. The equity ratio stands at 23.13%, suggesting moderate reliance on equity financing. Return on equity is negative due to net losses, reflecting poor returns for shareholders. The company's financial stability is at risk due to high debt levels and declining equity.

Cash Flow

The cash flow statement shows negative free cash flow growth, with a TTM free cash flow of -$6.49 million. The operating cash flow to net income ratio is -0.24, indicating cash flow challenges. The free cash flow to net income ratio is also negative, reflecting insufficient cash generation to cover net losses. Cash flow management needs improvement to support operations and reduce financial strain.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.20B	1.29B	1.40B	1.51B	1.45B
Gross Profit	370.47M	383.41M	460.24M	490.30M	476.45M
EBITDA	21.65M	13.67M	89.84M	203.38M	172.10M
Net Income	-33.06M	-29.00M	40.52M	108.47M	91.38M
Balance Sheet
Total Assets	852.10M	886.21M	858.96M	840.58M	660.82M
Cash, Cash Equivalents and Short-Term Investments	2.83M	3.14M	2.39M	57.02M	65.53M
Total Debt	477.20M	481.74M	393.45M	343.20M	264.31M
Total Liabilities	616.40M	621.65M	565.85M	526.41M	456.16M
Stockholders Equity	235.70M	264.56M	293.11M	314.17M	204.66M
Cash Flow
Free Cash Flow	19.59M	-27.63M	-16.72M	-75.08M	219.06M
Operating Cash Flow	34.15M	52.27M	46.79M	-21.63M	238.82M
Investing Cash Flow	-14.48M	-79.89M	-60.59M	-53.45M	-26.23M
Financing Cash Flow	-19.98M	28.38M	-40.84M	66.57M	-148.75M

Sportsman's Warehouse Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 3.31
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPWH, the sentiment is Neutral. The current price of 3.31 is below the 20-day moving average (MA) of 3.53, above the 50-day MA of 3.11, and above the 200-day MA of 2.27, indicating a neutral trend. The MACD of 0.09 indicates Positive momentum. The RSI at 50.60 is Neutral, neither overbought nor oversold. The STOCH value of 24.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SPWH.

Sportsman's Warehouse Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DKS	78 Outperform	$17.58B	15.69	40.22%	2.15%	3.33%	15.47%
LQDT	76 Outperform	$755.85M	31.10	14.01%	―	35.78%	23.49%
ETSY	73 Outperform	$6.54B	44.58	-39.97%	―	2.18%	-32.87%
ASO	73 Outperform	$3.72B	10.30	20.14%	0.89%	-3.57%	-17.43%
Sector *	62 Neutral	$17.27B	9.93	-8.46%	3.20%	1.63%	-26.06%
SPWH	55 Neutral	$131.81M	―	-15.67%	―	-4.92%	-13.73%
BGFV	51 Neutral	$32.32M	―	-39.57%	3.55%	-8.85%	-397.36%

Sportsman's Warehouse Corporate Events

Sportsman’s Warehouse Holds Annual Stockholders Meeting

On May 28, 2025, Sportsman’s Warehouse held its annual stockholders meeting where key decisions were made regarding the company’s governance and financial oversight. Stockholders elected four board members, approved executive compensation, and ratified Grant Thornton LLP as the independent accounting firm for fiscal year 2025, indicating continued confidence in the company’s leadership and financial management.

The most recent analyst rating on (SPWH) stock is a Buy with a $3.50 price target. To see the full list of analyst forecasts on Sportsman’s Warehouse stock, see the SPWH Stock Forecast page.