Malibu Boats Inc

malibuboatsinc.com

What Do They Do?

Designs, manufactures and sells recreational powerboats for water sports, fishing and general boating to recreational boaters.

How Do They Make Money?

Dealers buy boats and trailers; sales are counted when shipped for most brands and when delivered for Saxdor. Dealers also buy parts and accessories, while other manufacturers pay royalties when products using the company's technology are used or sold.

revenue

Segment	Share	Revenue	How money arrives
Boat and trailer sales Sold outright	98% FY2023: 98%		Sold outright
Part and other sales	2.4% FY2023: 1.7%

Who Are Their Customers?

Independent dealers buy boats and parts for resale to retail boaters through a global network of dealer locations.

Direct customers above 10% of revenue, FY2026

of revenue from one customer

FY2024: 24% from one customer

Do Revenues Turn Into Profits?

Yes. It kept less than a cent of every revenue dollar as net income in FY2026 and turned 5 cents into free cash flow.

Operating income, FY2026

0% of revenue

▼ −86% vs FY2025 ($21.8M, 3%)

Net income, FY2026

0% of revenue

▼ −89% vs FY2025 ($14.9M, 2%)

Free cash flow, FY2026

5% of revenue

▲ +50% vs FY2025 ($28.6M, 4%)

How Are They Changing?

Shrinking. Revenue fell 25% in 4 years, from $1.2B in FY2022 to $914.6M in FY2026, about 7% a year.

Premium adventure dayboats The latest portfolio adds Saxdor premium adventure dayboats to the performance sport, sterndrive and outboard boats described in the older report.

Revenue over time

Boat and trailer sales Part and other sales

$2B$1B$0

FY2022 FY2023 FY2024 FY2025 FY2026

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