Malibu Boats, Inc.

MBUU

Consumer CyclicalSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Malibu Boats, Inc. designs, engineers, manufactures, markets, and sells various recreational powerboats. The company operates through three segments: Malibu, Saltwater Fishing, and Cobalt. It provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands. The company's products are used for various recreational boating activities, including water sports, such as wakeboarding, water skiing, and wake surfing; and general recreational boating and fishing. It sells its products through independent dealers. Malibu Boats, Inc. was founded in 1982 and is based in Loudon, Tennessee.

Valuation

Market Cap$469M

Current Price$25.22

P/E Ratio34.08

P/B Ratio0.95

EV / EBITDA7.47

EV / Sales0.57

Profitability

Operating Margin-

Net Profit Margin1.8%

EBITDA Margin7.5%

Returns

ROE2.9%

ROCE-

ROIC %3.3%

ROA2.0%

Solvency

Current Ratio1.56

Debt / Equity0.04

Debt / Assets0.03

CFO / Net Profit3.80

Price History▼ 12.76% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$808M▼ 2.6%

EBITDA$61M

Net Profit$15M

Cash from Ops (CFO)$57M

Free Cash Flow (FCF)$29M

Revenue CAGR 3Y-

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$808M	$61M	$15M	$29M	2.9%	-2.6%	-
2024	$829M	$-23M	$-56M	$-20M	-10.5%	-40.3%	-153.5%
2023	$1.4B	$173M	$105M	$130M	17.0%	14.3%	-33.7%
2022	$1.2B	$239M	$158M	$110M	30.7%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025
Total Revenue	1,214.88	1,388.37	829.03	807.56
Cost Of Revenue	904.83	1,037.07	681.94	663.47
Gross Profit	310.05	351.30	147.09	144.09
Operating Expense	96.23	206.51	105.92	122.33
Operating Income	213.82	144.78	41.18	21.76
EBITDA	239.16	173.17	-22.95	60.74
EBIT	212.84	144.45	-55.94	22.15
Pretax Income	209.97	141.49	-57.78	20.26
Tax Provision	46.53	33.58	-1.34	5.02
Net Income	157.63	104.51	-55.91	14.88
Net Income Common Stockholders	157.63	104.51	-55.91	14.88
Total Expenses	1,001.05	1,243.58	787.86	785.80
Interest Expense	2.88	2.96	1.84	1.88
Selling General And Administration	89.27	199.70	99.11	115.53
Normalized EBITDA	239.16	173.17	74.17	60.74
Normalized Income	157.63	104.51	38.96	14.88
Basic EPS	7.60	5.10	-2.74	0.76
Diluted EPS	7.51	5.06	-2.74	0.76
Tax Effect Of Unusual Items	0	0	-2.26	0
Tax Rate For Calcs	0.22	0.24	0.02	0.25
Total Unusual Items	0	0	-97.12	0
Total Unusual Items Excluding Goodwill	0	0	-97.12	0
Net Income From Continuing Operation Net Minority Interest	157.63	104.51	-55.91	14.88
Reconciled Depreciation	26.32	28.72	32.99	38.59
Reconciled Cost Of Revenue	885.46	1,015.16	655.76	631.68
Net Interest Income	-2.88	-2.96	-1.84	-1.88
Net Income From Continuing And Discontinued Operation	157.63	104.51	-55.91	14.88
Total Operating Income As Reported	213.82	144.78	-55.95	21.76
Diluted Average Shares	20.99	20.64	20.44	19.69
Basic Average Shares	20.75	20.50	20.44	19.66
Diluted NI Availto Com Stockholders	157.63	104.51	-55.91	14.88
Minority Interests	-5.80	-3.40	0.53	-0.36
Net Income Including Noncontrolling Interests	163.43	107.91	-56.44	15.24
Net Income Continuous Operations	163.43	107.91	-56.44	15.24
Other Income Expense	-0.98	-0.33	-97.12	0.39
Other Non Operating Income Expenses	-0.98	-0.33	0	0.39
Special Income Charges	0	0	-97.12	0
Other Special Charges	0	0	8.73	0
Impairment Of Capital Assets	0	0	88.39	0
Net Non Operating Interest Income Expense	-2.88	-2.96	-1.84	-1.88
Interest Expense Non Operating	2.88	2.96	1.84	1.88
Depreciation Amortization Depletion Income Statement	6.96	6.81	6.81	6.80
Depreciation And Amortization In Income Statement	6.96	6.81	6.81	6.80
Amortization	6.96	6.81	6.81	6.80
Amortization Of Intangibles Income Statement	6.96	6.81	6.81	6.80
Selling And Marketing Expense	22.90	24.01	22.78	23.07
General And Administrative Expense	66.37	175.69	76.32	92.46
Other Gand A	66.37	175.69	76.32	92.46
Operating Revenue	1,214.88	1,388.37	829.03	807.56

Peer Comparison

Consumer Cyclical sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Malibu Boats, Inc.this co.	MBUU	$469M	34.08↑ premium	0.95	2.9%	7.47
Shoe Carnival, Inc.	SCVL	$503M	9.63	0.73	7.6%	7.56
Stitch Fix, Inc.	SFIX	$501M	-	2.39	-14.2%	-105.75
Legacy Housing Corporation	LEGH	$498M	12.03	0.94	7.9%	9.80
Build-A-Bear Workshop, Inc.	BBW	$462M

Learn while you research

Hand-picked academy chapters to deepen your understanding of Malibu Boats, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Valuation Multiples Explained

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$808M

$61M

$15M

$29M

2.9%

-2.6%

2024

$829M

$-23M

$-56M

$-20M

-10.5%

-40.3%

-153.5%

2023

$1.4B

$173M

$105M

$130M

17.0%

14.3%

-33.7%

2022

$1.2B

$239M

$158M

$110M

30.7%

Metric

2022

2023

2024

2025

Total Revenue

1,214.88

1,388.37

829.03

807.56

Cost Of Revenue

904.83

1,037.07

681.94

663.47

Gross Profit

310.05

351.30

147.09

144.09

Operating Expense

96.23

206.51

105.92

122.33

Operating Income

213.82

144.78

41.18

21.76

EBITDA

239.16

173.17

-22.95

60.74

EBIT

212.84

144.45

-55.94

22.15

Pretax Income

209.97

141.49

-57.78

20.26

Tax Provision

46.53

33.58

-1.34

5.02

Net Income

157.63

104.51

-55.91

14.88

Net Income Common Stockholders

157.63

104.51

-55.91

14.88

Total Expenses

1,001.05

1,243.58

787.86

785.80

Interest Expense

2.88

2.96

1.84

1.88

Selling General And Administration

89.27

199.70

99.11

115.53

Normalized EBITDA

239.16

173.17

74.17

60.74

Normalized Income

157.63

104.51

38.96

14.88

Basic EPS

7.60

5.10

-2.74

0.76

Diluted EPS

7.51

5.06

-2.74

0.76

Tax Effect Of Unusual Items

-2.26

Tax Rate For Calcs

0.22

0.24

0.02

0.25

Total Unusual Items

-97.12

Total Unusual Items Excluding Goodwill

-97.12

Net Income From Continuing Operation Net Minority Interest

157.63

104.51

-55.91

14.88

Reconciled Depreciation

26.32

28.72

32.99

38.59

Reconciled Cost Of Revenue

885.46

1,015.16

655.76

631.68

Net Interest Income

-2.88

-2.96

-1.84

-1.88

Net Income From Continuing And Discontinued Operation

157.63

104.51

-55.91

14.88

Total Operating Income As Reported

213.82

144.78

-55.95

21.76

Diluted Average Shares

20.99

20.64

20.44

19.69

Basic Average Shares

20.75

20.50

20.44

19.66

Diluted NI Availto Com Stockholders

157.63

104.51

-55.91

14.88

Minority Interests

-5.80

-3.40

0.53

-0.36

Net Income Including Noncontrolling Interests

163.43

107.91

-56.44

15.24

Net Income Continuous Operations

163.43

107.91

-56.44

15.24

Other Income Expense

-0.98

-0.33

-97.12

0.39

Other Non Operating Income Expenses

-0.98

-0.33

0.39

Special Income Charges

-97.12

Other Special Charges

8.73

Impairment Of Capital Assets

88.39

Net Non Operating Interest Income Expense

-2.88

-2.96

-1.84

-1.88

Interest Expense Non Operating

2.88

2.96

1.84

1.88

Depreciation Amortization Depletion Income Statement

6.96

6.81

6.80

Depreciation And Amortization In Income Statement

6.96

6.81

6.80

Amortization

6.96

6.81

6.80

Amortization Of Intangibles Income Statement

6.96

6.81

6.80

Selling And Marketing Expense

22.90

24.01

22.78

23.07

General And Administrative Expense

66.37

175.69

76.32

92.46

Other Gand A

66.37

175.69

76.32

92.46

Operating Revenue

1,214.88

1,388.37

829.03

807.56

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Malibu Boats, Inc.this co.

MBUU

$469M

34.08↑ premium

0.95

2.9%

7.47

Shoe Carnival, Inc.

SCVL

$503M

9.63

0.73

7.6%

7.56

Stitch Fix, Inc.

SFIX

$501M

2.39

-14.2%

-105.75

Legacy Housing Corporation

LEGH

$498M

12.03

0.94

7.9%

9.80

Build-A-Bear Workshop, Inc.

BBW

$462M

Malibu Boats, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Malibu Boats, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on