MARINEMAX INC (HZO) Stock Fundamental Analysis
NYSE:HZO - New York Stock Exchange, Inc. - US5679081084 - Common Stock - Currency: USD
HZO gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 121 industry peers in the Specialty Retail industry. There are concerns on the financial health of HZO while its profitability can be described as average. HZO has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year HZO was profitable.
In the past year HZO had a positive cash flow from operations.
In the past 5 years HZO has always been profitable.
The reported operating cash flow has been mixed in the past 5 years: HZO reported negative operating cash flow in multiple years.
1.2 Ratios
HZO's Return On Assets of 2.13% is in line compared to the rest of the industry. HZO outperforms 54.55% of its industry peers.
HZO's Return On Equity of 5.73% is fine compared to the rest of the industry. HZO outperforms 61.98% of its industry peers.
Looking at the Return On Invested Capital, with a value of 4.62%, HZO is in line with its industry, outperforming 56.20% 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 12.99%.
The 3 year average ROIC (9.69%) for HZO is well above the current ROIC(4.62%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.13% | ||
| ROE | 5.73% | ||
| ROIC | 4.62% |
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
Looking at the Profit Margin, with a value of 2.35%, HZO is in the better half of the industry, outperforming 60.33% of the companies in the same industry.
HZO's Profit Margin has declined in the last couple of years.
HZO's Operating Margin of 6.18% is fine compared to the rest of the industry. HZO outperforms 74.38% of its industry peers.
In the last couple of years the Operating Margin of HZO has grown nicely.
Looking at the Gross Margin, with a value of 32.82%, HZO is doing worse than 61.16% of the companies in the same industry.
In the last couple of years the Gross Margin of HZO has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.18% | ||
| PM (TTM) | 2.35% | ||
| GM | 32.82% |
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
HZO has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for HZO has been increased compared to 1 year ago.
Compared to 5 years ago, HZO has more shares outstanding
HZO has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.79, we must say that HZO is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 1.79, HZO perfoms like the industry average, outperforming 40.50% of the companies in the same industry.
HZO has a Debt/Equity ratio of 1.17. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.17, HZO is not doing good in the industry: 60.33% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.79 |
ROIC/WACC0.5
WACC9.18%
2.3 Liquidity
A Current Ratio of 1.16 indicates that HZO should not have too much problems paying its short term obligations.
HZO's Current ratio of 1.16 is on the low side compared to the rest of the industry. HZO is outperformed by 64.46% of its industry peers.
HZO has a Quick Ratio of 1.16. This is a bad value and indicates that HZO is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of HZO (0.31) is worse than 72.73% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.16 | ||
| Quick Ratio | 0.31 |
3. Growth
3.1 Past
The earnings per share for HZO have decreased strongly by -31.31% in the last year.
HZO shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.01% yearly.
The Revenue has decreased by -0.24% in the past year.
HZO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.46% yearly.
EPS 1Y (TTM)-31.31%
EPS 3Y-32.09%
EPS 5Y5.01%
EPS Q2Q%27.78%
Revenue 1Y (TTM)-0.24%
Revenue growth 3Y5.62%
Revenue growth 5Y14.46%
Sales Q2Q%8.34%
3.2 Future
The Earnings Per Share is expected to grow by 19.59% on average over the next years. This is quite good.
The Revenue is expected to grow by 1.71% on average over the next years.
EPS Next Y-10.98%
EPS Next 2Y12.87%
EPS Next 3Y19.59%
EPS Next 5YN/A
Revenue Next Year-1.82%
Revenue Next 2Y0.88%
Revenue Next 3Y1.71%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 11.74, which indicates a very decent valuation of HZO.
79.34% of the companies in the same industry are more expensive than HZO, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 26.35, HZO is valued rather cheaply.
A Price/Forward Earnings ratio of 9.35 indicates a reasonable valuation of HZO.
Based on the Price/Forward Earnings ratio, HZO is valued a bit cheaper than 76.86% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.19. HZO is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.74 | ||
| Fwd PE | 9.35 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HZO indicates a rather cheap valuation: HZO is cheaper than 89.26% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 3.65 |
4.3 Compensation for Growth
A more expensive valuation may be justified as HZO's earnings are expected to grow with 19.59% in the coming years.
PEG (NY)N/A
PEG (5Y)2.34
EPS Next 2Y12.87%
EPS Next 3Y19.59%
5. Dividend
5.1 Amount
No dividends for HZO!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
25.25
-0.17 (-0.67%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)
Earnings (Next)
Inst Owners95.44%
Inst Owner Change5.54%
Ins Owners3.03%
Ins Owner Change-0.26%
Market Cap542.12M
Analysts81.54
Price Target34.1 (35.05%)
Short Float %15.37%
Short Ratio7.58
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)2
Avg EPS beat(2)136.46%
Min EPS beat(2)83.44%
Max EPS beat(2)189.48%
EPS beat(4)3
Avg EPS beat(4)64.64%
Min EPS beat(4)-20.95%
Max EPS beat(4)189.48%
EPS beat(8)4
Avg EPS beat(8)15.81%
EPS beat(12)6
Avg EPS beat(12)9.76%
EPS beat(16)10
Avg EPS beat(16)14.92%
Revenue beat(2)1
Avg Revenue beat(2)1.83%
Min Revenue beat(2)-4.39%
Max Revenue beat(2)8.06%
Revenue beat(4)2
Avg Revenue beat(4)0.65%
Min Revenue beat(4)-4.44%
Max Revenue beat(4)8.06%
Revenue beat(8)5
Avg Revenue beat(8)2.34%
Revenue beat(12)6
Avg Revenue beat(12)0.09%
Revenue beat(16)9
Avg Revenue beat(16)0.73%
PT rev (1m)0%
PT rev (3m)-13.33%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-26.56%
EPS NY rev (1m)0%
EPS NY rev (3m)-20.88%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.93%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.57%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.74 | ||
| Fwd PE | 9.35 | ||
| P/S | 0.22 | ||
| P/FCF | N/A | ||
| P/OCF | 45.41 | ||
| P/B | 0.55 | ||
| P/tB | 1.49 | ||
| EV/EBITDA | 3.65 |
EPS(TTM)2.15
EY8.51%
EPS(NY)2.7
Fwd EY10.7%
FCF(TTM)-2.37
FCFYN/A
OCF(TTM)0.56
OCFY2.2%
SpS112.75
BVpS46.27
TBVpS16.99
PEG (NY)N/A
PEG (5Y)2.34
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.13% | ||
| ROE | 5.73% | ||
| ROCE | 9.75% | ||
| ROIC | 4.62% | ||
| ROICexc | 5.06% | ||
| ROICexgc | 7.14% | ||
| OM | 6.18% | ||
| PM (TTM) | 2.35% | ||
| GM | 32.82% | ||
| 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 Turnover0.91
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.92 | ||
| Cap/Depr | 135.43% | ||
| Cap/Sales | 2.6% | ||
| Interest Coverage | 1.89 | ||
| Cash Conversion | 6.09% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.16 | ||
| Quick Ratio | 0.31 | ||
| Altman-Z | 1.79 |
F-Score4
WACC9.18%
ROIC/WACC0.5
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)-31.31%
EPS 3Y-32.09%
EPS 5Y5.01%
EPS Q2Q%27.78%
EPS Next Y-10.98%
EPS Next 2Y12.87%
EPS Next 3Y19.59%
EPS Next 5YN/A
Revenue 1Y (TTM)-0.24%
Revenue growth 3Y5.62%
Revenue growth 5Y14.46%
Sales Q2Q%8.34%
Revenue Next Year-1.82%
Revenue Next 2Y0.88%
Revenue Next 3Y1.71%
Revenue Next 5YN/A
EBIT growth 1Y0.15%
EBIT growth 3Y-15.1%
EBIT growth 5Y16.21%
EBIT Next Year13.69%
EBIT Next 3Y14.57%
EBIT Next 5YN/A
FCF growth 1Y83.85%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y104.54%
OCF growth 3YN/A
OCF growth 5YN/A