MCFTMasterCraft Boat Holdings, Inc.
Ship & Boat Building & Repairing
- Revenue
- $349M
- 23% YoY
- Operating margin
- -0.3%
- 108% YoY
- EBITDA
- $13M
- 40% YoY
- Market cap
- $525M
- Employees
- 1,400
- $249K revenue each
- Net debt / EBITDA
- 0.4×
- $6M net debt
- AI in 10-K
- 0.7
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowYes270% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo27% of assetsOver 40% of assets
- Shareholder dissentNo100% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$249K · 22nd pctBottom quartile of its SIC industry
- Quiet on AINo0.7 per 10K words · 27th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo0.4× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$525M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$1M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $642M | $610M | $322M | $284M | $349M | 23% |
| Operating income | $116M | $121M | $27M | $11M | −$1M | 110% |
| Net income | $58M | $69M | $8M | $7M | −$2M | 124% |
| Operating cash flow | $73M | $134M | $12M | $36M | $31M | 14% |
| Capex | $12M | $25M | $11M | $9M | $8M | 12% |
| Stock-based comp | $4M | $3M | $3M | $3M | $4M | 41% |
| Buybacks | $25M | $23M | $16M | $10M | $2M | 76% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Sep 21, 2026 | ROLLINS GARY W | SCHEDULE 13D/A | 2.9% | Passive |
| May 22, 2026 | ROLLINS GARY W | SCHEDULE 13D | 2.9% | Passive |
| May 19, 2026 | Coliseum Capital Management, LLC | SCHEDULE 13D/A | 42.8% | Passive |
| Dec 22, 2025 | Coliseum Capital Management, LLC | SCHEDULE 13D/A | 22.7% | Passive |
| Dec 30, 2024 | Coliseum Capital Management, LLC | SCHEDULE 13D/A | 0.4% | Passive |
| Jun 17, 2024 | Coliseum Capital Management, LLC | SC 13D/A | 19.2% | Passive |
| Jun 10, 2024 | Coliseum Capital Management, LLC | SC 13D/A | 18.1% | Passive |
| May 22, 2024 | Coliseum Capital Management, LLC | SC 13D/A | 16.9% | Passive |
| May 10, 2024 | Coliseum Capital Management, LLC | SC 13D/A | 14.8% | Passive |
| Apr 12, 2024 | Coliseum Capital Management, LLC | SC 13D/A | 13.1% | Passive |
Insider trading
- Open-market buys, 12 mo
- $3M · 7
- Open-market sells, 12 mo
- $4M · 7
- Net
- −$1M
Pay vs performance
No pay-versus-performance disclosure yet.