| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 0/6 |
| Past Performance | 5/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
HZO Stock Overview
MarineMax, Inc. operates as a recreational boat and yacht retailer and superyacht services company in the United States.
MarineMax Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$43.80 |
| 52 Week High | US$61.06 |
| 52 Week Low | US$35.10 |
| Beta | 1.61 |
| 1 Month Change | 11.42% |
| 3 Month Change | 6.73% |
| 1 Year Change | -11.60% |
| 3 Year Change | 208.89% |
| 5 Year Change | 181.67% |
| Change since IPO | 248.64% |
Recent News & Updates
MarineMax to acquire IGY Marinas for $480M in cash
MarineMax (NYSE:HZO) entered into a definitive agreement to acquire Island Global Yachting (IGY), which owns and operates a collection of iconic marina assets and a yacht management platform in key global yachting destinations. MarineMax will acquire IGY Marinas for $480M in cash, with an additional potential earnout of up to $100M, two years after closing which is expected in 1H23. IGY Marinas, through recent acquisitions and organic growth, is projected to generate $100M+ of revenue in CY22. Acquisition is said to be accretive within the first twelve months of closure. The transaction will be financed through MarineMax’s recently completed expansion of its credit facilities and cash on hand.
Shareholder Returns
| HZO | US Specialty Retail | US Market | |
|---|---|---|---|
| 7D | 14.3% | 10.4% | 4.5% |
| 1Y | -11.6% | -23.4% | -8.9% |
Return vs Industry: HZO exceeded the US Specialty Retail industry which returned -28.7% over the past year.
Return vs Market: HZO underperformed the US Market which returned -9.6% over the past year.
Price Volatility
| HZO volatility | |
|---|---|
| HZO Average Weekly Movement | 6.4% |
| Specialty Retail Industry Average Movement | 9.0% |
| Market Average Movement | 7.6% |
| 10% most volatile stocks in US Market | 16.8% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: HZO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: HZO's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1998 | 2,666 | William McGill | https://www.marinemax.com |
MarineMax, Inc. operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates through two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, pontoon boats, ski boats, jet boats, and other recreational boats.
MarineMax Fundamentals Summary
| HZO fundamental statistics | |
|---|---|
| Market Cap | US$943.20m |
| Earnings (TTM) | US$192.46m |
| Revenue (TTM) | US$2.23b |
4.9x
P/E Ratio0.4x
P/S RatioIs HZO overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| HZO income statement (TTM) | |
|---|---|
| Revenue | US$2.23b |
| Cost of Revenue | US$1.45b |
| Gross Profit | US$783.54m |
| Other Expenses | US$591.08m |
| Earnings | US$192.46m |
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | 8.94 |
| Gross Margin | 35.08% |
| Net Profit Margin | 8.62% |
| Debt/Equity Ratio | 21.0% |
How did HZO perform over the long term?
See historical performance and comparisonValuation
Is HZO undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation Score 5/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast
Key Valuation Metric
Which metric is best to use when looking at relative valuation for HZO?
Other financial metrics that can be useful for relative valuation.
| What is HZO's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | US$943.20m |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 0.4x |
| Enterprise Value/EBITDA | 3.3x |
| PEG Ratio | -1.3x |
Price to Earnings Ratio vs Peers
How does HZO's PE Ratio compare to its peers?
| HZO PE Ratio vs Peers |
|---|
| Company | PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 9.2x | ||
HIBB Hibbett | 6.3x | 5.2% | US$809.5m |
WINA Winmark | 20.3x | n/a | US$822.6m |
SPWH Sportsman's Warehouse Holdings | 4.8x | -14.8% | US$477.4m |
TCS Container Store Group | 5.5x | -8.3% | US$408.7m |
HZO MarineMax | 4.9x | -3.7% | US$943.2m |
Price-To-Earnings vs Peers: HZO is good value based on its Price-To-Earnings Ratio (4.9x) compared to the peer average (9.2x).
Price to Earnings Ratio vs Industry
How does HZO's PE Ratio compare vs other companies in the US Specialty Retail Industry?
Price-To-Earnings vs Industry: HZO is good value based on its Price-To-Earnings Ratio (4.9x) compared to the US Specialty Retail industry average (6.6x)
Price to Earnings Ratio vs Fair Ratio
What is HZO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 4.9x |
| Fair PE Ratio | 8.5x |
Price-To-Earnings vs Fair Ratio: HZO is good value based on its Price-To-Earnings Ratio (4.9x) compared to the estimated Fair Price-To-Earnings Ratio (8.5x).
Share Price vs Fair Value
What is the Fair Price of HZO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: HZO ($43.8) is trading below our estimate of fair value ($99.12)
Significantly Below Fair Value: HZO is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is less than 20% higher than the current share price.
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Future Growth
How is MarineMax forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Future Growth Score
0/6Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
-3.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HZO's earnings are forecast to decline over the next 3 years (-3.7% per year).
Earnings vs Market: HZO's earnings are forecast to decline over the next 3 years (-3.7% per year).
High Growth Earnings: HZO's earnings are forecast to decline over the next 3 years.
Revenue vs Market: HZO's revenue (1.4% per year) is forecast to grow slower than the US market (7.9% per year).
High Growth Revenue: HZO's revenue (1.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: HZO's Return on Equity is forecast to be low in 3 years time (8.5%).
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Past Performance
How has MarineMax performed over the past 5 years?
Past Performance Score
5/6Past Performance Score 5/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
44.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HZO has high quality earnings.
Growing Profit Margin: HZO's current net profit margins (8.6%) are higher than last year (7.4%).
Past Earnings Growth Analysis
Earnings Trend: HZO's earnings have grown significantly by 44.9% per year over the past 5 years.
Accelerating Growth: HZO's earnings growth over the past year (30.3%) is below its 5-year average (44.9% per year).
Earnings vs Industry: HZO earnings growth over the past year (30.3%) exceeded the Specialty Retail industry 29.2%.
Return on Equity
High ROE: HZO's Return on Equity (25.9%) is considered high.
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Financial Health
How is MarineMax's financial position?
Financial Health Score
6/6Financial Health Score 6/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: HZO's short term assets ($736.0M) exceed its short term liabilities ($412.6M).
Long Term Liabilities: HZO's short term assets ($736.0M) exceed its long term liabilities ($164.8M).
Debt to Equity History and Analysis
Debt Level: HZO has more cash than its total debt.
Reducing Debt: HZO's debt to equity ratio has reduced from 72.3% to 21% over the past 5 years.
Debt Coverage: HZO's debt is well covered by operating cash flow (107.2%).
Interest Coverage: HZO's interest payments on its debt are well covered by EBIT (87.5x coverage).
Balance Sheet
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Dividend
What is MarineMax current dividend yield, its reliability and sustainability?
Dividend Score
0/6Dividend Score 0/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage
Dividend Yield vs Market
Notable Dividend: Unable to evaluate HZO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate HZO's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if HZO's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if HZO's dividend payments have been increasing.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as HZO has not reported any payouts.
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Management
How experienced are the management team and are they aligned to shareholders interests?
3.8yrs
Average management tenure
CEO
William McGill (54 yo)
4.83yrs
Tenure
US$3,971,985
Compensation
Mr. William Brett McGill is the Chief Executive Officer of MarineMax, Inc. since October 1, 2018 and has been its President since October 01, 2017 and Director since February 21, 2019. He was the Chief Ope...
CEO Compensation Analysis
Compensation vs Market: William's total compensation ($USD3.97M) is about average for companies of similar size in the US market ($USD3.83M).
Compensation vs Earnings: William's compensation has increased by more than 20% in the past year.
Leadership Team
Experienced Management: HZO's management team is considered experienced (3.8 years average tenure).
Board Members
Experienced Board: HZO's board of directors are considered experienced (7.7 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
MarineMax, Inc.'s employee growth, exchange listings and data sources
Key Information
- Name: MarineMax, Inc.
- Ticker: HZO
- Exchange: NYSE
- Founded: 1998
- Industry: Specialty Stores
- Sector: Retail
- Implied Market Cap: US$943.196m
- Shares outstanding: 21.53m
- Website: https://www.marinemax.com
Number of Employees
Location
- MarineMax, Inc.
- 2600 McCormick Drive
- Suite 200
- Clearwater
- Florida
- 33759
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/08/16 00:00 |
| End of Day Share Price | 2022/08/16 00:00 |
| Earnings | 2022/06/30 |
| Annual Earnings | 2021/09/30 |
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.