Marinemax (HZO) AI Stock Analysis

• Market Cap: $520.93M
• Dividend Yield: N/A
• Average Volume (3M): 359.57K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.90
• Revenue Growth: -5.01%
• EPS Growth: -188.86%
• Country: US
• Employees: 4,050
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): -0.04
• Shares Outstanding: 21,869,518
• 10 Day Avg. Volume: 286,062
• 30 Day Avg. Volume: 359,569
• PEG Ratio: 0.10
• Price to Book (P/B): 0.60
• Price to Sales (P/S): 0.24
• P/FCF Ratio: 46.77
• Enterprise Value/Market Cap: 3.13
• Enterprise Value/Revenue: 0.70
• Enterprise Value/Gross Profit: 2.17
• Enterprise Value/Ebitda: 12.30
• 1Y Price Target: $30.00
• Price Target Upside: 28.92% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: $23.50 ▲(0.99% Upside)

MarineMax's overall stock score reflects significant financial challenges, including declining revenue and profitability, high leverage, and cash flow issues. While technical analysis and valuation are neutral to negative, recent corporate events and strategic initiatives provide some optimism for future growth. The mixed earnings call results further highlight the need for strategic adjustments to improve financial performance.

Positive Factors

Higher-Margin Business Growth

Growth in higher-margin segments supports profitability, providing a buffer against economic downturns and enhancing long-term financial stability.

Cost Management

Effective cost management through SG&A reductions improves operational efficiency, aiding in maintaining margins and supporting long-term financial health.

Marina Expansion

The expansion into new marina facilities enhances service offerings and revenue potential, strengthening market position and supporting future growth.

Negative Factors

Revenue Decline

Declining revenue and same-store sales indicate weakening demand, which could challenge the company's ability to sustain growth and profitability.

High Leverage

High leverage increases financial risk, potentially limiting the company's ability to invest in growth opportunities or weather economic downturns.

Negative Cash Flow

Negative free cash flow limits financial flexibility, impacting the company's ability to manage obligations and invest in strategic initiatives.

Marinemax Business Overview & Revenue Model

Company Description

MarineMax (HZO) is a leading retailer of recreational boats and yachts in the United States, operating in the marine retail sector. The company specializes in the sale of new and used boats, as well as offering related products and services, including boat financing, insurance, and marine accessories. MarineMax also provides boat service and maintenance, enhancing customer experience and fostering long-term relationships with boat owners.

How the Company Makes Money

MarineMax generates revenue primarily through the sale of boats, including popular brands such as Sea Ray, Boston Whaler, and Scout. The company earns significant income from the sale of marine accessories and related products, as well as from financing and insurance services for boat purchases. Additionally, MarineMax has a robust service department that provides maintenance and repair services, contributing to its recurring revenue streams. The company also benefits from partnerships with various manufacturers and finance companies, which enhance its product offerings and customer financing options.

Marinemax Financial Statement Overview

Summary

MarineMax is facing financial headwinds with declining revenue and profitability, high leverage, and cash flow challenges. The company needs to focus on improving operational efficiency, managing debt levels, and enhancing cash flow generation to stabilize its financial position and support future growth.

Income Statement

Marinemax's income statement shows a concerning trend with declining revenue and profitability. The revenue growth rate has turned negative, and the net profit margin has decreased significantly, resulting in a net loss for the latest period. The gross profit margin remains relatively stable, but the EBIT and EBITDA margins have also declined, indicating operational challenges. These factors suggest a need for strategic adjustments to improve financial performance.

Balance Sheet

The balance sheet reflects a moderate level of financial stability. The debt-to-equity ratio has improved slightly, indicating better leverage management, but remains relatively high. Return on equity has turned negative, reflecting the recent net loss. The equity ratio shows a reasonable level of equity financing, but overall, the balance sheet suggests a need for cautious financial management to mitigate risks associated with high leverage.

Cash Flow

Cash flow analysis reveals significant challenges, with a substantial decline in free cash flow growth and operating cash flow coverage. The operating cash flow to net income ratio is low, indicating inefficiencies in converting income to cash. While the free cash flow to net income ratio is positive, the overall cash flow situation suggests liquidity concerns that need to be addressed to ensure sustainable operations.

Breakdown	TTM	Dec 2025	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	2.32B	―	2.31B	2.43B	2.39B	2.31B
Gross Profit	751.98M	―	750.23M	801.20M	835.33M	805.75M
EBITDA	132.57M	―	83.34M	169.68M	244.21M	290.42M
Net Income	-26.78M	―	-31.63M	38.07M	109.28M	197.99M
Balance Sheet
Total Assets	2.49B	―	2.47B	2.61B	2.42B	1.35B
Cash, Cash Equivalents and Short-Term Investments	151.02M	―	170.35M	224.33M	201.46M	228.27M
Total Debt	1.27B	―	1.25B	1.23B	1.09B	279.56M
Total Liabilities	1.54B	―	1.52B	1.62B	1.50B	570.11M
Stockholders Equity	940.53M	―	937.19M	975.79M	915.84M	782.67M
Cash Flow
Free Cash Flow	-53.58M	―	11.94M	-86.08M	-287.64M	18.14M
Operating Cash Flow	10.57M	―	72.81M	-25.66M	-222.24M	76.59M
Investing Cash Flow	-58.59M	―	-55.62M	-81.35M	-576.37M	-140.45M
Financing Cash Flow	-44.72M	―	-71.98M	128.51M	770.40M	73.06M

Marinemax Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 23.27
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 23.27 is above the 20-day moving average (MA) of 23.27, below the 50-day MA of 24.68, and below the 200-day MA of 24.04, indicating a neutral trend. The MACD of -0.23 indicates Negative momentum. The RSI at 50.08 is Neutral, neither overbought nor oversold. The STOCH value of 55.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HZO.

Marinemax Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BBW	76 Outperform	$688.07M	11.75	41.18%	1.77%	6.16%	15.74%
BWMX	73 Outperform	$530.64M	10.13	79.76%	8.24%	-7.03%	1.04%
LQDT	72 Outperform	$920.11M	34.62	14.56%	―	31.20%	38.38%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ODP	58 Neutral	$836.34M	23.06	0.60%	―	-8.92%	―
BNED	50 Neutral	$301.38M	-0.16	―	―	1.38%	63.65%
HZO	49 Neutral	$520.93M	―	-3.31%	―	-5.01%	-188.86%

Marinemax Corporate Events

MarineMax Announces Leadership Transition for Global Yacht Sales

On October 9, 2025, MarineMax announced the transition of Charles A. Cashman from Chief Revenue Officer to Senior Vice President of Global Yacht Sales. This strategic leadership change aims to accelerate growth in the yacht and superyacht market, with Mr. Cashman focusing on sales strategy and execution. His extensive experience and leadership are expected to enhance MarineMax’s market presence and strengthen client relationships worldwide.

MarineMax Appoints Daniel Schiappa to Board

On September 25, 2025, MarineMax announced that Michael H. McLamb resigned from the Board of Directors but will continue as the company’s Chief Financial Officer. On the same day, Daniel Schiappa was appointed to the Board and the Audit Committee, bringing extensive experience in technology and cybersecurity to support MarineMax’s strategic digital initiatives. This change is part of the company’s ongoing board refreshment process, aimed at aligning the board’s expertise with its long-term strategic priorities. The appointment of Mr. Schiappa underscores MarineMax’s commitment to digital transformation in the recreational marine industry, with a focus on technology investments and expanding digital capabilities.