Tearsheet

MarineMax (HZO)

Market Price (12/4/2025): $23.67 | Market Cap: $509.3 Mil
Sector: Consumer Discretionary | Industry: Specialty Stores

MarineMax (HZO)

Market Price (12/4/2025): $23.67
Market Cap: $509.3 Mil
Sector: Consumer Discretionary
Industry: Specialty Stores

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Megatrend and thematic drivers Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Luxury Consumer Goods.	Weak multi-year price returns 2Y Excs Rtn is -72%, 3Y Excs Rtn is -99%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 208%
1		Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20%	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 51x
2			Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.8%, Rev Chg QQuarterly Revenue Change % is -13%
3			Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.3%
4			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.2%

0	Megatrend and thematic drivers Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Luxury Consumer Goods.
1	Weak multi-year price returns 2Y Excs Rtn is -72%, 3Y Excs Rtn is -99%
2	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20%
3	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 208%
4	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 51x
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.8%, Rev Chg QQuarterly Revenue Change % is -13%
6	Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2.3%
7	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.2%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$23.67	$28.95	$38.90	$31.22	$59.04
Market Cap CYE ($ Mil)	509.3	654.7	863.4	679.2	1,292.9
Total Debt ($ Mil)	1,273.8	1,233.0	1,093.9	279.6	182.6
Total Cash ($ Mil)	151.0	224.3	201.5	228.3	222.2
Enterprise Value ($ Mil)	1,632.0	1,887.7	1,957.3	958.8	1,475.5
Valuation Ratios
P/S TTM	0.2	0.3	0.3	0.3	0.6
P/EBIT TTM	11.5	5.0	4.2	2.6	6.2
P/E TTM	-20.2	16.9	7.8	3.4	8.4
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.8	1.4
P/EBIT TTM (Sector)	7.6	8.0	7.8	6.3	8.3
P/E TTM (Sector)	10.4	11.1	10.7	8.4	10.8

	12/4/25	2024	2023
Share Price CYE	$23.67	$28.95	$38.90
Market Cap CYE ($ Mil)	509.3	654.7	863.4
Total Debt ($ Mil)	1,273.8	1,233.0	1,093.9
Total Cash ($ Mil)	151.0	224.3	201.5
Enterprise Value ($ Mil)	1,632.0	1,887.7	1,957.3
Valuation Ratios
P/S TTM	0.2	0.3	0.3
P/EBIT TTM	11.5	5.0	4.2
P/E TTM	-20.2	16.9	7.8
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9
P/EBIT TTM (Sector)	7.6	8.0	7.8
P/E TTM (Sector)	10.4	11.1	10.7

	HZO	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	2.3
Rev Chg Q	-13.3%	7.1%
Rev Chg LTM	-5.8%	6.1%
Rev Chg 3Y Avg	1.4%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.0
Net Inc LTM ($ Bil)	-0.0
Op Mgn LTM	5.0%	18.8%
CFO/Rev LTM	0.5%	20.5%
Net Inc Mgn	-1.2%	13.1%
VALUATION	VERY LOW
P/S	0.2	3.2
P/CFO	51.2	15.8
P/FCF	-10.1	20.5
P/E	-20.2	23.5
STABILITY	POOR
Debt/Equity	2.35	0.20
Cash/Assets	0.06	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Same-Store Sales Growth	-9%	6302025	Link
Worldwide Locations	Over 120	11072025	Link
Retail Dealership Locations	Over 70	11072025	Link
Marinas and Storage Facilities	65	11072025	Link

Recent
11/13/2025	Earnings Release	Rev: $552 Mil (A) vs. $502 Mil (E) EPS: -0.04 (A) vs. $-0.15 (E)
Upcoming
1/22/2026	Earnings Release	Rev: $481 Mil (E) EPS: $-0.12 (E)

HZO Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

The stock movement for MarineMax (HZO) for the period between August 31, 2025, and December 4, 2025, cannot be factually determined as these dates are in the future. However, based on the most recent available information and general factors impacting the company, here are potential key points that could lead to a stock decline of approximately 10.2%:

1. Weak Retail Environment and Soft New Boat Sales: MarineMax has experienced a challenging retail environment, with new boat sales and pricing remaining under pressure. While the company's fiscal 2025 fourth quarter saw a 2.3% increase in same-store sales, this was driven by used boat revenue, finance and insurance, parts and service income, and superyacht services, offsetting lower new boat sales. Continued softness in the industry-wide retail environment for new boats could negatively impact revenue and profitability.

2. Disappointing Earnings or Guidance: Although MarineMax's Q4 2025 earnings reported on November 13, 2025, showed a reported and adjusted net loss per share of $0.04, which beat analyst estimates, the fiscal year 2025 full-year summary showed a reported net loss per share of $1.43. If future earnings reports or guidance for fiscal year 2026 (expected adjusted EPS range of $0.40 to $0.95) fall short of analyst expectations or indicate further deterioration in market conditions, it could lead to a significant stock drop.

3. Increased Promotional Activity and Margin Pressure: Persistent promotional activity to move inventory could continue to put pressure on new boat margins. This, coupled with increasing borrowing costs for the company's floor plan financing, could weigh on Adjusted EBITDA and overall profitability.

4. Economic Headwinds: General economic headwinds such as high interest rates, inflation, and evolving trade policies have been noted as factors weighing on the outlook for MarineMax. These macroeconomic factors can reduce consumer discretionary spending on big-ticket items like boats, impacting sales and profitability.

5. Inventory Levels and Balance Sheet Concerns: Despite some portfolio rationalization efforts and strategic store closures, if inventory levels remain elevated and the traditional selling season does not result in sufficient destocking, it could contribute to weaker guidance and raise concerns about the company's balance sheet, potentially leading to a decline in stock price.

Show less

Stock Movement Drivers

Fundamental Drivers

The -5.5% change in HZO stock from 9/3/2025 to 12/3/2025 was primarily driven by a -5.5% change in the company's P/S Multiple.

	9032025	12032025	Change
Stock Price ($)	25.05	23.66	-5.55%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2320.26	2320.26	0.00%
P/S Multiple	0.23	0.22	-5.55%
Shares Outstanding (Mil)	21.52	21.52	0.00%
Cumulative Contribution			-5.55%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
HZO	-5.5%
Market (SPY)	6.2%	45.6%
Sector (XLY)	3.5%	53.7%

Fundamental Drivers

The 8.2% change in HZO stock from 6/4/2025 to 12/3/2025 was primarily driven by a 7.4% change in the company's P/S Multiple.

	6042025	12032025	Change
Stock Price ($)	21.87	23.66	8.18%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2420.82	2320.26	-4.15%
P/S Multiple	0.20	0.22	7.38%
Shares Outstanding (Mil)	22.62	21.52	4.87%
Cumulative Contribution			7.93%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
HZO	8.2%
Market (SPY)	15.1%	39.7%
Sector (XLY)	11.5%	52.8%

Fundamental Drivers

The -27.1% change in HZO stock from 12/3/2024 to 12/3/2025 was primarily driven by a -26.4% change in the company's P/S Multiple.

	12032024	12032025	Change
Stock Price ($)	32.45	23.66	-27.09%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2431.01	2320.26	-4.56%
P/S Multiple	0.30	0.22	-26.37%
Shares Outstanding (Mil)	22.32	21.52	3.62%
Cumulative Contribution			-27.18%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
HZO	-27.1%
Market (SPY)	14.3%	52.8%
Sector (XLY)	7.4%	58.7%

Fundamental Drivers

The -28.4% change in HZO stock from 12/4/2022 to 12/3/2025 was primarily driven by a -28.8% change in the company's P/S Multiple.

	12042022	12032025	Change
Stock Price ($)	33.03	23.66	-28.37%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2308.10	2320.26	0.53%
P/S Multiple	0.31	0.22	-28.82%
Shares Outstanding (Mil)	21.54	21.52	0.11%
Cumulative Contribution			-28.37%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
HZO	-28.5%
Market (SPY)	53.2%	45.5%
Sector (XLY)	42.3%	51.6%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
HZO Return	110%	69%	-47%	25%	-26%	-19%	41%
Peers Return	11%	102%	-8%	28%	-10%	19%	180%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
HZO Win Rate	75%	67%	42%	58%	58%	30%
Peers Win Rate	67%	72%	50%	57%	47%	60%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
HZO Max Drawdown	-53%	-1%	-53%	-15%	-37%	-39%
Peers Max Drawdown	-52%	-2%	-40%	-21%	-33%	-36%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: DKS, FIVE, SIG, SBH, ASO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	HZO	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-60.1%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	150.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-64.0%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	178.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	72 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-46.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	87.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	365 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-95.4%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	2079.0%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	2156 days	1480 days

Compare to DKS, FIVE, SIG, SBH, ASO

In The Past

MarineMax's stock fell -60.1% during the 2022 Inflation Shock from a high on 5/10/2021. A -60.1% loss requires a 150.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About MarineMax (HZO)

MarineMax, Inc. operates as a recreational boat and yacht retailer and superyacht services company in the United States. It operates through two segments, Retail Operations and Product Manufacturing. The company sells new and used recreational boats, including pleasure and fishing boats, mega-yachts, yachts, sport cruisers, motor yachts, pontoon boats, ski boats, jet boats, and other recreational boats. It also offers marine parts and accessories comprising marine electronics; dock and anchoring products that include boat fenders, lines, and anchors; boat covers; trailer parts; water sport accessories, which comprise tubes, lines, wakeboards, and skis; engine parts; oils; lubricants; steering and control systems; corrosion control products and service products; high-performance accessories, including propellers and instruments; and a line of boating accessories, such as life jackets, inflatables, and water sports equipment. In addition, the company provides novelty items, such as shirts, caps, and license plates; marine engines and equipment; maintenance, repair, and slip and storage accommodation services; and boat or yacht brokerage services, as well as charters yachts and power catamarans. Further, it offers new or used boat finance services; arranges insurance coverage, including boat property, disability, undercoating, gel sealant, fabric protection, and casualty insurance coverage; and manufactures and sells sport yachts and yachts. Additionally, the company operates vacations in Tortola, British Virgin Islands. It also markets and sells its products through offsite locations and print catalog. The company has 79 retail locations in Alabama, California, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina, Texas, Washington, and Wisconsin. MarineMax, Inc. was incorporated in 1998 and is based in Clearwater, Florida.

AI Generated Analysis | Feedback

Camping World for boats.

CarMax or AutoNation for boats.

AI Generated Analysis | Feedback

New and Used Boat & Yacht Sales: Sale of recreational boats and yachts from leading manufacturers, including new and pre-owned inventory.
Marine Parts & Accessories: Retail of a wide array of marine parts, electronics, watersports equipment, and boating lifestyle accessories.
Boat Service & Repair: Comprehensive maintenance, repair, customization, and warranty services for boats and yachts.
Finance & Insurance: Facilitation of financing options and sale of insurance products to assist customers with boat purchases.
Storage & Mooring: Provision of storage solutions, including dry stack storage, wet slips, and valet services for boats.
Boat Clubs & Charters: Operation of boat clubs offering access to a fleet, and provision of yacht charter services for experiences.

AI Generated Analysis | Feedback

```html

MarineMax (symbol: HZO) is a leading recreational boat and yacht retailer, primarily serving individual customers rather than other businesses.

The company caters to a diverse range of boaters and yacht owners. Here are three categories of customers MarineMax serves:

Entry-Level and Family Boaters: This category includes individuals and families who are often first-time boat owners or those seeking smaller to mid-sized recreational boats for general leisure, day cruising, watersports, or fishing. These customers typically prioritize ease of use, family-friendly features, versatility, and affordability. They may be looking for brands like Sea Ray, Boston Whaler (smaller models), or similar recreational lines.
Experienced and Avid Boaters/Anglers: This segment comprises customers with prior boating experience who are looking to upgrade, specialize, or expand their fleet. They might be seeking higher-performance boats, dedicated fishing vessels (e.g., offshore center consoles), or more advanced recreational cruisers. These customers often have specific brand preferences, feature requirements, and a deeper understanding of boating needs and capabilities.
Luxury Yacht Owners and High-Net-Worth Individuals: This premium category consists of affluent individuals and families interested in purchasing larger yachts and superyachts. They are seeking high-end brands, luxury amenities, extended cruising capabilities, and often require bespoke services, financing, and maintenance for their significant investments. MarineMax's portfolio includes luxury yacht brands such as Azimut, Galeon, Ocean Alexander, and larger models from their other brands, catering to this sophisticated market segment.

```

AI Generated Analysis | Feedback

Brunswick Corporation (BC)
MasterCraft Boat Holdings, Inc. (MCFT)

AI Generated Analysis | Feedback

William Brett McGill, Chief Executive Officer and President

W. Brett McGill has served as Chief Executive Officer and President of MarineMax since October 2018. He has over 30 years of experience in the retail marine industry, beginning his career at MarineMax in 1998 as Director of Information Services. He held various roles including Vice President of Information Technology, Service and Parts, Regional President, Vice President of West Operations, and Executive Vice President of Operations, before being named President and Chief Operating Officer in 2017 and then CEO and President in 2018. Prior to joining MarineMax (or its predecessor, Gulfwind Marine, in 1996), he began his professional career with a software development firm, Integrated Dealer Systems. His father, William H. McGill Jr., co-founded MarineMax in 1998, building upon his earlier boat dealership, Gulfwind Marine, which he started in 1973. Under Brett McGill's leadership, MarineMax has completed numerous strategic acquisitions, including IGY Marinas, Fraser, Northrop & Johnson, Cruisers Yachts, and Intrepid Powerboats.

Michael H. McLamb, Executive Vice President, Chief Financial Officer, and Secretary

Michael H. McLamb has served as Executive Vice President of MarineMax since October 2002, as Chief Financial Officer since January 1998, and as Secretary since April 1998. He previously held the role of Vice President and Treasurer from 1998 to 2002. A certified public accountant, Mr. McLamb was employed by Arthur Andersen LLP from December 1987 to December 1997, where he most recently served as a senior manager. He recently stepped down from MarineMax's Board of Directors but continues in his executive roles.

Charles A. Cashman, Senior Vice President of Global Yacht Sales

Charles A. Cashman transitioned to the role of Senior Vice President of Global Yacht Sales in October 2025, after previously serving as Executive Vice President and Chief Revenue Officer. He has been with MarineMax since 1992, holding various leadership positions including Vice President of East Operations and Executive Vice President of Sales, Marketing and Manufacturer Relations, before becoming Chief Revenue Officer in 2016. Mr. Cashman also serves on the Board of Directors of the International Yacht Brokers Association.

Anthony E. Cassella, Jr., Executive Vice President Finance and Chief Accounting Officer

Anthony E. Cassella, Jr. was appointed Executive Vice President Finance and Chief Accounting Officer in February 2023. He has served as Vice President of MarineMax since February 2016 and as Chief Accounting Officer since October 2014, at which time he was appointed an Executive Officer. His tenure at the company also includes roles as Vice President of Accounting and Shared Services from 2011 to 2014, Director of Shared Services from 2007 to 2011, and Regional Controller from 1999 to 2007.

Kyle G. Langbehn, Executive Vice President, President of Retail Operations

Kyle G. Langbehn has served as President of Retail Operations since July 2020, overseeing MarineMax's retail operations. He was appointed as an executive officer in October 2022 and previously served as Vice President of Operations starting in October 2018. Since joining MarineMax in 2002, Mr. Langbehn has advanced through numerous positions of increasing responsibility, including Sales Consultant, Sales Manager, General Sales Manager, General Manager, and Regional President. He holds an MBA from George Washington University and is a graduate of the United States Naval Academy.

AI Generated Analysis | Feedback

null

AI Generated Analysis | Feedback

MarineMax (HZO) operates in several segments of the marine industry, with its primary products and services including recreational boat and yacht sales, marine maintenance and repair services, and the sale of parts and accessories. The addressable markets for these offerings are detailed below:

Recreational Boat and Yacht Sales

Global Market: The global recreational boats market size was valued at approximately USD 29.19 billion in 2024 and is projected to reach USD 43.13 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 5.00% during the forecast period of 2025 to 2032.
U.S. Market: The U.S. recreational boat market was valued at approximately USD 19.6 billion in 2023. Additionally, the U.S. recreational boat market was valued at USD 17.31 billion in 2022 and is projected to reach USD 28.54 billion by 2028, growing at a CAGR of 8.69%.
Global Yacht Market: The global yacht market size was estimated at USD 9.39 billion in 2023 and is expected to reach USD 9.85 billion in 2024. Another estimate places the global yacht market size at USD 12.71 billion in 2024, with an expectation to grow at a CAGR of 6.58% from 2025 to 2032, reaching nearly USD 21.16 billion.

Marine Maintenance, Repair, and Overhaul (MRO) Services

Global Boat Repairing Market: The global boat repairing market size was approximately USD 7.64 billion in 2024 and is expected to grow to USD 8.11 billion in 2025 at a CAGR of 6.2%, further projected to reach USD 11.6 billion in 2029 at a CAGR of 9.4%.
Global Yacht Maintenance and Refit Market: This market is estimated to be valued at USD 2.9 billion in 2025 and is projected to reach USD 6.3 billion by 2035, registering a CAGR of 8.0% over the forecast period.
North America Boat and Ship MRO Market: The North America Boat and Ship Maintenance, Repair, and Overhaul (MRO) market is valued at USD 10.7 billion.

Recreational Boat Parts and Accessories

Global Market: The global Recreational Boat Parts and Accessories Market size is predicted to grow from USD 15.84 billion in 2024 to USD 22.56 billion by 2034, reflecting a CAGR of over 3.6% from 2025 through 2034.
North America Market: North America holds the largest share of the recreational boat parts and accessories market, accounting for approximately 38.2% of the global market in 2024. Based on the global market size of USD 15.84 billion in 2024, this would equate to approximately USD 6.05 billion for North America.

AI Generated Analysis | Feedback

MarineMax (HZO) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives:

Expansion of Higher-Margin Businesses: MarineMax is actively diversifying its revenue streams by expanding into higher-margin segments, including marinas, superyacht services, and finance and insurance. This strategy aims to mitigate the cyclical nature of new boat sales and enhance overall gross margins. Key examples include the growth of its IGY Marinas portfolio, with new locations such as IGY Savannah Harbor Marina and the upcoming Wynn Al Marjan Island Marina in the United Arab Emirates, along with contributions from Fraser Yachts Group and Northrop & Johnson in superyacht services.
Strategic Acquisitions: The company has a history of strategic acquisitions to broaden its market presence and diversify its business lines. These acquisitions play a role in expanding MarineMax's leadership across various segments of the marine industry.
Product Innovations and Focus on Premium Brands: MarineMax consistently introduces new boat models and features designed to meet evolving consumer preferences. The company's focus on premium brands, including its manufacturing segment with Cruisers Yachts and Intrepid Powerboats, helps maintain a competitive edge and caters to a discerning customer base.
Geographic Market Expansion: Strategic growth into new domestic and international geographic markets is anticipated to broaden MarineMax's customer base. The expansion of its marina operations, such as the new IGY Marinas locations, exemplifies this driver.
Digital Growth Initiatives and Enhanced Customer Experience: MarineMax is investing in digital technology products like Boatyard and Boatzon to connect boaters with a network of marinas, dealers, and marine professionals. These digital initiatives are aimed at simplifying the customer experience, enhancing customer engagement, and improving operational efficiencies, which can contribute to revenue growth.

AI Generated Analysis | Feedback

Share Repurchases

In March 2024, MarineMax's Board of Directors approved a new stock repurchase plan, authorizing the company to repurchase up to $100 million of its common stock through March 31, 2026.
This new plan replaced a March 2020 authorization, under which approximately 1,080,000 shares had been repurchased as of March 5, 2024.
The repurchases are intended to mitigate the dilutive effect of restricted stock and serve other general corporate purposes.

Outbound Investments

MarineMax acquired IGY Marinas in 2022 for $480 million plus potential earnouts, significantly expanding its global marina ownership and management operations.
In November 2021, the company completed the acquisition of Intrepid Powerboats, a premier manufacturer of powerboats, which had generated over $60 million in revenue in the preceding twelve months.
The company acquired SkipperBud's and its affiliate, Silver Seas Yachts, in October 2020, adding 20 locations and 11 marina and storage facilities; SkipperBud's had fiscal 2019 revenue of $220 million.

Capital Expenditures

MarineMax reported capital expenditures of -$26 million in a recent trailing twelve-month period, with historical figures including -$13 million, -$17 million, and -$14 million in various fiscal years up to 2024.
The company is investing in digital tools and online platforms to enhance the customer experience, streamline sales processes, and improve boat management services.
In June 2025, MarineMax opened a new premium 100-boat marina in Stuart, Florida, which was the first new marina development project completed using its acquired marine construction company, Midcoast Marine Group.

Better Bets than MarineMax (HZO)

	HZO	Better Performance than HZO
Metric	Value	INDUSTRY: Specialty Stores
Rev Chg LTM	-5.8%	FIVE (13.9%), EYE (6.3%), DKS (2.7%), SIG (-1.6%), ASO (-2.2%)
Rev Chg 3Y Avg	1.4%	FIVE (13.3%), DKS (5.0%)
Op Mgn LTM	5.0%	DKS (11.3%), SBH (8.9%), FIVE (8.3%), ASO (8.2%), SIG (7.9%)
CFO/Rev LTM	0.5%	FIVE (13.2%), DKS (10.3%), SIG (9.1%), EYE (8.5%), ASO (7.9%)
FCF/Rev LTM	-2.3%	FIVE (8.2%), SIG (6.7%), EYE (4.3%), ASO (4.0%), DKS (3.4%)
Total Yield	-5.0%	ASO (13.3%), DKS (8.1%), SIG (5.6%), FIVE (3.8%), EYE (-0.1%)
P/S	0.2
P/Op Inc	4.7	SBH (2.8)

	HZO	Better Performance than HZO
Metric	Value	SECTOR: Consumer Discretionary
Rev Chg LTM	-5.8%	AMZN (10.9%), HD (8.5%), TJX (4.1%), MCD (1.2%), TSLA (-1.6%)
Rev Chg 3Y Avg	1.4%	AMZN (11.3%), TSLA (9.3%), TJX (5.3%), MCD (4.2%), HD (2.2%)
Op Mgn LTM	5.0%	MCD (46.1%), HD (13.1%), AMZN (11.4%), TJX (11.2%), TSLA (5.1%)
CFO/Rev LTM	0.5%	MCD (39.9%), AMZN (18.1%), TSLA (16.5%), HD (10.8%), TJX (10.2%)
FCF/Rev LTM	-2.3%	MCD (28.1%), HD (8.6%), TSLA (7.1%), TJX (7.0%), AMZN (2.0%)
Total Yield	-5.0%	HD (6.5%), MCD (6.2%), TJX (4.9%), AMZN (3.0%), TSLA (0.4%)
P/S	0.2	KSS (0.1), GT (0.1), M (0.1), LAD (0.2), LEA (0.2)
P/Op Inc	4.7	KSS (1.8), CZR (2.7), GT (3.4), M (3.7), CROX (4.6)

	HZO	Better Performance than HZO
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	-5.8%	NVDA (71.6%), AVGO (28.0%), MSFT (15.6%), GOOGL (13.4%), AAPL (6.0%)
Rev Chg 3Y Avg	1.4%	NVDA (92.0%), AVGO (24.0%), MSFT (13.2%), GOOGL (11.0%), AAPL (1.8%)
Op Mgn LTM	5.0%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), GOOGL (32.2%), AAPL (31.9%)
CFO/Rev LTM	0.5%	MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), GOOGL (39.3%), AAPL (26.6%)
FCF/Rev LTM	-2.3%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	-5.0%	GOOGL (4.6%), MSFT (3.4%), AAPL (3.0%), NVDA (2.3%), AVGO (1.5%)
P/S	0.2	CNC (0.1), ACI (0.1), CAH (0.2), COR (0.2), SNX (0.2)
P/Op Inc	4.7	CHTR (2.8), IBKR (3.6), RCI (3.8), BCE (4.0), EIX (4.1)

		Best Bets In Consumer Discretionary Sector
	HZO
What You Pay
P/E	-20.2
P/EBIT	11.5
What You Get
Rev Chg Q	-13.3%
Rev Chg LTM	-5.8%
Rev Chg 3Y Avg	1.4%
FCF/Rev 3Y Avg	-6.7%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Would You Still Hold MarineMax Stock If It Fell Another 30%?	Return
2	Why MarineMax Stock Moved: HZO Stock Has Lost 60% Since 2021 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
3	MarineMax (HZO) Valuation Ratios Comparison	Financials
4	MarineMax Total Shareholder Return (TSR): 7.5% in 2024 and -10.1% 3-yr compounded annual returns (below peer average)
5	MarineMax (HZO) Operating Cash Flow Comparison	Financials
6	MarineMax (HZO) Net Income Comparison	Financials
7	MarineMax (HZO) Operating Income Comparison	Financials
8	MarineMax (HZO) Revenue Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to HZO. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	6.8%	6.8%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.5%	0.5%	0.0%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-2.6%	-2.6%	-2.6%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.7%	3.7%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	1.3%	1.3%	-1.6%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	6.8%	6.8%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	0.5%	0.5%	0.0%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-2.6%	-2.6%	-2.6%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.7%	3.7%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	1.3%	1.3%	-1.6%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for MarineMax

Peers to compare with:

Financials

	HZO	DKS	FIVE	SIG	SBH	ASO	Median
Name	MarineMax	Dick's S.	Five Bel.	Signet J.	Sally Be.	Academy .
Mkt Price	23.66	227.94	163.15	89.02	15.39	49.98	69.50
Mkt Cap	0.5	18.0	9.0	3.7	1.5	3.3	3.5
Rev LTM	2,320	13,772	4,232	6,779	3,689	5,971	5,102
Op Inc LTM	116	1,553	349	536	330	488	419
FCF LTM	-54	465	345	454	168	239	292
FCF 3Y Avg	-157	761	181	514	158	339	260
CFO LTM	11	1,421	559	616	265	473	516
CFO 3Y Avg	-94	1,465	475	654	252	531	503

Growth & Margins

	HZO	DKS	FIVE	SIG	SBH	ASO	Median
Name	MarineMax	Dick's S.	Five Bel.	Signet J.	Sally Be.	Academy .
Rev Chg LTM	-5.8%	2.7%	13.9%	-1.6%	-0.4%	-2.2%	-1.0%
Rev Chg 3Y Avg	1.4%	5.0%	13.3%	-5.1%	-1.4%	-3.1%	0.0%
Rev Chg Q	-13.3%	5.0%	23.7%	3.0%	-1.0%	3.3%	3.1%
QoQ Delta Rev Chg LTM	-4.2%	1.3%	4.9%	0.7%	-0.2%	0.9%	0.8%
Op Mgn LTM	5.0%	11.3%	8.3%	7.9%	8.9%	8.2%	8.2%
Op Mgn 3Y Avg	6.6%	11.0%	9.6%	8.2%	8.4%	10.1%	9.0%
QoQ Delta Op Mgn LTM	-1.2%	-0.2%	-0.1%	0.2%	0.2%	-0.4%	-0.2%
CFO/Rev LTM	0.5%	10.3%	13.2%	9.1%	7.2%	7.9%	8.5%
CFO/Rev 3Y Avg	-4.0%	11.1%	12.7%	9.3%	6.8%	8.7%	9.0%
FCF/Rev LTM	-2.3%	3.4%	8.2%	6.7%	4.6%	4.0%	4.3%
FCF/Rev 3Y Avg	-6.7%	5.8%	4.7%	7.3%	4.2%	5.5%	5.1%

Valuation

	HZO	DKS	FIVE	SIG	SBH	ASO	Median
Name	MarineMax	Dick's S.	Five Bel.	Signet J.	Sally Be.	Academy .
Mkt Cap	0.5	18.0	9.0	3.7	1.5	3.3	3.5
P/S	0.2	1.1	1.7	0.5	0.3	0.5	0.5
P/EBIT	11.5	9.7	20.7	7.2	2.8	5.8	8.5
P/E	-20.2	13.3	26.5	24.8	4.8	8.0	10.7
P/CFO	51.2	11.0	12.9	5.3	3.5	6.3	8.7
Total Yield	-5.0%	8.1%	3.8%	5.6%	20.9%	13.3%	6.9%
Dividend Yield	0.0%	0.6%	0.0%	1.6%	0.0%	0.8%	0.3%
FCF Yield 3Y Avg	-22.1%	5.6%	2.2%	15.3%	14.5%	9.2%	7.4%
D/E	2.4	0.3	0.3	0.4	1.6	0.6	0.5
Net D/E	2.1	0.2	0.2	0.3	1.5	0.5	0.4

Returns

	HZO	DKS	FIVE	SIG	SBH	ASO	Median
Name	MarineMax	Dick's S.	Five Bel.	Signet J.	Sally Be.	Academy .
1M Rtn	-4.0%	4.7%	3.0%	-9.1%	7.8%	6.0%	3.8%
3M Rtn	-5.5%	9.0%	8.1%	0.7%	9.0%	0.7%	4.4%
6M Rtn	8.2%	30.6%	34.6%	20.5%	68.9%	17.4%	25.5%
12M Rtn	-27.1%	11.3%	58.1%	-7.9%	12.3%	1.1%	6.2%
3Y Rtn	-28.4%	105.6%	-11.4%	50.9%	35.5%	2.5%	19.0%
1M Excs Rtn	-3.9%	4.7%	3.0%	-9.0%	7.8%	6.0%	3.8%
3M Excs Rtn	-14.7%	-2.1%	1.4%	-6.7%	3.6%	-5.2%	-3.7%
6M Excs Rtn	-6.5%	15.8%	19.8%	5.8%	54.2%	2.7%	10.8%
12M Excs Rtn	-44.6%	-1.0%	62.4%	-23.2%	-3.1%	-11.0%	-7.1%
3Y Excs Rtn	-98.6%	33.2%	-71.4%	-24.9%	-43.7%	-72.3%	-57.5%

Financials

Annual
Quarterly

$ Mil \| FY: 9/30	LTM	2024	2023	2022	2021	2020	2019
Period End	6/30/2025	9/30/2024	9/30/2023	9/30/2022	9/30/2021	9/30/2020	9/30/2019
Filing Date	7/24/2025	11/14/2024	11/17/2023	11/18/2022	11/19/2021	12/2/2020	12/3/2019
Key Financials
Total Revenue	2,320	2,431	2,395	2,308	2,063	1,510	1,237
EBITDA	95	173	242	285	225	119	72
Operating Income	116	128	201	265	209	107	61
Net Income	-27	38	109	198	155	75	36
EPS	-1.29	1.71	5.00	9.12	7.04	3.46	1.61
Growth Rates
Total Revenue Growth	-5.8%	1.5%	3.8%	11.9%	36.7%	22.0%	5.1%
EBITDA Growth	-48.1%	-28.6%	-15.0%	26.5%	88.4%	65.7%	-2.3%
Operating Income Growth	-14.5%	-36.1%	-24.3%	26.6%	96.3%	76.3%	-4.2%
Net Income Growth	-154.4%	-65.2%	-44.8%	27.8%	107.7%	107.4%	-8.5%
Margins
EBITDA Margin	4.1%	7.1%	10.1%	12.3%	10.9%	7.9%	5.8%
Operating Income Margin	5.0%	5.3%	8.4%	11.5%	10.2%	7.1%	4.9%
Net Income Margin	-1.2%	1.6%	4.6%	8.6%	7.5%	4.9%	2.9%
Cash & Debt
Total Cash	151	224	201	228	222	155	39
Total Debt	1,274	1,233	1,094	280	183	193	312
Net Debt / (Cash)	1,123	1,009	892	51	-40	37	274
Cash Flows
Net Cash from Operations	11	-26	-222	77	374	305	-12
Free Cash from Operations	-54	-86	-288	18	348	292	-29
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	15	2	-0	21	24	1	28

$ Mil \| FY: 9/30	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	7/24/2025	4/24/2025	1/23/2025	11/14/2024	7/25/2024	4/25/2024	1/25/2024	11/17/2023	7/27/2023	4/27/2023	1/31/2023	11/18/2022
Key Financials Quarterly
Total Revenue	657	632	468	563	758	583	527	595	722	570	508	537
Ebitda	-29	35	51	38	72	32	30	48	84	64	46	56
Operating Income	28	23	39	27	61	21	19	34	75	55	36	51
Net Income	-52	3	18	4	32	2	1	15	44	30	20	38
EPS	-2.42	0.15	0.80	0.18	1.42	0.07	0.04	0.69	2.03	1.37	0.91	1.78
Key Financials TTM
Total Revenue TTM	2,320	2,421	2,372	2,431	2,462	2,427	2,414	2,395	2,337	2,304	2,343	2,308
Ebitda TTM	95	196	193	173	182	194	226	242	250	266	279	285
Operating Income TTM	116	150	148	128	136	149	183	201	217	238	255	265
Net Income TTM	-27	57	55	38	49	62	91	109	133	158	182	198
Growth Rates Quarterly
Total Revenue Growth	-13.3%	8.3%	-11.2%	-5.3%	5.0%	2.2%	3.8%	10.8%	4.8%	-6.5%	7.5%	16.1%
EBITDA Growth	-140.2%	8.1%	69.0%	-20.3%	-14.0%	-49.6%	-34.4%	-14.5%	-16.2%	-16.1%	-11.8%	17.5%
Operating Income Growth	-54.9%	6.3%	105.1%	-21.9%	-18.2%	-61.4%	-47.9%	-32.6%	-21.7%	-22.8%	-22.7%	16.5%
Net Income Growth	-265.3%	107.9%	1842.6%	-73.6%	-29.0%	-94.7%	-95.3%	-60.5%	-36.7%	-43.9%	-45.2%	16.9%
Margins Quarterly
EBITDA Margin	-4.4%	5.5%	10.8%	6.8%	9.5%	5.6%	5.7%	8.1%	11.6%	11.3%	9.0%	10.4%
Operating Income Margin	4.2%	3.6%	8.3%	4.8%	8.1%	3.7%	3.6%	5.8%	10.3%	9.7%	7.2%	9.5%
Net Income Margin	-7.9%	0.5%	3.9%	0.7%	4.2%	0.3%	0.2%	2.5%	6.2%	5.3%	3.9%	7.1%
Cash & Debt
Total Cash	151	204	145	224	242	217	210	201	226	204	178	228
Total Debt	1,274	1,334	1,317	1,233	1,235	1,280	1,216	1,094	1,075	1,070	920	280
Net Debt / (Cash)	1,123	1,130	1,172	1,009	992	1,063	1,005	892	849	866	743	51
Cash Flows Quarterly
FCF from Operations	85	72	-146	-1	86	-22	-89	-25	54	-94	-156	-46
Cash Flows TTM
FCF from Operations TTM	11	12	-83	-26	-50	-83	-155	-222	-243	-263	-88	77
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	15	-0	-0	-0	2	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	8.6%	5.4%	11.5%	5.4%	17.5%	5.5%	7.3%	12.3%	25.3%	17.8%	14.3%	286.4%
Return on Invested Capital (ROIC) TTM
ROIC TTM	10.2%	9.7%	9.2%	8.7%	10.1%	10.3%	13.1%	16.2%	18.4%	20.0%	25.3%	367.0%

Price Behavior

Price Behavior

Market Price	$23.66
Market Cap ($ Bil)	0.5
First Trading Date	06/03/1998
Distance from 52W High	-27.5%
	50 Days	200 Days
DMA Price	$24.76	$24.08
DMA Trend	down	down
Distance from DMA	-4.4%	-1.8%
	3M	1YR
Volatility	55.0%	61.2%
Downside Capture	141.37	184.38
Upside Capture	75.22	129.41
Correlation (SPY)	44.6%	52.8%

HZO Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.18	1.99	2.03	2.12	1.63	1.58
Up Beta	0.95	3.02	3.61	3.64	1.82	1.72
Down Beta	4.81	4.00	3.38	3.01	1.42	1.22
Up Capture	197%	49%	46%	111%	140%	310%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	8	19	28	61	104	352
Down Capture	214%	120%	137%	129%	137%	110%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	12	22	34	62	142	393

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of HZO With Other Asset Classes (Last 1Y)
	HZO	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-27.2%	9.3%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	61.2%	24.8%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.29	0.31	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		58.3%	52.7%	-1.2%	17.7%	47.8%	28.2%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of HZO With Other Asset Classes (Last 5Y)
	HZO	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-7.0%	9.5%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	54.2%	23.8%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	0.07	0.36	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		48.5%	45.0%	2.9%	10.1%	38.3%	20.4%

Based On 10-Year Data

		Comparison of HZO With Other Asset Classes (Last 10Y)
	HZO	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	2.4%	12.6%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	55.2%	22.0%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.27	0.53	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		48.5%	44.8%	0.3%	15.5%	37.3%	13.0%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	4,210,114
Short Interest: % Change Since 10312025	4.0%
Average Daily Volume	431,110
Days-to-Cover Short Interest	9.77
Basic Shares Quantity	21,515,092
Short % of Basic Shares	19.6%

Returns Analyses

	Title
0	Would You Still Hold MarineMax Stock If It Fell Another 30%?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
6302025	7242025	10-Q 6/30/2025
3312025	4242025	10-Q 3/31/2025
12312024	1232025	10-Q 12/31/2024
9302024	11142024	10-K 9/30/2024
6302024	7252024	10-Q 6/30/2024
3312024	4252024	10-Q 3/31/2024
12312023	1252024	10-Q 12/31/2023
9302023	11172023	10-K 9/30/2023
6302023	7272023	10-Q 6/30/2023
3312023	4272023	10-Q 3/31/2023
12312022	1312023	10-Q 12/31/2022
9302022	11182022	10-K 9/30/2022
6302022	7282022	10-Q 6/30/2022
3312022	5032022	10-Q 3/31/2022
12312021	2012022	10-Q 12/31/2021
9302021	11192021	10-K 9/30/2021

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

MarineMax (HZO)

Market Price (12/4/2025): $23.67 | Market Cap: $509.3 MilSector: Consumer Discretionary | Industry: Specialty Stores

MarineMax (HZO)

Market Price (12/4/2025): $23.67Market Cap: $509.3 MilSector: Consumer DiscretionaryIndustry: Specialty Stores

Valuation, Metrics & Events

HZO Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About MarineMax (HZO)

Recreational Boat and Yacht Sales

Marine Maintenance, Repair, and Overhaul (MRO) Services

Recreational Boat Parts and Accessories

Interactive Breakdown

Better Bets than MarineMax (HZO)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for MarineMax

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (12/4/2025): $23.67 | Market Cap: $509.3 Mil
Sector: Consumer Discretionary | Industry: Specialty Stores

Market Price (12/4/2025): $23.67
Market Cap: $509.3 Mil
Sector: Consumer Discretionary
Industry: Specialty Stores