MarineMax Inc (HZO)
Activity ratios
Short-term
Turnover ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Receivables turnover | 22.35 | 23.39 | 19.95 | 25.52 | 27.45 | 24.59 | 19.70 | 34.20 | 44.79 | 36.11 | 35.51 | 53.83 | 42.10 | 33.22 | 33.62 | 36.75 | 36.36 | 20.42 | 36.42 | 35.98 |
| Payables turnover | 29.92 | 36.22 | 26.30 | 36.17 | 21.75 | 31.96 | 33.24 | 35.00 | 43.75 | 25.65 | 38.56 | 52.17 | 54.54 | 48.65 | 56.34 | 52.50 | 29.75 | 26.61 | 62.94 | 52.87 |
| Working capital turnover | 11.91 | 11.91 | 9.81 | 9.07 | 8.67 | 8.81 | 9.56 | 10.45 | 6.76 | 6.91 | 8.53 | 9.75 | 7.74 | 7.50 | 6.66 | 6.82 | 6.54 | 6.76 | 7.67 | 8.01 |
The activity ratios of MarineMax Inc provide insights into how effectively the company is managing its assets and liabilities to generate sales.
1. Inventory turnover: MarineMax's inventory turnover ratio has been fluctuating over the periods, indicating the number of times the company has sold and replaced its inventory during the year. A decrease in the inventory turnover ratio could suggest slower sales or potential overstocking of inventory.
2. Receivables turnover: The receivables turnover ratio measures how efficiently the company is collecting payments from its customers. MarineMax's receivables turnover has shown variability, with a higher ratio indicating faster collection of receivables, which is a positive sign for cash flow management.
3. Payables turnover: The payables turnover ratio reflects how quickly a company is paying its suppliers. MarineMax's payables turnover has also been inconsistent, with a higher ratio suggesting that the company is paying its suppliers at a faster rate, which could potentially impact relationships with suppliers.
4. Working capital turnover: The working capital turnover ratio evaluates how efficiently the company is utilizing its working capital to generate sales. MarineMax's working capital turnover ratio has been relatively stable, indicating how effectively the company is using its current assets and liabilities to support its operations and sales growth.
In summary, MarineMax's activity ratios reveal fluctuations in managing inventory, collecting receivables, paying suppliers, and utilizing working capital to drive sales. Monitoring these ratios over time can provide valuable insights into the company's operational efficiency and financial performance.
Average number of days
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 203.04 | 194.67 | 211.01 | 201.13 | 190.26 | 178.84 | 175.12 | 145.57 | 110.39 | 94.19 | 82.45 | 83.57 | 60.06 | 54.66 | 84.32 | 117.69 | 97.90 | 109.25 | 192.66 | 187.80 |
| Days of sales outstanding (DSO) | days | 16.33 | 15.60 | 18.30 | 14.30 | 13.30 | 14.84 | 18.52 | 10.67 | 8.15 | 10.11 | 10.28 | 6.78 | 8.67 | 10.99 | 10.86 | 9.93 | 10.04 | 17.87 | 10.02 | 10.15 |
| Number of days of payables | days | 12.20 | 10.08 | 13.88 | 10.09 | 16.78 | 11.42 | 10.98 | 10.43 | 8.34 | 14.23 | 9.47 | 7.00 | 6.69 | 7.50 | 6.48 | 6.95 | 12.27 | 13.72 | 5.80 | 6.90 |
The activity ratios of MarineMax Inc provide insights into the efficiency of the company's operations.
1. Days of Inventory on Hand (DOH):
- MarineMax's Days of Inventory on Hand ranged from 54.66 days to 211.01 days over the last five years, indicating fluctuations in the management of inventory levels.
- The increase in DOH from September 2022 to March 2023 suggests a buildup of inventory, possibly due to changing demand or production issues.
- A decreasing trend in DOH from March 2023 to September 2024 may indicate improvements in inventory management efficiency.
2. Days of Sales Outstanding (DSO):
- MarineMax's Days of Sales Outstanding ranged from 6.78 days to 18.52 days over the last five years, reflecting the company's ability to collect receivables.
- A lower DSO indicates faster collection of receivables, which can improve cash flow and liquidity.
- The decrease in DSO from December 2021 to September 2022 suggests more efficient credit management practices.
3. Number of Days of Payables:
- MarineMax's Number of Days of Payables varied from 5.80 days to 16.78 days over the last five years, demonstrating changes in the company's payment terms with suppliers.
- A longer payment period (higher number of days of payables) can help conserve cash but might strain supplier relationships.
- The fluctuations in payables days indicate adjustments in working capital management strategies.
Overall, the analysis of MarineMax Inc's activity ratios highlights the importance of monitoring inventory, receivables, and payables to optimize working capital management and operational efficiency.
Long-term
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fixed asset turnover | 4.56 | 4.61 | 4.53 | 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 |
| Total asset turnover | 0.93 | 0.95 | 0.92 | 0.96 | 0.99 | 0.98 | 0.99 | 1.11 | 1.71 | 1.69 | 1.83 | 1.81 | 2.05 | 2.09 | 1.98 | 1.68 | 1.95 | 1.93 | 1.49 | 1.56 |
MarineMax Inc's long-term activity ratios provide insight into how efficiently the company is utilizing its assets to generate sales. The fixed asset turnover ratio has been relatively stable over the recent quarters, indicating that the company is generating approximately $4.50 to $12.00 in revenues for every dollar invested in fixed assets. The fluctuation in this ratio suggests varying efficiency in utilizing fixed assets to generate sales.
The total asset turnover ratio has shown more volatility, ranging from 0.93 to 2.09, indicating that the company is generating sales of between approximately $0.90 and $2.10 for every dollar invested in total assets. The ratio peaked in some periods, reflecting higher efficiency in utilizing all assets to generate sales.
Overall, the fixed asset turnover has been higher and more stable compared to the total asset turnover, suggesting that MarineMax Inc is more efficient in utilizing its fixed assets to generate sales. However, the fluctuation in both ratios indicates a need for the company to focus on optimizing the utilization of its assets to enhance long-term profitability and efficiency.