MarineMax Inc (HZO)

Solvency ratios

	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
Debt-to-assets ratio	0.15	0.16	0.17	0.18	0.20	0.03	0.03	0.04	0.04	0.05	0.05	0.05	0.05	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Debt-to-capital ratio	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	0.00	0.00	0.00
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
Financial leverage ratio	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	2.13	2.04	2.03

The solvency ratios of Marinemax, Inc. indicate the company's ability to meet its long-term financial obligations and its leverage position.

The debt-to-assets ratio has shown a moderate increasing trend over the past year, indicating that the company's level of debt in relation to its assets has been gradually rising. This suggests that a larger portion of the company's assets are being financed by debt.

Similarly, the debt-to-capital ratio has also been increasing, indicating that the proportion of the company's capital that is contributed by debt has been on the rise. This could potentially expose the company to higher financial risk.

The debt-to-equity ratio has shown a notable increase over the past year, indicating that the company's reliance on debt for financing its operations has been growing in comparison to its equity. This can be a concern for shareholders and creditors as it indicates higher financial leverage.

Finally, the financial leverage ratio has also been on the rise, suggesting that the company's reliance on debt financing has been increasing. A higher financial leverage ratio generally implies a greater level of financial risk for the company.

Overall, the increasing trends in these solvency ratios may indicate a growing financial risk and a potential decrease in the company's financial stability. It would be prudent for stakeholders to closely monitor the company's ability to service its debt and manage its financial leverage in the future.

Coverage ratios

	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
Interest coverage	2.95	3.76	5.64	9.61	20.95	80.77	87.00	93.83	74.05	57.15	52.46	31.50	17.10	11.51	7.47	5.38	5.41	5.23	6.18	6.23

The interest coverage ratio for Marinemax, Inc. has displayed fluctuations over the past eight quarters. The ratio was at its lowest in the fourth quarter of 2023, at 2.94, indicating a decline in the company's ability to cover its interest expenses from its operating income. However, the ratio improved in the subsequent quarters, reaching 3.76 in the third quarter of 2023, 5.64 in the second quarter of 2023, and 9.62 in the first quarter of 2023.

Furthermore, the interest coverage ratio demonstrated a significant increase in the fourth quarter of 2022, with a notable spike to 20.98. This rapid improvement continued into the first quarter of 2022, where the ratio surged to 93.83, suggesting a robust ability to meet interest obligations from operating income.

Overall, while the interest coverage ratio has shown fluctuations, it is important for investors and analysts to closely monitor the trend in the company's ability to cover interest expenses and assess the factors contributing to these fluctuations.