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MBUU

Malibu Boats, Inc.

MBUU

Malibu Boats, Inc. • NASDAQ
$28.39 ▼ -1.56% (-0.45)
Market Cap $545.84 M
52w High $45.02
52w Low $24.07
Dividend Yield 0%
P/E 29.27
Volume 79.62K
Outstanding Shares 19.23M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $194.733M ▼ $27.06M ▲ $-702K ▼ -0.36% ▼ $-0.036 ▼ $9.875M ▼
Q4-2025 $207.039M ▼ $25.911M ▼ $4.674M ▼ 2.258% ▼ $0.24 ▼ $17.278M ▼
Q3-2025 $228.662M ▲ $28.357M ▼ $12.89M ▲ 5.637% ▲ $0.66 ▲ $27.251M ▲
Q2-2025 $200.28M ▲ $34.242M ▲ $2.363M ▲ 1.18% ▲ $0.12 ▲ $12.721M ▲
Q1-2025 $171.58M $33.82M $-5.048M -2.942% $-0.25 $3.489M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $44.105M ▲ $755.614M ▲ $234.987M ▲ $516.357M ▲
Q4-2025 $37.002M ▼ $734.578M ▼ $214.745M ▼ $515.461M ▲
Q3-2025 $38.713M ▲ $758.766M ▲ $240.83M ▲ $513.008M ▲
Q2-2025 $35.118M ▲ $738.676M ▼ $224.274M ▼ $509.761M ▼
Q1-2025 $27.659M $759.137M $236.766M $517.745M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-710K ▼ $6.535M ▼ $-4.225M ▲ $4.637M ▲ $7.103M ▲ $2.228M ▼
Q4-2025 $4.793M ▼ $21.039M ▲ $-6.799M ▼ $-15.965M ▼ $-1.711M ▼ $14.085M ▲
Q3-2025 $13.173M ▲ $15.462M ▼ $-6.654M ▼ $-5.137M ▲ $3.595M ▼ $8.77M ▼
Q2-2025 $2.421M ▲ $28.407M ▲ $-5.295M ▲ $-15.231M ▼ $7.459M ▲ $22.762M ▲
Q1-2025 $-5.147M $-8.402M $-8.626M $17.513M $714K $-17.028M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Cobalt
Cobalt
 $60.00M ▲$50.00M ▼$50.00M ▲$50.00M ▲
Malibu
Malibu
 $70.00M ▲$100.00M ▲$80.00M ▼$80.00M ▲
Pursuit Boats
Pursuit Boats
 $0 ▲$0 ▲$70.00M ▲$60.00M ▼
Saltwater Fishing
Saltwater Fishing
 $70.00M ▲$70.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Malibu’s earnings profile shows a clear cycle. The business moved from strong growth and high profitability a few years ago to a noticeable slowdown more recently, with sales pulling back and margins shrinking. Operating profit and net income swung from very healthy levels to a loss, and then only a modest recovery, suggesting a tough demand environment and possibly some one‑time charges. Overall, the company has gone from “booming” conditions to a reset phase where it is earning less on each boat and has less cushion in its income statement than it did at the peak.

Balance Sheet

Balance Sheet The balance sheet looks relatively conservative and is a key strength. Assets have been broadly stable, equity has built up over time, and debt has been brought down to low levels, reducing financial risk. Cash on hand is not large but appears adequate given the low leverage. This mix points to a company that used the good years to strengthen its foundation and now has a solid financial base to weather a downturn and fund development without relying heavily on borrowing.

Cash Flow

Cash Flow Despite profit volatility, cash generation has been fairly resilient. The business has consistently produced positive cash from operations, which means the core operations still bring in cash even when accounting profits dip. Free cash flow has been positive in most years, with only a brief setback when investment spending and working capital needs spiked. Capital spending has been meaningful but not excessive, indicating a balance between funding new products and preserving cash. Overall, Malibu looks more like a steady cash generator over a cycle than its recent earnings swings might suggest.

Competitive Edge

Competitive Edge Malibu holds a strong position in performance sport boats, supported by recognizable brands and a deep dealer network. Its vertical integration—building engines, towers, trailers, and key systems in‑house—helps control quality, costs, and product differentiation. The multi‑brand strategy (Malibu, Axis, Cobalt, Pursuit) covers premium, value, luxury runabout, and offshore fishing segments, allowing the company to reach different customer types and price points. The main vulnerabilities are exposure to discretionary consumer spending, interest rates, and competition from other premium boat makers in a relatively niche but crowded market.

Innovation and R&D

Innovation and R&D Innovation is at the core of Malibu’s strategy. Proprietary systems like Surf Gate, Power Wedge, the Integrated Surf Platform, in‑house engines, and the Command Center help keep its boats distinct and justify premium positioning. The company continues to update software, user interfaces, ballast and environmental features, and model lines, and is exploring areas like electrification and more digital tools for customers. Vertical integration accelerates this R&D cycle. The key question is how effectively these innovations translate into sustained pricing power and demand in a softer macro backdrop.

Summary

Malibu Boats looks like a well‑positioned specialist facing a cyclical rough patch. Financially, it has moved from very strong growth and profitability to a period of softer demand and compressed margins, but it still sits on a relatively clean balance sheet and generally solid cash generation. Competitively, its technology, vertical integration, strong brands, and dealer relationships provide a meaningful moat in performance sport and premium boating. The main things to monitor going forward are the pace of demand recovery, how quickly margins can rebuild, dealer inventory and discounting trends, and the market reception to new models and technologies. Overall, the company appears fundamentally sound but operating through a tougher phase of a highly cyclical business.

NEWS

November 13, 2025 · 7:00 AM UTC

Malibu Boats, Inc. Announces Appointment of David Black to Chief Financial Officer

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October 31, 2025 · 8:38 AM UTC

Malibu Boats Wakesetter 23 LSV Named 2025 Wakesurf and Wakeboard Boat of the Year — Six Years Running

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October 30, 2025 · 7:00 AM UTC

Malibu Boats, Inc. Announces First Quarter Fiscal 2026 Results

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October 29, 2025 · 5:59 PM UTC

Malibu Boats, Inc. Brands Brings New Models and Latest Innovations to the Fort Lauderdale International Boat Show

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October 24, 2025 · 7:20 AM UTC

Halper Sadeh LLC Encourages Malibu Boats, Inc. Shareholders to Contact the Firm to Discuss Their Rights

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