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MPX

Marine Products Corporation

MPX

Marine Products Corporation • NYSE
$8.47 ▲ 0.71% (+0.06)
Market Cap $296.44 M
52w High $10.09
52w Low $7.49
Dividend Yield 0.56%
P/E 22.29
Volume 13.76K
Outstanding Shares 35.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $53.148M ▼ $8.563M ▲ $2.522M ▼ 4.745% ▼ $0.079 ▼ $4.093M ▼
Q2-2025 $67.698M ▲ $8.098M ▼ $4.162M ▲ 6.148% ▲ $0.12 ▲ $6.074M ▲
Q1-2025 $59.002M ▲ $8.34M ▲ $2.206M ▼ 3.739% ▼ $0.061 ▼ $3.402M ▼
Q4-2024 $47.818M ▼ $5.474M ▼ $4.267M ▲ 8.923% ▲ $0.12 ▲ $4.289M ▼
Q3-2024 $49.85M $5.592M $3.404M 6.828% $0.1 $4.341M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $47.403M ▼ $179.452M ▲ $53.196M ▲ $126.256M ▼
Q2-2025 $50.171M ▼ $173.245M ▼ $46.014M ▼ $127.231M ▲
Q1-2025 $57.103M ▲ $182.883M ▲ $56.482M ▲ $126.401M ▼
Q4-2024 $52.379M ▼ $171.247M ▼ $42.244M ▼ $129.003M ▲
Q3-2024 $53.533M $176.316M $47.525M $128.791M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.65M ▼ $2.577M ▲ $-445K ▼ $-4.9M ▲ $-2.768M ▲ $2.132M ▲
Q2-2025 $4.162M ▲ $-1.604M ▼ $-427K ▼ $-4.901M ▲ $-6.932M ▼ $-2.031M ▼
Q1-2025 $2.206M ▼ $10.769M ▲ $-96K ▲ $-5.949M ▼ $4.724M ▲ $10.673M ▲
Q4-2024 $4.267M ▲ $4.644M ▼ $-910K ▲ $-4.888M ▼ $-1.154M ▲ $3.622M ▲
Q3-2024 $3.404M $5.145M $-1.862M $-4.881M $-1.598M $3.232M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Boats and accessories
Boats and accessories
 $120.00M ▲$60.00M ▼$70.00M ▲$50.00M ▼
Parts
Parts
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue and profit grew steadily from 2020 through 2022 and stayed strong in 2023, but the latest year shows a meaningful step down in sales and earnings. Even with this pullback, the company remains clearly profitable, with operating and net margins still healthy by historical standards. Earnings per share are well above where they were a few years ago, though off the recent peak. This pattern is consistent with a cyclical, discretionary business: the company executes well, but its results still move with broader demand for recreational boats.

Balance Sheet

Balance Sheet The balance sheet is a clear strength. The company carries no debt and has built up shareholders’ equity over time, reflecting accumulated profitability. Cash levels have moved around year to year but are generally higher than in the past, even after a recent dip from last year’s high. Overall, the business looks conservatively financed, with a simple, low‑risk capital structure that gives it flexibility in downturns.

Cash Flow

Cash Flow Cash generation has generally tracked earnings: strong operating cash flow in most years with a softer patch when profitability dipped. Free cash flow is consistently positive outside of that one flat year, and capital spending needs appear modest, which leaves more of the cash produced by the business available for the company to deploy as it chooses. The pattern suggests a cash‑generative model with manageable reinvestment requirements, but still exposed to swings in boat demand.

Competitive Edge

Competitive Edge Marine Products benefits from two well‑known brands, Chaparral and Robalo, that cover both family recreation and sport‑fishing segments. It supports these brands with a large, efficient manufacturing base and a long‑standing dealer network that helps with distribution and service. The company’s reputation for quality, performance, and comfort, combined with a debt‑free balance sheet, forms a meaningful competitive moat. However, the industry is fragmented and cyclical, so even strong brands must continually defend share and manage through demand cycles.

Innovation and R&D

Innovation and R&D Innovation is a core differentiator. The company invests in distinctive hull designs, comfort features, and integrated electronics, such as Chaparral’s extended V‑plane hull, Malibu Surf Gate partnerships, advanced helm displays, and Robalo’s offshore‑oriented hulls with enhanced materials and silicone upholstery. These features are aimed at delivering better ride quality, safety, durability, and user experience rather than competing purely on price. Management appears committed to ongoing model refreshes and incremental technology upgrades, which is important in a style‑ and performance‑driven market.

Summary

Marine Products combines solid profitability, a very clean balance sheet, and healthy free cash flow with strong brands and visible product innovation. Financial performance has improved meaningfully versus several years ago, but the latest year highlights the reality of cyclicality in recreational boating, with softer revenue and earnings. Its strengths lie in brand equity, dealer relationships, manufacturing scale, and a disciplined financial profile. Key watch points are the pace of demand in the boating market, the company’s ability to keep models fresh and differentiated, and how well it manages production and inventory in a changing economic environment.

NEWS

October 30, 2025 · 6:45 AM UTC

Marine Products Corporation Reports Third Quarter 2025 Financial Results And Declares Regular Quarterly Dividend

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October 7, 2025 · 5:08 PM UTC

Marine Products Corporation Announces Date for Third Quarter 2025 Financial Results and Conference Call

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