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Side-by-side financial comparison of SMITH & WESSON BRANDS, INC. (SWBI) and TREX CO INC (TREX). Click either name above to swap in a different company.
TREX CO INC is the larger business by last-quarter revenue ($161.1M vs $124.7M, roughly 1.3× SMITH & WESSON BRANDS, INC.). SMITH & WESSON BRANDS, INC. runs the higher net margin — 1.5% vs 1.4%, a 0.1% gap on every dollar of revenue. On growth, SMITH & WESSON BRANDS, INC. posted the faster year-over-year revenue change (-3.9% vs -3.9%). TREX CO INC produced more free cash flow last quarter ($22.1M vs $16.3M). Over the past eight quarters, SMITH & WESSON BRANDS, INC.'s revenue compounded faster (-4.8% CAGR vs -34.3%).
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.
SWBI vs TREX — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $124.7M | $161.1M |
| Net Profit | $1.9M | $2.3M |
| Gross Margin | 24.3% | 30.2% |
| Operating Margin | 3.3% | 2.2% |
| Net Margin | 1.5% | 1.4% |
| Revenue YoY | -3.9% | -3.9% |
| Net Profit YoY | -53.6% | -76.4% |
| EPS (diluted) | $0.04 | $0.03 |
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 | $124.7M | $161.1M | ||
| Q3 25 | $85.1M | $285.3M | ||
| Q2 25 | $140.8M | $387.8M | ||
| Q1 25 | $115.9M | $340.0M | ||
| Q4 24 | $129.7M | $167.6M | ||
| Q3 24 | $88.3M | $233.7M | ||
| Q2 24 | $159.1M | $376.5M | ||
| Q1 24 | $137.5M | $373.6M |
| Q4 25 | $1.9M | $2.3M | ||
| Q3 25 | $-3.4M | $51.8M | ||
| Q2 25 | $8.6M | $75.9M | ||
| Q1 25 | $2.1M | $60.4M | ||
| Q4 24 | $4.5M | $9.8M | ||
| Q3 24 | $-1.9M | $40.6M | ||
| Q2 24 | $27.9M | $87.0M | ||
| Q1 24 | $7.9M | $89.1M |
| Q4 25 | 24.3% | 30.2% | ||
| Q3 25 | 25.9% | 40.5% | ||
| Q2 25 | 28.8% | 40.8% | ||
| Q1 25 | 24.1% | 40.5% | ||
| Q4 24 | 26.6% | 32.7% | ||
| Q3 24 | 27.4% | 39.9% | ||
| Q2 24 | 35.5% | 44.7% | ||
| Q1 24 | 28.7% | 45.4% |
| Q4 25 | 3.3% | 2.2% | ||
| Q3 25 | -3.5% | 24.7% | ||
| Q2 25 | 9.3% | 26.4% | ||
| Q1 25 | 4.1% | 24.0% | ||
| Q4 24 | 5.8% | 9.2% | ||
| Q3 24 | -1.7% | 23.2% | ||
| Q2 24 | 17.4% | 31.1% | ||
| Q1 24 | 8.2% | 31.9% |
| Q4 25 | 1.5% | 1.4% | ||
| Q3 25 | -4.0% | 18.1% | ||
| Q2 25 | 6.1% | 19.6% | ||
| Q1 25 | 1.8% | 17.8% | ||
| Q4 24 | 3.5% | 5.8% | ||
| Q3 24 | -2.1% | 17.4% | ||
| Q2 24 | 17.5% | 23.1% | ||
| Q1 24 | 5.7% | 23.8% |
| Q4 25 | $0.04 | $0.03 | ||
| Q3 25 | $-0.08 | $0.48 | ||
| Q2 25 | $0.19 | $0.71 | ||
| Q1 25 | $0.05 | $0.56 | ||
| Q4 24 | $0.10 | $0.10 | ||
| Q3 24 | $-0.04 | $0.37 | ||
| Q2 24 | $0.60 | $0.80 | ||
| Q1 24 | $0.17 | $0.82 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $22.4M | $3.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $363.2M | $1.0B |
| Total Assets | $548.6M | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $3.8M | ||
| Q3 25 | $18.0M | $11.4M | ||
| Q2 25 | $25.2M | $5.5M | ||
| Q1 25 | $26.7M | $5.0M | ||
| Q4 24 | $39.1M | $1.3M | ||
| Q3 24 | $35.5M | $12.8M | ||
| Q2 24 | $60.8M | $1.2M | ||
| Q1 24 | $47.4M | $3.1M |
| Q4 25 | $363.2M | $1.0B | ||
| Q3 25 | $364.4M | $1.0B | ||
| Q2 25 | $372.5M | $989.3M | ||
| Q1 25 | $366.9M | $910.1M | ||
| Q4 24 | $371.5M | $850.1M | ||
| Q3 24 | $380.0M | $887.9M | ||
| Q2 24 | $399.9M | $894.9M | ||
| Q1 24 | $376.4M | $804.1M |
| Q4 25 | $548.6M | $1.5B | ||
| Q3 25 | $554.6M | $1.5B | ||
| Q2 25 | $559.6M | $1.5B | ||
| Q1 25 | $578.9M | $1.6B | ||
| Q4 24 | $587.4M | $1.3B | ||
| Q3 24 | $571.3M | $1.3B | ||
| Q2 24 | $577.4M | $1.3B | ||
| Q1 24 | $570.6M | $1.3B |
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 | $27.3M | $65.5M |
| Free Cash FlowOCF − Capex | $16.3M | $22.1M |
| FCF MarginFCF / Revenue | 13.1% | 13.7% |
| Capex IntensityCapex / Revenue | 8.8% | 26.9% |
| Cash ConversionOCF / Net Profit | 14.22× | 28.45× |
| TTM Free Cash FlowTrailing 4 quarters | $21.3M | $134.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.3M | $65.5M | ||
| Q3 25 | $-8.1M | $196.9M | ||
| Q2 25 | $40.8M | $249.8M | ||
| Q1 25 | $-9.8M | $-154.0M | ||
| Q4 24 | $-7.4M | $-8.5M | ||
| Q3 24 | $-30.8M | $132.8M | ||
| Q2 24 | $43.7M | $193.7M | ||
| Q1 24 | $25.2M | $-174.0M |
| Q4 25 | $16.3M | $22.1M | ||
| Q3 25 | $-12.4M | $142.9M | ||
| Q2 25 | $33.5M | $203.0M | ||
| Q1 25 | $-16.1M | $-233.5M | ||
| Q4 24 | $-10.7M | $-89.3M | ||
| Q3 24 | $-35.5M | $54.5M | ||
| Q2 24 | $38.2M | $158.2M | ||
| Q1 24 | $7.0M | $-211.8M |
| Q4 25 | 13.1% | 13.7% | ||
| Q3 25 | -14.6% | 50.1% | ||
| Q2 25 | 23.8% | 52.3% | ||
| Q1 25 | -13.9% | -68.7% | ||
| Q4 24 | -8.3% | -53.3% | ||
| Q3 24 | -40.2% | 23.3% | ||
| Q2 24 | 24.0% | 42.0% | ||
| Q1 24 | 5.1% | -56.7% |
| Q4 25 | 8.8% | 26.9% | ||
| Q3 25 | 5.0% | 18.9% | ||
| Q2 25 | 5.2% | 12.1% | ||
| Q1 25 | 5.4% | 23.4% | ||
| Q4 24 | 2.5% | 48.2% | ||
| Q3 24 | 5.3% | 33.5% | ||
| Q2 24 | 3.5% | 9.4% | ||
| Q1 24 | 13.2% | 10.1% |
| Q4 25 | 14.22× | 28.45× | ||
| Q3 25 | — | 3.80× | ||
| Q2 25 | 4.73× | 3.29× | ||
| Q1 25 | -4.68× | -2.55× | ||
| Q4 24 | -1.63× | -0.87× | ||
| Q3 24 | — | 3.27× | ||
| Q2 24 | 1.57× | 2.23× | ||
| Q1 24 | 3.20× | -1.95× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
