Latest Ratios: P/E Ratio 30.5x · EV/EBITDA 7.4x · ROE 2.8%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $456M | $617M | $716M | $1.2B | $1.1B | $1.5B | $1.1B | $815M | $851M | $464M | $217M |
| Enterprise Value | $444M | $606M | $691M | $1.1B | $1.1B | $1.6B | $1.1B | $901M | $897M | $485M | $262M |
| P/E Ratio → | 30.54 | 41.24 | — | 11.59 | 7.02 | 14.02 | 17.61 | 12.33 | 30.84 | 16.37 | 12.08 |
| P/S Ratio | 0.56 | 0.76 | 0.86 | 0.87 | 0.91 | 1.66 | 1.66 | 1.19 | 1.71 | 1.65 | 0.86 |
| P/B Ratio | 0.88 | 1.19 | 1.34 | 1.97 | 2.15 | 3.00 | 4.14 | 3.87 | 6.08 | 8.89 | 11.92 |
| P/FCF | 15.94 | 21.59 | — | 9.32 | 10.08 | 15.31 | 20.50 | 12.82 | 17.72 | 17.46 | 7.38 |
| P/OCF | 8.07 | 10.92 | 12.89 | 6.55 | 6.71 | 11.73 | 11.51 | 9.99 | 14.55 | 12.95 | 6.10 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.75 | 0.83 | 0.82 | 0.94 | 1.70 | 1.74 | 1.32 | 1.81 | 1.72 | 1.04 |
| EV / EBITDA | 7.36 | 10.03 | — | 6.54 | 4.76 | 9.14 | 10.94 | 7.90 | 10.82 | 10.50 | 6.33 |
| EV / EBIT | 20.41 | 27.34 | — | 7.85 | 5.35 | 9.82 | 12.95 | 9.17 | 9.47 | 9.66 | 7.29 |
| EV / FCF | — | 21.18 | — | 8.73 | 10.42 | 15.69 | 21.46 | 14.17 | 18.69 | 18.24 | 8.92 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.8% | 17.8% | 17.7% | 25.3% | 25.5% | 25.5% | 22.9% | 24.3% | 24.2% | 26.6% | 26.4% |
| Operating Margin | 2.7% | 2.7% | -6.7% | 10.4% | 17.6% | 16.2% | 13.1% | 14.3% | 14.1% | 14.0% | 14.2% |
| Net Profit Margin | 1.8% | 1.8% | -6.7% | 7.5% | 13.0% | 11.9% | 9.4% | 9.7% | 5.6% | 10.1% | 7.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.8% | 2.8% | -9.7% | 18.5% | 30.7% | 28.3% | 26.1% | 37.7% | 28.7% | 80.5% | 518.3% |
| ROA | 2.0% | 2.0% | -6.7% | 11.8% | 18.5% | 16.5% | 13.3% | 16.2% | 9.4% | 12.8% | 8.8% |
| ROIC | 3.2% | 3.2% | -8.0% | 19.9% | 29.1% | 26.0% | 21.0% | 30.4% | 40.5% | 43.4% | 44.1% |
| ROCE | 3.6% | 3.6% | -8.6% | 20.6% | 30.0% | 26.8% | 21.8% | 29.0% | 28.9% | 22.1% | 21.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.00 | 0.00 | 0.24 | 0.24 | 0.32 | 0.54 | 0.78 | 1.02 | 3.90 |
| Debt / EBITDA | 0.42 | 0.42 | — | 0.01 | 0.51 | 0.71 | 0.82 | 1.00 | 1.31 | 1.16 | 1.72 |
| Net Debt / Equity | — | -0.02 | -0.05 | -0.12 | 0.07 | 0.07 | 0.20 | 0.41 | 0.34 | 0.39 | 2.48 |
| Net Debt / EBITDA | -0.19 | -0.19 | — | -0.44 | 0.16 | 0.22 | 0.49 | 0.76 | 0.57 | 0.45 | 1.09 |
| Debt / FCF | — | -0.41 | — | -0.59 | 0.35 | 0.38 | 0.97 | 1.36 | 0.98 | 0.77 | 1.53 |
| Interest Coverage | 11.76 | 11.76 | -30.37 | 48.77 | 74.37 | 63.54 | 22.54 | 15.20 | 17.60 | 32.22 | 9.26 |
Net cash position: cash ($37M) exceeds total debt ($25M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.63 | 1.63 | 1.46 | 1.40 | 2.14 | 2.14 | 1.77 | 1.69 | 2.05 | 1.79 | 1.35 |
| Quick Ratio | 0.58 | 0.58 | 0.41 | 0.67 | 1.02 | 1.02 | 0.73 | 0.79 | 1.37 | 1.18 | 0.93 |
| Cash Ratio | 0.27 | 0.27 | 0.19 | 0.34 | 0.60 | 0.60 | 0.48 | 0.36 | 0.94 | 0.84 | 0.54 |
| Asset Turnover | — | 1.10 | 1.12 | 1.50 | 1.43 | 1.09 | 1.37 | 1.52 | 1.36 | 1.26 | 1.15 |
| Inventory Turnover | 4.67 | 4.67 | 4.68 | 6.06 | 5.76 | 4.40 | 6.91 | 7.64 | 8.51 | 8.68 | 9.11 |
| Days Sales Outstanding | — | 15.10 | 10.48 | 17.98 | 15.50 | 20.33 | 7.69 | 14.95 | 18.16 | 14.19 | 22.59 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 2.4% | — | 8.6% | 14.2% | 7.1% | 5.7% | 8.1% | 3.2% | 6.1% | 8.3% |
| FCF Yield | 6.3% | 4.6% | — | 10.7% | 9.9% | 6.5% | 4.9% | 7.8% | 5.6% | 5.7% | 13.5% |
| Buyback Yield | 7.9% | 5.8% | 4.1% | 0.6% | 3.1% | 0.0% | 1.3% | 0.1% | 0.0% | 0.1% | 1.8% |
| Total Shareholder Yield | 7.9% | 5.8% | 4.1% | 0.6% | 3.1% | 0.0% | 1.3% | 0.1% | 0.0% | 0.1% | 1.8% |
| Shares Outstanding | — | $20M | $20M | $21M | $21M | $21M | $21M | $21M | $20M | $18M | $18M |
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying MBUU stock.
Malibu Boats, Inc.'s current P/E ratio is 30.5x. The historical average is 18.5x. This places it at the 80th percentile of its historical range.
Malibu Boats, Inc.'s current EV/EBITDA is 7.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.1x.
Malibu Boats, Inc.'s return on equity (ROE) is 2.8%. The historical average is 35.2%.
Based on historical data, Malibu Boats, Inc. is trading at a P/E of 30.5x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Malibu Boats, Inc. has 17.8% gross margin and 2.7% operating margin.
Malibu Boats, Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Acquisition-driven leverage and margin compression
Metrics are mathematically derived from official filings.
Valuation Discount Reflects Cyclical Trough
Malibu's forward P/E of 17.97 and EV/EBITDA of 5.99 represent a significant discount to historical norms, suggesting the market is pricing in a cyclical earnings recovery that has yet to fully materialize in profitability metrics.
The current valuation multiples appear depressed relative to the company's own history, with the forward P/E of 17.97 implying the market expects a substantial earnings rebound. However, the trailing P/E of 35.11 remains elevated due to the recent cyclical trough in profitability, creating a disconnect between current and forward valuation signals. Compared to peers like MasterCraft (P/E 54.26) and Marine Products (P/E 24.79), Malibu trades at a discount that may reflect concerns about the sustainability of its recovery.
Margin Recovery Stalls at Cyclical Midpoint
Despite a 42.7% year-over-year revenue surge in Q4 2026, gross margin of 17.7% remains well below the 20.0% peak seen in Q3 2025, indicating persistent cost pressures that are preventing a full profitability recovery.
The decomposition of profitability reveals that gross margin is the primary constraint, with operating margin of 3.2% in Q4 2026 failing to provide meaningful operating leverage despite strong top-line growth. Net margin of 2.4% suggests that non-operating items are providing a modest tailwind, but the underlying business remains structurally less profitable than historical averages. The volatility in margins from -36.8% operating margin in Q3 2024 to 3.2% in Q4 2026 indicates extreme cyclicality that makes normalized earnings power difficult to assess.
Capital Returns Remain Below Cost of Capital
ROIC of 1.1% in Q4 2026, while improved from the -11.1% trough in Q3 2024, remains well below the company's estimated cost of capital, suggesting the business is still destroying value despite the revenue recovery.
The trajectory from deeply negative ROIC to marginally positive indicates the company has passed the cyclical bottom, but the current return profile suggests capital is being deployed inefficiently. ROE of 1.4% in Q4 2026 is particularly concerning given the recent increase in leverage, as the modest profitability is being spread across a larger equity base from retained earnings. The drivers appear to be margin compression rather than asset efficiency, as asset turnover has only modestly improved from 0.21 to 0.30 over the same period.
Working Capital Cycle Extends Despite Revenue Growth
The cash conversion cycle of 65 days in Q4 2026, while improved from the 93-day peak in Q1 2025, remains elevated and suggests working capital efficiency has not fully recovered with the sales rebound.
Days inventory outstanding of 72 days indicates significant inventory buildup that may be necessary to support the revenue recovery but ties up substantial capital. Days payable outstanding of 20 days suggests limited supplier leverage, while days sales outstanding of 13 days indicates efficient collections from customers. The overall CCC trend from 93 days to 65 days shows improvement, but the current level still represents a meaningful drag on cash generation that warrants monitoring as the cycle progresses.
Strategic Leverage Shift Creates Refinancing Risk
The D/E ratio has surged from near-zero to 0.31 over two years, with interest coverage of 6.08x in Q4 2026 appearing comfortable but masking the risk from the rapid $165M debt accumulation for acquisitions.
The leverage profile has fundamentally changed from a virtually debt-free balance sheet to a moderately leveraged one, with D/EBITDA of 7.35x in Q4 2026 indicating the debt load is substantial relative to current earnings power. Interest coverage of 6.08x appears adequate but is highly volatile, having been negative just two quarters prior, suggesting the debt service capacity is sensitive to the cyclical earnings trajectory. The acquisition-driven nature of this leverage shift creates refinancing risk if the expected earnings recovery does not materialize as projected.
The Misleading Safety of Current Ratio
The current ratio of 1.43 in Q4 2026 appears adequate but obscures the significant inventory dependence and the fact that quick ratio of 0.60 indicates the company cannot cover current liabilities without selling substantial inventory.
For a cyclical manufacturer like Malibu, the current ratio is particularly misleading because it includes inventory that may be difficult to liquidate quickly in a downturn. The quick ratio of 0.60 reveals that without relying on inventory sales, the company cannot meet its short-term obligations, creating vulnerability if demand weakens. Investors should instead focus on the cash conversion cycle and inventory turnover trends, which provide a more accurate picture of liquidity risk in this business model where inventory represents a large portion of current assets.