A Business at a Glance
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MARINE PRODUCTS CORP
MPX
$278M
Mkt Cap
MARINE PRODUCTS CORP (MPX) has a current P/E ratio of 23.5, compared to its historical median P/E of 15.0. The stock is currently considered Expensive based on its historical valuation range.
MARINE PRODUCTS CORP (MPX) has a 5-year average return on invested capital (ROIC) of 34.4%. This indicates strong capital allocation and a potential competitive advantage.
MARINE PRODUCTS CORP (MPX) has a market capitalization of $255M. It is classified as a small-cap stock.
Yes, MARINE PRODUCTS CORP (MPX) pays a dividend with a trailing twelve-month yield of 7.67%. The company also returns capital through share buybacks, with a buyback yield of 0.41%.
Based on historical P/E analysis, MARINE PRODUCTS CORP (MPX) appears expensive. The current P/E of 23.5 is 56% above its historical median of 15.0. The estimated fair value CAGR (P/E method) is -1.8%.
MARINE PRODUCTS CORP (MPX) operates in the Ship & Boat Building & Repairing industry, within the Industrials sector.
MARINE PRODUCTS CORP (MPX) generated $15 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Marine Products manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. Marine Products’ product offerings include Chaparral sterndrive and outboard sport boats and Robalo outboard sport fishing boats. Organization & Overview Marine Products is a Delaware corporation incorporated on August 31, 2000, in connection with a spin-off from RPC, Inc. (NYSE: RES) (“RPC”). Effective February 28, 2001, RPC accomplished the spin-off by contributing 100% of the issued and outstanding stock of Chaparral to Marine Products, a newly formed, wholly owned subsidiary of RPC, and then distributing the common stock of Marine Products to RPC stockholders. Marine Products designs, manufactures and sells recreational fiberglass powerboats in the pleasure boat and sport fishing boat markets. The Company sells its products to a network of 192 domestic and 84 international independent authorized dealers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | - | - | - | - |
| Net Income | 11M | 11M | 17M | 41M | 39M | 28M |
| EPS | $0.32 | $0.32 | $0.50 | $1.21 | $1.18 | $0.85 |
| Free Cash Flow | 15M | 15M | 25M | 47M | 47M | -791K |
| ROIC | 12.3% | 12.8% | 19.7% | 48.9% | 48.3% | 42.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividends/Share | $0.58 | $0.56 | $1.26 | $0.56 | $0.50 | $0.46 |
| Operating Income | 14M | 14M | 18M | 49M | 52M | 36M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | 8.7% | 8.6% | 11.9% | 29.5% | 35.4% | 31.1% |
| Shares Outstanding | 34M | 34M | 33M | 34M | 33M | 33M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 171M | 207M | 241M | 267M | 299M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| Gross Margin | 19.1% | 21.2% | 20.9% | 22.1% | 22.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 743K | 663K | 858K | 960K | 822K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 21M | 23M | 27M | 29M | 31M | 31M | 29M | 32M | 42M | 43M | 27M | 33M | 33M |
| EBIT | 12M | 21M | 23M | 30M | 35M | 34M | 24M | 36M | 52M | 49M | 18M | 14M | 14M |
| Op. Margin | 7.0% | 9.9% | 9.6% | 11.1% | 11.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | 8.6M | 14M | 16M | 19M | 28M | 28M | 19M | 28M | 39M | 41M | 17M | 11M | 11M |
| Net Margin | 5.0% | 6.7% | 6.7% | 7.0% | 9.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | -31K | 12K | 103K | 8K | 0 | 0 | 31K | 0 | 0 | 2.0M | 144K | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 11.7% | 18.7% | 24.8% | 32.5% | 44.5% | 48.1% | 35.1% | 42.2% | 48.3% | 48.9% | 19.7% | 12.8% | 12.3% |
| ROE | 10.5% | 15.9% | 20.8% | 27.7% | 37.9% | 36.2% | 23.5% | 31.1% | 35.4% | 29.5% | 11.9% | 8.6% | 8.7% |
| ROA | 8.4% | 12.9% | 16.3% | 20.3% | 28.2% | 26.8% | 17.0% | 22.6% | 26.6% | 22.8% | 9.2% | 6.8% | 7.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 11M | 16M | 16M | 30M | 23M | 34M | 30M | 457K | 49M | 57M | 30M | 16M | 16M |
| Free Cash Flow | 10M | 12M | 14M | 27M | 21M | 32M | 28M | -791K | 47M | 47M | 25M | 15M | 15M |
| Owner Earnings | 8.2M | 13M | 12M | 25M | 19M | 30M | 25M | -3.6M | 45M | 51M | 23M | 8.1M | 8.1M |
| CapEx | 451K | 3.9M | 1.9M | 2.4M | 2.2M | 2.3M | 2.1M | 1.2M | 2.5M | 10M | 4.6M | 1.5M | 1.5M |
| Maint. CapEx | 712K | 1.0M | 1.4M | 1.5M | 1.8M | 2.1M | 2.0M | 1.8M | 1.9M | 2.4M | 2.8M | 3.1M | 3.1M |
| Growth CapEx | 0 | 2.9M | 558K | 884K | 334K | 244K | 145K | 0 | 595K | 7.8M | 1.8M | 0 | 0 |
| D&A | 712K | 1.0M | 1.4M | 1.5M | 1.8M | 2.1M | 2.0M | 1.8M | 1.9M | 2.4M | 2.8M | 3.1M | 3.1M |
| CapEx/OCF | 4.2% | 24.2% | 12.2% | 8.1% | 9.5% | 6.9% | 7.0% | 273.1% | 5.1% | 17.9% | 15.6% | 9.4% | 9.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 6.1M | 7.6M | 9.2M | 12M | 17M | 20M | 14M | 16M | 17M | 19M | 44M | 20M | 20M |
| Dividend Yield | 3.5% | 4.9% | 4.5% | 3.8% | 4.2% | 5.8% | 4.1% | 4.1% | 6.1% | 5.2% | 14.6% | 7.0% | 7.7% |
| Share Buybacks | 1.8M | 2.3M | 35M | 6.5M | 7.5M | 8.4M | 2.5M | 1.1M | 702K | 910K | 933K | 1.1M | 1.1M |
| Buyback Yield | 1.0% | 1.6% | 10.4% | 2.2% | 1.9% | 2.3% | 0.6% | 0.3% | 0.2% | 0.3% | 0.3% | 0.3% | 0.4% |
| Stock-Based Comp | 1.8M | 2.0M | 2.6M | 2.7M | 2.1M | 2.1M | 3.1M | 2.3M | 2.7M | 3.7M | 4.2M | 5.2M | 5.2M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -14M | -43M | -72M | -52M | -43M | -43M |
| Cash & Equiv. | 4.1M | 8.0M | 2.6M | 7.7M | 8.7M | 20M | 32M | 14M | 43M | 72M | 52M | 44M | 44M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 153K |
| Debt/Equity | 0.24 | 0.23 | 0.35 | 0.38 | 0.34 | 0.36 | 0.41 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 186.6 | 265.6 | N/A | N/A | N/A | N/A |
| Equity | 83M | 90M | 65M | 70M | 75M | 77M | 85M | 99M | 124M | 152M | 129M | 125M | 125M |
| Total Assets | 104M | 111M | 89M | 96M | 101M | 105M | 119M | 133M | 164M | 194M | 171M | 147M | 147M |
| Total Liabilities | 20M | 20M | 23M | 26M | 26M | 28M | 35M | 34M | 39M | 42M | 42M | 22M | 22M |
| Intangibles | 465K | 465K | 465K | 465K | 3.8M | 465K | 465K | 465K | 465K | 465K | 465K | 465K | 465K |
| Retained Earnings | 78M | 84M | 64M | 68M | 74M | 77M | 83M | 98M | 123M | 148M | 126M | 121M | 121M |
| Working Capital | 30M | 39M | 35M | 35M | 46M | 54M | 59M | 75M | 101M | 117M | 91M | 90M | 90M |
| Current Assets | 43M | 53M | 52M | 54M | 65M | 71M | 81M | 93M | 125M | 139M | 110M | 111M | 111M |
| Current Liabilities | 13M | 14M | 17M | 19M | 18M | 17M | 22M | 18M | 24M | 23M | 19M | 21M | 21M |
| Per Share Data | |||||||||||||
| EPS | 0.24 | 0.39 | 0.44 | 0.55 | 0.83 | 0.83 | 0.57 | 0.85 | 1.18 | 1.21 | 0.50 | 0.32 | 0.32 |
| Owner EPS | 0.23 | 0.37 | 0.32 | 0.75 | 0.55 | 0.89 | 0.74 | -0.11 | 1.34 | 1.51 | 0.67 | 0.24 | 0.24 |
| Book Value | 2.32 | 2.54 | 1.78 | 2.05 | 2.19 | 2.32 | 2.53 | 2.94 | 3.72 | 4.51 | 3.85 | 3.68 | 3.68 |
| Cash Flow/Share | 0.30 | 0.45 | 0.43 | 0.87 | 0.66 | 1.02 | 0.89 | 0.01 | 1.47 | 1.69 | 0.88 | 0.48 | 0.41 |
| Dividends/Share | 0.16 | 0.20 | 0.24 | 0.33 | 0.50 | 0.58 | 0.40 | 0.46 | 0.50 | 0.56 | 1.26 | 0.56 | 0.58 |
| Shares Out. | 36.0M | 35.5M | 36.8M | 34.0M | 34.3M | 33.2M | 33.4M | 33.5M | 33.5M | 33.6M | 33.5M | 34.0M | 34.0M |
| Valuation | |||||||||||||
| P/E Ratio | 21.0 | 9.9 | 20.5 | 16.2 | 13.9 | 13.0 | 19.8 | 11.0 | 7.5 | 8.0 | 16.7 | 27.3 | 23.5 |
| P/FCF | 17.8 | 11.3 | 23.9 | 11.1 | 19.2 | 11.4 | 13.6 | N/A | 6.4 | 6.9 | 11.2 | 19.9 | 17.1 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 15.1 |
| Price/Book | 2.2 | 1.5 | 5.1 | 4.3 | 5.3 | 4.8 | 4.6 | 3.3 | 2.4 | 2.2 | 2.3 | 2.5 | 2.0 |
| Price/Sales | 1.0 | 0.8 | 0.8 | 1.1 | 1.4 | 1.2 | 1.4 | 1.3 | 0.8 | 1.0 | 1.3 | 1.2 | N/A |
| FCF Yield | 5.6% | 8.9% | 4.2% | 9.0% | 5.2% | 8.6% | 7.2% | -0.2% | 15.4% | 14.1% | 8.4% | 4.8% | 5.8% |
| Market Cap | 181M | 137M | 333M | 302M | 396M | 367M | 385M | 320M | 304M | 332M | 298M | 310M | 255M |
| Avg. Price | 4.81 | 4.43 | 5.54 | 8.95 | 11.91 | 10.27 | 9.98 | 11.25 | 8.43 | 10.99 | 8.94 | 8.26 | 7.52 |
| Year-End Price | 5.04 | 3.87 | 9.03 | 8.88 | 11.54 | 10.80 | 11.28 | 9.38 | 8.90 | 9.62 | 8.36 | 8.73 | 7.52 |
MARINE PRODUCTS CORP passes 6 of 9 quality checks, suggesting mixed fundamentals.
MARINE PRODUCTS CORP trades at 23.5x trailing earnings, compared to its 15-year median P/E of 15.0x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 17.8x vs a median of 11.4x. The company's 5-year average ROIC is 34.4%. Total shareholder yield (dividends + buybacks) is 8.1%. At current prices, the estimated annualized return to fair value is +2.1%.
MARINE PRODUCTS CORP (MPX) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
MARINE PRODUCTS CORP (MPX) reported earnings per share (EPS) of $0.32 in its most recent fiscal year.
MARINE PRODUCTS CORP (MPX) has a return on equity (ROE) of 8.6%. This indicates moderate shareholder returns.
The Ledger Terminal provides 17 years of financial data for MARINE PRODUCTS CORP (MPX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MARINE PRODUCTS CORP (MPX) has a book value per share of $3.68, based on its most recent annual SEC filing.
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