SharkNinja, Inc. (SN): A Bull Case Theory 

We came across a bullish thesis on SharkNinja, Inc. on RM Capital Partnership’s Substack. In this article, we will summarize the bulls’ thesis on SN. SharkNinja, Inc.’s share was trading at $94.35 as of October 6th. SN’s trailing and forward P/E were 27.63 and 17.21 respectively according to Yahoo Finance.

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SharkNinja (NYSE: SN) has evolved into a leading global player in the small domestic appliances (SDA) market, addressing everyday consumer needs across cleaning, cooking, food preparation, beauty, and home environment. Rising labor costs, dual-income households, and urbanization are driving demand for mechanized, time-saving appliances, making SharkNinja’s products both convenient and financially rational.

The company operates in a $130 billion global SDA industry, which is highly fragmented, innovation-driven, and shaped by rising labor costs, health and wellness trends, urban living, and e-commerce adoption. North America remains the largest market, Europe values design and energy efficiency, and Asia represents the fastest-growing region. Brands that combine performance, rapid innovation, affordability, and retail presence, qualities SharkNinja excels in capturing lasting consumer trust.

SharkNinja’s roots trace to the 1990s as Euro-Pro, initially selling home appliances via infomercials. Over three decades, the company expanded into a $5.5+ billion global business, launching 50+ SKUs annually, entering international markets, and building strong partnerships with major retailers including Walmart, Target, Costco, Amazon, and Best Buy. In 2023, the spin-off from JS Global created an independent, U.S.-domiciled entity, enabling simplified governance, strategic reinvestment, and accelerated growth in beauty and air-care categories. Revenue has grown at a 21% CAGR with ~49% gross margins and 13% operating margins.

SharkNinja’s competitive advantage lies in its integrated operating model: deep consumer insights drive innovation, a multi-country agile supply chain ensures quality and cost efficiency, disciplined pricing and assortment strategies preserve margins, and omnichannel marketing converts product launches into scalable demand. This consumer-led, innovation-driven flywheel consistently strengthens brand loyalty, captures market share, and compounds long-term growth, positioning SharkNinja as a durable, high-performing leader in the global SDA industry.

Previously we covered a bullish thesis on SharkNinja, Inc. (SN) by LongTermValue Research in April 2025, which highlighted strong product launches, sales growth, and attractive valuation. The company’s stock price has appreciated approximately by 12.1% since our coverage. The thesis still stands as SharkNinja continues to deliver innovation and free cash flow. RM Capital Partnership shares a similar view but emphasizes the 2023 spin-off and global SDA expansion.

SharkNinja, Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held SN at the end of the second quarter which was 69 in the previous quarter. While we acknowledge the risk and potential of SN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.