Marine Products Corporation

MPX

Consumer CyclicalSmall CapUS Equities · NYSE / NASDAQ

AI Agents

Company Profile

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets in the United States. It offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series and Robalo outboard sport fishing boats. The company also provides center and dual consoles, and Cayman Bay Boats under the Robalo brand name. It sells its products to a network of domestic and international independent authorized dealers. Marine Products Corporation was founded in 1965 and is based in Atlanta, Georgia. Marine Products Corporation operates as a subsidiary of LOR, Inc.

Valuation

Market Cap$276M

Current Price$7.82

P/E Ratio24.44

P/B Ratio2.19

EV / EBITDA13.15

EV / Sales0.95

Profitability

Operating Margin-

Net Profit Margin4.7%

EBITDA Margin7.0%

Returns

ROE9.1%

ROCE-

ROIC %12.4%

ROA7.7%

Solvency

Current Ratio5.37

Debt / Equity0.00

Debt / Assets0.00

CFO / Net Profit1.45

Price History▼ 7.78% 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$244M▲ 3.3%

EBITDA$17M

Net Profit$11M▼ 36.2%

Cash from Ops (CFO)$16M

Free Cash Flow (FCF)$15M

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	$244M	$17M	$11M	$15M	9.1%	3.3%	-36.2%
2024	$237M	$21M	$18M	$25M	13.8%	-38.4%	-57.2%
2023	$384M	$50M	$42M	$47M	27.5%	0.7%	3.3%
2022	$381M	$54M	$40M	$47M	32.4%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2022	2023	2024	2025
Total Revenue	381	383.73	236.56	244.42
Cost Of Revenue	287.28	293.35	191.06	197.64
Gross Profit	93.72	90.38	45.50	46.77
Operating Expense	41.92	43.21	27.38	32.75
Operating Income	51.80	47.17	18.12	14.03
EBITDA	53.70	49.58	20.91	17.17
EBIT	51.80	47.17	18.12	14.03
Pretax Income	52.13	52.06	21.14	15.77
Tax Provision	11.79	10.37	3.29	4.38
Net Income	40.35	41.70	17.85	11.38
Net Income Common Stockholders	39.49	40.70	16.75	10.87
Total Expenses	329.20	336.56	218.43	230.39
Interest Income	0.34	2.86	2.88	1.74
Selling General And Administration	41.92	43.21	27.38	32.75
Normalized EBITDA	53.70	47.55	20.76	17.17
Normalized Income	40.35	40.06	17.73	11.38
Basic EPS	1.18	1.21	0.50	0.32
Diluted EPS	1.18	1.21	0.50	0.32
Tax Effect Of Unusual Items	0	0.41	0.02	0
Tax Rate For Calcs	0.23	0.20	0.16	0.28
Total Unusual Items	0	2.04	0.14	0
Total Unusual Items Excluding Goodwill	0	2.04	0.14	0
Net Income From Continuing Operation Net Minority Interest	40.35	41.70	17.85	11.38
Reconciled Depreciation	1.91	2.42	2.79	3.14
Reconciled Cost Of Revenue	287.28	293.35	191.06	197.64
Net Interest Income	0.34	2.86	2.88	1.74
Net Income From Continuing And Discontinued Operation	40.35	41.70	17.85	11.38
Total Operating Income As Reported	51.80	49.20	18.27	14.03
Diluted Average Shares	34.18	34.44	34.69	34.05
Basic Average Shares	34.18	34.44	34.69	34.05
Diluted NI Availto Com Stockholders	39.49	40.70	16.75	10.87
Otherunder Preferred Stock Dividend	0.86	1	1.11	0.51
Net Income Including Noncontrolling Interests	40.35	41.70	17.85	11.38
Net Income Continuous Operations	40.35	41.70	17.85	11.38
Other Income Expense	0	2.04	0.14	0
Special Income Charges	0	2.04	0.14	0
Gain On Sale Of Ppe	0	2.04	0.14	0
Net Non Operating Interest Income Expense	0.34	2.86	2.88	1.74
Interest Income Non Operating	0.34	2.86	2.88	1.74
Operating Revenue	381	383.73	236.56	244.42

Peer Comparison

Consumer Cyclical sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Marine Products Corporationthis co.	MPX	$276M	24.44↑ premium	2.19	9.1%	13.15
Kingsway Financial Services Inc.	KFS	$319M	-	21.00	-31.2%	132.56
Strattec Security Corporation	STRT	$312M	11.30	1.28	7.6%	4.77
Hamilton Beach Brands Holding Company	HBB	$273M	10.32	1.48	14.5%	7.39
Rocky Brands, Inc.

Learn while you research

Hand-picked academy chapters to deepen your understanding of Marine Products Corporation 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 Stock Market Risks

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$244M

$17M

$11M

$15M

9.1%

3.3%

-36.2%

2024

$237M

$21M

$18M

$25M

13.8%

-38.4%

-57.2%

2023

$384M

$50M

$42M

$47M

27.5%

0.7%

3.3%

2022

$381M

$54M

$40M

$47M

32.4%

Metric

2022

2023

2024

2025

Total Revenue

381

383.73

236.56

244.42

Cost Of Revenue

287.28

293.35

191.06

197.64

Gross Profit

93.72

90.38

45.50

46.77

Operating Expense

41.92

43.21

27.38

32.75

Operating Income

51.80

47.17

18.12

14.03

EBITDA

53.70

49.58

20.91

17.17

EBIT

51.80

47.17

18.12

14.03

Pretax Income

52.13

52.06

21.14

15.77

Tax Provision

11.79

10.37

3.29

4.38

Net Income

40.35

41.70

17.85

11.38

Net Income Common Stockholders

39.49

40.70

16.75

10.87

Total Expenses

329.20

336.56

218.43

230.39

Interest Income

0.34

2.86

2.88

1.74

Selling General And Administration

41.92

43.21

27.38

32.75

Normalized EBITDA

53.70

47.55

20.76

17.17

Normalized Income

40.35

40.06

17.73

11.38

Basic EPS

1.18

1.21

0.50

0.32

Diluted EPS

1.18

1.21

0.50

0.32

Tax Effect Of Unusual Items

0.41

0.02

Tax Rate For Calcs

0.23

0.20

0.16

0.28

Total Unusual Items

2.04

0.14

Total Unusual Items Excluding Goodwill

2.04

0.14

Net Income From Continuing Operation Net Minority Interest

40.35

41.70

17.85

11.38

Reconciled Depreciation

1.91

2.42

2.79

3.14

Reconciled Cost Of Revenue

287.28

293.35

191.06

197.64

Net Interest Income

0.34

2.86

2.88

1.74

Net Income From Continuing And Discontinued Operation

40.35

41.70

17.85

11.38

Total Operating Income As Reported

51.80

49.20

18.27

14.03

Diluted Average Shares

34.18

34.44

34.69

34.05

Basic Average Shares

34.18

34.44

34.69

34.05

Diluted NI Availto Com Stockholders

39.49

40.70

16.75

10.87

Otherunder Preferred Stock Dividend

0.86

1.11

0.51

Net Income Including Noncontrolling Interests

40.35

41.70

17.85

11.38

Net Income Continuous Operations

40.35

41.70

17.85

11.38

Other Income Expense

2.04

0.14

Special Income Charges

2.04

0.14

Gain On Sale Of Ppe

2.04

0.14

Net Non Operating Interest Income Expense

0.34

2.86

2.88

1.74

Interest Income Non Operating

0.34

2.86

2.88

1.74

Operating Revenue

381

383.73

236.56

244.42

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Marine Products Corporationthis co.

MPX

$276M

24.44↑ premium

2.19

9.1%

13.15

Kingsway Financial Services Inc.

KFS

$319M

21.00

-31.2%

132.56

Strattec Security Corporation

STRT

$312M

11.30

1.28

7.6%

4.77

Hamilton Beach Brands Holding Company

HBB

$273M

10.32

1.48

14.5%

7.39

Rocky Brands, Inc.

Marine Products Corporation

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

Marine Products Corporation

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