Malibu Boats, Inc.

Industrials
Marine Transportation
www.malibuboats.com

Earnings Score
Moat Score
Safety Score

Market Cap $574.68M
PE -6
Debt $23.00M
Cash $35.12M
EV $562.56M
FCF $21.72M

Earnings

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Sales & Net Margins

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Earnings	-$89.31M
EBIT	-$101.72M
ROE	-17%
ROA	-14%
FCF	$21.72M
Equity	$514.40M
Growth Stability	-46%
PE	-6.43
PEG	-1.61
PB	1.12
P/FCF	26.46
P/S	0.78
Price/Cash	0.06
Debt/Equity	0.04
Debt/FCF	1.06
Net Margins	-1%
Gross Margins	16%
Op. Margins	-14%
Earnings CAGR	12%
Sales Growth YoY	-5%
Sales Growth QoQ	17%
Sales CAGR	20%
FCF CAGR	9%
Equity CAGR	49%
Earnings Stability	0.31
Earnings Growth YoY	-75%
Earnings Growth QoQ	-147%

Earnings CAGR 5Y	4%
Sales CAGR 5Y	7%
FCF CAGR 5Y	-13%
Equity CAGR 5Y	19%
Earnings CAGR 3Y	-18%
Sales CAGR 3Y	-18%
FCF CAGR 3Y	-42%
Equity CAGR 3Y	1%
Market Cap	$574.68M
Revenue	$733.99M
Assets	$738.68M
Total Debt	$23.00M
Cash	$35.12M
Shares Outstanding	19.74M
EV	562.56M
Earnings Score	18%
Moat Score	13%
Safety Score	66%
Final Score	32%
Working Capital	70.88M
Current Ratio	1.52
Gross Profit	$118.45M
Shares Growth 3y	-1%
Equity Growth QoQ	-2%
Equity Growth YoY	-18%

Assets & ROA

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Stockholders Equity & ROE

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Malibu Boats is a leading designer and manufacturer of power boats in the United States. It is the market leader in performance sport boats, sold under its Malibu and Axis brands. It acquired Cobalt Boats, a leading producer of sterndrive boats, in 2017 number-one market share position in the U.S. in the 24-foot to 29-foot segment), and Pursuit Boats, which makes high-end offshore and outboard motorboats in 2018. In 2021, it purchased Maverick Boat Group, a leading seller of flat fishing boats, with exposure to bay, dual-console, and center-console boats. Malibu has also expanded into boat trailers and accessories, and in 2020 began producing its own engines for its performance sport boats. Malibu's target market includes a wide range of water enthusiasts who embrace active lifestyles.

SEC Filings

Direct access to Malibu Boats, Inc. (MBUU) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31
2023
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31
2022
- 10-Q Dec 31
- 10-Q Sep 30
- 10-K Jun 30
- 10-Q Mar 31

Sector Comparison

How does Malibu Boats, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Malibu Boats, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 12%

Stability 31%

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Malibu Boats, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Malibu Boats, Inc..

Years

Calculation mode

= $402M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$22M	$24M	$26M	$28M	$31M	$33M	$36M	$39M	$43M	$47M	$51M	$510M
DCF		$22M	$21M	$21M	$21M	$21M	$20M	$20M	$20M	$20M	$20M	$197M
Value	$402M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Net Margins	6%	7%	10%	6%	10%	9%	12%	13%	8%	-7%	-1%
ROA	-	16%	22%	24%	22%	18%	20%	25%	16%	-8%	-14%
ROE	-	99%	54%	20%	31%	24%	29%	31%	17%	-11%	-17%

Bad Net Margins (-0.73%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	TTM
Debt over FCF	-	2.72	2.07	2.29	1.79	1.57	1.47	1.1	0	-0	1.06
Debt over Equity	-7.54	4.39	1.05	0.79	0.54	0.32	0.39	0.24	0	0	0.04
Growth Stability	-	-	-	100%	100%	100%	100%	100%	95%	-46%	-46%

Good Debt/FCF ratio (1.06)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.04)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-46%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	06/2015	06/2016	06/2017	06/2018	06/2019	06/2020	06/2021	06/2022	06/2023	06/2024	CAGR 5Y
Revenue YoY growth	-	11%	11%	76%	38%	-5%	42%	31%	14%	-40%	7%
Earnings YoY growth	-	23%	57%	-3%	139%	-7%	78%	44%	-34%	-154%	4%
Equity YoY growth	-	-262%	186%	168%	50%	24%	46%	35%	20%	-13%	19%
FCF YoY growth	-	309%	-10%	81%	32%	-17%	90%	9%	18%	-116%	-13%