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Fundamentals snapshot

TruGolf Holdings, Inc.

TRUG · NCM · Communication Services · Electronic Gaming & Multimedia

Current price

$0.58

52-week range

$0.54 - $217.00

Market cap

$847.35K

One-glance verdict

Undervalued

$24.44 our estimate vs market $0.58

Wall Street consensus: $60.00 (145.5% higher than our fair-value estimate)

Balance sheet

Healthy

-1.87x Concerning

Net cash $2.48M. Interest coverage shows how many times profit covers the interest bill.

What this company does

TruGolf Holdings, Inc.

TruGolf Holdings, Inc. creates and sells golf simulators, from home-use models to larger commercial setups. The company also makes money from the software that runs these simulators, which is important because this software often generates recurring revenue (income that comes in regularly over time, like a subscription), giving the company a steady income stream. This combination of hardware and software sales is how they make their money and why their business model is built around both aspects.

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.

Free cash flow by quarter (oldest to newest)
FY2024 Q4 $-7.36M FY2025 Q1 $-513.28K FY2025 Q2 $-923.62K FY2025 Q3 $-675.90K FY2025 Q4 $172.59K FY2026 Q1 $-200.43K FY2026 Q2 $-1.38M
Revenue $5.79M
Net income $-447.81K
Diluted EPS -0.37
Operating cash flow $-1.28M
Free cash flow $-1.38M
Revenue $5.02M
Net income $-1.45M
Diluted EPS -2.75
Operating cash flow $-122.20K
Free cash flow $-200.43K
Revenue $5.07M
Net income $-1.96M
Diluted EPS 2.35
Operating cash flow $280.03K
Free cash flow $172.59K
Revenue $4.11M
Net income $-7.28M
Diluted EPS -4.87
Operating cash flow $-623.87K
Free cash flow $-675.90K
Revenue $4.31M
Net income $-3.32M
Diluted EPS -4.63
Operating cash flow $-905.43K
Free cash flow $-923.62K
Revenue $5.39M
Net income $-2.67M
Diluted EPS -44.24
Operating cash flow $-449.12K
Free cash flow $-513.28K
Revenue $11.21M
Net income $-5.86M
Diluted EPS -0.42
Operating cash flow $-7.07M
Free cash flow $-7.36M
Revenue $6.24M
Net income $-60.17K
Diluted EPS 0.00
Operating cash flow $455.81K
Free cash flow —

Is it cheap or expensive?

Fair value $24.44 vs current price $0.58

Wall Street consensus is the average analyst price target: $60.00 (145.5% higher than our fair-value estimate).

Our most-likely fair value is $24.44 a share — about 4,128.5% above today's price of $0.58, so the stock currently looks cheap (undervalued).

undervalued

We estimate the cash this business should generate over the next 10 years and beyond, then convert it to today's money for a fair value per share, in its trading currency. Cautious, middle and optimistic growth cases give a range. Not for banks/insurers.

Base

Growth 13.0% · Discount 7.2% · Terminal 3.0%

$24.44

Bear

Growth 10.0% · Discount 7.2% · Terminal 3.0%

$20.82

Bull

Growth 13.0% · Discount 7.2% · Terminal 3.0%

$24.44

Is it drowning in debt?

Healthy

Net cash $2.5M - more cash than debt. Interest coverage -1.9x.

Net debt $-2.48M
Interest coverage -1.87x

TruGolf Holdings, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.

Healthy
Worse cushion Baseline Better cushion
TRUG BASELINE TruGolf Holdings, Inc.

Total debt $3.89M Interest coverage -1.87x This is the baseline the peer rows are being compared against.

-1.87x
MSGM Motorsport Games Inc.

Total debt $1.43M Interest coverage 172.94x This peer still has a real interest-payment cushion, while TRUG does not.

172.94x
INSE Inspired Entertainment, Inc.

Total debt $343.20M Interest coverage 0.91x This peer still has a real interest-payment cushion, while TRUG does not.

0.91x
GAME GameSquare Holdings, Inc.

Total debt $13.48M Interest coverage -20.56x Neither company has much profit cushion over interest right now.

-20.56x
SNAL Snail, Inc.

Total debt $12.87M Interest coverage -23.83x Neither company has much profit cushion over interest right now.

-23.83x
GOLF Acushnet Holdings Corp.

Total debt $1.01B Interest coverage 5.04x This peer still has a real interest-payment cushion, while TRUG does not.

5.04x

What you should know

The case for and against TRUG

3 Rewards 3 Risks

Rewards

  • Revenue grew 5.9% last year.
  • Free cash flow was positive in 1/10 years.
  • Trades at 0.0x P/E vs peer median 16.9x (100.0% cheaper).

Risks

  • Return on equity was -349.3% last year — the company lost money on shareholders' equity.
  • Insider ownership is only 0.7% (peer median: 14.2%).
  • Operating margin compressed from 5.4% to -3.8% over 3 years.

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)
0.00x
Forward P/E
—
P/B
0.05x
P/S
0.04x
EV/EBITDA
0.63x
PEG ratio
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Profitability

How much profit each dollar creates

Gross margin
52.3%
Operating margin
-3.8%
Net margin
-55.7%
ROE
-349.3%
ROA
-13.3%

Health

Liquidity and balance-sheet strength

Debt / equity
1.89x
Current ratio
0.84x
Quick ratio
0.53x
Total debt
$3.89M
Total cash
$6.37M

Growth

How the business has been compounding

Revenue TTM
$19.99M
Revenue 5Y CAGR
-13.6%
EPS TTM
313.30
EPS 5Y CAGR
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Cash flow

How much cash the business throws off

Operating CF TTM
$-1.74M
Free CF TTM
$-5.14M
FCF margin
-25.7%

Dividend

Shareholder payout

Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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