MARINEMAX INC (HZO) Stock Fundamental Analysis
NYSE:HZO - New York Stock Exchange, Inc. - US5679081084 - Common Stock - Currency: USD
We assign a fundamental rating of 3 out of 10 to HZO. HZO was compared to 123 industry peers in the Specialty Retail industry. HZO has a medium profitability rating, but doesn't score so well on its financial health evaluation. HZO has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
HZO had positive earnings in the past year.
In the past year HZO had a positive cash flow from operations.
HZO had positive earnings in each of the past 5 years.
In multiple years HZO reported negative operating cash flow during the last 5 years.
1.2 Ratios
HZO has a Return On Assets (-1.08%) which is in line with its industry peers.
HZO has a Return On Equity (-2.85%) which is in line with its industry peers.
With a Return On Invested Capital value of 3.78%, HZO perfoms like the industry average, outperforming 52.85% of the companies in the same industry.
HZO had an Average Return On Invested Capital over the past 3 years of 9.69%. This is below the industry average of 11.91%.
The 3 year average ROIC (9.69%) for HZO is well above the current ROIC(3.78%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.08% | ||
| ROE | -2.85% | ||
| ROIC | 3.78% |
ROA(3y)6.87%
ROA(5y)9.12%
ROE(3y)13.71%
ROE(5y)16.71%
ROIC(3y)9.69%
ROIC(5y)12.16%
1.3 Margins
HZO's Profit Margin has declined in the last couple of years.
HZO has a better Operating Margin (5.00%) than 68.29% of its industry peers.
HZO's Operating Margin has improved in the last couple of years.
The Gross Margin of HZO (32.41%) is worse than 60.16% of its industry peers.
HZO's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 5% | ||
| PM (TTM) | N/A | ||
| GM | 32.41% |
OM growth 3Y-19.61%
OM growth 5Y1.53%
PM growth 3Y-40.71%
PM growth 5Y-11.66%
GM growth 3Y1.03%
GM growth 5Y4.78%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HZO is creating some value.
HZO has more shares outstanding than it did 1 year ago.
HZO has more shares outstanding than it did 5 years ago.
The debt/assets ratio for HZO is higher compared to a year ago.
2.2 Solvency
HZO has an Altman-Z score of 1.80. This is a bad value and indicates that HZO is not financially healthy and even has some risk of bankruptcy.
HZO has a Altman-Z score of 1.80. This is in the lower half of the industry: HZO underperforms 61.79% of its industry peers.
A Debt/Equity ratio of 1.17 is on the high side and indicates that HZO has dependencies on debt financing.
The Debt to Equity ratio of HZO (1.17) is worse than 60.16% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.8 |
ROIC/WACC0.42
WACC9.11%
2.3 Liquidity
A Current Ratio of 1.21 indicates that HZO should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.21, HZO is doing worse than 60.98% of the companies in the same industry.
A Quick Ratio of 0.29 indicates that HZO may have some problems paying its short term obligations.
With a Quick ratio value of 0.29, HZO is not doing good in the industry: 70.73% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.21 | ||
| Quick Ratio | 0.29 |
3. Growth
3.1 Past
HZO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -56.03%.
Measured over the past 5 years, HZO shows a small growth in Earnings Per Share. The EPS has been growing by 5.01% on average per year.
The Revenue has decreased by -5.78% in the past year.
The Revenue has been growing by 14.46% on average over the past years. This is quite good.
EPS 1Y (TTM)-56.03%
EPS 3Y-32.09%
EPS 5Y5.01%
EPS Q2Q%-67.55%
Revenue 1Y (TTM)-5.78%
Revenue growth 3Y5.62%
Revenue growth 5Y14.46%
Sales Q2Q%-13.27%
3.2 Future
HZO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.59% yearly.
HZO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.87% yearly.
EPS Next Y-10%
EPS Next 2Y13.64%
EPS Next 3Y20.59%
EPS Next 5YN/A
Revenue Next Year-5.41%
Revenue Next 2Y-1.1%
Revenue Next 3Y0.87%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
HZO is valuated rather expensively with a Price/Earnings ratio of 22.00.
Based on the Price/Earnings ratio, HZO is valued a bit cheaper than 71.54% of the companies in the same industry.
HZO's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.73.
Based on the Price/Forward Earnings ratio of 9.08, the valuation of HZO can be described as reasonable.
Based on the Price/Forward Earnings ratio, HZO is valued cheaply inside the industry as 86.99% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 34.61, HZO is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22 | ||
| Fwd PE | 9.08 |
4.2 Price Multiples
86.99% of the companies in the same industry are more expensive than HZO, based on the Enterprise Value to EBITDA ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.54 |
4.3 Compensation for Growth
A more expensive valuation may be justified as HZO's earnings are expected to grow with 20.59% in the coming years.
PEG (NY)N/A
PEG (5Y)4.39
EPS Next 2Y13.64%
EPS Next 3Y20.59%
5. Dividend
5.1 Amount
No dividends for HZO!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
24.86
+1.82 (+7.9%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)
Earnings (Next)
Inst Owners95.79%
Inst Owner Change0.79%
Ins Owners3.04%
Ins Owner Change0.44%
Market Cap533.50M
Analysts81.67
Price Target34.34 (38.13%)
Short Float %15.45%
Short Ratio9.06
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)12.16%
Min EPS beat(2)-59.12%
Max EPS beat(2)83.44%
EPS beat(4)2
Avg EPS beat(4)48.21%
Min EPS beat(4)-59.12%
Max EPS beat(4)189.48%
EPS beat(8)3
Avg EPS beat(8)6.98%
EPS beat(12)5
Avg EPS beat(12)4.55%
EPS beat(16)9
Avg EPS beat(16)9.43%
Revenue beat(2)1
Avg Revenue beat(2)-2.21%
Min Revenue beat(2)-12.47%
Max Revenue beat(2)8.06%
Revenue beat(4)1
Avg Revenue beat(4)-3.31%
Min Revenue beat(4)-12.47%
Max Revenue beat(4)8.06%
Revenue beat(8)4
Avg Revenue beat(8)-0.15%
Revenue beat(12)6
Avg Revenue beat(12)-0.01%
Revenue beat(16)8
Avg Revenue beat(16)-0.32%
PT rev (1m)-0.56%
PT rev (3m)0.71%
EPS NQ rev (1m)-139.19%
EPS NQ rev (3m)-128.01%
EPS NY rev (1m)0%
EPS NY rev (3m)-16.17%
Revenue NQ rev (1m)-7.2%
Revenue NQ rev (3m)-10.86%
Revenue NY rev (1m)-3.78%
Revenue NY rev (3m)-3.66%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22 | ||
| Fwd PE | 9.08 | ||
| P/S | 0.23 | ||
| P/FCF | N/A | ||
| P/OCF | 50.46 | ||
| P/B | 0.57 | ||
| P/tB | 1.42 | ||
| EV/EBITDA | 4.54 |
EPS(TTM)1.13
EY4.55%
EPS(NY)2.74
Fwd EY11.01%
FCF(TTM)-2.5
FCFYN/A
OCF(TTM)0.49
OCFY1.98%
SpS108.12
BVpS43.83
TBVpS17.55
PEG (NY)N/A
PEG (5Y)4.39
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.08% | ||
| ROE | -2.85% | ||
| ROCE | 7.75% | ||
| ROIC | 3.78% | ||
| ROICexc | 4.06% | ||
| ROICexgc | 5.57% | ||
| OM | 5% | ||
| PM (TTM) | N/A | ||
| GM | 32.41% | ||
| FCFM | N/A |
ROA(3y)6.87%
ROA(5y)9.12%
ROE(3y)13.71%
ROE(5y)16.71%
ROIC(3y)9.69%
ROIC(5y)12.16%
ROICexc(3y)11.72%
ROICexc(5y)15.7%
ROICexgc(3y)16.73%
ROICexgc(5y)22.44%
ROCE(3y)16.44%
ROCE(5y)19.71%
ROICexcg growth 3Y-46.03%
ROICexcg growth 5Y-2.42%
ROICexc growth 3Y-44.7%
ROICexc growth 5Y-7.52%
OM growth 3Y-19.61%
OM growth 5Y1.53%
PM growth 3Y-40.71%
PM growth 5Y-11.66%
GM growth 3Y1.03%
GM growth 5Y4.78%
F-Score4
Asset Turnover0.93
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 6.72 | ||
| Cap/Depr | 134.26% | ||
| Cap/Sales | 2.77% | ||
| Interest Coverage | 1.5 | ||
| Cash Conversion | 6.45% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.21 | ||
| Quick Ratio | 0.29 | ||
| Altman-Z | 1.8 |
F-Score4
WACC9.11%
ROIC/WACC0.42
Cap/Depr(3y)198.93%
Cap/Depr(5y)172.82%
Cap/Sales(3y)2.58%
Cap/Sales(5y)1.97%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-56.03%
EPS 3Y-32.09%
EPS 5Y5.01%
EPS Q2Q%-67.55%
EPS Next Y-10%
EPS Next 2Y13.64%
EPS Next 3Y20.59%
EPS Next 5YN/A
Revenue 1Y (TTM)-5.78%
Revenue growth 3Y5.62%
Revenue growth 5Y14.46%
Sales Q2Q%-13.27%
Revenue Next Year-5.41%
Revenue Next 2Y-1.1%
Revenue Next 3Y0.87%
Revenue Next 5YN/A
EBIT growth 1Y-14.52%
EBIT growth 3Y-15.1%
EBIT growth 5Y16.21%
EBIT Next Year-13.84%
EBIT Next 3Y9.34%
EBIT Next 5YN/A
FCF growth 1Y82.57%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y104.35%
OCF growth 3YN/A
OCF growth 5YN/A