Company Quick10K Filing
Sportsman's Warehouse
10-K 2020-02-01 Filed 2020-04-09
10-Q 2019-11-02 Filed 2019-12-06
10-Q 2019-08-03 Filed 2019-08-30
10-Q 2019-05-04 Filed 2019-05-31
10-K 2019-02-02 Filed 2019-03-29
10-Q 2018-11-03 Filed 2018-11-29
10-Q 2018-08-04 Filed 2018-08-24
10-Q 2018-05-05 Filed 2018-05-25
10-K 2018-02-03 Filed 2018-03-29
10-Q 2017-10-28 Filed 2017-11-17
10-Q 2017-07-29 Filed 2017-08-18
10-Q 2017-04-29 Filed 2017-05-19
10-K 2017-01-28 Filed 2017-03-24
10-Q 2016-10-29 Filed 2016-11-18
10-Q 2016-07-30 Filed 2016-08-19
10-Q 2016-04-30 Filed 2016-05-25
10-K 2016-01-30 Filed 2016-03-24
10-Q 2015-10-31 Filed 2015-11-20
10-Q 2015-08-01 Filed 2015-08-28
10-Q 2015-05-02 Filed 2015-05-29
10-K 2015-01-31 Filed 2015-04-02
10-Q 2014-11-01 Filed 2014-12-05
10-Q 2014-08-02 Filed 2014-09-12
10-Q 2014-05-03 Filed 2014-06-11
8-K 2020-04-03 Officers, Amend Bylaw, Exhibits
8-K 2020-03-26 Earnings, Exhibits
8-K 2020-01-10 Regulation FD
8-K 2020-01-09 Regulation FD, Exhibits
8-K 2019-12-18 Regulation FD
8-K 2019-12-04 Earnings, Exhibits
8-K 2019-10-17 Off-BS Arrangement, Other Events
8-K 2019-09-28 Enter Agreement, Regulation FD, Exhibits
8-K 2019-09-13 Regulation FD
8-K 2019-09-12 Officers, Regulation FD, Exhibits
8-K 2019-08-28 Earnings, Exhibits
8-K 2019-06-07 Officers, Exhibits
8-K 2019-06-03 Shareholder Vote
8-K 2019-05-30 Earnings, Exhibits
8-K 2019-04-08 Officers, Exhibits
8-K 2019-03-25 Earnings, Officers, Exhibits
8-K 2019-03-07 Officers
8-K 2019-01-14 Officers, Regulation FD, Exhibits
8-K 2019-01-10 Regulation FD
8-K 2018-11-28 Earnings, Exhibits
8-K 2018-11-01 Officers, Regulation FD, Exhibits
8-K 2018-08-23 Earnings, Exhibits
8-K 2018-07-23 Other Events, Exhibits
8-K 2018-07-18 Other Events
8-K 2018-05-29 Shareholder Vote
8-K 2018-05-24 Enter Agreement, Leave Agreement, Off-BS Arrangement
8-K 2018-05-24 Earnings, Exhibits
8-K 2018-05-17 Officers, Exhibits
8-K 2018-03-28 Earnings, Exhibits
8-K 2018-03-13 Officers, Regulation FD, Exhibits

Sportsman's Warehouse Financials

SPWH Metrics, Comps, Filings

Quarterly | Annual

Business

Sportsman’s Warehouse is an outdoor sporting goods retailer focused on meeting the everyday needs of the seasoned outdoor veteran, the first-time participant, and every enthusiast in between. Our mission is to provide an omni-channel shopping experience that equips our customers with the right quality hunting, shooting, fishing and camping gear to maximize their enjoyment of the outdoors. We strive to accomplish this goal by tailoring our broad and deep merchandise assortment to meet local conditions and demand, offering everyday low prices, providing friendly support from our knowledgeable, highly trained staff, offering a top-tier e-commerce experience and extensive in-store events and educational programming. These core strategies help position Sportsman’s Warehouse as the “local outdoor experts” and the preferred place to both shop and share outdoor-based experiences in the communities we serve. As a result, we are growing our loyal customer base in existing markets, expanding our footprint into new markets, and increasing our omni-channel presence new and existing markets, which we believe will further drive our growth and profitability.

Sportsman’s Warehouse was founded in 1986 as a single retail store in Midvale, Utah and has grown to 92 stores across 23 states. Today, we have the largest outdoor specialty store base in the Western United States and Alaska. Our stores range from 15,000 to 65,000 gross square feet, with an average size of approximately 40,000 gross square feet. Our store layout is adaptable to both standalone locations and strip centers. We believe it is less capital-intensive for us to open new stores compared to our principal competitors because our “no frills” store layout requires less initial cash investment to build out and our stores generally require less square footage than the stores of our competitors. We also have the largest offering of firearms available online for in-store purchase by our customers when compared to the offerings of our major competitors. Together, these features enable us to effectively serve markets of multiple sizes, from Metropolitan Statistical Areas (“MSAs”) with populations of less than 75,000 to major metropolitan areas with populations in excess of 1,000,000, while generating consistent four-wall Adjusted EBITDA margins and returns on invested capital across a range of store sales volumes. We may post information that is important to investors on our website from time to time. The information provided on our website is not part of this report and is, therefore, not incorporated herein by reference.

We believe the following competitive strengths allow us to capitalize on the growth opportunity within the outdoor activities and sporting goods market:


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Star Group (SGU) 472,062 3% 8.8 2% 752,706 491,866 1,753,872 48,482 17,637 70,505 620,913
EZCorp (EZPW) 377,332 58% 8.0 0% 1,083,702 338,753 847,384 494,603 2,541 66,430 532,866
MarineMax (HZO) 349,166 26% 4.3 5% 784,083 415,264 1,237,153 322,832 35,985 72,129 310,655
Titan Machinery (TITN) 324,998 26% 7.8 1% 1,029,524 687,245 954,209 245,286 11,120 39,440 308,332
Lovesac (LOVE) 267,801 51% -14.2 -17% 118,746 34,296 141,202 71,531 -20,621 -16,951 239,904
Jumei (JMEI) 263,680 0% 5,142,205 1,404,434 0 0 0 0 -656,053
Secoo Holding (SECO) 230,410 0% 3,791,926 2,282,413 0 0 0 0 309,387
Sportsman's Warehouse (SPWH) 226,071 34% 7.2 2% 673,012 573,193 628,249 211,605 10,532 34,413 246,115
Zagg (ZAGG) 176,218 23% 11.2 1% 450,823 289,694 498,547 115,926 3,241 24,270 272,912
Barnes & Noble Education (BNED) 160,901 26% 11.8 -3% 1,380,255 922,935 1,976,600 508,963 -41,673 11,489 135,545
Ferrellgas Partners (FGP) 98,124 0% 22.0 1% 1,443,288 1,443,286 1,625,297 0 19,296 99,052 2,182,186
A-Mark Precious Metals (AMRK) 83,603 1% 7.4 0% 827,197 754,162 4,699,081 31,823 0 22,135 163,159
US Auto Parts (PRTS) 57,838 29% -40.7 -6% 105,570 69,832 217,699 63,035 -6,461 -1,419 57,808
Big 5 Sporting Goods (BGFV) 49,845 31% 1.6 1% 692,825 512,181 752,401 234,985 8,089 27,939 44,803
Kirkland's (KIRK) 18,915 29% -1.3 -7% 466,377 385,804 610,616 177,234 -34,190 -11,765 14,713
Advance Auto Parts (AAP) 11,046 44% 11.1 8% 11,249 7,699 9,709 4,255 878 1,029 11,375
Takung Art (TKAT) 6,528 44% 5.4 -9% 34,177 26,588 2,285 997 -2,964 -3,073 -16,567
OneWater Marine (ONEW)
AmeriGas Partners (APU) 0% 6.9 5% 3,791,339 3,309,280 2,737,485 0 186,855 369,943 2,558,984
Haverty Furniture (HVT) 54% -2.1 4% 578,503 309,781 797,424 433,125 25,193 45,972 -96,160

Balance Sheet ($'000)2014-05-032014-08-022014-11-012015-01-312015-05-022015-08-012015-10-312016-01-302016-04-302016-07-302016-10-292017-01-282017-04-292017-07-292017-10-282018-02-032018-05-052018-08-042018-11-032019-02-022019-05-042019-08-032019-11-02
Cash1,7521,6521,7381,7512,0065831,9412,1092,4042,5782,6911,9112,2691,8212,1551,7692,3792,7341,8921,5471,7151,4751,737
Accounts Receivable425554419393469446309469411382441404319382388419249289239620
Inventory
PP&E53,35664,15068,09874,72783,59694,14196,78392,605102,868118,134122,429125,451140,772153,596152,758152,216157,377162,865164,696168,136171,689183,245197,714
Assets272,734292,332315,666270,723305,849325,925343,423303,024338,786365,843402,846346,248405,634421,722429,025379,661416,428446,182480,119388,897584,348584,461673,012
Accounts Payable51,02749,68762,11228,50053,99560,21261,90846,69858,61170,52571,40831,54974,17660,76169,45336,78864,01274,27191,51124,95349,98264,891105,527
Long-Term Debt212,904159,350158,763159,600159,200158,800158,400158,000137,926137,526137,127136,727136,327135,927135,527135,127134,72739,59037,61135,63233,65423,76021,781
Liabilities324,878336,788350,684302,055338,697350,093357,456305,083341,137358,699384,284316,247380,131388,980386,091329,863368,951391,472412,629310,237501,808495,754573,193
Stockholders' Equity-52,144-44,456-35,018-31,332-32,848-24,168-14,033-2,059-2,3517,14418,56230,00125,50332,74242,93449,79847,47754,71067,49078,66082,54088,70799,819
Income Statement ($'000)2014-05-032014-08-022014-11-012015-01-312015-05-022015-08-012015-10-312016-01-302016-04-302016-07-302016-10-292017-01-282017-04-292017-07-292017-10-282018-02-032018-05-052018-08-042018-11-032019-02-022019-05-042019-08-032019-11-02
Revenue132,425159,468182,532185,578144,493172,985199,704212,730151,615189,804217,161221,376156,898191,493218,115243,165180,059203,288223,099174,017211,766242,466
Cost of Revenue92,297106,641121,881123,977101,342114,983133,139141,918103,143123,619142,896147,068108,283122,875141,152163,501124,493131,011145,518119,844138,544158,256
Gross Profit40,12852,82760,65161,60143,15158,00266,56570,81248,47266,18574,26574,30848,61568,61876,96379,66455,56672,27777,58154,17373,22284,210
R&D
SG&A40,34940,48442,02647,45641,90341,21647,39648,70346,11649,51453,71953,19552,38254,38357,44363,08559,21660,86260,07059,53063,46068,336
Tax-2,1113,1735,5871,979-8525,1385,9697,1301,7165,2266,6307,303-2,4104,2456,2187,702-1,3792,3042,480-2,0031,9113,287
Net Income-3,3685,0638,9163,173-1,3608,2009,54111,3903118,30410,51410,540-4,5076,5549,8085,887-5,8286,55112,398-5,4595,49810,493
Cash Flow ($'000)2014-05-032014-08-022014-11-012015-01-312015-05-022015-08-012015-10-312016-01-302016-04-302016-07-302016-10-292017-01-282017-04-292017-07-292017-10-282018-02-032018-05-052018-08-042018-11-032019-02-022019-05-042019-08-032019-11-02
Cash Operating-19,1941,0764,36534,226-2,9212,1874,59031,806-15,64616,045-15,54230,625-8,85225,70023,198-9,049-2,135-3,2373,44331,99122,413
Cash Investing-8,796-10,794-3,948-6,629-8,869-10,545-2,6427,105-8,720-14,675-4,621522-13,204-1,729940-4,474-6,111-2,914-3,091-11,359-27,227
Cash Financing28,3889,618-331-27,58412,0456,935-590-38,74324,661-1,19620,276-31,92722,414-23,637-24,52414,1338,6015,309-184-20,8725,076