MasterCraft Boat Holdings (MCFT) AI Stock Analysis

• Market Cap: $376.60M
• Dividend Yield: N/A
• Average Volume (3M): 140.92K
• Price to Earnings (P/E): 26.0
• Beta (1Y): 1.09
• Revenue Growth: -12.17%
• EPS Growth: N/A
• Country: US
• Employees: 920
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Recreational Vehicles
• EPS (TTM): 0.29
• Shares Outstanding: 16,288,797
• 10 Day Avg. Volume: 157,916
• 30 Day Avg. Volume: 140,917
• PEG Ratio: -6.66
• Price to Book (P/B): 1.67
• Price to Sales (P/S): 1.08
• P/FCF Ratio: 11.58
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 1.20
• Enterprise Value/Gross Profit: 5.70
• Enterprise Value/Ebitda: 12.96
• 1Y Price Target: $20.35
• Price Target Upside: -11.98% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: $25.00 ▲(8.13% Upside)

MCFT’s score is driven primarily by resilient financial footing (no debt, strong liquidity) and improving operating momentum supported by a positive earnings update and raised guidance. Technicals are also constructive with the stock trading above major moving averages. Offsetting these positives, the valuation is high (P/E ~36.7) and near-term risks include demand uncertainty and execution/integration costs.

Positive Factors

Very strong balance sheet / no debt

A zero-debt capital structure with sizable equity provides durable financial flexibility: supports capex, working capital swings and M&A, lowers refinancing risk, and cushions cyclical downturns in discretionary boat demand over the next several quarters.

Improving revenue and margin momentum

Meaningful year-over-year revenue growth combined with ~480 bps EBITDA margin expansion shows improving product mix, pricing and cost control. Sustained operational leverage and raised guidance indicate these improvements can persist if dealer demand and redesigned models continue to drive mix.

Scale-building acquisition expands portfolio & dealers

The Marine Products combination materially broadens brand portfolio, model range and dealer coverage, creating cross-sell and manufacturing scale opportunities. Larger scale can lower per-unit costs and improve distribution resilience over a multi-quarter horizon.

Negative Factors

End-market demand uncertainty

Because MasterCraft's topline is driven by unit volumes and discretionary consumer spending, a structural softening or slower-than-expected retail recovery would pressure revenue, mix and margins for multiple quarters and limit the durability of recent margin gains.

Integration and synergy execution risk

Realizing projected synergies requires complex operational integration across plants, sourcing and independent dealer networks; execution shortfalls could delay cost savings, raise integration expenses, and reduce the transaction's accretive impact over 2-6 months.

Volatile cash flow and earnings vs prior-cycle peak

While FCF is positive TTM, historic volatility and a material step-down from FY2023 earnings power make cash generation sensitive to working-capital swings and demand cycles; this increases risk to funding growth, buybacks or elevated M&A costs if conditions worsen.

MasterCraft Boat Holdings Business Overview & Revenue Model

Company Description

MasterCraft 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.

How the Company Makes Money

MasterCraft Boat Holdings generates revenue primarily through the sale of its recreational powerboats. The company operates through a network of independent dealers who distribute its products across the United States and internationally. Key revenue streams include the sale of new boats, parts, and accessories. Additionally, MasterCraft offers financing and insurance services to customers, enhancing its revenue potential. Strategic partnerships with marine retailers and strong brand recognition contribute significantly to its earnings, along with a focus on innovation and customer satisfaction driving repeat business and enhancing market share.

MasterCraft Boat Holdings Financial Statement Overview

Summary

Financials are supported by a very strong balance sheet (no debt, sizable equity) and a return to positive operating/free cash flow. However, operating performance remains well below FY2023 peak levels and cash flow has been volatile, keeping the score in the moderate range.

Income Statement

TTM (Trailing-Twelve-Months) revenue is up (+1.282%), and profitability improved meaningfully versus FY2025 (net margin ~5.5% TTM vs ~2.5% FY2025). However, the bigger picture shows a sharp step-down from FY2023: revenue has fallen materially from FY2023 levels, and margins are far below the prior-cycle peak (FY2023 net margin ~10.4% vs ~5.5% TTM). Overall, earnings power is recovering but remains volatile and well off prior highs.

Balance Sheet

The balance sheet is a clear strength: TTM (Trailing-Twelve-Months) and FY2025 show zero total debt and a sizable equity base (~$186M TTM) supporting assets (~$259M). This is a major improvement from earlier years when leverage was moderate-to-high (debt-to-equity ~0.86 in FY2021). Return on equity is positive but currently modest (~8.7% TTM), reflecting lower profitability despite the strong capital structure.

Cash Flow

Cash generation is positive in TTM (Trailing-Twelve-Months) with operating cash flow of ~$26.4M and free cash flow of ~$16.3M, and free cash flow remains a solid share of net income (~74%). The main weakness is volatility: free cash flow declined sharply (TTM growth -38.3%) and was negative in FY2024, indicating sensitivity to operating conditions and/or working-capital swings. Still, cash flow quality looks healthier than the FY2024 trough.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	287.85M	284.20M	366.59M	609.90M	641.61M	465.96M
Gross Profit	60.46M	56.87M	67.10M	168.74M	168.19M	125.13M
EBITDA	26.60M	24.28M	24.60M	133.18M	125.93M	86.28M
Net Income	15.82M	7.04M	7.80M	68.94M	58.21M	56.17M
Balance Sheet
Total Assets	259.31M	259.95M	317.98M	353.98M	297.05M	276.46M
Cash, Cash Equivalents and Short-Term Investments	31.76M	79.44M	86.24M	111.38M	34.20M	39.25M
Total Debt	0.00	0.00	49.26M	53.68M	56.55M	93.14M
Total Liabilities	73.58M	76.36M	134.10M	161.89M	153.40M	168.67M
Stockholders Equity	185.73M	183.39M	183.68M	191.97M	143.65M	107.79M
Cash Flow
Free Cash Flow	16.28M	26.39M	-3.86M	109.63M	61.02M	40.68M
Operating Cash Flow	26.35M	35.59M	12.50M	134.20M	73.31M	68.54M
Investing Cash Flow	49.73M	46.04M	-1.78M	-121.43M	-15.82M	-27.83M
Financing Cash Flow	-58.49M	-60.10M	-23.14M	-27.15M	-62.54M	-17.77M

MasterCraft Boat Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 23.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MCFT, the sentiment is Positive. The current price of 23.12 is above the 20-day moving average (MA) of 21.96, above the 50-day MA of 20.19, and above the 200-day MA of 19.77, indicating a bullish trend. The MACD of 0.75 indicates Negative momentum. The RSI at 74.59 is Negative, neither overbought nor oversold. The STOCH value of 77.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MCFT.

MasterCraft Boat Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MCFT	70 Outperform	$376.60M	26.03	7.40%	―	-12.17%	―
MPX	70 Outperform	$347.89M	30.53	10.00%	6.03%	-12.30%	-29.51%
MBUU	68 Neutral	$665.43M	41.80	3.72%	―	11.54%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ONEW	47 Neutral	$233.25M	-1.98	-35.49%	―	5.62%	-1706.59%
VEEE	47 Neutral	$3.53M	-0.20	-59.55%	―	-34.70%	36.13%
VMAR	42 Neutral	$3.27M	―	―	―	-66.16%	78.81%

MasterCraft Boat Holdings Corporate Events

MasterCraft Boat to Acquire Marine Products in Merger

On February 5, 2026, MasterCraft Boat Holdings agreed to acquire Marine Products Corporation in a stock-and-cash transaction that will make Marine Products a wholly owned subsidiary through a two-step merger structure. Marine Products shareholders will receive 0.232 shares of MasterCraft common stock plus $2.43 in cash for each Marine Products share, with restricted stock and performance stock units generally vesting and converting into the same mix of consideration, and certain 2026 restricted awards rolling into MasterCraft equity. The deal will expand MasterCraft’s scale in the marine sector and comes with governance changes, including enlarging MasterCraft’s board from seven to ten members to add three Marine Products-linked directors and giving key Marine Products shareholders nomination rights for up to two directors for as long as they hold specified voting stakes. Voting, stockholder and registration rights agreements signed concurrently with the merger pact lock up a controlling Marine Products shareholder bloc that holds about 69.1% of voting power, restrict post-closing share sales, impose standstill and voting commitments, and grant significant registration and liquidity rights, including underwritten shelf offerings that MasterCraft may pre-empt by purchasing the shares itself. The merger is subject to customary conditions, such as approvals from both companies’ shareholders, antitrust clearance, SEC registration effectiveness, Nasdaq listing of the new shares, and absence of a material adverse effect, and includes mutual termination rights with a $11.6 million fee payable by either party in certain deal-failure scenarios. To support the transaction and enhance financial flexibility, MasterCraft on February 5, 2026 amended its credit facility, extending revolver maturity to 2031, trimming commitments to $75 million, increasing accordion capacity to up to $100 million, revising key leverage and interest coverage covenants, and loosening certain restricted-payment and indebtedness baskets. Separately, on February 4, 2026, MasterCraft adopted an Executive Severance Plan that provides its CEO and other named executives with enhanced cash, equity-vesting and benefits protections in the event of qualifying terminations, particularly during the two-year period following a change in control, aligning leadership incentives and retention with the pending merger.

The most recent analyst rating on (MCFT) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on MasterCraft Boat Holdings stock, see the MCFT Stock Forecast page.

MasterCraft Boat to Acquire Marine Products, Boosts Outlook

On February 5, 2026, MasterCraft Boat Holdings reported that fiscal 2026 second-quarter results for the period ended December 28, 2025, showed a sharp rebound in performance, with net sales rising 13.2% year on year to $71.8 million and income from continuing operations climbing to $2.5 million, alongside stronger adjusted earnings and EBITDA and an $81.4 million cash and investments position, driven by favorable mix, higher unit volumes, pricing and tighter cost control. On the same day the company unveiled a definitive agreement to acquire Marine Products Corporation, a major recreational and sport fishing powerboat manufacturer, and disclosed an expanded $75 million revolving credit facility maturing in 2031, moves that, combined with raised full-year 2026 guidance and ongoing investment in innovation and operational efficiency, signal a bid to broaden its portfolio, strengthen dealer networks and manufacturing capabilities, and reinforce its competitive position in the powerboat market, although the upgraded outlook excludes the impact of the pending Marine Products combination.

The most recent analyst rating on (MCFT) stock is a Hold with a $23.00 price target. To see the full list of analyst forecasts on MasterCraft Boat Holdings stock, see the MCFT Stock Forecast page.