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Sportsman's Warehouse Holdings cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$15.5M in Q2 FY27 · $31.7M over twelve months

Operating cash flow−$12.1M
Capital spending−$3.5M
Free cash flow−$15.5M
Cash conversion cycle-33 days

Analysis

In Q2 FY27, Sportsman's Warehouse Holdings generated −$12.1M of operating cash flow and spent $3.5M on capital projects, leaving free cash flow of −$15.5M.

Over the twelve months to Aug 1, 2026, operating cash flow was $50.7M; the largest uses were net borrowing (+) / repaid (−) ($26.1M), capital spending ($19.0M), other financing ($5.0M); besides operations, cash came from asset & business sales ($8K); the cash balance rose by $173K.

Operating cash flow was −$12.1M against net income of −$4.4M. The largest differences: inventory −$11.8M, depreciation & amortization +$8.6M, payables −$4.5M.

Its cash conversion cycle was -33 days (receivables 1 + inventory 0 − payables 34): suppliers fund its working capital.

Free cash flow

Sportsman's Warehouse Holdings: free cash flow by quarterSportsman's Warehouse Holdings: free cash flow by quarter−$6.2MQ3 FY25$49.6MQ4 FY25−$64.0MQ1 FY26−$33.9MQ2 FY26$8.7MQ3 FY26$98.1MQ4 FY26−$59.6MQ1 FY27−$15.5MQ2 FY27
Operating cash flow less capital spending.
Sportsman's Warehouse Holdings: operating cash flow against capital spendingSportsman's Warehouse Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$2.5M$3.6MQ3 FY25$52.8M$3.3MQ4 FY25−$60.2M$3.8MQ1 FY26−$26.6M$7.4MQ2 FY26$16.3M$7.6MQ3 FY26$102M$3.7MQ4 FY26−$55.4M$4.2MQ1 FY27−$12.1M$3.5MQ2 FY27
Latest (Q2 FY27): Operating cash flow −$12.1M, Capital spending $3.5M.

Capital allocation, year by year

Sportsman's Warehouse Holdings: where the cash came from (up) and went (down), by fiscal yearSportsman's Warehouse Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksFY22: Operating cash flow −$21.6MFY22: Net borrowing $66.1MFY22: Capital spending −$53.5M$66.1MFY22FY23: Operating cash flow $46.8MFY23: Net borrowing $21.4MFY23: Capital spending −$63.5MFY23: Buybacks −$64.7M$68.2MFY23FY24: Operating cash flow $52.3MFY24: Net borrowing $38.5MFY24: Capital spending −$79.9MFY24: Buybacks −$2.7M$90.8MFY24FY25: Operating cash flow $34.1MFY25: Net borrowing −$51.4MFY25: Asset sales $76KFY25: Capital spending −$14.6M$34.2MFY25FY26: Operating cash flow $31.3MFY26: Net borrowing −$27.2MFY26: Asset sales $11KFY26: Capital spending −$22.4M$31.3MFY26
Over these 5 years operating cash flow totalled $143M; the largest uses were capital spending ($234M) and net borrowing ($78.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.0M
Debt$43.9M
Net debt$41.9M
Cash runway0 months

Sportsman's Warehouse Holdings is burning cash: its operations consume cash, a free cash flow of −$62.1M a year at the current rate against $2.0M of cash and investments: a runway of about 0 months before any new financing.

Where the cash came from and went

Sportsman's Warehouse Holdings: sources (+) and uses (−) of cash, Q2 FY27Sportsman's Warehouse Holdings: sources (+) and uses (−) of cash, Q2 FY27Net borrowing (+) / repaid (−)$19.1MOperating cash flow−$12.1MOther financing−$3.7MCapital spending−$3.5MCash drawn (+) / kept (−)$77KTaxes on employees’ shares−$15K
Sportsman's Warehouse Holdings: sources (+) and uses (−) of cash, TTM to Q2 FY27Sportsman's Warehouse Holdings: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$50.7MNet borrowing (+) / repaid (−)−$26.1MCapital spending−$19.0MOther financing−$5.0MTaxes on employees’ shares−$459KCash drawn (+) / kept (−)−$173KAsset & business sales$8K

From profit to cash

Sportsman's Warehouse Holdings: net income to operating cash flow, Q2 FY27Sportsman's Warehouse Holdings: net income to operating cash flow, Q2 FY27Net income−$4.4MDepreciation & amortization$8.6MStock-based pay$962KDeferred taxes−$57KReceivables−$1.0MInventory−$11.8MPayables−$4.5MAccrued liabilities$1.5MPrepaid and other assets$594KOperating cash flow−$12.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY271—34-33
Q1 FY271—30-29
Q4 FY261—21-19
Q3 FY261—31-30
Q2 FY261—41-40
Q1 FY261—40-39
Q4 FY251—34-33
Q3 FY251—35-34

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 FY27−$12.1M−$3.5M$19.1M$77K−$15.5M
Q1 FY27−$55.4M−$4.2M$58.6M−$395K−$59.6M
Q4 FY26$102M−$3.7M−$90.4M$587K$98.1M
Q3 FY26$16.3M−$7.6M−$13.3M−$442K$8.7M
Q2 FY26−$26.6M−$7.4M$9.4M$1.8M−$33.9M
Q1 FY26−$60.2M−$3.8M$67.2M−$728K−$64.0M
Q4 FY25$52.8M−$3.3M−$55.4M−$166K$49.6M
Q3 FY25−$2.5M−$3.6M−$1.0M−$106K−$6.2M

Sportsman's Warehouse Holdings: income statement and cash flow

Sportsman's Warehouse Holdings, Q2 FY27: revenue $296M (+0.6% year over year), operating margin -0.4%. The chart follows the revenue to costs, profit and cash.

Sportsman's Warehouse Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.