MarineMax Inc (HZO)
Working capital 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,431,008 | 2,462,481 | 2,426,605 | 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 |
| Total current assets | US$ in thousands | 1,273,210 | 1,261,200 | 1,292,930 | 1,206,020 | 1,123,180 | 1,085,150 | 1,054,260 | 873,371 | 753,997 | 735,997 | 629,003 | 597,915 | 517,519 | 488,050 | 515,054 | 558,386 | 503,327 | 481,626 | 616,476 | 577,055 |
| Total current liabilities | US$ in thousands | 1,069,140 | 1,054,440 | 1,045,610 | 940,006 | 847,049 | 819,962 | 813,372 | 649,202 | 412,772 | 412,569 | 369,893 | 379,920 | 251,093 | 221,570 | 240,176 | 321,184 | 272,534 | 271,633 | 446,435 | 414,776 |
| 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 |
September 30, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,431,008K ÷ ($1,273,210K – $1,069,140K)
= 11.91
The working capital turnover of MarineMax Inc has fluctuated over the recent quarters, indicating variations in how efficiently the company is utilizing its working capital to generate revenue.
The working capital turnover ratio measures how effectively a company is using its working capital to support its sales. A higher ratio suggests that the company is efficiently managing its working capital and generating more sales revenue with the given amount of working capital.
From the data provided, we observe that the working capital turnover ratio for MarineMax Inc has been volatile, ranging from a low of 6.54 to a high of 11.91 over the past few quarters. In general, the company has shown an improving trend in its working capital turnover, with periodic fluctuations.
The highest working capital turnover ratio recorded was 11.91 in Sep 30, 2024, which suggests that MarineMax Inc was particularly efficient in utilizing its working capital to generate sales revenue during that period. On the other hand, the lowest ratio of 6.54 in Dec 31, 2019 indicates a lower efficiency in working capital utilization at that time.
Overall, the trend indicates that MarineMax Inc has been focusing on managing its working capital more effectively over the quarters analyzed. Despite the fluctuations, sustained efforts to improve working capital turnover can lead to enhanced operational efficiency and financial performance in the long term.
Peer comparison
Sep 30, 2024