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MARINEMAX INC (HZO) Stock Fundamental Analysis

NYSE:HZO - New York Stock Exchange, Inc. - US5679081084 - Common Stock - Currency: USD

24.7  +0.45 (+1.86%)

Fundamental Rating

3

HZO gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 122 industry peers in the Specialty Retail industry. While HZO is still in line with the averages on profitability rating, there are concerns on its financial health. HZO is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

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.
Each year in the past 5 years HZO has been profitable.
The reported operating cash flow has been mixed in the past 5 years: HZO reported negative operating cash flow in multiple years.
HZO Yearly Net Income VS EBIT VS OCF VS FCFHZO Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M

1.2 Ratios

HZO has a Return On Assets (2.13%) which is in line with its industry peers.
HZO has a Return On Equity of 5.73%. This is in the better half of the industry: HZO outperforms 63.11% of its industry peers.
With a Return On Invested Capital value of 4.62%, HZO perfoms like the industry average, outperforming 56.56% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for HZO is below the industry average of 12.95%.
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 RankSector 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%
HZO Yearly ROA, ROE, ROICHZO Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

1.3 Margins

Looking at the Profit Margin, with a value of 2.35%, HZO is in the better half of the industry, outperforming 60.66% of the companies in the same industry.
In the last couple of years the Profit Margin of HZO has declined.
HZO has a Operating Margin of 6.18%. This is in the better half of the industry: HZO outperforms 74.59% 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 60.66% of its industry peers.
HZO's Gross Margin has improved in the last couple of years.
Industry RankSector 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%
HZO Yearly Profit, Operating, Gross MarginsHZO Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HZO is still creating some value.
The number of shares outstanding for HZO has been increased compared to 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.
HZO Yearly Shares OutstandingHZO Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
HZO Yearly Total Debt VS Total AssetsHZO Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

2.2 Solvency

Based on the Altman-Z score of 1.78, we must say that HZO is in the distress zone and has some risk of bankruptcy.
HZO has a Altman-Z score of 1.78. This is in the lower half of the industry: HZO underperforms 60.66% of its industry peers.
HZO has a Debt/Equity ratio of 1.17. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.17, HZO is in line with its industry, outperforming 40.98% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.17
Debt/FCF N/A
Altman-Z 1.78
ROIC/WACC0.51
WACC9.11%
HZO Yearly LT Debt VS Equity VS FCFHZO Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M 800M

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.
HZO has a Current ratio of 1.16. This is in the lower half of the industry: HZO underperforms 63.93% of its industry peers.
A Quick Ratio of 0.31 indicates that HZO may have some problems paying its short term obligations.
HZO has a Quick ratio of 0.31. This is in the lower half of the industry: HZO underperforms 72.13% of its industry peers.
Industry RankSector Rank
Current Ratio 1.16
Quick Ratio 0.31
HZO Yearly Current Assets VS Current LiabilitesHZO Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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4

3. Growth

3.1 Past

HZO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -31.31%.
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.
Looking at the last year, HZO shows a decrease in Revenue. The Revenue has decreased by -0.24% in the last 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

Based on estimates for the next years, HZO will show a very strong growth in Earnings Per Share. The EPS will grow by 20.59% on average per year.
The Revenue is expected to grow by 1.85% on average over the next years.
EPS Next Y-10%
EPS Next 2Y13.64%
EPS Next 3Y20.59%
EPS Next 5YN/A
Revenue Next Year-1.69%
Revenue Next 2Y1%
Revenue Next 3Y1.85%
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.
HZO Yearly Revenue VS EstimatesHZO Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B 2.5B
HZO Yearly EPS VS EstimatesHZO Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6 8

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 11.49 indicates a reasonable valuation of HZO.
Compared to the rest of the industry, the Price/Earnings ratio of HZO indicates a rather cheap valuation: HZO is cheaper than 81.97% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of HZO to the average of the S&P500 Index (27.54), we can say HZO is valued rather cheaply.
HZO is valuated reasonably with a Price/Forward Earnings ratio of 9.02.
Based on the Price/Forward Earnings ratio, HZO is valued cheaper than 81.97% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 36.44. HZO is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 11.49
Fwd PE 9.02
HZO Price Earnings VS Forward Price EarningsHZO Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, HZO is valued cheaply inside the industry as 91.80% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 3.52
HZO Per share dataHZO EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80 100

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)2.29
EPS Next 2Y13.64%
EPS Next 3Y20.59%

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0

5. Dividend

5.1 Amount

No dividends for HZO!.
Industry RankSector Rank
Dividend Yield N/A

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MARINEMAX INC

NYSE:HZO (7/21/2025, 12:56:50 PM)

24.7

+0.45 (+1.86%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)04-24 2025-04-24/bmo
Earnings (Next)07-24 2025-07-24/bmo
Inst Owners95.44%
Inst Owner Change-0.09%
Ins Owners3.03%
Ins Owner Change-0.32%
Market Cap530.31M
Analysts81.54
Price Target34.53 (39.8%)
Short Float %15.86%
Short Ratio9.99
Dividend
Industry RankSector 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)1.28%
PT rev (3m)-12.22%
EPS NQ rev (1m)0.32%
EPS NQ rev (3m)-27.85%
EPS NY rev (1m)0%
EPS NY rev (3m)-16.17%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-5.03%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.49%
Valuation
Industry RankSector Rank
PE 11.49
Fwd PE 9.02
P/S 0.22
P/FCF N/A
P/OCF 44.42
P/B 0.53
P/tB 1.45
EV/EBITDA 3.52
EPS(TTM)2.15
EY8.7%
EPS(NY)2.74
Fwd EY11.09%
FCF(TTM)-2.37
FCFYN/A
OCF(TTM)0.56
OCFY2.25%
SpS112.75
BVpS46.27
TBVpS16.99
PEG (NY)N/A
PEG (5Y)2.29
Profitability
Industry RankSector 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 RankSector 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 1.78
F-Score4
WACC9.11%
ROIC/WACC0.51
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%
EPS Next 2Y13.64%
EPS Next 3Y20.59%
EPS Next 5YN/A
Revenue 1Y (TTM)-0.24%
Revenue growth 3Y5.62%
Revenue growth 5Y14.46%
Sales Q2Q%8.34%
Revenue Next Year-1.69%
Revenue Next 2Y1%
Revenue Next 3Y1.85%
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