OneWater Marine (ONEW)
Market Price (11/9/2026): $9.57 | Market Cap: $159.5 MilSector: Consumer Discretionary | Industry: Other Specialty Retail
OneWater Marine (ONEW)
Market Price (11/9/2026): $9.57Market Cap: $159.5 MilSector: Consumer DiscretionaryIndustry: Other Specialty Retail
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldFCF Yield is 35% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Leisure & Outdoor Recreation. Themes include Experiential Retail, Luxury Consumer Goods, Show more. | Weak multi-year price returns2Y Excs Rtn is -85%, 3Y Excs Rtn is -132% 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 11.52 | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 506% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.2%, Rev Chg QQuarterly Revenue Change % is -4.0% 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 -81% Key risksONEW key risks include [1] high leverage constraining financial flexibility and [2] margin compression from challenges in managing non-current inventory, Show more. |
| Attractive yieldFCF Yield is 35% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Leisure & Outdoor Recreation. Themes include Experiential Retail, Luxury Consumer Goods, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -85%, 3Y Excs Rtn is -132% |
| 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 11.52 |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 506% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.2%, Rev Chg QQuarterly Revenue Change % is -4.0% |
| 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 -81% |
| Key risksONEW key risks include [1] high leverage constraining financial flexibility and [2] margin compression from challenges in managing non-current inventory, Show more. |
Qualitative Assessment
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OneWater Marine (ONEW) stock has lost about 20% since 7/31/2026 because of the following key factors:
1. OneWater Marine reported a significant earnings miss and lowered its fiscal year 2026 guidance.
On July 30, 2026, OneWater Marine announced its fiscal Q3 2026 (ended June 30, 2026) results, reporting an adjusted diluted earnings per share (EPS) of $0.73, which missed analysts' consensus estimates ranging from $0.75 to $0.94. Quarterly revenue also fell short, coming in at $530.7 million against estimates of approximately $553 million, a 4.0% decrease compared to fiscal Q3 2025. This revenue decline was primarily attributed to the impact of the Ocean Bio-Chem divestiture. Concurrently, the company updated its full-year fiscal 2026 outlook, anticipating the recreational boating industry to be down high-single digits year-over-year and revising its adjusted diluted EPS guidance to a range of $0.35 to $0.55. The stock price fell 24.8% from the Q3 earnings announcement on July 30, 2026, to October 21, 2026.
2. Weak consumer spending and macroeconomic headwinds dampened the recreational boating market.
Broader macroeconomic factors, including persistent inflation and rising interest rates, have led to a tightening of consumer discretionary spending, directly impacting the retail industry for recreational products. On September 8, 2026, news of an unexpected 0.6% drop in U.S. consumer spending for July 2026, the largest decrease in over a year, specifically highlighting weakness in motor vehicle and parts dealers, caused OneWater Marine's stock to fall 7.1%. The recreational boating industry entered 2026 with mixed economic signals, with new powerboat unit sales estimated to be down 8-10% in fiscal 2025 and expected to be flat to slightly up in fiscal 2026. The market also noted consumer resistance to elevated new-boat pricing.
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OneWater Marine (ONEW) stock has lost about 20% since 7/31/2026 because of the following key factors:
1. OneWater Marine reported a significant earnings miss and lowered its fiscal year 2026 guidance.
On July 30, 2026, OneWater Marine announced its fiscal Q3 2026 (ended June 30, 2026) results, reporting an adjusted diluted earnings per share (EPS) of $0.73, which missed analysts' consensus estimates ranging from $0.75 to $0.94. Quarterly revenue also fell short, coming in at $530.7 million against estimates of approximately $553 million, a 4.0% decrease compared to fiscal Q3 2025. This revenue decline was primarily attributed to the impact of the Ocean Bio-Chem divestiture. Concurrently, the company updated its full-year fiscal 2026 outlook, anticipating the recreational boating industry to be down high-single digits year-over-year and revising its adjusted diluted EPS guidance to a range of $0.35 to $0.55. The stock price fell 24.8% from the Q3 earnings announcement on July 30, 2026, to October 21, 2026.
2. Weak consumer spending and macroeconomic headwinds dampened the recreational boating market.
Broader macroeconomic factors, including persistent inflation and rising interest rates, have led to a tightening of consumer discretionary spending, directly impacting the retail industry for recreational products. On September 8, 2026, news of an unexpected 0.6% drop in U.S. consumer spending for July 2026, the largest decrease in over a year, specifically highlighting weakness in motor vehicle and parts dealers, caused OneWater Marine's stock to fall 7.1%. The recreational boating industry entered 2026 with mixed economic signals, with new powerboat unit sales estimated to be down 8-10% in fiscal 2025 and expected to be flat to slightly up in fiscal 2026. The market also noted consumer resistance to elevated new-boat pricing.
3. A director's resignation contributed to negative market sentiment.
On September 8, 2026, OneWater Marine announced the resignation of director Jeffrey Lamkin from its board of directors and audit committee, effective September 3, 2026. This announcement led to a 7.1% decline in ONEW shares on that day. While the company stated his departure was not due to any disagreements, the sudden change in leadership can often create uncertainty among investors.
4. Analyst price target reduction reflected a cautious outlook.
On October 23, 2026, Truist Financial lowered its price target for OneWater Marine from $13.00 to $12.00, while maintaining a "buy" rating. Although the rating remained positive, the reduction in the price target by a notable financial institution can contribute to a more cautious investor sentiment and put downward pressure on the stock.
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Stock Movement Drivers
Fundamental Drivers
The -21.8% change in ONEW stock from 7/31/2026 to 11/8/2026 was primarily driven by a -21.8% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.25 | 9.58 | -21.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,814 | 1,814 | 0.0% |
| P/S Multiple | 0.1 | 0.1 | -21.8% |
| Shares Outstanding (Mil) | 17 | 17 | 0.0% |
| Cumulative Contribution | -21.8% |
Market Drivers
7/31/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| ONEW | -21.8% | |
| Market (SPY) | -1.6% | 38.8% |
| Sector (XLY) | 1.3% | 58.6% |
Fundamental Drivers
The 2.0% change in ONEW stock from 4/30/2026 to 11/8/2026 was primarily driven by a 6.1% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.39 | 9.58 | 2.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,877 | 1,814 | -3.4% |
| P/S Multiple | 0.1 | 0.1 | 6.1% |
| Shares Outstanding (Mil) | 17 | 17 | -0.5% |
| Cumulative Contribution | 2.0% |
Market Drivers
4/30/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| ONEW | 2.0% | |
| Market (SPY) | 2.6% | 36.2% |
| Sector (XLY) | -0.5% | 47.4% |
Fundamental Drivers
The -38.3% change in ONEW stock from 10/31/2025 to 11/8/2026 was primarily driven by a -38.0% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.53 | 9.58 | -38.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,790 | 1,814 | 1.3% |
| P/S Multiple | 0.1 | 0.1 | -38.0% |
| Shares Outstanding (Mil) | 16 | 17 | -1.8% |
| Cumulative Contribution | -38.3% |
Market Drivers
10/31/2025 to 11/8/2026| Return | Correlation | |
|---|---|---|
| ONEW | -38.3% | |
| Market (SPY) | 8.7% | 41.3% |
| Sector (XLY) | -1.4% | 47.3% |
Fundamental Drivers
The -57.7% change in ONEW stock from 10/31/2023 to 11/8/2026 was primarily driven by a -49.0% change in the company's P/S Multiple.| (LTM values as of) | 10312023 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.63 | 9.58 | -57.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,883 | 1,814 | -3.7% |
| P/S Multiple | 0.2 | 0.1 | -49.0% |
| Shares Outstanding (Mil) | 14 | 17 | -13.9% |
| Cumulative Contribution | -57.7% |
Market Drivers
10/31/2023 to 11/8/2026| Return | Correlation | |
|---|---|---|
| ONEW | -57.7% | |
| Market (SPY) | 81.9% | 42.8% |
| Sector (XLY) | 58.2% | 47.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ONEW Return | 119% | -53% | 18% | -49% | -38% | -11% | -66% |
| Peers Return | 32% | -26% | 13% | -26% | -6% | 26% | -4% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| ONEW Win Rate | 67% | 33% | 58% | 42% | 25% | 45% | |
| Peers Win Rate | 62% | 42% | 52% | 48% | 46% | 52% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| ONEW Max Drawdown | -30% | -55% | -43% | -49% | -51% | -42% | |
| Peers Max Drawdown | -28% | -40% | -34% | -36% | -39% | -31% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HZO, BC, MBUU, MCFT.
[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 11/6/2026 (YTD)
How Low Can It Go
| Event | ONEW | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -15.6% | -7.8% |
| % Gain to Breakeven | 18.5% | 8.5% |
| Time to Breakeven | 93 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.1% | -6.7% |
| % Gain to Breakeven | 25.2% | 7.1% |
| Time to Breakeven | 74 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -77.3% | -33.7% |
| % Gain to Breakeven | 340.4% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
In The Past
OneWater Marine's stock fell -15.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 18.5% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | ONEW | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.1% | -6.7% |
| % Gain to Breakeven | 25.2% | 7.1% |
| Time to Breakeven | 74 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -77.3% | -33.7% |
| % Gain to Breakeven | 340.4% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
In The Past
OneWater Marine's stock fell -15.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 18.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About OneWater Marine (ONEW)
OneWater Marine Inc. operates as a prominent recreational boat retailer across the United States. The company's core business involves the sale of both new and pre-owned recreational boats and yachts, catering to a wide range of boating enthusiasts. Alongside boat sales, OneWater Marine also provides customers with a variety of related marine products, including essential parts and accessories.
Further extending its offerings, OneWater Marine delivers a comprehensive suite of services designed to support boat ownership. These services encompass professional boat repair and maintenance, facilitating boat financing and insurance arrangements, and offering other valuable ancillary services. These additional services include indoor and outdoor storage solutions, marina services, and the rental of boats and personal watercraft.
The company primarily serves the recreational boating market, with its main customers being individuals and families interested in purchasing, maintaining, and enjoying boats and yachts. As of September 2021, OneWater Marine had a substantial footprint, operating 70 stores across 11 states, including major boating regions such as Texas, Florida, and the Carolinas, solidifying its presence in key U.S. markets.
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Here are 1-3 brief analogies for OneWater Marine (ONEW):
- Like CarMax, but for recreational boats and yachts.
- Think of it as Camping World, but specializing in boats.
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- Recreational Boats and Yachts (New and Pre-owned): The company sells new and pre-owned recreational boats and yachts.
- Marine Parts and Accessories: The company sells related marine products such as parts and accessories.
- Boat Repair and Maintenance Services: The company provides services for repairing and maintaining boats.
- Boat Financing Arrangement Services: The company arranges financing options for boat purchases.
- Boat Insurance Arrangement Services: The company arranges insurance policies for boats.
- Boat Storage Services: The company offers indoor and outdoor storage solutions for boats.
- Marina Services: The company operates marinas, providing related services to boaters.
- Boat and Personal Watercraft Rentals: The company rents out boats and personal watercraft.
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OneWater Marine Inc. primarily sells to individual consumers rather than other businesses.
The company serves the following categories of customers:
- New and Pre-Owned Boat and Yacht Buyers: Individuals and families seeking to purchase recreational boats and yachts for personal leisure, fishing, water sports, or cruising. This category includes customers looking for both entry-level vessels and high-end luxury yachts.
- Existing Boat Owners: Individuals who own boats (regardless of where they were purchased) and utilize OneWater Marine for services such as repair and maintenance, parts and accessories, boat financing and insurance, or indoor and outdoor storage and marina services.
- Short-Term Recreational Users: Individuals or groups who rent boats and personal watercraft for temporary recreational use, without the commitment of ownership.
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- Brunswick Corporation (BC)
- Malibu Boats (MBUU)
- MasterCraft Boat Holdings, Inc. (MCFT)
- Marine Products Corporation (MPX)
- Winnebago Industries (WGO)
- BRP Inc. (BRP)
- Yamaha Motor Co., Ltd. (YAMHF)
- Groupe Beneteau (BEN.PA)
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P. Austin Singleton, Executive Chairman of the Board
Austin Singleton is the Founder of OneWater Marine Inc. and currently serves as the Executive Chairman of the Board, a role he was appointed to in August 2025 to formalize his leadership in strategic direction and shareholder value creation. He was previously the Chief Executive Officer and Director, a position he held since April 2019, and was the CEO of One Water Marine Holdings, LLC since its formation in 2014. He also served as CEO of Singleton Marine, which later merged to form OneWater LLC, since 2006. Mr. Singleton's deep involvement in the boating industry began in 1987, and he has experience working in various dealership roles from a young age. He was instrumental in establishing OneWater Marine in 2014 by consolidating Singleton Assets & Operations, Singleton Marine, and Legendary Marine, with a vision to streamline the fragmented marine retail market and offer exit strategies for successful boat dealers.
Anthony Aisquith, Chief Executive Officer
Anthony Aisquith was named Chief Executive Officer of OneWater Marine in August 2025, reflecting his ongoing leadership in executing the company's strategy and managing business operations. Prior to this, he served as President and Chief Operating Officer since April 2019, and as President and COO of OneWater LLC (including its predecessor, Singleton Marine) since 2008. Mr. Aisquith brings over 25 years of experience in the boating industry. He has been pivotal in the expansion and integration of acquired dealerships, contributing to the company's growth from 9 to 63 retail locations during his tenure.
Jack Ezzell, Chief Financial Officer and Chief Operating Officer
Jack Ezzell was appointed Chief Operating Officer in August 2025, in addition to his continuing role as Chief Financial Officer. This formalizes his comprehensive oversight of both the company's financial and operational functions. His responsibilities include managing the financial health of the company alongside its operational execution and performance.
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Key Risks to OneWater Marine (ONEW)
- High Leverage and Floorplan Financing Risk: OneWater Marine operates with significant long-term debt, which has been reported as high as approximately 5.1x adjusted EBITDA and 7x net-debt-to-EBITDA in recent periods. The company heavily relies on floorplan financing to fund its inventory of recreational boats. This reliance, particularly in a high-interest-rate environment, exacerbates financial risk by increasing interest expenses on unsold inventory and potentially leading to illiquid inventory that is costly to hold.
- Cyclicality and Macroeconomic Headwinds in the Recreational Boat Industry: The demand for recreational boats is highly discretionary, making OneWater Marine's business susceptible to economic downturns, changes in consumer confidence, and fluctuations in interest rates. A decline in consumer spending on big-ticket items, coupled with rising interest rates, can significantly impact sales volumes and profitability.
- Inventory Management Challenges: The company faces risks related to managing its inventory effectively. Over the past few years, inventory levels have grown rapidly, impacting profitability and operating cash flow. Challenges include maintaining adequate inventory in a potentially inflationary environment and the inherent illiquidity of large boat inventory, which is compounded by the costs associated with floorplan financing if boats remain unsold for extended periods.
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For OneWater Marine (symbol: ONEW), the addressable markets for its main products and services in the U.S. are sized as follows:
-
Recreational Boat and Yacht Retail (New and Pre-Owned): The total U.S. recreational marine retail expenditure, which encompasses spending on new and pre-owned boats, outboard engines, trailers, aftermarket accessories, and boat use (such as fuel, financing, insurance, docking, and maintenance), reached approximately $55.6 billion in 2024.
- In terms of new boat sales, the U.S. boat building market was valued at USD 15.5 billion in 2024, projected to grow to USD 28.1 billion by 2032.
- Approximately 858,798 pre-owned boats were sold in the U.S. in 2024, accounting for 78.3% of all boat transactions.
- The U.S. Personal Watercraft Jet Ski Market, specifically for sales, was estimated at USD 452.3 million in 2024 and is projected to reach USD 885.7 million by 2034.
-
Marine Parts and Accessories Retail: The aftermarket accessories segment for recreational boating in the U.S. accounted for $12.4 billion in 2024. This market is projected to reach USD 23.45 billion by 2034.
-
Boat Repair and Maintenance Services: The U.S. boat repairing market size was $8.11 billion in 2025 and is projected to grow to $8.79 billion in 2026, and further to $12.67 billion by 2030. Another estimate for the U.S. Ship Repair and Maintenance Services Market was USD 6.55 billion in 2025, expected to reach USD 11.72 billion by 2033.
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Boat Financing and Insurance: While a standalone market size is not distinctly available, these services are included within the broader "boat use spending," which totaled $12.1 billion in 2024 and also covers fuel, docking, and maintenance.
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Ancillary Services (Storage, Marina, Rentals):
- Boat Storage: The U.S. vehicle, RV, and boat storage market is significant and experiencing a supply gap, with nearly 1,800 dedicated RV/boat-exclusive storage properties in the U.S. as of 2025. The global RV and boat storage market is projected to grow from $2.6 billion in 2024 to nearly $6 billion by 2032.
- Marina Services: The North American marina market is estimated to have an annual revenue of approximately $6.5–$7.0 billion in 2026.
- Boat and Personal Watercraft Rental: The U.S. boat rental industry generated an estimated $5.3 billion in revenue in 2024. This market is projected to reach approximately USD 7.41 billion in the U.S. in 2026.
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OneWater Marine (ONEW) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Continued Growth in Pre-Owned Boat Sales: OneWater Marine has experienced strong performance in its pre-owned boat segment, with increased unit sales and higher average unit prices contributing significantly to revenue. For instance, Q1 2026 saw pre-owned boat sales increase by 24%, driven by better availability. This segment is identified as a critical support and a key driver of growth.
- Market Share Expansion and Operational Effectiveness: Despite broader industry declines, OneWater Marine has demonstrated an ability to gain market share and achieve same-store sales growth. For example, in Q3 2025, the company achieved a 2% increase in same-store sales against an industry backdrop with double-digit declines. This suggests that effective inventory management and sales execution are allowing the company to outperform competitors.
- Strategic Acquisitions: OneWater Marine's history includes growth through acquisitions, and this remains a focus for future growth and profitability. While current efforts emphasize optimizing existing operations, strategic acquisitions are noted as a means to expand its footprint and offerings.
- Expansion of Higher-Margin Service, Parts, and Finance & Insurance Segments: The company views its service and parts businesses as a core pillar, which have shown growth. Additionally, finance and insurance revenue has increased, benefiting from boat sales and customers utilizing these programs. These segments typically offer higher margins and contribute to overall revenue stability.
- Portfolio Optimization and Focus on Premium Brands: OneWater Marine is strategically focusing on premium boat segments and has completed brand exits to improve margins and capitalize on growth opportunities with its core brands. This shift towards a refined portfolio of strong brands aims to drive higher revenue per sale and enhanced profitability as the industry stabilizes.
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Share Repurchases
- OneWater Marine announced a $50 million share repurchase authorization on March 31, 2022.
- As of September 30, 2025, the company had repurchased 73,487 shares for $1.93 million under the buyback program announced on March 31, 2022.
Share Issuance
- In October 2021, OneWater Marine used approximately $7 million in stock as part of the funding for its acquisition of T-H Marine.
Outbound Investments
- In February 2025, OneWater Marine acquired American Yacht Group, expanding its presence in the Southeastern U.S. and enhancing its premium yacht offerings, adding HCB Yachts with exclusive dealership rights in Alabama, Florida, New York, and North Carolina. American Yacht Group generated approximately $75 million in sales in 2024.
- OneWater Marine acquired T-H Marine for approximately $185 million in December 2021, significantly expanding its service, parts, and other sales business.
- In January 2021, the company completed the acquisition of Walker Marine Group, which was its largest acquisition at the time, further expanding its presence in Florida and generating over $80 million in revenues in the twelve months prior to the acquisition.
Peer Outperformance in Other Specialty Retail
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| ONEW | OneWater Marine | -1.2% | -1.3x | -36.3% | -59.1% | -80.6% | — |
| ASO | Academy Sports and Outdoors | 0.0% | 10.6x | 48.6% | 53.2% | 51.2% | +132pp |
| TSCO | Tractor Supply | 2.3% | 19.4x | -31.4% | -1.3% | -9.9% | +71pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -14.6% | 32.0% | 43.4% | CVSA 236% · GHC 113% · LRN 109% |
| Homebuilding | 17 | 2.8% | 30.2% | 31.1% | PHM 176% · TOL 159% · GRBK 156% |
| Hotels, Resorts & Cruise Lines | 21 | 19.1% | 64.5% | 10.0% | RCL 261% · MAR 158% · HLT 148% |
| Automotive Retail | 17 | -4.5% | 15.1% | 9.6% | MUSA 202% · PAG 116% · ORLY 112% |
| Home Improvement Retail | 5 | -4.8% | 5.1% | 2.6% | HD 6% · LOW 6% · FND -62% |
| Home Furnishings | 3 | 3.8% | 80.9% | -1.0% | SGI 51% · MHK -14% |
| Footwear | 9 | 75.5% | 91.6% | -14.0% | DECK 25% · SHOO -11% · CROX -14% |
| Restaurants | 36 | 1.5% | -2.3% | -20.8% | EAT 372% · CAKE 166% · TXRH 117% |
| Specialized Consumer Services | 10 | -12.1% | 33.5% | -24.5% | FTDR 176% · HRB 153% · ADT 24% |
| Distributors | 4 | -6.7% | -16.2% | -25.6% | ARMK 98% · GPC 5% · POOL -56% |
| Computer & Electronics Retail | 3 | 32.8% | 83.4% | -25.8% | BBY -3% · GME -54% |
| Leisure Products | 14 | -18.0% | -3.8% | -35.5% | GOLF 51% · HAS 49% · BC -15% |
| Leisure Facilities | 12 | 16.8% | 8.8% | -39.5% | OSW 164% · LTH 142% · PLNT -37% |
| Household Appliances | 18 | 36.3% | 22.9% | -40.0% | WHR -82% |
| Automotive Parts & Equipment | 37 | -13.5% | -21.6% | -46.0% | GTX 193% · PATK 65% · ALV 39% |
| Broadline Retail | 12 | -4.4% | 23.6% | -46.1% | EBAY 81% · AMZN 49% · OLLI 25% |
| Apparel Retail | 27 | -5.5% | 4.9% | -48.7% | ANF 229% · VSXY 115% · TJX 108% |
| Apparel, Accessories & Luxury Goods | 29 | 14.6% | 23.7% | -50.6% | TPR 256% · RL 222% · KTB 56% |
| Casinos & Gaming | 21 | -25.1% | -15.4% | -51.0% | BYD 25% · RRR 22% · LVS 5% |
| Other Specialty Retail ← | 25 | -5.3% | -7.9% | -58.5% | ULTA 66% · ASO 51% · ARHS 23% |
| Automobile Manufacturers | 8 | -57.1% | -42.1% | -70.4% | GM 51% · TSLA -8% · F -16% |
| Consumer Electronics | 11 | -31.6% | -31.4% | -80.7% | GRMN 116% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| OneWater Marine Earnings Notes | 12/16/2025 | |
| null | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 20.36 |
| Mkt Cap | 0.8 |
| Rev LTM | 2,005 |
| Op Inc LTM | 68 |
| FCF LTM | 117 |
| FCF 3Y Avg | 39 |
| CFO LTM | 143 |
| CFO 3Y Avg | 64 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.9% |
| Rev Chg 3Y Avg | -3.0% |
| Rev Chg Q | 1.4% |
| QoQ Delta Rev Chg LTM | 0.2% |
| Op Inc Chg LTM | -4.8% |
| Op Inc Chg 3Y Avg | -19.5% |
| Op Mgn LTM | 3.4% |
| Op Mgn 3Y Avg | 4.3% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 6.8% |
| CFO/Rev 3Y Avg | 5.8% |
| FCF/Rev LTM | 4.8% |
| FCF/Rev 3Y Avg | 3.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Dealerships | 1,725 | 1,617 | 1,755 | 1,609 | |
| Distribution | 147 | 156 | 181 | 136 | |
| Eliminations | 0 | ||||
| Finance and insurance income | 43 | ||||
| New boat | 873 | ||||
| Pre-owned boat | 216 | ||||
| Service, parts and other | 96 | ||||
| Total | 1,872 | 1,773 | 1,936 | 1,745 | 1,228 |
| $ Mil | 2024 | 2023 | 2022 |
|---|---|---|---|
| Dealerships | 68 | 163 | 211 |
| Eliminations | -0 | -0 | 0 |
| Distribution | -3 | -145 | 6 |
| Total | 65 | 18 | 218 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Dealerships | 1,277 | 1,358 | 1,435 | 1,078 |
| Distribution | 127 | 232 | 254 | 419 |
| Eliminations | -0 | 0 | ||
| Total | 1,404 | 1,590 | 1,689 | 1,497 |
Price Behavior
| Market Price | $9.58 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 02/07/2020 | |
| Distance from 52W High | -38.2% | |
| 50 Days | 200 Days | |
| DMA Price | $10.07 | $10.98 |
| DMA Trend | down | down |
| Distance from DMA | -4.8% | -12.8% |
| 3M | 1YR | |
| Volatility | 53.4% | 58.5% |
| Downside Capture | 147.79 | 188.55 |
| Upside Capture | 41.01 | 114.21 |
| Correlation (S&P 500) | 37.0% | 41.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.37 | 1.19 | 1.21 | 1.26 | 1.76 | 1.64 |
| Up Beta | -5.07 | 0.84 | 1.23 | 0.74 | 1.61 | 1.49 |
| Down Beta | -0.66 | 0.27 | 0.64 | 1.99 | 2.54 | 1.67 |
| Up Capture | 122% | 82% | 74% | 110% | 125% | 259% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 11 | 17 | 28 | 61 | 124 | 361 |
| Down Capture | 89% | 222% | 203% | 122% | 149% | 112% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 11 | 26 | 36 | 65 | 122 | 383 |
[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 ONEW | |
|---|---|---|---|---|
| ONEW | -38.2% | 58.5% | -0.60 | - |
| Sector ETF (XLY) | -1.9% | 19.8% | -0.22 | 47.2% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 41.2% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | 10.3% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | -23.7% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | 31.3% |
| Bitcoin (BTCUSD) | -27.2% | 43.6% | -0.61 | 25.2% |
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 ONEW | |
|---|---|---|---|---|
| ONEW | -26.2% | 55.5% | -0.34 | - |
| Sector ETF (XLY) | 4.0% | 24.2% | 0.12 | 45.1% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 42.5% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 5.1% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | -0.2% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 39.1% |
| Bitcoin (BTCUSD) | 4.0% | 51.6% | 0.26 | 20.3% |
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 ONEW | |
|---|---|---|---|---|
| ONEW | -3.9% | 64.2% | 0.18 | - |
| Sector ETF (XLY) | 12.8% | 22.3% | 0.52 | 48.0% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 45.4% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 5.8% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 10.9% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 42.0% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 21.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -2.4% | -1.4% | -8.1% |
| 4/30/2026 | -7.1% | 11.7% | 8.9% |
| 1/29/2026 | -2.5% | 6.5% | -13.9% |
| 11/13/2025 | -10.5% | -28.2% | -29.2% |
| 7/31/2025 | 5.4% | 11.6% | 17.3% |
| 5/1/2025 | -8.5% | -19.4% | -1.6% |
| 1/30/2025 | 13.7% | 23.1% | 7.9% |
| 11/14/2024 | -10.4% | -21.5% | -10.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 9 |
| # Negative | 11 | 8 | 13 |
| Median Positive | 4.7% | 6.7% | 9.6% |
| Median Negative | -7.1% | -16.3% | -7.5% |
| Max Positive | 14.1% | 23.1% | 28.2% |
| Max Negative | -15.5% | -30.3% | -29.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -2.4% | -1.4% | -8.1% |
| 4/30/2026 | -7.1% | 11.7% | 8.9% |
| 1/29/2026 | -2.5% | 6.5% | -13.9% |
| 11/13/2025 | -10.5% | -28.2% | -29.2% |
| 7/31/2025 | 5.4% | 11.6% | 17.3% |
| 5/1/2025 | -8.5% | -19.4% | -1.6% |
| 1/30/2025 | 13.7% | 23.1% | 7.9% |
| 11/14/2024 | -10.4% | -21.5% | -10.8% |
| 7/30/2024 | -15.5% | -30.3% | -21.0% |
| 5/2/2024 | 14.1% | 15.4% | 28.2% |
| 2/1/2024 | 4.1% | 2.8% | 4.0% |
| 5/4/2023 | 8.5% | 11.7% | 20.1% |
| 2/2/2023 | -8.9% | -13.3% | -15.2% |
| 11/15/2022 | -3.5% | -7.2% | -6.6% |
| 8/4/2022 | 0.7% | 6.8% | 9.6% |
| 5/5/2022 | 4.7% | -3.8% | -1.1% |
| 2/3/2022 | 0.5% | 1.3% | -2.1% |
| 11/18/2021 | 6.3% | 5.4% | -2.9% |
| 7/29/2021 | 4.5% | 1.7% | -7.5% |
| 4/29/2021 | -4.3% | 3.6% | -3.4% |
| 2/4/2021 | 1.5% | 4.9% | 5.9% |
| 11/19/2020 | -5.5% | 15.6% | 16.7% |
| SUMMARY STATS | |||
| # Positive | 11 | 14 | 9 |
| # Negative | 11 | 8 | 13 |
| Median Positive | 4.7% | 6.7% | 9.6% |
| Median Negative | -7.1% | -16.3% | -7.5% |
| Max Positive | 14.1% | 23.1% | 28.2% |
| Max Negative | -15.5% | -30.3% | -29.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 12/15/2025 | 10-K |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 01/31/2025 | 10-Q |
| 09/30/2024 | 12/10/2024 | 10-K |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/02/2024 | 10-Q |
| 09/30/2023 | 12/14/2023 | 10-K |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/03/2023 | 10-Q |
| 09/30/2022 | 12/15/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 12/15/2025 | 10-K |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 01/31/2025 | 10-Q |
| 09/30/2024 | 12/10/2024 | 10-K |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/02/2024 | 10-Q |
| 09/30/2023 | 12/14/2023 | 10-K |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/03/2023 | 10-Q |
| 09/30/2022 | 12/15/2022 | 10-K |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/08/2022 | 10-Q |
| 09/30/2021 | 12/17/2021 | 10-K |
| 06/30/2021 | 08/12/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/11/2021 | 10-Q |
| 09/30/2020 | 12/03/2020 | 10-K |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/14/2020 | 10-Q |
| 12/31/2019 | 03/20/2020 | 10-Q |
| 09/30/2019 | 02/10/2020 | 424B4 |
Recent Forward Guidance
Updated 11/2/2026Latest: Q3 2026 Earnings Reported 7/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Same-store sales growth | Reported | -5.0% | -3.5% | -2.0% | ||||
| 2026 Revenue | Reported | 1.75 Bil | 1.77 Bil | 1.80 Bil | -3.0% | Lowered | Guidance: 1.83 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 68.00 Mil | 73.00 Mil | 78.00 Mil | 4.3% | Raised | Guidance: 70.00 Mil for 2026 | |
| 2026 Adjusted EPS | Reported | 0.35 | 0.45 | 0.55 | 0 | Affirmed | Guidance: 0.45 for 2026 | |
Prior: Q2 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Revenue | Reported | 1.78 Bil | 1.83 Bil | 1.88 Bil | -2.7% | Lowered | Guidance: 1.88 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 60.00 Mil | 70.00 Mil | 80.00 Mil | -6.7% | Lowered | Guidance: 75.00 Mil for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 0.2 | 0.45 | 0.7 | -10.0% | Lowered | Guidance: 0.5 for 2026 | |
Q1 2026 Earnings Reported 1/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Revenue | Reported | 1.83 Bil | 1.88 Bil | 1.93 Bil | 0 | Affirmed | Guidance: 1.88 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 65.00 Mil | 75.00 Mil | 85.00 Mil | 0 | Affirmed | Guidance: 75.00 Mil for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 0.25 | 0.5 | 0.75 | 0 | Affirmed | Guidance: 0.5 for 2026 | |
Q4 2025 Earnings Reported 11/13/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 1.83 Bil | 1.88 Bil | 1.93 Bil | 3.0% | Higher New | Actual: 1.82 Bil for 2025 | |
| 2026 Adjusted EBITDA | Reported | 65.00 Mil | 75.00 Mil | 85.00 Mil | 3.4% | Higher New | Actual: 72.50 Mil for 2025 | |
| 2026 Adjusted Diluted EPS | Reported | 0.25 | 0.5 | 0.75 | -20.0% | Lower New | Actual: 0.63 for 2025 | |
Insider Activity
Updated 10/5/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bos, Teresa D | Direct | Sell | 9082026 | 12.10 | 56,429 | 682,791 | 9,444,945 | Form | |
| 2 | Bos, Teresa D | Direct | Sell | 9032026 | 12.03 | 52,120 | 627,004 | 10,069,146 | Form | |
| 3 | Bos, Teresa D | Direct | Sell | 8252026 | 12.54 | 11,251 | 141,054 | 11,146,935 | Form | |
| 4 | Bos, Teresa D | Direct | Sell | 8122026 | 12.81 | 110,250 | 1,412,302 | 11,533,791 | Form | |
| 5 | Bos, Teresa D | Direct | Sell | 8122026 | 12.64 | 19,871 | 251,169 | 12,774,287 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bos, Teresa D | Direct | Sell | 9082026 | 12.10 | 56,429 | 682,791 | 9,444,945 | Form | |
| 2 | Bos, Teresa D | Direct | Sell | 9032026 | 12.03 | 52,120 | 627,004 | 10,069,146 | Form | |
| 3 | Bos, Teresa D | Direct | Sell | 8252026 | 12.54 | 11,251 | 141,054 | 11,146,935 | Form | |
| 4 | Bos, Teresa D | Direct | Sell | 8122026 | 12.81 | 110,250 | 1,412,302 | 11,533,791 | Form | |
| 5 | Bos, Teresa D | Direct | Sell | 8122026 | 12.64 | 19,871 | 251,169 | 12,774,287 | Form | |
| 6 | Bos, Teresa D | Direct | Sell | 8122026 | 13.00 | 8 | 104 | 13,396,435 | Form | |
| 7 | Bos, Teresa D | Direct | Sell | 6052026 | 11.20 | 45 | 504 | 11,546,168 | Form | |
| 8 | Troiano, John | OWM BIP Investor, LLC | Sell | 5122026 | 12.07 | 18,801 | 226,958 | 1,811,476 | Form | |
| 9 | Troiano, John | Beekman Investment Partners AIV III-OWM, L.P | Sell | 5122026 | 12.07 | 9,043 | 109,111 | 499,983 | Form | |
| 10 | Troiano, John | OWM BIP Investor, LLC | Sell | 5122026 | 12.16 | 2,560 | 31,123 | 2,052,906 | Form | |
| 11 | Troiano, John | Beekman Investment Partners AIV III-OWM, L.P. | Sell | 5122026 | 12.16 | 1,111 | 13,508 | 613,788 | Form | |
| 12 | Singleton, Philip Austin JR | Executive Chairman | Auburn OWMH, LLLP | Buy | 5062026 | 10.88 | 21,930 | 238,598 | 8,723,758 | Form |
| 13 | Singleton, Philip Austin JR | Executive Chairman | Auburn OWMH, LLLP | Buy | 5062026 | 9.95 | 110 | 1,094 | 7,759,866 | Form |
| 14 | Singleton, Philip Austin JR | Executive Chairman | Auburn OWMH, LLLP | Buy | 2132026 | 12.52 | 18,008 | 225,460 | 9,762,796 | Form |
| 15 | Troiano, John | OWM BIP Investor, LLC | Sell | 2132026 | 13.19 | 1,028 | 13,559 | 2,261,056 | Form | |
| 16 | Troiano, John | Beekman Investment Partners AIV III-OWM, L.P. | Sell | 2132026 | 13.19 | 634 | 8,362 | 680,498 | Form | |
| 17 | Singleton, Philip Austin JR | Executive Chairman | Auburn OWMH, LLLP | Buy | 2132026 | 12.93 | 6,345 | 82,041 | 9,849,660 | Form |
| 18 | Bos, Teresa D | Direct | Sell | 2132026 | 14.01 | 662 | 9,275 | 14,437,977 | Form | |
| 19 | Bos, Peter H JR | Direct | Sell | 2062026 | 14.00 | 5,752 | 80,530 | 14,437,299 | Form | |
| 20 | Bos, Teresa D | Direct | Sell | 2052026 | 14.02 | 40,000 | 560,800 | 14,538,207 | Form | |
| 21 | Bos, Teresa D | Direct | Sell | 2052026 | 14.18 | 20,889 | 296,206 | 15,271,321 | Form | |
| 22 | Singleton, Philip Austin JR | Executive Chairman | Auburn OWMH, LLLP | Buy | 11252025 | 11.47 | 43,179 | 495,263 | 8,664,702 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Other Specialty Retail Resources |
| Specialty Retailer |
| Retail Gazette |
| Inside Retail |
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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