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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, e-power 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 services; and boat or yacht brokerage services, as well as yacht charters and power catamarans. Further, it offers new or used boat finance services; arranges insurance coverage, including boat property, disability, undercoating, gel sealant, fabric protection, trailer tire and wheel protection, and casualty insurance coverage; and manufactures and sells sport yachts and yachts. Additionally, the company operates MarineMax vacations in Tortola and British Virgin Islands. It also markets and sells its products through offsite locations and print catalog. The company was incorporated in 1998 and is based in Oldsmar, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
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 | $2.3B | $83M | $-32M | $12M | -3.4% | -5.0% | -183.1% |
| 2024 | $2.4B | $173M | $38M | $-86M | 3.9% | 1.5% | -65.2% |
| 2023 | $2.4B | $242M | $109M | $-288M | 11.9% | 3.8% | -44.8% |
| 2022 | $2.3B | $285M | $198M | $18M | 25.3% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,308.10 | 2,394.71 | 2,431.01 | 2,309.29 |
| Operating Revenue | - | 2,308.10 | 2,394.71 | 2,431.01 | 2,309.29 |
| Cost Of Revenue | - | 1,502.34 | 1,559.38 | 1,629.81 | 1,559.06 |
| Gross Profit | - | 805.75 | 835.33 | 801.20 | 750.23 |
| Operating Expense | - | 540.55 | 634.53 | 672.97 | 647.16 |
| Selling General And Administration | - | 540.55 | 634.53 | 672.97 | 647.16 |
| Total Expenses | - | 2,042.89 | 2,193.90 | 2,302.78 | 2,206.22 |
| Operating Income | - | 265.20 | 200.80 | 128.23 | 103.07 |
| Total Operating Income As Reported | - | 265.20 | 200.80 | 128.23 | 34.02 |
| EBITDA | - | 284.62 | 241.83 | 172.71 | 83.34 |
| Normalized EBITDA | - | 284.62 | 241.83 | 172.71 | 152.39 |
| EBIT | - | 265.20 | 200.80 | 128.23 | 34.02 |
| Interest Expense | - | 3.28 | 53.37 | 73.90 | 71.16 |
| Net Interest Income | - | -3.28 | -53.37 | -73.90 | -71.16 |
| Other Income Expense | - | - | - | - | -69.06 |
| Interest Expense Non Operating | - | 3.28 | 53.37 | 73.90 | 71.16 |
| Net Non Operating Interest Income Expense | - | -3.28 | -53.37 | -73.90 | -71.16 |
| Pretax Income | - | 261.92 | 147.44 | 54.33 | -37.14 |
| Tax Provision | - | 63.93 | 37.96 | 15.59 | -6.38 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | -11.88 |
| Net Income Continuous Operations | - | 197.99 | 109.48 | 38.74 | -30.77 |
| Net Income From Continuing And Discontinued Operation | - | 197.99 | 109.28 | 38.07 | -31.63 |
| Net Income From Continuing Operation Net Minority Interest | - | 197.99 | 109.28 | 38.07 | -31.63 |
| Net Income | - | 197.99 | 109.28 | 38.07 | -31.63 |
| Net Income Common Stockholders | - | 197.99 | 109.28 | 38.07 | -31.63 |
| Net Income Including Noncontrolling Interests | - | 197.99 | 109.48 | 38.74 | -30.77 |
| Normalized Income | - | 197.99 | 109.28 | 38.07 | 25.55 |
| Diluted NI Availto Com Stockholders | - | 197.99 | 109.28 | 38.07 | -31.63 |
| Basic Average Shares | - | 21.71 | 21.85 | 22.27 | 22.05 |
| Diluted Average Shares | - | 22.40 | 22.43 | 23.01 | 22.05 |
| Reconciled Depreciation | - | 19.42 | 41.03 | 44.49 | 49.32 |
| Reconciled Cost Of Revenue | - | 1,502.34 | 1,559.38 | 1,629.81 | 1,559.06 |
| Total Unusual Items | - | - | 0 | 0 | -69.06 |
| Total Unusual Items Excluding Goodwill | - | - | 0 | 0 | -69.06 |
| Minority Interests | - | 0 | -0.20 | -0.67 | -0.86 |
| Special Income Charges | - | - | 0 | 0 | -69.06 |
| Impairment Of Capital Assets | - | - | 0 | 0 | 69.06 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| MarineMax, Inc.this co. | HZO | $768M | - | 0.82 | -3.4% | 22.13 |
| Movado Group, Inc. | MOV | $834M | 31.40 | 1.64 | 5.2% | 15.40 |
| Winnebago Industries, Inc. | WGO | $795M | 30.93 | 0.65 | 2.1% | 10.30 |
| EVgo, Inc. | EVGO | $782M | -18.80 | -6.69 | 35.6% | -46.15 |
| Golden Entertainment, Inc. | GDEN | $754M | -124.72 | 1.79 |
| - |
| - |
| - |
| - |
| -1.4% |
| 10.88 |
| Solid Power, Inc. | SLDP | $747M | -8.00 | 1.79 | -22.4% | -9.95 |
| Fox Factory Holding Corp. | FOXF | $744M | - | 1.11 | -81.3% | - |
| Cracker Barrel Old Country Store, Inc. | CBRL | $738M | 15.90 | 1.60 | 10.0% | 9.72 |
| Beazer Homes USA, Inc. | BZH | $708M | 15.53 | 0.57 | 3.7% | 27.79 |
| Peer Median | - | 15.53 | 1.35 | 2.9% | 10.30 | |