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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $124.7M, roughly 1.3× SMITH & WESSON BRANDS, INC.). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs 1.5%, a 3.2% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs -3.9%). SMITH & WESSON BRANDS, INC. produced more free cash flow last quarter ($16.3M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% CAGR vs -4.8%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
IIIN vs SWBI — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $124.7M |
| Net Profit | $7.6M | $1.9M |
| Gross Margin | 11.3% | 24.3% |
| Operating Margin | 6.0% | 3.3% |
| Net Margin | 4.7% | 1.5% |
| Revenue YoY | 23.3% | -3.9% |
| Net Profit YoY | 602.4% | -53.6% |
| EPS (diluted) | $0.39 | $0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $159.9M | $124.7M | ||
| Q3 25 | $177.4M | $85.1M | ||
| Q2 25 | $179.9M | $140.8M | ||
| Q1 25 | $160.7M | $115.9M | ||
| Q4 24 | $129.7M | $129.7M | ||
| Q3 24 | $134.3M | $88.3M | ||
| Q2 24 | $145.8M | $159.1M | ||
| Q1 24 | $127.4M | $137.5M |
| Q4 25 | $7.6M | $1.9M | ||
| Q3 25 | $14.6M | $-3.4M | ||
| Q2 25 | $15.2M | $8.6M | ||
| Q1 25 | $10.2M | $2.1M | ||
| Q4 24 | $1.1M | $4.5M | ||
| Q3 24 | $4.7M | $-1.9M | ||
| Q2 24 | $6.6M | $27.9M | ||
| Q1 24 | $6.9M | $7.9M |
| Q4 25 | 11.3% | 24.3% | ||
| Q3 25 | 16.1% | 25.9% | ||
| Q2 25 | 17.1% | 28.8% | ||
| Q1 25 | 15.3% | 24.1% | ||
| Q4 24 | 7.3% | 26.6% | ||
| Q3 24 | 9.1% | 27.4% | ||
| Q2 24 | 10.6% | 35.5% | ||
| Q1 24 | 12.3% | 28.7% |
| Q4 25 | 6.0% | 3.3% | ||
| Q3 25 | 10.8% | -3.5% | ||
| Q2 25 | 11.0% | 9.3% | ||
| Q1 25 | 8.3% | 4.1% | ||
| Q4 24 | 1.1% | 5.8% | ||
| Q3 24 | 4.5% | -1.7% | ||
| Q2 24 | 6.0% | 17.4% | ||
| Q1 24 | 7.0% | 8.2% |
| Q4 25 | 4.7% | 1.5% | ||
| Q3 25 | 8.2% | -4.0% | ||
| Q2 25 | 8.4% | 6.1% | ||
| Q1 25 | 6.4% | 1.8% | ||
| Q4 24 | 0.8% | 3.5% | ||
| Q3 24 | 3.5% | -2.1% | ||
| Q2 24 | 4.5% | 17.5% | ||
| Q1 24 | 5.4% | 5.7% |
| Q4 25 | $0.39 | $0.04 | ||
| Q3 25 | $0.74 | $-0.08 | ||
| Q2 25 | $0.78 | $0.19 | ||
| Q1 25 | $0.52 | $0.05 | ||
| Q4 24 | $0.06 | $0.10 | ||
| Q3 24 | $0.24 | $-0.04 | ||
| Q2 24 | $0.34 | $0.60 | ||
| Q1 24 | $0.35 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $15.6M | $22.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $358.8M | $363.2M |
| Total Assets | $456.1M | $548.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $22.4M | ||
| Q3 25 | $38.6M | $18.0M | ||
| Q2 25 | $53.7M | $25.2M | ||
| Q1 25 | $28.4M | $26.7M | ||
| Q4 24 | $36.0M | $39.1M | ||
| Q3 24 | $111.5M | $35.5M | ||
| Q2 24 | $97.7M | $60.8M | ||
| Q1 24 | $83.9M | $47.4M |
| Q4 25 | $358.8M | $363.2M | ||
| Q3 25 | $371.5M | $364.4M | ||
| Q2 25 | $356.2M | $372.5M | ||
| Q1 25 | $341.4M | $366.9M | ||
| Q4 24 | $331.6M | $371.5M | ||
| Q3 24 | $350.9M | $380.0M | ||
| Q2 24 | $346.0M | $399.9M | ||
| Q1 24 | $340.6M | $376.4M |
| Q4 25 | $456.1M | $548.6M | ||
| Q3 25 | $462.6M | $554.6M | ||
| Q2 25 | $471.9M | $559.6M | ||
| Q1 25 | $421.9M | $578.9M | ||
| Q4 24 | $404.7M | $587.4M | ||
| Q3 24 | $422.6M | $571.3M | ||
| Q2 24 | $414.6M | $577.4M | ||
| Q1 24 | $397.2M | $570.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-701.0K | $27.3M |
| Free Cash FlowOCF − Capex | $-2.2M | $16.3M |
| FCF MarginFCF / Revenue | -1.4% | 13.1% |
| Capex IntensityCapex / Revenue | 0.9% | 8.8% |
| Cash ConversionOCF / Net Profit | -0.09× | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $27.3M | ||
| Q3 25 | $-17.0M | $-8.1M | ||
| Q2 25 | $28.5M | $40.8M | ||
| Q1 25 | $-3.3M | $-9.8M | ||
| Q4 24 | $19.0M | $-7.4M | ||
| Q3 24 | $16.2M | $-30.8M | ||
| Q2 24 | $18.8M | $43.7M | ||
| Q1 24 | $1.4M | $25.2M |
| Q4 25 | $-2.2M | $16.3M | ||
| Q3 25 | $-18.7M | $-12.4M | ||
| Q2 25 | $26.9M | $33.5M | ||
| Q1 25 | $-5.5M | $-16.1M | ||
| Q4 24 | $16.3M | $-10.7M | ||
| Q3 24 | $14.5M | $-35.5M | ||
| Q2 24 | $15.5M | $38.2M | ||
| Q1 24 | $-580.0K | $7.0M |
| Q4 25 | -1.4% | 13.1% | ||
| Q3 25 | -10.6% | -14.6% | ||
| Q2 25 | 15.0% | 23.8% | ||
| Q1 25 | -3.5% | -13.9% | ||
| Q4 24 | 12.6% | -8.3% | ||
| Q3 24 | 10.8% | -40.2% | ||
| Q2 24 | 10.7% | 24.0% | ||
| Q1 24 | -0.5% | 5.1% |
| Q4 25 | 0.9% | 8.8% | ||
| Q3 25 | 1.0% | 5.0% | ||
| Q2 25 | 0.9% | 5.2% | ||
| Q1 25 | 1.4% | 5.4% | ||
| Q4 24 | 2.1% | 2.5% | ||
| Q3 24 | 1.3% | 5.3% | ||
| Q2 24 | 2.2% | 3.5% | ||
| Q1 24 | 1.5% | 13.2% |
| Q4 25 | -0.09× | 14.22× | ||
| Q3 25 | -1.17× | — | ||
| Q2 25 | 1.88× | 4.73× | ||
| Q1 25 | -0.32× | -4.68× | ||
| Q4 24 | 17.56× | -1.63× | ||
| Q3 24 | 3.48× | — | ||
| Q2 24 | 2.86× | 1.57× | ||
| Q1 24 | 0.20× | 3.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
SWBI
Segment breakdown not available.
