- Since my last publication, MarineMax is down ~23%, yet the company continues to repurchase stock, and tailwinds remain in the boating industry.
- While I continue to remain optimistic about the company's top-line revenue outlook, inflationary pressures have only gained steam since my last publication.
- Management cited on their Q1-22 earnings call that margins could take a hit if inflation got worse, and that time is here.
- After modeling in slight compression in margins, my DCF calculated valuation of the stock is $58.22, showing the stock is 60% undervalued.
For further details see:
MarineMax: Providing An Update As Inflationary Forces Hinder Valuation