Marine Products Corp. (MPX)
NYSE:MPX
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Marine Products
(NYSE:MPX)
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Rating:67Neutral
Price Target:
$8.00
▼(-4.88% Downside)
Action:ReiteratedDate:02/06/26
The score is driven primarily by strong financial resilience (near zero debt, solid equity base, and positive free cash flow), supported by favorable corporate-event momentum from the announced acquisition. These positives are tempered by weak technical trend signals (below key moving averages with low RSI) and a relatively high P/E, partially offset by a high dividend yield.
Positive Factors
Very strong balance sheet
Near-zero leverage and a large equity base materially lower solvency risk and give management financial flexibility. This balance sheet supports dividends, M&A and capital expenditures through cycles, enabling the company to absorb industry downturns without immediate refinancing pressure.
Negative Factors
Sustained margin compression
Net margins have contracted meaningfully over recent years, reflecting weaker pricing power, higher costs, or reduced operating leverage. Persistently lower margins erode return on capital, reduce retained earnings for reinvestment, and weaken the firm’s buffer against cyclical downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong balance sheet
Near-zero leverage and a large equity base materially lower solvency risk and give management financial flexibility. This balance sheet supports dividends, M&A and capital expenditures through cycles, enabling the company to absorb industry downturns without immediate refinancing pressure.
Read all positive factors
Marine Products (MPX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$253.04M
Dividend Yield6.03%
Average Volume (3M)29.73K
Price to Earnings (P/E)26.9
Beta (1Y)0.55
Revenue Growth-12.30%
EPS Growth-29.51%
CountryUS
Employees617
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Recreational Vehicles
Share Statistics
EPS (TTM)0.10
Shares Outstanding35,242,622
10 Day Avg. Volume55,523
30 Day Avg. Volume29,726
Financial Highlights & Ratios
PEG Ratio-0.79
Price to Book (P/B)2.45
Price to Sales (P/S)1.25
P/FCF Ratio20.52
Enterprise Value/Market Cap0.83
Enterprise Value/Revenue0.86
Enterprise Value/Gross Profit4.48
Enterprise Value/Ebitda11.35
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.5
Revenue Forecast (FY)$275.20M
Marine Products Business Overview & Revenue Model
Company Description
Marine Products Corporation (MPX) is a leading manufacturer and distributor of high-quality recreational marine products, specializing in the production of boats, accessories, and parts for the boating industry. Operating primarily in North Americ...
How the Company Makes Money
MPX makes money primarily by manufacturing and selling new recreational boats to a network of independent dealers, which then retail the boats to end consumers. The company’s key revenue stream is boat sales across its brand portfolio (including C...
Marine Products Earnings Call Summary
Earnings Call Date:Jul 24, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a mixed performance with stable inventory management and financial position as positive aspects. However, there are challenges with declining sales, decreased EPS and EBITDA, and increased SG&A expenses. The company remains optimistic about future demand with new model introductions, but macroeconomic uncertainties remain a concern.Positive Updates
Positive Signs in Inventory Management
The company has successfully reduced field inventory by 11% year-over-year, indicating effective inventory management despite industry-wide retail sales declines.
Negative Updates
Decline in Sales and Units Sold
Second quarter sales decreased by 3% to $67.7 million, driven by a 13% decrease in the number of boats sold, despite a positive 10% net increase in price and mix.
Read all updates
Q2-2025 Updates
Positive
Negative
Positive Signs in Inventory Management
The company has successfully reduced field inventory by 11% year-over-year, indicating effective inventory management despite industry-wide retail sales declines.
Read all positive updates
Company Guidance
During the Marine Products Corporation's second quarter 2025 earnings call, management provided guidance highlighting several key metrics and strategic focuses. Sales for the quarter decreased by 3% to $67.7 million, driven by a 13% drop in boat sales, although this was partially offset by a 10% net increase in price and mix. Despite the sales decline, the gross profit margin improved to 19.1%, up 20 basis points from the previous year, thanks to better cost structure alignment and price increases. SG&A expenses rose by 9% to $8.1 million, leading to a slight increase in SG&A as a percentage of sales to 12%. The tax rate for the quarter was 21.3%, and diluted EPS decreased to $0.12. EBITDA fell to $5.6 million from $6.5 million the previous year. The company generated $9.2 million in operating cash flow and $8.6 million in free cash flow, with year-to-date dividends paid amounting to $9.8 million. The balance sheet remains strong with $50 million in cash and no debt. Looking forward, the company is cautiously optimistic about future demand, focusing on production efficiencies, managing channel inventory, and exploring acquisition opportunities to enhance its product portfolio.Marine Products Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
90
Very Positive
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 244.42M | 236.56M | 383.73M | 381.00M | 298.01M |
| Gross Profit | 46.77M | 45.50M | 90.38M | 93.72M | 68.27M |
| EBITDA | 18.90M | 20.91M | 49.58M | 53.70M | 38.21M |
| Net Income | 11.38M | 17.85M | 41.70M | 40.35M | 29.03M |
Balance Sheet | |||||
| Total Assets | 147.23M | 171.25M | 195.49M | 163.72M | 132.84M |
| Cash, Cash Equivalents and Short-Term Investments | 43.51M | 52.38M | 71.95M | 43.17M | 14.10M |
| Total Debt | 0.00 | 220.00K | 297.00K | 237.00K | 71.00K |
| Total Liabilities | 22.27M | 42.24M | 43.90M | 39.33M | 34.32M |
| Stockholders Equity | 124.97M | 129.00M | 151.59M | 124.38M | 98.53M |
Cash Flow | |||||
| Free Cash Flow | 14.92M | 24.93M | 46.67M | 46.85M | -791.00K |
| Operating Cash Flow | 16.46M | 29.53M | 56.85M | 49.35M | 457.00K |
| Investing Cash Flow | -4.68M | -4.43M | -7.87M | -2.50M | -1.25M |
| Financing Cash Flow | -20.65M | -44.67M | -20.19M | -17.78M | -16.68M |
Marine Products Technical Analysis
Negative
8.41
Price Trends
7.90
Negative
8.27
Negative
8.36
Negative
Market Momentum
-0.14
Negative
38.53
Neutral
32.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MPX, the sentiment is Negative. The current price of 8.41 is above the 20-day moving average (MA) of 7.19, above the 50-day MA of 7.90, and above the 200-day MA of 8.36, indicating a bearish trend. The MACD of -0.14 indicates Negative momentum. The RSI at 38.53 is Neutral, neither overbought nor oversold. The STOCH value of 32.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MPX.
Marine Products Risk Analysis
Marine Products disclosed 21 risk factors in its most recent earnings report. Marine Products reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Marine Products Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $327.55M | 31.53 | 8.43% | ― | -12.17% | ― | |
67 Neutral | $253.04M | 26.91 | 8.92% | 6.03% | -12.30% | -29.51% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | $455.39M | -54.76 | 3.72% | ― | 11.54% | ― | |
45 Neutral | $163.81M | -5.80 | -33.00% | ― | 5.62% | -1706.59% | |
42 Neutral | $2.04M | -0.31 | ― | ― | -66.16% | 78.81% | |
40 Underperform | $3.00M | -0.40 | -52.42% | ― | -34.70% | 36.13% |
* Consumer Cyclical Sector Average
MPX
Marine Products
7.18
-0.17
-2.33%
MBUU
Malibu Boats
24.48
-1.95
-7.38%
MCFT
MasterCraft Boat Holdings
20.30
4.93
32.08%
ONEW
OneWater Marine
9.86
-3.97
-28.71%
VMAR
Vision Marine Technologies
2.05
-189.95
-98.93%
VEEE
Twin Vee PowerCats
0.23
-2.12
-90.26%
Marine Products Corporate Events
Executive/Board ChangesDelistings and Listing ChangesM&A Transactions
Marine Products to be acquired by MasterCraft Boat Holdings
Positive
Feb 5, 2026
On February 5, 2026, Marine Products Corporation agreed to be acquired by MasterCraft Boat Holdings in a stock-and-cash transaction that will combine the two boat manufacturers under MasterCraft’s control. Marine Products shareholders are to...
Financial DisclosuresM&A Transactions
Marine Products to be acquired by MasterCraft Boat Holdings
Neutral
Feb 5, 2026
On February 5, 2026, Marine Products and MasterCraft Boat Holdings announced that they had signed a merger agreement under which MasterCraft will acquire Marine Products, a deal that is set to reshape ownership of the Chaparral and Robalo brands a...
Executive/Board ChangesDividends
Marine Products Declares Quarterly Dividend Amid Board Transition
Positive
Jan 28, 2026
On January 27, 2026, Marine Products Corporation director Jerry W. Nix notified the board that he will not stand for reelection at the company’s 2026 annual shareholders’ meeting, though he will continue to serve through that meeting i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.