Latest Ratios: P/E Ratio 36.6x · EV/EBITDA 11.5x · ROE 4.9%. (2000–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $671M | $703M | $423M | $785M | $555M | $655M | $963M | $400M | $418M | $464M | $969M |
| Enterprise Value | $696M | $728M | $513M | $802M | $566M | $575M | $891M | $477M | $579M | $624M | $1.1B |
| P/E Ratio → | 36.59 | 37.90 | 31.77 | 19.73 | 15.02 | 3.37 | 3.82 | — | 22.94 | 22.86 | 7.57 |
| P/S Ratio | 1.28 | 1.34 | 0.89 | 1.46 | 1.16 | 0.76 | 0.91 | 0.59 | 0.65 | 0.76 | 1.07 |
| P/B Ratio | 1.80 | 1.87 | 1.14 | 1.96 | 1.44 | 1.82 | 3.62 | 1.03 | 0.94 | 1.10 | 2.46 |
| P/FCF | 7.43 | 7.78 | — | 49.69 | — | 5.77 | 3.29 | 4.99 | 18.19 | 10.89 | 11.00 |
| P/OCF | 5.88 | 6.16 | — | 7.35 | 33.17 | 4.75 | 3.05 | 4.22 | 7.28 | 7.53 | 7.84 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.39 | 1.08 | 1.50 | 1.18 | 0.67 | 0.84 | 0.70 | 0.91 | 1.03 | 1.25 |
| EV / EBITDA | 11.50 | 12.04 | 9.20 | 10.37 | 7.10 | 2.04 | 2.54 | 5.87 | 6.33 | 8.00 | 4.51 |
| EV / EBIT | 23.83 | 24.37 | 21.48 | 15.58 | 11.37 | 2.28 | 2.79 | 9.39 | 13.30 | 21.69 | 5.63 |
| EV / FCF | — | 8.06 | — | 50.77 | — | 5.06 | 3.05 | 5.94 | 25.18 | 14.66 | 12.78 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.9% | 26.9% | 26.8% | 29.5% | 32.2% | 43.3% | 42.4% | 34.6% | 35.4% | 32.3% | 41.5% |
| Operating Margin | 5.6% | 5.6% | 5.0% | 8.4% | 10.1% | 29.1% | 30.2% | 7.4% | 6.0% | 4.5% | 22.1% |
| Net Profit Margin | 3.5% | 3.5% | 2.8% | 7.4% | 7.7% | 22.5% | 23.8% | -9.0% | 2.9% | 3.3% | 14.2% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.9% | 4.9% | 3.5% | 10.1% | 9.9% | 62.0% | 77.1% | -14.7% | 4.2% | 4.9% | 36.5% |
| ROA | 3.4% | 3.4% | 2.4% | 7.1% | 7.1% | 41.2% | 42.9% | -8.2% | 2.4% | 2.6% | 18.2% |
| ROIC | 5.1% | 5.1% | 4.1% | 8.3% | 10.7% | 79.5% | 72.8% | 7.0% | 4.8% | 3.6% | 35.7% |
| ROCE | 6.3% | 6.3% | 4.9% | 9.6% | 11.2% | 69.0% | 69.5% | 8.0% | 5.9% | 4.2% | 35.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.14 | 0.14 | 0.31 | 0.19 | 0.17 | 0.11 | 0.15 | 0.52 | 0.45 | 0.50 | 0.55 |
| Debt / EBITDA | 0.88 | 0.88 | 2.06 | 1.01 | 0.81 | 0.14 | 0.12 | 2.48 | 2.21 | 2.68 | 0.87 |
| Net Debt / Equity | — | 0.07 | 0.24 | 0.04 | 0.03 | -0.22 | -0.27 | 0.20 | 0.36 | 0.38 | 0.40 |
| Net Debt / EBITDA | 0.41 | 0.41 | 1.61 | 0.22 | 0.14 | -0.29 | -0.21 | 0.94 | 1.76 | 2.05 | 0.63 |
| Debt / FCF | — | 0.28 | — | 1.07 | — | -0.71 | -0.25 | 0.95 | 7.00 | 3.76 | 1.78 |
| Interest Coverage | 6.21 | 6.21 | 5.16 | 25.04 | 150.32 | 117.87 | 81.56 | 4.37 | 4.45 | 2.58 | 23.29 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.20 | 3.20 | 4.16 | 3.05 | 3.35 | 3.68 | 2.13 | 3.03 | 2.68 | 2.69 | 2.11 |
| Quick Ratio | 1.13 | 1.13 | 1.31 | 1.35 | 1.32 | 2.15 | 1.51 | 2.23 | 1.21 | 1.16 | 1.23 |
| Cash Ratio | 0.44 | 0.44 | 0.38 | 0.64 | 0.61 | 1.36 | 0.90 | 0.96 | 0.37 | 0.49 | 0.41 |
| Asset Turnover | — | 1.02 | 0.85 | 0.93 | 0.89 | 1.74 | 2.37 | 0.93 | 0.83 | 0.81 | 1.15 |
| Inventory Turnover | 2.45 | 2.45 | 1.83 | 2.35 | 1.83 | 3.58 | 7.78 | 4.28 | 2.52 | 2.68 | 4.01 |
| Days Sales Outstanding | — | 31.10 | 43.01 | 41.57 | 42.90 | 27.30 | 23.55 | 33.61 | 49.96 | 36.84 | 48.13 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.4% | 3.3% | 5.5% | 2.8% | 3.3% | 2.3% | 0.9% | — | — | — | — |
| Payout Ratio | 125.7% | 125.7% | 172.0% | 55.6% | 49.7% | 7.7% | 3.3% | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.7% | 2.6% | 3.1% | 5.1% | 6.7% | 29.7% | 26.1% | — | 4.4% | 4.4% | 13.2% |
| FCF Yield | 13.5% | 12.8% | — | 2.0% | — | 17.3% | 30.4% | 20.0% | 5.5% | 9.2% | 9.1% |
| Buyback Yield | 0.0% | 0.0% | 6.0% | 1.3% | 0.2% | 13.7% | 11.4% | 0.1% | 0.2% | 0.5% | 5.2% |
| Total Shareholder Yield | 3.4% | 3.3% | 11.5% | 4.1% | 3.5% | 16.0% | 12.3% | 0.1% | 0.2% | 0.5% | 5.2% |
| Shares Outstanding | — | $45M | $44M | $46M | $46M | $48M | $55M | $55M | $55M | $55M | $57M |
Cyclical demand volatility
According to recent market data, SWBI trades at a TTM P/E of 37.15, which appears to incorporate a significant premium for the company's recent operational relocation, potentially mispricing the stock relative to its historical earnings volatility and the cyclical nature of the domestic firearms industry.
The forward P/E of 55.38 suggests that investors are anticipating a sharp earnings recovery, yet this valuation may be disconnected from the reality of normalized post-pandemic demand. When compared to the broader industrial sector, the current P/S of 1.30 indicates that the market is cautious about assigning a growth multiple to a business model that remains heavily dependent on unpredictable political and social cycles.
Based on reported figures, SWBI's ROIC has fluctuated significantly, reaching a recent peak of 3.8% in 2026Q4, which underscores the difficulty of compounding returns in a capital-intensive manufacturing environment that is frequently disrupted by inventory liquidation cycles and shifting distributor demand patterns.
The low ROIC levels suggest that the company's heavy investment in the Tennessee facility has yet to yield a sustainable return above the cost of capital. Investors should monitor whether the recent uptick in ROE to 4.4% represents a structural improvement in asset utilization or merely a temporary benefit from the recent surge in quarterly volume.
As reported in financial statements, the company's cash conversion cycle remains highly volatile, peaking at 305 days in 2026Q1 before compressing to 121 days by 2026Q4, illustrating how inventory management and distributor payment terms drive the company's short-term operational efficiency more than underlying sales growth.
The wide variance in days inventory outstanding, which reached 287 days during the 2026Q1 trough, suggests that the company is prone to significant channel stuffing or inventory bloat during demand lulls. This inefficiency forces management to rely on aggressive promotional activity, which may explain the inconsistent gross margin performance observed over the last ten quarters.
According to recent SEC filings, SWBI maintains a debt-to-equity ratio of 0.14, a conservative posture that provides a critical buffer against the industry's inherent demand volatility and ensures the company remains well-positioned to navigate potential future downturns without the burden of significant interest obligations.
The interest coverage ratio of 16.71 in 2026Q4 demonstrates that the company's debt service is currently comfortable, even when accounting for the cyclical nature of its operating income. This balance sheet strength is a key differentiator from peers, allowing the company to prioritize internal investment and share repurchases during periods of industry-wide contraction.
The P/E ratio is frequently misapplied to SWBI, as it obscures the impact of non-recurring relocation costs and the extreme volatility of earnings caused by the company's transactional, cyclical revenue model, which often leads to misleading valuation signals during periods of demand normalization.
Analysts should instead focus on EV/EBITDA or P/FCF, as these metrics better account for the company's capital-intensive manufacturing base and the significant swings in working capital that distort GAAP net income. Relying on P/E in this context risks overestimating the company's earnings power during peak demand years and underestimating its resilience during cyclical troughs.
Includes 30+ ratios · 27 years · Updated daily
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Quick answers to the most common questions about buying SWBI stock.
Smith & Wesson Brands, Inc.'s current P/E ratio is 36.6x. The historical average is 18.8x. This places it at the 90th percentile of its historical range.
Smith & Wesson Brands, Inc.'s current EV/EBITDA is 11.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.2x.
Smith & Wesson Brands, Inc.'s return on equity (ROE) is 4.9%. The historical average is 23.7%.
Based on historical data, Smith & Wesson Brands, Inc. is trading at a P/E of 36.6x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Smith & Wesson Brands, Inc.'s current dividend yield is 3.42% with a payout ratio of 125.7%.
Smith & Wesson Brands, Inc. has 26.9% gross margin and 5.6% operating margin.
Smith & Wesson Brands, Inc.'s Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.