MarineMax Inc (HZO)
Debt-to-assets ratio
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 355,906 | 389,231 | 45,301 | 47,498 | 7,343 |
| Total assets | US$ in thousands | 2,605,070 | 2,421,300 | 1,352,770 | 1,007,820 | 775,319 |
| Debt-to-assets ratio | 0.14 | 0.16 | 0.03 | 0.05 | 0.01 |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $355,906K ÷ $2,605,070K
= 0.14
MarineMax Inc's debt-to-assets ratio has fluctuated over the past five years, ranging from 0.01 to 0.16. The ratio measures the proportion of the company's assets financed by debt, with a lower ratio indicating lower financial risk. In 2020 and 2021, the company had a very low debt-to-assets ratio of 0.01 and 0.05, respectively, suggesting a conservative capital structure. However, in 2022 and 2023, the ratio increased to 0.03 and 0.16, indicating higher reliance on debt financing, which may pose increased financial risk. In 2024, the ratio improved slightly to 0.14, but remains higher compared to the earlier years. Overall, the trend in the debt-to-assets ratio suggests fluctuations in the company's leverage and financial risk profile over the years.
Peer comparison
Sep 30, 2024