TruGolf Holdings, Inc. (TRUG) 10-Year Financial Performance & Capital Metrics

TRUG • • Industrial / General

TechnologyGaming & MultimediaInteractive Entertainment TechnologyGaming Hardware & Simulators

AboutTruGolf Holdings, Inc., through its subsidiary, engages in the development and sale of indoor golf simulator hardware under the TruGolf Nevada brand for residential and commercial markets in the United States. It also provides E6 Connect software for use on other companies' hardware. The company was founded in 1982 and is headquartered in Centerville, Utah.Show more

Revenue $22M +6.2%
EBITDA -$1M +83.0%
Net Income -$9M +14.5%
EPS (Diluted) -2.56 -109.8%
Gross Margin 66.73% +14.0%
EBITDA Margin -6.69% +84.0%
Operating Margin -9.62% +77.1%
Net Margin -40.24% +19.5%
ROE -
ROIC -
Debt/Equity -
Interest Coverage -0.30

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 59.1% through buybacks
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 3 (bottom 3%)
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y0.95%

TTM-6.27%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-267.78%

EPS CAGR

10Y-

5Y-

3Y-

TTM-783.72%

ROCE

10Y Avg-16.51%

5Y Avg-16.51%

3Y Avg-65.76%

Latest-65.02%

Peer Comparison

Gaming Hardware & Simulators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TRUGTruGolf Holdings, Inc.	2.01M	0.84	-0.33	6.19%	-93.14%	-305.8%
MGRTMega Fortune Company Limited	88.41M	6.43		2.42%	12.07%	34.76%		0.43

Profit & Loss

	Mar 2021	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	21.25M	20.23M	20.58M	21.86M
Revenue Growth %	-	-	-0.05%	0.02%	0.06%
Cost of Goods Sold+	0	5.78M	7.02M	8.54M	7.27M
COGS % of Revenue	-	0.27%	0.35%	0.41%	0.33%
Gross Profit+	0	15.47M	13.21M	12.05M	14.59M
Gross Margin %	-	0.73%	0.65%	0.59%	0.67%
Gross Profit Growth %	-	-	-0.15%	-0.09%	0.21%
Operating Expenses+	59.4K	9.16M	12.48M	20.71M	16.69M
OpEx % of Revenue	-	0.43%	0.62%	1.01%	0.76%
Selling, General & Admin	59.4K	0	11.57M	20.71M	15.98M
SG&A % of Revenue	-	-	0.57%	1.01%	0.73%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	0	9.16M	908.5K	0	706.21K
Operating Income+	-59.4K	6.31M	732.38K	-8.66M	-2.1M
Operating Margin %	-	0.3%	0.04%	-0.42%	-0.1%
Operating Income Growth %	-	107.23%	-0.88%	-12.82%	0.76%
EBITDA+	-59.4K	6.38M	958.58K	-8.6M	-1.46M
EBITDA Margin %	-	0.3%	0.05%	-0.42%	-0.07%
EBITDA Growth %	-	108.41%	-0.85%	-9.97%	0.83%
D&A (Non-Cash Add-back)	0	70K	226.2K	58.64K	639.84K
EBIT	-59.4K	6.31M	632.38K	-8.66M	-1.86M
Net Interest Income+	0	-854.53K	-1.59M	1.62M	-6.83M
Interest Income	0	0	0	1.62M	106.4K
Interest Expense	0	854.53K	0	0	6.93M
Other Income/Expense	0	-118.83K	-1.69M	-1.62M	-6.69M
Pretax Income+	-59.4K	6.19M	-956.84K	-10.28M	-8.8M
Pretax Margin %	-	0.29%	-0.05%	-0.5%	-0.4%
Income Tax+	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%
Net Income+	-59.4K	6.19M	-956.84K	-10.28M	-8.8M
Net Margin %	-	0.29%	-0.05%	-0.5%	-0.4%
Net Income Growth %	-	105.23%	-1.15%	-9.75%	0.14%
Net Income (Continuing)	-59.4K	6.19M	-956.84K	-10.28M	-8.8M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	-0.00	-0.03	-0.14	-1.22	-2.56
EPS Growth %	-	-	-4.56%	-7.71%	-1.1%
EPS (Basic)	-0.00	-0.03	-0.14	-1.22	-2.56
Diluted Shares Outstanding	8.22M	8.22M	6.62M	8.41M	3.44M
Basic Shares Outstanding	8.22M	8.22M	6.62M	8.41M	3.44M
Dividend Payout Ratio	-	0.07%	-	-	-

Balance Sheet

	Mar 2021	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	500.07K	14.54M	13.69M	12.66M	14.79M
Cash & Short-Term Investments	500.07K	10.71M	9.66M	5.78M	10.88M
Cash Only	500.07K	10.71M	9.66M	3.3M	10.88M
Short-Term Investments	0	0	0	2.48M	0
Accounts Receivable	0	1.5M	1.74M	2.23M	1.4M
Days Sales Outstanding	-	25.77	31.48	39.57	23.36
Inventory	0	1.86M	2.12M	2.12M	2.35M
Days Inventory Outstanding	-	117.2	110.33	90.62	117.93
Other Current Assets	0	117.7K	17.84K	2.27M	162.36K
Total Non-Current Assets+	37.5K	347.03K	898.41K	3.11M	2.35M
Property, Plant & Equipment	0	347.03K	898.41K	1.21M	778.12K
Fixed Asset Turnover	-	61.22x	22.51x	17.05x	28.09x
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	1.54M
Long-Term Investments	0	0	0	0	0
Other Non-Current Assets	37.5K	0	0	1.91M	31.02K
Total Assets+	537.57K	14.89M	14.59M	15.77M	17.14M
Asset Turnover	-	1.43x	1.39x	1.31x	1.28x
Asset Growth %	-	26.69%	-0.02%	0.08%	0.09%
Total Current Liabilities+	40.96K	5.42M	7.41M	10.67M	15.78M
Accounts Payable	0	677.25K	1.46M	2.06M	2.82M
Days Payables Outstanding	-	42.77	76.1	88.08	141.54
Short-Term Debt	0	1.46M	2.17M	4.98M	3.75M
Deferred Revenue (Current)	0	1000K	1000K	0	1000K
Other Current Liabilities	40.96K	90K	240.32K	2.46M	140K
Current Ratio	12.21x	2.68x	1.85x	1.19x	0.94x
Quick Ratio	12.21x	2.34x	1.56x	0.99x	0.79x
Cash Conversion Cycle	-	100.21	65.71	42.11	-0.25
Total Non-Current Liabilities+	506K	12.62M	10.61M	9.02M	6.01M
Long-Term Debt	500K	1.98M	1.44M	3.26M	4.7M
Capital Lease Obligations	0	14.9K	510.18K	668.23K	305.13K
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	6K	10.63M	8.66M	5.09M	1M
Total Liabilities	546.96K	18.04M	18.02M	19.69M	21.78M
Total Debt+	500K	3.6M	4.34M	9.25M	9.12M
Net Debt	-67	-7.11M	-5.32M	5.95M	-1.76M
Debt / Equity	-	-	-	-	-
Debt / EBITDA	-	0.56x	4.52x	-	-
Net Debt / EBITDA	-	-1.11x	-5.55x	-	-
Interest Coverage	-	7.38x	-	-	-0.30x
Total Equity+	-9.39K	-3.16M	-3.43M	-3.92M	-4.64M
Equity Growth %	-	-334.91%	-0.09%	-0.14%	-0.18%
Book Value per Share	-0.00	-0.38	-0.52	-0.47	-1.35
Total Shareholders' Equity	-9.39K	-3.16M	-3.43M	-3.92M	-4.64M
Common Stock	288	100	100	120	2.78K
Retained Earnings	-59.4K	-1.12M	-2.08M	-12.36M	-21.16M
Treasury Stock	0	-2.04M	-2.04M	-2.04M	-2.04M
Accumulated OCI	0	0	0	-1.66K	0
Minority Interest	0	0	0	0	0

Cash Flow

	Mar 2021	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-50.03K	4.52M	791.88K	-6.13M	-4M
Operating CF Margin %	-	0.21%	0.04%	-0.3%	-0.18%
Operating CF Growth %	-	91.31%	-0.82%	-8.75%	0.35%
Net Income	-59.4K	6.19M	-956.84K	-10.28M	-8.8M
Depreciation & Amortization	0	187.44K	226.2K	453.96K	639.84K
Stock-Based Compensation	0	0	0	5.87M	538.32K
Deferred Taxes	0	0	0	0	0
Other Non-Cash Items	0	-167.04K	785.08K	363.15K	2.51M
Working Capital Changes	9.36K	-1.69M	737.44K	-2.54M	1.12M
Change in Receivables	0	-1.48M	-244.35K	-1.34M	173.51K
Change in Inventory	0	-1.26M	-265.62K	2.4K	-230.26K
Change in Payables	0	103.01K	786.08K	0	444.96K
Cash from Investing+	0	-23K	-41.43K	-2.62M	741.14K
Capital Expenditures	0	-23K	-41.43K	-127.41K	-36.34K
CapEx % of Revenue	-	0%	0%	0.01%	0%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	0	0	-2.49M	-1.7M
Cash from Financing+	550.1K	-810.45K	-1.8M	4.5M	8.74M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	-412.98K	-1.97M	0	0
Share Repurchases	-	-	-	-	-
Other Financing	100	0	0	2.21M	461.38K
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-50.03K	4.5M	750.45K	-6.26M	-5.73M
FCF Margin %	-	0.21%	0.04%	-0.3%	-0.26%
FCF Growth %	-	90.85%	-0.83%	-9.34%	0.08%
FCF per Share	-0.01	0.55	0.11	-0.74	-1.67
FCF Conversion (FCF/Net Income)	0.84x	0.73x	-0.83x	0.60x	0.45x
Interest Paid	0	656.15K	602.25K	0	923.98K
Taxes Paid	0	0	0	0	0

Key Ratios

Metric	2020	2021	2022	2023	2024
Gross Margin	-	72.8%	65.3%	58.53%	66.73%
Net Margin	-	29.14%	-4.73%	-49.96%	-40.24%
Interest Coverage	-	7.38x	-	-	-0.30x
FCF Conversion	0.84x	0.73x	-0.83x	0.60x	0.45x
Revenue Growth	-	-	-4.79%	1.76%	6.19%

Revenue by Segment

	2024
Other	297.4K
Other Growth	-

Frequently Asked Questions

Growth & Financials

TruGolf Holdings, Inc. (TRUG) reported $20.5M in revenue for fiscal year 2024.

TruGolf Holdings, Inc. (TRUG) grew revenue by 6.2% over the past year. This is steady growth.

TruGolf Holdings, Inc. (TRUG) reported a net loss of $19.1M for fiscal year 2024.

Dividend & Returns

TruGolf Holdings, Inc. (TRUG) had negative free cash flow of $10.7M in fiscal year 2024, likely due to heavy capital investments.

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