MarineMax Inc (HZO)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 975,795 | 915,843 | 782,666 | 594,892 | 455,397 |
| Debt-to-capital ratio | 0.27 | 0.30 | 0.05 | 0.07 | 0.02 |
September 30, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $355,906K ÷ ($355,906K + $975,795K)
= 0.27
The debt-to-capital ratio of MarineMax Inc has shown a fluctuating trend over the past five years. In the most recent period as of September 30, 2024, the ratio stands at 0.27, indicating that 27% of the company's capital structure is funded by debt. This represents a decrease from the prior year when the ratio was at 0.30.
Compared to two years ago, the debt-to-capital ratio has increased significantly from 0.05 to the current level of 0.27. This suggests that MarineMax has been relying more on debt to finance its operations and investments. However, it is important to note that the ratio remains relatively low compared to the levels in 2021 and 2020, when it was at 0.07 and 0.02, respectively.
Overall, while the recent increase in the debt-to-capital ratio may indicate a higher level of financial leverage, MarineMax Inc's current position suggests a moderate reliance on debt financing in its capital structure. It would be essential for investors and stakeholders to monitor this ratio closely to assess the company's financial risk and debt management strategies.
Peer comparison
Sep 30, 2024