MALIBU BOATS, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MALIBU BOATS, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	282	497	684	653	927	1,215	1,388	829	808	915
Cost of revenue	207	377	518	504	690	905	1,037	682	663	768
Gross profit	75	120	166	149	236	310	351	147	144	147
Selling and marketing	8.62	13.7	17.9	17.9	17.5	22.9	24	22.8	23.1	27.5
General and administrative	24.8	31.4	44.3	39.9	61.9	66.4	176	76.3	92.5	105
Operating income	39.4	70.1	98.1	85.3	150	214	145	-55.9	21.8	3.1
Interest expense	1.56	5.39	6.46	3.89	2.53	2.88	2.96	1.84	1.88	3.56
Other non-operating income	9.23	19.3	-6.32	-1.58	-1.51	-3.86	-3.29	-1.84	-1.5	-0.65
Pre-tax income	48.7	89.4	91.8	83.7	148	210	141	-57.8	20.3	2.45
Income tax	17.6	58.4	22.1	19.1	34	46.5	33.6	-1.34	5.02	0.74
Net income to minority interests	2.72	3.36	3.64	3.09	4.44	5.8	3.4	-0.53	0.36	0.05
Net income	28.4	27.6	66.1	61.6	110	158	105	-55.9	14.9	1.65
EBITDA	46.2	82.9	114	104	173	240	174	-23	53.6	36.2
EPS, basic	1.59	1.37	3.17	2.98	5.29	7.60	5.10	-2.74	0.76	0.09
EPS, diluted	1.58	1.36	3.15	2.95	5.23	7.51	5.06	-2.74	0.76	0.09
Shares, basic (weighted)	17.8	20.2	20.8	20.7	20.8	20.7	20.5	20.4	19.7	19.3
Shares, diluted (weighted)	18	20.3	21	20.9	21	21	20.6	20.4	19.7	19.3

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	32.8	61.6	27.4	33.8	41.5	83.7	78.9	26.9	37	74.4
Receivables	9.85	24.6	28	13.8	49.8	51.6	68.4	23.1	23	33.4
Inventory	23.8	44.3	67.8	72.9	117	157	171	146	142	180
Other current assets	2.47	3.3	4.53	3.95	4.78	6.16	7.83	6.47	14.6	17.6
Total current assets	70.1	134	128	124	213	298	326	202	220	309
Property, plant and equipment	24.1	40.8	65.8	94.3	133	171	205	245	236	250
Lease right-of-use assets				14.3	12.6	10.7	8.81	6.88	6.55	11.7
Goodwill	12.7	32.2	51.4	51.3	101	101	101	51.4	51.3	78.7
Intangible assets	9.6	94.2	146	140	235	228	221	175	169	296
Other non-current assets	0.08	0.45	0.04	14.5	12.7	10.7	10.2	7.93	7.27	12.9
Total assets	224	366	451	477	743	851	926	740	735	996
Accounts payable	12.7	24.3	21.2	15.8	46	44.4	40.4	19.2	24.4	46.8
Accrued liabilities	21.6	35.7	49.1	50.5	77.2	87.7	187	119	110	168
Deferred revenue				1.06	3.45	4.85	4.05	4.27	3.51	49.4
Short-term debt	0	0	0	0	4.25	1.56	0	0	0	0
Total current liabilities	39.2	65.4	75.3	70.2	134	139	232	139	135	215
Long-term debt	53.4	108	114	82.8	139	118	0	0	18	165
Lease liabilities				14	12.2	10.1	7.84	5.76	4.92	6.85
Other non-current liabilities	0.33	0.57	1.69	16.7	15.9	11.9	9.93	8.05	7.3	33.4
Total liabilities	171	226	241	216	362	338	310	205	215	468
Total debt	53.4	108	114	82.8	143	120	0	0	18	165
Paid-in capital	48.3	108	113	104	111	85.3	86.3	64.2	35.3	48.6
Retained earnings	0.15	27.8	93.9	154	264	421	526	470	485	486
Other comprehensive income						-3.51	-4.34	-4.2	-4.65	-10.6
Shareholders' equity	47.3	134	204	255	373	503	608	530	515	524
Minority interests	4.94	5.5	6.12	6.95	7.73	10.4	7.87	4.71	4.37	3.98
Total equity	52.2	140	210	262	381	514	616	535	520	528
Total liabilities and equity	224	366	451	477	743	851	926	740	735	996
Shares outstanding							0

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	31.1	31	69.7	64.7	114	163	108	-56.4	15.2	1.71
Depreciation and amortization	6.75	12.9	16	18.4	22.9	26.3	28.7	33	31.8	33.1
Stock-based compensation	1.4	1.97	2.61	3.04	5.58	6.34	5.89	4.94	5.92	5.6
Deferred income tax	9.58	45.8	6.76	8.66	6.94	4.68	-16.3	-4.47	3.55	-0.09
Change in receivables	4.87	-12.2	-3.04	14.2	-32.9	-1.78	-16.8	45.3	0.11	-8.22
Change in inventory	-3.3	-6.34	-15.4	-5.26	-35.6	-38.1	-14.4	25.7	3.37	20.7
Change in payables	-5.02	4.61	-2.79	-5.81	24.5	-0.29	-5.15	-20.6	6.56	-4.54
Cash from operations	35.9	58.5	81.5	94.1	131	165	185	55.6	56.5	67.5
Capital expenditures	-9.26	-10.4	-17.9	-41.3	-30.7	-55.1	-54.8	-76	-27.9	-24.7
Acquisitions	0	-126	-100	0	-150	-6.57	0	0	0	-118
Cash from investing	-9.25	-136	-118	-40.4	-181	-61.6	-54.6	-75.8	-27.4	-143
Debt issued	55	105	0
Debt repaid	-72	-50	-35
Stock issued	0	0	0.75	0.38	0.38	3.29	1.32	0	0.23	0
Share buybacks	0	0	0	-13.8	0	-34.6	-7.87	-29.3	-36	-33.9
Cash from financing	-19.7	106	2.38	-47.3	57.3	-60.4	-135	-31.7	-18.8	112
Exchange rate effect	0.01	0	-0.1	-0.03	0.13	-0.58	-0.33	-0.01	-0.26	0.84
Net change in cash	6.9	28.8	-34.2	6.4	7.69	42.3	-4.81	-52	10.1	37.4
Free cash flow	26.6	48	63.6	52.9	101	110	130	-20.4	28.6	42.8
Interest paid	2.3	4.35	6.01	3.81	2.02	2.29	3.06	3.05	1.95	3.02
Income taxes paid	7.18	9.89	14.2	10.5	23.5	42.1	50.5	2.13	-0.66	0.91

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $24.09 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	16.0%	Gross profit / revenue.
Operating margin	0.3%	Operating income / revenue.
EBITDA margin	4.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	0.3%	Pre-tax income / revenue.
Net margin	0.2%	Net income / revenue.
FCF margin	4.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	7.4%	Cash from operations / revenue.
Effective tax rate	30.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	0.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.2%	Net income / average total assets.
Return on invested capital (ROIC)	0.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.7%	Capital expenditures / revenue.
D&A / revenue	3.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	13.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-13.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-0.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	1.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-25.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-9.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-85.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-72.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-54.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-32.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-40.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-26.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-88.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-74.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-56.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-88.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-73.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-55.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	19.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-28.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-12.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	49.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-30.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-15.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-4.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	7.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	35.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.43x	Current assets / current liabilities.
Quick ratio	0.50x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.35x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.31x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	16.6%	Total debt / total assets.
Liabilities / assets	47.0%	Total liabilities / total assets.
Net debt	$90.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.50x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	0.87x	Operating income / interest expense.
Working capital	$93.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	37.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	$149.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.06x	Revenue / average total assets.
Fixed asset turnover	3.77x	Revenue / average property, plant and equipment.
Inventory turnover	4.77x	Cost of revenue / average inventory.
Days inventory	77 days	365 x average inventory / cost of revenue.
Receivables turnover	32.4x	Revenue / average receivables.
Days sales outstanding	11 days	365 x average receivables / revenue.
Days payables	17 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	71 days	Days inventory + days sales outstanding - days payables.
FCF conversion	2,592.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	36.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.09	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$0.09	Net income per basic share, as reported (split-adjusted).
Revenue per share	$47.28	Revenue / diluted weighted shares.
FCF per share	$2.21	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.49	Cash from operations / diluted weighted shares.
Book value per share	$27.11	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.74	Tangible book value / shares outstanding.
Cash per share	$3.85	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	79.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$473.1M	Share price x shares outstanding.
Enterprise value	$563.6M	Market cap + total debt - cash - short-term investments.
P/E	286x	Market cap / net income. Only when net income is positive.
P/S	0.52x	Market cap / revenue.
P/B	0.90x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.16x	Market cap / tangible book value, when positive.
P/FCF	11.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.01x	Market cap / cash from operations, when positive.
EV/Sales	0.62x	Enterprise value / revenue.
EV/EBIT	182x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	13.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	9.1%	Free cash flow / market cap.
Earnings yield	0.3%	Net income / market cap (the inverse of P/E).
Shareholder yield	7.2%	(Dividends paid + share buybacks) / market cap.

What was MALIBU BOATS, INC.'s revenue in fiscal 2026?

MALIBU BOATS, INC. reported revenue of $914.6M for fiscal 2026, 13.3% higher than the year before.

Was MALIBU BOATS, INC. profitable in fiscal 2026?

Yes. Net income was $1.7M, a net margin of 0.2%.

How much free cash flow did MALIBU BOATS, INC. generate in fiscal 2026?

Cash from operations of $67.5M minus capital expenditures of $24.7M left free cash flow of $42.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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