Escalade, Incorporated
ESCA Consumer Cyclical Leisure
Escalade, Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $240.2 million, down 4.51% from fiscal 2024. In the quarter to June 2026, revenue grew 6.20%, EPS grew 423.1%, free cash flow fell 36.0% and total debt fell 32.4%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Escalade, Incorporated (ESCA) Altman Z-score
Escalade, Incorporated's Altman Z-score for fiscal 2025 is 5.25, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 5.25 | 0.23 |
| FY2024 | 5.02 | 0.45 |
| FY2023 | 4.57 | 1.30 |
| FY2022 | 3.26 | (0.96) |
| FY2021 | 4.23 | (1.04) |
| FY2020 | 5.26 | (1.52) |
| FY2019 | 6.79 | (1.00) |
| FY2018 | 7.79 | 2.60 |
| FY2017 | 5.19 | 0.12 |
| FY2016 | 5.07 | 0.01 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.45 | — | 0.54 | |
| Retained earnings / total assets | 0.77 | — | 1.07 | |
| EBIT / total assets | 0.08 | — | 0.28 | |
| Market value of equity / total liabilities | 3.79 | — | 2.28 | |
| Sales / total assets | 1.08 | — | 1.08 | |
| Altman Z-score | Safe zone | 5.25 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 9.74 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| TRON Tron Inc. compare | 68.3× |
| ESCA Escalade, Incorporated | 5.2× |
| JOUT Johnson Outdoors Inc. compare | 3.6× |
| JAKK JAKKS Pacific, Inc. compare | 2.2× |
| AOUT American Outdoor Brands, Inc. compare | 2.1× |
| FNKO Funko, Inc. compare | 1.0× |
| CLAR Clarus Corporation compare | −0.3× |
| XPOF Xponential Fitness, Inc. compare | −1.7× |
| PLBY PLBY Group, Inc. compare | −2.6× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets