In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Smith & Wesson Brands's Net-Net Working Capital for the quarter that ended in Apr. 2026 was $0.12.
The industry rank for Smith & Wesson Brands's Net-Net Working Capital or its related term are showing as below:
SWBI's Price-to-Net-Net-Working-Capital is ranked worse than 95.73% of 117
companies
in the Aerospace & Defense industry
Industry Median: 9.71
vs SWBI: 129.17
Smith & Wesson Brands (NAS:SWBI) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Smith & Wesson Brands Net-Net Working Capital Related Terms
Smith & Wesson Brands Net-Net Working Capital Historical Data
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The historical data trend for Smith & Wesson Brands's Net-Net Working Capital can be seen below:
* 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.
Smith & Wesson Brands Net-Net Working Capital Chart
SWBI vs SATL, PKE, RGR: Net-Net Working Capital Comparison
For the Aerospace & Defense subindustry, Smith & Wesson Brands's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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.
Smith & Wesson Brands Price-to-Net-Net-Working-Capital vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Smith & Wesson Brands's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Smith & Wesson Brands's Price-to-Net-Net-Working-Capital 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.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $0.12 mean?
Smith & Wesson Brands (SWBI) has a Net-Net Working Capital of $0.12 as of Apr. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Smith & Wesson Brands According to the industry distribution chart, Smith & Wesson Brands ranks #112 out of 117 companies in the Aerospace & Defense industry, placing it in the top 95.7%.
Is Smith & Wesson Brands' Net-Net Working Capital too high?
Smith & Wesson Brands' current Net-Net Working Capital is $0.12. The Aerospace & Defense industry median Net-Net Working Capital is 9.71. Smith & Wesson Brands' value of $0.12 is 98.8% below this industry median. Based on the distribution chart, Smith & Wesson Brands ranks #112 out of 117 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Smith & Wesson Brands has a GF Score™ of 57/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Smith & Wesson Brands' Net-Net Working Capital compare to SATL and PKE?
According to the Aerospace & Defense industry distribution chart, Smith & Wesson Brands ranks #112 out of 117 companies for Net-Net Working Capital. This places Smith & Wesson Brands in the lower half of its industry. The industry median Net-Net Working Capital is 9.71. Smith & Wesson Brands' value of $0.12 is 98.8% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for an Aerospace & Defense company?
The median Net-Net Working Capital among Aerospace & Defense companies is 9.71, based on 117 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Smith & Wesson Brands's current Net-Net Working Capital of $0.12 is 98.8% below 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 Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Smith & Wesson Brands For the Aerospace & Defense industry, the median Net-Net Working Capital is 9.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Smith & Wesson Brands's current Net-Net Working Capital is $0.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Smith & Wesson Brands stock overvalued right now?
Based on GuruFocus' analysis, Smith & Wesson Brands (SWBI) is currently considered Modestly Overvalued. The stock's GF Value™ is $13.84, compared to a current price of $15.50 — trading 12% above its estimated fair value. The current Net-Net Working Capital is $0.12 and 98.8% below the Aerospace & Defense industry median of 9.71. Smith & Wesson Brands' overall GF Score™ is 57/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Smith & Wesson Brands (SWBI), the current Net-Net Working Capital is $0.12 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 Smith & Wesson Brands (SWBI) Overvalued in 2026?
Based on GuruFocus' analysis, Smith & Wesson Brands stock appears to be overvalued.
The current stock price of $15.50 is trading 12% above its estimated GF Value™ of $13.84.
GuruFocus considers Smith & Wesson Brands to be Modestly Overvalued.
Key valuation signals for SWBI:
Net-Net Working Capital: $0.12
GF Value™: $13.84 vs. price of $15.50 (12% above fair value)
Industry Position: 98.8% below the Aerospace & Defense median (#112 of 117)
No single metric tells the full story. See the SWBI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Smith & Wesson Brands Inc is a U.S.-based company engaged in manufacturing and selling firearms. It operates under one reportable segment: Firearms, which includes firearms distribution and manufacturing services. The company manufactures handguns, long guns, sporting rifles, shooting gear, and suppressor products. The company sells its products under the Smith and Wesson and Gemtech brands, which are used for defense, law enforcement, hunting, and sporting purposes. Geographically, it sells products globally, with maximum income being generated by the U.S. market from its handgun products.
57GF Score
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