MARINEMAX INC (HZO) Stock Fundamental Analysis
NYSE:HZO - New York Stock Exchange, Inc. - US5679081084 - Common Stock - Currency: USD
We assign a fundamental rating of 3 out of 10 to HZO. HZO was compared to 121 industry peers in the Specialty Retail industry. There are concerns on the financial health of HZO while its profitability can be described as average. HZO has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
HZO had positive earnings in the past year.
HZO had a positive operating cash flow in the past year.
HZO had positive earnings in each of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: HZO reported negative operating cash flow in multiple years.
1.2 Ratios
HZO has a Return On Assets of 2.13%. This is comparable to the rest of the industry: HZO outperforms 56.20% of its industry peers.
With a decent Return On Equity value of 5.73%, HZO is doing good in the industry, outperforming 63.64% of the companies in the same industry.
The Return On Invested Capital of HZO (4.62%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for HZO is below the industry average of 13.07%.
The 3 year average ROIC (9.69%) for HZO is well above the current ROIC(4.62%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.13% | ||
| ROE | 5.73% | ||
| ROIC | 4.62% |
ROA(3y)6.87%
ROA(5y)9.12%
ROE(3y)13.71%
ROE(5y)16.71%
ROIC(3y)9.69%
ROIC(5y)12.16%
1.3 Margins
The Profit Margin of HZO (2.35%) is better than 61.16% of its industry peers.
HZO's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 6.18%, HZO is in the better half of the industry, outperforming 74.38% of the companies in the same industry.
HZO's Operating Margin has improved in the last couple of years.
HZO has a worse Gross Margin (32.82%) than 60.33% of its industry peers.
In the last couple of years the Gross Margin of HZO has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.18% | ||
| PM (TTM) | 2.35% | ||
| GM | 32.82% |
OM growth 3Y-19.61%
OM growth 5Y1.53%
PM growth 3Y-40.71%
PM growth 5Y-11.66%
GM growth 3Y1.03%
GM growth 5Y4.78%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HZO is still creating some value.
Compared to 1 year ago, HZO has more shares outstanding
Compared to 5 years ago, HZO has more shares outstanding
Compared to 1 year ago, HZO has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.80, we must say that HZO is in the distress zone and has some risk of bankruptcy.
HZO's Altman-Z score of 1.80 is in line compared to the rest of the industry. HZO outperforms 41.32% of its industry peers.
HZO has a Debt/Equity ratio of 1.17. This is a high value indicating a heavy dependency on external financing.
HZO's Debt to Equity ratio of 1.17 is in line compared to the rest of the industry. HZO outperforms 41.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.8 |
ROIC/WACC0.49
WACC9.37%
2.3 Liquidity
HZO has a Current Ratio of 1.16. This is a normal value and indicates that HZO is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of HZO (1.16) is worse than 63.64% of its industry peers.
HZO has a Quick Ratio of 1.16. This is a bad value and indicates that HZO is not financially healthy enough and could expect problems in meeting its short term obligations.
HZO's Quick ratio of 0.31 is on the low side compared to the rest of the industry. HZO is outperformed by 71.90% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.16 | ||
| Quick Ratio | 0.31 |
3. Growth
3.1 Past
The earnings per share for HZO have decreased strongly by -31.31% in the last year.
Measured over the past 5 years, HZO shows a small growth in Earnings Per Share. The EPS has been growing by 5.01% on average per year.
Looking at the last year, HZO shows a decrease in Revenue. The Revenue has decreased by -0.24% in the last year.
HZO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.46% yearly.
EPS 1Y (TTM)-31.31%
EPS 3Y-32.09%
EPS 5Y5.01%
EPS Q2Q%27.78%
Revenue 1Y (TTM)-0.24%
Revenue growth 3Y5.62%
Revenue growth 5Y14.46%
Sales Q2Q%8.34%
3.2 Future
The Earnings Per Share is expected to grow by 20.59% on average over the next years. This is a very strong growth
HZO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.85% yearly.
EPS Next Y-10%
EPS Next 2Y13.64%
EPS Next 3Y20.59%
EPS Next 5YN/A
Revenue Next Year-1.69%
Revenue Next 2Y1%
Revenue Next 3Y1.85%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 12.92 indicates a correct valuation of HZO.
Compared to the rest of the industry, the Price/Earnings ratio of HZO indicates a rather cheap valuation: HZO is cheaper than 80.99% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.45, HZO is valued rather cheaply.
HZO is valuated reasonably with a Price/Forward Earnings ratio of 10.15.
81.82% of the companies in the same industry are more expensive than HZO, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 21.90. HZO is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.92 | ||
| Fwd PE | 10.15 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, HZO is valued cheaper than 90.91% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 3.91 |
4.3 Compensation for Growth
HZO's earnings are expected to grow with 20.59% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)2.58
EPS Next 2Y13.64%
EPS Next 3Y20.59%
5. Dividend
5.1 Amount
HZO does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
27.78
+0.09 (+0.33%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)
Earnings (Next)
Inst Owners95.44%
Inst Owner Change5.54%
Ins Owners3.03%
Ins Owner Change-0.26%
Market Cap596.44M
Analysts81.54
Price Target34.53 (24.3%)
Short Float %16.02%
Short Ratio8.77
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)136.46%
Min EPS beat(2)83.44%
Max EPS beat(2)189.48%
EPS beat(4)3
Avg EPS beat(4)64.64%
Min EPS beat(4)-20.95%
Max EPS beat(4)189.48%
EPS beat(8)4
Avg EPS beat(8)15.81%
EPS beat(12)6
Avg EPS beat(12)9.76%
EPS beat(16)10
Avg EPS beat(16)14.92%
Revenue beat(2)1
Avg Revenue beat(2)1.83%
Min Revenue beat(2)-4.39%
Max Revenue beat(2)8.06%
Revenue beat(4)2
Avg Revenue beat(4)0.65%
Min Revenue beat(4)-4.44%
Max Revenue beat(4)8.06%
Revenue beat(8)5
Avg Revenue beat(8)2.34%
Revenue beat(12)6
Avg Revenue beat(12)0.09%
Revenue beat(16)9
Avg Revenue beat(16)0.73%
PT rev (1m)1.28%
PT rev (3m)-12.22%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-26.56%
EPS NY rev (1m)1.1%
EPS NY rev (3m)-20.01%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.93%
Revenue NY rev (1m)0.12%
Revenue NY rev (3m)-0.45%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.92 | ||
| Fwd PE | 10.15 | ||
| P/S | 0.25 | ||
| P/FCF | N/A | ||
| P/OCF | 49.96 | ||
| P/B | 0.6 | ||
| P/tB | 1.64 | ||
| EV/EBITDA | 3.91 |
EPS(TTM)2.15
EY7.74%
EPS(NY)2.74
Fwd EY9.86%
FCF(TTM)-2.37
FCFYN/A
OCF(TTM)0.56
OCFY2%
SpS112.75
BVpS46.27
TBVpS16.99
PEG (NY)N/A
PEG (5Y)2.58
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.13% | ||
| ROE | 5.73% | ||
| ROCE | 9.75% | ||
| ROIC | 4.62% | ||
| ROICexc | 5.06% | ||
| ROICexgc | 7.14% | ||
| OM | 6.18% | ||
| PM (TTM) | 2.35% | ||
| GM | 32.82% | ||
| FCFM | N/A |
ROA(3y)6.87%
ROA(5y)9.12%
ROE(3y)13.71%
ROE(5y)16.71%
ROIC(3y)9.69%
ROIC(5y)12.16%
ROICexc(3y)11.72%
ROICexc(5y)15.7%
ROICexgc(3y)16.73%
ROICexgc(5y)22.44%
ROCE(3y)16.44%
ROCE(5y)19.71%
ROICexcg growth 3Y-46.03%
ROICexcg growth 5Y-2.42%
ROICexc growth 3Y-44.7%
ROICexc growth 5Y-7.52%
OM growth 3Y-19.61%
OM growth 5Y1.53%
PM growth 3Y-40.71%
PM growth 5Y-11.66%
GM growth 3Y1.03%
GM growth 5Y4.78%
F-Score4
Asset Turnover0.91
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.17 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.92 | ||
| Cap/Depr | 135.43% | ||
| Cap/Sales | 2.6% | ||
| Interest Coverage | 1.89 | ||
| Cash Conversion | 6.09% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.16 | ||
| Quick Ratio | 0.31 | ||
| Altman-Z | 1.8 |
F-Score4
WACC9.37%
ROIC/WACC0.49
Cap/Depr(3y)198.93%
Cap/Depr(5y)172.82%
Cap/Sales(3y)2.58%
Cap/Sales(5y)1.97%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-31.31%
EPS 3Y-32.09%
EPS 5Y5.01%
EPS Q2Q%27.78%
EPS Next Y-10%
EPS Next 2Y13.64%
EPS Next 3Y20.59%
EPS Next 5YN/A
Revenue 1Y (TTM)-0.24%
Revenue growth 3Y5.62%
Revenue growth 5Y14.46%
Sales Q2Q%8.34%
Revenue Next Year-1.69%
Revenue Next 2Y1%
Revenue Next 3Y1.85%
Revenue Next 5YN/A
EBIT growth 1Y0.15%
EBIT growth 3Y-15.1%
EBIT growth 5Y16.21%
EBIT Next Year13.69%
EBIT Next 3Y14.57%
EBIT Next 5YN/A
FCF growth 1Y83.85%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y104.54%
OCF growth 3YN/A
OCF growth 5YN/A