olivLaw · US equity research
Escalade, Incorporated ESCA
Sporting & Athletic Goods, NEC · SIC 3949 · Vertical: Sporting & Athletic Goods, NEC (SIC 3949)
Escalade designs and sells sporting goods and recreation equipment under brands such as Goalrilla, Bear Archery and STIGA, and extended its portfolio with the Gold Tip acquisition in September 2025. In the second quarter of 2026 net sales rose 6.2% to 57.7 million USD, but part of the profit came from a one-time tariff recovery, which makes the underlying operating base important to track.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 05 Nov 2026, Escalade, Incorporated (ESCA) stock was 20.39 USD (−3.50% on the day), with market capitalisation 280.5 m USD, P/E 11.7 on diluted EPS of 1.75 USD over the last 12 months, dividend yield 2.97%, beta 0.82, 52-week range 11.54–22.60 USD. Latest reported quarter (Q3 2026): revenue of 65.6 m USD (−3.2% YoY), net income of 6.7 m USD (+21.2% YoY), diluted EPS 0.48 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 58.1
- strong (55–70)
- Bollinger (20, 2)
- 17.32 – 20.96
- in the upper half of the band · %B 0.84 · band width 19.0%
- SMA 50 / 200
- 19.41 / 18.27
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.36 / 0.09
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +9.3% | −1.1% | +10.4 pp | — |
| 3 months | −8.3% | −0.5% | −7.9 pp | — |
| 6 months | +3.0% | +4.4% | −1.4 pp | — |
| Year to date | +51.1% | +12.3% | +38.8 pp | — |
| 1 year | +70.3% | +13.5% | +56.8 pp | −0.6% |
| 3 years | +11.7% | +76.4% | −64.7 pp | −9.6% |
| 5 years | +1.2% | +63.7% | −62.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 63.9 m | 55.5 m | 54.3 m | 67.8 m | 62.6 m | 55.8 m | 57.7 m | 65.6 m |
| Cost of revenue | 48.0 m | 40.7 m | 40.9 m | 48.7 m | 45.2 m | 38.6 m | 42.6 m | 46.4 m |
| SG&A | 10.9 m | 10.6 m | 10.2 m | 11.2 m | 11.6 m | 10.7 m | 12.5 m | 11.6 m |
| Operating income | 4.5 m | 3.7 m | 2.6 m | 7.3 m | 5.2 m | 5.8 m | 11.9 m | 8.7 m |
| Depreciation & amortisation | 1.4 m | 1.2 m | 1.3 m | 1.3 m | 1.3 m | 1.2 m | 1.3 m ≈ | 1.3 m ≈ |
| Interest expense | 307.0 k | 244.0 k | 213.0 k | 204.0 k | 175.0 k | 188.0 k | 176.0 k | 165.0 k |
| Pre-tax income | 4.3 m | 3.4 m | 2.5 m | 7.1 m | 5.0 m | 5.7 m | 12.2 m | 8.7 m |
| Income tax | 1.6 m | 820.0 k | 634.0 k | 1.6 m | 1.3 m | 1.4 m | 2.8 m | 2.0 m |
| Net income | 2.7 m | 2.6 m | 1.8 m | 5.6 m | 3.7 m | 4.4 m | 9.4 m | 6.7 m |
| Diluted EPS | 0.19 ≈ | 0.19 | 0.13 | 0.40 | 0.27 ≈ | 0.32 | 0.68 | 0.48 |
| Operating cash flow | 12.3 m | 3.8 m | 13.3 m ≈ | -965.0 k ≈ | 14.9 m | 6.1 m | 8.7 m ≈ | 14.9 m ≈ |
| Capex | 556.0 k | 543.0 k | 433.0 k ≈ | 291.0 k ≈ | 1.2 m | 848.0 k | 442.0 k ≈ | 955.0 k ≈ |
| Dividends paid | 2.1 m | 2.1 m | 2.1 m ≈ | 2.1 m ≈ | 2.1 m | 2.1 m | 2.1 m ≈ | 2.1 m ≈ |
| Share repurchases | 2.2 m | 1.4 m | 790.0 k ≈ | 0 ≈ | 927.0 k | 281.0 k | 1.0 m ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 40 percentile of its own 40-quarter history (min 6.7, median 13.7, max 28.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 175.8 m | 180.5 m | 273.6 m | 313.6 m | 313.8 m | 263.6 m | 251.5 m | 240.2 m |
| Revenue YoY | −0.9% | +2.7% | +51.6% | +14.6% | +0.0% | −16.0% | −4.6% | −4.5% |
| Net income | 20.4 m | 7.3 m | 25.9 m | 24.4 m | 18.0 m | 9.8 m | 13.0 m | 13.7 m |
| Net income YoY | +45.4% | −64.5% | +257.3% | −5.9% | −26.3% | −45.4% | +32.1% | +5.5% |
| Diluted EPS | 1.41 | 0.50 | 1.82 | 1.76 | 1.31 | 0.71 | 0.93 | 0.99 |
| Diluted EPS YoY | +43.9% | −64.5% | +264.0% | −3.3% | −25.6% | −45.8% | +31.0% | +6.5% |
| net % | 11.6% | 4.0% | 9.5% | 7.8% | 5.7% | 3.7% | 5.2% | 5.7% |
| Free cash flow | 3.7 m | 13.9 m | -2.8 m | -8.6 m | 6.5 m | 46.2 m | 34.0 m | 28.5 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 11.9 m USD
- Financial debt
- 18.5 m USD
- Net debt
- 6.6 m USD
- Equity
- 173.2 m USD
- Total assets
- 222.1 m USD
- Debt / equity
- 0.11x
- Current ratio
- 4.28x
- ROE
- 8.0%
- ROA
- 6.1%
- FCF margin
- 11.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 273.6 m | 313.6 m | 313.8 m | 263.6 m | 251.5 m | 240.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Cost of revenue | 198.8 m | 236.5 m | 240.1 m | 201.8 m | 189.3 m | 175.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Gross profit | 74.8 m ≈ | 77.1 m ≈ | 73.6 m ≈ | 61.8 m ≈ | 62.2 m ≈ | 64.6 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Research & development | 1.5 m | 2.0 m | 2.7 m | 3.1 m | 3.2 m | 3.2 m | SEC (XBRL)· 27 Feb 2026verified |
| SG&A | 40.3 m | 43.4 m | 44.8 m | 41.5 m | 43.3 m | 43.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Operating income | 33.0 m | 31.9 m | 26.3 m | 17.8 m | 20.0 m | 18.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Depreciation & amortisation | 4.0 m | 4.8 m | 6.1 m | 5.7 m | 6.0 m | 5.1 m | SEC (XBRL)· 27 Feb 2026verified |
| EBITDA | 37.0 m ≈ | 36.7 m ≈ | 32.4 m ≈ | 23.5 m ≈ | 26.0 m ≈ | 23.8 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Interest expense | 250.0 k | 1.5 m | 3.8 m | 5.3 m | 2.3 m | 836.0 k | SEC (XBRL)· 27 Feb 2026verified |
| Pre-tax income | 32.9 m | 30.5 m | 22.6 m | 12.5 m | 17.8 m | 18.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | 7.0 m | 6.1 m | 4.6 m | 2.7 m | 4.8 m | 4.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 25.9 m | 24.4 m | 18.0 m | 9.8 m | 13.0 m | 13.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 1.82 | 1.76 | 1.31 | 0.71 | 0.93 | 0.99 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | 14.2 m | 13.9 m | 13.7 m | 13.9 m | 14.0 m | 13.9 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 3.5 m | 4.4 m | 4.0 m | 16.0 k | 4.2 m | 11.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Receivables | 65.3 m | 66.0 m | 57.4 m | 50.0 m | 48.8 m | 46.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Inventories | 72.5 m | 92.4 m | 121.9 m | 92.5 m | 76.0 m | 68.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Current assets | 145.4 m | 171.1 m | 188.2 m | 146.8 m | 133.8 m | 130.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 18.2 m | 24.9 m | 24.8 m | 23.8 m | 22.2 m | 22.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Goodwill | 32.7 m | 32.7 m | 42.3 m | 42.3 m | 42.3 m | 42.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Intangibles (excl. goodwill) | 22.6 m | 20.8 m | 31.1 m | 28.6 m | 25.8 m | 25.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 220.7 m | 251.8 m | 298.7 m | 253.0 m | 226.3 m | 222.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Short-term debt | 0 | 7.1 m | 7.1 m | 7.1 m | 7.1 m | 7.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Long-term debt | 30.1 m | 50.4 m | 87.7 m | 43.8 m | 18.5 m | 11.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Current liabilities | 46.1 m | 48.2 m | 38.9 m | 33.3 m | 34.5 m | 30.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Total liabilities | 81.5 m | 105.2 m | 140.2 m | 88.4 m | 57.3 m | 48.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 139.2 m † | 146.6 m † | 158.5 m † | 164.6 m † | 169.0 m † | 173.2 m † | SEC (XBRL)· 27 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 2.6 m | 1.1 m | 8.6 m | 48.3 m | 36.0 m | 31.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Capex | 5.5 m | 9.7 m | 2.1 m | 2.1 m | 2.0 m | 2.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Free cash flow | -2.8 m ≈ | -8.6 m ≈ | 6.5 m ≈ | 46.2 m ≈ | 34.0 m ≈ | 28.5 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Investing cash flow | -21.0 m | -9.7 m | -37.8 m | -1.9 m | 3.9 m | -4.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | 16.0 m | 9.4 m | 28.8 m | -50.3 m | -35.8 m | -18.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Dividends paid | 7.5 m | 7.7 m | 8.2 m | 6.2 m | 8.3 m | 8.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | 6.7 m | 10.4 m | 0 | 0 | 2.2 m | 3.1 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 67 / 100
A scoring methodology on indicators and valuation, not investment advice.
score >= 65 · margin_of_safety >= 0.15 · agreement in ['high', 'medium']
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 280.5 m USD
Key indicators
Coverage and freshness
Score by group
- Growth0
- Returns72
- Balance sheet80
- Valuation83
- Quality82
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 29.38 – 55.12 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)33.59 – 50.96 (Mid 40.32)WACC 9.1% · starting FCFF 41.7 m USD · terminal value share of EV 72%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDA29.38 – 34.53 (Mid 32.50)3 companies used · median multiple 11.9x · quartiles 10.7x – 12.6xCALY, GOLF, YETI
- Peers: P/E37.68 – 55.12 (Mid 39.59)3 companies used · median multiple 22.7x · quartiles 21.6x – 31.5xGOLF, PTON, YETI
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Attractive profile · Score 67/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 13.2% | 60 (vs peers) | 10% |
| Net margin · Quality | 10.0% | 100 (vs peers) | 6% |
| FCF conversion · Quality | 169.7% | 100 (on a fixed band) | 6% |
| Revenue CAGR 3Y · Growth | -8.5% | 0 (on a fixed band) | 8% |
| EPS CAGR 3Y · Growth | -8.9% | 0 (on a fixed band) | 8% |
| Net debt / EBITDA · Balance sheet | -0.3x | 60 (vs peers) | 10% |
| Interest coverage · Balance sheet | 44.9x | 100 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 3.0x | 100 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 11.7x | 83 (on a fixed band) | 10% |
| EV/EBITDA · Valuation | 7.3x | 70 (on a fixed band) | 10% |
| FCF yield · Valuation | 14.7% | 100 (on a fixed band) | 8% |
| Shareholder yield (distributions) · Returns | 3.8% | 54 (on a fixed band) | 6% |
| Payout ratio (FCF) · Returns | 20.2% | 100 (on a fixed band) | 4% |
Score groups
- Balance sheet80/100 · 3/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality82/100 · 3/3 factors with a value
- Returns72/100 · 2/2 factors with a value
- Valuation83/100 · 3/3 factors with a value
Memo
ESCALADE, INCORPORATED (ESCA). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 240.2 m USD in 2025; YoY growth -4.5%; net margin 10.0%; ROE 13.5%; net debt/EBITDA -0.3x.
The estimated value range is 33.59–50.96 USD per share (median of 3 methods, agreement: high); assumptions are illustrative. Against the central value of 39.59 USD, the price of 20.39 USD leaves a potential of 94.2% (value / price − 1) and a margin of safety of 48.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 67/100, methodological classification: attractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 10.0%
- FCF conversion: 169.7%
- Interest coverage: 44.9x
- Current ratio: 3.0x
- P/E (TTM): 11.7x
- FCF yield: 14.7%
- Payout ratio (FCF): 20.2%
- The price is below the estimated value range
What contradicts it
- Revenue CAGR 3Y: -8.5%
- EPS CAGR 3Y: -8.9%
Versus the vertical median
Sporting & Athletic Goods, NEC (SIC 3949) · same industry (4-digit SIC) · compared with 11 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| GOLFAcushnet Holdings Corp. | 4.8 bn | 22.7 | 25.7% | 8.2% | +4.1% | −1% / +48% |
| YETIYETI Holdings, Inc. | 3.4 bn | 20.5 | 25.3% | 9.2% | unavailable | +13% / +10% |
| CALYCallaway Golf Company | 2.8 bn | — | -11.3% | -12.4% | −0.8% | +24% / +30% |
| ESCAEscalade, Incorporated | 280.5 m | 11.7 | 13.5% | 10.0% | −4.5% | +70% / +12% |
| AOUTAmerican Outdoor Brands, Inc. | 217.7 m | — | -2.4% | -2.0% | −14.3% | +141% / +101% |
| CLARClarus Corporation | 162.7 m | — | -14.9% | -12.4% | −5.2% | +19% / −25% |
| KBSXFST Corp. | 61.3 m | — | -7.8% | -3.1% | +31.4% | −3% / −88% |
| GMEXGmex Robotics Corporation | 9.4 m | — | -91.5% | -308.0% | +7.9% | −100% / −100% |
| NWTGNewton Golf Company, Inc. | 4.1 m | — | -2,023.2% | -124.4% | +136.1% | −55% / −100% |
| TRUGTrugolf Holdings, Inc. | 528.4 k | — | -349.3% | -55.7% | −13.6% | −100% / −100% |
| PTONPeloton Interactive, Inc. | — | 40.4 | — | 2.6% | −1.8% | −17% / 0% |
| JOUTJohnson Outdoors Inc. | — | — | -1.8% | -1.2% | −0.1% | +16% / −10% |
1- and 3-year price returns: for ESCA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 10.99 Total return -46% · Per year -46% | 19.54 Total return -4% · Per year -4% | 29.56 Total return 45% · Per year 45% |
| 3 years | 8.73 Total return -57% · Per year -25% | 17.63 Total return -14% · Per year -5% | 29.56 Total return 45% · Per year 13% |
| 5 years | 6.93 Total return -66% · Per year -19% | 15.91 Total return -22% · Per year -5% | 29.56 Total return 45% · Per year 8% |
- Exit P/E± 4.41
- Net margin± 3.09
- Annual revenue growth± 2.79
- Annual dilution± 0.26
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).
In brief
Escalade designs and sells sporting goods and recreation equipment under brands such as Goalrilla, Bear Archery and STIGA, and extended its portfolio with the Gold Tip acquisition in September 2025. In the second quarter of 2026 net sales rose 6.2% to 57.7 million USD, but part of the profit came from a one-time tariff recovery, which makes the underlying operating base important to track.
SWOT
Strengths
- A broad portfolio of recognized brands across several niche categories, with leadership positions claimed in table tennis and residential basketball goals 1.
- Long experience in manufacturing and importing, which supports a competitive cost model and relatively quick launches of new products 1.
- A balance sheet that strengthened in 2026, with lower debt and available credit, giving flexibility in difficult periods 3.
Weaknesses
- Dependence on a few large customers makes revenues sensitive to their purchasing decisions 1.
- The second quarter 2026 result was lifted by a one-time tariff recovery, which makes reported profit harder to compare with earlier periods 3.
- Sales declined in 2025, and excess inventory hurt results in the past, although inventory has since been reduced 1.
Opportunities
- Brand acquisitions in categories with barriers to entry could widen the portfolio and add growth, in line with the stated strategy 13.
- Developing the company's own direct-to-consumer e-commerce channel could improve margins and customer relationships 1.
- Archery, safety and table tennis categories showed recent growth and could keep supporting sales if demand holds 3.
Risks
- Customer concentrationhigh
Losing or reducing orders from a major customer could significantly affect revenues and financial condition, and the company needs to broaden its customer base 1.
- Tariffs and supply chainhigh
Tariffs, shipping delays and supply chain disruptions could raise costs and interrupt deliveries 12.
- Executive leadership transitionmedium
The move to a new chief executive could cause operational disruption and divert management attention from other priorities 1.
- Acquisition integrationmedium
Recent and future acquisitions could bring integration difficulties, additional debt or goodwill impairment 1.
- Credit refinancinglow
The revolving facility and the term loan maturing in January 2027 could become a concern if cash generation weakens 13.
Investment thesis
What would need to be true (bull case)
- If margins stay above historical levels and growth in archery and safety continues, results could show a shift toward steadier profitability.
- A less indebted balance sheet and available credit could allow strategic acquisitions without major pressure on liquidity.
- If the direct-to-consumer e-commerce channel grows, the company could capture more margin and depend less on large retailers.
What would break the thesis
- Second quarter profit may rest largely on a one-time recovery, and without it the operating result could look much more modest.
- Dependence on a few large customers could mean that any reduction in orders quickly shows up in quarterly revenues.
- If tariffs and freight costs rise more than expected, margins could fall back to lower levels.
What to watch
- Gross margin trend after tariff and freight cost effectsQ3 2026
- Sales growth excluding tariff recovery contributions2026
- Renewal or refinancing of the revolving facility and the term loanQ1 2027
- Any new brand acquisitions and their integrationnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 8-K (29 Oct 2026 · results), 10-Q (29 Oct 2026).
The business
Escalade, Incorporated operates in one segment, Sporting Goods (Escalade Sports), headquartered in Evansville, Indiana, with more than 95 years of manufacturing and selling experience 1. The company makes, imports and distributes brands in basketball goals, archery, table tennis, pickleball, fitness, billiards, darts and outdoor games through major retailers, specialty dealers, online retailers and direct-to-consumer channels 1. Its strategy rests on product innovation, strong brands and strategic acquisitions, with Gold Tip and AllCornhole added in 2025 1.
Customer concentration is a central feature of the model: one customer accounted for approximately 19% of revenues in 2025, and another for approximately 11% 1. The company manufactures some products in the USA and imports others from South America and Asia through several contract manufacturers 1.
On the liquidity side, Escalade ended the second quarter of 2026 with 16.4 million USD in cash and equivalents, and availability of 56.7 million USD on its senior secured revolving credit facility 3. The company also announced a quarterly dividend of 0.1525 USD per share 3.
Segments
Sporting Goods (Escalade Sports)
The only reported segment, with net sales of 240,158 thousand USD in 2025, down 4.5% from 2024 1. Categories include basketball, archery, billiards, outdoor games, fitness and water sports, and in the second quarter of 2026 growth came from archery, safety, table tennis and basketball 3.
Recreation and game accessories
This category includes billiards, darts, pickleball and cornhole brands, some recently acquired, such as AllCornhole in December 2025 1. The aim is to expand into categories with barriers to entry, which could support growth if demand holds steady.
Market context
The sporting goods market is described as fragmented and intensely competitive, with many categories growing slowly and larger competitors having substantially greater financial resources 1. Demand can shift quickly, and online channels are gaining importance alongside traditional retail 1.
The macroeconomic backdrop remains a key variable: management points to inflation, energy costs, interest rates and weaker consumer confidence as factors that could affect demand 2. High uncertainty could limit growth in discretionary categories.
Trends
- Tariffs and tariff recoveriesmixed
New US tariffs could raise import costs, yet the company has recognized recoveries of earlier tariffs, which strongly influenced the second quarter 2026 result 23.
- Archery category growthtailwind
The Gold Tip acquisition and new product launches supported archery sales, pointing to a direction of growth in the category with the strongest recent traction 3.
- Freight and material costsheadwind
The company expects higher costs from freight rates, commodity inflation and new tariffs, which could compress margins if not offset 3.
- Margin recovery and deleveragingtailwind
Gross margin rose in 2025 and in the second quarter of 2026 while debt declined, which could give flexibility for acquisitions and investment 13.
Competitive position
The company states that no single competitor offers the same range of products, but competition exists across nearly every product line 1. Competitors may be regional, national or international, and some have far greater resources for promotion and pricing 1.
Escalade's stated advantages are its relationships with major customers, its manufacturing and import experience, and its ability to launch new products at controlled cost 1. Dependence on a few large customers, however, means losing one could significantly affect revenues 1.
- US and foreign sporting goods and recreation manufacturers
The company describes larger competitors with greater financial resources that may discount prices more heavily 1. The sources do not name them.
- Major sporting goods retailers and mass merchants
These players compete for shelf space and online visibility, which shapes the company's negotiating position 1.
- Online retail platforms
E-commerce is both a channel and a competitor, which the company is trying to build through its own direct-to-consumer channel 1.
- Game table and equipment manufacturers
The sources do not detail these competitors, but the company acknowledges competition in billiards, darts and outdoor games 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- La nouvelle escalade à Hébron en Cisjordanie pourrait - elle avoir un impact sur le vote israélien ?Surge — GDELT DOC · 24 Oct 2026 · RO
- Trei alpiniști letoni au murit în timpul unei escalade pe Muntele McKinley din AlaskaAgerpres · 30 May 2026 · RO
The latest news item in our archive is from 24 Oct 2026; the newest SEC filing is from 29 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report29 Oct 2026
- Current report29 Oct 2026Results of operations · Other events · Financial statements and exhibits
- Current report25 Aug 2026Other events · Financial statements and exhibits
- Quarterly report30 Jul 2026
- Current report30 Jul 2026Results of operations · Other events · Financial statements and exhibits
- Current report05 May 2026Shareholder vote
- Quarterly report30 Apr 2026
- Current report30 Apr 2026Results of operations · Other events · Financial statements and exhibits
- Proxy statement27 Mar 2026
- Current report06 Mar 2026Departure or appointment of officers · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Escalade, Incorporated · 27 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Escalade, Incorporated · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Escalade, Incorporated · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.