Smith & Wesson BRANDS, Inc. (SWBI) intrinsic value & 10-year financials
Smith & Wesson BRANDS, Inc. (SWBI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 4.6% a year to $474.7M, with an average return on invested capital of 27.6%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $14.14
- Market cap
- $635.3K
- Revenue (FY2025)
- $474.7M
- Revenue growth (10-yr CAGR)
- -4.6%
- ROIC (10-yr avg)
- 27.6%
- Free cash flow (FY2025)
- -$28.8M
SWBI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $474.7M | $13.4M | $0.30 | -$28.8M | 5.0% | 4.4% |
| FY2024 | $535.8M | $39.6M | $0.86 | $16.0M | 8.4% | 9.7% |
| FY2023 | $479.2M | $36.9M | $0.80 | -$72.8M | 10.1% | 11.4% |
| FY2022 | $864.1M | $194.5M | $4.08 | $113.8M | 29.1% | 81.6% |
| FY2021 | $1.1B | $252.0M | $4.55 | $293.3M | 30.2% | 97.8% |
| FY2020 | $678.4M | -$61.2M | -$1.11 | $81.0M | -7.2% | -12.9% |
| FY2019 | $638.3M | $18.4M | $0.33 | $23.5M | 6.0% | 5.4% |
| FY2018 | $606.9M | $20.1M | $0.37 | $43.2M | 4.5% | 6.6% |
| FY2017 | $903.2M | $127.9M | $2.25 | $88.7M | 22.1% | 38.1% |
| FY2016 | $722.9M | $94.0M | $1.68 | $139.1M | 21.9% | 33.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SMITH & WESSON BRANDS, INC. is facing top-line stagnation, with revenue contracting over the decade.
SMITH & WESSON BRANDS, INC. has earned high returns on invested capital, averaging 27.6% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, SMITH & WESSON BRANDS, INC. shows that management has aggressively returned capital to shareholders by retiring 99.9% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, SMITH & WESSON BRANDS, INC. is modeled at -17.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-6.82 per share.