MarineMax Inc (HZO)
Fixed asset turnover
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,414,053 | 2,394,706 | 2,336,875 | 2,303,568 | 2,343,334 | 2,308,098 | 2,233,644 | 2,211,435 | 2,124,424 | 2,063,257 | 1,999,709 | 1,831,685 | 1,617,065 | 1,509,713 | 1,419,087 | 1,304,277 | 1,299,388 | 1,237,153 | 1,237,608 | 1,215,368 |
| Property, plant and equipment | US$ in thousands | 532,492 | 527,552 | 521,637 | 499,418 | 501,589 | 246,011 | 226,647 | 220,569 | 217,513 | 175,463 | 166,058 | 151,254 | 149,657 | 141,934 | 141,897 | 143,168 | 144,756 | 144,298 | 143,318 | 140,883 |
| Fixed asset turnover | 4.53 | 4.54 | 4.48 | 4.61 | 4.67 | 9.38 | 9.86 | 10.03 | 9.77 | 11.76 | 12.04 | 12.11 | 10.81 | 10.64 | 10.00 | 9.11 | 8.98 | 8.57 | 8.64 | 8.63 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,414,053K ÷ $532,492K
= 4.53
The fixed asset turnover ratio for Marinemax, Inc. has shown some fluctuations over the past eight quarters.
The fixed asset turnover ratio measures the company's ability to generate sales from its investment in fixed assets such as property, plant, and equipment. A higher ratio indicates that the company is generating more sales from its investment in fixed assets.
In the most recent quarter, the fixed asset turnover ratio was 4.53, indicating that the company generated $4.53 in sales for every dollar invested in fixed assets. This was slightly lower than the ratios in the preceding two quarters, which were 4.54 and 4.48, but still indicative of efficient utilization of fixed assets to generate revenue.
However, it's worth noting that in the quarters ending in December 2022, and September 2022, the fixed asset turnover ratio saw a significant spike, reaching 9.38 and 9.86, respectively, before climbing even higher to 10.03 in the quarter ending in March 2022. This could be possibly due to either an increase in sales or a decrease in the value of fixed assets during those periods.
Overall, while the ratio has shown some fluctuations, the company appears to have been effectively utilizing its fixed assets to generate sales over the past eight quarters.
Peer comparison
Dec 31, 2023