MARINEMAX INC
HZO · Retail-Auto & Home Supply Stores · 22.0M shares · -0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$20M (gross $2M, SBC $22M)
Reference price $27.52 · est. market cap ~$606M — last insider sale, 2025-08-25 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D51Largest boat/yacht retailer in a discretionary down-cycle, posting a net loss and falling revenue.
Strengths
- Scale and premium-brand exclusivity (Sea Ray, Boston Whaler, Azimut) plus IGY marina/superyacht diversification
- Operating margin still positive (75th pct) and recurring marina/services revenue
Risks
- Net loss (ROE/ROA negative), net income growth -1.83 (7th pct), revenue -5% (19th pct)
- Weak interest coverage (0.48) and quick ratio 0.32; high exposure to luxury discretionary cycle
Notable findings
- No interest coverageInterest coverage 0.48 (cannot cover interest)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -1.4%)
- Customer concentration~18% of revenue from one customer/distributor — Sales of new Brunswick boats accounted for approximately 18% of our revenue in fiscal 2025
- Strong balance sheetStrong balance sheet — $170M cash & investments
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
32.5%
Operating margin
1.5%
Net margin
-1.4%
Return on equity
-3.4%
Return on assets
-1.3%
ROIC
2.1%
Revenue growth (QoQ)
4.4%
Net-income growth
-183.1%
Debt / equity
0.4×
Net debt / EBITDA
2.2×
Interest coverage
0.5×
Current ratio
1.2×
Free cash flow
$12M
EBITDA
$83M
Tangible book value
$395M
Cash & investments
$170M
Stock comp / revenue
0.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-07 | Borst George E | Option exercise | 5.0K | $16.97 |
| 2025-12-31 | Johnson Adam M. | Grant | 825 | $24.23 |
| 2025-11-19 | Alvare Manuel A. III | Option exercise | 3.0K | — |
| 2025-11-19 | Alvare Manuel A. III | Tax withheld | 731 | $22.38 |
| 2025-11-14 | Johnson Adam M. | Option exercise | 4.6K | — |
| 2025-11-14 | Borst George E | Option exercise | 4.6K | — |
| 2025-11-14 | White Rebecca | Option exercise | 4.6K | — |
| 2025-11-14 | Romero Mercedes | Option exercise | 4.6K | — |
| 2025-11-14 | Biumi Bonnie | Option exercise | 4.6K | — |
| 2025-09-30 | Cassella Anthony E. Jr. | Option exercise | 4.8K | — |
| 2025-09-30 | Cassella Anthony E. Jr. | Option exercise | 983 | — |
| 2025-09-30 | Cassella Anthony E. Jr. | Option exercise | 242 | — |
| 2025-09-30 | Cassella Anthony E. Jr. | Option exercise | 1.5K | — |
| 2025-09-30 | Cassella Anthony E. Jr. | Option exercise | 1.6K | — |
| 2025-09-30 | Cassella Anthony E. Jr. | Tax withheld | 2.2K | $25.33 |
| 2025-09-30 | McGill W Brett | Option exercise | 58K | — |
| 2025-09-30 | McGill W Brett | Option exercise | 15K | — |
| 2025-09-30 | McGill W Brett | Option exercise | 19K | — |
| 2025-09-30 | McGill W Brett | Option exercise | 20K | — |
| 2025-09-30 | McGill W Brett | Tax withheld | 41K | $25.33 |
| 2025-09-30 | Berg Shawn | Option exercise | 4.9K | — |
| 2025-09-30 | Berg Shawn | Option exercise | 1.2K | — |
| 2025-09-30 | Berg Shawn | Option exercise | 1.8K | — |
| 2025-09-30 | Berg Shawn | Option exercise | 2.0K | — |
| 2025-09-30 | Berg Shawn | Tax withheld | 2.4K | $25.33 |
| 2025-09-30 | Alvare Manuel A. III | Option exercise | 2.4K | — |
| 2025-09-30 | Alvare Manuel A. III | Option exercise | 607 | — |
| 2025-09-30 | Alvare Manuel A. III | Option exercise | 506 | — |
| 2025-09-30 | Alvare Manuel A. III | Option exercise | 747 | — |
| 2025-09-30 | Alvare Manuel A. III | Option exercise | 1.4K | — |
| 2025-09-30 | Alvare Manuel A. III | Tax withheld | 1.4K | $25.33 |
| 2025-09-30 | MCLAMB MICHAEL H | Option exercise | 13K | — |
| 2025-09-30 | MCLAMB MICHAEL H | Option exercise | 3.2K | — |
| 2025-09-30 | MCLAMB MICHAEL H | Option exercise | 4.0K | — |
| 2025-09-30 | MCLAMB MICHAEL H | Option exercise | 4.4K | — |
| 2025-09-30 | MCLAMB MICHAEL H | Tax withheld | 5.9K | $25.33 |
| 2025-09-30 | Langbehn Kyle | Option exercise | 13K | — |
| 2025-09-30 | Langbehn Kyle | Option exercise | 3.2K | — |
| 2025-09-30 | Langbehn Kyle | Option exercise | 4.0K | — |
| 2025-09-30 | Langbehn Kyle | Option exercise | 6.7K | — |
| 2025-09-30 | Langbehn Kyle | Tax withheld | 8.6K | $25.33 |
| 2025-09-30 | Cashman Charles A | Option exercise | 14K | — |
| 2025-09-30 | Cashman Charles A | Option exercise | 3.5K | — |
| 2025-09-30 | Cashman Charles A | Option exercise | 4.5K | — |
| 2025-09-30 | Cashman Charles A | Option exercise | 4.8K | — |
| 2025-09-30 | Cashman Charles A | Tax withheld | 6.5K | $25.33 |
| 2025-09-30 | Johnson Adam M. | Grant | 790 | $25.33 |
| 2025-08-25 | McGill W Brett | Sell | 59K | $27.52 |
| 2025-08-25 | McGill W Brett | Sell | 600 | $28.17 |
| 2025-06-30 | Johnson Adam M. | Grant | 795 | $25.14 |
| 2025-03-31 | Romero Mercedes | Grant | 966 | $21.50 |
| 2025-03-31 | Johnson Adam M. | Grant | 931 | $21.50 |
| 2025-03-11 | Biumi Bonnie | Buy | 1.0K | $23.37 |
| 2025-02-24 | Biumi Bonnie | Buy | 1.0K | $26.50 |
| 2025-01-27 | Moore Clint | Sell | 4.1K | $30.63 |
| 2025-01-27 | Cassella Anthony E. Jr. | Sell | 4.0K | $31.06 |
| 2024-12-31 | Romero Mercedes | Grant | 717 | $28.95 |
| 2024-12-31 | Johnson Adam M. | Grant | 691 | $28.95 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (4)
- Azimut-Benetti Group
- Brunswick Corporation
- MasterCraft
- Williams Jet Tenders Ltd.
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-04-23 | ResultsExhibits | filing ↗ |
| 2026-03-04 | OtherExhibits | filing ↗ |
| 2026-03-03 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-01-29 | ResultsExhibits | filing ↗ |
| 2026-01-20 | Exec/director change | filing ↗ |
| 2025-11-13 | ResultsExhibits | filing ↗ |
| 2025-10-09 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-09-30 | Exec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-04-23 | 2026-04-23 | 0001193125-26-171882 ↗ |
| 10-Q | 2026-04-23 | 2026-03-31 | 0001193125-26-173623 ↗ |
| 8-K | 2026-03-04 | 2026-03-04 | 0001193125-26-091535 ↗ |
| 8-K | 2026-03-03 | 2026-03-03 | 0001193125-26-088751 ↗ |
| 10-Q | 2026-01-29 | 2025-12-31 | 0001193125-26-029291 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001193125-26-028226 ↗ |
| 8-K | 2026-01-20 | 2026-01-16 | 0001193125-26-016532 ↗ |
| 10-K | 2025-11-17 | 2025-09-30 | 0001193125-25-284680 ↗ |
| 8-K | 2025-11-13 | 2025-11-13 | 0001193125-25-279026 ↗ |
| 8-K | 2025-10-09 | 2025-10-09 | 0001193125-25-236019 ↗ |
| 8-K | 2025-09-30 | 2025-09-25 | 0001193125-25-225289 ↗ |
| 8-K | 2025-08-06 | 2025-08-04 | 0000950170-25-103964 ↗ |