Who are Sturm, Ruger's biggest customers?

Lipsey’s accounts for 27% of Sturm, Ruger's revenue (FY2025 10-K). Other disclosed customers: Sports South 22%, Davidson’s 18%.

RGRSturm, Ruger & Company, Inc.

Industrials

$45.51+1.9% 1Y

$45.51

$28.6752 weeks$50.16

Is the business good?

Watch

Margins compressing. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.

1 to watch, 3 without data

Margin direction, 3 years−12.2 ptsderived

Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.

How good a business is RGR?

Sturm, Ruger & Company, Inc. earns 2.6% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.

2.6%

Return on invested capital · cost of capital 9.0% · 6.4 points below what the capital costs: growth destroys value

Operating margin: 0.97%
Operating margin · Aerospace & Defense median 9.6% · 12 months to Q2 2026
Share count, year on year: −0.60%
Share count, year on year · flat: no meaningful dilution
Gross margin: 19%
Gross margin

Operating margin by fiscal year
Year	Operating margin
FY2020	21%
FY2021	28%
FY2022	17%
FY2023	9.6%
FY2024	5.9%
FY2025	−2.3%

Details›

Gross margin12 months to Q2 2026: 19%
Operating margin12 months to Q2 2026: 0.97%
Net margin12 months to Q2 2026: 2.1%
Free cash flow margin: 8.2%
Revenue, trailing twelve months: $577M
Free cash flow, trailing twelve months: $47M
Net income, trailing twelve months: $12M
Return on invested capitaloperating profit after tax ÷ debt + equity − cash: 2.6%

Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.

Customers and suppliers

Who buys from RGR and who it buys from, as the companies report it.

27%of revenue comes from Lipsey’s, the largest of 3 disclosed customers

Customerswho buys

Lipsey’s
27%
Share of revenue · FY2025 10-K
Sports South
22%
Share of revenue · FY2025 10-K
Davidson’s
18%
Share of revenue · FY2025 10-K

Supplierswho it buys from

None disclosed.

A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; RGR’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.

Aerospace & Defense

Ranks #16 of 35 by RyuScore

Compare peers

RCAT+1.4%

Red Cat Holdings, Inc.

ELMT+4.0%

Elmet Group Co.

SWBI-4.4%

Smith & Wesson Brands

YSS+3.6%

York Space Systems, Inc.