Marinemax Beneish M Score

HZO -  USA Stock  

USD 39.94  2.24  5.94%

This module uses fundamental data of Marinemax to approximate the value of its Beneish M Score. Marinemax M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Please check Marinemax Piotroski F Score and Marinemax Altman Z Score analysis.
  
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Marinemax Total Debt is quite stable at the moment as compared to the past year. The company's current value of Total Debt is estimated at 212.83 Million. Debt Current is expected to rise to about 45 M this year, although the value of Debt Non Current will most likely fall to about 141.1 M. Marinemax Return on Investment is quite stable at the moment as compared to the past year. The company's current value of Return on Investment is estimated at 31.85. Cash Flow Per Share is expected to rise to 16.64 this year, although the value of PPandE Turnover will most likely fall to 9.39.
At this time, it appears that Marinemax is an unlikely manipulator. The earnings manipulation may begin if Marinemax's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Marinemax executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Marinemax's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-4.1
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables0.75Focus
Asset QualityN/AFocus
Expense Coverage1.0Focus
Gross Margin Strengs0.95Focus
Accruals Factor1.0Focus
Depreciation Resistance1.29Focus
Net Sales Growth1.08Focus
Financial Leverage Condition1.1Focus

Marinemax Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Marinemax's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Revenues2.6 B2.4 B
Significantly Up
Increasing
Slightly volatile
Selling General and Administrative Expense558.3 M517.5 M
Significantly Up
Increasing
Slightly volatile
Net Cash Flow from Operations463.9 M430 M
Significantly Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion14.9 M17.9 M
Significantly Down
Increasing
Slightly volatile
Total Assets945.5 M1.2 B
Significantly Down
Increasing
Slightly volatile
Property Plant and Equipment Net347.9 M322.4 M
Significantly Up
Increasing
Slightly volatile
Trade and Non Trade Receivables44.5 M54.8 M
Significantly Down
Increasing
Slightly volatile
Total Liabilities399.8 M474.9 M
Fairly Down
Increasing
Slightly volatile
Current Assets541.7 M595.1 M
Significantly Down
Increasing
Slightly volatile
Assets Non Current608.4 M563.8 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities289.8 M288.8 M
Slightly Up
Increasing
Slightly volatile
Liabilities Non Current200.8 M186.1 M
Significantly Up
Increasing
Slightly volatile
Total Debt212.8 M209.9 M
Fairly Up
Increasing
Slightly volatile
Debt Current45 M43.8 M
Fairly Up
Decreasing
Stable
Debt Non Current141.1 M166.1 M
Fairly Down
Increasing
Slightly volatile
Operating Income259.9 M240.9 M
Significantly Up
Increasing
Slightly volatile
Gross Margin0.350.37
Notably Down
Increasing
Slightly volatile

Marinemax Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Marinemax's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Marinemax in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Marinemax's degree of accounting gimmicks and manipulations.

About Marinemax Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Operating Expenses

558.32 Million

Share
Marinemax Operating Expenses is quite stable at the moment as compared to the past year. The company's current value of Operating Expenses is estimated at 558.32 Million

Marinemax Earnings Manipulation Drivers

Although earnings manipulation is typically not the result of intentional misconduct by the c-level executives, it is still a widespread practice by the senior management of public companies such as Marinemax. It is usually done by a series of misrepresentations of various accounting rules and operating activities across multiple financial cycles. The best way to spot the manipulation is to examine the historical financial statement to find inconsistencies in earning reports to find trends in assets or liabilities that are not sustainable in the future.
201720182019202020212022 (projected)
Revenues1.18 B1.24 B1.51 B2.06 B2.37 B2.56 B
Total Assets640.54 M784.08 M775.32 M1.01 B1.16 B945.52 M
Current Assets465.29 M568.58 M503.33 M517.52 M595.15 M541.7 M
Assets Non Current175.25 M215.5 M271.99 M490.3 M563.85 M608.36 M
Total Liabilities287.45 M415.26 M319.92 M412.93 M474.87 M399.79 M
Current Liabilities286.01 M412.89 M272.53 M251.09 M288.76 M289.77 M
Total Debt212.95 M312.06 M192.57 M182.55 M209.94 M212.83 M
Debt Current212.95 M312.06 M151.75 M38.1 M43.81 M44.97 M
Operating Income63.18 M60.53 M106.72 M209.46 M240.88 M259.89 M

About Marinemax Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Marinemax's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Marinemax using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Marinemax based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
MarineMax, Inc. operates as a recreational boat and yacht retailer and superyacht services company in the United States. MarineMax, Inc. was incorporated in 1998 and is based in Clearwater, Florida. Marinemax operates under Specialty Retail classification in the United States and is traded on New York Stock Exchange. It employs 2666 people.

Marinemax Investors Sentiment

The influence of Marinemax's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Marinemax. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.

Marinemax Implied Volatility

    
  59.21  
Marinemax's implied volatility exposes the market's sentiment of Marinemax stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Marinemax's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Marinemax stock will not fluctuate a lot when Marinemax's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Marinemax in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Marinemax's short interest history, or implied volatility extrapolated from Marinemax options trading.

Current Sentiment - HZO

Marinemax Investor Sentiment

Greater number of Macroaxis users are currently bullish on Marinemax. What is your trading attitude regarding investing in Marinemax? Are you bullish or bearish?
Bullish
Bearish
98% Bullish
2% Bearish
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Please check Marinemax Piotroski F Score and Marinemax Altman Z Score analysis. Note that the Marinemax information on this page should be used as a complementary analysis to other Marinemax's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.

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Is Marinemax's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Marinemax. If investors know Marinemax will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Marinemax listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Marinemax is measured differently than its book value, which is the value of Marinemax that is recorded on the company's balance sheet. Investors also form their own opinion of Marinemax's value that differs from its market value or its book value, called intrinsic value, which is Marinemax's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Marinemax's market value can be influenced by many factors that don't directly affect Marinemax's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Marinemax's value and its price as these two are different measures arrived at by different means. Investors typically determine Marinemax value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Marinemax's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.