MarineMax (HZO) financial statements
MarineMax reported revenue of $2.3B in fiscal 2025, up 10.5% a year over 9 years.
Net income was -$32M and the operating margin 1.5%, against 4.3% in 2016.
Free cash flow was $12M.
The diluted share count fell 11% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MarineMax's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $942M | $1.1B | $1.2B | $1.2B | $1.5B | $2.1B | $2.3B | $2.4B | $2.4B | $2.3B |
| Cost of revenue | $716M | $787M | $879M | $914M | $1.1B | $1.4B | $1.5B | $1.6B | $1.6B | $1.6B |
| Gross profit | $226M | $265M | $298M | $323M | $399M | $659M | $806M | $835M | $801M | $750M |
| Selling, general and admin | $186M | $220M | $235M | $262M | $292M | $450M | $541M | $635M | $673M | $647M |
| Operating income | $40M | $45M | $63M | $61M | $107M | $209M | $265M | $201M | $128M | $34M |
| Interest expense | $5M | $7M | $10M | $12M | $9M | $4M | $3M | $53M | $74M | $71M |
| Pre-tax income | $35M | $38M | $53M | $49M | $97M | $206M | $262M | $147M | $54M | -$37M |
| Income tax | $12M | $14M | $14M | $13M | $23M | $51M | $64M | $38M | $16M | -$6M |
| Net income | $23M | $24M | $39M | $36M | $75M | $155M | $198M | $109M | $38M | -$32M |
| EPS (diluted) | $0.91 | $0.95 | $1.71 | $1.57 | $3.37 | $6.78 | $8.84 | $4.87 | $1.65 | -$1.43 |
| Diluted shares | 25M | 25M | 23M | 23M | 22M | 23M | 22M | 22M | 23M | 22M |
| Gross margin | 24.0% | 25.2% | 25.3% | 26.1% | 26.4% | 32.0% | 34.9% | 34.9% | 33.0% | 32.5% |
| Operating margin | 4.3% | 4.3% | 5.4% | 4.9% | 7.1% | 10.2% | 11.5% | 8.4% | 5.3% | 1.5% |
| Net margin | 2.4% | 2.2% | 3.3% | 2.9% | 4.9% | 7.5% | 8.6% | 4.6% | 1.6% | -1.4% |
Balance sheet
Fiscal years, from MarineMax's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $39M | $42M | $49M | $39M | $155M | $222M | $228M | $201M | $224M | $170M |
| Receivables | $25M | $25M | $34M | $42M | $40M | $48M | $50M | $86M | $106M | $108M |
| Inventory | $322M | $401M | $377M | $477M | $298M | $231M | $454M | $813M | $907M | $867M |
| Total current assets | $391M | $474M | $465M | $569M | $503M | $518M | $754M | $1.1B | $1.3B | $1.2B |
| Property, plant and equipment | $121M | $127M | $139M | $144M | $142M | $175M | $246M | $528M | $533M | $553M |
| Goodwill | $10M | $26M | $27M | $64M | $84M | $196M | $236M | $560M | $592M | $527M |
| Total assets | $547M | $640M | $641M | $784M | $775M | $1.0B | $1.4B | $2.4B | $2.6B | $2.5B |
| Total current liabilities | $232M | $335M | $286M | $413M | $273M | $251M | $413M | $847M | $1.1B | $985M |
| Long-term debt | — | — | — | — | $7M | $47M | $45M | $389M | $356M | $356M |
| Total liabilities | $234M | $338M | $287M | $415M | $320M | $413M | $570M | $1.5B | $1.6B | $1.5B |
| Shareholders' equity | $312M | $302M | $353M | $369M | $455M | $595M | $783M | $916M | $976M | $937M |
| Net debt | -$39M | -$42M | -$49M | -$39M | -$148M | -$171M | -$180M | $222M | $165M | $221M |
Cash flow
Fiscal years, from MarineMax's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $23M | $5M | $70M | -$12M | $305M | $374M | $77M | -$222M | -$26M | $73M |
| Capital spending | $13M | $14M | $14M | $17M | $13M | $26M | $58M | $65M | $60M | $61M |
| Free cash flow | $10M | -$10M | $57M | -$29M | $292M | $348M | $18M | -$288M | -$86M | $12M |
| Stock-based compensation | $4M | $6M | $6M | $7M | $7M | $10M | $16M | $22M | $24M | $19M |
| Net borrowing | $16M | $71M | -$43M | $86M | -$160M | -$119M | $105M | $779M | $136M | $9M |
| Free cash flow margin | 1.1% | -0.9% | 4.8% | -2.4% | 19.3% | 16.9% | 0.8% | -12.0% | -3.5% | 0.5% |
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Open HZO in InvestinglyQuestions
What was MarineMax's revenue in 2025?
$2.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does MarineMax generate?
$12M in fiscal 2025 (operating cash flow minus capital spending).
From MarineMax's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.