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Earnings transcript
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HZO
MarineMax, Inc.
$33.67
0.61
(1.85%)
| Exchange: | NYSE |
| Market Cap: | 741.688M |
| Shares Outstanding: | 11.025M |
Delayed data
About The Company
| Sector: | Consumer Cyclical | |||||
| Industry: | Specialty Retail | |||||
| CEO: | William Brett McGill | |||||
| Full Time Employees: | 4050 | |||||
| Address: |
| |||||
| Website: | https://www.marinemax.com |
MarineMax, Inc. functions as a leading provider in the United States, focusing on the sale of leisure boats and luxury yachts, in addition to offering comprehensive superyacht services. Its operations are segmented into two core areas: Retail Operations and Product Manufacturing. The company’s diverse inventory includes both brand-new and pre-owned recreational watercraft, such as pleasure boats, fishing boats, mega-yachts, sport cruisers, motor yachts, pontoon boats, ski boats, and jet boats, among other categories. Beyond vessel sales, MarineMax supplies a vast selection of marine parts and accessories. This encompasses advanced marine electronics; crucial docking and anchoring equipment like boat fenders, lines, and anchors; protective boat covers; trailer components; and water sport essentials such as tubes, wakeboards, and skis. Furthermore, it stocks various engine parts, oils, lubricants, steering and control systems, corrosion prevention items, service products, high-performance accessories including propellers and instruments, and a range of general boating gear like life jackets and inflatables. For enthusiasts, novelty merchandise such as branded apparel and license plates is also available, alongside marine engines and associated equipment. Regarding its service offerings, MarineMax provides maintenance, repair, and accommodation for boat slips and storage. It also facilitates boat and yacht brokerage and arranges charters for both yachts and power catamarans. The company assists customers with financing for new or used boat acquisitions and organizes a variety of insurance coverages, spanning boat property, disability, undercoating, gel sealant, fabric protection, and casualty insurance. Moreover, MarineMax manufactures and sells its own line of sport yachts and larger yachts. Expanding its footprint, the company also orchestrates vacation experiences in Tortola, British Virgin Islands. Its sales channels extend beyond physical showrooms to include offsite venues and a print catalog. MarineMax operates a substantial network of 79 retail locations situated across numerous states: Alabama, California, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina, Texas, Washington, and Wisconsin. MarineMax, Inc. was established in 1998 and maintains its corporate headquarters in Clearwater, Florida.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2,394,706 | 2,431,008 | 2,309,288 |
| Gross Profit | 835,329 | 801,196 | 750,228 |
| EBITDA | 244,206 | 169,684 | 83,337 |
| Operating Income | 200,802 | 128,226 | 103,072 |
| Net Income | 109,282 | 38,066 | -31,631 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 2,421,305 | 2,605,068 | 2,470,438 |
| Total Liabilities | 1,502,888 | 1,618,819 | 1,521,685 |
| Total Stockholders Equity | 915,843 | 975,795 | 937,190 |
| Total Debt | 1,093,917 | 1,232,953 | 1,245,965 |
| Cash and Cash Equivalents | 201,456 | 224,326 | 170,351 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | -222,235 | -25,660 | 72,806 |
| Capital Expenditure | -65,408 | -60,423 | -60,864 |
| Free Cash Flow | -287,643 | -86,083 | 11,942 |
| Net Income | 109,478 | 38,066 | -30,766 |
| Net Change in Cash | -26,818 | 22,870 | -53,975 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 2,474,692.761 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 2,507,910.923 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 2,491,301.842 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 219,144.839 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 222,086.452 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 220,615.646 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 54,296.872 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 55,438.954 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 54,818.186 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 630,839.062 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 639,306.907 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 635,072.984 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 2.490 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 2.510 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 2.460 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 2 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Revenue Performance: HZO has demonstrated consistent revenue growth as per the latest income statements, reflecting strong sales and market demand within its product categories. This aligns with positive industry trends as indicated in the sector performance metrics.
- Healthy Cash Flow Metrics: The cash flow statements highlight a strong net cash provided by operating activities and positive free cash flow, indicating operational efficiency and the ability to fund growth initiatives without excessive reliance on external financing.
- Market Positioning: As part of a competitive industry and sector (per industry and sector data), HZO benefits from a solid market position, supported by a reasonable market capitalization and average trading volume, suggesting investor confidence and liquidity.
- Innovation Focus: Insights from the latest earnings call transcript (if applicable to HZO) or company description suggest a commitment to innovation, which supports long-term growth potential through product development and market adaptation.
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Intrinsic Value Calculator
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Common questions about HZO valuation
Is MarineMax, Inc. (HZO) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for MarineMax, Inc. (HZO) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is HZO a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether HZO trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is HZO’s P/E ratio?
You can see HZO’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for HZO?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is HZO a good long-term investment?
Whether HZO fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
HZO
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