Firearm Background Checks Show Modest Growth in September Amid Ongoing Decline

Firearm background checks fell 10.8% YoY to 1,931,173 in September, but rose 6.6% from August. Demand increased sequentially, but remains below the recent trendline. The FBI's National Instant Criminal Background Check System reported the data.

Firearm background checks fell 10.8% year-over-year (YoY) to 1,931,173 in September, according to data from the FBI's National Instant Criminal Background Check System (NICS). This marks a significant decrease from the 2,152,214 checks conducted in September 2024. However, there was a sequential increase of 6.6% from August 2025, which saw 1,813,224 checks Firearm demand increased sequentially in September but is still well below the recent trendline^[1].

The all-time high for firearm background checks was recorded in March 2021, with 4,691,738 checks conducted. The recent trendline has been declining progressively, with 2021, 2022, 2023, and now 2024 showing a downward trajectory in firearm background checks Firearm demand increased sequentially in September but is still well below the recent trendline^[1].

In a notable development, lawmakers in the Pennsylvania state House passed legislation that mandates background checks for the sale and transfer of rifles and shotguns. Five Republicans joined the majority of Democrats in supporting the bill, which will now be considered by the Republican-controlled state Senate Firearm demand increased sequentially in September but is still well below the recent trendline^[1].

The firearm sector stocks, which are influenced by firearm demand developments, include Smith & Wesson (SWBI), Sturm Ruger (RGR), Vista Outdoor, Sportsman's Warehouse (SPWH), Ammo (POWW), ammunition manufacturer Olin Corporation (OLN), outdoors retailer American Outdoor Brands (AOUT), hunting gear seller Dick's Sporting Goods (DKS), gunfire locator firm SoundThinking (SSTI), ammunition provider National Presto Industries (NPK), taser maker Axon Enterprises (AXON), and retailer Academy Sports and Outdoors (ASO) Firearm demand increased sequentially in September but is still well below the recent trendline^[1].