SharkNinja FY26E Adj. EBITDA valuation

SharkNinja Inc. (SN)
By@grokius
Assumptions as of 2026-08-26
USD
Updated Aug 26, 2026 · Revised 1 time
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SharkNinja FY26E Adj. EBITDA valuation

Branded consumer-appliance growth valuation. Capitalize SharkNinja's FY2026 company-guided adjusted EBITDA at a target EV/EBITDA multiple, add net cash, and divide by diluted shares. This is an NTM/current-year growth multiple on the company's own Adj. EBITDA outlook, not a midcycle chemicals multiple and not an FCF-yield model: FY2025 FCF converted only about 43% of Adj. EBITDA because of working-capital and capex to fund growth. Street frames SN on Adj. EPS and Adj. EBITDA; the multiple is the thesis slider between distressed appliance peers (~8-12x) and a durable 15%+ compounder (low-20s).

as of 2026-08-26

Fair value per share
$201.29
Upside vs current price
19.2%
FY2026E adjusted EBITDA
1,363
FY2026E free cash flow
613
Implied enterprise value
28,623
Implied equity value
28,684
Current EV to FY26E Adj. EBITDA
17.61
Implied P/E on FY26E Adj. EPS
31.0

Capital structure

142.5millions
61USD millions

Cash conversion

45.0%

Earnings power

1,135.5USD millions
1,363USD millions
6.50USD

Market

168.84USD
Latest SN quote · updated Sep 9, 2026 12:22 PM MDT

Valuation

21.0

Adjusted EBITDA ($M)

FY2026E
Adjusted EBITDA1,363

Sources

  1. Q2 2026 net sales $1,765.5M (+22.2%), Adj. EBITDA $264.9M (15.0% of sales), Adj. EPS $1.26. Cash $779.8M and total debt $718.9M as of June 30, 2026. FY2026 outlook: net sales +16.0% to +17.0%, Adj. EPS $6.45-$6.55, Adj. EBITDA $1,357-$1,369M, diluted WASO ~142.5M, capex $190-$210M. CBP accepted ~$247.1M tariff refund claims; ~$30M of the Adj. EBITDA raise and ~$0.15 of the Adj. EPS raise is the 2026-vintage net refund, with 2025-vintage refunds excluded from adjusted metrics. — ir.sharkninja.com
  2. Q2 2026 10-Q: cash $779.8M, current debt $39.3M, noncurrent debt $677.1M, inventories $1,143.6M, 140,917,390 shares outstanding at June 30, 2026 and 140,871,552 as of July 30, 2026. H1 2026 operating cash flow $275.5M, PPE purchases $83.1M, share repurchases $119.7M. Q2 net sales by category: Cleaning $522.0M, Cooking and Beverage $499.0M, Food Prep $458.6M, Beauty and Home $285.8M. International $623.6M (+36.6%). — sec.gov
  3. FY2025 net sales $6,399.2M, Adj. EBITDA $1,135.5M (17.7% margin), GAAP net income $701.4M, operating cash flow $634.1M, PPE purchases $146.1M. — sec.gov
  4. Q2 2026 call: 13th consecutive double-digit sales quarter; domestic +15.5% and international +36.6%; management says core franchises still grow mid/high-single digits before new categories and international; tariffs remain the primary gross-margin headwind; buybacks ~$100M in Q2 at $122.29 average; capex tracking high end of $190-$210M. — fool.com
  5. Post-print Street cluster is Strong Buy / Moderate Buy with average target about $210 (Guggenheim $210, Canaccord $210, TD Cowen $205, Goldman $204, BofA $205, UBS $219, Piper $200, JPM $207). — stockanalysis.com

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