Latest Ratios: P/E Ratio 24.8x · EV/EBITDA 13.8x · ROE 9.0%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $280M | $306M | $310M | $383M | $394M | $416M | $493M | $490M | $584M | $444M | $525M |
| Enterprise Value | $237M | $263M | $258M | $311M | $351M | $402M | $462M | $471M | $575M | $436M | $522M |
| P/E Ratio → | 24.79 | 26.55 | 18.34 | 9.42 | 9.97 | 14.71 | 25.96 | 17.78 | 20.37 | 23.16 | 31.52 |
| P/S Ratio | 1.15 | 1.25 | 1.31 | 1.00 | 1.03 | 1.40 | 2.06 | 1.68 | 1.96 | 1.66 | 2.18 |
| P/B Ratio | 2.29 | 2.45 | 2.40 | 2.53 | 3.16 | 4.23 | 5.84 | 6.35 | 7.76 | 6.38 | 8.02 |
| P/FCF | 18.77 | 20.52 | 12.44 | 8.21 | 8.40 | — | 17.76 | 15.53 | 28.32 | 16.30 | 37.78 |
| P/OCF | 17.01 | 18.60 | 10.50 | 6.74 | 7.98 | 911.16 | 16.51 | 14.46 | 25.64 | 14.98 | 33.16 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.08 | 1.09 | 0.81 | 0.92 | 1.35 | 1.93 | 1.61 | 1.93 | 1.63 | 2.16 |
| EV / EBITDA | 13.78 | 15.31 | 12.24 | 6.03 | 6.53 | 10.53 | 17.55 | 13.00 | 15.46 | 13.94 | 21.38 |
| EV / EBIT | 16.86 | 16.67 | 14.22 | 6.60 | 6.77 | 11.06 | 18.96 | 13.79 | 16.25 | 14.66 | 22.66 |
| EV / FCF | — | 17.61 | 10.34 | 6.67 | 7.48 | — | 16.63 | 14.91 | 27.89 | 16.02 | 37.59 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.1% | 19.1% | 19.2% | 23.6% | 24.6% | 22.9% | 22.4% | 22.4% | 22.2% | 22.1% | 20.9% |
| Operating Margin | 5.7% | 5.7% | 7.7% | 12.8% | 13.6% | 12.2% | 10.2% | 11.7% | 11.9% | 11.1% | 9.6% |
| Net Profit Margin | 4.7% | 4.7% | 7.5% | 10.9% | 10.6% | 9.7% | 8.1% | 9.7% | 9.5% | 7.2% | 6.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.0% | 9.0% | 12.7% | 30.2% | 36.2% | 31.7% | 24.0% | 37.1% | 39.3% | 28.6% | 21.5% |
| ROA | 7.1% | 7.1% | 9.7% | 23.2% | 27.2% | 23.0% | 17.3% | 27.5% | 29.0% | 20.9% | 16.8% |
| ROIC | 13.3% | 13.3% | 17.5% | 45.7% | 46.8% | 39.7% | 33.0% | 41.3% | 41.3% | 35.8% | 23.8% |
| ROCE | 10.1% | 10.1% | 11.2% | 31.4% | 40.6% | 34.2% | 26.3% | 40.1% | 44.4% | 40.3% | 27.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
| Debt / EBITDA | — | — | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
| Net Debt / Equity | — | -0.35 | -0.41 | -0.47 | -0.35 | -0.14 | -0.37 | -0.25 | -0.12 | -0.11 | -0.04 |
| Net Debt / EBITDA | -2.53 | -2.53 | -2.49 | -1.39 | -0.80 | -0.37 | -1.20 | -0.54 | -0.24 | -0.25 | -0.11 |
| Debt / FCF | — | -2.92 | -2.10 | -1.54 | -0.92 | — | -1.13 | -0.62 | -0.42 | -0.28 | -0.19 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($44M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.37 | 5.37 | 5.81 | 6.17 | 5.30 | 5.15 | 3.72 | 4.16 | 3.56 | 2.80 | 3.00 |
| Quick Ratio | 2.71 | 2.71 | 3.17 | 3.44 | 2.20 | 1.10 | 1.76 | 1.72 | 0.98 | 0.84 | 0.56 |
| Cash Ratio | 2.11 | 2.11 | 2.77 | 3.19 | 1.83 | 0.78 | 1.46 | 1.16 | 0.64 | 0.53 | 0.39 |
| Asset Turnover | — | 1.66 | 1.38 | 1.96 | 2.33 | 2.24 | 2.01 | 2.79 | 2.96 | 2.79 | 2.73 |
| Inventory Turnover | 3.61 | 3.61 | 3.82 | 4.76 | 3.93 | 3.14 | 4.40 | 5.46 | 4.97 | 5.48 | 4.49 |
| Days Sales Outstanding | — | 13.55 | 7.12 | 2.70 | 5.14 | 4.01 | 7.16 | 9.39 | 5.29 | 5.14 | 1.69 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.9% | 6.4% | 14.1% | 5.0% | 4.3% | 3.8% | 2.7% | 4.0% | 3.0% | 2.6% | 1.8% |
| Payout Ratio | 172.1% | 172.1% | 245.0% | 46.3% | 42.3% | 53.8% | 69.7% | 70.0% | 60.6% | 59.6% | 55.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.0% | 3.8% | 5.5% | 10.6% | 10.0% | 6.8% | 3.9% | 5.6% | 4.9% | 4.3% | 3.2% |
| FCF Yield | 5.3% | 4.9% | 8.0% | 12.2% | 11.9% | — | 5.6% | 6.4% | 3.5% | 6.1% | 2.6% |
| Buyback Yield | 0.4% | 0.3% | 0.3% | 0.2% | 0.2% | 0.3% | 0.5% | 1.7% | 1.3% | 1.5% | 6.6% |
| Total Shareholder Yield | 7.2% | 6.7% | 14.4% | 5.3% | 4.5% | 4.0% | 3.3% | 5.8% | 4.2% | 4.1% | 8.4% |
| Shares Outstanding | — | $35M | $34M | $34M | $33M | $33M | $34M | $34M | $35M | $35M | $38M |
Cyclical demand and margin compression
According to recent market data, MPX trades at a TTM P/E of 24.79, which appears elevated relative to its historical norms and suggests that investors are pricing in a recovery that may not be supported by current earnings volatility or the broader recreational marine sector's cyclical downturn.
The forward P/E of 16.36 implies an expectation of earnings normalization, yet this valuation remains difficult to justify given the lack of clear growth catalysts in the current high-interest-rate environment. Investors should monitor whether this premium is a reflection of the company's debt-free status or an overestimation of its ability to maintain margins during a period of softening retail demand.
Based on reported financial figures, MPX's ROIC has trended downward from 6.0% in 2024Q2 to 2.2% in 2026Q1, indicating that the company is struggling to compound capital effectively as the post-pandemic demand surge fades and operational costs remain stubbornly high relative to the current revenue base.
The decline in ROIC highlights the difficulty of maintaining returns in an assembly-heavy model where the company lacks the pricing power to offset rising input costs. This trend warrants further investigation into whether management can optimize its asset base or if the current return profile represents a new, lower baseline for the business.
As reported in recent filings, the cash conversion cycle has fluctuated significantly, reaching 82 days in 2026Q1, which reflects the company's ongoing struggle to balance inventory levels with the unpredictable wholesale demand patterns of its independent dealer network across the North American market.
The increase in days inventory outstanding (DIO) to 89 days in 2026Q1 suggests that dealers are holding more stock, which may indicate a slowdown in retail pull-through. This inefficiency in working capital management could lead to increased dealer support costs, further pressuring the company's already thin operating margins.
According to the latest balance sheet data, MPX maintains a current ratio of 3.84, providing a substantial liquidity buffer that appears significantly more robust than the strained positions of peers like OneWater Marine, effectively insulating the company from immediate insolvency risks during this period of cyclical contraction.
The absence of debt on the balance sheet is a critical differentiator that allows the company to navigate market volatility without the burden of interest coverage requirements. While this conservative stance limits potential growth through leverage, it provides the necessary flexibility to sustain operations and dividend payments through the current industry downturn.
The P/E ratio is frequently misapplied to MPX, as it obscures the company's significant cash position and lack of debt, which makes Enterprise Value a far more accurate metric for assessing the true cost of acquiring the business's underlying cash-generating assets in this cyclical environment.
Investors often overlook the impact of the company's $43.5 million cash pile, which effectively lowers the real cost of ownership compared to the market capitalization. Relying solely on P/E ignores the capital structure, leading to an incomplete understanding of the company's valuation relative to peers that carry significant debt loads.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying MPX stock.
Marine Products Corporation's current P/E ratio is 24.8x. The historical average is 24.8x. This places it at the 54th percentile of its historical range.
Marine Products Corporation's current EV/EBITDA is 13.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.4x.
Marine Products Corporation's return on equity (ROE) is 9.0%. The historical average is 18.8%.
Based on historical data, Marine Products Corporation is trading at a P/E of 24.8x. This is at the 54th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Marine Products Corporation's current dividend yield is 6.85% with a payout ratio of 172.1%.
Marine Products Corporation has 19.1% gross margin and 5.7% operating margin.