MarineMax Inc (HZO)
Inventory 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,590,140 | 1,559,377 | 1,508,494 | 1,482,522 | 1,517,882 | 1,502,344 | 1,450,105 | 1,459,695 | 1,421,193 | 1,403,824 | 1,398,362 | 1,311,559 | 1,174,969 | 1,111,000 | 1,049,398 | 960,331 | 960,016 | 914,321 | 923,214 | 907,997 |
| Inventory | US$ in thousands | 876,233 | 812,830 | 739,114 | 711,296 | 605,369 | 454,359 | 374,217 | 329,731 | 325,396 | 230,984 | 209,418 | 302,979 | 378,863 | 298,002 | 314,096 | 506,887 | 493,943 | 477,468 | 434,729 | 454,557 |
| Inventory turnover | 1.81 | 1.92 | 2.04 | 2.08 | 2.51 | 3.31 | 3.88 | 4.43 | 4.37 | 6.08 | 6.68 | 4.33 | 3.10 | 3.73 | 3.34 | 1.89 | 1.94 | 1.91 | 2.12 | 2.00 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,590,140K ÷ $876,233K
= 1.81
MarineMax, Inc.'s inventory turnover has shown a declining trend over the last eight quarters. The inventory turnover ratio measures the number of times a company's inventory is sold and replaced over a period. A higher turnover ratio generally indicates that the company is selling goods more quickly.
Based on the provided data, the inventory turnover ratio has decreased from 4.43 in March 2022 to 1.81 in December 2023. This downward trend may suggest that MarineMax, Inc. has been less effective in managing its inventory levels and may be experiencing slower sales relative to its inventory holdings.
A declining inventory turnover ratio can also indicate excess or obsolete inventory, which can tie up capital and lead to potential write-downs. It's important for the company to monitor and manage its inventory levels effectively to maintain healthy turnover ratios and optimize its working capital.
Peer comparison
Dec 31, 2023
Dec 31, 2023