Sportsman's Warehouse Holdings Inc. Common Stock (SPWH)

FairStock Score: 34/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable businesses bought at a discount to intrinsic value. Sportsman's Warehouse sells outdoor gear in a competitive specialty-retail market, and I see little moat. For fiscal 2025, ended 2026-01-31, revenue was $1.2B and net loss was $50.1M, or EPS -$1.30. In fiscal Q2 2026, ended 2026-08-01, revenue was $295.6M and net loss was $4.4M, or EPS -$0.11. That quarter was better than fiscal Q2 2025, when revenue was $293.9M and net loss was $7.1M, but fiscal Q1 2026 still lost $21.8M. Revenue growth is essentially flat. The balance sheet is stretched: FairStock's D/E is 3.11, Altman Z-Score 0.60, Piotroski 3/9, ROE -25.76%, and ROCE -0.78%. The stock at $1.11 on 2026-10-13 has a $43.4M market cap. FairStock P/B is 0.26, so it looks cheap against book, and TTM FCF is $31.7M, a 73.0% FCF yield. But EV/EBITDA of 196.98 and negative earnings make that cash flow hard to trust as durable. A low price to book with heavy debt and continuing losses is not the same as margin of safety. FairStock classifies it as a TURNAROUND — loss in latest year after earlier profits. I would want evidence of sustainable positive earnings and debt reduction before calling this a sound value. For now, it is a speculative asset play, not a fortress.

In plain English: Sportsman's Warehouse sells camping, fishing, and outdoor gear. The company has been losing money, sales are roughly flat, and it carries a lot of debt compared with the value of its business. The stock price is very low compared with its asset value, but the weak finances make it hard to call it a safe bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-08-01) · fiscal Q1 2026 10-Q (period ended 2026-05-02) · fiscal Q3 2025 10-Q (period ended 2025-11-01) · fiscal Q2 2025 10-Q (period ended 2025-08-02) · FY2025 10-K (period ended 2026-01-31) · FY2024 10-K (period ended 2025-02-01) · FY2023 10-K (period ended 2024-02-03)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer