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Smith & Wesson Brands cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$20.8M in Q1 FY27 · $82.1M over twelve months

Operating cash flow−$8.8M
Capital spending−$11.9M
Free cash flow−$20.8M
Cash / net income-3.4×
Cash conversion cycle-13 days

Analysis

In Q1 FY27, Smith & Wesson Brands generated −$8.8M of operating cash flow and spent $11.9M on capital projects, leaving free cash flow of −$20.8M. That is $8.4M less than in Q1 FY26 (−$12.4M).

Over the twelve months to Jul 31, 2026, operating cash flow was $113M; the largest uses were net borrowing (+) / repaid (−) ($55.0M), capital spending ($31.4M), dividends ($23.3M); besides operations, cash came from asset & business sales ($186K); the cash balance rose by $735K.

Operating cash flow was −$8.8M against net income of $2.6M — -3.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: inventory −$24.4M, receivables +$10.3M, depreciation & amortization +$7.7M.

Its cash conversion cycle was -13 days (receivables 28 + inventory 0 − payables 41): suppliers fund its working capital.

Free cash flow

Smith & Wesson Brands: free cash flow by quarterSmith & Wesson Brands: free cash flow by quarter−$10.7MQ2 FY25−$16.1MQ3 FY25$33.5MQ4 FY25−$12.4MQ1 FY26$16.3MQ2 FY26$16.8MQ3 FY26$69.7MQ4 FY26−$20.8MQ1 FY27
Operating cash flow less capital spending.
Smith & Wesson Brands: operating cash flow against capital spendingSmith & Wesson Brands: operating cash flow against capital spendingOperating cash flowCapital spending−$7.4M$3.3MQ2 FY25−$9.8M$6.3MQ3 FY25$40.8M$7.3MQ4 FY25−$8.1M$4.3MQ1 FY26$27.3M$11.0MQ2 FY26$20.5M$3.6MQ3 FY26$74.6M$4.8MQ4 FY26−$8.8M$11.9MQ1 FY27
Latest (Q1 FY27): Operating cash flow −$8.8M, Capital spending $11.9M.

Capital allocation, year by year

Smith & Wesson Brands: where the cash came from (up) and went (down), by fiscal yearSmith & Wesson Brands: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY22: Operating cash flow $138MFY22: Shares issued $1.7MFY22: Asset sales $139KFY22: Capital spending −$24.0MFY22: Buybacks −$90.0MFY22: Dividends −$15.0M$140MFY22FY23: Operating cash flow $16.7MFY23: Net borrowing $25.0MFY23: Shares issued $1.5MFY23: Asset sales $118KFY23: Capital spending −$89.6MFY23: Dividends −$18.3M$43.4MFY23FY24: Operating cash flow $107MFY24: Net borrowing $15.0MFY24: Shares issued $1.5MFY24: Asset sales $3.0MFY24: Capital spending −$90.8MFY24: Buybacks −$10.2MFY24: Dividends −$22.0M$126MFY24FY25: Operating cash flow −$7.2MFY25: Net borrowing $40.0MFY25: Shares issued $1.6MFY25: Asset sales $2.6MFY25: Capital spending −$21.6MFY25: Buybacks −$25.5MFY25: Dividends −$23.1M$44.2MFY25FY26: Operating cash flow $114MFY26: Net borrowing −$60.0MFY26: Shares issued $1.6MFY26: Asset sales $235KFY26: Capital spending −$23.7MFY26: Dividends −$23.2M$116MFY26
Over these 5 years operating cash flow totalled $368M; the largest uses were capital spending ($250M) and buybacks ($126M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$18.7M
Debtnone
Net cash$18.7M

Smith & Wesson Brands funds itself: free cash flow was $82.1M over the last twelve months, with $18.7M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Smith & Wesson Brands: sources (+) and uses (−) of cash, Q1 FY27Smith & Wesson Brands: sources (+) and uses (−) of cash, Q1 FY27Net borrowing (+) / repaid (−)$20.0MCapital spending−$11.9MCash drawn (+) / kept (−)$9.5MOperating cash flow−$8.8MDividends−$6.0MTaxes on employees’ shares−$1.4MOther investing−$1.3MOther financing−$52K
Smith & Wesson Brands: sources (+) and uses (−) of cash, TTM to Q1 FY27Smith & Wesson Brands: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$113MNet borrowing (+) / repaid (−)−$55.0MCapital spending−$31.4MDividends−$23.3MOther investing−$2.8MCash drawn (+) / kept (−)−$735KOther financing−$376KAsset & business sales$186K

From profit to cash

Smith & Wesson Brands: net income to operating cash flow, Q1 FY27Smith & Wesson Brands: net income to operating cash flow, Q1 FY27Net income$2.6MDepreciation & amortization$7.7MStock-based pay$1.8MOther non-cash−$77KReceivables$10.3MInventory−$24.4MPayables$3.0MPrepaid and other assets−$1.4MOther liabilities$754KOperating cash flow−$8.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2728—41-13
Q4 FY2623—211
Q3 FY2633—2310
Q2 FY2632—2210
Q1 FY2653—3517
Q4 FY2536—2313
Q3 FY2544—3014
Q2 FY2536—306

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27−$8.8M−$11.9M—−$6.0M$20.0M—$9.5M−$20.8M
Q4 FY26$74.6M−$4.8M—−$5.8M−$55.0M$834K−$9.8M$69.7M
Q3 FY26$20.5M−$3.6M—−$5.8M−$15.0M—$4.0M$16.8M
Q2 FY26$27.3M−$11.0M—−$5.8M−$5.0M—−$4.5M$16.3M
Q1 FY26−$8.1M−$4.3M—−$5.9M$15.0M—$7.3M−$12.4M
Q4 FY25$40.8M−$7.3M—−$5.7M−$30.0M$849K$1.5M$33.5M
Q3 FY25−$9.8M−$6.3M−$2.8M−$5.7M$10.0M—$12.4M−$16.1M
Q2 FY25−$7.4M−$3.3M−$9.8M−$5.8M$30.0M—−$3.6M−$10.7M

Smith & Wesson Brands: income statement and cash flow

Smith & Wesson Brands, Q1 FY27: revenue $113M (+32% year over year), operating margin 3.7%. The chart follows the revenue to costs, profit and cash.

Smith & Wesson Brands: 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.