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HZO

MarineMax NYSE:HZO Stock Report

Last Price

US$40.60

Market Cap

US$874.2m

7D

-6.4%

1Y

-24.1%

Updated

22 May, 2022

Data

Company Financials +
HZO fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends0/6

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

Summary of all time highs, changes and price drops for MarineMax
Historical stock prices
Current Share PriceUS$40.60
52 Week HighUS$61.06
52 Week LowUS$35.60
Beta1.6
1 Month Change5.26%
3 Month Change-12.97%
1 Year Change-24.06%
3 Year Change152.49%
5 Year Change124.93%
Change since IPO223.17%

Recent News & Updates

May 17
Investors Should Be Encouraged By MarineMax's (NYSE:HZO) Returns On Capital

Investors Should Be Encouraged By MarineMax's (NYSE:HZO) Returns On Capital

What are the early trends we should look for to identify a stock that could multiply in value over the long term...

Apr 27

MarineMax: Providing An Update As Inflationary Forces Hinder Valuation

Since my last publication, MarineMax is down ~23%, yet the company continues to repurchase stock, and tailwinds remain in the boating industry. While I continue to remain optimistic about the company's top-line revenue outlook, inflationary pressures have only gained steam since my last publication. Management cited on their Q1-22 earnings call that margins could take a hit if inflation got worse, and that time is here. After modeling in slight compression in margins, my DCF calculated valuation of the stock is $58.22, showing the stock is 60% undervalued.

Shareholder Returns

HZOUS Specialty RetailUS Market
7D-6.4%-8.9%-2.7%
1Y-24.1%-28.3%-12.9%

Return vs Industry: HZO exceeded the US Specialty Retail industry which returned -28.3% over the past year.

Return vs Market: HZO underperformed the US Market which returned -12.9% over the past year.

Price Volatility

Is HZO's price volatile compared to industry and market?
HZO volatility
HZO Average Weekly Movement7.5%
Specialty Retail Industry Average Movement8.7%
Market Average Movement7.8%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market2.9%

Stable Share Price: HZO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: HZO's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19982,666William McGillhttps://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

How do MarineMax's earnings and revenue compare to its market cap?
HZO fundamental statistics
Market CapUS$874.19m
Earnings (TTM)US$181.89m
Revenue (TTM)US$2.21b

4.8x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HZO income statement (TTM)
RevenueUS$2.21b
Cost of RevenueUS$1.46b
Gross ProfitUS$751.74m
Other ExpensesUS$569.85m
EarningsUS$181.89m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)8.45
Gross Margin33.99%
Net Profit Margin8.23%
Debt/Equity Ratio16.0%

How did HZO perform over the long term?

See historical performance and comparison

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: HZO ($40.6) is trading below our estimate of fair value ($112.89)

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


Price To Earnings Ratio

PE vs Industry: HZO is good value based on its PE Ratio (4.8x) compared to the US Specialty Retail industry average (6.3x).

PE vs Market: HZO is good value based on its PE Ratio (4.8x) compared to the US market (15.2x).


Price to Earnings Growth Ratio

PEG Ratio: HZO is poor value based on its PEG Ratio (5.7x)


Price to Book Ratio

PB vs Industry: HZO is good value based on its PB Ratio (1.3x) compared to the US Specialty Retail industry average (1.7x).


Future Growth

How is MarineMax forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


0.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HZO's forecast earnings growth (0.8% per year) is below the savings rate (1.9%).

Earnings vs Market: HZO's earnings (0.8% per year) are forecast to grow slower than the US market (12.5% per year).

High Growth Earnings: HZO's earnings are forecast to grow, but not significantly.

Revenue vs Market: HZO's revenue (5.1% per year) is forecast to grow slower than the US market (7.8% per year).

High Growth Revenue: HZO's revenue (5.1% 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 (13.5%).


Past Performance

How has MarineMax performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


44.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: HZO has high quality earnings.

Growing Profit Margin: HZO's current net profit margins (8.2%) are higher than last year (6.7%).


Past Earnings Growth Analysis

Earnings Trend: HZO's earnings have grown significantly by 44.3% per year over the past 5 years.

Accelerating Growth: HZO's earnings growth over the past year (47.8%) exceeds its 5-year average (44.3% per year).

Earnings vs Industry: HZO earnings growth over the past year (47.8%) underperformed the Specialty Retail industry 75.3%.


Return on Equity

High ROE: HZO's Return on Equity (27%) is considered high.


Financial Health

How is MarineMax's financial position?

Financial Health Score

6/6

Financial 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 ($629.0M) exceed its short term liabilities ($369.9M).

Long Term Liabilities: HZO's short term assets ($629.0M) exceed its long term liabilities ($161.6M).


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 82.8% to 16% over the past 5 years.

Debt Coverage: HZO's debt is well covered by operating cash flow (292.4%).

Interest Coverage: HZO's interest payments on its debt are well covered by EBIT (94.5x coverage).


Balance Sheet


Dividend

What is MarineMax current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend 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.


Discover strong dividend paying companies

Management

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

3.5yrs

Average management tenure


CEO

William McGill (53 yo)

4.58yrs

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 ($USD3.97M) is about average for companies of similar size in the US market ($USD3.94M).

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 (3.5 years average tenure).


Board Members

Experienced Board: HZO's board of directors are considered experienced (7.4 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: HZO insiders have only sold shares 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$874.186m
  • 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/22 00:00
End of Day Share Price2022/05/20 00:00
Earnings2022/03/31
Annual Earnings2021/09/30


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.