MarineMax Inc (HZO)
Total asset 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,414,053 | 2,394,706 | 2,336,875 | 2,303,568 | 2,343,334 | 2,308,098 | 2,233,644 | 2,211,435 | 2,124,424 | 2,063,257 | 1,999,709 | 1,831,685 | 1,617,065 | 1,509,713 | 1,419,087 | 1,304,277 | 1,299,388 | 1,237,153 | 1,237,608 | 1,215,368 |
| Total assets | US$ in thousands | 2,526,510 | 2,421,300 | 2,380,300 | 2,324,730 | 2,113,280 | 1,352,770 | 1,320,070 | 1,205,720 | 1,175,140 | 1,007,820 | 956,090 | 925,126 | 964,888 | 775,319 | 735,960 | 873,104 | 835,406 | 784,083 | 755,407 | 749,025 |
| Total asset turnover | 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 | 1.58 | 1.64 | 1.62 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $2,414,053K ÷ $2,526,510K
= 0.96
The total asset turnover ratio of Marinemax, Inc. has been fluctuating over the past eight quarters. The ratio declined from 1.83 in the first quarter of 2022 to 0.96 in the fourth quarter of 2023. This indicates a decrease in the company's efficiency in generating sales from its total assets. While the ratio showed a slight improvement in the second and third quarters of 2023, it remained below previous levels.
A total asset turnover ratio of less than 1 suggests that the company is generating less revenue per dollar of assets, which may be a cause for concern. It is important for the company to closely monitor and analyze the factors contributing to this decline in efficiency in order to make strategic adjustments and improve overall performance.
Peer comparison
Dec 31, 2023