Want to see HZO full AI Analyst Report?
Top Page
Marinemax
(NYSE:HZO)
Select Model
Select Model
Rating:53Neutral
Price Target:
$53.00
▲(45.88% Upside)
Action:Reiterated
Date:08/12/26
The score is held back primarily by weakened profitability versus prior years and elevated leverage despite the recent rebound in operating/free cash flow. Technically, the stock is in a strong uptrend but looks overbought, raising near-term volatility risk. Valuation is a notable negative given the extremely high P/E and no dividend yield, while the latest earnings call is moderately supportive due to reaffirmed guidance and operational improvements amid still-soft demand.
Positive Factors
Improved cash generation
A sustained rebound to strong operating cash flow (~$219M TTM) and robust free cash flow (~$178M TTM) materially increases the company’s ability to fund operations, invest in service initiatives, and cushion cyclical downturns. Durable cash generation supports debt service and strategic flexibility.
Negative Factors
Elevated leverage for a retailer
Debt levels materially above historical norms constrain financial flexibility for a discretionary retailer; higher leverage raises interest and refinancing exposure if demand softens. Even with equity on the balance sheet, negative recent returns and earnings weakness make deleveraging more difficult over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
A sustained rebound to strong operating cash flow (~$219M TTM) and robust free cash flow (~$178M TTM) materially increases the company’s ability to fund operations, invest in service initiatives, and cushion cyclical downturns. Durable cash generation supports debt service and strategic flexibility.
Read all positive factors
Marinemax Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Shows how much profit each business line (new and used boat sales, service & parts, marinas/storage, financing) generates after operating costs. For MarineMax, this reveals which segments deliver healthy margins and recurring cash flow versus those that are cyclical or margin-sensitive, helping investors judge sustainability and where management should prioritize resources.
Shows how much profit each business line (new and used boat sales, service & parts, marinas/storage, financing) generates after operating costs. For MarineMax, this reveals which segments deliver healthy margins and recurring cash flow versus those that are cyclical or margin-sensitive, helping investors judge sustainability and where management should prioritize resources.
Data provided by:
The Fly
The FlyMarinemax (HZO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.16B
Dividend YieldN/A
Average Volume (3M)335.88K
Price to Earnings (P/E)289.3
Beta (1Y)1.76
Revenue Growth-5.36%
EPS GrowthN/A
CountryUS
Employees3,385
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)0.18
Shares Outstanding22,086,746
10 Day Avg. Volume289,455
30 Day Avg. Volume335,883
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)0.60
Price to Sales (P/S)0.24
P/FCF Ratio46.77
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$44.20Price Target Upside21.66% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)0.71
Revenue Forecast (FY)$2.20B
Marinemax Business Overview & Revenue Model
Company Description
MarineMax, Inc. functions as a leading provider in the United States, focusing on the sale of leisure boats and luxury yachts, in addition to offering comprehensive superyacht services. Its operations are segmented into two core areas: Retail Oper...
How the Company Makes Money
MarineMax primarily makes money by selling recreational boats and yachts through its dealership network, generating revenue from both new and used boat sales. In addition to retail boat sales, the company earns revenue from higher-frequency, servi...
Marinemax Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call reflected a constructive operational and financial reset: strong margin expansion, improved profitability (adjusted EBITDA +44%, EPS turnaround), cash generation, inventory reductions and a completed debt refinancing that increases flexibility. These positives offset continued revenue softness (same-store sales -7%), an uneven demand outlook, and industry unit declines expected in the mid-single-digits. Management reaffirmed full-year adjusted EBITDA guidance and emphasized growth in higher-margin businesses and strategic initiatives (CPO program, NextBoat partnership). While challenges remain (promotional environment, margins still below pre-COVID levels, seasonality), the company’s improved profitability, balance sheet and strategic actions indicate improving resilience and a path to recovery.Positive Updates
Gross Margin Expansion
Gross margin increased 530 basis points year-over-year to 35.7%, driven by a premium product mix, disciplined inventory management and growing contribution from higher-margin businesses.
Negative Updates
Revenue and Same-Store Sales Decline
Third quarter revenue was $611 million and same-store sales declined 7% year-over-year, primarily driven by lower unit sales amid industry softness.
Read all updates
Q3-2026 Updates
Positive
Negative
Gross Margin Expansion
Gross margin increased 530 basis points year-over-year to 35.7%, driven by a premium product mix, disciplined inventory management and growing contribution from higher-margin businesses.
Read all positive updates
Company Guidance
MarineMax reaffirmed fiscal 2026 guidance calling for adjusted EBITDA of $110 million to $125 million and adjusted net income of roughly $0.40 to $0.95 per diluted share; management now expects industry unit volumes to finish the year down as much as the mid‑single‑digit range and same‑store sales for fiscal 2026 to be down and likely in that same ballpark, though July trends are running positive for same‑store sales so far. The company also expects a full‑year tax rate in the mid‑30s and a diluted share count of about 22.9 million, and noted the outlook excludes the impact of material acquisitions or other unexpected events.Marinemax Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
38
Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.20B | 2.31B | 2.43B | 2.39B | 2.31B | 2.06B |
| Gross Profit | 751.27M | 750.23M | 801.20M | 835.33M | 805.75M | 659.43M |
| EBITDA | 79.75M | 83.34M | 169.68M | 244.21M | 290.42M | 225.06M |
| Net Income | 3.98M | -31.63M | 38.07M | 109.28M | 197.99M | 154.98M |
Balance Sheet | ||||||
| Total Assets | 2.36B | 2.47B | 2.61B | 2.42B | 1.35B | 1.01B |
| Cash, Cash Equivalents and Short-Term Investments | 174.78M | 170.35M | 224.33M | 201.46M | 228.27M | 222.19M |
| Total Debt | 1.11B | 1.25B | 1.23B | 1.09B | 279.56M | 182.55M |
| Total Liabilities | 1.39B | 1.52B | 1.62B | 1.50B | 570.11M | 412.93M |
| Stockholders Equity | 952.49M | 937.19M | 975.79M | 915.84M | 782.67M | 594.89M |
Cash Flow | ||||||
| Free Cash Flow | 178.02M | 11.94M | -86.08M | -287.64M | 18.14M | 347.76M |
| Operating Cash Flow | 219.01M | 72.81M | -25.66M | -222.24M | 76.59M | 373.88M |
| Investing Cash Flow | -26.88M | -55.62M | -81.35M | -576.37M | -140.45M | -161.13M |
| Financing Cash Flow | -168.11M | -71.98M | 128.51M | 770.40M | 73.06M | -145.74M |
Marinemax Technical Analysis
Positive
36.33
Price Trends
35.53
Positive
32.71
Positive
29.47
Positive
Market Momentum
2.62
Negative
83.66
Negative
90.25
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HZO, the sentiment is Positive. The current price of 36.33 is below the 20-day moving average (MA) of 36.61, above the 50-day MA of 35.53, and above the 200-day MA of 29.47, indicating a bullish trend. The MACD of 2.62 indicates Negative momentum. The RSI at 83.66 is Negative, neither overbought nor oversold. The STOCH value of 90.25 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HZO.
Marinemax Risk Analysis
Marinemax disclosed 46 risk factors in its most recent earnings report. Marinemax reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Marinemax Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.31B | 40.67 | 15.18% | ― | 5.18% | 24.25% | |
66 Neutral | $461.88M | 8.66 | 35.60% | 2.67% | 3.26% | 2.53% | |
63 Neutral | $435.47M | 25.10 | 6.00% | 0.67% | 6.50% | ― | |
63 Neutral | $607.08M | 8.40 | 17.36% | 8.47% | 15.53% | 136.38% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
53 Neutral | $1.16B | 289.29 | 0.42% | ― | -5.36% | ― |
* Consumer Cyclical Sector Average
HZO
Marinemax
52.13
26.07
100.04%
BBW
BuildABear Workshop
36.98
-18.65
-33.53%
LQDT
Liquidity Services
43.11
16.96
64.86%
BNED
Barnes & Noble Education
12.05
3.24
36.71%
BWMX
Betterware de Mexico
16.35
4.12
33.70%
Marinemax Corporate Events
Delistings and Listing ChangesM&A Transactions
Marinemax to be acquired by Safe Harbor Marinas
Positive
Aug 10, 2026
On August 9, 2026, MarineMax, Inc. agreed to be acquired via a merger by SHM Holdco, LLC’s affiliate Safe Harbor Marinas, a Blackstone Infrastructure portfolio company, in an all-cash deal that values MarineMax at about $1.5 billion. The tra...
Business Operations and StrategyPrivate Placements and Financing
MarineMax Strengthens Liquidity with New Refinancing Package
Positive
Jun 30, 2026
On June 29, 2026, MarineMax, Inc. refinanced its existing $950 million floor plan credit facility with a new senior secured structure totaling approximately $1.49 billion, anchored by an amended and restated credit agreement led by MT Bank and Wel...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.