HZOMarineMax, Inc.
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (BBB) and big price swings.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -73% · now at/near its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can HZO take a bad year?
MarineMax, Inc. carries $796M of net debt at 6.77× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q3 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 6.77×
Net debt / EBITDA · 10.4× a year ago · the load is coming down
- Interest cover
- 1.08×
Interest cover · operating profit barely covers the interest bill
- Annualised volatility
- 64%
Annualised volatility · three times the market's own swing
Details›
- Total debtQ3 2026
- $971M
- Cash and short-term investments
- $175M
- Net debt
- $796M
- EBITDA, trailing twelve months
- $118M
- Operating profit, trailing twelve months
- $67M
- Debt / equity
- 1.02×
- Total debt / EBITDA
- 8.25×
- Annualised volatilitytwo years of daily moves
- 64%
- Worst drawdown on file
- −73%
- Below its 52-week high
- 0.13%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.