MarineMax Inc (HZO)
Total asset turnover
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,431,010 | 2,394,710 | 2,308,100 | 2,063,260 | 1,509,710 |
| Total assets | US$ in thousands | 2,605,070 | 2,421,300 | 1,352,770 | 1,007,820 | 775,319 |
| Total asset turnover | 0.93 | 0.99 | 1.71 | 2.05 | 1.95 |
September 30, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $2,431,010K ÷ $2,605,070K
= 0.93
MarineMax Inc's total asset turnover ratio has shown a declining trend over the past five years. The ratio decreased from 1.95 in 2020 to 0.93 in 2024. This indicates that the company is generating less revenue for every dollar of assets it holds.
The downward trend in total asset turnover may suggest inefficiency in utilizing its assets to generate sales. The lower the ratio, the less effectively the company is using its assets to generate revenue. It could be a sign that the company's operational efficiency has decreased or that its asset base has grown faster than its sales revenue.
Investors and analysts may view a declining total asset turnover negatively, as it may indicate declining efficiency and potential operational challenges. Further examination of the company's operations and strategy is warranted to understand the underlying reasons for the decreasing total asset turnover and assess the company's overall financial health and performance.
Peer comparison
Sep 30, 2024