Marine Products Corp

Industrials
Marine Transportation
www.marineproductscorp.com

Earnings Score
Moat Score

Market Cap $322.49M
PE 18
Debt $NaN
Cash $53.53M
EV $NaN
FCF $36.21M

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$17.92M
EBIT	$23.56M
ROE	14%
ROA	13%
FCF	$36.21M
Equity	$128.79M
Growth Stability	77%
PE	18
PEG	1.5
PB	2.5
P/FCF	8.91
P/S	1.24
Price/Cash	0.17
Net Margins	7%
Gross Margins	19%
Op. Margins	9%
Earnings CAGR	10%
Sales Growth YoY	-36%
Sales Growth QoQ	-28%
Sales CAGR	5%
FCF CAGR	9%
Equity CAGR	6%
Earnings Stability	0.52
Earnings Growth YoY	-68%
Earnings Growth QoQ	-32%

Earnings CAGR 5Y	12%
Sales CAGR 5Y	9%
FCF CAGR 5Y	10%
Equity CAGR 5Y	17%
Earnings CAGR 3Y	-1%
Sales CAGR 3Y	-1%
FCF CAGR 3Y	22%
Equity CAGR 3Y	14%
Market Cap	$322.49M
Revenue	$259.61M
Dividend Yield	14%
Payout Ratio	244%
Assets	$176.32M
Cash	$53.53M
Shares Outstanding	33.8M
Earnings Score	64%
Moat Score	91%
Working Capital	90.85M
Current Ratio	4.69
Gross Profit	$49.80M
Shares Growth 3y	1%
Equity Growth QoQ	-0%
Equity Growth YoY	-14%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

Marine Products Corp is a manufacturer of fiberglass motorized boats distributed and marketed through its independent dealer network. It operates in the Powerboat Manufacturing business segment through Nashville, Georgia, Valdosta, and Georgia. Its product offerings include Chaparral sterndrive, outboard, and jet pleasure boats and Robalo outboard sport fishing boats. The company offers its products to the family recreational and cruiser markets through its Chaparral brand and to the sportfishing market through its Robalo brand.

SEC Filings

Direct access to Marine Products Corp (MPX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

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

Sector Comparison

How does Marine Products Corp compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of Marine Products Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 10%

Stability 52%

loading chart...

Marine Products Corp Discounted Cash Flow

Fully customizable DCF calculator online for Marine Products Corp.

Years

Calculation mode

= $694M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$36M	$40M	$43M	$47M	$52M	$57M	$62M	$68M	$74M	$81M	$89M	$889M
DCF		$36M	$36M	$36M	$35M	$35M	$35M	$35M	$35M	$34M	$34M	$343M
Value	$694M

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	5%	7%	7%	7%	9%	9%	8%	10%	10%	11%	7%
ROA	-	19%	26%	31%	35%	33%	20%	27%	32%	27%	13%
ROE	-	15%	25%	27%	37%	36%	23%	29%	32%	27%	14%

Bad Net Margins (6.69%)

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	100%	100%	100%	77%	100%	100%	100%	77%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (77%)

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	21%	17%	11%	12%	-2%	-18%	24%	28%	1%	9%
Earnings YoY growth	-	60%	17%	15%	48%	-1%	-31%	50%	39%	3%	12%
Equity YoY growth	-	8%	-27%	6%	8%	3%	9%	17%	26%	22%	17%
FCF YoY growth	-	35%	14%	96%	-24%	53%	-12%	-103%	-6K%	-0%	10%