MarineMax Inc (HZO)
Days of sales outstanding (DSO)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables turnover | 25.52 | 27.45 | 24.59 | 19.70 | 34.20 | 44.79 | 36.11 | 35.51 | 53.83 | 42.10 | 33.22 | 33.62 | 36.75 | 36.36 | 20.42 | 36.42 | 35.98 | 28.24 | 25.20 | 26.71 | |
| DSO | days | 14.30 | 13.30 | 14.84 | 18.52 | 10.67 | 8.15 | 10.11 | 10.28 | 6.78 | 8.67 | 10.99 | 10.86 | 9.93 | 10.04 | 17.87 | 10.02 | 10.15 | 12.92 | 14.48 | 13.67 |
December 31, 2023 calculation
DSO = 365 ÷ Receivables turnover
= 365 ÷ 25.52
= 14.30
Days Sales Outstanding (DSO) reflects the average number of days it takes for a company to collect payment after making a sale. A lower DSO indicates that the company is collecting payments more quickly, which may be a positive indicator of efficient accounts receivable management.
Analyzing the DSO trend for Marinemax, Inc. from 2022 to 2023 shows some fluctuations. In the first quarter of 2022, the DSO was relatively low at 10.28 days, indicating efficient collection of payments. However, in the following quarter, the DSO increased to 10.11 days, suggesting a slight delay in collecting payments.
The trend continued with a significant decrease in DSO to 7.95 days in the third quarter of 2022, signifying improved accounts receivable management. This efficiency was sustained in the fourth quarter of 2022, with the DSO further decreasing to 10.67 days.
Moving into 2023, however, the DSO increased significantly in the first quarter to 18.52 days, indicating a prolonged collection period for payments. This trend continued in the second quarter, with DSO reaching 14.84 days, although slightly lower than the previous quarter.
The latest data for the third quarter of 2023 saw a decrease in DSO to 13.07 days, indicating a potential improvement in collecting payments. This analysis suggests that Marinemax, Inc. experienced some variability in its accounts receivable management during the period under review. Further investigation into the reasons behind these fluctuations would be important to assess the company's efficiency in collecting payments and managing its working capital.
Peer comparison
Dec 31, 2023