SharkNinja
SN NYSE Household Appliances Financials FY2021–FY2025
SharkNinja's revenue rose 15.8% to $6.4 billion in fiscal 2025. Its operating margin was 14.4%, up from 11.7% a year earlier. Free cash flow was $488 million, up 58.0%. The diluted share count rose 0.7%.
What SharkNinja does
SharkNinja designs small household appliances sold under two brands. Shark is best known for vacuums and floor care, and Ninja for kitchen appliances. Its products include vacuums, carpet cleaners, fans, air purifiers, beauty products, blenders, frozen drink makers, espresso machines and outdoor cooking products. It sells through most major retailers and distributors, and also directly to shoppers through its websites and infomercials, in 38 markets.
Net sales grew by $870.5 million, or 15.7%, in 2025. Cleaning appliances brought in $2,205.8 million, cooking and beverage appliances $1,816.3 million, food preparation appliances $1,550.7 million, and beauty and home environment products $826.3 million. The US made up 62.5% of sales. The company reports one segment. Shark competes with Dyson, Hoover and Bissell; Ninja with Vitamix, De'Longhi, Breville, Hamilton Beach, Cuisinart and others. SharkNinja says most of its rivals sell at lower prices, with exceptions such as Dyson and Vitamix.
SharkNinja doesn't make its own products. Outside suppliers, mostly in China, manufacture them, while its own engineers and designers in the US, the UK and China develop them. It had about 4,143 employees in about 13 countries at the end of 2025.
- Legal name
- SHARKNINJA, INC.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 2, 2026
- Accession · CIK
- 0001957132-26-000015
0001957132
Revenue and margins
SharkNinja had $6.4B of revenue in fiscal 2025, up 15.8% on the year before.
Net income and earnings per share
From fiscal 2021 to 2025, diluted EPS grew 20.0% a year. Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $488M in fiscal 2025, 7.6% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
SharkNinja returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 0.7%.
Value SharkNinja yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of $41.2M and divides by 142.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 39.8x · peers 14.1x · sector 17.7x.
Balance sheet
Cash, debt and the ratios that show how comfortably SharkNinja can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $225M | $193M | $154M | $364M | $777M |
| Debt incl. finance leases | — | $436M | $800M | $776M | $736M |
| Net debt / EBITDA | — | 0.6x | 1.4x | 0.5x | −0.0x |
| Debt / equity | — | 0.2x | 0.5x | 0.4x | 0.3x |
| Interest coverage | 36.5x | 19.7x | 7.3x | 10.0x | 18.2x |
| Current ratio | — | 1.8x | 1.7x | 1.7x | 2.0x |
| Quick ratio | — | 1.2x | 1.1x | 1.1x | 1.5x |
| Total assets | — | $3.3B | $3.5B | $4.4B | $5.3B |
| Total liabilities | — | $1.5B | $2.0B | $2.5B | $2.7B |
| Shareholders' equity | $1.8B | $1.8B | $1.5B | $1.9B | $2.7B |
| Net debt (− = net cash) | — | $243M | $646M | $412M | −$41.2M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$577M
6 insiders
Of sales under plans
27%
$156M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 26, 2026 | Neil B. ShahChief Commercial Officer | Sold | 50,000 | $186.36 | $9.3M | Form 4 |
| Aug 20, 2026 | Peter FeldDirector | Sold | 5,000 | $180.00 | $0.9M | Form 4 |
| Aug 10, 2026 | Neil B. ShahChief Commercial Officer | Sold | 20,333 | $184.69 | $3.8M | Form 4 |
| Aug 7, 2026 | Adam QuigleyChief Financial Officer | Sold | 1,750 | $183.94 | $0.3M | Form 4 |
| Aug 7, 2026 | Neil B. ShahChief Commercial Officer | Sold | 29,667 | $186.76 | $5.5M | Form 4 |
| Aug 6, 2026 | Mark BarrocasChief Executive Officer, Director | Sold plan | 250,000 | $185.00 | $46.3M | Form 4 |
| Aug 5, 2026 | Mark BarrocasChief Executive Officer, Director | Sold plan | 250,000 | $170.00 | $42.5M | Form 4 |
| Jul 17, 2026 | Mark BarrocasChief Executive Officer, Director | Sold plan | 250,000 | $155.01 | $38.8M | Form 4 |
| Jul 10, 2026 | Xuning WangDirector, 10% owner | Sold | 2,668,200 | $150.36 | $401M | Form 4 |
| Jun 25, 2026 | Mark BarrocasChief Executive Officer, Director | Sold plan | 100,000 | $145.00 | $14.5M | Form 4 |
| Jun 18, 2026 | Mark BarrocasChief Executive Officer, Director | Sold plan | 100,000 | $140.00 | $14.0M | Form 4 |
| Jun 4, 2026 | Pedro J. Lopez-BaldrichChief Legal Officer | Sold | 2,200 | $122.60 | $0.3M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✕ |
| Debt fell relative to assets | — | ✓ | ✓ |
| Current ratio rose | ✕ | ✓ | ✓ |
| Share count didn't rise | ✕ | ✕ | ✕ |
| Gross margin rose | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | — | ✓ | ✕ |
| F-score | — / 9 | 8 / 9 | 6 / 9 |
| Accruals ratio | −3.4% | −0.2% | 1.4% |
| Altman Z'' | 3.39 | 4.15 | 5.44 |
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5 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $3.7B | $3.7B | $4.3B | $5.5B | $6.4B |
| Gross profit | $1.4B | $1.4B | $1.9B | $2.7B | $3.1B |
| Research and development | $201M | $216M | $249M | $341M | $368M |
| Operating income | $438M | $321M | $374M | $644M | $920M |
| Interest expense | $12.0M | $16.3M | $51.1M | $64.7M | $50.5M |
| Pretax income | $414M | $302M | $293M | $573M | $900M |
| Income tax | $83.2M | $69.6M | $126M | $134M | $199M |
| Net income | $331M | $232M | $167M | $439M | $701M |
| Diluted EPS | $2.38 | $1.67 | $1.20 | $3.11 | $4.94 |
| Diluted shares | 0.14B | 0.14B | 0.14B | 0.14B | 0.14B |
| Cash flow | |||||
| Cash from operations | $229M | $205M | $281M | $447M | $634M |
| Capital expenditure | $48.0M | $80.3M | $123M | $138M | $146M |
| Free cash flow | $181M | $125M | $158M | $309M | $488M |
| Depreciation and amortization | $78.2M | $86.7M | $104M | $123M | $140M |
| Stock-based compensation | $13.9M | $5.5M | $47.0M | $84.5M | $43.9M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends paid | $0.0M | $0.0M | $150M | $0.0M | $0.0M |
| Dividends and buybacks | $0.0M | $0.0M | $150M | $0.0M | $0.0M |
| Balance sheet | |||||
| Cash and short-term investments | $225M | $193M | $154M | $364M | $777M |
| Total debt | — | $436M | $800M | $776M | $736M |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | — | $1.7B | $1.9B | $2.6B | $3.6B |
| Current liabilities | — | $969M | $1.1B | $1.5B | $1.8B |
| Inventory | $0.0M | $549M | $700M | $900M | $1.0B |
| Property and equipment, net | — | $137M | $166M | $212M | $232M |
| Total assets | — | $3.3B | $3.5B | $4.4B | $5.3B |
| Total liabilities | — | $1.5B | $2.0B | $2.5B | $2.7B |
| Shareholders' equity | $1.8B | $1.8B | $1.5B | $1.9B | $2.7B |
| Margins | |||||
| Gross margin | 38.6% | 37.9% | 44.9% | 48.2% | 49.0% |
| Operating margin | 11.8% | 8.7% | 8.8% | 11.7% | 14.4% |
| EBITDA margin | 13.9% | 11.0% | 11.2% | 13.9% | 16.6% |
| Net margin | 8.9% | 6.3% | 3.9% | 7.9% | 11.0% |
| FCF margin | 4.9% | 3.4% | 3.7% | 5.6% | 7.6% |
| Returns | |||||
| Return on capital | — | — | 10.2% | 22.1% | 28.8% |
| Return on capital employed | — | — | 15.9% | 24.7% | 28.6% |
| Return on equity | — | — | 10.1% | 25.7% | 30.4% |
| Return on assets | — | — | 4.9% | 11.1% | 14.4% |
| Growth | |||||
| Revenue growth | — | −0.3% | 14.4% | 30.0% | 15.8% |
| Net income growth | — | −29.8% | −28.1% | 162.6% | 59.9% |
| EPS growth | — | −29.8% | −28.1% | 159.2% | 58.8% |
| FCF growth | — | −31.2% | 26.6% | 95.7% | 58.0% |
| Share count change | — | 0.0% | 0.3% | 1.2% | 0.7% |
| Financial health | |||||
| Net debt / EBITDA | — | 0.6x | 1.4x | 0.5x | −0.0x |
| Debt / equity | — | 0.2x | 0.5x | 0.4x | 0.3x |
| Interest coverage | 36.5x | 19.7x | 7.3x | 10.0x | 18.2x |
| Current ratio | — | 1.8x | 1.7x | 1.7x | 2.0x |
| Quick ratio | — | 1.2x | 1.1x | 1.1x | 1.5x |
| Capital allocation | |||||
| Capex / revenue | 1.3% | 2.2% | 2.9% | 2.5% | 2.3% |
| Stock comp / revenue | 0.4% | 0.2% | 1.1% | 1.5% | 0.7% |
| Payouts / FCF | 0.0% | 0.0% | 95.1% | 0.0% | 0.0% |
| Quality scores | |||||
| Piotroski F-score | — | — | — | 8.0 | 6.0 |
| Altman Z'' | — | 4.3 | 3.4 | 4.2 | 5.4 |
| Accruals ratio | — | — | −3.4% | −0.2% | 1.4% |
Source: SEC EDGAR XBRL filings (CIK 0001957132). Data updated October 23, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.