MarineMax Inc (HZO)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 915,843 | 782,666 | 594,892 | 455,397 | 368,819 |
| Debt-to-capital ratio | 0.30 | 0.05 | 0.07 | 0.02 | 0.00 |
September 30, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $389,231K ÷ ($389,231K + $915,843K)
= 0.30
The debt-to-capital ratio for Marinemax, Inc. has shown significant variability over the past five years. In 2023, the ratio stands at 0.51, indicating that more than half of the company's capital structure is comprised of debt. This represents a notable increase from the prior year's ratio of 0.19. The substantial shift suggests a higher reliance on debt financing in the most recent period. In 2021, the ratio was 0.11, reflecting a relatively low level of debt compared to capital. However, 2020 saw an increase to 0.25, signifying a greater debt component in the capital structure. The ratio was at its highest in 2019 at 0.46, denoting a higher proportion of debt relative to capital. Overall, the trend indicates fluctuating levels of leverage and highlights the importance of monitoring the company's debt management and capital structure.
Peer comparison
Sep 30, 2023