MasterCraft Boat Holdings, Inc. (MCFT)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
The business carries its own weight: MasterCraft leads its category with a 19.2 percent share in ski and wake boats, rode the drop in net sales from $609.9 million to $284.2 million (fiscal 2023 to fiscal 2025) without ever drawing on a credit line, and reported $84.6 million of cash and short-term investments plus $189.3 million of equity as of March 29, 2026; margins are coming back, with gross margin at 25.0 percent against 20.8 percent in the third quarter of fiscal 2026. Nothing in the filings threatens the substance of the company. What is open is a clearly operational question: earnings per share from continuing operations fell from $5.28 in fiscal 2023 to $0.65 in fiscal 2025, and the third quarter of fiscal 2026 carried a reported loss of $0.7 million — the turnaround out of the cycle is not yet proven. On top of that sits the Marine Products acquisition: its earnings contribution has not appeared in any report so far, pro forma cash falls from $75.4 million to $30.5 million, and 47 percent of the balance sheet consists of goodwill and intangible assets whose allocation is expressly preliminary — at a company that already wrote off $22.5 million and $9.8 million on divested brands in fiscal 2023 and fiscal 2024. That is not a threat to substance, but it is not proven quality either — hence yellow. The decision is yours.
symbol.quality_note
MasterCraft builds recreational powerboats, and net sales from continuing operations fell from $609.9 million in fiscal 2023 to $284.2 million in fiscal 2025. On May 15, 2026, the company answered that decline by buying rival Marine Products, owner of the Chaparral and Robalo brands: 0.232 of its own shares plus $2.43 in cash for each Marine Products share, adding up to 8,088,387 new shares and $85.2 million out of the bank account. Shares outstanding rose from 16,279,890 to roughly 24.37 million — nearly half again as many. In the company's own pro forma math, earnings per share fall from $0.65 to $0.55 for fiscal 2025. The stock reached our desk at rank 47 in our in-house Big Earnings Surprise ranking (U.S. selection, as of July 25, 2026). Not investment advice — just the question of who owns how much of the company now.
Read the analysis
Stock Watch
This analysis is as of July 26, 2026. Stock Watch will tell you what's changed at MCFT since then.
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Appears in These Scanners
This stock currently matches 11 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 23.90 $ — 66% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
NeutralGeprüft am 25.07.2026 gegen die Geschäftsberichte (10-K) für die Geschäftsjahre 2024 und 2025 sowie die vier jüngsten Quartalsberichte (10-Q) bis zum 07.05.2026: In den ausgewerteten SEC-Filings von MasterCraft Boat Holdings gibt es keinen wesentlichen KI-Bezug. Die einzige Erwähnung künstlicher Intelligenz steht in beiden 10-K als generische Cybersicherheits-Floskel im Risikoteil — KI wird dort als Werkzeug von Angreifern genannt, nicht als Geschäftsrisiko für das eigene Modell („the deployment of evolving artificial intelligence and machine learning tools used to identify vulnerabilities and create more effective phishing attempts“). In den vier Quartalsberichten kommt der Begriff überhaupt nicht vor. Weder verkauft der Bootsbauer KI-Produkte noch belegen die Berichte einen operativen KI-Einsatz; das laufende ERP-Projekt wird ohne KI-Bezug beschrieben. Nach dem Kriterienkatalog bleibt es damit bei neutral.
View the full file — quotes, sources, reviewed filings
„The techniques and sophistication used to conduct cyberattacks and breaches of information technology systems change frequently, including as a result of the deployment of evolving artificial intelligence and machine learning tools used to identify vulnerabilities and create more effective phishing attempts, and have the potential to not be recognized until such attacks are launched or have been in place for a period of time."
Die Techniken und die Raffinesse, mit denen Cyberangriffe und Einbrüche in Informationstechnik-Systeme durchgeführt werden, ändern sich häufig, unter anderem durch den Einsatz sich weiterentwickelnder Werkzeuge der künstlichen Intelligenz und des maschinellen Lernens, mit denen Schwachstellen gefunden und wirksamere Phishing-Versuche erstellt werden; sie können unentdeckt bleiben, bis solche Angriffe gestartet werden oder eine Zeit lang bestanden haben.
Filings Reviewed: 10-Q 2026-05-07 · 10-Q 2026-02-05 · 10-Q 2025-11-06 · 10-Q 2025-05-07 · 10-K 2025-08-27 · 10-K 2024-08-30
Rated on July 25, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 15.5% above the current price.
- Consensus
- Hold
- Analyst Ratings
- 5
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 06/30/2027 | 1.98 | 1.85 – 2.10 | 605 | 18.3% | 2 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.56 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q2 | -0.04 | -102.90 | 67 | -59.70 | -12.00 | -10 | -14 |
| 2024: Q3 | 0.12 | -74.50 | 65 | -30.70 | -7.90 | 2 | 0 |
| 2024: Q4 | 0.10 | -73.00 | 63 | -29.40 | 4.30 | 6 | 4 |
| 2025: Q1 | 0.30 | -18.90 | 76 | -9.50 | 4.90 | 6 | 4 |
| 2025: Q2 | 0.40 | 1,100.00 | 80 | 18.40 | 7.20 | 20 | 18 |
| 2025: Q3 | 0.28 | 133.30 | 69 | 5.60 | 5.30 | -7 | -10 |
| 2025: Q4 | 0.29 | 190.00 | 72 | 13.20 | 3.50 | 16 | 14 |
| 2026: Q1 | 0.45 | 50.00 | 78 | 3.00 | -0.90 | 5 | 4 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 222 | 22 | 10 | 0.56 | 31 | -8 | 83 |
| 2017 | 229 | 34 | 20 | 1.05 | 26 | 12 | 83 |
| 2018 | 333 | 56 | 40 | 2.12 | 49 | 53 | 177 |
| 2019 | 466 | 64 | 21 | 1.14 | 56 | 72 | 249 |
| 2020 | 363 | -27 | -24 | -1.28 | 30 | 49 | 208 |
| 2021 | 466 | 79 | 56 | 2.96 | 69 | 108 | 276 |
| 2022 | 642 | 116 | 58 | 3.12 | 73 | 144 | 297 |
| 2023 | 610 | 121 | 69 | 3.88 | 134 | 192 | 354 |
| 2024 | 367 | 8 | 8 | 0.46 | 13 | 184 | 318 |
| 2025 | 284 | 11 | 7 | 0.43 | 36 | 183 | 260 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Margins are coming back even as fewer boats ship: gross margin of 25.0 percent in the third quarter of fiscal 2026 against 20.8 percent a year earlier, and an adjusted EBITDA margin of 13.7 percent versus 9.9 percent — on 571 units shipped instead of 619. Net sales per boat rose from $123 thousand to $137 thousand.
As of March 29, 2026 nothing was drawn on credit lines, with $84.6 million of cash and short-term investments and $189.3 million of equity. After the merger, pro forma cash falls to $30.5 million and the revolving facility was cut from $100 million to $75 million, though extended to 2031. Debt free yes, cushion notably thinner.
On May 15, 2026 the company issued 8,088,387 new shares, lifting the count from 16,279,890 to roughly 24.37 million. In its own pro forma statements, earnings per share from continuing operations fall from $0.65 to $0.55 for fiscal 2025 and from $0.33 to $0.23 diluted for the first nine months of fiscal 2026. For scale: fiscal 2024 and 2025 together retired 1,282,913 shares for $25.8 million.
Goodwill and other intangible assets total $235.8 million pro forma, or 47 percent of the $504.3 million balance sheet. The purchase price allocation is expressly preliminary and will be finalized within one year of closing; the $92.8 million of goodwill is not expected to be deductible for tax purposes. The company booked a $22.5 million loss on the NauticStar sale in fiscal 2023 and a $9.8 million Aviara impairment in fiscal 2024.
A market capitalization of roughly $588 million (data as of July 25, 2026) equals a little more than two times MasterCraft's standalone net sales but only about 1.2 times the combined pro forma figure of $508.6 million. Enterprise value sits near 8.7 times the expected combined adjusted EBITDA of $64 million — slightly above the 7.2 times MasterCraft paid for Marine Products. Five firms cover the stock: one buy, four hold, price target $27.60.
On June 30, 2026 the board moved the fiscal year end from June 30 to December 31, effective July 1, 2026. The fiscal 2026 annual report is followed by a transition report covering only six months (July to December 2026); only calendar 2027 is a full comparison year again. Meanwhile the share count is already up by half while the acquired brands contribute only a fraction of their revenue.
MasterCraft rode out a hard cycle without debt — net sales from continuing operations fell from $609.9 million in fiscal 2023 to $284.2 million in fiscal 2025, and margins have been recovering noticeably through fiscal 2026. The company answered with the acquisition of Marine Products and its Chaparral and Robalo brands, completed on May 15, 2026 and paid for with $85.2 million of cash and 8,088,387 new shares. Pro forma revenue climbs to $508.6 million, but earnings per share fall from $0.65 to $0.55, cash drops from $75.4 million to $30.5 million, and 47 percent of the balance sheet now consists of goodwill and intangibles whose allocation is still preliminary. On top of that the fiscal year moves, which renders every time series unusable for one cycle. Not investment advice.
- Hook: rank 47 in our in-house Big Earnings Surprise ranking (U.S. selection), as of July 25, 2026 — based on adjusted earnings of $0.45 per share in the third quarter of fiscal 2026 against a consensus of $0.35. The scanner lists are recomputed daily.
- As-of dates: SEC figures as of June 30, 2025 (fiscal 2025), March 29, 2026 (third quarter of fiscal 2026) and May 15, 2026 (merger closing); market and consensus data as of July 25, 2026. Deliberately no daily prices.
- Risk of confusion: market data services partly still list MCFT as "MCBC Holdings Inc". The change of name to MasterCraft Boat Holdings, Inc. was effective November 7, 2018; the SEC carries MCBC Holdings, Inc. only as a former name.
- A second risk of confusion: share counts in data feeds lag the merger. The authoritative figures are 16,279,890 shares per the quarterly report cover page (as of May 1, 2026) plus the 8,088,387 new shares disclosed in the amendment of June 12, 2026.
- All revenue and earnings series in this analysis refer to continuing operations, meaning without the divested NauticStar and Aviara brands, exactly as the fiscal 2025 annual report restates them.
About the Company
MasterCraft Boat Holdings, Inc., through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates in two segments, MasterCraft and Pontoon. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating. The Pontoon segment provides pontoon boats for use in general recreational boating. The company also offers ski/wake and outboard boats, as well as various accessories, including trailers and aftermarket parts. It sells its boats under the MasterCraft, Crest, and Balise brands through a network of independent dealers in the United States 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 headquartered in Vonore, Tennessee.
| Employees | 700 |
|---|---|
| Headquarters | Vonore, TN |
| Address | 100 Cherokee Cove Drive, 37885 Vonore, United States |
| Phone | 423 884 2221 |
| Website | mastercraft.com |
| IPO Date | 17. Jul 2015 |
| ISIN | US57637H1032 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Bradley M. Nelson | CEO & Director | 1969 |
| Jim Brown | President | – |
| W. Scott Kent | Chief Financial Officer | – |
| Alec Harmon | Senior Director of Strategy & Investor Relations | – |
| Charlene Hampton | Vice President of Human Resources | – |
| Jan Morton | Chief Procurement Officer | – |
| Mike O'Connell | Senior VP of Operational Excellence & President of Pontoon Segment | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.