MarineMax Inc (HZO)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 975,795 | 967,551 | 931,309 | 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 |
| Debt-to-capital ratio | 0.27 | 0.27 | 0.29 | 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 |
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 fluctuated over the past several quarters. The ratio indicates the proportion of the company's capital structure that is financed by debt.
In the most recent quarter, as of September 30, 2024, the debt-to-capital ratio was 0.27, consistent with the ratio observed in the previous quarter. This suggests that around 27% of the company's capital is funded by debt.
Looking back over the past few quarters, we observe a slight upward trend in the debt-to-capital ratio, with values ranging from 0.27 to 0.34. This indicates that the company has been increasing its reliance on debt to finance its operations and investments.
However, it is important to note that the debt-to-capital ratio was much lower in the earlier quarters, ranging from 0.00 to 0.09, indicating a shift in the capital structure towards a higher proportion of debt financing.
Overall, the trend in MarineMax Inc's debt-to-capital ratio suggests a gradual increase in debt relative to capital over the periods under review. This may have implications for the company's financial risk and leverage, highlighting the need for continued monitoring of its debt management strategies.
Peer comparison
Sep 30, 2024