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 121 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 correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year HZO was profitable.
HZO had a positive operating cash flow in the past year.
Each year in the past 5 years HZO has been profitable.
In multiple years HZO reported negative operating cash flow during the last 5 years.
1.2 Ratios
HZO's Return On Assets of 2.13% is in line compared to the rest of the industry. HZO outperforms 56.20% of its industry peers.
With a decent Return On Equity value of 5.73%, HZO is doing good in the industry, outperforming 61.98% of the companies in the same industry.
The Return On Invested Capital of HZO (4.62%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for HZO is below the industry average of 12.74%.
The last Return On Invested Capital (4.62%) for HZO is well below the 3 year average (9.69%), which needs to be investigated, but indicates that HZO had better years and this may not be a problem.
| 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
HZO has a better Profit Margin (2.35%) than 61.16% of its industry peers.
HZO's Profit Margin has declined in the last couple of years.
HZO has a Operating Margin of 6.18%. This is in the better half of the industry: HZO outperforms 72.73% of its industry peers.
HZO's Operating Margin has improved in the last couple of years.
HZO's Gross Margin of 32.82% is on the low side compared to the rest of the industry. HZO is outperformed by 61.98% of its industry peers.
HZO's Gross Margin has improved in the last couple of years.
| 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
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HZO is creating some value.
Compared to 1 year ago, HZO has more shares outstanding
The number of shares outstanding for HZO has been increased compared to 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 1.76. This is a bad value and indicates that HZO is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.76, HZO is doing worse than 63.64% 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.
HZO has a Debt to Equity ratio of 1.17. This is in the lower half of the industry: HZO underperforms 61.98% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.76 |
ROIC/WACC0.52
WACC8.83%
2.3 Liquidity
HZO has a Current Ratio of 1.16. This is a normal value and indicates that HZO is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.16, HZO is doing worse than 66.12% of the companies in the same industry.
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.
With a Quick ratio value of 0.31, HZO is not doing good in the industry: 76.03% of the companies in the same industry are doing better.
| 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.
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 -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
HZO is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 19.59% yearly.
Based on estimates for the next years, HZO will show a small growth in Revenue. The Revenue will grow by 1.71% on average per year.
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
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
A Price/Earnings ratio of 9.87 indicates a reasonable valuation of HZO.
85.12% of the companies in the same industry are more expensive than HZO, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 25.82. HZO is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 7.86, which indicates a rather cheap valuation of HZO.
89.26% of the companies in the same industry are more expensive than HZO, based on the Price/Forward Earnings ratio.
HZO's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.76.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.87 | ||
| Fwd PE | 7.86 |
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 92.56% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 3.22 |
4.3 Compensation for Growth
HZO's earnings are expected to grow with 19.59% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)1.97
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 |
21.23
-0.28 (-1.3%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)
Earnings (Next)
Inst Owners88.02%
Inst Owner Change5.59%
Ins Owners2.85%
Ins Owner Change0.96%
Market Cap455.81M
Analysts81.54
Price Target34.1 (60.62%)
Short Float %17.52%
Short Ratio7.7
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)-13.33%
PT rev (3m)-13.65%
EPS NQ rev (1m)-28.08%
EPS NQ rev (3m)-26.56%
EPS NY rev (1m)-17.08%
EPS NY rev (3m)-20.88%
Revenue NQ rev (1m)-5.03%
Revenue NQ rev (3m)-5.11%
Revenue NY rev (1m)-0.61%
Revenue NY rev (3m)-0.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.87 | ||
| Fwd PE | 7.86 | ||
| P/S | 0.19 | ||
| P/FCF | N/A | ||
| P/OCF | 38.18 | ||
| P/B | 0.46 | ||
| P/tB | 1.25 | ||
| EV/EBITDA | 3.22 |
EPS(TTM)2.15
EY10.13%
EPS(NY)2.7
Fwd EY12.72%
FCF(TTM)-2.37
FCFYN/A
OCF(TTM)0.56
OCFY2.62%
SpS112.75
BVpS46.27
TBVpS16.99
PEG (NY)N/A
PEG (5Y)1.97
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 | 1.76 |
F-Score4
WACC8.83%
ROIC/WACC0.52
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 Year27.06%
EBIT Next 3Y19.04%
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