Intrinsic value of MarineMax - HZO

Previous Close

$19.65

  Intrinsic Value

$2.83

stock screener

  Rating & Target

str. sell

-86%

Previous close

$19.65

 
Intrinsic value

$2.83

 
Up/down potential

-86%

 
Rating

str. sell

We calculate the intrinsic value of HZO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  11.70
  11.03
  10.43
  9.88
  9.40
  8.96
  8.56
  8.20
  7.88
  7.60
  7.34
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.01
  5.91
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.32
Revenue, $m
  1,175
  1,305
  1,441
  1,583
  1,732
  1,887
  2,049
  2,217
  2,391
  2,573
  2,762
  2,958
  3,162
  3,374
  3,594
  3,823
  4,062
  4,311
  4,569
  4,839
  5,121
  5,414
  5,721
  6,041
  6,375
  6,724
  7,090
  7,472
  7,872
  8,290
Variable operating expenses, $m
  1,121
  1,244
  1,373
  1,509
  1,650
  1,798
  1,951
  2,111
  2,278
  2,450
  2,627
  2,813
  3,007
  3,209
  3,419
  3,637
  3,864
  4,100
  4,346
  4,603
  4,871
  5,150
  5,441
  5,746
  6,064
  6,396
  6,743
  7,107
  7,487
  7,885
Fixed operating expenses, $m
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  5
  5
  5
  5
  6
  6
  6
Total operating expenses, $m
  1,124
  1,247
  1,376
  1,512
  1,653
  1,801
  1,954
  2,115
  2,282
  2,454
  2,631
  2,817
  3,011
  3,213
  3,423
  3,641
  3,868
  4,104
  4,351
  4,608
  4,876
  5,155
  5,446
  5,751
  6,069
  6,401
  6,748
  7,113
  7,493
  7,891
Operating income, $m
  51
  58
  64
  71
  78
  86
  94
  102
  110
  119
  131
  141
  150
  161
  171
  183
  194
  206
  219
  232
  245
  260
  275
  290
  306
  323
  341
  359
  379
  399
EBITDA, $m
  71
  79
  87
  96
  105
  115
  125
  136
  146
  158
  169
  182
  194
  208
  221
  236
  251
  266
  282
  299
  317
  335
  354
  374
  395
  417
  439
  463
  488
  514
Interest expense (income), $m
  8
  14
  16
  18
  20
  23
  26
  28
  31
  34
  37
  40
  43
  47
  50
  54
  58
  62
  66
  70
  75
  79
  84
  89
  95
  100
  106
  112
  118
  125
  132
Earnings before tax, $m
  38
  42
  46
  51
  55
  60
  65
  71
  76
  82
  91
  97
  104
  110
  117
  125
  132
  140
  148
  157
  166
  175
  185
  195
  206
  217
  229
  241
  254
  267
Tax expense, $m
  10
  11
  12
  14
  15
  16
  18
  19
  21
  22
  25
  26
  28
  30
  32
  34
  36
  38
  40
  42
  45
  47
  50
  53
  56
  59
  62
  65
  69
  72
Net income, $m
  27
  30
  34
  37
  40
  44
  48
  52
  56
  60
  66
  71
  76
  81
  86
  91
  97
  102
  108
  115
  121
  128
  135
  143
  150
  159
  167
  176
  185
  195

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  715
  794
  876
  963
  1,053
  1,148
  1,246
  1,348
  1,455
  1,565
  1,680
  1,799
  1,923
  2,052
  2,186
  2,326
  2,471
  2,622
  2,779
  2,944
  3,115
  3,293
  3,480
  3,674
  3,878
  4,090
  4,312
  4,545
  4,788
  5,043
Adjusted assets (=assets-cash), $m
  715
  794
  876
  963
  1,053
  1,148
  1,246
  1,348
  1,455
  1,565
  1,680
  1,799
  1,923
  2,052
  2,186
  2,326
  2,471
  2,622
  2,779
  2,944
  3,115
  3,293
  3,480
  3,674
  3,878
  4,090
  4,312
  4,545
  4,788
  5,043
Revenue / Adjusted assets
  1.643
  1.644
  1.645
  1.644
  1.645
  1.644
  1.644
  1.645
  1.643
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
  1.644
Average production assets, $m
  163
  181
  200
  220
  241
  262
  285
  308
  332
  358
  384
  411
  439
  469
  500
  531
  565
  599
  635
  673
  712
  753
  795
  840
  886
  935
  985
  1,039
  1,094
  1,152
Working capital, $m
  418
  464
  513
  564
  617
  672
  729
  789
  851
  916
  983
  1,053
  1,126
  1,201
  1,280
  1,361
  1,446
  1,535
  1,627
  1,723
  1,823
  1,927
  2,037
  2,150
  2,269
  2,394
  2,524
  2,660
  2,802
  2,951
Total debt, $m
  294
  335
  379
  425
  472
  522
  574
  628
  684
  743
  803
  866
  932
  1,000
  1,071
  1,144
  1,221
  1,301
  1,384
  1,470
  1,561
  1,655
  1,753
  1,856
  1,964
  2,076
  2,193
  2,316
  2,444
  2,579
Total liabilities, $m
  377
  419
  463
  508
  556
  606
  658
  712
  768
  826
  887
  950
  1,015
  1,084
  1,154
  1,228
  1,305
  1,384
  1,468
  1,554
  1,645
  1,739
  1,837
  1,940
  2,047
  2,160
  2,277
  2,400
  2,528
  2,662
Total equity, $m
  337
  375
  414
  455
  497
  542
  588
  636
  687
  739
  793
  849
  908
  969
  1,032
  1,098
  1,166
  1,238
  1,312
  1,389
  1,470
  1,554
  1,642
  1,734
  1,830
  1,931
  2,035
  2,145
  2,260
  2,380
Total liabilities and equity, $m
  714
  794
  877
  963
  1,053
  1,148
  1,246
  1,348
  1,455
  1,565
  1,680
  1,799
  1,923
  2,053
  2,186
  2,326
  2,471
  2,622
  2,780
  2,943
  3,115
  3,293
  3,479
  3,674
  3,877
  4,091
  4,312
  4,545
  4,788
  5,042
Debt-to-equity ratio
  0.870
  0.890
  0.920
  0.930
  0.950
  0.960
  0.980
  0.990
  1.000
  1.010
  1.010
  1.020
  1.030
  1.030
  1.040
  1.040
  1.050
  1.050
  1.050
  1.060
  1.060
  1.060
  1.070
  1.070
  1.070
  1.080
  1.080
  1.080
  1.080
  1.080
Adjusted equity ratio
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472
  0.472

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  27
  30
  34
  37
  40
  44
  48
  52
  56
  60
  66
  71
  76
  81
  86
  91
  97
  102
  108
  115
  121
  128
  135
  143
  150
  159
  167
  176
  185
  195
Depreciation, amort., depletion, $m
  19
  21
  23
  25
  27
  29
  31
  34
  36
  39
  38
  41
  44
  47
  50
  53
  56
  60
  64
  67
  71
  75
  80
  84
  89
  93
  99
  104
  109
  115
Funds from operations, $m
  47
  52
  57
  62
  67
  73
  79
  85
  92
  99
  105
  112
  120
  128
  136
  144
  153
  162
  172
  182
  192
  203
  215
  227
  239
  252
  266
  280
  295
  310
Change in working capital, $m
  44
  46
  48
  51
  53
  55
  58
  60
  62
  65
  67
  70
  73
  75
  78
  82
  85
  88
  92
  96
  100
  105
  109
  114
  119
  124
  130
  136
  142
  149
Cash from operations, $m
  3
  5
  8
  11
  15
  18
  22
  26
  30
  34
  38
  42
  47
  52
  57
  63
  68
  74
  80
  86
  92
  99
  106
  113
  120
  128
  136
  144
  152
  161
Maintenance CAPEX, $m
  -15
  -16
  -18
  -20
  -22
  -24
  -26
  -28
  -31
  -33
  -36
  -38
  -41
  -44
  -47
  -50
  -53
  -56
  -60
  -64
  -67
  -71
  -75
  -80
  -84
  -89
  -93
  -99
  -104
  -109
New CAPEX, $m
  -17
  -18
  -19
  -20
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -31
  -32
  -33
  -35
  -36
  -38
  -39
  -41
  -43
  -44
  -46
  -49
  -51
  -53
  -56
  -58
Cash from investing activities, $m
  -32
  -34
  -37
  -40
  -43
  -46
  -48
  -51
  -55
  -58
  -62
  -65
  -69
  -73
  -78
  -82
  -86
  -91
  -96
  -102
  -106
  -112
  -118
  -124
  -130
  -138
  -144
  -152
  -160
  -167
Free cash flow, $m
  -29
  -29
  -29
  -29
  -28
  -28
  -27
  -26
  -25
  -25
  -24
  -23
  -22
  -21
  -20
  -19
  -18
  -17
  -16
  -15
  -14
  -13
  -12
  -11
  -10
  -10
  -9
  -8
  -7
  -6
Issuance/(repayment) of debt, $m
  39
  42
  44
  46
  48
  50
  52
  54
  56
  58
  61
  63
  65
  68
  71
  74
  77
  80
  83
  87
  90
  94
  98
  103
  107
  112
  117
  123
  128
  134
Issuance/(repurchase) of shares, $m
  8
  7
  5
  4
  2
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  47
  49
  49
  50
  50
  51
  52
  54
  56
  58
  61
  63
  65
  68
  71
  74
  77
  80
  83
  87
  90
  94
  98
  103
  107
  112
  117
  123
  128
  134
Total cash flow (excl. dividends), $m
  18
  19
  20
  21
  22
  23
  25
  28
  31
  34
  36
  40
  43
  47
  50
  54
  58
  63
  67
  71
  76
  81
  86
  91
  97
  103
  109
  115
  121
  128
Retained Cash Flow (-), $m
  -35
  -37
  -39
  -41
  -43
  -45
  -46
  -48
  -50
  -52
  -54
  -56
  -59
  -61
  -63
  -66
  -69
  -71
  -74
  -77
  -81
  -84
  -88
  -92
  -96
  -100
  -105
  -110
  -115
  -120
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  6
  7
  8
  9
  9
  10
  11
  12
  13
  14
  15
  17
  18
  19
  20
  22
  23
  24
  26
  27
  29
  31
  32
  34
  36
  38
  40
  43
  45
  47
Cash available for distribution, $m
  -17
  -18
  -19
  -20
  -21
  -22
  -21
  -21
  -19
  -18
  -18
  -17
  -15
  -14
  -13
  -11
  -10
  -9
  -7
  -6
  -5
  -3
  -2
  0
  1
  2
  4
  5
  7
  8
Discount rate, %
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
  34.58
PV of cash for distribution, $m
  -16
  -15
  -14
  -14
  -13
  -12
  -10
  -8
  -7
  -5
  -4
  -3
  -2
  -2
  -1
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  98.3
  97.1
  96.2
  95.6
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3
  95.3

MarineMax, Inc. is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016. The Company also sells related marine products, including engines, trailers, parts and accessories. In addition, it provides repair, maintenance, and slip and storage services; arranges related boat financing, insurance, and extended service contracts; offers boat and yacht brokerage sales, and operates a yacht charter business. The Company primarily sells recreational boats, including pleasure boats and fishing boats. The Company offers marine engines and equipment and sells marine engines and propellers primarily to retail customers as replacements for their existing engines or propellers.

FINANCIAL RATIOS  of  MarineMax (HZO)

Valuation Ratios
P/E Ratio 17.9
Price to Sales 0.4
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 86
Price to Free Cash Flow -47.8
Growth Rates
Sales Growth Rate 11.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 7.7%
Cap. Spend. - 3 Yr. Gr. Rate 9.2%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 84.1%
Interest Coverage 6
Management Effectiveness
Return On Assets 4.9%
Ret/ On Assets - 3 Yr. Avg. 8%
Return On Total Capital 4.6%
Ret/ On T. Cap. - 3 Yr. Avg. 7.3%
Return On Equity 7.8%
Return On Equity - 3 Yr. Avg. 11.3%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 25.2%
Gross Margin - 3 Yr. Avg. 24.6%
EBITDA Margin 5.2%
EBITDA Margin - 3 Yr. Avg. 5%
Operating Margin 4.3%
Oper. Margin - 3 Yr. Avg. 4%
Pre-Tax Margin 3.6%
Pre-Tax Margin - 3 Yr. Avg. 3.4%
Net Profit Margin 2.3%
Net Profit Margin - 3 Yr. Avg. 3.7%
Effective Tax Rate 36.8%
Eff/ Tax Rate - 3 Yr. Avg. -19.1%
Payout Ratio 0%

HZO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HZO stock intrinsic value calculation we used $1052 million for the last fiscal year's total revenue generated by MarineMax. The default revenue input number comes from 2017 income statement of MarineMax. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our HZO stock valuation model: a) initial revenue growth rate of 11.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.4%, whose default value for HZO is calculated based on our internal credit rating of MarineMax, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of MarineMax.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of HZO stock the variable cost ratio is equal to 95.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $3 million in the base year in the intrinsic value calculation for HZO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for MarineMax.

Corporate tax rate of 27% is the nominal tax rate for MarineMax. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the HZO stock is equal to 0.6%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for HZO are equal to 13.9%.

Life of production assets of 10 years is the average useful life of capital assets used in MarineMax operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for HZO is equal to 35.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $302 million for MarineMax - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 24 million for MarineMax is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of MarineMax at the current share price and the inputted number of shares is $0.5 billion.

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COMPANY NEWS

▶ Bear of the Day: MarineMax (HZO)   [07:00AM  Zacks]
▶ MarineMax: Fiscal 3Q Earnings Snapshot   [Jul-26-18 07:05AM  Associated Press]
▶ MarineMax to Webcast Third Quarter 2018 Results   [Jul-19-18 08:00AM  Business Wire]
▶ Harbor East Marina completes its $9 million renovation in time for a major yacht expo   [Jul-10-18 11:29AM  American City Business Journals]
▶ MarineMax Provides Update on Sea Ray   [Jun-25-18 10:58AM  Business Wire]
▶ How Clearwater boat retailer MarineMax celebrated a big anniversary   [Jun-07-18 06:52AM  American City Business Journals]
▶ Closing Bell Ringer: June 6, 2018   [Jun-06-18 04:00PM  CNBC Videos]
▶ Northeast Minneapolis Ramada gets new brand after $14 million upgrade   [Jun-05-18 05:30PM  American City Business Journals]
▶ MarineMax: Fiscal 2Q Earnings Snapshot   [07:23AM  Associated Press]
▶ Earnings Preview For MarineMax   [Apr-25-18 03:52PM  Benzinga]
▶ MarineMax to Webcast Second Quarter 2018 Results   [Apr-19-18 04:15PM  Business Wire]
▶ MarineMax Stock Upgraded: What You Need to Know   [Jan-25-18 12:52PM  Motley Fool]
▶ MarineMax tops Street 1Q forecasts   [Jan-24-18 07:03AM  Associated Press]
▶ MarineMax Expands In The Mid-Atlantic   [Jan-23-18 08:00AM  Business Wire]
▶ MarineMax to Webcast First Quarter 2018 Results   [Jan-17-18 04:15PM  Business Wire]
▶ 5 Stocks That Look Good Short   [Jan-13-18 12:00PM  TheStreet.com]
▶ When Should You Buy MarineMax Inc (NYSE:HZO)?   [Jan-05-18 04:20PM  Simply Wall St.]
▶ ETFs with exposure to MarineMax, Inc. : December 26, 2017   [Dec-26-17 11:38AM  Capital Cube]
▶ ETFs with exposure to MarineMax, Inc. : December 8, 2017   [Dec-08-17 01:02PM  Capital Cube]
▶ No tricks, all treats for WellCare, MarineMax stocks on Halloween   [08:33AM  American City Business Journals]
▶ ETFs with exposure to MarineMax, Inc. : October 31, 2017   [Oct-31-17 11:41AM  Capital Cube]
▶ MarineMax beats Street 4Q forecasts   [07:07AM  Associated Press]
▶ MarineMax to Webcast Fourth Quarter 2017 Results   [Oct-25-17 07:00AM  Business Wire]
▶ MarineMax names new president   [Oct-02-17 12:58PM  American City Business Journals]
▶ MarineMax Promotes Executive   [08:00AM  Business Wire]
▶ MarineMax Provides Update Related to Hurricane Irma   [Sep-12-17 04:55PM  Business Wire]
▶ ETFs with exposure to MarineMax, Inc. : August 8, 2017   [Aug-08-17 04:38PM  Capital Cube]
▶ MarineMax Announces Stock Repurchase Program   [Aug-02-17 05:03PM  Business Wire]
▶ New Strong Sell Stocks for July 24th   [Jul-24-17 09:49AM  Zacks]
▶ MarineMax misses Street 3Q forecasts   [12:20AM  Associated Press]
▶ MarineMax to Webcast Third Quarter 2017 Results   [Jul-13-17 05:02PM  Business Wire]
▶ MarineMax, Inc. Value Analysis (NYSE:HZO) : June 30, 2017   [Jun-30-17 03:56PM  Capital Cube]
▶ MarineMax Expands Financing Capacity   [May-11-17 08:00AM  Business Wire]
▶ ETFs with exposure to MarineMax, Inc. : May 8, 2017   [May-08-17 04:44PM  Capital Cube]
▶ MarineMax misses 2Q profit forecasts   [Apr-27-17 08:20AM  Associated Press]
▶ MarineMax to Webcast Second Quarter 2017 Results   [Apr-20-17 09:00AM  Business Wire]
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