MarineMax Inc (HZO)
Debt-to-equity 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-equity ratio | 0.36 | 0.38 | 0.40 | 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 |
September 30, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $355,906K ÷ $975,795K
= 0.36
MarineMax Inc's debt-to-equity ratio has shown a fluctuating trend over the past few years, indicating the company's changing capital structure. The ratio has ranged from a low of 0.00 to a high of 0.51 during the period under review, with the most recent value standing at 0.36 as of September 30, 2024.
A lower debt-to-equity ratio suggests that the company relies more on equity financing rather than debt to fund its operations and growth, which may be viewed positively as it signifies lower financial risk and greater financial stability. On the other hand, a higher ratio indicates a higher level of debt relative to equity, which could potentially increase financial risk and interest expense.
The increasing trend in the debt-to-equity ratio over the past few quarters may indicate that MarineMax Inc has been taking on more debt to finance its operations or growth initiatives. It would be important to monitor this trend closely to assess the company's ability to manage its debt levels effectively and maintain a healthy balance between debt and equity financing. Additionally, understanding the reasons behind the fluctuations in the ratio would provide valuable insights into the company's financial strategy and performance.
Peer comparison
Sep 30, 2024