Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Sportsman's Warehouse HoldingsSPWH -0.83%45 Debt-to-Equity is 2.89 as of Apr. 2026, which is 27% above its 10-year median of 2.28. GuruFocus rates SPWH with a GF Score™ of 45/100 and a GF Value™ of $2.64 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 1,015 Retail - Cyclical companies, Sportsman's Warehouse Holdings ranks worse than 91.63% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Sportsman's Warehouse Holdings's Debt-to-Equity or its related term are showing as below:
SPWH'
s Debt-to-Equity Range Over the Past 10 Years
Min: 1.09 Med: 2.28 Max: 28.15
Current: 2.89
During the past 13 years, the highest Debt-to-Equity Ratio of Sportsman's Warehouse Holdings was 28.15. The lowest was 1.09. And the median was 2.28.
SPWH's Debt-to-Equity is ranked worse than 91.63% of 1015
companies
in the Retail - Cyclical industry
Industry Median: 0.56
vs SPWH: 2.89
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Sportsman's Warehouse Holdings Debt-to-Equity Related Terms
Sportsman's Warehouse Holdings Debt-to-Equity Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
SPWH vs NPT, ABLV, PTLE: Debt-to-Equity Comparison
For the Specialty Retail subindustry, Sportsman's Warehouse Holdings's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Sportsman's Warehouse Holdings Debt-to-Equity vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Sportsman's Warehouse Holdings's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Sportsman's Warehouse Holdings's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sportsman's Warehouse Holdings (SPWH) has a Debt-to-Equity of 2.89 as of Apr. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Sportsman's Warehouse Holdings and its competitors. This is 27% above median its historical median of 2.28. Over the past decade, Sportsman's Warehouse Holdings' Debt-to-Equity has ranged from 1.09 to 28.15. According to the industry distribution chart, Sportsman's Warehouse Holdings ranks #930 out of 1015 companies in the Retail - Cyclical industry, placing it in the top 91.6%.
Is Sportsman's Warehouse Holdings' Debt-to-Equity too high?
Sportsman's Warehouse Holdings' current Debt-to-Equity of 2.89 is 27% above median its 10-year median of 2.28. Over the past 10 years, this metric has ranged from a low of 1.09 to a high of 28.15. The Retail - Cyclical industry median Debt-to-Equity is 0.56. Sportsman's Warehouse Holdings' value of 2.89 is 416.1% above this industry median. Based on the distribution chart, Sportsman's Warehouse Holdings ranks #930 out of 1015 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Sportsman's Warehouse Holdings has a GF Score™ of 45/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Sportsman's Warehouse Holdings' Debt-to-Equity compare to NPT and ABLV?
According to the Retail - Cyclical industry distribution chart, Sportsman's Warehouse Holdings ranks #930 out of 1015 companies for Debt-to-Equity. This places Sportsman's Warehouse Holdings in the lower half of its industry. The industry median Debt-to-Equity is 0.56. Sportsman's Warehouse Holdings' value of 2.89 is 416.1% above this benchmark. Historically, Sportsman's Warehouse Holdings' own Debt-to-Equity has ranged from 1.09 to 28.15 over the past decade. While the company's 10-year median is 2.28 vs. the industry median of 0.56, Sportsman's Warehouse Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Retail - Cyclical company?
The median Debt-to-Equity among Retail - Cyclical companies is 0.56, based on 1,015 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Sportsman's Warehouse Holdings's current Debt-to-Equity of 2.89 is 416.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Sportsman's Warehouse Holdings and its competitors. For the Retail - Cyclical industry, the median Debt-to-Equity is 0.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sportsman's Warehouse Holdings's current Debt-to-Equity is 2.89, which is 27% above median its own 10-year median of 2.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sportsman's Warehouse Holdings stock overvalued right now?
Based on GuruFocus' analysis, Sportsman's Warehouse Holdings (SPWH) is currently considered Possible Value Trap. The stock's GF Value™ is $2.64, compared to a current price of $1.19 — trading 54.8% below its estimated fair value. The current Debt-to-Equity is 2.89, which is 27% above median its 10-year median of 2.28 and 416.1% above the Retail - Cyclical industry median of 0.56. Sportsman's Warehouse Holdings' overall GF Score™ is 45/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Sportsman's Warehouse Holdings (SPWH), the current Debt-to-Equity is 2.89 as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Sportsman's Warehouse Holdings (SPWH) Overvalued in 2026?
Based on GuruFocus' analysis, Sportsman's Warehouse Holdings stock appears to be undervalued.
The current stock price of $1.19 is trading 54.8% below its estimated GF Value™ of $2.64.
GuruFocus considers Sportsman's Warehouse Holdings to be Possible Value Trap.
Key valuation signals for SPWH:
Debt-to-Equity: 2.89 (27% above median its 10-year median of 2.28)
GF Value™: $2.64 vs. price of $1.19 (54.8% below fair value)
Industry Position: 416.1% above the Retail - Cyclical median (#930 of 1015)
No single metric tells the full story. See the SPWH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sportsman's Warehouse Holdings Business Description
Sportsman's Warehouse Holdings Inc together with its subsidiaries operates as an outdoor sporting goods retailer. It provides a one-stop shopping experience that equips customers with the right quality, brand name hunting, shooting, fishing, and camping gear to maximize enjoyment of the outdoors. The company offers products in the categories of Camping, Apparel, Fishing, Footwear, Hunting and shooting, and Optics, Electronics, Accessories, and Other products. It provides products such as Backpacks, Jackets, Camp essentials, Hiking boots, GPS devices, ATV accessories and Fishing rods, among others. The company also offers an e-commerce experience, extensive in-store events and educational programming.
45GF Score
Get the complete analysis for SPWH
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
SPWH has been successfully added to your 
