Smith & Wesson Brands, Inc. Financial Ratios — SWBI Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	168.01	40.46	48.33	41.88	5.31	4.65	-16.44	75.57	46.87	7.17	7.76	2.5
Return on Assets (%)	-26.25	5.93	26.74	25.21	11.37	16.92	18.17	2.63	2.44	-8.18	42.87	41.21	7.1	7.39	2.36
Return on Capital (%)	-220.34	-162.19	503.79	77.56	21.86	27.97	26.64	- -	4.25	-9.24	56.07	43.04	6.56	7.12	2.63
Return on Invested Capital (%)	5	17.45	42.67	39.05	17.55	23.67	24.02	- -	4.94	5.61	52.36	53.04	8.55	8.03	3.05
Gross Margin (%)	30.59	31.05	37.12	41.35	35.32	40.64	41.55	32.26	30.39	31.28	42.39	43.35	32.25	29.5	26.79
EBITDA Margin (%)	9.06	14.66	25.46	27.56	21.84	27.65	27.7	13.04	15.08	15.54	33.16	32.6	16.65	14.86	11.21
Operating Margin (%)	5.2	10.9	22.61	24.1	16.24	21.95	22.14	4.46	9.04	9.5	30.18	29.12	10.09	8.79	4.5
Incremental Operating Margin (%)	141.98	38.88	50.09	46.42	82.08	40.35	22.91	58.34	-13.12	14.06	50.86	34.85	52.82	-2.21	42.05
Pretax Margin (%)	3.95	9.47	21.77	21.82	14.27	20.07	21.18	2.9	7.11	7.4	30.02	29.21	10.06	9.65	4.05
Profit Margin (%)	-24.18	3.91	13.4	14.25	8.99	13	14.16	3.32	3.82	-11.56	23.8	22.51	7.69	7.72	2.83
Net Income to Common Margin (%)	-24.18	3.91	13.4	14.25	8.99	13	14.16	3.32	3.82	-11.56	23.8	22.51	7.69	7.72	2.83
Effective Tax Rate (%)	40.3	32.25	36.35	35.18	36.71	35.24	33.17	- -	27.14	29.41	23.4	22.94	23.54	20.02	30.24
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.38	7.73	49.72	53.24	172.04
Sustainable Growth Rate (%)	- -	- -	- -	168.01	40.46	48.33	41.88	5.31	4.65	-16.44	73.02	43.24	3.61	3.63	-1.8

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	80	50	44	100	171	174	218	209	202	202	41	40	64	78	115
ST Debt	30	- -	- -	- -	- -	8	7	7	7	3	2	3	3	3	2
LT Debt	50	50	44	100	171	167	211	202	195	199	39	38	62	75	113
Total Debt/EBITDA	2.58	0.83	0.29	0.58	1.42	0.87	0.87	2.64	2.78	2.45	0.12	0.14	0.81	0.98	2.16
Net Debt/EBITDA	0.89	-0.06	-0.36	0.18	1.07	-0.09	0.62	1.74	1.58	0.42	-0.32	-0.43	-0.36	-0.26	1.01
Total Debt/EBIT	4.5	1.12	0.33	0.67	1.91	1.1	1.09	7.73	4.64	4.01	0.13	0.16	1.33	1.65	5.37
Net Debt/EBIT	1.55	-0.08	-0.4	0.21	1.44	-0.12	0.78	5.09	2.64	0.68	-0.35	-0.48	-0.6	-0.45	2.52
EBITDA to Interest Expense	5.46	8.07	25.87	14.08	11.02	14.78	29.15	7.08	7.41	7.08	89.62	131.96	241.02	38.76	11.51
EBITDA-CapEx/Interest Expense	1.94	6.21	18.69	8.96	8.41	12.49	25.01	5.38	4.23	5.97	83.83	120.6	-30.58	-5.5	6.8
EBIT to Interest Expense	3.13	6	22.98	12.31	8.2	11.73	23.3	2.42	4.45	4.33	81.56	117.87	146.05	22.92	4.62
Interest Expense	6	7	6	12	11	14	9	11	10	12	4	2	- -	2	5
Common Equity/Total Assets	-30.66	-26.83	2.6	25.64	30.03	38.96	46.86	52.24	52.56	46.85	72.86	101.46	96.67	93.95	95.19
Long-Term Debt/Equity (%)	53.92	44.31	24.03	59.94	87.94	54.11	53.58	47.96	43.84	51.42	14.56	10.44	16.05	18.83	30.29
Long-Term Debt/Capital (%)	-791.39	-252.6	82.96	50.43	53.61	40.07	35.87	33.83	32.21	36.63	10.58	6.9	10.51	12.14	17.42
Long-Term Debt/Total Assets (%)	17.76	19.11	13.32	26.21	34.82	26.89	26.73	27.17	25.41	27.28	8.69	7.56	11.41	13.04	20.16
Total Debt/Equity (%)	86.27	44.68	24.27	60.22	88.2	56.63	55.44	49.55	45.41	52.08	15.46	11.17	16.76	19.45	30.8
Total Debt/Capital (%)	-1,266.22	-254.71	83.81	50.67	53.76	41.93	37.12	34.96	33.37	37.1	11.24	7.39	10.97	12.54	17.72
Total Debt/Total Assets (%)	28.42	19.27	13.46	26.34	34.92	28.14	27.66	28.08	26.32	27.63	9.23	8.1	11.91	13.47	20.5
Net Debt to Equity	29.69	-3	-29.56	18.67	66.22	-5.98	39.53	32.63	25.81	8.82	-42.43	-33.49	-7.48	-5.24	14.46
Net Debt/Capital (%)	-46.83	4.62	120.04	24.06	46.53	-8.21	29.56	25.07	20.35	8.16	-44.6	-28.46	-5.39	-3.75	8.66
EBITDA	31	60	150	173	121	200	250	79	73	82	351	282	80	80	53
EBITDA-CapEx	11	46	108	110	92	169	215	60	41	69	329	257	-10	-11	31
Operating Income (Loss)	18	45	133	151	90	159	200	27	44	50	320	252	48	47	21

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.43	0.64	1.18	0.74	0.52	1.56	0.41	0.49	0.37	0.96	0.9	1.36	0.61	0.64	0.38
Current Ratio	1.66	2.29	2.78	2.58	2.43	2.72	2.11	2.69	2.68	3.03	2.13	3.68	3.35	3.04	4.16
Quick Ratio	1	1.22	1.77	1.4	1.2	2.05	1.19	1.09	1.15	1.44	1.44	2.08	1.26	1.29	1.22
CFO/Avg Current Liab	0.35	0.36	1.18	1.03	1.32	1.66	0.9	0.49	0.54	0.79	2.47	1.28	0.19	1.18	-0.09
Common Equity/Total Assets	-30.66	-26.83	2.6	25.64	30.03	38.96	46.86	52.24	52.56	46.85	72.86	101.46	96.67	93.95	95.19
Long-Term Debt/Equity (%)	53.92	44.31	24.03	59.94	87.94	54.11	53.58	47.96	43.84	51.42	14.56	10.44	16.05	18.83	30.29
Long-Term Debt/Capital (%)	-791.39	-252.6	82.96	50.43	53.61	40.07	35.87	33.83	32.21	36.63	10.58	6.9	10.51	12.14	17.42
Long-Term Debt/Total Assets (%)	17.76	19.11	13.32	26.21	34.82	26.89	26.73	27.17	25.41	27.28	8.69	7.56	11.41	13.04	20.16
Total Debt/Equity (%)	86.27	44.68	24.27	60.22	88.2	56.63	55.44	49.55	45.41	52.08	15.46	11.17	16.76	19.45	30.8
Total Debt/Capital (%)	-1,266.22	-254.71	83.81	50.67	53.76	41.93	37.12	34.96	33.37	37.1	11.24	7.39	10.97	12.54	17.72
Total Debt/Total Assets (%)	28.42	19.27	13.46	26.34	34.92	28.14	27.66	28.08	26.32	27.63	9.23	8.1	11.91	13.47	20.5
CFO/Total Liabilities	20.32	25.11	67.33	42.02	38.71	54.08	31.3	19.09	17.71	27.67	175.18	100.62	10.68	60.13	-3.86
CFO/CapEx	1.92	2.68	2.36	1.44	4.02	5.45	3.48	3.24	1.84	7.36	13.9	5.68	0.19	1.17	-0.33
Altman's Z-Score	1.85	3.75	5.35	5.5	4.59	5.38	6.05	4.02	3.54	2.73	9.29	8.22	5.09	5.57	4.23

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	4.95	7.29	12.45	12.29	9.93	12.79	10.87	7.35	6.8	7.27	16.51	13.28	8.13	9.38	8.26
Days Sales Outstanding	73.7	50.08	29.32	29.7	36.76	28.55	33.59	49.66	53.68	50.24	22.11	27.48	44.88	38.9	44.19
Inventory Turnover	4.64	5.31	6.25	4.91	4.36	5.55	5.04	2.88	2.11	2.72	6.7	4.55	2.07	2.24	1.98
Days Inventory Outstanding	78.71	68.75	58.44	74.36	83.67	65.79	72.41	126.54	172.73	134.15	54.5	80.2	176.36	163.12	184
Accounts Payable Turnover	6.88	8.37	12.61	11.36	9.91	11.04	11.76	9.94	9.98	9.06	13.17	12.54	10.93	9.19	10.97
Accounts Payable Turnover Days	53.08	43.61	28.96	32.14	36.83	33.05	31.04	36.72	36.56	40.27	27.71	29.11	33.4	39.74	33.28
Cash Conversion Cycle	99.33	75.22	58.8	71.92	83.6	61.28	74.96	139.48	189.86	144.11	48.9	78.57	187.83	162.28	194.91
Inventory to Cash Days	-5	-18.66	-29.11	-44.66	-46.9	-37.24	-38.82	-76.88	-119.05	-83.91	-32.39	-52.71	-131.48	-124.21	-139.81
Inventories	52	55	63	87	77	78	132	153	164	104	78	137	177	160	190
Raw Materials	9	4	4	5	7	9	10	12	12	7	7	11	11	13	13
Work In Process	8	8	8	8	7	9	9	8	8	7	8	5	7	8	6
Finished Goods	34	43	51	74	63	59	112	134	144	90	63	121	159	140	171
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	147	361	386	608	542	808	837	402	362	351	843	585	516	753	424
- Cash & Cash Equivalents	52	53	97	69	42	191	62	49	41	125	113	121	54	61	25
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	80	50	44	100	171	174	218	209	202	202	41	40	64	78	115
Enterprise Value	175	358	333	640	671	791	993	562	523	428	771	504	527	770	513
Total Capital	-6	-20	53	198	319	416	587	598	605	543	366	545	588	620	647
Total Debt/Capital (%)	-1,266.22	-254.71	83.81	50.67	53.76	41.93	37.12	34.96	33.37	37.1	11.24	7.39	10.97	12.54	17.72
Total Debt / EV	0.46	0.14	0.13	0.16	0.26	0.22	0.22	0.37	0.39	0.47	0.05	0.08	0.12	0.1	0.22
EV/Sales	0.51	0.87	0.57	1.02	1.22	1.09	1.1	0.93	1.09	0.81	0.73	0.58	1.1	1.44	1.08
EV/EBITDA	5.64	5.93	2.23	3.71	5.57	3.96	3.97	7.1	7.21	5.2	2.2	1.79	6.6	9.67	9.65
EV/EBIT	9.83	7.97	2.51	4.24	7.49	4.98	4.97	20.78	12.02	8.51	2.41	2	10.89	16.35	24.03
EV/Cash Flow to Firm	4.19	8.43	3.27	6.52	5.51	4.46	7.68	7.55	8.14	4.16	2.42	3.62	31.01	7.11	- -
EV/Free Cash Flow to Firm	2.83	6.35	2.33	3.98	4.47	3.8	6.03	6.01	5.49	3.7	2.26	3.08	4.93	3.86	28.86
Diluted Market Cap	147	375	395	623	554	825	851	407	367	351	855	591	519	760	428
Diluted Enterprise Value	175	372	342	655	684	809	1,008	568	528	428	783	510	530	777	518
EV per Share	2.88	5.52	5.11	10.91	12.43	14.44	17.76	10.4	9.6	7.78	14.12	10.68	11.49	16.81	11.54
TTM Sales	342	412	588	627	552	723	903	607	481	530	1,059	864	479	536	475
TTM EBITDA	31	60	150	173	121	200	250	79	73	82	351	282	80	80	53
TTM Operating Income	18	45	133	151	90	159	200	27	44	50	320	252	48	47	21
TTM Cash Flow to Firm	42	42	102	98	122	177	129	74	64	103	318	139	17	108	-4
TTM Free Cash Flow to Firm	62	56	143	161	150	208	165	93	95	116	341	164	107	199	18

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	2.52	7.3	2.83	4.07	3.87	4.14	5.35	5.05	4.16	3.27	2.53	3.65	4.87	3.85	29.39
EV/EBIT	9.83	7.97	2.51	4.24	7.49	4.98	4.97	20.78	12.02	8.51	2.41	2	10.89	16.35	24.03
Enterprise Value	175	358	333	640	671	791	993	562	523	428	771	504	527	770	513
Low Price	2.51	1.76	4.66	6.55	6.94	11.23	13.44	6.39	6.94	4.16	6.85	13.67	8.21	10.38	8.38
EV/Sales	0.51	0.87	0.57	1.02	1.22	1.09	1.1	0.93	1.09	0.81	0.73	0.58	1.1	1.44	1.08
EV/EBITDA	5.64	5.93	2.23	3.71	5.57	3.96	3.97	7.1	7.21	5.2	2.2	1.79	6.6	9.67	9.65
Price/Earnings	- -	22.41	4.91	6.81	10.93	8.6	6.54	19.96	19.68	- -	3.35	3.01	13.99	18.21	31.58
Price/Earnings Average	-1.9	11.33	5.01	5.24	9.1	7.68	7.03	28.45	24.17	-5.13	3.13	4.42	13.71	14.39	41.66
Price/Earnings High	-2.65	26.59	7.15	7.92	14.44	13.63	10.48	50.52	36.25	-7.54	5.11	9.62	20.79	19.99	57.16
Price/Earnings Low	-1.84	7.08	3.86	4.3	7.55	6.55	5.88	17.16	20.54	-3.74	1.48	3.32	10.21	11.5	27.77
Price/Book Value	-1.71	-5.14	45.44	6.22	3.68	3.35	2.27	1.03	0.9	1.03	2.59	1.16	0.99	1.39	0.8
Price/Book Value Average	-1.82	-2.6	46.34	4.78	3.06	2.99	2.44	1.47	1.1	0.92	2.43	1.7	0.97	1.1	1.05
Price/Book Value High	-2.54	-6.1	66.21	7.23	4.86	5.3	3.63	2.61	1.66	1.35	3.96	3.71	1.46	1.52	1.44
Price/Book Value Low	-1.76	-1.62	35.71	3.93	2.54	2.55	2.04	0.89	0.94	0.67	1.15	1.28	0.72	0.88	0.7
Price/Tangible Book Value	1.75	3.33	2.18	3.72	12	4.79	10.1	3.4	2.13	0.97	3.47	1.73	1.42	1.99	1.21
Price/Tangible Book Value Average	1.87	1.68	2.22	2.86	9.99	4.28	10.86	4.85	2.61	0.86	3.25	2.54	1.4	1.57	1.59
Price/Tangible Book Value High	2.61	3.95	3.17	4.33	15.86	7.6	16.18	8.61	3.92	1.27	5.3	5.54	2.12	2.19	2.19
Price/Tangible Book Value Low	1.81	1.05	1.71	2.35	8.29	3.65	9.08	2.93	2.22	0.63	1.54	1.91	1.04	1.26	1.06
Price/Sales	0.43	0.88	0.66	0.97	0.98	1.12	0.93	0.66	0.75	0.66	0.8	0.68	1.08	1.41	0.89
Price/Sales Average	0.46	0.44	0.67	0.75	0.82	1	1	0.94	0.92	0.59	0.74	0.99	1.05	1.11	1.18
Price/Sales High	0.64	1.04	0.96	1.13	1.3	1.77	1.48	1.68	1.39	0.87	1.22	2.16	1.6	1.54	1.62
Price/Sales Low	0.44	0.28	0.52	0.61	0.68	0.85	0.83	0.57	0.79	0.43	0.35	0.75	0.79	0.89	0.79
Price/Cash Flow	3.84	9.66	3.94	6.74	4.72	4.79	6.77	6.52	6.35	3.71	2.67	4.24	30.82	7.06	-58.69
Price/Cash Flow Average	4.11	4.88	4.02	5.19	3.93	4.28	7.28	9.29	7.79	3.32	2.5	6.23	30.21	5.57	-77.44
Price/Cash Flow High	5.72	11.46	5.74	7.84	6.24	7.6	10.84	16.5	11.69	4.88	4.08	13.57	45.81	7.75	-106.24
Price/Cash Flow Low	3.97	3.05	3.1	4.26	3.26	3.65	6.08	5.6	6.62	2.41	1.19	4.68	22.49	4.46	-51.61
Price/Free Cash Flow Average	2.7	3.69	2.89	3.13	3.22	3.7	5.75	7.2	5.11	2.92	2.37	5.35	4.77	3.04	38.78
Price/Free Cash Flow High	3.76	8.67	4.12	4.74	5.11	6.56	8.57	12.78	7.67	4.29	3.86	11.66	7.24	4.22	53.2
Price/Free Cash Flow Low	2.61	2.31	2.22	2.57	2.67	3.15	4.81	4.34	4.34	2.13	1.12	4.03	3.55	2.43	25.84
EV/Sales Average	0.54	0.44	0.58	0.8	1.05	0.98	1.17	1.21	1.26	0.74	0.68	0.9	1.08	1.14	1.37
EV/Sales High	0.72	1.03	0.87	1.18	1.53	1.75	1.66	1.94	1.72	1.02	1.15	2.07	1.62	1.57	1.81
EV/Sales Low	0.53	0.27	0.43	0.66	0.91	0.83	1.01	0.83	1.12	0.58	0.29	0.65	0.81	0.92	0.97
EV/EBITDA Average	5.97	2.97	2.28	2.89	4.82	3.53	4.22	9.26	8.35	4.75	2.04	2.76	6.47	7.68	12.19
EV/EBITDA High	7.96	7.04	3.41	4.28	7.02	6.32	5.98	14.88	11.41	6.54	3.46	6.35	9.74	10.59	16.1
EV/EBITDA Low	5.79	1.84	1.67	2.41	4.18	2.99	3.63	6.39	7.43	3.71	0.86	2.01	4.85	6.18	8.69
EV/EBIT Average	10.4	4	2.57	3.31	6.48	4.44	5.28	27.1	13.92	7.77	2.24	3.09	10.68	13	30.36
EV/EBIT High	13.88	9.47	3.84	4.9	9.43	7.96	7.48	43.52	19.03	10.7	3.8	7.11	16.08	17.92	40.1
EV/EBIT Low	10.1	2.47	1.89	2.75	5.62	3.77	4.54	18.7	12.38	6.07	0.95	2.25	8.01	10.46	21.63
Last Price	2.43	5.57	5.93	10.37	10.04	14.75	14.96	7.43	6.65	6.39	15.44	12.38	11.25	16.44	9.53
High Price	3.62	6.61	8.64	12.06	13.27	23.38	23.96	18.81	12.25	8.4	23.57	39.61	16.72	18.05	17.25
Enterprise Value Average	185	180	341	499	580	705	1,056	733	606	391	717	778	516	612	649
Enterprise Value High	247	425	510	739	846	1,263	1,497	1,177	828	538	1,215	1,790	777	844	857
Enterprise Value Low	180	111	250	416	504	598	908	506	539	305	302	565	387	492	462

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	65	65	64	55	54	56	54	54	55	55	50	46	46	46	44
Diluted Weighted Avg Shares	61	67	67	60	55	56	57	55	55	55	55	48	46	46	45
Basic Weighted Avg Shares	61	65	65	59	54	55	56	54	54	55	55	47	46	46	44
Revenue per Share	5.65	6.36	9.02	10.68	10.22	13.2	16.15	11.23	8.83	9.63	19.39	18.3	10.45	11.7	10.67
EBITDA per Share	0.51	0.93	2.3	2.94	2.23	3.65	4.47	1.46	1.33	1.5	6.43	5.97	1.74	1.74	1.2
Operating Income per Share	0.29	0.69	2.04	2.57	1.66	2.9	3.57	0.5	0.8	0.91	5.85	5.33	1.05	1.03	0.48
Basic EPS, GAAP	-1.37	0.25	1.21	1.52	0.92	1.72	2.29	0.37	0.34	-1.11	4.62	4.12	0.8	0.9	0.3
Basic EPS from Cont Ops	0.13	0.41	1.25	1.51	0.92	1.72	2.29	0.37	0.46	0.5	4.46	4.12	0.8	0.9	0.3
Diluted EPS, GAAP	-1.37	0.24	1.18	1.49	0.9	1.68	2.25	0.37	0.33	-1.11	4.55	4.08	0.8	0.89	0.3
Diluted EPS from Cont Ops	0.13	0.39	1.22	1.47	0.9	1.68	2.25	0.37	0.45	0.5	4.4	4.08	0.8	0.89	0.3
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.15	0.32	0.4	0.48	0.52
Cash Flow per Share	0.63	0.58	1.51	1.54	2.13	3.08	2.21	1.14	1.05	1.72	5.77	2.92	0.36	2.33	-0.16
Free Cash Flow per Basic Share	0.3	0.36	0.87	0.47	1.6	2.51	1.57	0.79	0.48	1.49	5.36	2.4	-1.6	0.34	-0.65
Cash & Equivalents per Share	0.87	0.82	1.49	1.17	0.78	3.49	1.1	0.9	0.75	2.27	2.07	2.56	1.17	1.33	0.57
Book Value per Share	-1.42	-1.08	0.13	1.67	2.73	4.41	6.6	7.2	7.4	6.22	5.96	10.69	11.41	11.84	11.97
Tangible Book Value per Share	1.39	1.67	2.72	2.79	0.84	3.08	1.48	2.18	3.13	6.62	4.45	7.15	7.9	8.26	7.89

Smith & Wesson Brands, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)