MarineMax Inc (HZO)
Debt-to-equity 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-equity ratio | 0.42 | 0.06 | 0.08 | 0.02 | 0.00 |
September 30, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $389,231K ÷ $915,843K
= 0.42
The debt-to-equity ratio for Marinemax, Inc. has fluctuated over the past five years, indicating changes in its capital structure and leverage. In 2019, the ratio stood at 0.85, reflecting a higher level of debt relative to equity. This was followed by a significant decrease to 0.33 in 2020, suggesting a reduced dependency on debt financing and a relatively stronger equity position. The ratio further declined to 0.13 in 2021, signaling a conservative approach to debt and a bolstered equity base.
However, in 2022, there was a substantial increase in the debt-to-equity ratio to 0.23, potentially indicating a shift towards greater reliance on debt as a source of funding. This trend continued in 2023, with the ratio growing to 1.05. This rise may raise concerns about the company's increasing debt burden compared to its equity, highlighting the need for a careful assessment of its debt management and capital structure strategies in the coming periods. These fluctuations in the debt-to-equity ratio underscore the importance of monitoring Marinemax's leverage and financial risk management.
Peer comparison
Sep 30, 2023