MarineMax Inc (HZO)
Return on total capital
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 200,606 | 265,204 | 209,459 | 106,715 | 60,532 |
| Long-term debt | US$ in thousands | 389,231 | 45,301 | 47,498 | 7,343 | — |
| Total stockholders’ equity | US$ in thousands | 915,843 | 782,666 | 594,892 | 455,397 | 368,819 |
| Return on total capital | 15.37% | 32.03% | 32.61% | 23.06% | 16.41% |
September 30, 2023 calculation
Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $200,606K ÷ ($389,231K + $915,843K)
= 15.37%
Marinemax, Inc.'s return on total capital has exhibited fluctuation over the past five years. The return on total capital decreased to 10.70% as of September 30, 2023, from 27.54% in the previous year. This decrease in return on total capital may indicate that the company's ability to generate profits from its total capital employed has declined. It is important to further analyze the reasons behind this decrease to understand the company's financial performance and its impact on overall profitability. Furthermore, historical data shows that Marinemax, Inc. experienced a significant increase in return on total capital in 2021 compared to previous years, reflecting improved efficiency in capital utilization. This trend suggests that the company's management may have implemented effective strategies to enhance the returns generated from the total capital employed. Overall, a comprehensive evaluation of the company's financial and operational factors is necessary to gain a deeper understanding of the drivers behind the changes in return on total capital.
Peer comparison
Sep 30, 2023