MarineMax Inc (HZO)

Solvency ratios

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
Debt-to-assets ratio 0.14 0.14 0.14 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
Debt-to-capital ratio 0.27 0.27 0.29 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
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
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

MarineMax Inc's solvency ratios indicate the company's ability to meet its long-term financial obligations and the extent to which it relies on debt financing. The trends in the solvency ratios over the past few quarters show the company's evolving financial position.

The debt-to-assets ratio has remained relatively stable around 0.14 to 0.16, indicating that a relatively low proportion of MarineMax's assets are financed by debt.

The debt-to-capital ratio and debt-to-equity ratio have shown a slight increasing trend over the quarters, implying a gradual increase in the company's reliance on debt to fund its operations and growth.

The financial leverage ratio has fluctuated over the quarters but has generally been around 2.00, suggesting that MarineMax has significant financial leverage and is more reliant on debt to finance its operations compared to its equity.

Overall, while MarineMax's solvency ratios indicate a moderate level of leverage, the trends suggest a slight increase in reliance on debt financing over time, which may warrant further monitoring to ensure the company's long-term financial health and stability.

Coverage ratios

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
Interest coverage 1.73 1.89 2.19 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

The interest coverage ratio measures a company's ability to meet its interest payments on outstanding debt using its operating earnings. A higher interest coverage ratio indicates that the company is more capable of meeting its interest obligations.

Looking at the trend in MarineMax Inc's interest coverage ratio over the past few quarters, we can observe fluctuations. The ratio has shown a declining trend from a high of 93.83 in March 2022 to 1.73 in September 2024. This decline may indicate a weakening ability of the company to cover its interest expenses from its operating earnings.

In the most recent quarter, MarineMax Inc's interest coverage ratio of 1.73 indicates that the company's operating earnings are only able to cover its interest expenses 1.73 times over. This low ratio suggests that the company may be facing challenges in meeting its interest payments. Investors and creditors may view a low interest coverage ratio as a potential risk factor, as it could signal financial distress and difficulty in servicing debt obligations.

Overall, MarineMax Inc's interest coverage ratio has shown volatility and a downward trend in recent quarters, highlighting the importance of monitoring the company's financial health and ability to manage its debt obligations.