HZO · Marinemax Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.31B | $2.43B | $2.39B | $2.31B | $2.06B | $1.51B |
| Cost of Revenue | $1.56B | $1.63B | $1.56B | $1.50B | $1.40B | $1.11B |
| Gross Profit | $750.23M | $801.20M | $835.33M | $805.75M | $659.43M | $398.71M |
| R&D | - | - | - | - | - | - |
| SG&A | $647.16M | $672.97M | $634.53M | $540.55M | $449.97M | $292.00M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $49.32M | $44.49M | $41.03M | $19.42M | $15.61M | $12.77M |
| Operating Income | $34.02M | $128.23M | $200.80M | $265.20M | $209.46M | $106.72M |
| Interest Expense | $71.16M | $73.89M | $53.37M | $3.28M | $3.67M | $9.28M |
| Income Tax | ($6.38M) | $15.59M | $37.96M | $63.93M | $50.81M | $22.81M |
| Net Income | ($31.63M) | $38.07M | $109.28M | $197.99M | $154.98M | $74.63M |
| EPS - Basic | ($1.43) | $1.71 | $5.00 | $9.12 | $7.04 | $3.46 |
| EPS - Diluted | ($1.43) | $1.65 | $4.87 | $8.84 | $6.78 | $3.37 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $170.35M | $224.33M | $201.46M | $228.27M | $222.19M | $155.49M |
| Accounts Receivable | $108.29M | $106.41M | $85.78M | $50.29M | $47.65M | $40.20M |
| Inventory | $867.33M | $906.64M | $812.83M | $454.36M | $230.98M | $298.00M |
| Accounts Payable | $56.38M | $54.48M | $71.71M | $34.34M | $25.74M | $37.34M |
| Current Assets | $1.18B | $1.27B | $1.12B | $754.00M | $517.52M | $503.33M |
| Total Assets | $2.47B | $2.61B | $2.42B | $1.35B | $1.01B | $775.32M |
| Current Liabilities | $984.88M | $1.07B | $847.05M | $412.77M | $251.09M | $272.53M |
| Long-term Debt | $356.24M | $355.91M | $389.23M | $45.30M | $47.50M | $7.34M |
| Total Liabilities | $1.52B | $1.62B | $1.50B | $570.11M | $412.93M | $319.92M |
| Stockholders' Equity | $937.19M | $975.79M | $915.84M | $782.67M | $594.89M | $455.40M |
| Retained Earnings | $746.38M | $778.01M | $739.95M | $630.67M | $432.68M | $277.70M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $72.81M | ($25.66M) | ($222.24M) | $76.59M | $373.88M | $304.68M |
| Investing Cash Flow | ($55.62M) | ($81.35M) | ($576.37M) | ($140.45M) | ($161.13M) | ($30.11M) |
| Financing Cash Flow | ($71.98M) | $128.51M | $770.40M | $73.06M | ($145.74M) | ($158.13M) |
| CapEx | $60.86M | $60.42M | $65.41M | $58.46M | $26.13M | $12.81M |
| Free Cash Flow | $11.94M | ($86.08M) | ($287.64M) | $18.14M | $347.76M | $291.87M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 32.5% | 33.0% | 34.9% | 34.9% | 32.0% | 26.4% |
| Operating margin | 1.5% | 5.3% | 8.4% | 11.5% | 10.2% | 7.1% |
| EBITDA margin | 3.6% | 7.1% | 10.1% | 12.3% | 10.9% | 7.9% |
| Net margin | -1.4% | 1.6% | 4.6% | 8.6% | 7.5% | 4.9% |
| Free cash flow margin | 0.5% | -3.5% | -12.0% | 0.8% | 16.9% | 19.3% |
| FCF / Net income | -0.38 | -2.26 | -2.63 | 0.09 | 2.24 | 3.91 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 28.0% | 27.7% | 26.5% | 23.4% | 21.8% | 19.3% |
| Effective tax rate | - | 29.1% | 25.8% | 24.4% | 24.7% | 23.4% |
| Return on assets | -1.3% | 1.5% | 4.5% | 14.6% | 15.4% | 9.6% |
| Return on equity | -3.4% | 3.9% | 11.9% | 25.3% | 26.1% | 16.4% |
| Return on invested capital | 2.1% | 6.8% | 11.4% | 24.2% | 24.6% | 17.7% |
| Liquidity | ||||||
| Current ratio | 1.20 | 1.19 | 1.33 | 1.83 | 2.06 | 1.85 |
| Quick ratio | 0.32 | 0.34 | 0.37 | 0.73 | 1.14 | 0.75 |
| Cash ratio | 0.17 | 0.21 | 0.24 | 0.55 | 0.88 | 0.57 |
| Leverage | ||||||
| Debt / Equity | 0.38 | 0.36 | 0.42 | 0.06 | 0.08 | 0.02 |
| Debt / Assets | 0.14 | 0.14 | 0.16 | 0.03 | 0.05 | 0.01 |
| Debt / EBITDA | 4.27 | 2.06 | 1.61 | 0.16 | 0.21 | 0.06 |
| Interest coverage | 0.5x | 1.7x | 3.8x | 80.8x | 57.2x | 11.5x |
| Equity multiplier | 2.64 | 2.67 | 2.64 | 1.73 | 1.69 | 1.70 |
| Liabilities / Assets | 0.62 | 0.62 | 0.62 | 0.42 | 0.41 | 0.41 |
| Efficiency | ||||||
| Asset turnover | 0.93 | 0.93 | 0.99 | 1.71 | 2.05 | 1.95 |
| Inventory turnover | 1.80 | 1.80 | 1.92 | 3.31 | 6.08 | 3.73 |
| Days sales outstanding | 17d | 16d | 13d | 8d | 8d | 10d |
| Days inventory outstanding | 203d | 203d | 190d | 110d | 60d | 98d |
| Days payable outstanding | 13d | 12d | 17d | 8d | 7d | 12d |
| Cash conversion cycle | 207d | 207d | 187d | 110d | 62d | 95d |
| Valuation | ||||||
| P / E | - | 21.4x | 6.7x | 3.4x | 7.2x | 7.6x |
| P / B | 0.6x | 0.8x | 0.8x | 0.9x | 1.9x | 1.2x |
| P / S | 0.2x | 0.3x | 0.3x | 0.3x | 0.5x | 0.4x |
| EV / EBITDA | 8.9x | 5.5x | 3.8x | 1.7x | 4.2x | 3.5x |
| Growth | ||||||
| Revenue growth (YoY) | -5.0% | 1.5% | 3.8% | 11.9% | 36.7% | 22.0% |
| Revenue CAGR (3y) | 0.0% | 5.6% | 16.6% | 23.1% | 29.9% | 12.8% |
| Revenue CAGR (5y) | 8.9% | 14.5% | 20.5% | 17.0% | 17.0% | 15.0% |
| Gross profit growth (YoY) | -6.4% | -4.1% | 3.7% | 22.2% | 65.4% | 23.5% |
| Operating income growth (YoY) | -73.5% | -36.1% | -24.3% | 26.6% | 96.3% | 76.3% |
| Net income growth (YoY) | - | -65.2% | -44.8% | 27.8% | 107.7% | 107.4% |
| EPS growth (YoY) | - | -66.1% | -44.9% | 30.4% | 101.2% | 114.6% |
| EPS CAGR (3y) | - | -37.6% | 13.1% | 77.9% | 58.3% | 52.5% |
| EPS CAGR (5y) | - | 1.0% | 23.3% | 56.2% | 49.4% | 11.9% |
| FCF growth (YoY) | - | 70.1% | - | -94.8% | 19.1% | - |
| FCF CAGR (5y) | -47.2% | - | - | - | 103.6% | - |
| Book value growth (YoY) | -4.0% | 6.5% | 17.0% | 31.6% | 30.6% | 23.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-09-30.
Business segments
$2.44B totalRetail Operations$2.30B · 94.3%
Product Manufacturing$138.95M · 5.7%
Product / service
$273.08M totalMaintenance Repair Storage Rental Charter Services Parts And Accessories Revenue$273.08M · 100.0%
Geographic
$2.31B totalUS$2.17B · 93.8%
Non Us$143.73M · 6.2%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.55
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Retail-Auto & Home Supply Stores
Comparing MARINEMAX INC against the 5 most active filers in the same SIC group.