NASDAQ : MAMO
Massimo Group — Financial statements
Consumer Discretionary · Recreational Vehicles · United States
Last price 0.9792 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 40.77M
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Financial statements
Massimo Group (MAMO) reported revenue of 65.64M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 65.64M | 71.83M | 109.33M | 115.04M | 86.53M | 82.57M |
| Cost of Revenue | 37.43M | 44.88M | 76.87M | 79.13M | 64.32M | 65.53M |
| Gross Profit | 28.22M | 26.95M | 32.46M | 35.91M | 22.20M | 17.04M |
| Selling, General & Admin | 21.03M | 22.88M | 26.29M | 22.99M | 17.60M | 12.67M |
| Research & Development | 2.02M | 2.09M | 343.49K | |||
| Operating Expenses | 23.05M | 24.97M | 26.64M | 22.99M | 17.60M | 12.67M |
| Operating Income | 5.17M | 1.98M | 5.82M | 12.92M | 4.61M | 4.37M |
| Interest Expense | -45.35K | -98.67K | -518.73K | -828.02K | -454.07K | |
| Other Non Operating Income (Expenses) | -63.11K | 94.82K | 238.06K | 40.87K | 184.62K | 85.36K |
| EBT Excluding Unusual Items | 5.11M | 2.03M | 5.96M | 12.45M | 3.96M | 4.00M |
| Legal Settlements | -3.65M | |||||
| Other Unusual Items | 100.00K | 714.61K | ||||
| Pretax Income | 5.11M | 2.03M | 2.42M | 12.55M | 4.16M | 4.72M |
| Income Tax Expense | 1.14M | 520.10K | 654.76K | 2.13M | ||
| Net Income | 3.97M | 1.51M | 1.76M | 10.42M | 4.16M | 4.72M |
| Net Income to Common | 3.97M | 1.51M | 1.76M | 10.42M | 4.16M | 4.72M |
| Shares Outstanding (Basic) | 41.64M | 41.60M | 41.01M | 40.00M | 40.00M | 40.00M |
| Shares Outstanding (Diluted) | 41.68M | 41.64M | 41.16M | 40.00M | 40.00M | 40.00M |
| EPS (Basic) | 0.10 | 0.04 | 0.04 | 0.26 | 0.10 | 0.12 |
| EPS (Diluted) | 0.10 | 0.04 | 0.04 | 0.26 | 0.10 | 0.12 |
| Free Cash Flow | 3.83M | -163.64K | 6.28M | 10.77M | 423.49K | -1.54M |
| Free Cash Flow Per Share | 0.09 | -0.00 | 0.15 | 0.27 | 0.01 | -0.04 |
| Gross Margin | 42.98% | 37.52% | 29.69% | 31.22% | 25.66% | 20.64% |
| Operating Margin | 7.87% | 2.76% | 5.33% | 11.23% | 5.32% | 5.30% |
| Profit Margin | 6.04% | 2.10% | 1.61% | 9.05% | 4.81% | 5.71% |
| Free Cash Flow Margin | 5.83% | -0.23% | 5.75% | 9.36% | 0.49% | -1.86% |
| EBITDA | 5.39M | 2.17M | 5.99M | 13.12M | 4.79M | 4.55M |
| EBITDA Margin | 8.21% | 3.02% | 5.48% | 11.40% | 5.54% | 5.51% |
| D&A For EBITDA | 220.20K | 185.73K | 171.35K | 193.62K | 185.87K | 175.40K |
| EBIT | 5.17M | 1.98M | 5.82M | 12.92M | 4.61M | 4.37M |
| EBIT Margin | 7.87% | 2.76% | 5.33% | 11.23% | 5.32% | 5.30% |
| Effective Tax Rate | 22.39% | 25.63% | 27.09% | 16.98% | ||
| Advertising Expenses | 671.79K | 569.76K | 768.67K | 1.81M | 772.44K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.64M | 5.79M | 10.21M | 765.81K | 947.97K | 1.29M |
| Cash & Short-Term Investments | 4.64M | 5.79M | 10.21M | 765.81K | 947.97K | 1.29M |
| Accounts Receivable | 4.98M | 5.33M | 4.83M | 9.57M | 6.83M | 7.83M |
| Other Receivables | 2.47M | 267.13K | 132.62K | 39.03K | 71.14K | |
| Receivables | 7.45M | 5.59M | 4.96M | 9.61M | 6.90M | 7.83M |
| Inventory | 23.64M | 26.01M | 27.26M | 25.80M | 23.76M | 22.32M |
| Prepaid Expenses | 1.33M | 2.26M | 1.10M | 598.48K | ||
| Other Current Assets | 193.38K | 193.40K | 99.08K | 1.59M | 2.98M | 2.40M |
| Total Current Assets | 37.26M | 39.85M | 43.62M | 38.36M | 34.59M | 33.83M |
| Property, Plant & Equipment | 7.34M | 7.87M | 10.09M | 1.99M | 1.85M | 2.28M |
| Long-Term Deferred Tax Assets | 3.29M | 3.09M | 1.13M | 134.60K | ||
| Long-Term Deferred Charges | 1.46M | 421.79K | ||||
| Other Long-Term Assets | 434.80K | 622.83K | 49.50K | |||
| Total Assets | 48.72M | 51.43M | 54.89M | 41.94M | 36.86M | 36.11M |
| Accounts Payable | 5.37M | 7.73M | 9.57M | 10.33M | 11.11M | 12.26M |
| Accrued Expenses | 160.42K | 166.44K | 13.20K | 324.09K | 254.68K | |
| Short-Term Debt | 2.00M | 2.00M | 5.55M | 303.58K | 16.73M | 5.48M |
| Current Portion of Leases | 1.88M | 1.98M | 2.16M | 889.01K | 778.28K | 714.43K |
| Current Income Taxes Payable | 3.85M | 3.54M | 1.07M | 2.12M | ||
| Current Unearned Revenue | 760.93K | 609.17K | 450.00K | 1.84M | 696.27K | 1.33M |
| Other Current Liabilities | 6.28M | 6.24M | 6.77M | 3.33M | 1.50M | 1.95M |
| Total Current Liabilities | 20.14M | 22.25M | 25.74M | 18.83M | 31.13M | 22.00M |
| Long-Term Debt | 7.92M | |||||
| Long-Term Leases | 4.51M | 5.47M | 7.45M | 707.88K | 659.64K | 1.21M |
| Total Liabilities | 24.65M | 27.72M | 33.19M | 27.46M | 31.79M | 23.20M |
| Common Stock | 41.64K | 41.64K | 41.54K | 40.00K | 40.00K | 40.00K |
| Additional Paid-In Capital | 7.03M | 7.11M | 6.61M | 1.99M | 1.99M | 1.99M |
| Retained Earnings | 17.00M | 16.56M | 15.05M | 13.29M | 5.07M | 12.91M |
| Comprehensive Income & Other | -832.16K | -2.03M | -2.03M | |||
| Shareholders' Equity | 24.07M | 23.71M | 21.70M | 14.49M | 5.07M | 12.91M |
| Total Liabilities & Equity | 48.72M | 51.43M | 54.89M | 41.94M | 36.86M | 36.11M |
| Total Debt | 8.39M | 9.45M | 15.16M | 9.82M | 18.16M | 7.40M |
| Net Cash (Debt) | -3.75M | -3.66M | -4.95M | -9.05M | -17.22M | -6.12M |
| Net Cash Per Share | -0.09 | -0.09 | -0.12 | -0.23 | -0.43 | -0.15 |
| Filing Date Shares Outstanding | 41.64M | 41.64M | 41.55M | 41.30M | 40.00M | 40.00M |
| Total Common Shares Outstanding | 41.64M | 41.64M | 41.54M | 40.00M | 40.00M | 40.00M |
| Working Capital | 17.11M | 17.59M | 17.88M | 19.53M | 3.46M | 11.83M |
| Book Value Per Share | 0.58 | 0.57 | 0.52 | 0.36 | 0.13 | 0.32 |
| Tangible Book Value | 23.67M | 23.71M | 21.70M | 14.49M | 5.07M | 12.91M |
| Tangible Book Value Per Share | 0.57 | 0.57 | 0.52 | 0.36 | 0.13 | 0.32 |
| Machinery | 1.26M | 1.06M | 995.82K | 921.49K | 867.12K | 708.37K |
| Leasehold Improvements | 90.97K | 90.97K | 90.97K | 90.97K | 54.05K | 15.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.97M | 1.51M | 1.76M | 10.42M | 4.16M | 4.72M |
| Depreciation & Amortization | 2.33M | 2.30M | 1.75M | 1.17M | 884.25K | 737.25K |
| Loss (Gain) From Sale of Assets | 24.35K | -36.00K | -15.78K | |||
| Stock-Based Compensation | -48.32K | 498.94K | 1.20M | |||
| Provision & Write-off of Bad Debts | 211.90K | 109.68K | -173.17K | 801.74K | -93.62K | -76.19K |
| Other Operating Activities | -1.36M | -1.88M | 3.46M | 305.30K | 4.01K | 4.56K |
| Change in Accounts Receivable | 2.94M | -610.08K | 4.91M | -3.54M | 1.09M | -3.36M |
| Change in Inventory | -82.40K | 1.16M | -770.26K | -1.09M | -2.08M | -381.90K |
| Change in Accounts Payable | -875.43K | -1.85M | -761.76K | 1.36M | -1.15M | -2.28M |
| Change in Unearned Revenue | -94.34K | 159.17K | -1.39M | 1.14M | -637.21K | 303.15K |
| Change in Income Taxes | 2.77M | 2.47M | -1.05M | 2.12M | ||
| Change in Other Net Operating Assets | -5.21M | -3.96M | -2.23M | -1.76M | -1.56M | -962.11K |
| Operating Cash Flow | 4.56M | -98.28K | 6.67M | 10.91M | 621.29K | -1.30M |
| Capital Expenditures | -734.20K | -65.36K | -387.88K | -134.66K | -197.80K | -240.47K |
| Sale of Property, Plant & Equipment | 10.00K | 162.00K | 13.50K | |||
| Other Investing Activities | -665.67K | -665.67K | ||||
| Investing Cash Flow | -1.79M | -731.03K | -225.88K | -121.16K | -197.80K | -240.47K |
| Short-Term Debt Issued | 3.45M | 5.10M | 5.00M | |||
| Total Debt Issued | 3.45M | 5.10M | 5.00M | |||
| Short-Term Debt Repaid | -3.55M | -2.68M | -14.16M | -6.00M | -2.43M | |
| Long-Term Debt Repaid | -46.33K | -41.65K | -40.00K | -42.50K | -55.97K | |
| Total Debt Repaid | -573.59K | -3.59M | -2.72M | -14.20M | -6.04M | -2.48M |
| Net Debt Issued (Repaid) | -573.59K | -3.59M | -2.72M | -10.74M | -942.59K | 2.52M |
| Issuance of Common Stock | 5.96M | 601.84K | 600.00K | |||
| Other Financing Activities | -246.89K | -825.33K | -421.79K | |||
| Financing Cash Flow | -573.59K | -3.59M | 3.00M | -10.97M | -764.37K | 2.52M |
| Net Cash Flow | 2.20M | -4.42M | 9.44M | -182.16K | -340.88K | 981.73K |
| Free Cash Flow | 3.83M | -163.64K | 6.28M | 10.77M | 423.49K | -1.54M |
| Free Cash Flow Margin | 5.83% | -0.23% | 5.75% | 9.36% | 0.49% | -1.86% |
| Free Cash Flow Per Share | 0.09 | -0.00 | 0.15 | 0.27 | 0.01 | -0.04 |
| Levered Free Cash Flow | 6.15M | 3.54M | 10.71M | 8.84M | -225.57K | |
| Unlevered Free Cash Flow | 6.15M | 3.57M | 10.77M | 9.17M | 291.94K | |
| Cash Interest Paid | 45.35K | 98.67K | 518.73K | 805.23K | 439.07K | |
| Cash Income Tax Paid | 16.47K | 16.47K | 2.70M | 143.32K | ||
| Change in Working Capital | -556.97K | -2.63M | -1.28M | -1.77M | -4.33M | -6.68M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 39.68M | 165.73M | 106.36M | |||
| Enterprise Value | 43.43M | 173.26M | 121.40M | |||
| Last Close Price | 0.95 | 3.98 | 2.57 | |||
| PE Ratio | 10.01 | 109.80 | 60.37 | |||
| PS Ratio | 0.60 | 2.31 | 0.97 | |||
| PB Ratio | 1.65 | 6.99 | 4.90 | |||
| P/TBV Ratio | 1.68 | 6.99 | 4.90 | |||
| P/FCF Ratio | 10.36 | 16.92 | ||||
| P/OCF Ratio | 8.69 | 15.94 | ||||
| EV/Sales Ratio | 0.66 | 2.41 | 1.11 | |||
| EV/EBITDA Ratio | 8.06 | 80.00 | 20.25 | |||
| EV/EBIT Ratio | 8.41 | 87.51 | 20.85 | |||
| EV/FCF Ratio | 11.34 | 19.32 | ||||
| Debt / Equity Ratio | 0.35 | 0.40 | 0.70 | 0.68 | 3.58 | 0.57 |
| Debt / EBITDA Ratio | 0.98 | 1.73 | 1.81 | 0.69 | 3.26 | 1.44 |
| Debt / FCF Ratio | 2.19 | 2.41 | 0.91 | 42.89 | ||
| Net Debt / Equity Ratio | 0.16 | 0.15 | 0.23 | 0.62 | 3.40 | 0.47 |
| Net Debt / EBITDA Ratio | 0.70 | 1.69 | 0.82 | 0.69 | 3.59 | 1.34 |
| Net Debt / FCF Ratio | 0.98 | -22.36 | 0.79 | 0.84 | 40.65 | -3.98 |
| Asset Turnover | 1.39 | 1.35 | 2.26 | 2.92 | 2.37 | |
| Inventory Turnover | 1.59 | 1.69 | 2.90 | 3.19 | 2.79 | |
| Quick Ratio | 0.60 | 0.51 | 0.59 | 0.55 | 0.25 | 0.41 |
| Current Ratio | 1.85 | 1.79 | 1.70 | 2.04 | 1.11 | 1.54 |
| Return on Equity (ROE) | 17.93% | 6.65% | 9.74% | 106.50% | 46.29% | |
| Return on Assets (ROA) | 6.82% | 2.33% | 7.52% | 20.50% | 7.89% | |
| Return on Invested Capital (ROIC) | 14.52% | 5.45% | 16.91% | 46.82% | 22.29% | 22.98% |
| Return on Capital Employed (ROCE) | 18.10% | 6.80% | 20.00% | 55.90% | 80.40% | 31.00% |
| Earnings Yield | 9.99% | 0.91% | 1.66% | |||
| FCF Yield | 9.65% | -0.10% | 5.91% | |||
| Buyback Yield / Dilution | -0.48% | -1.16% | -2.90% |