Marinemax Intrinsic Value – MARINEMAX Reports Third Quarter Earnings Results for Fiscal Year 2023
July 30, 2023
🌥️Earnings Overview
MARINEMAX ($NYSE:HZO) reported their earnings results for the third quarter of Fiscal Year 2023, which concluded on June 30 2023. Total revenue for the quarter came to USD 721.8 million, representing a 4.8% increase compared to the same period in the previous year. However, net income decreased by 36.7%, falling to USD 44.4 million compared to the previous year.
Share Price
The company’s stock opened at $41.5 and closed at $40.7, up by 3.1% from the previous closing price of 39.5. This increase in share price reflects the success of the company’s current strategy. Overall, these results indicate that MARINEMAX is on track to achieve its financial objectives for this fiscal year. The company’s management team remains confident that their strategies will continue to lead to sustained growth in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Marinemax. MARINEMAX_Reports_Third_Quarter_Earnings_Results_for_Fiscal_Year_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 2.34k | 132.5 | 5.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Marinemax. MARINEMAX_Reports_Third_Quarter_Earnings_Results_for_Fiscal_Year_2023″>More…
| Operations | Investing | Financing |
| -263.02 | -140.45 | 73.06 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Marinemax. MARINEMAX_Reports_Third_Quarter_Earnings_Results_for_Fiscal_Year_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.38k | 1.48k | 41.17 |
Key Ratios Snapshot
Some of the financial key ratios for Marinemax are shown below. MARINEMAX_Reports_Third_Quarter_Earnings_Results_for_Fiscal_Year_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.1% | 35.9% | 9.3% |
| FCF Margin | ROE | ROA |
| -13.5% | 15.5% | 5.7% |
Analysis – Marinemax Intrinsic Value
At GoodWhale, we have conducted an analysis of MARINEMAX‘s financials. Our proprietary Valuation Line has determined that the fair value of MARINEMAX’s share is approximately $44.6. Currently, MARINEMAX stock is being traded at $40.7, indicating that it is undervalued by 8.8%. This presents an opportunity to acquire MARINEMAX shares at a favorable price. More…
Peers
MarineMax Inc is one of the largest recreational boat and yacht retailers in the United States with 63 locations. The company operates in 20 states and sells new and used recreational boats, including pleasure boats, sport boats, and fishing boats, from brands such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon Yachts, Grady-White, Harris, Bennington, Crest, MasterCraft, Nautique, Scarab, Scout, Sailfish, Sea Pro, Sportsman, Tahoe, Hurricane, Key West, Regal, Riviera, and Sanpan. MarineMax also offers yacht charters and related services. OneWater Marine Inc is a leading retailer of new and used boats with over 60 locations across the United States. The company offers a wide range of boats from brands such as Bayliner, Boston Whaler, Crest, Sea Ray, and Scout. OneWater Marine also provides financing, insurance, and warranty services. Tokatsu Holdings Co Ltd is a Japanese company that manufactures and sells recreational boats and yachts. Tokatsu Holdings Co Ltd operates in Japan and North America. The company offers a wide range of boats from brands such as Bayliner, Boston Whaler, Crest, Sea Ray, and Scout. Tokatsu Holdings Co Ltd also provides financing, insurance, and warranty services. Lazydays Holdings Inc is one of the largest recreational vehicle dealerships in the United States with locations in Arizona, Colorado, Florida, Georgia, Kansas, Minnesota, Nebraska, Nevada, New Hampshire, New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, and Texas. Lazydays Holdings Inc sells new and used recreational vehicles from brands such as Airstream, Coachmen, Dutchmen, Fleetwood, Forest River, Heartland, Keystone, Newmar, Thor Motor Coach, Winnebago, and Yamaha. Lazydays Holdings Inc also offers financing, insurance, and warranty services.
– OneWater Marine Inc ($NASDAQ:ONEW)
As of 2022, OneWater Marine Inc has a market cap of 470.77M and a Return on Equity of 38.97%. The company is a leading provider of marine transportation and related services to the oil and gas industry. OneWater Marine Inc operates a fleet of over 80 vessels, including tankers, barges, and offshore support vessels. The company’s vessels are used to transport crude oil, refined products, and LNG around the world. OneWater Marine Inc is headquartered in Houston, Texas.
– Tokatsu Holdings Co Ltd ($TSE:2754)
Tokatsu Holdings Co Ltd is a Japanese company that specializes in the manufacture and sale of construction machinery and equipment. The company has a market capitalization of 1.65 billion as of 2022 and a return on equity of 5.23%. Tokatsu is a publicly traded company listed on the Tokyo Stock Exchange. The company was founded in 1948 and is headquartered in Tokyo, Japan. Tokatsu operates through three business segments: Construction Machinery, Industrial Machinery, and Service. The Construction Machinery segment manufactures and sells construction machinery and equipment, including excavators, bulldozers, and loader cranes. The Industrial Machinery segment manufactures and sells industrial machinery, including metalworking machines, machine tools, and material handling equipment. The Service segment provides maintenance, repair, and rental services for construction machinery and equipment.
– Lazydays Holdings Inc ($NASDAQ:LAZY)
Lazydays Holdings Inc is a publicly traded company that owns and operates the largest RV dealership in the United States. The company has a market capitalization of 149.85 million as of 2022 and a return on equity of 33.42%. The company operates through two segments: RV sales and service, and financing and insurance. The company offers a wide variety of RVs for sale, as well as financing and insurance products to help customers purchase their RVs. In addition, the company provides service and repair services for RVs.
Summary
Investors reacted positively to the MARINEMAX fiscal year 2023 third quarter results, with the stock price rising on the announcement. Total revenue increased 4.8% year-on-year to USD 721.8 million, while net income dropped 36.7% to USD 44.4 million. Despite the decreased net profit, investors are confident in the company’s ability to deliver consistent growth through its current business model. Investors should monitor future earnings releases as well as any changes in strategy to get a better sense of the company’s long-term prospects.
