Marinemax (HZO) AI Stock Analysis

• Market Cap: $558.05M
• Dividend Yield: N/A
• Average Volume (3M): 337.98K
• Price to Earnings (P/E): 11.1
• Beta (1Y): 1.84
• Revenue Growth: -5.78%
• EPS Growth: -158.53%
• Country: US
• Employees: 4,050
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): 0.49
• Shares Outstanding: 21,463,564
• 10 Day Avg. Volume: 460,318
• 30 Day Avg. Volume: 337,981
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 3.00
• Enterprise Value/Revenue: 0.72
• Enterprise Value/Gross Profit: 2.23
• Enterprise Value/Ebitda: 23.71
• 1Y Price Target: $28.67
• Price Target Upside: 9.39% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 47 Neutral
• Price Target: $25.00 ▼(-4.62% Downside)

MarineMax's overall stock score is primarily impacted by its weak financial performance, with declining revenue and negative profitability margins. The technical analysis provides some mixed signals, with short-term weakness but potential longer-term support. Valuation concerns are significant due to negative earnings and the lack of a dividend yield. The earnings call reflects ongoing challenges but also highlights some positive strategic initiatives and cost management efforts.

Positive Factors

Higher-Margin Business Growth

The growth in higher-margin businesses supports profitability and provides a buffer against revenue volatility in core boat sales, enhancing long-term financial stability.

Cost Management

Effective cost management through SG&A reductions improves operational efficiency, which can sustain margins and profitability even in challenging market conditions.

Marina Expansion

The expansion of marina facilities enhances service offerings and revenue diversification, supporting long-term growth and competitive positioning in the marine industry.

Negative Factors

Revenue Decline

Declining revenue and same-store sales indicate challenges in maintaining market demand, potentially impacting long-term growth and financial performance.

Gross Margin Pressure

Pressure on gross margins from low new boat margins and promotions could limit profitability, affecting the company's ability to reinvest in growth and innovation.

High Leverage

High leverage poses financial risks, potentially restricting the company's ability to invest in growth opportunities or weather economic downturns.

Marinemax Business Overview & Revenue Model

Company Description

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. It also offers marine parts and accessories comprising marine electronics; dock and anchoring products that include boat fenders, lines, and anchors; boat covers; trailer parts; water sport accessories, which comprise tubes, lines, wakeboards, and skis; engine parts; oils; lubricants; steering and control systems; corrosion control products and service products; high-performance accessories, including propellers and instruments; and a line of boating accessories, such as life jackets, inflatables, and water sports equipment. In addition, the company provides novelty items, such as shirts, caps, and license plates; marine engines and equipment; maintenance, repair, and slip and storage accommodation services; and boat or yacht brokerage services, as well as charters yachts and power catamarans. Further, it offers new or used boat finance services; arranges insurance coverage, including boat property, disability, undercoating, gel sealant, fabric protection, and casualty insurance coverage; and manufactures and sells sport yachts and yachts. Additionally, the company operates vacations in Tortola, British Virgin Islands. It also markets and sells its products through offsite locations and print catalog. The company has 79 retail locations in Alabama, California, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina, Texas, Washington, and Wisconsin. MarineMax, Inc. was incorporated in 1998 and is based in Clearwater, Florida.

How the Company Makes Money

MarineMax generates revenue primarily through the sale of new and used boats, which constitutes the bulk of its income. The company also earns significant revenue from parts and accessories sales, as well as from service and maintenance offerings provided at its retail locations. In addition, MarineMax has established partnerships with financing and insurance companies, allowing it to facilitate customer financing and insurance solutions, which further contributes to its earnings. Seasonal demand, customer loyalty programs, and a strong online presence also play crucial roles in enhancing the company's revenue streams.

Marinemax Financial Statement Overview

Summary

MarineMax is facing significant financial headwinds, with declining revenue and profitability margins turning negative. High leverage in the balance sheet raises concerns about the company's financial stability, especially with negative free cash flow and net income. While operating cash flow showed some improvement, overall financial health needs careful management to navigate potential risks and improve financial stability.

Income Statement

The company experienced a decline in revenue from the previous year, with a negative revenue growth rate of approximately -4.56% in the TTM. The gross profit margin stands at 32.41%, showing a decrease compared to previous years, while the net profit margin turned negative at -1.15%, indicating a concerning drop in profitability. EBIT and EBITDA margins also declined, reflecting challenges in operational efficiency and profitability.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 0.93, indicating significant leverage, which could pose a risk if revenue trends continue to decline. The equity ratio is at 37.80%, showing a moderate level of equity financing. Return on equity is negative at -2.85%, highlighting a loss in generating returns for shareholders in the TTM.

Cash Flow

Operating cash flow improved to $10.57 million in the TTM, but free cash flow remains negative at -$53.58 million. The free cash flow to net income ratio is concerning, as net income has turned negative. This poses potential liquidity challenges, impacting the company's flexibility in managing its financial commitments and investments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.32B	2.43B	2.39B	2.31B	2.06B	1.51B
Gross Profit	751.98M	801.20M	835.33M	805.75M	659.43M	398.71M
EBITDA	70.62M	172.71M	241.83M	284.62M	225.06M	119.49M
Net Income	-26.78M	38.07M	109.28M	197.99M	154.98M	74.63M
Balance Sheet
Total Assets	2.49B	2.61B	2.42B	1.35B	1.01B	775.32M
Cash, Cash Equivalents and Short-Term Investments	151.02M	224.33M	201.46M	228.27M	222.19M	155.49M
Total Debt	873.12M	1.23B	1.09B	279.56M	182.55M	192.06M
Total Liabilities	1.54B	1.62B	1.50B	570.11M	412.93M	319.92M
Stockholders Equity	940.53M	975.79M	915.84M	782.67M	594.89M	455.40M
Cash Flow
Free Cash Flow	-53.58M	-86.08M	-287.64M	18.14M	347.76M	291.87M
Operating Cash Flow	10.57M	-25.66M	-222.24M	76.59M	373.88M	304.68M
Investing Cash Flow	-58.59M	-81.35M	-576.37M	-140.45M	-161.13M	-30.11M
Financing Cash Flow	-44.72M	128.51M	770.40M	73.06M	-145.74M	-158.13M

Marinemax Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 26.21
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HZO, the sentiment is Neutral. The current price of 26.21 is above the 20-day moving average (MA) of 25.97, above the 50-day MA of 25.18, and above the 200-day MA of 25.18, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 49.60 is Neutral, neither overbought nor oversold. The STOCH value of 30.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HZO.

Marinemax Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DKS	82 Outperform	20.47B	15.72	34.98%	2.08%	2.70%	4.58%
MNSO	77 Outperform	6.91B	21.11	25.38%	2.77%	10.93%	-10.89%
ASO	73 Outperform	3.32B	8.95	17.87%	1.00%	-2.20%	-17.95%
BBY	71 Outperform	16.00B	20.45	28.65%	4.98%	-2.21%	-37.30%
CHWY	68 Neutral	16.45B	111.91	38.76%	―	9.04%	-56.79%
HZO	47 Neutral	$558.05M	11.13	-2.81%	―	-5.78%	-158.53%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Marinemax Corporate Events

MarineMax Appoints Odilon Almeida to Board

On August 4, 2025, Clint Moore and Evelyn Follit resigned from the MarineMax Board of Directors, and Odilon Almeida was appointed as a new independent director and member of the Audit Committee. Almeida brings over 40 years of international business expertise and will support MarineMax’s strategic growth initiatives. The board now consists of eight directors, six of whom are independent, reflecting a continued focus on strong corporate governance.

The most recent analyst rating on (HZO) stock is a Buy with a $44.00 price target. To see the full list of analyst forecasts on Marinemax stock, see the HZO Stock Forecast page.