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SIG

Signet Jewelers Limited

SIG

Signet Jewelers Limited • NYSE
$100.16 ▼ -3.20% (-3.31)
Market Cap $4.10 B
52w High $110.20
52w Low $45.55
Dividend Yield 1.28%
P/E 34.07
Volume 465.42K
Outstanding Shares 40.95M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $1.535B ▼ $589.1M ▲ $-9.1M ▼ -0.593% ▼ $-0.22 ▼ $42.2M ▼
Q1-2026 $1.542B ▼ $550.7M ▼ $33.5M ▼ 2.173% ▼ $0.79 ▼ $107.3M ▼
Q4-2025 $2.353B ▲ $849M ▲ $100.6M ▲ 4.276% ▲ $2.28 ▲ $402.2M ▲
Q3-2025 $1.349B ▼ $476.1M ▼ $7M ▲ 0.519% ▲ $0.12 ▲ $51.2M ▼
Q2-2025 $1.491B $667.2M $-98.5M -6.606% $-2.28 $104.4M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $281.4M ▲ $5.343B ▼ $3.615B ▼ $1.728B ▼
Q1-2026 $264.1M ▼ $5.452B ▼ $3.676B ▼ $1.776B ▼
Q4-2025 $604M ▲ $5.727B ▲ $3.875B ▼ $1.852B ▲
Q3-2025 $157.7M ▼ $5.685B ▲ $3.886B ▲ $1.799B ▼
Q2-2025 $403.1M $5.614B $3.474B $2.14B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-9.1M ▼ $86.3M ▲ $-24.1M ▲ $-45.3M ▲ $17.3M ▲ $62.3M ▲
Q1-2026 $33.5M ▼ $-175.3M ▼ $-36.6M ▲ $-137.3M ▲ $-339.9M ▼ $-211.9M ▼
Q4-2025 $100.6M ▲ $780.7M ▲ $-38.1M ▲ $-291M ▼ $446.3M ▲ $742.1M ▲
Q3-2025 $7M ▲ $-75.4M ▼ $-63.8M ▼ $-106.6M ▲ $-245.4M ▲ $-138.5M ▼
Q2-2025 $-98.5M $43.8M $-35.7M $-334.4M $-326.2M $15.8M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q2-2026
Bridal
Bridal
 $670.00M ▲$630.00M ▼$900.00M ▲$670.00M ▼
Fashion
Fashion
 $540.00M ▲$450.00M ▼$1.08Bn ▲$540.00M ▼
Service
Service
 $180.00M ▲$170.00M ▼$210.00M ▲$190.00M ▼
Watches
Watches
 $70.00M ▲$70.00M ▲$120.00M ▲$80.00M ▼
Other Product
Other Product
 $30.00M ▲$30.00M ▲$100.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has been roughly flat to slightly down over the last few years after a strong post‑pandemic surge, which suggests the business is normalizing in a tougher consumer environment. Profitability improved meaningfully in the middle of the period but has recently come under pressure, with operating and net income now much closer to breakeven than in prior years. This points to margin compression, likely from softer demand, higher promotions, or cost inflation. Earnings per share have also been volatile, which hints at one‑off items, share count changes, or other accounting factors that make headline results choppy from year to year. Overall, the income statement shows a solid but highly cyclical retailer dealing with a more challenging phase of the cycle.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid, with asset levels steady and debt gradually edging down over time rather than up. Cash reserves are lower than during the strongest years but still provide a useful cushion, though not as much as before. Shareholders’ equity had been building as profits were retained, but the latest year shows some erosion, consistent with weaker earnings and possible capital returns. Leverage does not appear excessive, but the balance sheet is not as flush as it was at the peak of post‑pandemic strength, leaving less room for prolonged weakness if trends worsen.

Cash Flow

Cash Flow Cash generation is a relative bright spot. Operating cash flow has been consistently positive, even as reported earnings have swung around, which suggests working capital and non‑cash items are being managed effectively. Free cash flow has also remained positive year after year after funding a modest and stable level of capital spending. This pattern indicates that, despite recent profit pressure, the business continues to throw off real cash that can be used for debt reduction, buybacks, dividends, or reinvestment. The main risk is that a deeper or longer downturn in jewelry demand could eventually flow through to weaker cash generation as well.

Competitive Edge

Competitive Edge Signet holds a very strong position as the largest diamond jewelry retailer in its main markets, with well‑known banners like Kay, Zales, Jared, James Allen, and Blue Nile. Its scale gives it advantages in sourcing, marketing, and operations that smaller jewelers and many online‑only players struggle to match. A wide portfolio of brands lets Signet target different customer segments and price points, from value‑oriented shoppers to more premium buyers, reducing reliance on any single group. Vertical integration and long‑established brand trust provide additional insulation, particularly important in big‑ticket, emotionally driven purchases like bridal jewelry. The main competitive risks are shifts in consumer taste, the rise of alternative jewelry channels, and the ongoing battle between natural and lab‑grown diamonds, which could reshape pricing and customer expectations.

Innovation and R&D

Innovation and R&D While not a traditional R&D‑heavy company, Signet has been investing aggressively in technology and customer experience. Its “Connected Commerce” approach blends online and in‑store shopping, using tools like virtual try‑on, high‑definition diamond viewing, and AI‑driven personalization to make buying jewelry more convenient and less intimidating. Data analytics and a large loyalty program give Signet deep insight into customer behavior, supporting more targeted marketing and better inventory management. The company is also repositioning its store base, emphasizing off‑mall locations and tightly integrating digital journeys with in‑person consultations. Future upside depends on how well these innovations translate into higher engagement in bridal, fashion, and self‑purchase jewelry, and whether they can sustain margins through higher‑value services and differentiated designs.

Summary

Signet is a mature, cyclical retailer that used a period of strong demand to strengthen its finances, but is now feeling the impact of a softer consumer backdrop and tighter margins. The business still generates solid cash flow and carries manageable debt, providing some resilience even as profits dip. Its core strengths lie in scale, brand recognition, and a growing edge in technology‑enabled retailing, all of which help defend market share in a fragmented and changing jewelry landscape. At the same time, results remain sensitive to economic conditions, shifts in bridal and fashion trends, and competition from both online specialists and independent jewelers. The key questions going forward are whether its connected commerce, service expansion, and “Grow Brand Love” initiatives can offset cyclical headwinds and support a return to more robust, sustainable profitability.

NEWS

November 4, 2025 · 7:30 AM UTC

Signet Jewelers Announces Timing of Fiscal 2026 Third Quarter Earnings Release and Conference Call

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October 30, 2025 · 2:22 PM UTC

Sitka Gold Closes $28.5 Million Financing

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October 8, 2025 · 4:53 PM UTC

Sitka Gold Announces $25 Million Bought Deal Financing

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September 2, 2025 · 6:50 AM UTC

Signet Jewelers Reports Second Quarter Fiscal 2026 Results

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