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Segment Information
 12 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information

21. SEGMENT INFORMATION:

Reportable Segments

The Company’s reportable segments are defined by management’s reporting structure and operating activities. Our chief operating decision maker (“CODM”) is our Chief Executive Officer. Our CODM reviews income from operations by segment for purposes of making operating decisions, assessing financial performance, and deciding how to allocate resources (including team members, property, and financial or capital resources). The CODM considers forecast-to-actual variances when making decisions about allocating resources to the segments. The CODM does not evaluate segments using asset or liability information, and therefore, such information is not presented. The Company’s reportable segments are the following:

Retail Operations. The Retail Operations segment includes the sale of new and used recreational boats, including pleasure and fishing boats, with a focus on premium brands in each segment. We also sell related marine products, including engines, trailers, parts, and accessories. In addition, we provide repair, maintenance, and slip and storage rentals; we arrange related boat financing, insurance, and extended service contracts; we offer boat and yacht brokerage sales; and we offer yacht charter services. In the British Virgin Islands, we offer the charter of catamarans through MarineMax Vacations. Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies with operations in multiple countries, are also included in this segment. We also maintain a network of strategically positioned luxury marinas situated in yachting and sport fishing destinations around the world through IGY Marinas, which is also included in this segment. The Retail Operations segment includes the majority of all corporate costs.

Product Manufacturing. The Product Manufacturing segment includes activity of Cruisers Yachts and Intrepid Powerboats. Cruisers Yachts, a wholly-owned MarineMax subsidiary, manufacturing sport yacht and yachts, including Aviara luxury dayboats, with sales through our select retail dealership locations and through independent dealers. Cruisers Yachts is recognized as one of the world’s premier manufacturers of premium sport yacht and yachts, producing models from 33’ to 60’ feet. Intrepid Powerboats, also a wholly-owned MarineMax subsidiary, is recognized as a world class producer of customized boats, carefully reflecting the unique desires of each individual owner. Intrepid Powerboats sells through our retail dealership locations and through independent dealers and has received many awards and accolades for its innovations and high-quality craftsmanship that create industry leading products in their categories.

Intersegment revenue represents boats and yachts that were manufactured in our Product Manufacturing segment and were sold to our Retail Operations segment. The Product Manufacturing segment supplies our Retail Operations segment along with various independent dealers. Intersegment adjustments represent eliminations of intersegment income from sales of boats from Product Manufacturing to Retail Operations and additional income recognized when manufactured boats are sold to the customer through the Retail Operations segment.

The following table sets forth revenue, income from operations, and significant expenses for each of the Company’s reportable segments for the fiscal years ended September 30,

 

 

2025

 

 

 

Retail Operations

 

 

Product Manufacturing

 

 

Intersegment Adjustments & Eliminations

 

 

Total

 

 

 

(Amounts in thousands)

 

Revenue

 

$

2,299,555

 

 

$

138,947

 

 

$

(129,214

)

 

$

2,309,288

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

1,567,829

 

 

 

129,046

 

 

 

(137,815

)

 

 

1,559,060

 

Selling, general and administrative expenses

 

 

627,217

 

 

 

19,939

 

 

 

-

 

 

 

647,156

 

Goodwill impairment (1)

 

 

-

 

 

 

69,055

 

 

 

 

 

 

69,055

 

Income (loss) from operations

 

$

104,509

 

 

$

(79,093

)

 

$

8,601

 

 

$

34,017

 

Interest Expense

 

 

 

 

 

 

 

 

 

 

 

71,158

 

(Loss) before income tax provision

 

 

 

 

 

 

 

 

 

 

$

(37,141

)

(1) The Company recognized a non-cash, pre-tax goodwill impairment charge of $69.1 million related to the product manufacturing reporting unit and segment during fiscal 2025.

 

 

 

2024

 

 

 

Retail Operations

 

 

Product Manufacturing

 

 

Intersegment Adjustments & Eliminations

 

 

Total

 

 

 

(Amounts in thousands)

 

Revenue

 

$

2,417,941

 

 

$

154,753

 

 

$

(141,686

)

 

$

2,431,008

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

1,642,936

 

 

 

133,494

 

 

 

(146,618

)

 

 

1,629,812

 

Selling, general and administrative expenses

 

 

652,142

 

 

 

20,828

 

 

 

-

 

 

 

672,970

 

Income from operations

 

$

122,863

 

 

$

431

 

 

$

4,932

 

 

$

128,226

 

Interest Expense

 

 

 

 

 

 

 

 

 

 

 

73,895

 

Income before income tax provision

 

 

 

 

 

 

 

 

 

 

$

54,331

 

 

 

 

2023

 

 

 

Retail Operations

 

 

Product Manufacturing

 

 

Intersegment Adjustments & Eliminations

 

 

Total

 

 

 

(Amounts in thousands)

 

Revenue

 

$

2,294,362

 

 

$

222,289

 

 

$

(121,945

)

 

$

2,394,706

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

1,490,185

 

 

 

176,032

 

 

 

(106,840

)

 

 

1,559,377

 

Selling, general and administrative expenses

 

 

611,690

 

 

 

22,837

 

 

 

-

 

 

 

634,527

 

Income from operations

 

$

192,487

 

 

$

23,420

 

 

$

(15,105

)

 

$

200,802

 

Interest Expense

 

 

 

 

 

 

 

 

 

 

 

53,367

 

Income before income tax provision

 

 

 

 

 

 

 

 

 

 

$

147,435

 

See Note 2 for a description of expenses included in cost of sales and selling, general and administrative expenses.

The following table sets forth depreciation and amortization for each of the Company’s reportable segments for the fiscal years ended September 30,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(Amounts in thousands)

 

Depreciation:

 

 

 

 

 

 

 

 

 

Retail Operations

 

$

32,435

 

 

$

30,952

 

 

$

28,172

 

Product Manufacturing

 

 

6,678

 

 

 

4,748

 

 

 

4,138

 

Depreciation

 

$

39,113

 

 

$

35,700

 

 

$

32,310

 

Amortization:

 

 

 

 

 

 

 

 

 

Retail Operations

 

$

10,207

 

 

$

8,494

 

 

$

7,096

 

Product Manufacturing

 

 

-

 

 

 

293

 

 

 

1,626

 

Amortization

 

$

10,207

 

 

$

8,787

 

 

$

8,722

 

 

The following tables set forth revenue and long-lived assets by geographical location for the Company for the fiscal years ended September 30,

 

 

2025

 

 

2024

 

 

2023

 

 

 

(Amounts in thousands)

 

Revenue:

 

 

 

 

 

 

 

 

 

United States

 

$

2,165,557

 

 

$

2,309,895

 

 

$

2,284,485

 

International

 

 

143,731

 

 

 

121,113

 

 

 

110,221

 

Total

 

$

2,309,288

 

 

$

2,431,008

 

 

$

2,394,706

 

 

 

 

 

2025

 

 

2024

 

 

 

(Amounts in thousands)

 

Long-lived assets, net:

 

 

 

 

 

 

United States

 

$

586,784

 

 

$

563,351

 

International

 

 

103,677

 

 

 

106,014

 

Total

 

$

690,461

 

 

$

669,365

 

 

Long-lived assets include Property and equipment, net and Operating lease right-of-use assets, net.