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Mastercraft Boat Holdings, Inc.

MCFT

Ship & Boat Building & Repairing

Mkt Cap

$368.4M

PE

6.43

Debt

$55.81M

Cash

$36.25M

EV

$388M

FCF

$49.74M

Market Cap

$368.4M

P/E Ratio

6.43

Debt

$55.81M

Cash

$36.25M

EV

$388M

FCF

$49.74M
Charts data: {"Earnings":[{"time":"2014-06-29","value":19927000},{"time":"2015-06-29","value":5534000},{"time":"2016-06-29","value":10210000},{"time":"2017-06-29","value":19570000},{"time":"2018-06-29","value":39653000},{"time":"2019-06-29","value":21354000},{"time":"2020-06-29","value":-24047000},{"time":"2021-06-29","value":56170000},{"time":"2022-06-29","value":58214000},{"time":"2023-06-29","value":68937000}],"Sales":[{"time":"2014-06-29","value":177587000},{"time":"2015-06-29","value":214386000},{"time":"2016-06-29","value":221600000},{"time":"2017-06-29","value":228634000},{"time":"2018-06-29","value":332725000},{"time":"2019-06-29","value":466381000},{"time":"2020-06-29","value":363073000},{"time":"2021-06-29","value":525808000},{"time":"2022-06-29","value":707862000},{"time":"2023-06-29","value":662046000}],"Net Margins":[{"time":"2014-06-29","value":0.11220979013103437},{"time":"2015-06-29","value":0.0258132527310552},{"time":"2016-06-29","value":0.04607400722021661},{"time":"2017-06-29","value":0.08559531828162041},{"time":"2018-06-29","value":0.11917649710722068},{"time":"2019-06-29","value":0.04578659936832761},{"time":"2020-06-29","value":-0.06623185970865363},{"time":"2021-06-29","value":0.10682606578827253},{"time":"2022-06-29","value":0.08223919351512018},{"time":"2023-06-29","value":0.10412720566244642}],"Assets":[{"time":"2015-06-29","value":89676000},{"time":"2016-06-29","value":82533000},{"time":"2017-06-29","value":83321000},{"time":"2018-06-29","value":176924000},{"time":"2019-06-29","value":248773000},{"time":"2020-06-29","value":207923000},{"time":"2021-06-29","value":276460000},{"time":"2022-06-29","value":297052000},{"time":"2023-06-29","value":353976000}],"Stockholders Equity":[{"time":"2014-06-29","value":-3787000},{"time":"2015-06-29","value":-42253000},{"time":"2016-06-29","value":-8379000},{"time":"2017-06-29","value":11761000},{"time":"2018-06-29","value":52522000},{"time":"2019-06-29","value":72316000},{"time":"2020-06-29","value":48870000},{"time":"2021-06-29","value":107788000},{"time":"2022-06-29","value":143648000},{"time":"2023-06-29","value":192089000}],"ROE":[{"time":"2014-06-29","value":-5.26194877211513},{"time":"2015-06-29","value":-0.13097294866636688},{"time":"2016-06-29","value":-1.2185224967179855},{"time":"2017-06-29","value":1.6639741518578353},{"time":"2018-06-29","value":0.75497886599901},{"time":"2019-06-29","value":0.2952873499640467},{"time":"2020-06-29","value":-0.49206056885614896},{"time":"2021-06-29","value":0.5211155230637919},{"time":"2022-06-29","value":0.40525451102695476},{"time":"2023-06-29","value":0.35888051892612277}],"ROA":[{"time":"2015-06-29","value":0.2667380347027075},{"time":"2016-06-29","value":0.26669332267093165},{"time":"2017-06-29","value":0.4022395314506547},{"time":"2018-06-29","value":0.31642400126608033},{"time":"2019-06-29","value":0.13369216112681037},{"time":"2020-06-29","value":-0.12777326221726312},{"time":"2021-06-29","value":0.2747341387542502},{"time":"2022-06-29","value":0.26209889177652396},{"time":"2023-06-29","value":0.3321891879675458}]}

MasterCraft Boat Holdings, Inc., through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through MasterCraft, Crest, and Aviara segments. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating. Crest segment provides pontoon boats for use in general recreational boating. The Aviara segment produces luxury day 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, 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 incorporated in 2000 and is headquartered in Vonore, Tennessee.

Sector

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Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$49.74M$57.82M$66.48M$75.62M$85.07M$94.63M$104.1M$113.2M$121.7M$129.3M$135.8M$1.358B
DCF$50.27M$50.27M$49.72M$48.64M$47.05M$45M$42.56M$39.78M$36.75M$33.56M$335.6M
Value$779.2M

In the chart Earnings are multiplied by this value.

Earnings Growth 32%
Earnings Stability 60%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years06-201506-201606-201706-201806-201906-202006-202106-202206-2023TTM
Net Margin2.6%4.6%8.6%12%4.6%-6.6%11%8.2%10%11%
ROA27%27%40%32%13%-13%27%26%33%23%
ROE-13%-120%170%75%30%-49%52%41%36%30%

What is the average Net Margin?

The average Net Margin over the past 5 years is +6.53%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +0.59%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +19.86%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +2.48%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +30.72%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -1.82%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years06-201506-201606-201706-201806-201906-202006-202106-202206-2023TTM
Debt FCF3.622.231.731.822.937.372.080.890.551.12
Debt Equity-1.86-7.173.241.531.692.400.890.410.300.29
MIN
Graham Stability--100%100%92%-90%100%100%100%-90%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 1.12.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -0.51.

What is the Graham’s Stability?

Graham’s Stability measure stands at -0.90.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years06-201606-201806-202006-2022Trend
Revenue17%15%22%-6.5%0.01%
Net Income31%12%-18%-1.6%
Stockholders Equity-30%58%34%-41%
FCF22%19%88%60%8.1%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +14.75%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +0.01%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +11.7%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -1.63%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +29.61%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -40.7%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +19.29%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is +8.06%.