Recent News
On October 29, 2025 the company highlighted new model launches from its Pursuit, Cobalt and Maverick brands at the Fort Lauderdale International Boat Show. On November 13, 2025 Malibu appointed David S. Black as Chief Financial Officer and reaffirmed its fiscal 2026 guidance for net sales flat to down mid-single digits and Adjusted EBITDA margin of 8–9%. On December 19, 2025 the board expanded the authorized share repurchase program from $50 million to $70 million. The company also announced an earnings release date and conference call for its first fiscal quarter of 2026 during October.
Technical Analysis
ADX sits at 19.17, indicating no strong market trend; the absence of trend strength increases the probability that price action stays range-bound until momentum clarifies. That valuation backdrop (WMDST: over-valued) means technical signals should weigh more heavily for near-term price bias.
Directional indicators show DI+ at 23.34 with a peak-and-reversal, which by rules converts to a bearish directional signal; DI- at 15.85 decreasing implies a bullish directional shift. The net read: directional pressure recently favored buyers but the DI+ peak-and-reversal signals that bullish directional strength waned and caution increases for continued upside.
MACD reads 0.22 with a signal line at 0.18; the indicator currently sits above its signal line, yet the MACD trend shows a peak-and-reversal, signaling waning bullish momentum despite the marginal crossover. That combination suggests any short-lived strength may struggle to sustain without renewed buying intensity.
MRO stands at -11.56, placing price below WMDST’s target and implying potential upside pressure as price tends to move toward target levels when MRO is negative. Given the MACD peak-and-reversal, expect that any reversion has to overcome deteriorating momentum to make a sustained advance.
RSI sits at 48.63 and shows an increasing trend, which indicates improving relative strength from an otherwise neutral posture; RSI below 50 but rising supports the idea of range-bound upside attempts rather than impulsive rallies.
Price trades at $28.95, slightly below the 20-day average ($29.31) and well under the 200-day average ($31.08). The 12-day EMA and its peak-and-reversal behavior reinforce short-term weakness. Bollinger bands place the 1σ lower bound at $28.93, so the close sits just above the lower band, consistent with short-term mean-reversion potential. Ichimoku components place the Tenkan at $29.79 and the Senkou cloud near $29.27–$29.57, so the cloud forms nearby resistance that a rally must clear to regain meaningful upside momentum. SuperTrend support lies near $27.43, a proximate technical floor for traders monitoring intra-week swings.
Fundamental Analysis
Revenue totaled $194,733,000 with gross profit of $27,931,000, implying a gross margin of 14.34%. Gross margin sits below the industry peer mean of 18.92% and the industry peer median of 17.99%, indicating narrower product-level profitability versus peers. Total revenue shows year-over-year contraction indicated by revenue growth at -5.94% and revenue growth YoY of -173.31% as provided, reflecting pronounced top-line pressure in the most recently reported periods.
Operating margin reads -0.43% and EBIT margin equals 0.01%; EBIT margin registers below the industry peer mean (4.73%) and below the industry peer median (6.59%), reflecting margin compression. QoQ and YoY margin deltas show steep declines: EBIT margin QoQ -99.65% and YoY -100.37%, underlining acute short-term deterioration in operating profitability.
Net income sits at -$702,000 while EPS actual measured $0.15 versus an estimate of $0.10, producing an EPS surprise ratio of 50%. The trailing PE equals 217.38 while forward PE equals 35.28; the gap between trailing and forward multiples reflects the low trailing earnings base and expectations for modest recovery in per-share earnings next year (forward EPS $0.50425).
Cash metrics show $44,105,000 in cash and short-term investments and operating cash flow of $6,535,000. Free cash flow came in at $2,228,000 with a free cash flow yield of 0.36%, which sits above the industry peer mean free cash flow yield of 0.05%, indicating relatively better cash conversion versus the peer average despite low absolute free cash.
Balance-sheet leverage remains light: total debt $25,432,000, debt-to-assets 3.37% (well below the industry peer mean of 14.27%), and debt-to-EBITDA approx. 2.58x. Liquidity metrics show a current ratio of 1.63 and a quick ratio of 0.68; the current ratio lags slightly behind the industry peer mean of 1.94 while the quick ratio underperforms the industry peer mean of 1.57, signaling less cushion against short-term funding stress relative to peers.
Working-capital dynamics display a cash conversion cycle near 72 days, materially longer than the industry peer mean of ~19 days, indicating inventory and receivables sit on the balance sheet longer than peers and creating working-capital drag on cash flow. Asset turnover of 0.261 exceeds the industry peer mean of 0.205, showing more efficient revenue generation from assets, but that efficiency does not offset the margin compression and elevated working-capital days.
Valuation: WMDST values the stock as over-valued. Key inputs driving that view include a very high trailing PE (217.38), an elevated enterprise multiple (61.59), margin deterioration QoQ and YoY, and a modest free cash flow yield of 0.36% despite a relatively clean balance sheet. Management’s expanded buyback authorizes return of capital, which reduces outstanding float but does not, by itself, change the WMDST valuation conclusion.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-30 |
| NEXT REPORT DATE: | 2026-01-29 |
| CASH FLOW | Begin Period Cash Flow | $ 37.0 M |
| Operating Cash Flow | $ 6.5 M | |
| Capital Expenditures | $ -4.31 M | |
| Change In Working Capital | $ -4.37 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 7.1 M | |
| End Period Cash Flow | $ 44.1 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 194.7 M | |
| Forward Revenue | $ -672.34 M | |
| COSTS | ||
| Cost Of Revenue | $ 166.8 M | |
| Depreciation | $ 8.1 M | |
| Depreciation and Amortization | $ 9.9 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 195.6 M | |
| PROFITABILITY | ||
| Gross Profit | $ 27.9 M | |
| EBITDA | $ 9.9 M | |
| EBIT | $ 24.0 K | |
| Operating Income | $ -842.00 K | |
| Interest Income | — | |
| Interest Expense | $ 423.0 K | |
| Net Interest Income | $ -423.00 K | |
| Income Before Tax | $ -399.00 K | |
| Tax Provision | $ 311.0 K | |
| Tax Rate | 21.0 % | |
| Net Income | $ -702.00 K | |
| Net Income From Continuing Operations | $ -710.00 K | |
| EARNINGS | ||
| EPS Estimate | $ 0.10 | |
| EPS Actual | $ 0.15 | |
| EPS Difference | $ 0.05 | |
| EPS Surprise | 50.0 % | |
| Forward EPS | $ 0.50 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 755.6 M | |
| Intangible Assets | $ 218.3 M | |
| Net Tangible Assets | $ 298.1 M | |
| Total Current Assets | $ 247.9 M | |
| Cash and Short-Term Investments | $ 44.1 M | |
| Cash | $ 44.1 M | |
| Net Receivables | $ 34.5 M | |
| Inventory | $ 145.0 M | |
| Long-Term Investments | $ 6.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 39.3 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 152.0 M | |
| Net Debt | — | |
| Total Debt | $ 25.4 M | |
| Total Liabilities | $ 235.0 M | |
| EQUITY | ||
| Total Equity | $ 516.4 M | |
| Retained Earnings | $ 484.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 26.86 | |
| Shares Outstanding | 19.227 M | |
| Revenue Per-Share | $ 10.13 | |
| VALUATION | Market Capitalization | $ 626.9 M |
| Enterprise Value | $ 608.2 M | |
| Enterprise Multiple | 61.594 | |
| Enterprise Multiple QoQ | 66.668 % | |
| Enterprise Multiple YoY | -71.269 % | |
| Enterprise Multiple IPRWA | high: 120.84 MBUU: 61.594 median: 45.873 mean: 27.278 low: -145.554 |
|
| EV/R | 3.123 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.463 | |
| Asset To Liability | 3.216 | |
| Debt To Capital | 0.047 | |
| Debt To Assets | 0.034 | |
| Debt To Assets QoQ | 21.166 % | |
| Debt To Assets YoY | 1115.162 % | |
| Debt To Assets IPRWA | high: 0.637 mean: 0.143 median: 0.103 MBUU: 0.034 low: 0.002 |
|
| Debt To Equity | 0.049 | |
| Debt To Equity QoQ | 24.4 % | |
| Debt To Equity YoY | 1113.054 % | |
| Debt To Equity IPRWA | high: 7.532 mean: 0.433 median: 0.172 MBUU: 0.049 low: -0.581 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.214 | |
| Price To Book QoQ | -4.472 % | |
| Price To Book YoY | -18.737 % | |
| Price To Book IPRWA | high: 16.24 median: 16.24 mean: 13.353 MBUU: 1.214 low: -6.474 |
|
| Price To Earnings (P/E) | 217.378 | |
| Price To Earnings QoQ | 52.205 % | |
| Price To Earnings YoY | -55.301 % | |
| Price To Earnings IPRWA | MBUU: 217.378 high: 208.012 mean: 37.003 median: -5.616 low: -140.479 |
|
| PE/G Ratio | -3.381 | |
| Price To Sales (P/S) | 3.219 | |
| Price To Sales QoQ | 1.741 % | |
| Price To Sales YoY | -28.591 % | |
| Price To Sales IPRWA | high: 46.227 median: 46.227 mean: 37.976 MBUU: 3.219 low: 0.0 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 35.278 | |
| Forward PE/G | -0.549 | |
| Forward P/S | -0.495 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 16.768 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.261 | |
| Asset Turnover Ratio QoQ | -5.745 % | |
| Asset Turnover Ratio YoY | 14.147 % | |
| Asset Turnover Ratio IPRWA | high: 0.522 MBUU: 0.261 median: 0.214 mean: 0.205 low: 0.011 |
|
| Receivables Turnover | 6.764 | |
| Receivables Turnover Ratio QoQ | 6.871 % | |
| Receivables Turnover Ratio YoY | 14.146 % | |
| Receivables Turnover Ratio IPRWA | high: 24.217 MBUU: 6.764 median: 6.579 mean: 6.243 low: 0.674 |
|
| Inventory Turnover | 1.162 | |
| Inventory Turnover Ratio QoQ | -3.439 % | |
| Inventory Turnover Ratio YoY | 18.467 % | |
| Inventory Turnover Ratio IPRWA | high: 2.738 median: 1.717 mean: 1.714 MBUU: 1.162 low: 0.18 |
|
| Days Sales Outstanding (DSO) | 13.49 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 71.999 | |
| Cash Conversion Cycle Days QoQ | 2.759 % | |
| Cash Conversion Cycle Days YoY | -20.716 % | |
| Cash Conversion Cycle Days IPRWA | high: 361.737 MBUU: 71.999 mean: 19.353 median: 6.844 low: -151.181 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.031 | |
| CapEx To Revenue | -0.022 | |
| CapEx To Depreciation | -0.529 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 539.4 M | |
| Net Invested Capital | $ 539.4 M | |
| Invested Capital | $ 539.4 M | |
| Net Tangible Assets | $ 298.1 M | |
| Net Working Capital | $ 95.9 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.29 | |
| Current Ratio | 1.631 | |
| Current Ratio QoQ | -0.167 % | |
| Current Ratio YoY | 5.071 % | |
| Current Ratio IPRWA | high: 4.126 mean: 1.938 median: 1.923 MBUU: 1.631 low: 0.038 |
|
| Quick Ratio | 0.677 | |
| Quick Ratio QoQ | 17.206 % | |
| Quick Ratio YoY | 29.332 % | |
| Quick Ratio IPRWA | high: 3.115 median: 1.671 mean: 1.573 MBUU: 0.677 low: 0.288 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 2.575 | |
| Cost Of Debt | 1.458 % | |
| Interest Coverage Ratio | 0.057 | |
| Interest Coverage Ratio QoQ | -99.702 % | |
| Interest Coverage Ratio YoY | -100.401 % | |
| Interest Coverage Ratio IPRWA | high: 61.154 median: 26.776 mean: 23.168 MBUU: 0.057 low: -55.727 |
|
| Operating Cash Flow Ratio | 0.063 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 16.67 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.864 % | |
| Revenue Growth | -5.944 % | |
| Revenue Growth QoQ | -37.14 % | |
| Revenue Growth YoY | -173.31 % | |
| Revenue Growth IPRWA | high: 34.898 % median: 24.889 % mean: 19.562 % MBUU: -5.944 % low: -28.667 % |
|
| Earnings Growth | -64.286 % | |
| Earnings Growth QoQ | -3.571 % | |
| Earnings Growth YoY | -46.656 % | |
| Earnings Growth IPRWA | high: 95.745 % median: 25.0 % mean: 14.407 % MBUU: -64.286 % low: -160.194 % |
|
| MARGINS | ||
| Gross Margin | 14.343 % | |
| Gross Margin QoQ | -9.296 % | |
| Gross Margin YoY | -12.761 % | |
| Gross Margin IPRWA | high: 61.142 % mean: 18.916 % median: 17.989 % MBUU: 14.343 % low: -56.174 % |
|
| EBIT Margin | 0.012 % | |
| EBIT Margin QoQ | -99.654 % | |
| EBIT Margin YoY | -100.368 % | |
| EBIT Margin IPRWA | high: 37.423 % median: 6.591 % mean: 4.725 % MBUU: 0.012 % low: -329.977 % |
|
| Return On Sales (ROS) | -0.432 % | |
| Return On Sales QoQ | -113.099 % | |
| Return On Sales YoY | -86.765 % | |
| Return On Sales IPRWA | high: 35.411 % median: 5.475 % mean: 5.439 % MBUU: -0.432 % low: -150.403 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 2.2 M | |
| Free Cash Flow Yield | 0.355 % | |
| Free Cash Flow Yield QoQ | -83.488 % | |
| Free Cash Flow Yield YoY | -116.129 % | |
| Free Cash Flow Yield IPRWA | high: 11.454 % MBUU: 0.355 % median: 0.307 % mean: 0.051 % low: -16.591 % |
|
| Free Cash Growth | -84.182 % | |
| Free Cash Growth QoQ | -238.905 % | |
| Free Cash Growth YoY | -82.462 % | |
| Free Cash Growth IPRWA | high: 143.579 % median: 24.781 % mean: -22.204 % MBUU: -84.182 % low: -201.069 % |
|
| Free Cash To Net Income | -3.174 | |
| Cash Flow Margin | 4.934 % | |
| Cash Flow To Earnings | -13.687 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -0.094 % | |
| Return On Assets QoQ | -115.016 % | |
| Return On Assets YoY | -86.053 % | |
| Return On Assets IPRWA | high: 3.986 % median: 1.047 % mean: 0.784 % MBUU: -0.094 % low: -22.607 % |
|
| Return On Capital Employed (ROCE) | 0.0 % | |
| Return On Equity (ROE) | -0.001 | |
| Return On Equity QoQ | -114.994 % | |
| Return On Equity YoY | -86.051 % | |
| Return On Equity IPRWA | high: 0.488 median: 0.017 mean: 0.016 MBUU: -0.001 low: -0.543 |
|
| DuPont ROE | -0.136 % | |
| Return On Invested Capital (ROIC) | 0.0 % | |
| Return On Invested Capital QoQ | -100.0 % | |
| Return On Invested Capital YoY | -100.0 % | |
| Return On Invested Capital IPRWA | high: 20.18 % median: 1.653 % mean: 1.418 % MBUU: 0.0 % low: -24.047 % |
|