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Onewater Marine Inc. key statistics and ratios

In fiscal 2025, Onewater Marine Inc. had return on equity of -35.5%, an operating margin of -4.6%, debt equal to 146.0% of equity and a current ratio of 1.14. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2020Sept 20202021Sept 20212022Sept 20222023Sept 20232024Sept 20242025Sept 2025LTMJun 2026
Gross margin23.0%29.1%31.7%27.6%24.5%22.8%23.5%
Operating margin7.7%12.1%12.5%0.9%3.7%−4.6%−5.1%
Net margin1.7%6.4%7.5%−2.0%−0.3%−6.1%−6.7%
Free-cash-flow margin20.2%12.2%−0.2%−7.8%0.5%4.3%3.1%
Return on equity14.2%45.3%42.8%−10.4%−1.6%−35.5%−42.7%
Return on assets3.8%13.4%11.8%−2.4%−0.3%−7.7%−9.0%
Asset turnover2.232.081.571.221.081.251.34
Current ratio1.361.231.251.321.281.141.22
Debt to equity74.5%51.6%117.4%129.7%119.3%146.0%122.9%
Interest cover (operating income ÷ interest)8.9x34.3x16.5x0.5x1.7xn/mn/m
Effective tax rate11.5%18.1%22.1%————
SG&A as % of revenue14.0%16.2%17.3%17.8%18.8%18.3%18.7%
Capital spending as % of revenue0.6%0.8%0.7%1.1%1.5%0.6%0.5%
Free cash flow ÷ net income>999%189.1%−3.0%————
Dividends ÷ net income0.0%1.3%0.0%————
Dividends and buybacks ÷ free cash flow0.0%0.7%——0.0%0.0%—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 7 checks passed · June 30, 2026
What it owns · $1.3bn
Short-term assets $675mLonger-term assets $629m
What it owes, and who funded it · $1.3bn
Short-term liabilities $554mLonger-term liabilities $464mShareholders' equity $286m
  • Short-term assets cover short-term liabilities $675m of assets due within a year against $554m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $675m short-term assets against $464m of longer-dated liabilities.
  • More cash than debt $79m of cash against $348m of debt.
  • Debt below 40% of shareholders' equity Debt is 122% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 125% to 122% over five years.
  • A year's operating cash flow covers at least 20% of debt $66m of operating cash flow against $348m of debt.
  • Operating profit covers interest at least five times over Operating income of −$92m against $32m of interest.

From Onewater Marine Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

31 /100

Weak moat

How hard Onewater Marine's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 8.9% of total assets over 6 years.

  • Pricing power 8 / 20

    Gross margin has been a median 25.1%, moving by 3.1 percentage points (standard deviation) across 7 years.

  • Durability 1 / 20

    Operating margin has been a median 7.8%; its worst year was -5.1%.

  • Cash conversion 9 / 20

    Free cash flow was positive in 5 of 7 years, at a median 3.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (36 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: ONEW vs SVVIMMR vs ONEWBNED vs ONEWEYE vs ONEW

More: Other Specialty Retail stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Onewater Marine Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Onewater Marine Inc.