MarineMax Inc (HZO)
Fixed asset turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,431,010 | 2,394,710 | 2,308,100 | 2,063,260 | 1,509,710 |
| Property, plant and equipment | US$ in thousands | 532,766 | 527,552 | 246,011 | 175,463 | 141,934 |
| Fixed asset turnover | 4.56 | 4.54 | 9.38 | 11.76 | 10.64 |
September 30, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,431,010K ÷ $532,766K
= 4.56
MarineMax Inc's fixed asset turnover ratio has shown fluctuation over the past five years. In September 2020, the company had a fixed asset turnover ratio of 10.64, indicating that for every dollar invested in fixed assets, the company generated $10.64 in revenue. This ratio decreased to 11.76 in September 2021, then further decreased to 9.38 in September 2022, and remained relatively stable at 4.54 in September 2023. Notably, in September 2024, the fixed asset turnover ratio improved to 4.56.
The varying trend in fixed asset turnover may suggest changes in the efficiency of MarineMax Inc in generating revenue from its fixed assets. The decrease in the ratio from 2020 to 2022 could indicate a potential decrease in revenue generated per dollar invested in fixed assets, possibly due to a slower growth in revenue compared to the increase in fixed assets. However, the slight improvement in the fixed asset turnover ratio in 2024 suggests that the company may have managed to enhance its utilization of fixed assets to generate revenue more effectively.
It is important for investors and stakeholders to monitor the fixed asset turnover ratio over time to assess the company's operational efficiency and ability to generate revenue from its fixed assets. Further analysis in combination with other financial metrics and industry benchmarks would provide a more comprehensive understanding of MarineMax Inc's financial performance and asset management strategies.
Peer comparison
Sep 30, 2024