Marinemax (HZO) AI Stock Analysis

• Market Cap: $553.12M
• Dividend Yield: N/A
• Average Volume (3M): 360.48K
• Price to Earnings (P/E): 11.1
• Beta (1Y): 1.83
• Revenue Growth: -5.78%
• EPS Growth: -158.53%
• Country: US
• Employees: 4,050
• Sector: Consumer Cyclical
• Sector Strength: 75
• Industry: Specialty Retail
• EPS (TTM): 0.49
• Shares Outstanding: 21,463,564
• 10 Day Avg. Volume: 362,768
• 30 Day Avg. Volume: 360,480
• 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: 3.03
• Enterprise Value/Revenue: 0.72
• Enterprise Value/Gross Profit: 2.23
• Enterprise Value/Ebitda: 23.71
• 1Y Price Target: $27.50
• Price Target Upside: 8.40% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 46 Neutral
• Price Target: $24.50 ▼(-3.43% Downside)

MarineMax's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenue, negative profitability margins, and high leverage. Technical analysis indicates a bearish trend, further weighing on the score. Valuation concerns due to a negative P/E ratio and lack of dividend yield also contribute to the low score. Despite some positive aspects from the earnings call, such as cost-cutting and resilience in certain sectors, these are overshadowed by broader financial challenges.

Positive Factors

Earnings

HZO beat 2Q25 expectations, with the stock up nearly 10% at the open.

Financial Performance

Comps rose 11% - a positive surprise and a new quarterly record.

Gross Margins

Gross margins are staying above 30% as its SYD and non-traditional dealers’ services are increasingly integrated into its ecosystem.

Negative Factors

Guidance

HZO is reducing its guidance citing increased uncertainty from tariffs and shifts in retail trends.

Retail Environment

Disruptions from Hurricanes Helene and Milton compounded an already soft retail environment in a -11% same-store comp.

Stock Performance

The stock is down -37% YTD.

Marinemax Business Overview & Revenue Model

Company Description

MarineMax, Inc. (HZO) is a leading recreational boat and yacht retailer in the United States, specializing in the sale of new and used boats, yachts, and marine products. The company operates through a network of retail locations across the country and offers a wide range of services, including boat financing, insurance, and maintenance. MarineMax is known for its strong portfolio of premium brands, including Sea Ray, Boston Whaler, and Grady-White, catering to both recreational boaters and luxury yacht consumers.

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: Positive
• Last Price: 25.37
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 25.37 is above the 20-day moving average (MA) of 23.82, above the 50-day MA of 24.83, and below the 200-day MA of 25.85, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 56.07 is Neutral, neither overbought nor oversold. The STOCH value of 85.43 is Negative, 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
DKS	78 Outperform	$17.85B	15.92	40.22%	2.08%	3.33%	15.47%
MNSO	75 Outperform	$6.13B	17.80	24.98%	3.05%	9.80%	-6.33%
CHWY	72 Outperform	$16.17B	43.62	76.24%	―	7.64%	369.79%
ASO	72 Outperform	$3.64B	10.10	20.14%	0.88%	-3.57%	-17.43%
BBY	69 Neutral	$15.16B	17.53	30.21%	5.28%	-3.23%	-28.11%
Sector *	61 Neutral	$17.23B	11.51	-5.97%	3.09%	1.47%	-15.79%
HZO	46 Neutral	$553.12M	11.13	-2.81%	―	-5.78%	-158.53%

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.