Malibu Boats
MBUU on Nasdaq. Malibu Boats builds boats and sells them to dealers and recreational boaters. Market value $518m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Industrials stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $9.73 of spare cash in the past 12 months. A savings account pays about $4.
You pay 171.3 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 3 cents a year. Above 10 is good.
Quality score: 44 of 100. Price score: 35 of 100. Our list needs 70 on quality and 60 on price.
$22.76 a share, 3% above its 1-year low
Over the past year the price has ranged from $22.20 to $34.97.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $1.2bn | $1.4bn | $829m | $808m | $915m |
| Operating margin | |||||
| Operating margin | 17.6% | 10.4% | -6.7% | 2.7% | 0.3% |
| Debt to equity | |||||
| Debt to equity | 0.24 | 0.00 | 0.00 | 0.03 | 0.31 |
| Shares outstanding | |||||
| Shares outstanding | 0.02bn | 0.02bn | 0.02bn | 0.02bn | 0.02bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)4 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt0.31× equity
- Revenue growth, five yearsShrinking, 0.3% a year
- Buying back its own sharesYes, 8% fewer since 2022
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $296 million last quarter, up 43% on a year ago.
- Profit: $7 million, up 55% on a year ago.
- It keeps 0 cents of each $1 of sales as operating profit, down from 3 cents a year earlier.
- Spare cash over the past 12 months: $43 million, up from $29 million.
- Debt is $91 million more than cash. A year ago it had $19 million more cash than debt.
- Sales grew on a year ago in 3 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $172m |
| December 2024 | $200m |
| March 2025 | $229m |
| June 2025 | $207m |
| September 2025 | $195m |
| December 2025 | $189m |
| March 2026 | $236m |
| June 2026 | $296m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$5m |
| December 2024 | $2m |
| March 2025 | $13m |
| June 2025 | $5m |
| September 2025 | -$702,000 |
| December 2025 | -$2m |
| March 2026 | -$2m |
| June 2026 | $7m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 27 August 2026
- Next quarterly (estimated, 10-Q)
- 6 August 2026
Who owns it
4 long-term investors we follow own it, unchanged from 4 last quarter. 142 funds in all.
- GMOJeremy Grantham
- Value
- $7m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Pzena Investment ManagementRichard Pzena | $49m | 0.1% | Added |
| Cooke & BielerCooke & Bieler partners | $30m | 0.4% | Cut |
| GMOJeremy Grantham | $7m | <0.1% | |
| Cullen Capital ManagementJames Cullen | $348,526 | <0.1% | Added |
Largest holders overall
- Pzena Investment Management$49mAdded
- BlackRock$44mAdded
- Wellington Management Group LLP$34mCut
- Cooke & Bieler$30mCut
- Lodge Hill Capital$25mAdded
- Dimensional Fund Advisors LP$25mCut
- Vanguard Capital Management$22m
- Fort Washington Investment Advisors$21mAdded
- American Century Companies$18mAdded
- Geode Capital Management$14mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Pzena Investment ManagementPassive investor9.0%Since 31 December 2025
- Wellington Management Group LLPPassive investorat least 6.3%−1.2 pts(filed with 3 related holders)Since 30 June 2026
- Cooke & BielerPassive investor5.6%−2.4 ptsSince 30 June 2026
- Twin Lions Management LLCPassive investorat least 2.6%−2.9 pts(filed with 1 related holder)Since 30 June 2026
- Capital World InvestorsPassive investorSold down below 5%Since 30 September 2025
- Dimensional Fund Advisors LPPassive investorSold down below 5%Since 31 December 2025
- NOMURA ASSET MANAGEMENT INTERNATIONAL INC.Passive investorSold down below 5%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- Macquarie Group LimitedPassive investorSold down below 5%Since 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
Pzena Investment Management Passive investor | 9.0% | 31 December 2025 | |
Wellington Management Group LLP Passive investor | at least 6.3%−1.2 pts (filed with 3 related holders) | 30 June 2026 | |
Cooke & Bieler Passive investor | 5.6%−2.4 pts | 30 June 2026 | |
Twin Lions Management LLC Passive investor | at least 2.6%−2.9 pts (filed with 1 related holder) | 30 June 2026 | |
Capital World Investors Passive investor | Sold down below 5% | 30 September 2025 | |
Dimensional Fund Advisors LP Passive investor | Sold down below 5% | 31 December 2025 | |
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. Passive investor | Sold down below 5% | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
Macquarie Group Limited Passive investor | Sold down below 5% | 31 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Aug 2026, plus 1 later 8-K.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 0.3% a year.
- It isn't cheap on profits: 171.3× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.