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: 57 Neutral
• Price Target: $30.00 ▲(3.23% Upside)
• Action: Reiterated Date: 03/02/26
• Date: Action: Reiterated 03/02/26

MBUU scores as neutral: the strongest support comes from its low-leverage balance sheet and stabilized (positive) cash generation, but this is offset by materially compressed profitability, soft revenue/volume trends reflected in management’s cautious FY2026 outlook, and weak technical momentum. Valuation is also a headwind given the elevated P/E, partially balanced by shareholder-friendly actions and the strategically positive Saxdor acquisition.

Positive Factors

Balance sheet strength

Extremely low leverage gives Malibu durable financial flexibility to fund R&D, dealer support, and M&A while withstanding cyclical downturns. Low debt reduces refinancing risk and preserves capacity for strategic investments and shareholder returns over the next several quarters.

Positive cash generation & capital allocation

Return to positive free cash flow combined with active buybacks signals stronger internal funding of operations and capital allocation discipline. Steady FCF supports buybacks and reinvestment without increasing leverage, a durable tailwind for shareholder returns and balance-sheet resilience.

Strategic acquisition expands portfolio and reach

The Saxdor deal meaningfully expands Malibu's addressable market into adventure dayboats and adds an international dealer footprint and manufacturing capacity. The acquisition is structural—diversifying revenue sources, leveraging procurement scale and offering immediate margin and EPS accretion potential over 2–3 years.

Negative Factors

Material margin compression

A multi-point drop in gross margin materially reduces earnings power and makes operating results more sensitive to volume and cost swings. Restoring prior margins requires sustained price/mix improvement or structural cost reductions, which can take multiple quarters to realize.

Soft demand and volume decline

A near-10% unit decline and management's cautious FY26 sales outlook signal persistent demand headwinds. Continued volume weakness undermines fixed-cost absorption, slows inventory turnover, and limits the pace of margin recovery absent a sustained market stabilization or share gains.

Cost inflation, tariffs and promotional pressure

Rising per-unit labor/material costs, tariff exposure and a competitive promotional backdrop are structural margin headwinds. These pressures can persist through supply chains and competitive cycles, constraining margin improvement unless offset by pricing, mix shift, or sustainable sourcing gains.

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

Financial profile is mixed: a very strong, low-leverage balance sheet (debt-to-equity ~0.04–0.05) supports resilience, but operating performance has cooled materially with lower revenue versus 2023 and sharply compressed margins (TTM gross margin ~16% vs ~25% in 2022–2023). Cash flow has turned positive again (TTM/2025) but remains well below peak levels with only moderate cash conversion.

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	57 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 Acquires Saxdor Yachts to Expand Portfolio

On March 2, 2026, Malibu Boats acquired Saxdor Yachts, a fast-growing Finnish designer and manufacturer of premium adventure dayboats, for about €150 million ($175 million) in cash and stock, with up to €71–72 million ($84 million) in additional earnouts tied to performance through 2028. Saxdor, which has produced over 2,000 boats since 2019 and operates three facilities in Finland and Poland with more than 800 employees, will remain a distinct brand under Malibu while its founder, Sakari Mattila, continues in a creative leadership role.

The deal gives Malibu an immediate foothold in the fast-growing $2.5 billion adventure dayboat segment, adds a network of more than 100 dealers in over 50 countries, and is expected to be immediately accretive to adjusted EBITDA margins and earnings per share. Malibu expects to leverage procurement scale, vertical integration and expanded North American manufacturing utilization to drive further margin expansion, while keeping pro forma net leverage near 1.5x, preserving capacity for future investment and shareholder returns.

The most recent analyst rating on (MBUU) stock is a Hold with a $32.00 price target. To see the full list of analyst forecasts on Malibu Boats stock, see the MBUU Stock Forecast page.