MasterCraft Boat Holdings, Inc. (MCFT) 10-Year Financial Performance & Capital Metrics

MCFT • • Industrial / General

Consumer CyclicalRecreational VehiclesRecreational BoatsPerformance & Sport Boats

AboutMasterCraft Boat Holdings, Inc., through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through three segments: MasterCraft, NauticStar, and Crest. The MasterCraft segment produces recreational performance sport boats and luxury day boats under the MasterCraft and Aviara brands, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating. The NauticStar segment offers boats that are primarily used for saltwater fishing and general recreational boating. The Crest segment produces pontoon boats for use in general recreational boating. The company also offers ski/wake, outboard, and sterndrive boats, as well as various accessories, including trailers and aftermarket parts. It sells its boats under the MasterCraft, NauticStar, Crest, and Aviara brands through a network of independent dealers in North America and internationally. The company was formerly known as MCBC Holdings, Inc. and changed its name to MasterCraft Boat Holdings, Inc. in November 2018. MasterCraft Boat Holdings, Inc. was founded in 1968 and is based in Vonore, Tennessee.Show more

Revenue $284M -22.5%
EBITDA $21M +10.6%
Net Income $7M -9.7%
EPS (Diluted) 0.43 -6.5%
Gross Margin 20.01% +9.3%
EBITDA Margin 7.32% +42.7%
Operating Margin 3.95% +89.8%
Net Margin 2.48% +16.5%
ROE 3.83% -7.6%
ROIC 4.43% +74.7%
Debt/Equity -
Interest Coverage 9.61 +314.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 16.3%
✓Share count reduced 2.9% through buybacks
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.86%

5Y-4.78%

3Y-23.77%

TTM-6.02%

Profit (Net Income) CAGR

10Y2.44%

5Y-

3Y-50.54%

TTM547.01%

EPS CAGR

10Y3%

5Y-

3Y-48.35%

TTM517.39%

ROCE

10Y Avg40.21%

5Y Avg32.64%

3Y Avg20.54%

Latest5.17%

Peer Comparison

Performance & Sport Boats

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MCFTMasterCraft Boat Holdings, Inc.	366.34M	22.49	52.30	-22.47%	5.5%	8.51%	7.21%
MBUUMalibu Boats, Inc.	654.47M	34.04	44.79	-2.59%	2.31%	3.69%	4.37%	0.05
MPXMarine Products Corporation	332.49M	9.50	19	-38.35%	5.78%	10.42%	7.5%	0.00

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	221.6M	228.63M	332.73M	466.38M	363.07M	465.96M	641.61M	609.9M	366.59M	284.2M
Revenue Growth %	0.03%	0.03%	0.46%	0.4%	-0.22%	0.28%	0.38%	-0.05%	-0.4%	-0.22%
Cost of Goods Sold+	160.52M	165.16M	242.36M	353.25M	287.72M	340.83M	473.42M	441.16M	299.49M	227.34M
COGS % of Revenue	0.72%	0.72%	0.73%	0.76%	0.79%	0.73%	0.74%	0.72%	0.82%	0.8%
Gross Profit+	61.08M	63.48M	90.36M	113.13M	75.36M	125.13M	168.19M	168.74M	67.1M	56.87M
Gross Margin %	0.28%	0.28%	0.27%	0.24%	0.21%	0.27%	0.26%	0.28%	0.18%	0.2%
Gross Profit Growth %	0.19%	0.04%	0.42%	0.25%	-0.33%	0.66%	0.34%	0%	-0.6%	-0.15%
Operating Expenses+	39.07M	29.96M	34.38M	48.87M	101.92M	46.49M	51.99M	47.31M	59.47M	45.63M
OpEx % of Revenue	0.18%	0.13%	0.1%	0.1%	0.28%	0.1%	0.08%	0.08%	0.16%	0.16%
Selling, General & Admin	38.85M	29.85M	32.78M	45.38M	41.54M	44.53M	48.94M	45.35M	47.83M	43.83M
SG&A % of Revenue	0.18%	0.13%	0.1%	0.1%	0.11%	0.1%	0.08%	0.07%	0.13%	0.15%
Research & Development	3.51M	3.55M	4.93M	5.57M	0	0	0	0	8.6M	0
R&D % of Revenue	0.02%	0.02%	0.01%	0.01%	-	-	-	-	0.02%	-
Other Operating Expenses	1.21M	107K	1.6M	3.49M	60.38M	1.96M	3.06M	1.96M	3.04M	1.8M
Operating Income+	22.01M	33.52M	55.98M	64.26M	-26.57M	78.64M	116.19M	121.43M	7.63M	11.23M
Operating Margin %	0.1%	0.15%	0.17%	0.14%	-0.07%	0.17%	0.18%	0.2%	0.02%	0.04%
Operating Income Growth %	-0.08%	0.52%	0.67%	0.15%	-1.41%	3.96%	0.48%	0.05%	-0.94%	0.47%
EBITDA+	25.45M	36.75M	61.07M	72.05M	-16.04M	87.01M	125.93M	129.82M	18.81M	20.81M
EBITDA Margin %	0.11%	0.16%	0.18%	0.15%	-0.04%	0.19%	0.2%	0.21%	0.05%	0.07%
EBITDA Growth %	0.05%	0.44%	0.66%	0.18%	-1.22%	6.42%	0.45%	0.03%	-0.86%	0.11%
D&A (Non-Cash Add-back)	3.44M	3.23M	5.09M	7.79M	10.53M	8.37M	9.73M	8.4M	11.18M	9.58M
EBIT	19.8M	33.52M	56.48M	64.64M	-26.57M	77.91M	116.19M	124.78M	13.42M	14.7M
Net Interest Income+	-1.28M	-2.22M	-3.47M	-6.51M	-5.04M	-3.39M	-1.47M	672K	2.5M	2.3M
Interest Income	0	0	0	0	0	0	0	3.35M	5.79M	3.47M
Interest Expense	1.28M	2.22M	3.47M	6.51M	5.04M	3.39M	1.47M	2.68M	3.29M	1.17M
Other Income/Expense	-3.49M	-2.22M	-3.47M	-6.51M	-5.04M	-4.13M	-1.47M	672K	2.5M	2.3M
Pretax Income+	18.52M	31.29M	52.51M	26.75M	-31.61M	74.52M	114.72M	122.1M	10.13M	13.54M
Pretax Margin %	0.08%	0.14%	0.16%	0.06%	-0.09%	0.16%	0.18%	0.2%	0.03%	0.05%
Income Tax+	8.31M	11.72M	12.86M	5.39M	-7.57M	16.08M	26.78M	28.3M	1.41M	2.82M
Effective Tax Rate %	0.55%	0.63%	0.76%	0.8%	0.76%	0.75%	0.51%	0.56%	0.77%	0.52%
Net Income+	10.21M	19.57M	39.65M	21.35M	-24.05M	56.17M	58.21M	68.94M	7.8M	7.04M
Net Margin %	0.05%	0.09%	0.12%	0.05%	-0.07%	0.12%	0.09%	0.11%	0.02%	0.02%
Net Income Growth %	0.84%	0.92%	1.03%	-0.46%	-2.13%	3.34%	0.04%	0.18%	-0.89%	-0.1%
Net Income (Continuing)	10.21M	19.57M	39.65M	21.35M	-24.05M	58.44M	87.94M	93.8M	8.72M	10.71M
Discontinued Operations	0	0	0	0	0	-2.27M	-29.73M	-24.86M	-922K	-3.67M
Minority Interest	0	0	0	0	0	0	0	120K	200K	200K
EPS (Diluted)+	0.56	1.05	2.12	1.14	-1.28	2.96	3.12	3.88	0.46	0.43
EPS Growth %	0.75%	0.88%	1.02%	-0.46%	-2.12%	3.31%	0.05%	0.24%	-0.88%	-0.07%
EPS (Basic)	0.57	1.05	2.13	1.14	-1.28	2.99	3.15	3.91	0.46	0.43
Diluted Shares Outstanding	18.26M	18.62M	18.71M	18.77M	18.73M	18.95M	18.64M	17.77M	17.04M	16.54M
Basic Shares Outstanding	17.85M	18.59M	18.62M	18.65M	18.73M	18.81M	18.46M	17.62M	16.93M	16.45M
Dividend Payout Ratio	7.83%	-	-	-	-	-	-	-	-	-

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	18.09M	21.65M	37.19M	54.36M	56.74M	110.23M	146.11M	195.5M	155.07M	121.21M
Cash & Short-Term Investments	73K	4.04M	7.91M	5.83M	16.32M	39.25M	34.2M	111.38M	86.24M	79.44M
Cash Only	73K	4.04M	7.91M	5.83M	16.32M	39.25M	34.2M	19.82M	7.39M	28.93M
Short-Term Investments	0	0	0	0	0	0	0	91.56M	78.85M	50.52M
Accounts Receivable	2.97M	3.5M	5.51M	13.41M	11.07M	12.44M	22.47M	15.74M	11.95M	4.29M
Days Sales Outstanding	4.89	5.59	6.05	10.5	11.13	9.74	12.78	9.42	11.9	5.51
Inventory	13.27M	11.68M	20.47M	30.66M	25.64M	53.48M	58.59M	58.3M	36.97M	30.47M
Days Inventory Outstanding	30.17	25.8	30.82	31.68	32.52	57.27	45.18	48.23	45.06	48.92
Other Current Assets	539K	1.18M	2.05M	0	0	0	23.17M	10.08M	19.91M	7.01M
Total Non-Current Assets+	64.44M	61.67M	139.74M	194.41M	151.18M	166.23M	150.94M	158.48M	162.91M	138.74M
Property, Plant & Equipment	13.83M	14.83M	22.27M	33.64M	40.48M	60.49M	55.82M	77.92M	52.31M	53.58M
Fixed Asset Turnover	16.03x	15.42x	14.94x	13.87x	8.97x	7.70x	11.49x	7.83x	7.01x	5.30x
Goodwill	29.59M	29.59M	65.79M	74.03M	29.59M	29.59M	28.49M	28.49M	28.49M	28.49M
Intangible Assets	16.75M	16.64M	51.05M	79.8M	63.85M	59.9M	37.42M	35.46M	33.65M	31.85M
Long-Term Investments	601K	-472K	-1.04M	451K	0	507K	0	0	0	0
Other Non-Current Assets	170K	125K	252K	253K	1.18M	609K	7.68M	4.17M	29.87M	5.9M
Total Assets+	82.53M	83.32M	176.92M	248.77M	207.92M	276.46M	297.05M	353.98M	317.98M	259.95M
Asset Turnover	2.68x	2.74x	1.88x	1.87x	1.75x	1.69x	2.16x	1.72x	1.15x	1.09x
Asset Growth %	-0.08%	0.01%	1.12%	0.41%	-0.16%	0.33%	0.07%	0.19%	-0.1%	-0.18%
Total Current Liabilities+	44.38M	36.88M	50.91M	68.55M	55.43M	74.29M	93.17M	102.54M	77.94M	65.21M
Accounts Payable	13.11M	11.01M	17.27M	17.97M	10.51M	23.86M	23.38M	20.39M	10.43M	8.26M
Days Payables Outstanding	29.81	24.33	26	18.57	13.33	25.55	18.02	16.87	12.71	13.25
Short-Term Debt	7.88M	3.69M	5.07M	8.72M	8.93M	2.87M	2.87M	4.38M	4.37M	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	559K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	15.36M	15.97M	18.77M	22.66M	24.41M	27.44M	43.54M	42.93M	42.16M	35.64M
Current Ratio	0.41x	0.59x	0.73x	0.79x	1.02x	1.48x	1.57x	1.91x	1.99x	1.86x
Quick Ratio	0.11x	0.27x	0.33x	0.35x	0.56x	0.76x	0.94x	1.34x	1.52x	1.39x
Cash Conversion Cycle	5.25	7.06	10.87	23.61	30.32	41.46	39.94	40.78	44.25	41.18
Total Non-Current Liabilities+	46.53M	34.67M	73.5M	107.91M	103.63M	94.38M	60.23M	59.35M	56.17M	11.15M
Long-Term Debt	44.34M	30.79M	70.09M	105.02M	99.67M	90.28M	53.68M	49.3M	44.89M	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	953K	1.43M	3.11M	0	6.49M	0	0	0	0
Other Non-Current Liabilities	2.19M	2.93M	3.41M	2.9M	3.96M	4.11M	6.56M	10.05M	11.28M	11.15M
Total Liabilities	90.91M	71.56M	124.4M	176.46M	159.05M	168.67M	153.4M	161.89M	134.1M	76.36M
Total Debt+	52.23M	34.48M	75.16M	113.74M	108.6M	93.14M	56.55M	53.68M	49.26M	0
Net Debt	52.15M	30.44M	67.25M	107.92M	92.28M	53.89M	22.35M	33.86M	41.87M	-28.93M
Debt / Equity	-	2.93x	1.43x	1.57x	2.22x	0.86x	0.39x	0.28x	0.27x	-
Debt / EBITDA	2.05x	0.94x	1.23x	1.58x	-	1.07x	0.45x	0.41x	2.62x	-
Net Debt / EBITDA	2.05x	0.83x	1.10x	1.50x	-	0.62x	0.18x	0.26x	2.23x	-1.39x
Interest Coverage	17.20x	15.08x	16.11x	9.87x	-5.27x	23.18x	78.99x	45.33x	2.32x	9.61x
Total Equity+	-8.38M	11.76M	52.52M	72.32M	48.87M	107.79M	143.65M	192.09M	183.88M	183.59M
Equity Growth %	0.8%	2.4%	3.47%	0.38%	-0.32%	1.21%	0.33%	0.34%	-0.04%	-0%
Book Value per Share	-0.46	0.63	2.81	3.85	2.61	5.69	7.71	10.81	10.79	11.10
Total Shareholders' Equity	-8.38M	11.76M	52.52M	72.32M	48.87M	107.79M	143.65M	191.97M	183.68M	183.39M
Common Stock	186K	186K	187K	188K	189K	189K	181K	173K	167K	164K
Retained Earnings	-120.94M	-101.37M	-61.72M	-43.45M	-67.5M	-11.33M	46.88M	115.82M	123.62M	130.66M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-16.3M	-15.01M	-18.5M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	120K	200K	200K

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	30.75M	26.23M	49.4M	55.89M	30.2M	68.54M	73.31M	134.2M	12.5M	35.59M
Operating CF Margin %	0.14%	0.11%	0.15%	0.12%	0.08%	0.15%	0.11%	0.22%	0.03%	0.13%
Operating CF Growth %	0.22%	-0.15%	0.88%	0.13%	-0.46%	1.27%	0.07%	0.83%	-0.91%	1.85%
Net Income	10.21M	19.57M	39.65M	21.35M	-24.05M	56.17M	87.94M	93.8M	7.8M	10.71M
Depreciation & Amortization	3.44M	3.23M	5.09M	7.79M	10.53M	11.63M	9.73M	8.4M	11.18M	9.58M
Stock-Based Compensation	13.69M	711K	1.19M	1.68M	1.06M	2.93M	0	3.46M	2.6M	2.92M
Deferred Taxes	-2.25M	5.2M	-642K	-5.82M	-9.05M	986K	-6.39M	10.09M	-6.16M	188K
Other Non-Cash Items	4.58M	787K	311K	32.25M	56.34M	1.64M	-1.93M	-2.21M	10.23M	-1.34M
Working Capital Changes	1.08M	-3.26M	3.8M	-1.36M	-4.64M	-4.82M	-16.05M	20.66M	-13.16M	13.53M
Change in Receivables	-286K	-551K	-211K	-1.83M	2.32M	-5.92M	-13.01M	10.96M	-428K	6.89M
Change in Inventory	-2.09M	1.19M	-2.75M	-449K	4.75M	-28.56M	-18.11M	3.27M	10.46M	6.57M
Change in Payables	-1.7M	-2.1M	2.85M	-3M	-6.87M	13.4M	3.25M	-4.07M	-7.96M	-2.02M
Cash from Investing+	-3.82M	-4.13M	-85.72M	-95.79M	-14.22M	-27.83M	-15.82M	-121.43M	-1.78M	46.04M
Capital Expenditures	-3.82M	-4.13M	-5.3M	-14.06M	-14.24M	-27.86M	-12.3M	-24.56M	-16.36M	-9.2M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.03%	0.04%	0.06%	0.02%	0.04%	0.04%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-4.13M	96K	7K	23K	0	-3.52M	-6.26M	5K	25.99M
Cash from Financing+	-28.02M	-18.13M	40.19M	37.82M	-5.49M	-17.77M	-62.54M	-27.15M	-23.14M	-60.1M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-79.94M	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.22M	-141K	-1.32M	-877K	-130K	-1.51M	-358K	-1.2M	-2.38M	-830K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	26.93M	22.1M	44.09M	41.82M	15.96M	40.68M	61.02M	109.63M	-3.86M	26.39M
FCF Margin %	0.12%	0.1%	0.13%	0.09%	0.04%	0.09%	0.1%	0.18%	-0.01%	0.09%
FCF Growth %	0.24%	-0.18%	1%	-0.05%	-0.62%	1.55%	0.5%	0.8%	-1.04%	7.83%
FCF per Share	1.48	1.19	2.36	2.23	0.85	2.15	3.27	6.17	-0.23	1.60
FCF Conversion (FCF/Net Income)	3.01x	1.34x	1.25x	2.62x	-1.26x	1.22x	1.26x	1.95x	1.60x	5.05x
Interest Paid	397K	2.01M	2.98M	5.53M	4.84M	2.85M	0	2.42M	2.99M	746K
Taxes Paid	9.63M	6.54M	13.55M	12.44M	6.15M	9.17M	0	10.05M	11.61M	284K

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	1157.3%	123.37%	34.21%	-39.69%	71.71%	46.31%	41.07%	4.15%	3.83%
Return on Invested Capital (ROIC)	41.73%	58.47%	51.85%	32.13%	-12.4%	38.95%	53.19%	46.47%	2.53%	4.43%
Gross Margin	27.56%	27.76%	27.16%	24.26%	20.76%	26.85%	26.21%	27.67%	18.3%	20.01%
Net Margin	4.61%	8.56%	11.92%	4.58%	-6.62%	12.05%	9.07%	11.3%	2.13%	2.48%
Debt / Equity	-	2.93x	1.43x	1.57x	2.22x	0.86x	0.39x	0.28x	0.27x	-
Interest Coverage	17.20x	15.08x	16.11x	9.87x	-5.27x	23.18x	78.99x	45.33x	2.32x	9.61x
FCF Conversion	3.01x	1.34x	1.25x	2.62x	-1.26x	1.22x	1.26x	1.95x	1.60x	5.05x
Revenue Growth	3.36%	3.17%	45.53%	40.17%	-22.15%	28.34%	37.7%	-4.94%	-39.89%	-22.47%

Revenue by Segment

	2016	2018	2019	2020	2021	2022	2023	2024	2025
Parts	-	-	-	-	-	-	14.99M	14.81M	13.4M
Parts Growth	-	-	-	-	-	-	-	-1.22%	-9.54%
Other Product	-	-	-	-	-	-	2.35M	3.75M	3.77M
Other Product Growth	-	-	-	-	-	-	-	59.18%	0.64%
Mastercraft	221.6M	266.32M	311.83M	246.46M	363.27M	466.03M	-	-	-
Mastercraft Growth	-	20.18%	17.09%	-20.96%	47.40%	28.29%	-	-	-
Crest	-	-	76.56M	61.69M	102.69M	140.86M	-	-	-
Crest Growth	-	-	-	-19.42%	66.46%	37.17%	-	-	-
Nauticstar	-	66.41M	78M	54.93M	59.85M	66.25M	-	-	-
Nauticstar Growth	-	-	17.45%	-29.57%	8.95%	10.71%	-	-	-
Aviara	-	-	-	-	-	34.72M	-	-	-
Aviara Growth	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

MasterCraft Boat Holdings, Inc. (MCFT) has a price-to-earnings (P/E) ratio of 52.3x. This suggests investors expect higher future growth.

Growth & Financials

MasterCraft Boat Holdings, Inc. (MCFT) reported $287.8M in revenue for fiscal year 2025. This represents a 78% increase from $162.0M in 2013.

MasterCraft Boat Holdings, Inc. (MCFT) saw revenue decline by 22.5% over the past year.

Yes, MasterCraft Boat Holdings, Inc. (MCFT) is profitable, generating $15.8M in net income for fiscal year 2025 (2.5% net margin).

Dividend & Returns

MasterCraft Boat Holdings, Inc. (MCFT) has a return on equity (ROE) of 3.8%. This is below average, suggesting room for improvement.

MasterCraft Boat Holdings, Inc. (MCFT) generated $16.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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