MarineMax Inc (HZO)
Inventory turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,559,380 | 1,502,340 | 1,403,820 | 1,111,000 | 914,321 |
| Inventory | US$ in thousands | 812,830 | 454,359 | 230,984 | 298,002 | 477,468 |
| Inventory turnover | 1.92 | 3.31 | 6.08 | 3.73 | 1.91 |
September 30, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,559,380K ÷ $812,830K
= 1.92
The inventory turnover ratio for Marinemax, Inc. has fluctuated over the past five years. In 2023, the ratio decreased to 1.92 from 3.31 in 2022. This decline indicates that the company's inventory turnover slowed down, which may suggest inefficiencies in managing and selling its inventory. Comparing to 2021 when the ratio was 6.08, the substantial decrease is notable. In 2020, the ratio was 3.73, showing a decrease from the previous year. In 2019, the ratio was 1.91, similar to the recent figure. Overall, the trend indicates a decrease in inventory turnover efficiency, which could potentially lead to higher carrying costs and possible overstocking.
Peer comparison
Sep 30, 2023