MarineMax Inc. (FL) Common Stock (HZO)

FairStock Score: 42/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with what I know. MarineMax sells boats and yachts, a cyclical, discretionary business. From the filed figures, the arc is clear: in FY2023 net income was $109.3M on $2.4B revenue; in FY2024 it fell to $38.1M; in FY2025 it became a loss of $31.6M on $2.3B revenue. That is a deteriorating earnings record, and the FairStock Lynch category calls it a TURNAROUND because of a loss in the latest year after earlier profits. The most recent filed quarter, fiscal Q3 2026 ended 2026-06-30, showed net income of $15.4M, or $0.66 per diluted share, versus a fiscal Q3 2025 loss of $52.1M, or -$2.42 per share. That is a real swing, though revenue slipped from $657.2M to $611.3M. Financial health is mixed: debt-to-equity is 1.15 and the Altman Z-Score is 1.36, but trailing free cash flow was $178.0M, a 15.4% FCF yield, and the Piotroski F-Score is 8/9. Valuation asks a lot. At the 2026-10-13 close of $52.39, FairStock's P/E is 327.44, P/B 1.21, and its Graham Number is $12.46, giving a -320.47% margin of safety. FairStock's ROE is 0.50% and ROCE 1.65%. A boat retailer rarely has a wide moat; this one has no durable pricing power evident in the numbers. The price already reflects a successful turnaround, while the business remains cyclical and levered. I would want proof that the latest profit is recurring, not just a good quarter.

In plain English: MarineMax sells new and used boats and yachts, along with marine parts and services. The business looks weak overall: it lost money in fiscal 2025 after making profits in fiscal 2024 and fiscal 2023, though the latest reported quarter did show a profit. At the recent price of $52.39, the stock looks expensive compared with the company's recent earnings and accounting value, and it is trading near the top of its 52-week range.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-06-30) · fiscal Q2 2026 10-Q (period ended 2026-03-31) · fiscal Q1 2026 10-Q (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-09-30) · FY2024 10-K (period ended 2024-09-30) · FY2023 10-K (period ended 2023-09-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer