SWBI (Smith & Wesson Brands) Operating Income: $29.2 Mil (TTM As of Apr. 2026)

What is Smith & Wesson Brands Operating Income?

Smith & Wesson Brands SWBI +2.06% 63 Operating Income is $29.2 Mil as of Apr. 2026. GuruFocus rates SWBI with a GF Score™ of 63/100 and a GF Value™ of $13.82 (Modestly Overvalued). The stock has 8 warning signs investors should review.

Smith & Wesson Brands's Operating Income for the three months ended in Apr. 2026 was $21.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 was $29.2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Smith & Wesson Brands's Operating Income for the three months ended in Apr. 2026 was $21.6 Mil. Smith & Wesson Brands's Revenue for the three months ended in Apr. 2026 was $178.4 Mil. Therefore, Smith & Wesson Brands's Operating Margin % for the quarter that ended in Apr. 2026 was 12.09%.

Warning Sign:

Smith & Wesson Brands Inc operating margin has been in a 5-year decline. The average rate of decline per year is -33.3%.

Smith & Wesson Brands's 5-Year average Growth Rate for Operating Margin % was -33.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Smith & Wesson Brands's annualized ROC % for the quarter that ended in Apr. 2026 was 15.64%. Smith & Wesson Brands's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 21.91%.

Smith & Wesson Brands (NAS:SWBI) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Smith & Wesson Brands's annualized ROC % for the quarter that ended in Apr. 2026 is calculated as:

	ROC % (Q: Apr. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jan. 2026 )	+	Invested Capital (Q: Apr. 2026 ))	/ count )
=	86.252 * ( 1 - 21.99% )	/	( (456.399	+	404.047)	/ 2 )
=	67.2851852	/	430.223
=	15.64 %

where

	Invested Capital		(Q: Jan. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	538.004	-	58.143	-	( 23.462	-	max(0, 58.143	-	261.533	+	23.462	))
=	456.399

	Invested Capital		(Q: Apr. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	512.766	-	75.367	-	( 33.352	-	max(0, 75.367	-	241.403	+	33.352	))
=	404.047

Note: The Operating Income data used here is four times the quarterly (Apr. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Smith & Wesson Brands's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Apr. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jan. 2026		Q: Apr. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	85.948	/	( ( (238.578 + max(177.477, 0))	+	(238.643 + max(129.925, 0)) )	/	2 )
=	85.948	/	( ( 416.055	+	368.568 )	/	2 )
=	85.948	/	392.3115
=	21.91 %

where Working Capital is:

	Working Capital		(Q: Jan. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(50.834	+	175.264	+	7.702)	-	(58.143	+	0	+	-1.82)
=	177.477

	Working Capital		(Q: Apr. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(40.014	+	156.25	+	7.17)	-	(75.367	+	0	+	-1.858)
=	129.925

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Apr. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Smith & Wesson Brands's Operating Margin % for the quarter that ended in Apr. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Apr. 2026 )	/	Revenue (Q: Apr. 2026 )
	=	21.563	/	178.388
	=	12.09 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Smith & Wesson Brands Operating Income Related Terms

Smith & Wesson Brands Operating Income Historical Data

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The historical data trend for Smith & Wesson Brands's Operating Income can be seen below:

Smith & Wesson Brands Operating Income Chart

Smith & Wesson Brands Annual Data

Trend

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Apr23

Apr24

Apr25

Apr26

Operating Income

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251.65

48.34

47.09

21.37

29.20

Smith & Wesson Brands Quarterly Data
	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24	Jan25	Apr25	Jul25	Oct25	Jan26	Apr26
Operating Income	Get a 7-Day Free Trial															13.13	-3.00	4.12	6.53	21.56

63GF Score

Smith & Wesson Brands Inc SWBI

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Smith & Wesson Brands Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $29.2 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $29.2 Mil mean?

Smith & Wesson Brands (SWBI) has a Operating Income of $29.2 Mil as of Apr. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Smith & Wesson Brands and its competitors.

Is Smith & Wesson Brands' Operating Income too high?

Smith & Wesson Brands' current Operating Income is $29.2 Mil. Overall, Smith & Wesson Brands has a GF Score™ of 63/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Smith & Wesson Brands' Operating Income compare to SATL and PKE?

Smith & Wesson Brands' Operating Income of $29.2 Mil can be compared against companies in the Aerospace & Defense industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for an Aerospace & Defense company?

A good Operating Income depends on the Aerospace & Defense industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Smith & Wesson Brands and its competitors. Smith & Wesson Brands's current Operating Income is $29.2 Mil. 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 $13.82, compared to a current price of $15.35 — trading 11.1% above its estimated fair value. The current Operating Income is $29.2 Mil. Smith & Wesson Brands' overall GF Score™ is 63/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Smith & Wesson Brands (SWBI), the current Operating Income is $29.2 Mil 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 $15.35 is trading 11.1% above its estimated GF Value™ of $13.82. GuruFocus considers Smith & Wesson Brands to be Modestly Overvalued.

Key valuation signals for SWBI:

Operating Income: $29.2 Mil
GF Value™: $13.82 vs. price of $15.35 (11.1% above fair value)
GF Score™: 63/100 with 8 warning signs

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 Business Description

Industry Industrials Aerospace & Defense

Comparable Companies SATL PKE RGR ELMT EVEX MRLN NPK EH AVEX SPCE SPCX GE RTX XPAR:AIR BA XPAR:SAF LSE:RR.LMT HWM GD

Other Exchanges 0HEM:UK SWS:Germany

Address 1852 Proffitt Springs Road, Maryville, TN, USA, 37801

Website https://www.smith-wesson.com

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.

63GF Score

Get the complete analysis for SWBI

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$15.35

Price

$13.82

GF Value

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