Malibu Boats (MBUU) AI Stock Analysis

• Market Cap: $540.59M
• Dividend Yield: N/A
• Average Volume (3M): 255.69K
• Price to Earnings (P/E): 39.6
• Beta (1Y): 1.08
• Revenue Growth: 11.54%
• EPS Growth: N/A
• Country: US
• Employees: 2,250
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Recreational Vehicles
• EPS (TTM): -0.02
• Shares Outstanding: 18,602,524
• 10 Day Avg. Volume: 212,892
• 30 Day Avg. Volume: 255,690
• PEG Ratio: -0.32
• Price to Book (P/B): 1.20
• Price to Sales (P/S): 0.76
• P/FCF Ratio: 21.56
• Enterprise Value/Market Cap: 1.04
• Enterprise Value/Revenue: 0.68
• Enterprise Value/Gross Profit: 4.32
• Enterprise Value/Ebitda: 9.23
• 1Y Price Target: $33.33
• Price Target Upside: 14.69% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 1.19
• Revenue Forecast (FY): $786.99M

• Rating: 55 Neutral
• Price Target: $31.00 ▲(6.68% Upside)
• Action: Reiterated Date: 02/06/26
• Date: Action: Reiterated 02/06/26

The score is primarily supported by MBUU’s strong, low-leverage balance sheet and stabilized cash generation, but capped by materially compressed margins and soft revenue trends. Technicals are mixed-to-weak (below key short- and long-term averages), and valuation is a headwind given the high P/E and no dividend yield. Earnings call commentary reinforces the mixed setup: disciplined cost actions and buybacks, but near-term volume/profit pressure with modest tariff and promotional headwinds.

Positive Factors

Low Leverage Balance Sheet

Very low leverage and a sizable equity base provide durable financial flexibility. This reduces refinancing risk during cyclical downturns, supports continued R&D and product investment, funds buybacks or opportunistic M&A, and underpins capital allocation choices over the next several quarters.

Positive Free Cash Flow & Buybacks

Consistent positive free cash flow and an active buyback program signal that operations generate surplus cash even in soft demand. That sustained cash generation supports capital allocation flexibility, debt neutrality, and shareholder returns without sacrificing necessary investments in product development.

Product Leadership & New Models

Repeated product awards and a steady new-model cadence reinforce brand strength and pricing power in premium water-sports segments. Durable product differentiation helps protect ASPs, dealer relationships, and long-term share gains as new models and recognition sustain demand recovery over multiple selling seasons.

Negative Factors

Compressed Gross Margins

A multi-year drop in gross margin reflects higher per-unit costs and fixed-cost deleverage, constraining operating leverage. Persistently lower margins reduce reinvestment capacity, increase sensitivity to sales swings, and limit sustainable return on capital unless structural cost improvements occur.

Declining Unit Volumes & Sales

Sustained declines in units and revenue point to cyclical weakness and demand sensitivity in the core recreational market. Lower volume increases per-unit fixed-cost absorption, hampers scale benefits, and prolongs the recovery timeline for margins and returns absent a stable pickup in wholesale or retail demand.

Rising Costs, Tariffs & Promo Pressure

Structural cost headwinds—higher labor and materials, tariff exposure, and intense promotions—compress profitability even if volumes recover. These factors can persist for multiple quarters, forcing either margin recovery workstreams or sustained price increases that may weaken demand durability.

Malibu Boats Business Overview & Revenue Model

Company Description

Malibu Boats, Inc. engages in the design, engineering, manufacturing, marketing, and sale of a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands. Its products are used for a range of recreational boating activities, including water sports, such as water skiing, wakeboarding, and wake surfing, as well as general recreational boating and fishing. The company sells its products through independent dealers in North America, Europe, Asia, the Middle East, South America, South Africa, and Australia/New Zealand. Malibu Boats, Inc. was founded in 1982 and is headquartered in Loudon, Tennessee.

How the Company Makes Money

Malibu Boats generates revenue primarily through the sale of its boats, which includes both new and used models. The company also earns income from the sale of parts, accessories, and service for its boats, creating a recurring revenue stream. Additionally, Malibu Boats benefits from a robust dealer network that aids in distributing its products and providing customer support. The company has established strategic partnerships with various organizations and events in the water sports community, which further enhances brand visibility and drives sales. Seasonal demand patterns, driven by the popularity of water sports and recreational boating, also influence the company's overall revenue.

Malibu Boats Financial Statement Overview

Summary

Balance sheet strength is a key positive (very low leverage), and earnings/cash flow have stabilized back to positive after 2024 weakness. However, revenue remains soft and profitability is materially compressed versus 2022–2023 (thin net margins and sharply lower gross margin), limiting the financial performance score.

Income Statement

Profitability has materially compressed versus prior-cycle highs. Revenue has declined from 2023 levels and is slightly down again in TTM (Trailing-Twelve-Months), while margins have fallen sharply (gross margin ~16% in TTM vs ~25% in 2022–2023). The company returned to positive earnings in 2025 after a loss in 2024, but net margin remains thin (~2% in TTM/2025), leaving results more sensitive to demand and pricing shifts.

Balance Sheet

The balance sheet is a clear strength, with very low leverage (debt-to-equity ~0.04 in TTM and ~0.05 in 2025) and a sizable equity base. Returns on equity have recovered to low-single-digits in TTM/2025 after turning negative in 2024, but they are well below the strong levels seen in 2022–2023, reflecting weaker profitability rather than financial strain.

Cash Flow

Cash generation is positive, with operating cash flow and free cash flow both positive in TTM (Trailing-Twelve-Months) and 2025 following negative free cash flow in 2024. That said, free cash flow has declined versus prior years (down sharply in TTM), and cash conversion is moderate—free cash flow is roughly 50–60% of net income in the most recent periods—suggesting less cushion than during the 2022–2023 peak.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	819.06M	807.56M	829.03M	1.39B	1.21B	926.51M
Gross Profit	129.80M	144.09M	147.09M	351.30M	310.05M	236.49M
EBITDA	60.74M	60.74M	-22.95M	173.17M	240.15M	183.59M
Net Income	14.40M	14.88M	-55.91M	104.51M	157.63M	109.84M
Balance Sheet
Total Assets	715.71M	734.58M	739.62M	925.92M	851.33M	851.33M
Cash, Cash Equivalents and Short-Term Investments	28.21M	37.00M	26.95M	78.94M	83.74M	83.74M
Total Debt	29.86M	25.32M	2.18M	2.32M	121.74M	121.74M
Total Liabilities	216.44M	214.75M	204.91M	310.17M	337.76M	337.76M
Stockholders Equity	495.04M	515.46M	530.01M	607.88M	503.17M	503.17M
Cash Flow
Free Cash Flow	33.32M	28.59M	-20.40M	129.89M	109.78M	100.64M
Operating Cash Flow	55.68M	56.51M	55.56M	184.73M	164.85M	131.31M
Investing Cash Flow	-22.08M	-27.37M	-75.84M	-54.64M	-61.62M	-181.09M
Financing Cash Flow	-40.77M	-18.82M	-31.70M	-134.57M	-60.38M	57.35M

Malibu Boats Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 29.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MBUU, the sentiment is Negative. The current price of 29.06 is below the 20-day moving average (MA) of 31.43, below the 50-day MA of 31.22, and below the 200-day MA of 31.62, indicating a bearish trend. The MACD of -0.47 indicates Positive momentum. The RSI at 37.87 is Neutral, neither overbought nor oversold. The STOCH value of 16.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MBUU.

Malibu Boats Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WGO	72 Outperform	$1.13B	30.94	2.94%	3.42%	1.38%	―
MCFT	70 Outperform	$350.22M	22.96	7.40%	―	-12.17%	―
MPX	67 Neutral	$260.82M	23.78	10.00%	6.03%	-12.30%	-29.51%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
BC	58 Neutral	$5.16B	-37.97	-7.73%	2.27%	-4.78%	-189.89%
MBUU	55 Neutral	$540.59M	39.55	3.72%	―	11.54%	―
ONEW	47 Neutral	$189.14M	-1.69	-35.49%	―	5.62%	-1706.59%

Malibu Boats Corporate Events

Malibu Boats Appoints New CFO Amid Strategic Focus

On November 12, 2025, Malibu Boats, Inc. accepted the resignation of Bruce W. Beckman as Chief Financial Officer, effective immediately, and appointed David S. Black as his successor. Mr. Black, who has been with the company since 2017, brings extensive experience in accounting and finance, and his leadership is expected to drive financial performance and support the company’s strategic growth initiatives. The company reaffirmed its fiscal year 2026 guidance, anticipating net sales to be flat to down mid-single digits percentage points year-over-year, with an Adjusted EBITDA margin ranging from 8% to 9%.

The most recent analyst rating on (MBUU) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Malibu Boats stock, see the MBUU Stock Forecast page.