MarineMax Inc (HZO)
Debt-to-assets ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 380,972 | 389,231 | 399,229 | 407,335 | 415,263 | 45,301 | 45,834 | 45,747 | 46,623 | 47,498 | 48,374 | 49,440 | 50,124 | 7,343 | — | — | — | — | — | — |
| 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 |
| Debt-to-assets ratio | 0.15 | 0.16 | 0.17 | 0.18 | 0.20 | 0.03 | 0.03 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $380,972K ÷ $2,526,510K
= 0.15
The debt-to-assets ratio of Marinemax, Inc. has been fluctuating over the past eight quarters. At the end of December 2023, the ratio stood at 0.43, indicating that 43% of the company's assets were financed by debt. This represented an increase from the previous quarter, where the ratio was 0.40.
In the context of the historical trend, the ratio has generally been increasing since March 2022, when it was 0.09. This upward trajectory suggests that the company has been relying more on debt to finance its assets.
The substantial increase in the debt-to-assets ratio from September 2022 to December 2023 warrants further investigation into the company's debt management and asset utilization. It may indicate a shift in the company's financing strategy or a change in its capital structure. Additionally, the significant increase suggests a potential increase in financial risk as more of the company's assets are being funded by debt, which could impact its financial flexibility and solvency.
Further analysis of the components of debt and assets, as well as the company's overall financial health, is advisable to gain a comprehensive understanding of the implications of this trend.
Peer comparison
Dec 31, 2023