One-glance verdict
Undervalued
$7.21 our estimate vs market $2.33
Wall Street consensus: $3.50 (-51.4% lower than our fair-value estimate)
68% below our estimate, below the bear case
Fundamentals snapshot
Outdoor Holding Company
POWW · NCM · Industrials · Aerospace & Defense
Current price
$2.33
52-week range
$1.42 - $2.67
Market cap
$269.84M
Balance sheet
Healthy
-3.56x Concerning
Net cash $57.90M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Revenue grew 5.1% last year.
- Reward Returns 2.0% on equity, ahead of 50% of its peers.
- Reward Free cash flow was positive in 2/10 years.
What this company does
Outdoor Holding Company
Outdoor Holding Company runs GunBroker.com, an online auction site that works like an eBay for firearms, ammunition, and hunting accessories. The company makes money by taking a small fee from each sale on its platform, which is important because it acts as a central meeting place for a large community of buyers and sellers in a regulated market.
How the company got here
Originally an ammunition manufacturer named AMMO, Inc., the company made a major shift by acquiring GunBroker.com, the largest online marketplace for firearms and accessories, in 2021. This moved the company into the world of e-commerce (online shopping). In April 2025, the company sold its ammunition manufacturing business to focus entirely on its profitable online marketplace. To reflect this new focus, the company changed its name to Outdoor Holding Company.
What it actually does
Outdoor Holding Company doesn't sell any products directly. Instead, it operates GunBroker.com, an online marketplace similar to eBay, but specifically for firearms, ammunition, hunting gear, and related accessories. Third-party sellers, which can be individuals or licensed dealers, list their items for sale, and buyers bid on them or purchase them at a fixed price. The company's role is to provide a safe and legal platform for these transactions to happen, connecting buyers and sellers across the country.
GunBroker.com Marketplace
This is the company's only business. It makes money by charging fees to the sellers who use its website to list and sell their products. These products include a wide range of items for shooting and outdoor sports, like firearms, ammunition, and hunting accessories. Because it is just a marketplace, the company does not own any of the items being sold; it simply facilitates the sales between other people and businesses in a way that complies with all state and federal laws.
What management is betting on now
The company's leadership is focused on growing its online marketplace, GunBroker.com. After selling the ammunition manufacturing part of the business, the strategy is to be a technology-focused e-commerce company. They are concentrating on improving the website experience for users and expanding the types of outdoor gear and experiences offered to attract more customers. The goal is to build on GunBroker.com's leading position in the online firearms market to increase long-term profitability (the ability to make a profit from its sales).
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q2
$-10.77M
FY2025 Q3
$55.04K
FY2025 Q4
$-2.18M
FY2026 Q1
$-7.56M
FY2026 Q2
$2.52M
FY2026 Q3
$5.04M
FY2026 Q4
$-1.92M
FY2027 Q1
$3.76M
Revenue
$14.48M
Net income
$3.57M
Diluted EPS
0.02
Operating cash flow
$4.43M
Free cash flow
$3.76M
Fetching…
Sources
Revenue
$13.89M
Net income
$-714.39K
Diluted EPS
-0.01
Operating cash flow
$-1.26M
Free cash flow
$-1.92M
Fetching…
Sources
Revenue
$13.39M
Net income
$2.23M
Diluted EPS
0.01
Operating cash flow
$5.68M
Free cash flow
$5.04M
Fetching…
Sources
Revenue
$11.98M
Net income
$1.40M
Diluted EPS
0.01
Operating cash flow
$3.22M
Free cash flow
$2.52M
Fetching…
Sources
Revenue
$11.86M
Net income
$-6.46M
Diluted EPS
-0.06
Operating cash flow
$-6.67M
Free cash flow
$-7.56M
Fetching…
Sources
Revenue
$-42.16M
Net income
$-85.22M
Diluted EPS
-0.73
Operating cash flow
$-1.53M
Free cash flow
$-2.18M
Fetching…
Sources
Revenue
$29.19M
Net income
$-26.13M
Diluted EPS
-0.23
Operating cash flow
$1.27M
Free cash flow
$55.04K
Fetching…
Sources
Revenue
$31.42M
Net income
$-12.43M
Diluted EPS
-0.11
Operating cash flow
$-9.34M
Free cash flow
$-10.77M
Fetching…
Sources
Is it cheap or expensive?
Fair value $7.21 vs current price $2.33
Wall Street consensus is the average analyst price target: $3.50 (-51.4% lower than our fair-value estimate).
Our most-likely fair value is $7.21 a share — about 210.0% above today's price of $2.33, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net cash $57.9M - more cash than debt. Interest coverage -3.6x.
Net debt
$-57.90M
Interest coverage
-3.56x
Outdoor Holding Company's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
POWW
BASELINE
Outdoor Holding Company
Total debt $10.88M Interest coverage -3.56x This is the baseline the peer rows are being compared against.
Total debt $72.76M Interest coverage 6.07x This peer still has a real interest-payment cushion, while POWW does not.
Total debt $1.49M Interest coverage -128.85x Neither company has much profit cushion over interest right now.
Total debt $17.15M Interest coverage -3.40x Neither company has much profit cushion over interest right now.
Total debt $3.41B Interest coverage 0.21x This peer still has a real interest-payment cushion, while POWW does not.
Total debt $32.01M Interest coverage -7.32x Neither company has much profit cushion over interest right now.
What you should know
The case for and against POWW
3 Rewards
0 Risks
Rewards
-
Revenue grew 5.1% last year.
-
Returns 2.0% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 2/10 years.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
116.25x
Forward P/E
—
P/B
1.14x
P/S
5.02x
EV/EBITDA
9.50x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
87.8%
Operating margin
22.8%
Net margin
12.1%
ROE
2.0%
ROA
2.4%
Health
Liquidity and balance-sheet strength
Debt / equity
0.05x
Current ratio
4.74x
Quick ratio
4.51x
Total debt
$10.88M
Total cash
$68.78M
Growth
How the business has been compounding
Revenue TTM
$53.75M
Revenue 5Y CAGR
-32.1%
EPS TTM
0.02
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$12.07M
Free CF TTM
$-1.93M
FCF margin
-3.6%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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