8-K Announcements
6Material company update
Mar 20, 2026·SEC
Material company update
Mar 13, 2026·SEC
Material company update
Feb 18, 2026·SEC
TruGolf Holdings, Inc.(TRUG)Earnings, Financials & Key Ratios
TRUG•NASDAQ
$2.23
$1M mkt cap·Price updated May 6, 2026
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$19M-13.6%
- EBITDA-$5M-214.2%
- Net Income-$15M-73.1%
- EPS (Diluted)-51.39-100.7%
- Gross Margin25.97%-61.1%
- EBITDA Margin-24.35%-263.8%
- Operating Margin-32.32%-236.0%
- Net Margin-80.66%-100.5%
- ROE-354.11%
- Debt/Equity1.37
- Interest Coverage-3.68-1268.0%
TRUG Key Insights
TruGolf Holdings, Inc. (TRUG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Share count reduced 13.9% through buybacks
- ✓Trading at only 0.2x book value
✗Weaknesses
- ✗Profits declining 203.2% over 5 years
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 1 (bottom 1%)
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
TRUG Price & Volume
TruGolf Holdings, Inc. (TRUG) stock price & volume — 10-year historical chart
Loading chart...
TRUG Growth Metrics
TruGolf Holdings, Inc. (TRUG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-2.27%
TTM-13.63%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-73.13%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-3066.88%
Return on Capital
10 Years-42.22%
5 Years-48.28%
3 Years-125.62%
Last Year-170.78%
TRUG Peer Comparison
TruGolf Holdings, Inc. (TRUG) competitors in Gaming Hardware, Accessories, and Simulators — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 ACHR | 4.77B | 6.41 | -6.47 | -2060.67% | -37.76% | 0.02 | ||
 MODG | 2.32B | 12.59 | -1.60 | -1.06% | -37.06% | -60.79% | 1.72 | |
 GOLF | 5.03B | 85.95 | 27.73 | 4.14% | 6.54% | 20.79% | 1.37 | |
 SG | 813.74M | 6.87 | -6.03 | 0.39% | -19.73% | -37.65% | 1.00 | |
 PLBY | 189.54M | 1.68 | -12.92 | 4.13% | -10.48% | -247.79% | 1.30 | |
 EA | 50.25B | 200.79 | 57.21 | 0.91% | 11.78% | 14.19% | 0.22 | |
 MSFT | 3.07T | 413.87 | 30.34 | 14.93% | 39.34% | 33.13% | 0.33 | |
 NVDA | 5.05T | 207.67 | 42.38 | 65.47% | 55.6% | 76.33% | 0.07 |
Compare TRUG vs Peers
TruGolf Holdings, Inc. (TRUG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TRUG Income Statement
TruGolf Holdings, Inc. (TRUG) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Mar'21 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 21.25M | 20.23M | 20.58M | 21.86M | 18.88M |
| Revenue Growth % | - | - | -4.79% | 1.76% | 6.19% | -13.63% |
| Cost of Goods Sold | 0 | 5.78M | 7.02M | 8.54M | 7.27M | 13.98M |
| COGS % of Revenue | - | 27.2% | 34.7% | 41.47% | 33.27% | 74.03% |
| Gross Profit | 0▲ 0% | 15.47M▲ 0% | 13.21M▼ 14.6% | 12.05M▼ 8.8% | 14.59M▲ 21.1% | 4.9M▼ 66.4% |
| Gross Margin % | - | 72.8% | 65.3% | 58.53% | 66.73% | 25.97% |
| Gross Profit Growth % | - | - | -14.59% | -8.79% | 21.07% | -66.38% |
| Operating Expenses | 59.4K | 9.16M | 12.48M | 20.71M | 16.69M | 11.01M |
| OpEx % of Revenue | - | 43.1% | 61.68% | 100.61% | 76.35% | 58.3% |
| Selling, General & Admin | 59.4K | 0 | 11.57M | 20.71M | 15.98M | 15.62M |
| SG&A % of Revenue | - | - | 57.19% | 100.61% | 73.12% | 82.75% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 9.16M | 908.5K | 0 | 706.21K | -4.62M |
| Operating Income | -59.4K▲ 0% | 6.31M▲ 10722.8% | 732.38K▼ 88.4% | -8.66M▼ 1282.5% | -2.1M▲ 75.7% | -6.1M▼ 190.2% |
| Operating Margin % | - | 29.7% | 3.62% | -42.07% | -9.62% | -32.32% |
| Operating Income Growth % | - | 10722.76% | -88.39% | -1282.47% | 75.72% | -190.18% |
| EBITDA | -59.4K | 6.38M | 958.58K | -8.6M | -1.46M | -4.6M |
| EBITDA Margin % | - | 30.03% | 4.74% | -41.79% | -6.69% | -24.35% |
| EBITDA Growth % | - | 10840.62% | -84.97% | -997.32% | 82.99% | -214.24% |
| D&A (Non-Cash Add-back) | 0 | 70K | 226.2K | 58.64K | 639.84K | 1.5M |
| EBIT | -59.4K | 6.31M | 632.38K | -8.66M | -1.86M | -11.97M |
| Net Interest Income | 0 | -854.53K | -1.59M | 1.62M | -6.83M | -2.99M |
| Interest Income | 0 | 0 | 0 | 1.62M | 106.4K | 265.71K |
| Interest Expense | 0 | 854.53K | 0 | 0 | 6.93M | 3.26M |
| Other Income/Expense | 0 | -118.83K | -1.69M | -1.62M | -6.69M | -9.13M |
| Pretax Income | -59.4K▲ 0% | 6.19M▲ 10522.7% | -956.84K▼ 115.5% | -10.28M▼ 974.7% | -8.8M▲ 14.5% | -15.23M▼ 73.1% |
| Pretax Margin % | - | 29.14% | -4.73% | -49.96% | -40.24% | -80.66% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -59.4K▲ 0% | 6.19M▲ 10522.7% | -956.84K▼ 115.5% | -10.28M▼ 974.7% | -8.8M▲ 14.5% | -15.23M▼ 73.1% |
| Net Margin % | - | 29.14% | -4.73% | -49.96% | -40.24% | -80.66% |
| Net Income Growth % | - | 10522.69% | -115.46% | -974.69% | 14.47% | -73.13% |
| Net Income (Continuing) | -59.4K | 6.19M | -956.84K | -10.28M | -8.8M | -15.23M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.04▲ 0% | -0.25▼ 600.0% | -1.40▼ 455.6% | -12.20▼ 771.4% | -25.60▼ 109.8% | -51.39▼ 100.7% |
| EPS Growth % | - | -600% | -455.56% | -771.43% | -109.84% | -100.74% |
| EPS (Basic) | -0.04 | -0.25 | -1.40 | -12.20 | -25.60 | -51.39 |
| Diluted Shares Outstanding | 821.66K | 821.66K | 661.6K | 840.6K | 344.07K | 296.31K |
| Basic Shares Outstanding | 821.66K | 821.66K | 661.6K | 840.6K | 344.07K | 296.31K |
| Dividend Payout Ratio | - | 6.67% | - | - | - | - |
TRUG Balance Sheet
TruGolf Holdings, Inc. (TRUG) balance sheet — assets, liabilities & shareholders' equity
| Line item | Mar'21 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Total Current Assets | 500.07K | 14.54M | 13.69M | 12.66M | 14.79M | 15.48M |
| Cash & Short-Term Investments | 500.07K | 10.71M | 9.66M | 5.78M | 10.88M | 10.47M |
| Cash Only | 500.07K | 10.71M | 9.66M | 3.3M | 10.88M | 10.47M |
| Short-Term Investments | 0 | 0 | 0 | 2.48M | 0 | 0 |
| Accounts Receivable | 0 | 1.5M | 1.74M | 2.23M | 1.4M | 1.06M |
| Days Sales Outstanding | - | 25.77 | 31.48 | 39.57 | 23.36 | 20.51 |
| Inventory | 0 | 1.86M | 2.12M | 2.12M | 2.35M | 863.26K |
| Days Inventory Outstanding | - | 117.2 | 110.33 | 90.62 | 117.93 | 22.55 |
| Other Current Assets | 0 | 117.7K | 17.84K | 2.27M | 162.36K | 3.09M |
| Total Non-Current Assets | 37.5K | 347.03K | 898.41K | 3.11M | 2.35M | 4.7M |
| Property, Plant & Equipment | 0 | 347.03K | 898.41K | 1.21M | 778.12K | 1.04M |
| Fixed Asset Turnover | - | 61.22x | 22.51x | 17.05x | 28.09x | 18.19x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 1.54M | 3.63M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 37.5K | 0 | 0 | 1.91M | 31.02K | 31.02K |
| Total Assets | 537.57K▲ 0% | 14.89M▲ 2669.4% | 14.59M▼ 2.0% | 15.77M▲ 8.1% | 17.14M▲ 8.7% | 20.18M▲ 17.7% |
| Asset Turnover | - | 1.43x | 1.39x | 1.31x | 1.28x | 0.94x |
| Asset Growth % | - | 2669.45% | -2.02% | 8.11% | 8.7% | 17.73% |
| Total Current Liabilities | 40.96K | 5.42M | 7.41M | 10.67M | 15.78M | 14.4M |
| Accounts Payable | 0 | 677.25K | 1.46M | 2.06M | 2.82M | 2.77M |
| Days Payables Outstanding | - | 42.77 | 76.1 | 88.08 | 141.54 | 72.28 |
| Short-Term Debt | 0 | 1.46M | 2.17M | 4.98M | 3.75M | 4.4M |
| Deferred Revenue (Current) | 0 | 2.59M | 2.71M | 0 | 3.11M | 5.56M |
| Other Current Liabilities | 40.96K | 90K | 240.32K | 2.46M | 140K | 1.62M |
| Current Ratio | 12.21x | 2.68x | 1.85x | 1.19x | 0.94x | 1.07x |
| Quick Ratio | 12.21x | 2.34x | 1.56x | 0.99x | 0.79x | 1.01x |
| Cash Conversion Cycle | - | 100.21 | 65.71 | 42.11 | -0.25 | -29.22 |
| Total Non-Current Liabilities | 506K | 12.62M | 10.61M | 9.02M | 6.01M | 1.48M |
| Long-Term Debt | 500K | 1.98M | 1.44M | 3.26M | 4.7M | 1.29M |
| Capital Lease Obligations | 0 | 14.9K | 510.18K | 668.23K | 305.13K | 191.94K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 6K | 10.63M | 8.66M | 5.09M | 1M | 0 |
| Total Liabilities | 546.96K | 18.04M | 18.02M | 19.69M | 21.78M | 15.88M |
| Total Debt | 500K | 3.6M | 4.34M | 9.25M | 9.12M | 5.9M |
| Net Debt | -67 | -7.11M | -5.32M | 5.95M | -1.76M | -4.57M |
| Debt / Equity | - | - | - | - | - | 1.37x |
| Debt / EBITDA | - | 0.56x | 4.52x | - | - | - |
| Net Debt / EBITDA | - | -1.11x | -5.55x | - | - | - |
| Interest Coverage | - | 7.38x | - | - | -0.27x | -3.68x |
| Total Equity | -9.39K▲ 0% | -3.16M▼ 33491.0% | -3.43M▼ 8.7% | -3.92M▼ 14.2% | -4.64M▼ 18.5% | 4.3M▲ 192.7% |
| Equity Growth % | - | -33491% | -8.71% | -14.19% | -18.46% | 192.67% |
| Book Value per Share | -0.01 | -3.84 | -5.19 | -4.66 | -13.49 | 14.51 |
| Total Shareholders' Equity | -9.39K | -3.16M | -3.43M | -3.92M | -4.64M | 4.3M |
| Common Stock | 288 | 100 | 100 | 120 | 2.78K | 45 |
| Retained Earnings | -59.4K | -1.12M | -2.08M | -12.36M | -21.16M | -41.08M |
| Treasury Stock | 0 | -2.04M | -2.04M | -2.04M | -2.04M | -2.04M |
| Accumulated OCI | 0 | 0 | 0 | -1.66K | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
TRUG Cash Flow Statement
TruGolf Holdings, Inc. (TRUG) cash flow — operating, investing & free cash flow history
| Line item | Mar'21 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Cash from Operations | -50.03K | 4.52M | 791.88K | -6.13M | -4M | -1.7M |
| Operating CF Margin % | - | 21.27% | 3.91% | -29.8% | -18.28% | -9% |
| Operating CF Growth % | - | 9130.65% | -82.47% | -874.51% | 34.85% | 57.49% |
| Net Income | -59.4K | 6.19M | -956.84K | -10.28M | -8.8M | -15.23M |
| Depreciation & Amortization | 0 | 187.44K | 226.2K | 453.96K | 639.84K | 1.13M |
| Stock-Based Compensation | 0 | 0 | 0 | 5.87M | 538.32K | 11.14K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 0 | -167.04K | 785.08K | 363.15K | 2.51M | 11.55M |
| Working Capital Changes | 9.36K | -1.69M | 737.44K | -2.54M | 1.12M | 837.89K |
| Change in Receivables | 0 | -1.48M | -244.35K | -1.34M | 173.51K | 256.31K |
| Change in Inventory | 0 | -1.26M | -265.62K | 2.4K | -230.26K | 1.49M |
| Change in Payables | 0 | 103.01K | 786.08K | 0 | 444.96K | -52.32K |
| Cash from Investing | 0 | -23K | -41.43K | -2.62M | 741.14K | -3.44M |
| Capital Expenditures | 0 | -23K | -41.43K | -127.41K | -36.34K | -205.44K |
| CapEx % of Revenue | - | 0.11% | 0.2% | 0.62% | 0.17% | 1.09% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | -2.49M | -1.7M | 0 |
| Cash from Financing | 550.1K | -810.45K | -1.8M | 4.5M | 8.74M | 6.82M |
| Debt Issued (Net) | 500K | -332.47K | 162.85K | 2.29M | 8.28M | 1.82M |
| Equity Issued (Net) | 50K | -65K | 0 | 0 | 0 | 5M |
| Dividends Paid | 0 | -412.98K | -1.97M | 0 | 0 | 0 |
| Share Repurchases | 0 | -65K | 0 | 0 | 0 | 0 |
| Other Financing | 100 | 0 | 0 | 2.21M | 461.38K | 0 |
| Net Change in Cash | 500.07K▲ 0% | 3.68M▲ 636.9% | -1.05M▼ 128.6% | -4.26M▼ 304.7% | 5.48M▲ 228.8% | 1.69M▼ 69.2% |
| Free Cash Flow | -50.03K▲ 0% | 4.5M▲ 9084.7% | 750.45K▼ 83.3% | -6.26M▼ 934.3% | -5.73M▲ 8.4% | -5.14M▲ 10.4% |
| FCF Margin % | - | 21.16% | 3.71% | -30.42% | -26.23% | -27.2% |
| FCF Growth % | - | 9084.69% | -83.31% | -934.25% | 8.42% | 10.43% |
| FCF per Share | -0.06 | 5.47 | 1.13 | -7.45 | -16.66 | -17.33 |
| FCF Conversion (FCF/Net Income) | 0.84x | 0.73x | -0.83x | 0.60x | 0.45x | 0.11x |
| Interest Paid | 0 | 656.15K | 602.25K | 0 | 923.98K | 108.99K |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
TRUG Key Ratios
TruGolf Holdings, Inc. (TRUG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | - | - | - | -354.11% |
| Gross Margin | - | 72.8% | 65.3% | 58.53% | 66.73% | 25.97% |
| Net Margin | - | 29.14% | -4.73% | -49.96% | -40.24% | -80.66% |
| Debt / Equity | - | - | - | - | - | 1.37x |
| Interest Coverage | - | 7.38x | - | - | -0.27x | -3.68x |
| FCF Conversion | 0.84x | 0.73x | -0.83x | 0.60x | 0.45x | 0.11x |
| Revenue Growth | - | - | -4.79% | 1.76% | 6.19% | -13.63% |
TRUG SEC Filings & Documents
TruGolf Holdings, Inc. (TRUG) SEC filings — annual & quarterly reports (10-K, 10-Q)
TRUG Frequently Asked Questions
TruGolf Holdings, Inc. (TRUG) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
TruGolf Holdings, Inc. (TRUG) reported $18.9M in revenue for fiscal year 2025.
TruGolf Holdings, Inc. (TRUG) saw revenue decline by 13.6% over the past year.
TruGolf Holdings, Inc. (TRUG) reported a net loss of $15.2M for fiscal year 2025.
Dividend & Returns
TruGolf Holdings, Inc. (TRUG) has a return on equity (ROE) of -354.1%. Negative ROE indicates the company is unprofitable.
TruGolf Holdings, Inc. (TRUG) had negative free cash flow of $5.1M in fiscal year 2025, likely due to heavy capital investments.
Explore More TRUG
TruGolf Holdings, Inc. (TRUG) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates