Malibu Boats, Inc. (MBUU) 10-Year Financial Performance & Capital Metrics

MBUU • • Industrial / General

Consumer CyclicalRecreational VehiclesRecreational BoatsPerformance & Sport Boats

AboutMalibu Boats, Inc. engages in the design, engineering, manufacturing, marketing, and sale of a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company offers performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands. Its products are used for a range of recreational boating activities, including water sports, such as water skiing, wakeboarding, and wake surfing, as well as general recreational boating and fishing. The company sells its products through independent dealers in North America, Europe, Asia, the Middle East, South America, South Africa, and Australia/New Zealand. Malibu Boats, Inc. was founded in 1982 and is headquartered in Loudon, Tennessee.Show more

Revenue $808M -2.6%
EBITDA $60M +362.9%
Net Income $15M +126.6%
EPS (Diluted) 0.76 +127.7%
Gross Margin 17.84% +0.6%
EBITDA Margin 7.47% +369.9%
Operating Margin 2.69% +139.9%
Net Margin 1.84% +127.3%
ROE 2.82% +129.0%
ROIC 3.21% +140.1%
Debt/Equity 0.05 +1096.6%
Interest Coverage 11.56 +138.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 3.6% through buybacks
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Weak 3Y average ROE of 3.9%
✗Profits declining 24.7% over 5 years

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.45%

5Y4.34%

3Y-12.73%

TTM11.54%

Profit (Net Income) CAGR

10Y0.15%

5Y-24.72%

3Y-54.47%

TTM123.67%

EPS CAGR

10Y-2%

5Y-23.76%

3Y-53.4%

TTM124.65%

ROCE

10Y Avg19.6%

5Y Avg14.48%

3Y Avg5.19%

Latest3.62%

Peer Comparison

Performance & Sport Boats

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MCFTMasterCraft Boat Holdings, Inc.	366.34M	22.49	52.30	-22.47%	5.5%	8.51%	7.21%
MBUUMalibu Boats, Inc.	654.47M	34.04	44.79	-2.59%	2.31%	3.69%	4.37%	0.05
MPXMarine Products Corporation	332.49M	9.50	19	-38.35%	5.78%	10.42%	7.5%	0.00

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	252.97M	281.94M	497M	684.02M	653.16M	926.51M	1.21B	1.39B	829.03M	807.56M
Revenue Growth %	0.11%	0.11%	0.76%	0.38%	-0.05%	0.42%	0.31%	0.14%	-0.4%	-0.03%
Cost of Goods Sold+	186.15M	206.9M	376.66M	517.75M	503.89M	690.03M	904.83M	1.04B	681.94M	663.47M
COGS % of Revenue	0.74%	0.73%	0.76%	0.76%	0.77%	0.74%	0.74%	0.75%	0.82%	0.82%
Gross Profit+	66.82M	75.04M	120.34M	166.27M	149.27M	236.49M	310.05M	351.3M	147.09M	144.09M
Gross Margin %	0.26%	0.27%	0.24%	0.24%	0.23%	0.26%	0.26%	0.25%	0.18%	0.18%
Gross Profit Growth %	0.11%	0.12%	0.6%	0.38%	-0.1%	0.58%	0.31%	0.13%	-0.58%	-0.02%
Operating Expenses+	30.92M	35.6M	50.27M	68.16M	63.96M	86.71M	96.23M	206.51M	203.04M	122.33M
OpEx % of Revenue	0.12%	0.13%	0.1%	0.1%	0.1%	0.09%	0.08%	0.15%	0.24%	0.15%
Selling, General & Admin	28.73M	33.4M	45.08M	62.2M	57.83M	79.45M	89.27M	199.7M	99.11M	115.53M
SG&A % of Revenue	0.11%	0.12%	0.09%	0.09%	0.09%	0.09%	0.07%	0.14%	0.12%	0.14%
Research & Development	0	2.49M	4.87M	3.19M	0	0	0	0	0	0
R&D % of Revenue	-	0.01%	0.01%	0%	-	-	-	-	-	-
Other Operating Expenses	76K	0	0	5.96M	6.13M	7.25M	6.96M	6.81M	103.94M	6.8M
Operating Income+	35.9M	39.44M	70.07M	98.11M	85.31M	149.78M	213.82M	144.78M	-55.95M	21.76M
Operating Margin %	0.14%	0.14%	0.14%	0.14%	0.13%	0.16%	0.18%	0.1%	-0.07%	0.03%
Operating Income Growth %	0.15%	0.1%	0.78%	0.4%	-0.13%	0.76%	0.43%	-0.32%	-1.39%	1.39%
EBITDA+	41.43M	46.19M	82.92M	114.07M	103.69M	172.67M	240.15M	173.5M	-22.96M	60.35M
EBITDA Margin %	0.16%	0.16%	0.17%	0.17%	0.16%	0.19%	0.2%	0.12%	-0.03%	0.07%
EBITDA Growth %	0.23%	0.11%	0.8%	0.38%	-0.09%	0.67%	0.39%	-0.28%	-1.13%	3.63%
D&A (Non-Cash Add-back)	5.52M	6.75M	12.85M	15.96M	18.38M	22.89M	26.32M	28.72M	32.99M	38.59M
EBIT	35.98M	50.23M	94.77M	98.26M	87.62M	160.7M	213.82M	144.45M	-55.94M	22.15M
Net Interest Income+	-3.88M	-1.56M	-5.38M	-6.46M	-3.89M	-2.53M	-2.88M	-2.96M	-1.84M	-1.88M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	3.88M	1.56M	5.38M	6.46M	3.89M	2.53M	2.88M	2.96M	1.84M	1.88M
Other Income/Expense	-3.81M	9.23M	19.32M	-6.32M	-1.58M	-1.51M	-3.86M	-3.29M	-1.84M	-1.5M
Pretax Income+	32.1M	48.67M	89.39M	91.8M	83.73M	148.26M	209.97M	141.49M	-57.78M	20.26M
Pretax Margin %	0.13%	0.17%	0.18%	0.13%	0.13%	0.16%	0.17%	0.1%	-0.07%	0.03%
Income Tax+	11.8M	17.59M	58.42M	22.1M	19.08M	33.98M	46.53M	33.58M	-1.34M	5.02M
Effective Tax Rate %	0.56%	0.58%	0.31%	0.72%	0.74%	0.74%	0.75%	0.74%	0.97%	0.73%
Net Income+	18.04M	28.36M	27.61M	66.07M	61.56M	109.84M	157.63M	104.51M	-55.91M	14.88M
Net Margin %	0.07%	0.1%	0.06%	0.1%	0.09%	0.12%	0.13%	0.08%	-0.07%	0.02%
Net Income Growth %	0.23%	0.57%	-0.03%	1.39%	-0.07%	0.78%	0.44%	-0.34%	-1.53%	1.27%
Net Income (Continuing)	20.3M	31.07M	30.97M	69.7M	64.66M	114.28M	163.43M	107.91M	-56.44M	15.24M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	4.68M	3.07M	5.5M	6.12M	6.95M	10.39M	10.39M	7.87M	4.71M	4.37M
EPS (Diluted)+	1.00	1.58	1.36	3.15	2.95	5.23	7.51	5.06	-2.74	0.76
EPS Growth %	0.08%	0.58%	-0.14%	1.32%	-0.06%	0.77%	0.44%	-0.33%	-1.54%	1.28%
EPS (Basic)	1.01	1.59	1.37	3.17	2.98	5.29	7.60	5.10	-2.74	0.76
Diluted Shares Outstanding	17.99M	17.95M	20.28M	20.97M	20.85M	21.01M	20.99M	20.64M	20.44M	19.69M
Basic Shares Outstanding	17.93M	17.85M	20.18M	20.83M	20.66M	20.75M	20.75M	20.5M	20.44M	19.66M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	64.71M	70.08M	133.91M	127.65M	124.45M	298.5M	298.5M	326.33M	202.13M	219.89M
Cash & Short-Term Investments	25.92M	32.82M	61.62M	27.39M	33.79M	83.74M	83.74M	78.94M	26.95M	37M
Cash Only	25.92M	32.82M	61.62M	27.39M	33.79M	83.74M	83.74M	78.94M	26.95M	37M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	15.65M	10.96M	24.73M	28.02M	13.77M	51.6M	51.6M	68.38M	23.8M	33.41M
Days Sales Outstanding	22.59	14.19	18.16	14.95	7.69	20.33	15.5	17.98	10.48	15.1
Inventory	20.43M	23.84M	44.27M	67.77M	72.95M	157M	157M	171.19M	145.57M	142.16M
Days Inventory Outstanding	40.06	42.05	42.9	47.77	52.84	83.05	63.33	60.25	77.92	78.21
Other Current Assets	0	0	0	0	0	0	0	7.83M	0	3.06M
Total Non-Current Assets+	155.82M	153.58M	231.85M	323.66M	352.89M	552.83M	552.83M	599.59M	537.5M	514.69M
Property, Plant & Equipment	17.81M	24.12M	40.84M	65.76M	94.31M	170.72M	170.72M	204.79M	244.6M	235.88M
Fixed Asset Turnover	14.20x	11.69x	12.17x	10.40x	6.93x	5.43x	7.12x	6.78x	3.39x	3.42x
Goodwill	12.47M	12.69M	32.23M	51.4M	51.27M	100.8M	100.8M	100.58M	51.41M	51.31M
Intangible Assets	11.7M	9.6M	94.22M	146.06M	139.89M	228.3M	228.3M	221.46M	175.45M	168.63M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	32K	79K	453K	35K	14.48M	10.69M	10.69M	10.19M	7.93M	7.27M
Total Assets+	220.53M	223.66M	365.77M	451.31M	477.35M	851.33M	851.33M	925.92M	739.62M	734.58M
Asset Turnover	1.15x	1.26x	1.36x	1.52x	1.37x	1.09x	1.43x	1.50x	1.12x	1.10x
Asset Growth %	0.17%	0.01%	0.64%	0.23%	0.06%	0.78%	0%	0.09%	-0.2%	-0.01%
Total Current Liabilities+	47.83M	39.19M	65.39M	75.33M	70.16M	139.3M	139.3M	232.44M	138.59M	134.61M
Accounts Payable	16.16M	12.72M	24.35M	21.17M	15.85M	44.37M	44.37M	40.4M	19.15M	24.42M
Days Payables Outstanding	31.68	22.44	23.6	14.93	11.48	23.47	17.9	14.22	10.25	13.43
Short-Term Debt	8M	0	0	0	0	1.56M	1.56M	0	0	0
Deferred Revenue (Current)	0	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	15.97M	14.9M	9.03M	28.88M	9.88M	21.08M	21.08M	19.67M	13.79M	15.44M
Current Ratio	1.35x	1.79x	2.05x	1.69x	1.77x	2.14x	2.14x	1.40x	1.46x	1.63x
Quick Ratio	0.93x	1.18x	1.37x	0.79x	0.73x	1.02x	1.02x	0.67x	0.41x	0.58x
Cash Conversion Cycle	30.97	33.79	37.46	47.8	49.05	79.91	60.94	64.01	78.15	79.88
Total Non-Current Liabilities+	154.47M	132.24M	160.51M	165.63M	145.66M	198.46M	198.46M	77.73M	66.32M	80.13M
Long-Term Debt	63.09M	53.4M	108.49M	113.63M	82.84M	118.05M	118.05M	0	0	18M
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	4.92M
Deferred Tax Liabilities	685K	552K	341K	145K	14K	26.96M	26.96M	28.45M	17.66M	14.67M
Other Non-Current Liabilities	90.7M	78.29M	51.68M	51.85M	62.8M	53.44M	53.44M	49.28M	48.66M	42.54M
Total Liabilities	202.3M	171.43M	225.9M	240.96M	215.82M	337.76M	337.76M	310.17M	204.91M	214.75M
Total Debt+	71.09M	53.4M	108.49M	113.63M	84.84M	121.74M	121.74M	2.32M	2.18M	25.32M
Net Debt	45.16M	20.58M	46.86M	86.24M	51.06M	37.99M	37.99M	-76.61M	-24.77M	-11.68M
Debt / Equity	3.90x	1.02x	0.78x	0.54x	0.32x	0.24x	0.24x	0.00x	0.00x	0.05x
Debt / EBITDA	1.72x	1.16x	1.31x	1.00x	0.82x	0.71x	0.51x	0.01x	-	0.42x
Net Debt / EBITDA	1.09x	0.45x	0.57x	0.76x	0.49x	0.22x	0.16x	-0.44x	-	-0.19x
Interest Coverage	9.24x	25.30x	13.01x	15.18x	21.94x	59.22x	74.37x	48.88x	-30.37x	11.56x
Total Equity+	18.23M	52.24M	139.87M	210.35M	261.53M	513.57M	513.57M	615.75M	534.72M	519.83M
Equity Growth %	2.62%	1.86%	1.68%	0.5%	0.24%	0.96%	0%	0.2%	-0.13%	-0.03%
Book Value per Share	1.01	2.91	6.90	10.03	12.54	24.44	24.47	29.83	26.16	26.39
Total Shareholders' Equity	13.55M	49.16M	134.37M	204.24M	254.58M	503.17M	503.17M	607.88M	530.01M	515.46M
Common Stock	176K	179K	204K	207K	204K	203K	203K	204K	200K	190K
Retained Earnings	-28.3M	151K	27.79M	93.85M	153.71M	421.18M	421.18M	525.7M	469.79M	484.66M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-2.47M	-2M	-1.98M	-2.83M	-3.13M	-3.51M	-3.51M	-4.34M	-4.2M	-4.65M
Minority Interest	4.68M	3.07M	5.5M	6.12M	6.95M	10.39M	10.39M	7.87M	4.71M	4.37M

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	35.6M	35.86M	58.45M	81.5M	94.14M	164.85M	164.85M	184.73M	55.56M	56.51M
Operating CF Margin %	0.14%	0.13%	0.12%	0.12%	0.14%	0.18%	0.14%	0.13%	0.07%	0.07%
Operating CF Growth %	1.84%	0.01%	0.63%	0.39%	0.16%	0.75%	0%	0.12%	-0.7%	0.02%
Net Income	20.3M	31.07M	30.97M	69.7M	64.66M	163.43M	163.43M	107.91M	-55.91M	15.24M
Depreciation & Amortization	5.52M	6.75M	12.85M	15.96M	18.38M	26.32M	26.32M	28.72M	32.99M	38.59M
Stock-Based Compensation	1.95M	2.08M	2.81M	3.4M	3.87M	7.4M	7.4M	7.03M	6.45M	7.01M
Deferred Taxes	5.18M	1.44M	21.16M	6.69M	7.04M	5.82M	5.82M	-15.97M	-4.36M	3.52M
Other Non-Cash Items	1.5M	-8.22M	-3.5M	-3.06M	-1.25M	-2.35M	-2.35M	-2.29M	94.64M	2.39M
Working Capital Changes	1.16M	2.73M	-5.83M	-11.19M	1.44M	-35.77M	-35.77M	59.34M	-18.25M	-10.25M
Change in Receivables	-5.21M	4.87M	-12.18M	-3.04M	14.19M	-1.78M	-1.78M	-16.8M	45.26M	106K
Change in Inventory	-52K	-3.3M	-6.34M	-15.41M	-5.26M	-38.05M	-38.05M	-14.36M	25.7M	3.37M
Change in Payables	7M	-5.02M	4.61M	-2.79M	-5.81M	-287K	-287K	-5.15M	-20.61M	6.56M
Cash from Investing+	-5.99M	-9.25M	-135.86M	-118.01M	-40.39M	-61.62M	-61.62M	-54.64M	-75.84M	-27.37M
Capital Expenditures	-6.18M	-9.26M	-10.45M	-17.94M	-41.29M	-55.06M	-55.06M	-54.84M	-75.96M	-27.92M
CapEx % of Revenue	0.02%	0.03%	0.02%	0.03%	0.06%	0.06%	0.05%	0.04%	0.09%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	186K	16K	145K	0	897K	9K	9K	202K	120K	543K
Cash from Financing+	-12.02M	-19.72M	106.2M	2.38M	-47.32M	-60.38M	-60.38M	-134.57M	-31.7M	-18.82M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.54M	-1.53M	-4.12M	-1.41M	-2.29M	-1.49M	570K	-5.22M	-2.38M	-865K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	29.43M	26.59M	48.01M	63.56M	52.85M	109.78M	109.78M	129.89M	-20.4M	28.59M
FCF Margin %	0.12%	0.09%	0.1%	0.09%	0.08%	0.12%	0.09%	0.09%	-0.02%	0.04%
FCF Growth %	3.15%	-0.1%	0.81%	0.32%	-0.17%	1.08%	0%	0.18%	-1.16%	2.4%
FCF per Share	1.64	1.48	2.37	3.03	2.53	5.22	5.23	6.29	-1.00	1.45
FCF Conversion (FCF/Net Income)	1.97x	1.26x	2.12x	1.23x	1.53x	1.50x	1.05x	1.77x	-0.99x	3.80x
Interest Paid	3.14M	2.3M	4.35M	6.01M	3.81M	2.29M	2.29M	3.06M	3.05M	1.95M
Taxes Paid	8.12M	7.17M	9.89M	14.17M	10.53M	42.06M	42.06M	50.52M	4.93M	2.48M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	518.3%	80.48%	28.75%	37.73%	26.09%	28.34%	30.69%	18.51%	-9.72%	2.82%
Return on Invested Capital (ROIC)	44.06%	43.43%	40.49%	30.45%	21.01%	26%	29.08%	19.91%	-8%	3.21%
Gross Margin	26.41%	26.62%	24.21%	24.31%	22.85%	25.52%	25.52%	25.3%	17.74%	17.84%
Net Margin	7.13%	10.06%	5.56%	9.66%	9.43%	11.86%	12.98%	7.53%	-6.74%	1.84%
Debt / Equity	3.90x	1.02x	0.78x	0.54x	0.32x	0.24x	0.24x	0.00x	0.00x	0.05x
Interest Coverage	9.24x	25.30x	13.01x	15.18x	21.94x	59.22x	74.37x	48.88x	-30.37x	11.56x
FCF Conversion	1.97x	1.26x	2.12x	1.23x	1.53x	1.50x	1.05x	1.77x	-0.99x	3.80x
Revenue Growth	10.65%	11.45%	76.28%	37.63%	-4.51%	41.85%	31.12%	14.28%	-40.29%	-2.59%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Malibu	20.85M	23M	316.69M	374.61M	354.77M	483.52M	607.54M	636.25M	279.13M	312.7M
Malibu Growth	-	10.29%	1277.20%	18.29%	-5.30%	36.29%	25.65%	4.72%	-56.13%	12.03%
Pursuit Boats	-	-	-	-	123.63M	-	-	-	-	279.63M
Pursuit Boats Growth	-	-	-	-	-	-	-	-	-	-
Cobalt	-	-	180.31M	206.6M	174.77M	200.08M	265.4M	302.96M	222.36M	215.23M
Cobalt Growth	-	-	-	14.58%	-15.41%	14.48%	32.65%	14.15%	-26.60%	-3.21%
Saltwater Fishing	-	-	-	-	-	242.91M	341.93M	449.16M	327.54M	-
Saltwater Fishing Growth	-	-	-	-	-	-	40.76%	31.36%	-27.08%	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
North America	-	-	-	630.93M	610.17M	860.82M	1.14B	1.31B	779.11M	758.66M
North America Growth	-	-	-	-	-3.29%	41.08%	32.37%	15.40%	-40.75%	-2.63%
International	-	-	-	53.09M	43M	65.7M	75.42M	73.49M	49.92M	48.9M
International Growth	-	-	-	-	-19.01%	52.80%	14.80%	-2.56%	-32.06%	-2.05%
Malibu US	-	-	302.12M	-	-	-	-	-	-	-
Malibu US Growth	-	-	-	-	-	-	-	-	-	-
Malibu Australia	-	-	23.45M	-	-	-	-	-	-	-
Malibu Australia Growth	-	-	-	-	-	-	-	-	-	-
US segment	239.69M	267.55M	-	-	-	-	-	-	-	-
US segment Growth	-	11.62%	-	-	-	-	-	-	-	-
Australia	20.85M	23M	-	-	-	-	-	-	-	-
Australia Growth	-	10.29%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Malibu Boats, Inc. (MBUU) has a price-to-earnings (P/E) ratio of 44.8x. This suggests investors expect higher future growth.

Growth & Financials

Malibu Boats, Inc. (MBUU) reported $830.7M in revenue for fiscal year 2025. This represents a 490% increase from $140.9M in 2012.

Malibu Boats, Inc. (MBUU) saw revenue decline by 2.6% over the past year.

Yes, Malibu Boats, Inc. (MBUU) is profitable, generating $19.2M in net income for fiscal year 2025 (1.8% net margin).

Dividend & Returns

Malibu Boats, Inc. (MBUU) has a return on equity (ROE) of 2.8%. This is below average, suggesting room for improvement.

Malibu Boats, Inc. (MBUU) generated $47.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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