Forensic Analysis · Industrials / Manufacturing / Defense · as of Jun 27, 2026
MALIBU BOATS, INC. (MBUU)
A forensic read on MALIBU BOATS, INC. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Safe
Financial health
5.6
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-0.2%
ROE
$565M
Market cap
MALIBU BOATS, INC. earns a B (Sound & dependable) forensic quality grade, and its Altman Z-score is 5.6, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
3%Return on invested capital.Return on invested capital is 3% and slipping from 26% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
1% of revStock-based comp load.Stock-based compensation ran 1% of revenue and 21% of free cash flow in FY2025 — about $0.30 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
126% of FCFShareholder returns.Returned $36M to shareholders (buybacks + dividends) in FY2025 — 126% of free cash flow, but 64% of operating cash flow. Returns run ahead of free cash flow because the business is also funding heavy growth capex (usually debt-financed); the payout itself is covered by operating cash — sustainable as long as that spending is genuine expansion, not upkeep.
$49MGoodwill impairments.Took $49M of goodwill writedowns across 1 year(s) (FY2024 ($49M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin1.8%
Debt / Equity0.03x
Free Cash Flow$28.6M
Latest Revenue$807.6M
Return on Equity2.9%
Revenue Growth YoY-2.6%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on MALIBU BOATS, INC.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about MBUU's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown