One-glance verdict
Undervalued
$45.36 our estimate vs market $19.52
Wall Street consensus: $24.00 (-47.1% lower than our fair-value estimate)
57% below our estimate, below the bear case
Fundamentals snapshot
Escalade, Incorporated
ESCA · NGM · Consumer Cyclical · Leisure
Current price
$19.52
52-week range
$11.41 - $23.07
Market cap
$268.71M
Balance sheet
Healthy
22.40x Strong cushion
Net cash $250.00K. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Revenue grew 1.5% last year.
- Reward Returns 13.1% on equity, ahead of 40% of its peers.
- Reward Free cash flow was positive in 8/10 years.
What this company does
Escalade, Incorporated
Escalade makes and sells sporting goods for home and recreational use, including well-known brands like Goalrilla basketball hoops, STIGA ping-pong tables, and Bear Archery equipment. The company's large collection of brands across many different sports helps protect its business, as a decline in popularity for one activity might be balanced out by strong sales in another. This variety means the company isn't overly reliant on a single product's success.
How the company got here
Escalade's story begins with the combination of two older companies in the early 1970s: an Ohio-based footwear maker founded in 1922 and an Indiana-based archery and toy company started in 1927. Over the years, it expanded by buying other companies, adding products like table tennis in the 1960s, pool tables in the 1970s, and basketball hoops in the 1980s. To focus on its strengths, the company later sold off unrelated businesses, like office products, to concentrate entirely on sporting goods and recreation. This long history of buying and selling different product lines has shaped it into the broad sporting goods company it is today.
What it actually does
Escalade makes and sells a wide variety of sporting goods and recreational equipment that you would find in stores, online, or in someone's backyard or game room. The company owns a collection of well-known brands that people recognize. They sell their products through big retailers like Dick's Sporting Goods and Amazon, as well as through smaller specialty stores and directly to customers online. Think of them as a company that provides the gear for family fun, fitness, and hobbies.
Archery
This is the company's original and oldest business, dating back to 1927. It includes everything from bows for beginners to high-performance equipment for serious hunters and target shooters under brand names like Bear Archery, Trophy Ridge, and Gold Tip. Customers are typically hunting enthusiasts and sports archers who buy this equipment from specialty dealers and sporting goods stores. This segment is a core part of Escalade's identity and a strategic priority for the company.
Basketball & Playground
This part of the business focuses on making high-end basketball hoops that are installed in driveways, as well as playground equipment for backyards. You might recognize brands like Goalrilla, Goalsetter, and Woodplay. The main customers are homeowners and families who are looking to create recreational spaces at home. Escalade is a market leader in these residential, in-ground basketball systems.
Indoor Games & Billiards
This segment provides the equipment for classic game rooms, including billiard (pool) tables, table tennis (ping-pong), air hockey, and dartboards. They own iconic brands like Brunswick Billiards, STIGA, Ping-Pong, and Arachnid. Customers range from families setting up a basement game room to serious players and even pubs. By acquiring famous brands like Brunswick, Escalade has become a major player in the premium game room market.
Outdoor & Water Sports
This business line covers a variety of games meant for backyards, tailgating, and the beach, such as cornhole and other lawn games under brands like Victory Tailgate. It also includes water recreation products like floats and towables from its RAVE Sports brand. These products are sold to families and individuals looking for outdoor fun. This area has grown through acquisitions (the buying of other companies) to expand Escalade's reach into different types of outdoor activities.
Fitness & Pickleball
A growing part of Escalade's business includes fitness equipment and gear for pickleball, one of the fastest-growing sports. They own fitness brands like The STEP and Lifeline, and the popular Onix brand for pickleball paddles and balls. The customers are health-conscious individuals, fitness enthusiasts, and a wave of new pickleball players. This segment taps into modern trends around personal health and new, popular sports.
What management is betting on now
The company's current strategy focuses on four main pillars: innovating new products, operating efficiently, generating strong financial performance, and allocating (deciding where to spend) money wisely to grow the business. A key part of this strategy is making smart acquisitions (buying other companies) to add strong brands, especially in their core areas like archery. Management aims to be a leader in niche sports and recreation categories while building a more direct connection with the people who buy their products.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$10.15M
FY2024 Q4
$11.73M
FY2025 Q1
$3.25M
FY2025 Q2
$12.86M
FY2025 Q3
$-1.26M
FY2025 Q4
$13.65M
FY2026 Q1
$5.29M
FY2026 Q2
$8.23M
Revenue
$57.70M
Net income
$9.43M
Diluted EPS
0.68
Operating cash flow
$8.67M
Free cash flow
$8.23M
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Sources
Revenue
$55.78M
Net income
$4.38M
Diluted EPS
0.32
Operating cash flow
$6.14M
Free cash flow
$5.29M
Fetching…
Sources
Revenue
$62.56M
Net income
$3.70M
Diluted EPS
0.27
Operating cash flow
$14.90M
Free cash flow
$13.65M
Fetching…
Sources
Revenue
$67.79M
Net income
$5.55M
Diluted EPS
0.40
Operating cash flow
$-965.00K
Free cash flow
$-1.26M
Fetching…
Sources
Revenue
$54.33M
Net income
$1.82M
Diluted EPS
0.13
Operating cash flow
$13.29M
Free cash flow
$12.86M
Fetching…
Sources
Revenue
$55.48M
Net income
$2.62M
Diluted EPS
0.19
Operating cash flow
$3.79M
Free cash flow
$3.25M
Fetching…
Sources
Revenue
$63.94M
Net income
$2.70M
Diluted EPS
0.20
Operating cash flow
$12.29M
Free cash flow
$11.73M
Fetching…
Sources
Revenue
$67.74M
Net income
$5.67M
Diluted EPS
0.40
Operating cash flow
$10.46M
Free cash flow
$10.15M
Fetching…
Sources
Is it cheap or expensive?
Fair value $45.36 vs current price $19.52
Wall Street consensus is the average analyst price target: $24.00 (-47.1% lower than our fair-value estimate).
Our most-likely fair value is $45.36 a share — about 132.4% above today's price of $19.52, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net cash $250,000 - more cash than debt. Interest coverage 22.4x.
Net debt
$-250.00K
Interest coverage
22.40x
Escalade, Incorporated's profit covers its interest bill about 22.4 times over. which is stronger than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
ESCA
BASELINE
Escalade, Incorporated
Total debt $16.14M Interest coverage 22.40x This is the baseline the peer rows are being compared against.
Total debt $51.63M Interest coverage -72.28x -100% vs ESCA This peer has almost no interest-payment cushion compared with ESCA.
Total debt $3.74B Interest coverage 0.90x -96% vs ESCA Carries about 24.9x less debt cushion than ESCA.
Total debt $253.03M Interest coverage 482.07x +2,052% vs ESCA Carries about 21.5x more debt cushion than ESCA.
Total debt $1.09B Interest coverage 5.04x -77% vs ESCA Carries about 4.4x less debt cushion than ESCA.
What you should know
The case for and against ESCA
3 Rewards
0 Risks
Rewards
-
Revenue grew 1.5% last year.
-
Returns 13.1% on equity, ahead of 40% of its peers.
-
Free cash flow was positive in 8/10 years.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
11.69x
Forward P/E
9.96x
P/B
1.47x
P/S
1.10x
EV/EBITDA
7.61x
PEG ratio
1.05x
Profitability
How much profit each dollar creates
Gross margin
28.2%
Operating margin
20.7%
Net margin
9.5%
ROE
13.1%
ROA
8.3%
Health
Liquidity and balance-sheet strength
Debt / equity
0.09x
Current ratio
3.21x
Quick ratio
1.36x
Total debt
$16.14M
Total cash
$16.39M
Growth
How the business has been compounding
Revenue TTM
$243.83M
Revenue 5Y CAGR
-6.5%
EPS TTM
1.67
EPS 5Y CAGR
-8.9%
Cash flow
How much cash the business throws off
Operating CF TTM
$28.75M
Free CF TTM
$28.50M
FCF margin
11.7%
Dividend
Shareholder payout
Yield
3.1%
Payout ratio
36.2%
Last ex-div date
2026-10-06