MARINEMAX INC (HZO) Stock Fundamental Analysis
NYSE:HZO - New York Stock Exchange, Inc. - US5679081084 - Common Stock - Currency: USD
HZO gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 121 industry peers in the Specialty Retail industry. While HZO is still in line with the averages on profitability rating, there are concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on HZO.
1. Profitability
1.1 Basic Checks
HZO had positive earnings in the past year.
HZO had a negative operating cash flow in the past year.
Each year in the past 5 years HZO has been profitable.
In multiple years HZO reported negative operating cash flow during the last 5 years.
1.2 Ratios
HZO has a Return On Assets (2.10%) which is in line with its industry peers.
Looking at the Return On Equity, with a value of 5.56%, HZO is in the better half of the industry, outperforming 63.64% of the companies in the same industry.
With a Return On Invested Capital value of 4.61%, HZO perfoms like the industry average, outperforming 54.55% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for HZO is below the industry average of 14.45%.
The last Return On Invested Capital (4.61%) for HZO is well below the 3 year average (9.69%), which needs to be investigated, but indicates that HZO had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.1% | ||
| ROE | 5.56% | ||
| ROIC | 4.61% |
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
Looking at the Profit Margin, with a value of 2.33%, HZO is in the better half of the industry, outperforming 61.98% of the companies in the same industry.
In the last couple of years the Profit Margin of HZO has declined.
Looking at the Operating Margin, with a value of 6.25%, HZO is in the better half of the industry, outperforming 71.90% of the companies in the same industry.
HZO's Operating Margin has improved in the last couple of years.
HZO has a Gross Margin (33.53%) which is in line with its industry peers.
HZO's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 6.25% | ||
| PM (TTM) | 2.33% | ||
| GM | 33.53% |
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
The number of shares outstanding for HZO has been increased compared to 5 years ago.
The debt/assets ratio for HZO is higher compared to a year ago.
2.2 Solvency
HZO has an Altman-Z score of 1.76. This is a bad value and indicates that HZO is not financially healthy and even has some risk of bankruptcy.
HZO has a Altman-Z score (1.76) which is in line with its industry peers.
A Debt/Equity ratio of 1.15 is on the high side and indicates that HZO has dependencies on debt financing.
HZO has a Debt to Equity ratio (1.15) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.76 |
ROIC/WACC0.53
WACC8.63%
2.3 Liquidity
A Current Ratio of 1.19 indicates that HZO should not have too much problems paying its short term obligations.
HZO has a Current ratio of 1.19. This is in the lower half of the industry: HZO underperforms 61.16% of its industry peers.
A Quick Ratio of 0.24 indicates that HZO may have some problems paying its short term obligations.
HZO has a Quick ratio of 0.24. This is amonst the worse of the industry: HZO underperforms 80.99% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.19 | ||
| Quick Ratio | 0.24 |
3. Growth
3.1 Past
HZO shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -49.76%.
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.
The Revenue has decreased by -1.73% in the past year.
The Revenue has been growing by 14.46% on average over the past years. This is quite good.
EPS 1Y (TTM)-49.76%
EPS 3Y-32.09%
EPS 5Y5.01%
EPS Q2Q%-10.53%
Revenue 1Y (TTM)-1.73%
Revenue growth 3Y5.62%
Revenue growth 5Y14.46%
Sales Q2Q%-11.15%
3.2 Future
HZO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 23.77% yearly.
HZO is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.95% yearly.
EPS Next Y12.52%
EPS Next 2Y25.36%
EPS Next 3Y23.77%
EPS Next 5YN/A
Revenue Next Year-1.21%
Revenue Next 2Y2.23%
Revenue Next 3Y1.95%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 8.95, the valuation of HZO can be described as reasonable.
Based on the Price/Earnings ratio, HZO is valued cheaply inside the industry as 84.30% of the companies are valued more expensively.
HZO is valuated cheaply when we compare the Price/Earnings ratio to 28.29, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 5.64, the valuation of HZO can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of HZO indicates a rather cheap valuation: HZO is cheaper than 92.56% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.08, HZO is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.95 | ||
| Fwd PE | 5.64 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HZO indicates a rather cheap valuation: HZO is cheaper than 88.43% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 3.43 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as HZO's earnings are expected to grow with 23.77% in the coming years.
PEG (NY)0.72
PEG (5Y)1.79
EPS Next 2Y25.36%
EPS Next 3Y23.77%
5. Dividend
5.1 Amount
No dividends for HZO!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
18.8
+0.72 (+3.98%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)
Earnings (Next)
Inst Owners88.02%
Inst Owner Change0%
Ins Owners2.85%
Ins Owner Change2.39%
Market Cap426.95M
Analysts81.54
Price Target39.34 (109.26%)
Short Float %11.79%
Short Ratio7.89
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)1
Avg EPS beat(2)84.26%
Min EPS beat(2)-20.95%
Max EPS beat(2)189.48%
EPS beat(4)2
Avg EPS beat(4)25.56%
Min EPS beat(4)-72.88%
Max EPS beat(4)189.48%
EPS beat(8)3
Avg EPS beat(8)1.56%
EPS beat(12)6
Avg EPS beat(12)5.43%
EPS beat(16)10
Avg EPS beat(16)17.53%
Revenue beat(2)0
Avg Revenue beat(2)-4.42%
Min Revenue beat(2)-4.44%
Max Revenue beat(2)-4.39%
Revenue beat(4)1
Avg Revenue beat(4)-1.92%
Min Revenue beat(4)-4.44%
Max Revenue beat(4)3.36%
Revenue beat(8)4
Avg Revenue beat(8)0.4%
Revenue beat(12)6
Avg Revenue beat(12)0.38%
Revenue beat(16)9
Avg Revenue beat(16)1.26%
PT rev (1m)0%
PT rev (3m)-3.27%
EPS NQ rev (1m)-7.4%
EPS NQ rev (3m)-31.43%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.65%
Revenue NQ rev (1m)0.09%
Revenue NQ rev (3m)0.5%
Revenue NY rev (1m)0.04%
Revenue NY rev (3m)-0.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.95 | ||
| Fwd PE | 5.64 | ||
| P/S | 0.18 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 0.43 | ||
| P/tB | 1.16 | ||
| EV/EBITDA | 3.43 |
EPS(TTM)2.1
EY11.17%
EPS(NY)3.33
Fwd EY17.72%
FCF(TTM)-6.52
FCFYN/A
OCF(TTM)-3.64
OCFYN/A
SpS104.46
BVpS43.75
TBVpS16.16
PEG (NY)0.72
PEG (5Y)1.79
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.1% | ||
| ROE | 5.56% | ||
| ROCE | 9.61% | ||
| ROIC | 4.61% | ||
| ROICexc | 4.92% | ||
| ROICexgc | 6.88% | ||
| OM | 6.25% | ||
| PM (TTM) | 2.33% | ||
| GM | 33.53% | ||
| 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-Score2
Asset Turnover0.9
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.91 | ||
| Cap/Depr | 144.87% | ||
| Cap/Sales | 2.76% | ||
| Interest Coverage | 1.85 | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.19 | ||
| Quick Ratio | 0.24 | ||
| Altman-Z | 1.76 |
F-Score2
WACC8.63%
ROIC/WACC0.53
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)-49.76%
EPS 3Y-32.09%
EPS 5Y5.01%
EPS Q2Q%-10.53%
EPS Next Y12.52%
EPS Next 2Y25.36%
EPS Next 3Y23.77%
EPS Next 5YN/A
Revenue 1Y (TTM)-1.73%
Revenue growth 3Y5.62%
Revenue growth 5Y14.46%
Sales Q2Q%-11.15%
Revenue Next Year-1.21%
Revenue Next 2Y2.23%
Revenue Next 3Y1.95%
Revenue Next 5YN/A
EBIT growth 1Y-19.16%
EBIT growth 3Y-15.1%
EBIT growth 5Y16.21%
EBIT Next Year27.06%
EBIT Next 3Y19.04%
EBIT Next 5YN/A
FCF growth 1Y-11.49%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y5.87%
OCF growth 3YN/A
OCF growth 5YN/A