MarineMax Inc (HZO)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 925,098 | 915,843 | 899,809 | 848,626 | 812,220 | 782,666 | 742,740 | 674,260 | 633,352 | 594,892 | 572,771 | 523,304 | 482,582 | 455,397 | 425,025 | 387,077 | 380,747 | 368,819 | 369,786 | 368,489 |
| Debt-to-capital ratio | 0.29 | 0.30 | 0.31 | 0.32 | 0.34 | 0.05 | 0.06 | 0.06 | 0.07 | 0.07 | 0.08 | 0.09 | 0.09 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $380,972K ÷ ($380,972K + $925,098K)
= 0.29
The debt-to-capital ratio of Marinemax, Inc. has shown fluctuation over the past eight quarters. The ratio stood at 0.54 as of December 31, 2023, reflecting an increase from the previous quarter. This indicates that the company's total debt comprised 54% of its total capital, which includes both debt and equity. The upward trend in the ratio suggests a potential increase in financial risk and leverage for the company. It is noteworthy that the ratio was relatively lower at 0.17 and 0.14 in the second and first quarters of 2022, respectively, indicating a significant shift in the company's capital structure or debt levels during these periods. Further analysis of the company's financial position and management of debt may provide insights into the fluctuations observed in the debt-to-capital ratio.
Peer comparison
Dec 31, 2023