SharkNinja
SNNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $226.50 Prior regular-session close from the quote source.
- $224.03–$228.63 Regular-session low and high so far today.
- 1.3M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 3 projected Projected for 2027-02-03 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $83.21–$232.76 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own SN if its brand-led household-appliance innovation engine keeps winning consumer demand and retailer shelf space at profitable prices, rather than becoming promotion-dependent durable-goods growth.
SN price history
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Investment thesis
What must happen next
SharkNinja’s product-innovation engine continues to create consumer pull in household appliances, so growth is driven by successful adoption rather than one-time channel fill.StrengtheningMateriality: High
GAAP annual revenue increased from $3.717 billion in FY2022 to $6.399 billion in FY2025. If true, SharkNinja deserves to be analyzed as a repeatable consumer-products compounder; if false, growth can fade quickly as product cycles mature.
Watch: Major retailers reduce SharkNinja shelf space or online placement because recent product launches underperform sell-through expectations.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue increased from $3.717 billion in FY2022 to $6.399 billion in FY2025.
Open source ↗The SharkNinja brand and feature set allow the company to sell appliances without relying primarily on discounting, keeping gross economics resilient despite competitive categories.StrengtheningMateriality: High
GAAP annual gross profit increased from $1.410 billion in FY2022 to $3.136 billion in FY2025. Pricing power determines whether growth compounds value or merely buys volume at lower returns.
Watch: Dyson, Breville, Bissell, Hamilton Beach or private-label competitors force price matching on comparable products.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit increased from $1.410 billion in FY2022 to $3.136 billion in FY2025.
Open source ↗SharkNinja’s operating model can scale product launches and global-market reach faster than overhead, so incremental growth expands operating profit rather than being consumed by marketing and distribution costs.StrengtheningMateriality: Medium
GAAP annual operating income rose from $321.4 million in FY2022 to $920.3 million in FY2025. Operating leverage is what converts brand momentum into shareholder earnings power; without it, the company is just spending more to grow.
Watch: International expansion requires materially higher advertising, logistics or local-market support before meaningful sell-through develops.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income rose from $321.4 million in FY2022 to $920.3 million in FY2025.
Open source ↗The business can fund innovation, inventory and market expansion from internally generated cash rather than relying on rising leverage.StrengtheningMateriality: Medium
GAAP annual operating cash flow increased from $205.0 million in FY2022 to $634.1 million in FY2025. Cash-funded growth gives owners more durable compounding and reduces the risk that working-capital needs or debt dilute the benefits of growth.
Watch: Retail partners lengthen payment terms or require heavier inventory commitments, causing working capital to absorb growth.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow increased from $205.0 million in FY2022 to $634.1 million in FY2025.
Open source ↗SharkNinja’s growth is translating into per-share earnings power, implying the operating engine is not being offset by dilution, financing burden or margin leakage.StrengtheningMateriality: Medium
GAAP diluted EPS increased from $1.20 in FY2023 to $4.94 in FY2025. Owners ultimately need per-share value creation, not just brand growth or higher sales.
Watch: Equity compensation, secondary issuance or acquisition consideration materially increases diluted shares and offsets operating gains.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP diluted EPS increased from $1.20 in FY2023 to $4.94 in FY2025.
Open source ↗
Full investment case & evidence
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Original research
SharkNinja’s product-innovation engine continues to create consumer pull in household appliances, so growth is driven by successful adoption rather than one-time channel fill. If true, SharkNinja deserves to be analyzed as a repeatable consumer-products compounder; if false, growth can fade quickly as product cycles mature.
The SharkNinja brand and feature set allow the company to sell appliances without relying primarily on discounting, keeping gross economics resilient despite competitive categories. Pricing power determines whether growth compounds value or merely buys volume at lower returns.
SharkNinja’s operating model can scale product launches and global-market reach faster than overhead, so incremental growth expands operating profit rather than being consumed by marketing and distribution costs. Operating leverage is what converts brand momentum into shareholder earnings power; without it, the company is just spending more to grow.
The business can fund innovation, inventory and market expansion from internally generated cash rather than relying on rising leverage. Cash-funded growth gives owners more durable compounding and reduces the risk that working-capital needs or debt dilute the benefits of growth.
SharkNinja’s growth is translating into per-share earnings power, implying the operating engine is not being offset by dilution, financing burden or margin leakage. Owners ultimately need per-share value creation, not just brand growth or higher sales.
All standing thesis claims
Original report summary
its brand-led household-appliance innovation engine keeps winning consumer demand and retailer shelf space at profitable prices, rather than becoming promotion-dependent durable-goods growth.
Bull case and bear case
Bull case and bear case for SharkNinja
Where the evidence on SharkNinja stands: Strengthening on the latest evidence (Oct 13, 2026). Of its 5 thesis points, 5 strengthening.
Bull case: what the evidence supports
SharkNinja’s product-innovation engine continues to create consumer pull in household appliances, so growth is driven by successful adoption rather than one-time channel fill.
The SharkNinja brand and feature set allow the company to sell appliances without relying primarily on discounting, keeping gross economics resilient despite competitive categories.
SharkNinja’s operating model can scale product launches and global-market reach faster than overhead, so incremental growth expands operating profit rather than being consumed by marketing and distribution costs.
The business can fund innovation, inventory and market expansion from internally generated cash rather than relying on rising leverage.
SharkNinja’s growth is translating into per-share earnings power, implying the operating engine is not being offset by dilution, financing burden or margin leakage.
Bear case: what would count against it
Major retailers reduce SharkNinja shelf space or online placement because recent product launches underperform sell-through expectations.
Dyson, Breville, Bissell, Hamilton Beach or private-label competitors force price matching on comparable products.
International expansion requires materially higher advertising, logistics or local-market support before meaningful sell-through develops.
Thesis-Break Engine
What has broken in SharkNinja’s thesis
Each break OptimistFi flagged on SharkNinja, dated — with what has historically followed the same kind of break across the market, not a forecast for SharkNinja.
- Price target fell below the stockcondition set before this filing
Across all companies, this kind of break has happened 1,809 times before. Those stocks trailed comparable companies by a median of 1% over the next six months, and 33% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
SharkNinja filed an SEC 8-K on 2026-08-05: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedOther material event.
SharkNinja filed an SEC 8-K on 2026-07-13: Other material event. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
SharkNinja filed an SEC 8-K on 2026-05-06: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Major retailers reduce SharkNinja shelf space or online placement because recent product launches underperform sell-through expectations.
- Dyson, Breville, Bissell, Hamilton Beach or private-label competitors force price matching on comparable products.
- International expansion requires materially higher advertising, logistics or local-market support before meaningful sell-through develops.
- Retail partners lengthen payment terms or require heavier inventory commitments, causing working capital to absorb growth.
- Equity compensation, secondary issuance or acquisition consideration materially increases diluted shares and offsets operating gains.
SN news
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Financial statements
SN income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
SN: quick answers
- When does SharkNinja (SN) report earnings next?
- SharkNinja's next results are projected for February 3, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 4, 2026. Earnings calendar
- What is SN's short interest?
- As of October 30, 2026, 8.0M SN shares were sold short, 5.66% of its shares outstanding, down 8.1% from the count before. At the stock's average daily volume that is 6.3 days to cover. FINRA publishes the count twice a month. SN short interest history
- Have members of Congress traded SN?
- 1 trade in SN has been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed SN trade
- Which well-known investors own SN?
- 2 of the 37 well-known funds tracked here reported SN shares in their latest 13F filings. By share of the fund's portfolio: Miller Value Partners (Bill Miller), 0.2%; Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
SN in well-known investors’ portfolios
2 of 37 funds reported SN shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Bill MillerMiller Value Partners | 0.21% | $903K | +2.7% | Q2 2026 |
| Ray DalioBridgewater Associates | 0.00% | $730K | −97.7% | Q2 2026 |