MarineMax Inc (HZO)
Inventory turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,629,810 | 1,559,380 | 1,502,340 | 1,403,820 | 1,111,000 |
| Inventory | US$ in thousands | 906,641 | 812,830 | 454,359 | 230,984 | 298,002 |
| Inventory turnover | 1.80 | 1.92 | 3.31 | 6.08 | 3.73 |
September 30, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,629,810K ÷ $906,641K
= 1.80
MarineMax Inc's inventory turnover has exhibited fluctuations over the past five years. The inventory turnover ratio was 1.80 in 2024, indicating that the company turned over its inventory approximately 1.80 times during the year. This represents a slight decrease from the previous year's ratio of 1.92.
Comparing the current ratio to earlier years, we observe a decreasing trend from 3.31 in 2022 and 6.08 in 2021. Although the ratio has declined, it remains higher than in 2020 when it was 3.73. A lower inventory turnover ratio may suggest that MarineMax Inc is carrying more inventory relative to its sales, which could potentially result in higher storage costs and liquidity challenges.
Further analysis of the company's inventory management practices and market conditions would be necessary to fully understand the implications of the changes in inventory turnover.
Peer comparison
Sep 30, 2024