B

MasterCraft Boat Holdings, Inc. — Earnings Quality Grade B

MCFT · Consumer Cyclical

Generally healthy

Revenue
$284M
2025
Net Income
$7M
2025
Gross Margin
20.0%
Free Cash Flow
$26M
01

Screening Summary

14
Passed
2
Watch
0
Failed
-3.54
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 5 days, change -8 days YoY

A2AR vs Revenue Growth

AR growth -64.3% vs revenue growth -11.8%

A3Revenue vs CFFO

Revenue -11.8%, CFFO 184.8%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory -17.6% vs COGS -9.3%. Normal

B2CapEx vs Revenue

CapEx growth -12.6% vs revenue -11.8%. Normal

!
B3SG&A Ratio

SG&A/Gross Profit = 77.1%, exceeds 70%

B4Gross Margin

Gross margin 20.0%, change -2.2pp. Stable

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 5.05. Profits backed by cash

C2Free Cash Flow

FCF $0.0B, FCF/NI = 3.75

C3Accruals Ratio

Accruals ratio = -11.0%. Low accruals

C4Cash vs Debt

Insufficient data

04

Balance Sheet Health

!
D1Goodwill + Intangibles

Goodwill+Intangibles $0.1B = 33% of equity

D2Leverage

Leverage manageable

D3Soft Asset Growth

Other assets -80.2% vs revenue -11.8%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -3% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -3.54 (< -2.22). Unlikely manipulator

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04

Beneish M-Score

Manipulation Probability-3.54
-4.0 Clean-2.22 Grey-1.78 Danger0
0.405
DSRI
AR growing faster than revenue?
1.11
GMI
Gross margin declining?
0.942
AQI
Asset quality deteriorating?
0.882
SGI
Revenue growth rate
0.91
DEPI
Depreciation slowing?
1.175
SGAI
SG&A ratio changing?
-0.1098
TATA
Accruals level
0.649
LVGI
Leverage increasing?
05

Altman Z-Score

5.95
Safe Zone
0 Distress1.102.605.0+ Safe
0.2154
Liquidity
0.5027
Cumulative profit
0.0566
Operating efficiency
2.4015
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25