Sturm Ruger & Company (NYSE: RGR) is a firearms manufacturing company that designs and produces pistols, revolvers, rifles, and shotguns for the commercial and law enforcement markets. Revenue is transactional, generated by selling firearms and accessories through a network of federally licensed wholesale distributors who resell to retail dealers and ultimately to end consumers. Over 90% of sales flow through 13 domestic wholesale distributors, with three customers (Lipsey's, Sports South, and Davidson's) collectively representing 67% of firearms sales in FY2025. Net firearms sales were $150.6 million in FY2025, with accessories contributing $27.4 million and castings $2.6 million of the $151.1 million total. Gross margin compressed to 17.8% in FY2025 from 22.8% in FY2024. The company shipped 1,504,000 units in FY2025 at an average sales price of $364. RGR operates manufacturing facilities in Newport, New Hampshire; Prescott, Arizona; Mayodan, North Carolina; and Hebron, Kentucky. Todd W. Seyfert became President and CEO effective March 1, 2025, succeeding Christopher J. Killoy.

Revenue model

Transactional sales of firearms and accessories to federally licensed wholesale distributors at an average unit price of $364 (FY2025). Accessories and replacement parts contributed $27.4 million in FY2025. A small castings segment (external sales of $2.6 million in FY2025) sells precision castings to third parties.

Products and services

Pistols, revolvers (net sales of $39.2 million in FY2025), rifles, shotguns, and firearm accessories and replacement parts ($27.4 million in FY2025). The company also operates a castings segment that sells investment castings externally ($2.6 million in FY2025).

Customers and end markets

Primary customers are 13 federally licensed domestic wholesale distributors. Top three distributors in FY2025: Lipsey's (27% of firearms sales), Sports South (22%), and Davidson's (18%). End users include sportsmen, hunters, self-defense consumers, law enforcement, government organizations, and collectors. An additional 26 distributors service the domestic law enforcement market and 44 service the export market.

Value-chain role

Manufacturer and brand owner. RGR manufactures firearms and sells exclusively through independent wholesale distributors, who resell to federally licensed retail dealers, who then sell to end consumers subject to point-of-sale background checks. The company does not operate retail stores.

Geographic exposure

Primarily domestic U.S. market. Export sales served through 44 international distributors. Manufacturing facilities located in Newport, New Hampshire (350,000 sq ft, owned); Prescott, Arizona (230,000 sq ft, leased); Mayodan, North Carolina (220,000 sq ft, owned); Hebron, Kentucky (65,000 sq ft, owned); and Earth City, Missouri (35,000 sq ft, leased, castings).

Source: SEC 10-K, filed 2026-03-02

Industry: Ordnance & Accessories, (No Vehicles/Guided Missiles) Peers: Acushnet Holdings Corp Smith & Wesson Brands Inc Clarus Corp Hasbro Inc Johnson Outdoors Inc Latham Group Inc Malibu Boats Inc Peloton Interactive Inc Vista Outdoor Inc. Yeti Holdings Inc