MarineMax Inc (HZO)
Debt-to-assets ratio
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 355,906 | 364,138 | 372,624 | 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 | 2,605,070 | 2,593,660 | 2,630,990 | 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 |
| Debt-to-assets ratio | 0.14 | 0.14 | 0.14 | 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 |
September 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $355,906K ÷ $2,605,070K
= 0.14
Based on the debt-to-assets ratio data provided for MarineMax Inc over the past several quarters, we can observe fluctuations in the company's leverage position. The debt-to-assets ratio has been relatively stable around the range of 0.14 to 0.18 from September 2023 to June 2024. This suggests that MarineMax has been maintaining a moderate level of debt relative to its total assets during this period.
However, there was a noticeable increase in the ratio from 0.15 in December 2023 to 0.20 in December 2022, indicating a higher proportion of debt in relation to assets at the end of 2022. Subsequently, there has been a decrease in the ratio to around 0.14 to 0.18, signaling a potential effort to manage debt levels.
It is worth noting the significant decrease in the debt-to-assets ratio from 0.20 in December 2022 to 0.01 in September 2022, followed by maintaining very low levels of debt in the subsequent quarters.
Overall, the trend in MarineMax's debt-to-assets ratio indicates a generally conservative approach to debt management, with some fluctuations observed over the quarters. Investors and analysts may want to further investigate the company's financing decisions and monitor future changes in the debt-to-assets ratio to assess the company's financial health and risk profile.
Peer comparison
Sep 30, 2024