What is Sportsman's Warehouse's net debt?

Sportsman's Warehouse (SPWH) reported net debt of $375.17M in Q1 2026.

How has Sportsman's Warehouse's net debt changed year-over-year?

Sportsman's Warehouse's net debt decreased by 2.0% year-over-year, from $383.02M to $375.17M.

What is the long-term trend for Sportsman's Warehouse's net debt?

Over 5 years (2020 to 2025), Sportsman's Warehouse's net debt has grown at a 13.7% compound annual growth rate (CAGR), from $198.79M to $377.69M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Sportsman's Warehouse SPWH Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$256.1M+2.8%

Gross profit$75.8M+0.2%

Operating income-$18.1M+7.7%

Net income-$21.8M-2.8%

EPS (diluted)-$0.560.0%

Balance sheet

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Cash & equivalents$2.1M-42.3%

Total debt$377.2M-2.4%

Total equity$167.2M-22.3%

Total assets$838.0M-9.9%

Cash flow

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Operating cash flow-$55.4M+8.1%

CapEx$4.2M+11.2%

Free cash flow-$59.6M+6.9%

Valuation

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Market cap$51.9M-59.8%

Enterprise value$427.07M-16.3%

P/S0×-0.1×

Profitability

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Gross margin30.7%-0.2pp

Operating margin-2.9%—

Net margin-4.2%+2.6pp

FCF margin1.1%+0.8pp

Returns & leverage

See full

Return on equity-26.5%+59.3pp

Debt / equity2.3×+0.5×

Current ratio1.2×0.0×

Where this comes from

Calculated from Sportsman's Warehouse’s reported figures.

$377.2Mtotal debt−$2.1Mcash and equivalents=$375.17M

The official record: Sportsman's Warehouse’s 10-Q, filed June 2, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Sportsman's Warehouse's net debt?: Sportsman's Warehouse (SPWH) reported net debt of $375.17M in Q1 2026.
How has Sportsman's Warehouse's net debt changed year-over-year?: Sportsman's Warehouse's net debt decreased by 2.0% year-over-year, from $383.02M to $375.17M.
What is the long-term trend for Sportsman's Warehouse's net debt?: Over 5 years (2020 to 2025), Sportsman's Warehouse's net debt has grown at a 13.7% compound annual growth rate (CAGR), from $198.79M to $377.69M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.