MarineMax Inc (HZO)
Debt-to-equity 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-equity ratio | 0.41 | 0.42 | 0.44 | 0.48 | 0.51 | 0.06 | 0.06 | 0.07 | 0.07 | 0.08 | 0.08 | 0.09 | 0.10 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $380,972K ÷ $925,098K
= 0.41
The debt-to-equity ratio of Marinemax, Inc. has exhibited fluctuations over the past eight quarters. The ratio stood at 1.17 as of December 31, 2023, indicating an increase in leverage compared to the previous quarter. This suggests that the company relied more on debt financing relative to equity during this period. However, it is important to note that the ratio has been on an overall upward trend since March 31, 2022, when it was at its lowest point of 0.16. This could indicate a shift in the company's capital structure towards higher levels of debt in relation to equity over the past two years. It is worth further investigation to understand the reasons behind these changes and their potential impact on the company's financial risk and cost of capital.
Peer comparison
Dec 31, 2023