MarineMax Inc (HZO)
Operating return on assets (Operating ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 183,301 | 200,802 | 217,405 | 238,124 | 254,502 | 265,204 | 257,983 | 243,591 | 224,678 | 209,460 | 198,514 | 166,221 | 123,067 | 106,715 | 86,541 | 66,668 | 67,178 | 60,532 | 64,902 | 62,758 |
| 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 |
| Operating ROA | 7.26% | 8.29% | 9.13% | 10.24% | 12.04% | 19.60% | 19.54% | 20.20% | 19.12% | 20.78% | 20.76% | 17.97% | 12.75% | 13.76% | 11.76% | 7.64% | 8.04% | 7.72% | 8.59% | 8.38% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $183,301K ÷ $2,526,510K
= 7.26%
To analyze Marinemax, Inc.'s operating return on assets (operating ROA), we can observe the trend of operating ROA over the past eight quarters. The operating ROA measures the company's ability to generate earnings from its operations relative to its total assets.
The trend shows a decline in the operating ROA from 20.20% in March 2022 to 7.26% in December 2023. This decline might indicate a decrease in the company's operating efficiency and/or profitability relative to its asset base. It is essential to investigate the reasons behind this trend, such as changes in the company's cost structure, sales volume, or asset utilization.
The fluctuation in operating ROA could also imply changes in the company's operating income and/or asset base. The company may have experienced fluctuations in its operating income or made significant changes to its asset structure during this period.
Overall, the declining trend in operating ROA suggests a potential decline in operating efficiency and/or profitability relative to the company's assets. Further analysis of the company's operating performance and asset management is necessary to understand the factors driving this trend.
Peer comparison
Dec 31, 2023