MarineMax (HZO)
Market Price (1/31/2026): $26.41 | Market Cap: $579.5 MilSector: Consumer Discretionary | Industry: Specialty Stores
MarineMax (HZO)
Market Price (1/31/2026): $26.41Market Cap: $579.5 MilSector: Consumer DiscretionaryIndustry: Specialty Stores
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10% | Weak multi-year price returns2Y Excs Rtn is -45%, 3Y Excs Rtn is -95% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 179% |
| Attractive yieldFCF Yield is 31% | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.8, 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 18% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.1% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Luxury Consumer Goods. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% | |
| Key risksHZO key risks include [1] its significant debt load and high financial leverage and [2] a heavy geographic concentration of revenue in Florida. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Attractive yieldFCF Yield is 31% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Experiential Retail, and Luxury Consumer Goods. |
| Weak multi-year price returns2Y Excs Rtn is -45%, 3Y Excs Rtn is -95% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.8, 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 18% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 179% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.1% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% |
| Key risksHZO key risks include [1] its significant debt load and high financial leverage and [2] a heavy geographic concentration of revenue in Florida. |
Qualitative Assessment
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MarineMax (HZO) stock has gained about 5% since 9/30/2025 because of the following key factors:
1. Strong Fiscal Q4 2025 Earnings Beat. MarineMax exceeded analyst expectations for both earnings per share (EPS) and revenue in its fiscal fourth quarter 2025, reporting an adjusted loss of $0.04 per share against a consensus estimate of a $0.15 loss, and revenue of $552.15 million compared to expectations of $533.05 million.
2. Strategic Diversification into Higher-Margin Businesses. The company demonstrated resilience by expanding its consolidated gross margin to 34.7% in Q4 2025, primarily driven by the growth and strong contributions from its higher-margin segments, including finance and insurance, parts and service, superyacht services, and marina operations. This strategic focus helped offset pressures in new boat sales.
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1. Strong Fiscal Q4 2025 Earnings Beat. MarineMax exceeded analyst expectations for both earnings per share (EPS) and revenue in its fiscal fourth quarter 2025, reporting an adjusted loss of $0.04 per share against a consensus estimate of a $0.15 loss, and revenue of $552.15 million compared to expectations of $533.05 million.
2. Strategic Diversification into Higher-Margin Businesses. The company demonstrated resilience by expanding its consolidated gross margin to 34.7% in Q4 2025, primarily driven by the growth and strong contributions from its higher-margin segments, including finance and insurance, parts and service, superyacht services, and marina operations. This strategic focus helped offset pressures in new boat sales.
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Stock Movement Drivers
Fundamental Drivers
The 6.7% change in HZO stock from 9/30/2025 to 1/30/2026 was primarily driven by a 7.6% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 1302026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.33 | 27.03 | 6.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,320 | 2,346 | 1.1% |
| P/S Multiple | 0.2 | 0.3 | 7.6% |
| Shares Outstanding (Mil) | 22 | 22 | -1.9% |
| Cumulative Contribution | 6.7% |
Market Drivers
9/30/2025 to 1/30/2026| Return | Correlation | |
|---|---|---|
| HZO | 6.7% | |
| Market (SPY) | 3.9% | 43.2% |
| Sector (XLY) | 1.1% | 46.6% |
Fundamental Drivers
The 7.5% change in HZO stock from 6/30/2025 to 1/30/2026 was primarily driven by a 7.6% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 1302026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.14 | 27.03 | 7.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,421 | 2,346 | -3.1% |
| P/S Multiple | 0.2 | 0.3 | 7.6% |
| Shares Outstanding (Mil) | 23 | 22 | 3.1% |
| Cumulative Contribution | 7.5% |
Market Drivers
6/30/2025 to 1/30/2026| Return | Correlation | |
|---|---|---|
| HZO | 7.5% | |
| Market (SPY) | 12.3% | 39.7% |
| Sector (XLY) | 11.7% | 51.3% |
Fundamental Drivers
The -6.6% change in HZO stock from 12/31/2024 to 1/30/2026 was primarily driven by a -4.9% change in the company's P/S Multiple.| (LTM values as of) | 12312024 | 1302026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.95 | 27.03 | -6.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,431 | 2,346 | -3.5% |
| P/S Multiple | 0.3 | 0.3 | -4.9% |
| Shares Outstanding (Mil) | 22 | 22 | 1.7% |
| Cumulative Contribution | -6.6% |
Market Drivers
12/31/2024 to 1/30/2026| Return | Correlation | |
|---|---|---|
| HZO | -6.6% | |
| Market (SPY) | 19.1% | 51.7% |
| Sector (XLY) | 8.7% | 57.8% |
Fundamental Drivers
The -13.4% change in HZO stock from 12/31/2022 to 1/30/2026 was primarily driven by a -13.2% change in the company's P/S Multiple.| (LTM values as of) | 12312022 | 1302026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.22 | 27.03 | -13.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,308 | 2,346 | 1.6% |
| P/S Multiple | 0.3 | 0.3 | -13.2% |
| Shares Outstanding (Mil) | 22 | 22 | -1.8% |
| Cumulative Contribution | -13.4% |
Market Drivers
12/31/2022 to 1/30/2026| Return | Correlation | |
|---|---|---|
| HZO | -13.4% | |
| Market (SPY) | 87.7% | 43.8% |
| Sector (XLY) | 92.1% | 48.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HZO Return | 69% | -47% | 25% | -26% | -16% | 2% | -30% |
| Peers Return | 33% | -23% | 9% | -27% | -7% | 13% | -15% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 2% | 86% |
Monthly Win Rates [3] | |||||||
| HZO Win Rate | 67% | 42% | 58% | 58% | 33% | 100% | |
| Peers Win Rate | 60% | 40% | 53% | 45% | 52% | 100% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| HZO Max Drawdown | -1% | -53% | -15% | -37% | -39% | -1% | |
| Peers Max Drawdown | -5% | -38% | -18% | -33% | -29% | -0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ONEW, BC, MBUU, MCFT, MPX.
[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] 2026 data is for the year up to 1/30/2026 (YTD)
How Low Can It Go
| Event | HZO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -60.1% | -25.4% |
| % Gain to Breakeven | 150.6% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -64.0% | -33.9% |
| % Gain to Breakeven | 178.0% | 51.3% |
| Time to Breakeven | 72 days | 148 days |
| 2018 Correction | ||
| % Loss | -46.6% | -19.8% |
| % Gain to Breakeven | 87.3% | 24.7% |
| Time to Breakeven | 365 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -95.4% | -56.8% |
| % Gain to Breakeven | 2079.0% | 131.3% |
| Time to Breakeven | 2,156 days | 1,480 days |
Compare to ONEW, BC, MBUU, MCFT, MPX
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.
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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.
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- 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.
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```htmlMarineMax (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.
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- Brunswick Corporation (BC)
- MasterCraft Boat Holdings, Inc. (MCFT)
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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.
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The key risks to MarineMax's (HZO) business are:
- Macroeconomic Pressures and Cyclical Industry: MarineMax operates in a cyclical industry highly susceptible to macroeconomic conditions. High interest rates, inflation, and general economic uncertainty are leading to cautious consumer spending, significantly impacting retail demand for new boats and resulting in declining same-store sales. This environment is causing pressure on new boat margins and overall profitability, pushing the company to a net loss in fiscal year 2025.
- High Financial Leverage and Debt Load: The company carries a significant debt load, which is a substantial risk, particularly during periods of economic downturn and declining profitability. MarineMax's high net-debt-to-EBITDA ratio and increased interest expense raise concerns about its financial health and ability to meet near-term obligations, especially given a heavy reliance on inventory within its current assets.
- Geographic Concentration Risk: A substantial portion of MarineMax's dealership revenue, approximately 51% to 54%, is generated from the State of Florida. This geographic concentration exposes the company to disproportionate risks from adverse economic conditions, severe weather events, or other localized disruptions within that region, which could significantly impact its top line.
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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.
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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.
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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.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 24.28 |
| Mkt Cap | 0.5 |
| Rev LTM | 1,352 |
| Op Inc LTM | 44 |
| FCF LTM | 63 |
| FCF 3Y Avg | 37 |
| CFO LTM | 82 |
| CFO 3Y Avg | 46 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -1.5% |
| Rev Chg 3Y Avg | -8.3% |
| Rev Chg Q | 7.3% |
| QoQ Delta Rev Chg LTM | 1.6% |
| Op Mgn LTM | 4.1% |
| Op Mgn 3Y Avg | 7.3% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 8.9% |
| CFO/Rev 3Y Avg | 10.3% |
| FCF/Rev LTM | 6.0% |
| FCF/Rev 3Y Avg | 5.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.5 |
| P/S | 0.9 |
| P/EBIT | 9.0 |
| P/E | 10.1 |
| P/CFO | 8.0 |
| Total Yield | 0.3% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 6.8% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 12.7% |
| 3M Rtn | 12.7% |
| 6M Rtn | 15.5% |
| 12M Rtn | 2.1% |
| 3Y Rtn | -19.3% |
| 1M Excs Rtn | 10.9% |
| 3M Excs Rtn | 4.8% |
| 6M Excs Rtn | 4.3% |
| 12M Excs Rtn | -9.5% |
| 3Y Excs Rtn | -97.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Retail Operations | 2,418 | 2,294 | 2,213 | 2,044 | 1,510 |
| Product Manufacturing | 155 | 222 | 176 | 44 | 0 |
| Intersegment Adjustments & Eliminations | -142 | -122 | -81 | -24 | 0 |
| Total | 2,431 | 2,395 | 2,308 | 2,063 | 1,510 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Retail Operations | 123 | 192 | 249 | 207 | 107 |
| Intersegment Adjustments & Eliminations | 5 | ||||
| Product Manufacturing | 0 | 23 | 20 | 7 | 0 |
| Intersegment adjustments | -15 | -4 | -5 | 0 | |
| Total | 128 | 201 | 265 | 209 | 107 |
Price Behavior
Price Behavior
| Market Price | $27.03 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 06/03/1998 | |
| Distance from 52W High | -13.2% | |
| 50 Days | 200 Days | |
| DMA Price | $25.39 | $24.61 |
| DMA Trend | up | up |
| Distance from DMA | 6.4% | 9.8% |
| 3M | 1YR | |
| Volatility | 54.5% | 60.3% |
| Downside Capture | 152.85 | 167.93 |
| Upside Capture | 191.71 | 131.49 |
| Correlation (SPY) | 52.7% | 53.9% |
HZO Betas & Captures as of 12/31/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.33 | 1.90 | 1.88 | 2.03 | 1.63 | 1.59 |
| Up Beta | 0.11 | 1.10 | 2.52 | 3.81 | 1.81 | 1.70 |
| Down Beta | 1.55 | 3.22 | 3.41 | 2.67 | 1.42 | 1.27 |
| Up Capture | 189% | 163% | 79% | 81% | 170% | 318% |
| Bmk +ve Days | 11 | 23 | 37 | 72 | 143 | 431 |
| Stock +ve Days | 8 | 15 | 27 | 56 | 107 | 351 |
| Down Capture | 101% | 168% | 115% | 140% | 135% | 111% |
| Bmk -ve Days | 11 | 18 | 27 | 55 | 108 | 320 |
| Stock -ve Days | 14 | 26 | 36 | 68 | 141 | 395 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HZO | |
|---|---|---|---|---|
| HZO | -3.8% | 60.5% | 0.16 | - |
| Sector ETF (XLY) | 5.7% | 24.2% | 0.17 | 59.1% |
| Equity (SPY) | 16.1% | 19.2% | 0.65 | 52.8% |
| Gold (GLD) | 76.5% | 23.4% | 2.38 | -12.1% |
| Commodities (DBC) | 11.1% | 15.9% | 0.48 | 11.6% |
| Real Estate (VNQ) | 5.3% | 16.5% | 0.14 | 47.0% |
| Bitcoin (BTCUSD) | -21.5% | 40.0% | -0.51 | 30.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HZO | |
|---|---|---|---|---|
| HZO | -8.8% | 54.2% | 0.03 | - |
| Sector ETF (XLY) | 8.1% | 23.8% | 0.30 | 49.0% |
| Equity (SPY) | 14.0% | 17.1% | 0.65 | 45.5% |
| Gold (GLD) | 20.8% | 16.5% | 1.03 | -0.4% |
| Commodities (DBC) | 12.2% | 18.8% | 0.53 | 8.9% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 38.7% |
| Bitcoin (BTCUSD) | 20.3% | 57.6% | 0.55 | 20.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HZO | |
|---|---|---|---|---|
| HZO | 5.6% | 55.1% | 0.32 | - |
| Sector ETF (XLY) | 13.9% | 21.9% | 0.58 | 48.0% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 44.4% |
| Gold (GLD) | 15.6% | 15.3% | 0.85 | -1.2% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 14.2% |
| Real Estate (VNQ) | 5.9% | 20.8% | 0.25 | 37.1% |
| Bitcoin (BTCUSD) | 71.0% | 66.4% | 1.10 | 12.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/29/2026 | -8.2% | ||
| 11/13/2025 | -3.9% | -4.7% | 6.9% |
| 7/24/2025 | -16.9% | -17.2% | -6.4% |
| 4/24/2025 | 17.3% | 11.1% | 11.3% |
| 1/23/2025 | 15.9% | 3.8% | -4.2% |
| 10/31/2024 | -3.0% | 9.0% | 14.2% |
| 7/25/2024 | 17.2% | 10.1% | -5.2% |
| 4/25/2024 | -5.8% | -9.8% | -0.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 15 | 14 |
| # Negative | 10 | 9 | 10 |
| Median Positive | 7.3% | 10.9% | 14.5% |
| Median Negative | -7.0% | -9.9% | -5.3% |
| Max Positive | 24.0% | 24.8% | 52.6% |
| Max Negative | -16.9% | -17.2% | -17.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 01/29/2026 | 10-Q |
| 09/30/2025 | 11/17/2025 | 10-K |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 01/23/2025 | 10-Q |
| 09/30/2024 | 11/14/2024 | 10-K |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 01/25/2024 | 10-Q |
| 09/30/2023 | 11/17/2023 | 10-K |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 01/31/2023 | 10-Q |
| 09/30/2022 | 11/18/2022 | 10-K |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McGill, W Brett | CEO & President | Direct | Sell | 8272025 | 27.52 | 59,400 | 1,634,688 | 4,778,518 | Form |
| 2 | McGill, W Brett | CEO & President | Direct | Sell | 8272025 | 28.17 | 600 | 16,902 | 4,874,480 | Form |
| 3 | Biumi, Bonnie | Direct | Buy | 3122025 | 23.37 | 1,000 | 23,370 | 46,740 | Form | |
| 4 | Biumi, Bonnie | Direct | Buy | 2252025 | 26.50 | 1,000 | 26,500 | 26,500 | Form | |
| 5 | Moore, Clint | Direct | Sell | 1292025 | 30.63 | 4,100 | 125,583 | 721,643 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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