Sportsman's Warehouse Holdings, Inc.
$1.45
-9.9%Sportsman's Warehouse Holdings, Inc., together with its subsidiaries, operates as an outdoor sporting goods retailer in the United States. It offers camping products, such as backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents, and tools; and apparel products, including camouflage, jackets, hats, outerwear, sportswear, technical gear, and work wear. The company also provides fishing products comprising bait, electronics, fishing rods, flotation items, fly fishing products, lines, lures, reels, tackles, and small boats; and foot wear products consisting of hiking and work boots, socks, sport sandals, technical footwear, trial and casual shoes, and waders. In addition, it offers hunting and shooting products, such as ammunition, archery items, ATV accessories, blinds and tree stands, decoys, firearms, firearms safety and storage products, reloading equipment, and shooting gear products; and optics, electronics, and accessories, including gift items, GPS devices, knives, lighting, optics, and two-way radios. Further, the company's stores provide archery technician services, fishing-reel line winding, bore sighting and scope mounting, and cleaning services, as well as issues hunting and fishing licenses. Additionally, it offers various private label and special make-up offerings under the Rustic Ridge, Killik, Vital Impact, Yukon Gold, Lost Creek, and Sportsman's Warehouse brands. As of May 26, 2022, the company operated through 126 stores. Sportsman's Warehouse Holdings, Inc. was founded in 1986 and is headquartered in West Jordan, Utah.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -1.1).
Valuation inputs: P/E -1.1, earnings yield N/A, momentum -9.9%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE -26.6%, ROIC -2.2%).
Profitability stack: net margin -4.1%, ROE -26.6%, ROIC -2.2%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile is elevated and scenario stress-testing is essential.
Risk factors: liabilities/assets +75.3%, momentum -9.9%, net margin -4.1%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Sportsman's Warehouse Holdings, Inc. Market vs Earnings Trajectory
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Sportsman's Warehouse Holdings, Inc. Fair Value Envelope
Sportsman's Warehouse Holdings, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.
Operating Margin
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
Sportsman's Warehouse Holdings, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
CapEx Intensity
Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.
FCF Growth Trend
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash Flow Quality Insight
Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.
Sportsman's Warehouse Holdings, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Acceptable liquidity, but monitor closely. Current assets just barely cover current liabilities.
Debt-to-Equity Ratio
Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.
Working Capital
Positive working capital, but relatively tight. The company should monitor cash flow carefully.
Asset Composition
Balanced asset mix between current and non-current assets, typical of many stable businesses.
Sportsman's Warehouse Holdings, Inc. Street Expectations Map
Wall Street analysts project that SPWH stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 2.13, with estimates ranging from a low of 2.00 to a high of 2.25.
The consensus 1-year price target stands at 2.13, with estimates ranging from a low of 2.00 to a high of 2.25.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Analyst Conviction
Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.
Market Sentiment Insight
Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.
Sportsman's Warehouse Holdings, Inc. Insider Positioning
During the last 12 months, insiders have purchased $678K and sold $118K worth of SPWH shares, resulting in $560K of net buying activity.
3 Months
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3-6 Months
0
0.00
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6-9 Months
143.3K
390.61K
47.9K
118.43K
+272K
+$272K
9-12 Months
104.0K
287.35K
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0.00
+287K
+$287K
Top Buyers
Stone Paul
Director, Officer: President And Ceo
$275K
Mcbee Richard D
Director
$263K
Tucci Michael D
Director
$141K
Top Sellers
Stone Paul
Director, Officer: President And Ceo
$118K
Insider Activity Analysis
Net Insider Sentiment
Strong bullish signal with $560K net buying. Insiders are aggressively accumulating shares, suggesting significant confidence in future prospects.
Buy/Sell Ratio
Exceptional buy/sell ratio. Buying dramatically outweighs selling—one of the strongest possible insider signals.
Insider Participation
3 insider buyers vs. 1 sellers. Broad-based buying across management team suggests widespread confidence.
Insider Activity Insight
Compelling insider conviction: The combination of strong buy/sell ratio and multiple buyers suggests insiders see attractive risk/reward. Consider this alongside fundamental analysis for confirmation.
No Dividend Yield Data
SPWH has not reported any dividend yield values in the available annual periods.
spwh Dividend History
Learning Layer
Related Guides
Build conviction on SPWH by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.