MarineMax Inc (HZO)
Inventory turnover
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,629,812 | 1,650,765 | 1,613,180 | 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 |
| Inventory | US$ in thousands | 906,641 | 880,419 | 932,607 | 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 |
| Inventory turnover | 1.80 | 1.87 | 1.73 | 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 |
September 30, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,629,812K ÷ $906,641K
= 1.80
MarineMax Inc's inventory turnover has displayed some fluctuation over the past few years. The trend shows that the company's ability to efficiently manage its inventory has improved gradually from 2019 to 2021, with the turnover ratio increasing from 1.89 to 6.68 during this period. However, there was a slight decline in inventory turnover in 2022 and 2023 before stabilizing in 2024.
A higher inventory turnover ratio indicates that the company is selling its products more frequently, which is generally a positive sign as it implies efficient management of inventory levels. MarineMax's inventory turnover peaked at 6.68 in June 2021, suggesting that the company was selling its inventory more than six times during that period.
It is important for MarineMax to strike a balance in managing its inventory turnover to avoid stockouts or excess inventory. Analyzing the inventory turnover ratio over time can help the company assess the effectiveness of its inventory management strategies and make informed decisions regarding purchasing, stocking, and sales activities.
Peer comparison
Sep 30, 2024
Sep 30, 2024