NasdaqCM:LAZY

Stock Analysis Report

Executive Summary

Lazydays Holdings, Inc., through its subsidiaries, operates recreation vehicle (RV) dealerships in the United States.

Rewards

Trading at 91.5% below its fair value

Risk Analysis

Earnings have declined by -72.49% per year over past 5 years

Currently unprofitable and not forecast to become profitable over the next 3 years

Significant insider selling over the past 3 months

Shareholders have been diluted in the past year

+ 1 more risk


Snowflake Analysis

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

How has Lazydays Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: LAZY has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

3.4%

LAZY

0.3%

US Specialty Retail

0.8%

US Market


1 Year Return

-34.9%

LAZY

23.1%

US Specialty Retail

25.1%

US Market

Return vs Industry: LAZY underperformed the US Specialty Retail industry which returned 23.7% over the past year.

Return vs Market: LAZY underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

LAZYIndustryMarket
7 Day3.4%0.3%0.8%
30 Day-1.2%0.8%3.1%
90 Day1.7%6.6%10.9%
1 Year-34.9%-34.9%25.1%23.1%27.7%25.1%
3 Yearn/a44.4%37.1%51.3%41.6%
5 Yearn/a48.1%35.5%77.2%57.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Lazydays Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: LAZY ($4.4) is trading below our estimate of fair value ($51.94)

Significantly Below Fair Value: LAZY is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: LAZY is unprofitable, so we can't compare its PE Ratio to the Specialty Retail industry average.

PE vs Market: LAZY is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate LAZY's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: LAZY is good value based on its PB Ratio (0.5x) compared to the US Specialty Retail industry average (1.5x).


Next Steps

Future Growth

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

2.2%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if LAZY's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if LAZY's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: LAZY's revenue (2.2% per year) is forecast to grow slower than the US market (7.5% per year).

High Growth Revenue: LAZY's revenue (2.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Lazydays Holdings performed over the past 5 years?

-72.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LAZY is currently unprofitable.

Growing Profit Margin: LAZY is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: LAZY is unprofitable, and losses have increased over the past 5 years at a rate of -72.5% per year.

Accelerating Growth: Unable to compare LAZY's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: LAZY is unprofitable, making it difficult to compare its past year earnings growth to the Specialty Retail industry (4.5%).


Return on Equity

High ROE: LAZY has a negative Return on Equity (-0.89%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Lazydays Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: LAZY's short term assets ($184.1M) exceed its short term liabilities ($138.9M).

Long Term Liabilities: LAZY's short term assets ($184.1M) exceed its long term liabilities ($99.6M).


Debt to Equity History and Analysis

Debt Level: LAZY's debt to equity ratio (143.4%) is considered high.

Reducing Debt: Insufficient data to determine if LAZY's debt to equity ratio has reduced over the past 5 years.


Balance Sheet

Inventory Level: LAZY has a high level of physical assets or inventory.

Debt Coverage by Assets: LAZY's debt is not covered by short term assets (assets are 0.9x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable LAZY has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: LAZY is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 92.3% per year.


Next Steps

Dividend

What is Lazydays Holdings's current dividend yield, its reliability and sustainability?

0.008%

Forecast Dividend Yield


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage1.8%forecastin3Years0.008%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate LAZY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate LAZY's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if LAZY's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if LAZY's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of LAZY's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Lazydays Holdings's salary, the management and board of directors tenure and is there insider trading?

2.4yrs

Average management tenure


CEO

Bill Murnane (56yo)

3.1yrs

Tenure

US$8,747,922

Compensation

Mr. William Paul Murnane, also known as Bill, has been Chairman of the Lazydays Holdings, Inc. since March 2018. Mr. Murnane has been Chief Executive Officer of Lazydays RV SuperCenter, Inc. since December ...


CEO Compensation Analysis

Compensation vs Market: Bill's total compensation ($USD8.75M) is above average for companies of similar size in the US market ($USD519.76K).

Compensation vs Earnings: Bill's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

2.4yrs

Average Tenure

42yo

Average Age

Experienced Management: LAZY's management team is considered experienced (2.4 years average tenure).


Board Age and Tenure

1.8yrs

Average Tenure

46yo

Average Age

Experienced Board: LAZY's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: LAZY insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

BuyUS$284,14918 Dec 19
Coliseum Capital Management, LLC
EntityCompany
Shares66,390
Max PriceUS$4.28
BuyUS$284,14918 Dec 19
Coliseum Capital Management, LLC
EntityCompany
Shares66,390
Max PriceUS$4.28
BuyUS$4,00017 Dec 19
William Murnane
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares1,000
Max PriceUS$4.00
SellUS$300,00017 Dec 19
Benjamin Luke Weil
EntityIndividual
Role
Member of the Board of Directors
Director
Shares75,000
Max PriceUS$4.00
BuyUS$3,85010 Dec 19
William Murnane
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares1,000
Max PriceUS$3.85
BuyUS$4,05004 Dec 19
William Murnane
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares1,000
Max PriceUS$4.05
BuyUS$4,25027 Nov 19
William Murnane
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares1,000
Max PriceUS$4.25
SellUS$525,00021 Jun 19
Benjamin Luke Weil
EntityIndividual
Role
Member of the Board of Directors
Director
Shares100,000
Max PriceUS$5.25
BuyUS$525,00021 Jun 19
Coliseum Capital Management, LLC
EntityCompany
Shares100,000
Max PriceUS$5.25
BuyUS$84,82317 Jun 19
Coliseum Capital Management, LLC
EntityCompany
Shares17,207
Max PriceUS$5.02
BuyUS$5,10504 Jun 19
Coliseum Capital Management, LLC
EntityCompany
Shares1,021
Max PriceUS$5.00
BuyUS$20,72230 May 19
Coliseum Capital Management, LLC
EntityCompany
Shares4,152
Max PriceUS$5.00
BuyUS$23,51923 May 19
Coliseum Capital Management, LLC
EntityCompany
Shares4,714
Max PriceUS$4.99
BuyUS$35,19020 May 19
Coliseum Capital Management, LLC
EntityCompany
Shares7,138
Max PriceUS$4.93
BuyUS$21,25016 May 19
William Murnane
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares5,000
Max PriceUS$4.25
BuyUS$9,64016 May 19
Nicholas Tomashot
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares2,000
Max PriceUS$4.82

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 15.1%.


Management Team

  • Bill Murnane (56yo)

    Chairman & CEO

    • Tenure: 3.1yrs
    • Compensation: US$8.75m
  • Nick Tomashot (56yo)

    Chief Financial Officer

    • Tenure: 1.7yrs
    • Compensation: US$2.88m
  • Linda Stephens (42yo)

    Vice President of Customer Experience

    • Tenure: 1yrs
  • Maya Ivette Hernandez (39yo)

    Treasurer & Secretary

    • Tenure: 4.3yrs
  • Eric Carrera (30yo)

    Senior Vice President

    • Tenure: 4.4yrs
  • James Meehan

    Corporate Controller

    • Keith Foerster

      Vice President of Service

      • Tenure: 0.3yrs

    Board Members

    • Bill Murnane (56yo)

      Chairman & CEO

      • Tenure: 3.1yrs
      • Compensation: US$8.75m
    • Jerry Comstock (65yo)

      Independent Director

      • Tenure: 1.8yrs
      • Compensation: US$115.00k
    • Erika Serow (45yo)

      Independent Director

      • Tenure: 1.8yrs
      • Compensation: US$106.25k
    • Jordan Gnat (46yo)

      Independent Director

      • Tenure: 1.8yrs
      • Compensation: US$107.50k
    • Chris Shackelton (39yo)

      Independent Director

      • Tenure: 1.8yrs
      • Compensation: US$65.00k
    • Benjamin Luke Weil (40yo)

      Director

      • Tenure: 4.5yrs
      • Compensation: US$100.00k
    • Jim Fredlake (54yo)

      Independent Director

      • Tenure: 1.8yrs
      • Compensation: US$347.43k

    Company Information

    Lazydays Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


    Key Information

    • Name: Lazydays Holdings, Inc.
    • Ticker: LAZY
    • Exchange: NasdaqCM
    • Founded: 1976
    • Industry: Automotive Retail
    • Sector: Retail
    • Market Cap: US$37.233m
    • Shares outstanding: 8.47m
    • Website: https://www.lazydays.com

    Number of Employees


    Location

    • Lazydays Holdings, Inc.
    • 6130 Lazy Days Boulevard
    • Seffner
    • Florida
    • 33584
    • United States

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    LAZYNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDMar 2018

    Biography

    Lazydays Holdings, Inc., through its subsidiaries, operates recreation vehicle (RV) dealerships in the United States. It provides various products, including RV sales, RV services, financing and insurance products, RV parts and accessories, RV rentals, third-party protection plans, after-market parts and accessories, and RV camping for RV owners. The company offers various new and used vehicles; onsite general RV maintenance and repair services; and collision repair services, as well as sells and installs various parts and accessories. It also operates a fleet of vehicles for rent; and Lazydays RV resort at Tampa, Florida. In addition, the company arranges financing for vehicle purchases through third-party finance sources; and offers various third-party protection plans and services to the purchasers of its RVs. It operates six dealership locations in Florida, Colorado, Arizona, Minnesota, and Tennessee. The company was founded in 1976 and is based in Seffner, Florida. 


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2020/01/22 01:18
    End of Day Share Price2020/01/21 00:00
    Earnings2019/09/30
    Annual Earnings2018/12/31


    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.