MarineMax Inc (HZO)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 2,605,070 | 2,593,660 | 2,630,990 | 2,526,510 | 2,421,300 | 2,380,300 | 2,324,730 | 2,113,280 | 1,352,770 | 1,320,070 | 1,205,720 | 1,175,140 | 1,007,820 | 956,090 | 925,126 | 964,888 | 775,319 | 735,960 | 873,104 | 835,406 |
| 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 |
| Financial leverage ratio | 2.67 | 2.68 | 2.83 | 2.73 | 2.64 | 2.65 | 2.74 | 2.60 | 1.73 | 1.78 | 1.79 | 1.86 | 1.69 | 1.67 | 1.77 | 2.00 | 1.70 | 1.73 | 2.26 | 2.19 |
September 30, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,605,070K ÷ $975,795K
= 2.67
MarineMax Inc's financial leverage ratio has fluctuated over the past few years, indicating changes in the company's capital structure. The ratio stood at 2.67 as of September 30, 2024, showing a slight decrease from the previous quarter. This suggests that the company financed its assets with $2.67 of debt for every $1 of equity.
Comparing to historical data, we observe a general upward trend in the financial leverage ratio since the beginning of 2023, reaching a peak of 2.83 in March 2024. This increase may indicate the company's reliance on debt to fund its operations or investments during that period.
However, it's worth noting that the financial leverage ratio has shown some variability in the past, with fluctuations between 1.67 and 2.83. A ratio above 2 implies a higher level of financial risk and leverage, which may lead to increased interest payments and potential solvency issues in times of financial distress. On the other hand, a lower ratio below 2 signifies a more conservative capital structure with less reliance on debt financing.
Overall, monitoring MarineMax Inc's financial leverage ratio trends over time can provide valuable insights into its capital structure decisions and financial risk management practices.
Peer comparison
Sep 30, 2024