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

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Gross margin	30.7%-0.2pp	30.9%0.0pp	31.4%+1.6pp	31.2%+1.7pp	31%+1.1pp
Operating margin	-2.9%—	-3.1%—	——	——	——
Net margin	-4.2%-1.2pp	-4.1%-1.4pp	-3.1%-0.4pp	-3.1%-0.4pp	-3%-0.5pp
EBITDA margin	0.2%-1.7pp	0.1%-1.7pp	1.9%+1.0pp	1.9%+0.9pp	1.8%+0.8pp
Free cash flow margin	1.1%+1.6pp	0.7%-0.9pp	-3.3%—	-4.5%—	-0.5%—
Returns
Return on equity	-26.5%-10.8pp	-23.6%-10.4pp	-16.4%-3.5pp	-16.6%-3.4pp	-15.7%-3.7pp
Return on assets	-5.7%-1.8pp	-6.2%-2.4pp	-3.9%-0.5pp	-4%-0.5pp	-3.9%-0.6pp
Return on invested capital	-6.3%-3.3pp	-6.3%-3.3pp	-2.6%+2.2pp	-2.7%+2.1pp	-3%+1.4pp
Efficiency
Asset turnover	1.4×+0.1×	1.5×+0.1×	1.3×0.0×	1.3×0.0×	1.3×0.0×
Liquidity
Current ratio	1.2×0.0×	1.4×+0.1×	1.2×0.0×	1.2×0.0×	1.2×0.0×
Quick ratio	1.2×0.0×	1.4×+0.1×	1.2×0.0×	1.2×0.0×	1.2×0.0×
Cash ratio	0×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Leverage
Debt-to-equity	2.3×+0.5×	2×+0.4×	1.8×+0.3×	1.9×+0.3×	1.8×+0.3×
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×+168×	217.1×+200×	16.3×-17.5×	17.4×-15.1×	17.4×-9.2×
Interest coverage	-2.7×-1.2×	-2.7×-1.2×	-1.1×+1.2×	-1.3×+0.9×	-1.5×+0.5×
Per Share
Book value per share	$4.31-23.5%	$4.91-21.2%	$5.35-16.8%	$5.44-15.4%	$5.64-14.4%
Valuation
Market capitalization	$51.9M-59.8%	$45.41M-12.7%	$85.7M+6.1%	$102.69M+30.2%	$76.19M-46.8%
Enterprise value	$427.07M-16.3%	$423.09M-1.6%	$470.64M+1.3%	$500.29M+6.8%	$459.21M-9.1%
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×	0.2×0.0×	0.4×+0.1×	0.5×+0.2×	0.4×-0.2×
EV / EBITDA	210.6×+188×	243.2×+223×	19.9×-21.0×	21.9×-17.2×	20.9×-16.3×
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%-18.1pp	-46.3%—	-53.1%—	-8.5%—
Earnings yield	-99.9%-71.1pp	-110.2%-46.7pp	-43.2%-2.3pp	-36.4%+6.7pp	-47.6%-25.6pp

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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.