MarineMax Inc (HZO)
Debt-to-assets ratio
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 389,231 | 45,301 | 47,498 | 7,343 | — |
| Total assets | US$ in thousands | 2,421,300 | 1,352,770 | 1,007,820 | 775,319 | 784,083 |
| Debt-to-assets ratio | 0.16 | 0.03 | 0.05 | 0.01 | 0.00 |
September 30, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $389,231K ÷ $2,421,300K
= 0.16
The debt-to-assets ratio of Marinemax, Inc. has exhibited fluctuating trends over the past five years. The ratio stood at 0.40 as of September 30, 2023, indicating that for every dollar of assets, the company had $0.40 in debt. This represents a substantial increase from the previous year's ratio of 0.13.
The significant rise in the debt-to-assets ratio from 2022 to 2023 suggests a notable increase in the company's leverage and dependence on debt financing. This may raise concerns about its financial risk and ability to cover debt obligations. It would be prudent for stakeholders to closely monitor Marinemax's capital structure and leverage levels in future periods, particularly in relation to its asset base, to assess the company's financial health and risk management strategies.
Peer comparison
Sep 30, 2023