NYSE:MPX

Stock Analysis Report

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Executive Summary

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, jet boat, and sport fishing markets worldwide.


Snowflake Analysis

Flawless balance sheet with acceptable track record.


Similar Companies

Share Price & News

How has Marine Products's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MPX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-0.3%

MPX

5.5%

US Leisure

1.9%

US Market


1 Year Return

-12.4%

MPX

2.0%

US Leisure

4.3%

US Market

Return vs Industry: MPX underperformed the US Leisure industry which returned 2% over the past year.

Return vs Market: MPX underperformed the US Market which returned 4.3% over the past year.


Shareholder returns

MPXIndustryMarket
7 Day-0.3%5.5%1.9%
30 Day21.2%15.8%2.7%
90 Day73.9%76.2%26.4%
1 Year-8.8%-12.4%4.1%2.0%6.5%4.3%
3 Year-1.0%-9.9%-2.8%-8.3%35.1%26.2%
5 Year154.7%118.8%2.1%-6.9%67.0%48.4%

Price Volatility Vs. Market

How volatile is Marine Products's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Marine Products undervalued compared to its fair value and its price relative to the market?

18.55x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MPX ($13.63) is trading above our estimate of fair value ($11.39)

Significantly Below Fair Value: MPX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MPX is good value based on its PE Ratio (18.5x) compared to the Leisure industry average (22.9x).

PE vs Market: MPX is poor value based on its PE Ratio (18.5x) compared to the US market (16.4x).


Price to Earnings Growth Ratio

PEG Ratio: MPX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: MPX is overvalued based on its PB Ratio (6x) compared to the US Leisure industry average (3.8x).


Next Steps

Future Growth

How is Marine Products forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-19.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MPX's earnings are forecast to decline over the next 3 years (-19.9% per year).

Earnings vs Market: MPX's earnings are forecast to decline over the next 3 years (-19.9% per year).

High Growth Earnings: MPX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: MPX's revenue is expected to decline over the next 3 years (-5.4% per year).

High Growth Revenue: MPX's revenue is forecast to decline over the next 3 years (-5.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MPX's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Marine Products performed over the past 5 years?

19.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MPX has high quality earnings.

Growing Profit Margin: MPX's current net profit margins (9.3%) are lower than last year (9.3%).


Past Earnings Growth Analysis

Earnings Trend: MPX's earnings have grown by 19.7% per year over the past 5 years.

Accelerating Growth: MPX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MPX had negative earnings growth (-11.9%) over the past year, making it difficult to compare to the Leisure industry average (-10.1%).


Return on Equity

High ROE: MPX's Return on Equity (32.4%) is considered high.


Next Steps

Financial Health

How is Marine Products's financial position?


Financial Position Analysis

Short Term Liabilities: MPX's short term assets ($77.4M) exceed its short term liabilities ($23.5M).

Long Term Liabilities: MPX's short term assets ($77.4M) exceed its long term liabilities ($9.3M).


Debt to Equity History and Analysis

Debt Level: MPX is debt free.

Reducing Debt: MPX has not had any debt for past 5 years.

Debt Coverage: MPX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: MPX has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Marine Products's current dividend yield, its reliability and sustainability?

3.08%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MPX's dividend (3.08%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: MPX's dividend (3.08%) is low compared to the top 25% of dividend payers in the US market (4.49%).


Stability and Growth of Payments

Stable Dividend: MPX has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: MPX's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (59.9%), MPX's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

19.4yrs

Average board tenure


CEO

Richard Hubbell (75yo)

19.42yrs

Tenure

US$1,173,730

Compensation

Mr. Richard A. Hubbell has been the President and Chief Executive Officer of Atlanta, Georgia since March 3, 2009. Mr. Hubbell has been the Chief Executive Officer at RPC, Inc. since April 22, 2003 and has ...


CEO Compensation Analysis

Compensation vs Market: Richard's total compensation ($USD1.17M) is below average for companies of similar size in the US market ($USD2.15M).

Compensation vs Earnings: Richard's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Richard Hubbell
President19.42yrsUS$1.17m3.5% $16.2m
R. Rollins
Chairman19.42yrsUS$1.07m3.88% $18.0m
Gary Rollins
Inside Director19.5yrsUS$72.50k2.68% $12.4m
Henry Tippie
Independent Lead Directorno dataUS$144.00k0.99% $4.6m
James Williams
Independent Director19.5yrsUS$92.00k0.16% $736.0k
Bill Dismuke
Independent Director15.5yrsUS$85.00k0.0044% $20.5k
Pamela Rollins
Director3yrsUS$72.50k0.029% $136.3k
Timothy Rollins
Director3.75yrsUS$72.50k0.016% $72.0k

19.4yrs

Average Tenure

79.5yo

Average Age

Experienced Board: MPX's board of directors are seasoned and experienced ( 19.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Marine Products Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Marine Products Corporation
  • Ticker: MPX
  • Exchange: NYSE
  • Founded: 1965
  • Industry: Leisure Products
  • Sector: Consumer Durables
  • Market Cap: US$463.045m
  • Shares outstanding: 33.97m
  • Website: https://www.marineproductscorp.com

Number of Employees


Location

  • Marine Products Corporation
  • 2801 Buford Highway NE
  • Suite 300
  • Atlanta
  • Georgia
  • 30329
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MPXNYSE (New York Stock Exchange)YesCommon StockUSUSDFeb 2001
50MMUN (Boerse Muenchen)YesCommon StockDEEURFeb 2001

Biography

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, jet boat, and sport fishing markets worldwide. It offers Chaparral sterndrive pleasure boats, including SSi Sport, Ski and Fish Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats within the SSi and SSX, SunCoast, and OSX Sport Luxury models; Robalo outboard sport fishing boats; and Vortex jet boats under the Chaparral brand name. The company also provides center consoles, dual consoles, and Cayman Bay Boats under the Robalo brand name. It sells its products to a network of 195 domestic and 93 international independent authorized dealers. Marine Products Corporation was founded in 1965 and is based in Atlanta, Georgia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/02 00:05
End of Day Share Price2020/07/01 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.