What are Sportsman's Warehouse's profit margins?

Sportsman's Warehouse (SPWH) runs a 30.7% gross margin and a -2.9% operating margin, with a -4.2% net margin.

Where do Sportsman's Warehouse's ratios come from?

Every ratio is computed from Sportsman's Warehouse's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Sportsman's Warehouse SPWH Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	30.7%-0.2pp	30.9%-0.5pp	31.4%+0.3pp	31.2%+0.2pp	31%0.0pp
Net margin	-4.2%0.0pp	-4.1%-1.1pp	-3.1%0.0pp	-3.1%-0.1pp	-3%-0.3pp
EBITDA margin	0.2%0.0pp	0.1%-1.8pp	1.9%+0.1pp	1.9%+0.1pp	1.8%0.0pp
Free cash flow margin	1.1%+0.4pp	0.7%+4.0pp	-3.3%—	——	——
Returns
Return on equity	-26.5%-2.9pp	-23.6%-7.2pp	-16.4%+0.2pp	-16.6%-0.9pp	-15.7%-2.5pp
Return on assets	-5.7%+0.5pp	-6.2%-2.3pp	-3.9%+0.1pp	-4%-0.1pp	-3.9%-0.1pp
Return on invested capital	-6.3%0.0pp	-6.3%-3.8pp	-2.6%+0.1pp	-2.7%+0.3pp	-3%+0.1pp
Efficiency
Asset turnover	1.4×-0.1×	1.5×+0.2×	1.3×0.0×	1.3×0.0×	1.3×-0.1×
Liquidity
Current ratio	1.2×-0.2×	1.4×+0.2×	1.2×0.0×	1.2×0.0×	1.2×-0.1×
Quick ratio	1.2×-0.2×	1.4×+0.2×	1.2×0.0×	1.2×0.0×	1.2×-0.1×
Cash ratio	0×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Leverage
Debt-to-equity	2.3×+0.2×	2×+0.2×	1.8×-0.1×	1.9×+0.1×	1.8×+0.2×
Debt-to-assets	0.5×0.0×	0.5×+0.1×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Net debt / EBITDA	185.5×-31.5×	217.1×+201×	16.3×-1.1×	17.4×0.0×	17.4×-0.1×
Interest coverage	-2.7×0.0×	-2.7×-1.6×	-1.1×+0.2×	-1.3×+0.2×	-1.5×+0.1×
Per Share
Book value per share	$4.31-12.2%	$4.91-8.2%	$5.35-1.7%	$5.44-3.5%	$5.64-9.6%
Valuation
Market capitalization	$51.9M-59.8%	$45.41M-47.0%	$85.7M-16.5%	$102.69M+34.8%	$76.19M+46.5%
Enterprise value	$427.07M-16.3%	$423.09M-10.1%	$470.64M-5.9%	$500.29M+8.9%	$459.21M+6.8%
Price / sales	0×-0.1×	0×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Price / book	0.3×-0.3×	0.2×-0.2×	0.4×-0.1×	0.5×+0.1×	0.4×+0.1×
EV / EBITDA	210.6×+188×	243.2×+223×	19.9×-2.0×	21.9×+1.0×	20.9×+0.9×
EV / sales	0.4×-0.1×	0.3×0.0×	0.4×0.0×	0.4×0.0×	0.4×0.0×
Free cash flow yield	26.3%+31.4pp	19.6%+65.9pp	-46.3%—	——	——
Earnings yield	-99.9%-71.1pp	-110.2%-67.0pp	-43.2%-6.8pp	-36.4%+11.1pp	-47.6%+16.0pp

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Questions, answered.

What are Sportsman's Warehouse's profit margins?: Sportsman's Warehouse (SPWH) runs a 30.7% gross margin and a -2.9% operating margin, with a -4.2% net margin.
Where do Sportsman's Warehouse's ratios come from?: Every ratio is computed from Sportsman's Warehouse's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.