A Business at a Glance
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MALIBU BOATS, INC.
MBUU
$542M
Mkt Cap
$27.70
+1.73%
MALIBU BOATS, INC. (MBUU) has a current P/E ratio of 37.4, compared to its historical median P/E of 13.9. The stock is currently considered Expensive based on its historical valuation range.
MALIBU BOATS, INC. (MBUU) has a 5-year average return on invested capital (ROIC) of 15.3%. This indicates strong capital allocation and a potential competitive advantage.
MALIBU BOATS, INC. (MBUU) has a market capitalization of $531M. It is classified as a small-cap stock.
MALIBU BOATS, INC. (MBUU) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 7.45%.
Based on historical P/E analysis, MALIBU BOATS, INC. (MBUU) appears expensive. The current P/E of 37.4 is 169% above its historical median of 13.9. The estimated fair value CAGR (P/E method) is -11.4%.
MALIBU BOATS, INC. (MBUU) operates in the Ship & Boat Building & Repairing industry, within the Industrials sector.
MALIBU BOATS, INC. (MBUU) reported annual revenue of $808 million in its most recent fiscal year, based on SEC EDGAR filings.
Unless otherwise expressly indicated or the context otherwise requires, in this Annual Report on Form 10-K: •We use the terms “Malibu Boats,” the “Company,” “we,” “us,” “our” or similar references to refer (1) prior to the consummation of our initial public offering, or "IPO" on February 5, 2014, to Malibu Boats Holdings, LLC, or the LLC, and its consolidated subsidiaries and (2) after our IPO, to Malibu Boats, Inc. and its consolidated subsidiaries; •We use the term "Boats, LLC" to refer to the LLC's subsidiary Malibu Boats, LLC; •We refer to the owners of membership interests in the LLC immediately prior to the consummation of the IPO, collectively, as our “pre-IPO owners”; •We refer to owners of membership interests in the LLC (the "LLC Units"), collectively, as our “LLC members”; •References to “fiscal year” refer to the fiscal year of Malibu Boats, which ends on June 30 of each year; •We refer to our Malibu branded boats as "Malibu", our Axis Wake Research branded boats as "Axis",
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 826M | 808M | 829M | 1.4B | 1.2B | 927M |
| Net Income | -905K | 15M | -56M | 105M | 158M | 110M |
| EPS | $-0.05 | $0.76 | $-2.74 | $5.06 | $7.51 | $5.23 |
| Free Cash Flow | 40M | 29M | -20M | 130M | 110M | 101M |
| ROIC | 0.1% | 3.3% | -9.8% | 20.7% | 33.0% | 29.6% |
| Gross Margin | 15.4% | 17.8% | 17.7% | 25.3% | 25.5% | 25.5% |
| Debt/Equity | 0.32 | 0.05 | 0.00 | 0.00 | 0.24 | 0.38 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 585K | 22M | -56M | 145M | 214M | 150M |
| Operating Margin | 0.1% | 2.7% | -6.7% | 10.4% | 17.6% | 16.2% |
| ROE | -0.2% | 2.8% | -9.8% | 18.8% | 36.0% | 35.0% |
| Shares Outstanding | 19M | 20M | 20M | 21M | 21M | 21M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 191M | 229M | 253M | 282M | 497M | 684M | 653M | 927M | 1.2B | 1.4B | 829M | 808M | 826M |
| Gross Margin | 26.6% | 26.4% | 26.4% | 26.6% | 24.2% | 24.3% | 22.9% | 25.5% | 25.5% | 25.3% | 17.7% | 17.8% | 15.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 40M | 20M | 21M | 25M | 31M | 44M | 40M | 62M | 66M | 176M | 76M | 92M | 92M |
| EBIT | -455K | 31M | 36M | 39M | 70M | 98M | 85M | 150M | 214M | 145M | -56M | 22M | 585K |
| Op. Margin | -0.2% | 13.6% | 14.2% | 14.0% | 14.1% | 14.3% | 13.1% | 16.2% | 17.6% | 10.4% | -6.7% | 2.7% | 0.1% |
| Net Income | -4.7M | 15M | 18M | 28M | 28M | 66M | 62M | 110M | 158M | 105M | -56M | 15M | -905K |
| Net Margin | -2.4% | 6.4% | 7.1% | 10.1% | 5.6% | 9.7% | 9.4% | 11.9% | 13.0% | 7.5% | -6.7% | 1.8% | -0.1% |
| Non-Recurring | 0 | 0 | 29K | -4K | 60K | 0 | -61K | -374K | -6K | 0 | 49M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -2.4% | 56.4% | 37.7% | 41.8% | 33.8% | 31.6% | 22.2% | 29.6% | 33.0% | 20.7% | -9.8% | 3.3% | 0.1% |
| ROE | -24.3% | N/A | 283.3% | 90.5% | 30.4% | 39.0% | 26.8% | 35.0% | 36.0% | 18.8% | -9.8% | 2.8% | -0.2% |
| ROA | -5.5% | 7.3% | 8.5% | 12.7% | 9.4% | 16.2% | 13.3% | 18.0% | 19.8% | 11.8% | -6.7% | 2.0% | -0.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 24M | 13M | 36M | 36M | 58M | 82M | 94M | 131M | 165M | 185M | 56M | 57M | 62M |
| Free Cash Flow | 18M | 7.2M | 29M | 27M | 48M | 64M | 53M | 101M | 110M | 130M | -20M | 29M | 40M |
| Owner Earnings | 14M | 6.2M | 28M | 28M | 44M | 63M | 73M | 103M | 132M | 150M | 18M | 12M | -113M |
| CapEx | 5.9M | 5.4M | 6.2M | 9.3M | 10M | 18M | 41M | 31M | 55M | 55M | 76M | 28M | 22M |
| Maint. CapEx | 6.8M | 4.9M | 5.5M | 6.7M | 13M | 16M | 18M | 23M | 26M | 29M | 33M | 39M | 168M |
| Growth CapEx | 0 | 476K | 652K | 2.5M | 0 | 2.0M | 23M | 7.8M | 29M | 26M | 43M | 0 | 0 |
| D&A | 6.8M | 4.9M | 5.5M | 6.7M | 13M | 16M | 18M | 23M | 26M | 29M | 33M | 39M | 168M |
| CapEx/OCF | 24.9% | 42.8% | 17.3% | 25.8% | 17.9% | 22.0% | 43.9% | 23.4% | 33.4% | 29.7% | 136.7% | 49.4% | 35.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 30M | 71M | 4.0M | 0 | 0 | 0 | 14M | 0 | 35M | 7.9M | 29M | 36M | 40M |
| Buyback Yield | N/A | 21.4% | 1.9% | N/A | N/A | N/A | 1.3% | N/A | 3.1% | 0.7% | 4.1% | 5.7% | 7.5% |
| Stock-Based Comp | 2.6M | 1.5M | 1.9M | 1.4M | 2.0M | 2.6M | 3.0M | 5.6M | 6.3M | 5.9M | 4.9M | 5.9M | 5.8M |
| Debt Repayment | 89M | 22M | 6.5M | 72M | 50M | 35M | 135M | 29M | 20M | 339M | 75M | 30M | 30M |
| Balance Sheet | |||||||||||||
| Net Debt | -24M | 67M | 45M | 21M | 47M | 86M | 49M | 102M | 36M | -79M | -27M | -12M | 115M |
| Cash & Equiv. | 12M | 8.4M | 26M | 33M | 62M | 27M | 34M | 41M | 84M | 79M | 27M | 37M | 50M |
| Long-Term Debt | 0 | 71M | 63M | 53M | 108M | 114M | 83M | 139M | 118M | 0 | 0 | 18M | 165M |
| Debt/Equity | 0.00 | -3.12 | 4.63 | 1.13 | 0.81 | 0.56 | 0.33 | 0.38 | 0.24 | 0.00 | 0.00 | 0.05 | 0.32 |
| Interest Coverage | -0.2 | 32.7 | 9.2 | 25.3 | 13.0 | 15.2 | 21.9 | 59.2 | 74.4 | 48.9 | -30.4 | 11.6 | 0.3 |
| Equity | 19M | -27M | 15M | 47M | 134M | 204M | 255M | 373M | 503M | 608M | 530M | 515M | 518M |
| Total Assets | 85M | 200M | 222M | 224M | 366M | 451M | 477M | 743M | 851M | 926M | 740M | 735M | 1.0B |
| Total Liabilities | 57M | 223M | 202M | 171M | 226M | 241M | 216M | 362M | 338M | 310M | 205M | 215M | 485M |
| Intangibles | 12M | 14M | 12M | 9.6M | 94M | 146M | 140M | 235M | 228M | 221M | 175M | 169M | 307M |
| Retained Earnings | -4.7M | -46M | -28M | 151K | 28M | 94M | 154M | 264M | 421M | 526M | 470M | 485M | 479M |
| Working Capital | -8.7M | 6.1M | 17M | 31M | 69M | 52M | 54M | 78M | 159M | 94M | 64M | 85M | 73M |
| Current Assets | 34M | 40M | 65M | 70M | 134M | 128M | 124M | 213M | 298M | 326M | 202M | 220M | 307M |
| Current Liabilities | 43M | 34M | 48M | 39M | 65M | 75M | 70M | 134M | 139M | 232M | 139M | 135M | 234M |
| Per Share Data | |||||||||||||
| EPS | -0.42 | 0.93 | 1.00 | 1.58 | 1.36 | 3.15 | 2.95 | 5.23 | 7.51 | 5.06 | -2.74 | 0.76 | -0.05 |
| Owner EPS | 1.29 | 0.39 | 1.56 | 1.54 | 2.15 | 3.00 | 3.48 | 4.90 | 6.30 | 7.27 | 0.86 | 0.61 | -5.88 |
| Book Value | 1.73 | -1.70 | 0.85 | 2.64 | 6.62 | 9.74 | 12.20 | 17.78 | 23.97 | 29.43 | 25.97 | 26.33 | 27.01 |
| Cash Flow/Share | 2.13 | 0.80 | 1.97 | 2.00 | 2.88 | 3.89 | 4.51 | 6.25 | 7.85 | 8.94 | 2.72 | 2.89 | 8.74 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 11.1M | 15.8M | 18.0M | 17.9M | 20.3M | 21.0M | 20.9M | 21.0M | 21.0M | 20.7M | 20.4M | 19.6M | 19.2M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 22.8 | 11.7 | 16.3 | 31.2 | 12.3 | 16.7 | 13.9 | 7.1 | 11.4 | N/A | 42.4 | -522.3 |
| P/FCF | 12.5 | 46.5 | 7.2 | 17.4 | 17.9 | 12.8 | 19.4 | 15.2 | 10.2 | 9.2 | N/A | 22.1 | 13.3 |
| EV/EBIT | N/A | 12.9 | 7.2 | 12.2 | 13.0 | 9.2 | 12.6 | 10.9 | 5.4 | N/A | N/A | 28.1 | N/A |
| Price/Book | 11.6 | N/A | 13.8 | 9.8 | 6.4 | 4.0 | 4.0 | 4.1 | 2.2 | 2.0 | 1.3 | 1.2 | 1.0 |
| Price/Sales | 1.2 | 1.4 | 1.1 | 1.2 | 1.3 | 1.3 | 1.2 | 1.5 | 1.1 | 0.8 | 1.1 | 0.9 | 0.6 |
| FCF Yield | 8.0% | 2.1% | 13.9% | 5.8% | 5.6% | 7.8% | 5.2% | 6.6% | 9.8% | 10.9% | -2.9% | 4.5% | 7.5% |
| Market Cap | 223M | 334M | 212M | 462M | 861M | 815M | 1.0B | 1.5B | 1.1B | 1.2B | 715M | 631M | 531M |
| Avg. Price | 20.35 | 20.05 | 15.64 | 18.42 | 32.56 | 42.37 | 36.50 | 66.85 | 66.29 | 56.75 | 46.12 | 35.58 | 27.70 |
| Year-End Price | 20.03 | 21.21 | 11.73 | 25.75 | 42.40 | 38.85 | 49.16 | 72.70 | 53.33 | 57.91 | 35.04 | 32.22 | 27.70 |
MALIBU BOATS, INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
MALIBU BOATS, INC. trades at 37.4x trailing earnings, compared to its 15-year median P/E of 13.9x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 15.5x vs a median of 15.2x. The company's 5-year average ROIC is 15.3% with a gross margin of 22.4%. Total shareholder yield (buybacks) is 7.5%. At current prices, the estimated annualized return to fair value is -8.7%.
MALIBU BOATS, INC. (MBUU) has a net profit margin of 1.8%. This is a modest margin.
MALIBU BOATS, INC. (MBUU) generated $29 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
MALIBU BOATS, INC. (MBUU) has a debt-to-equity ratio of 0.05. This indicates a conservatively financed balance sheet.
MALIBU BOATS, INC. (MBUU) reported earnings per share (EPS) of $0.76 in its most recent fiscal year.
MALIBU BOATS, INC. (MBUU) has a return on equity (ROE) of 2.8%. This indicates moderate shareholder returns.
MALIBU BOATS, INC. (MBUU) has a 5-year average gross margin of 22.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 13 years of financial data for MALIBU BOATS, INC. (MBUU), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MALIBU BOATS, INC. (MBUU) has a book value per share of $26.33, based on its most recent annual SEC filing.