ESCALADE INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ESCALADE INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	190	196	176	181	274	314	314	264	252	240
Cost of revenue	127	133	131	138	199	236	240	202	189	176
Gross profit	62.6	63.2	45	42.4	74.8	77.1	73.6	61.8	62.2	64.6
Research and development	1.5	1.6	1.5	1.6	1.5	2	2.7	3.1	3.2	3.2
Selling, general and administrative	27.4	28.5	29.8	31.6	40.3	43.4	44.8	41.5	43.3	43.6
Operating income	14.6	14.6	13.8	9.28	33	31.9	26.3	17.8	20	18.7
Interest expense	0.83	0.8	0.43	0.36	0.25	1.51	3.78	5.35	2.3	0.84
Other non-operating income	0.12	-0.17	-0.09	0.02	0.14	0.16	0.08	0.03	0.07	0.13
Pre-tax income	15.5	15.5	26.4	8.93	32.9	30.5	22.6	12.5	17.8	18
Income tax	4.05	1.46	6	1.68	6.99	6.14	4.63	2.66	4.79	4.32
Net income	11.5	14.1	20.4	7.26	25.9	24.4	18	9.83	13	13.7
EBITDA	19.8	18.5	17.7	13.3	37	36.7	32.4	23.5	26	23.8
EPS, basic	0.81	0.98	1.42	0.50	1.84	1.78	1.33	0.72	0.94	1.00
EPS, diluted	0.80	0.98	1.41	0.50	1.82	1.76	1.31	0.71	0.93	0.99
Shares, basic (weighted)	14.3	14.4	14.4	14.4	14.1	13.7	13.6	13.7	13.8	13.8
Shares, diluted (weighted)	14.3	14.4	14.5	14.4	14.2	13.9	13.7	13.9	14	13.9

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1.01	1.57	2.82	5.88	3.51	4.37	3.97	0.02	4.19	11.9
Receivables	35.9	39.4	40.7	35.5	65.3	66	57.4	50	48.8	46.3
Inventory	33.8	35.2	39.1	42.3	72.5	92.4	122	92.5	76	68.5
Other current assets	0	0	0	0	4.07	7.57	4.94	4.28	4.37	3.35
Total current assets	75.6	80.3	87.9	86.9	145	171	188	147	134	131
Property, plant and equipment	13.7	14.3	15.5	15.1	18.2	24.9	24.8	23.8	22.2	22.4
Lease right-of-use assets			0	1.08	1.61	2.21	9.1	8.38	1.19	1.28
Goodwill	21.5	21.5	26.4	26.7	32.7	32.7	42.3	42.3	42.3	42.3
Intangible assets	20.9	19.7	19.8	18.8	22.6	20.8	31.1	28.6	25.8	25.4
Other non-current assets	0.08	0.04	0	0.08	0.13	0.12	0.4	0.39	0.94	0.13
Total assets	151	156	150	149	221	252	299	253	226	222
Accounts payable	4.38	4.3	5.63	7.77	20.9	15.8	9.41	9.8	11.9	9.15
Accrued liabilities	12.8	14	11.1	9.69	24.3	24.4	21.3	15.3	15.1	13.7
Deferred revenue			0.41
Short-term debt	1.25	1.25	0		0	7.14	7.14	7.14	7.14	7.14
Total current liabilities	18.4	19.5	16.7	18.2	46.1	48.2	38.9	33.3	34.5	30.5
Long-term debt	24.2	21.9	0	0	30.1	50.4	87.7	43.8	18.5	11.3
Lease liabilities			0	0.48	0.76	1.39	8.64	7.9	0.79	0.8
Other non-current liabilities	0	0.55	1.09	0.39	0.45	0.45	0.41	0.39	0.3	0
Total liabilities	49	44.4	21.2	22.6	81.5	105	140	88.4	57.3	48.9
Total debt	25.4	23.1	0	0	30.1	57.5	94.9	50.9	25.6	18.5
Retained earnings	91.7	99.9	114	112	125	133	145	160	165	170
Other comprehensive income	-4.28	-2.61	0
Shareholders' equity	102	112	128	126	139	147	158	165	169	173
Total equity	102	112	128	126	139	147	158	165	169	173
Total liabilities and equity	151	156	150	149	221	252	299	253	226	222
Shares outstanding	14.3	14.4	14.4	14.2	13.9	13.5	13.6	13.7	13.7	13.7

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	11.5	14.1	20.4	7.26	25.9	24.4	18	9.83	13	13.7
Depreciation and amortization	5.24	3.91	3.86	4.03	4.02	4.84	6.06	5.67	6.04	5.06
Stock-based compensation	0.4	0.52	0.6	0.51	1.02	0.9	1.97	2.01	1.93	1.65
Deferred income tax	-0.37	-2.95	0.94	0.13	0.66	0.57	-0.24	-1.39	0.18	3
Change in receivables	2.71	-3.37	-1.14	4.91	-29.9	-0.3	9.74	6.87	0.47	1.47
Change in inventory	-6.55	-0.47	-3.36	-3.15	-26.4	-19.9	-15.8	29.4	16.4	7.55
Change in payables	-0.69	1.11	-3.99	0.04	26.9	-4.99	-14.7	-5.72	2.63	-4.39
Cash from operations	12.2	13.4	6.51	16	2.63	0.94	8.52	48.3	36	31
Capital expenditures	-2.65	-2.75	-2.82	-2.19	-5.46	-9.7	-2.11	-2.09	-2.04	-2.51
Acquisitions	-9.66	-1.45	-7.17	-0.77	-15.4	0	-35.8
Purchases of investments	-0.06	0	0
Cash from investing	-9.8	-4.19	24.9	-2.95	-21	-9.65	-37.8	-1.95	3.93	-4.81
Debt issued	65.9	56.7	28	77.5	84	232	197	94	115	26.2
Debt repaid	-63.6	-59	-51.1	-77.5	-54	-205	-160	-138	-140	-33.4
Stock issued	0.55	0.16	0.05	0.12	0.14	0.14	0
Share buybacks	0	0	-0.01	-2.94	-6.74	-10.4	0	0	-2.19	-3.1
Dividends paid	-6.28	-6.61	-7.22	-7.2	-7.47	-7.69	-8.15	-6.18	-8.31	-8.28
Cash from financing	-3.34	-8.61	-30.1	-10	16	9.58	28.9	-50.3	-35.8	-18.5
Exchange rate effect	0
Net change in cash	-0.97	0.56	1.25	3.06	-2.38	0.87	-0.41	-3.95	4.18	7.68
Free cash flow	9.52	10.6	3.69	13.9	-2.82	-8.76	6.41	46.2	34	28.5
Interest paid	0.87	0.79	0.42	0.35	0.21	1.43	3.87	5.33	2.23	0.81
Income taxes paid	3.33	3.82	4.84	1.38	6.21	6.28	4.14	4.26	4.99	1.71

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $19.52 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	28.2%	Gross profit / revenue.
Operating margin	12.4%	Operating income / revenue.
EBITDA margin	14.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	12.3%	Pre-tax income / revenue.
Net margin	9.5%	Net income / revenue.
FCF margin	10.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.8%	Cash from operations / revenue.
Effective tax rate	23.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	9.8%	Net income / average total assets.
Return on invested capital (ROIC)	12.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	18.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.2%	Capital expenditures / revenue.
D&A / revenue	2.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-4.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-8.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-2.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-4.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-2.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-6.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-10.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-10.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-8.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-9.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-8.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	5.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-8.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-12.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	6.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-8.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-11.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-14.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	53.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	63.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-16.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	64.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	2.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	4.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-9.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	0.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.21x	Current assets / current liabilities.
Quick ratio	1.36x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.36x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.08x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	6.3%	Total debt / total assets.
Liabilities / assets	22.1%	Total liabilities / total assets.
Net debt	-$1.5M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.04x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	40.7x	Operating income / interest expense.
Working capital	$99.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	28.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$116.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.04x	Revenue / average total assets.
Fixed asset turnover	10.9x	Revenue / average property, plant and equipment.
Inventory turnover	2.46x	Cost of revenue / average inventory.
Days inventory	148 days	365 x average inventory / cost of revenue.
Receivables turnover	5.47x	Revenue / average receivables.
Days sales outstanding	67 days	365 x average receivables / revenue.
Days payables	32 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	183 days	Days inventory + days sales outstanding - days payables.
FCF conversion	112.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	9.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.66	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$17.54	Revenue / diluted weighted shares.
FCF per share	$1.86	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.07	Cash from operations / diluted weighted shares.
Book value per share	$13.27	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$8.43	Tangible book value / shares outstanding.
Cash per share	$1.19	(Cash + short-term investments) / shares outstanding.
Payout ratio	36.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	32.0%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	8.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$268.7M	Share price x shares outstanding.
Enterprise value	$267.2M	Market cap + total debt - cash - short-term investments.
P/E	11.6x	Market cap / net income. Only when net income is positive.
P/S	1.10x	Market cap / revenue.
P/B	1.47x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.32x	Market cap / tangible book value, when positive.
P/FCF	10.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.35x	Market cap / cash from operations, when positive.
EV/Sales	1.10x	Enterprise value / revenue.
EV/EBIT	8.84x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.57x	Enterprise value / EBITDA, when both are positive.
EV/FCF	10.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.6%	Free cash flow / market cap.
Earnings yield	8.6%	Net income / market cap (the inverse of P/E).
Dividend yield	3.1%	Dividends paid over the period / market cap.
Shareholder yield	3.9%	(Dividends paid + share buybacks) / market cap.

What was ESCALADE INC's revenue in fiscal 2025?

ESCALADE INC reported revenue of $240.2M for fiscal 2025, 4.5% lower than the year before.

Was ESCALADE INC profitable in fiscal 2025?

Yes. Net income was $13.7M, a net margin of 5.7%.

How much free cash flow did ESCALADE INC generate in fiscal 2025?

Cash from operations of $31.0M minus capital expenditures of $2.5M left free cash flow of $28.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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