Sportsman's Warehouse Holdings (SPWH) Cash Flow: Operating & Free Cash Flow

Sportsman's Warehouse Holdings (SPWH) Cash Flow Statement

In fiscal 2026 (fiscal year ended Jan 31, 2026), Sportsman's Warehouse Holdings generated $31.33M of operating cash flow and spent $22.44M on capital expenditures. That left free cash flow of $8.88M, down 54.7% from $19.59M a year earlier, or 0.7% of revenue. It repurchased $209.00K of its own shares.

Sportsman's Warehouse Holdings Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Sportsman's Warehouse Holdings, Inc. (SPWH) - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jan 2026	Feb 2025	Jan 2025	Feb 2024	Jan 2024	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018
Operating Activities
Net Income	-50.06	-50.06	-33.06	-33.06	-29.00	40.52	108.47	91.38	20.22	23.75	17.74
Depreciation & Amortization	39.10	39.10	40.50	40.50	39.01	31.78	26.23	21.83	19.32	18.25	17.71
Deferred Income Tax	-0.95	-	1.45	-	-10.05	3.77	5.35	-0.92	0.71	0.71	0.50
Stock Based Compensation	3.06	4.23	4.23	4.24	4.24	4.67	3.33	3.30	2.10	2.83	2.29
Change in Working Capital	21.59	11.75	11.75	30.81	47.91	-62.70	-196.78	98.80	8.48	-16.01	-16.79
Change in Accounts Receivable	-1.98	-1.98	-0.29	-0.29	-0.07	-0.12	-1.36	0.32	-0.66	0.07	0.09
Change in Inventory	29.10	29.10	12.75	12.75	44.42	-12.57	-143.13	39.94	20.25	-6.01	-24.31
Change in Accounts Payable	-19.64	-19.64	8.00	8.00	1.79	-1.51	-20.38	37.81	12.71	-11.73	7.54
Change in Other Working Capital	0.68	5.41	-8.71	-5.14	0.15	28.77	31.79	20.72	-23.82	1.65	-0.11
Other Operating Activities	0.68	17.64	9.29	2.42	0.15	28.77	31.79	24.43	27.04	2.64	9.32
Net Cash from Operating Activities	31.33	34.15	34.15	52.27	52.27	46.79	-21.63	238.82	77.87	32.17	30.78
Investing Activities
Capital Expenditures	-22.44	-14.56	-14.56	-79.90	-79.90	-63.51	-53.45	-19.75	-30.37	-18.20	-41.17
Acquisitions	0.00	-	0.00	-	0.00	0.00	0.00	-6.47	-28.54	1.94	9.04
Other Investing Activities	0.01	-	0.08	-	0.00	2.92	0.00	0.00	9.84	1.94	9.04
Net Cash from Investing Activities	-22.43	-14.48	-14.48	-79.90	-79.90	-60.59	-53.45	-26.23	-49.06	-16.25	-32.14
Financing Activities
Debt Repayment	-0.07	-51.39	-26.39	-6.36	38.54	21.45	66.05	-146.08	-28.70	-14.46	-2.58
Common Stock Issued	0.00	0.21	0.00	0.30	0.00	0.00	0.00	0.00	0.40	0.35	0.40
Common Stock Repurchased	0.21	-0.35	0.30	-0.33	-2.75	-64.75	-2.29	0.40	-0.37	-0.70	-0.64
Other Financing Activities	-3.08	-1.14	6.11	6.43	-8.21	1.57	0.52	-3.25	0.40	-0.98	4.43
Net Cash from Financing Activities	-10.07	-19.98	-19.98	28.38	28.38	-40.84	66.57	-148.75	-28.66	-16.14	1.22
Summary
Net Change in Cash	-1.17	-0.31	-0.31	0.75	0.75	-54.63	-8.51	63.84	0.14	-0.22	-0.14
Cash at Beginning of Period	2.83	-	3.14	-	2.39	57.02	65.53	1.69	1.55	1.77	1.91
Cash at End of Period	1.66	-	2.83	-	3.14	2.39	57.02	65.53	1.69	1.55	1.77
Free Cash Flow	8.88	19.59	19.59	-27.63	-27.63	-16.72	-75.08	219.06	47.49	13.98	-10.40
Supplemental Disclosures
Interest Paid	-	11.46	-	12.09	-	3.40	3.51	-	-	-	-
Income Taxes Paid	-	0.41	-	1.65	-	18.15	25.30	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Aug 1, 2026. Data sources and methodology

Frequently Asked Questions About Sportsman's Warehouse Holdings Cash Flow

What is Sportsman's Warehouse Holdings's free cash flow?

Sportsman's Warehouse Holdings generated free cash flow of $8.88M in fiscal 2026 (fiscal year ended Jan 31, 2026), operating cash flow of $31.33M minus $22.44M of capital expenditures. That was down 54.7% from $19.59M a year earlier. Free cash flow equaled 0.7% of revenue.

How much does Sportsman's Warehouse Holdings spend on capital expenditures?

Sportsman's Warehouse Holdings spent $22.44M on capital expenditures in fiscal 2026, compared with $14.56M a year earlier. That equals 71.6% of operating cash flow.

Does Sportsman's Warehouse Holdings pay dividends or buy back shares?

Yes. In fiscal 2026 Sportsman's Warehouse Holdings returned $209.00K in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition