Five Below vs MarineMax
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The short version
- Five Below is the larger business, with $4.8B of revenue in fiscal 2025 against $2.3B for MarineMax, about 2.1 times as much.
- Five Below grew revenue faster (22.9%, against −5.0%).
- Five Below kept more of each dollar of sales as operating profit (9.6% operating margin, against 1.5%).
- Five Below turned more of its sales into free cash flow (8.6% FCF margin, against 0.5%).
- Five Below earned a higher return on the capital invested in it (26.9%, against 1.4%).
| Latest fiscal year | FIVE · FY25 | HZO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.4B | $1.2B |
| Revenue | $4.8B | $2.3B |
| Free cash flow | $412M | $11.9M |
| Net income | $359M | −$31.6M |
| Growth | ||
| Revenue growth | 22.9% | −5.0% |
| 5-year growth | 19.4% | 8.9% |
| Share count change | 0.5% | −4.2% |
| Profitability | ||
| Gross margin | 36.0% | 32.5% |
| Operating margin | 9.6% | 1.5% |
| Net margin | 7.5% | −1.4% |
| FCF margin | 8.6% | 0.5% |
| Return on capital | 26.9% | 1.4% |
| Return on equity | 17.9% | −3.3% |
| Balance sheet | ||
| Net debt | −$932M | $939M |
| Net debt / EBITDA | −1.4x | 11.3x |
| Dividends and buybacks | $0.0M | $27.5M |
| Valuation & quality | ||
| P/E | 20.0x | — |
| Piotroski F-score | 7 | 5 |
FY16
FIVE $1.0B
HZO $942M
FY17
FIVE $1.3B
HZO $1.1B
FY18
FIVE $1.6B
HZO $1.2B
FY19
FIVE $1.8B
HZO $1.2B
FY20
FIVE $2.0B
HZO $1.5B
FY21
FIVE $2.8B
HZO $2.1B
FY22
FIVE $3.1B
HZO $2.3B
FY23
FIVE $3.6B
HZO $2.4B
FY24
FIVE $3.9B
HZO $2.4B
FY25
FIVE $4.8B
HZO $2.3B
FIVE
HZO
FY16
FIVE 11.4%
HZO 4.3%
FY17
FIVE 12.3%
HZO 4.3%
FY18
FIVE 12.0%
HZO 5.4%
FY19
FIVE 11.8%
HZO 4.9%
FY20
FIVE 7.9%
HZO 7.1%
FY21
FIVE 13.3%
HZO 10.2%
FY22
FIVE 11.2%
HZO 11.5%
FY23
FIVE 10.8%
HZO 8.4%
FY24
FIVE 8.4%
HZO 5.3%
FY25
FIVE 9.6%
HZO 1.5%
FIVE
HZO
FY16
FIVE $61.8M
HZO $10.0M
FY17
FIVE $99.6M
HZO −$9.6M
FY18
FIVE $70.4M
HZO $56.6M
FY19
FIVE −$25.3M
HZO −$29.5M
FY20
FIVE $166M
HZO $292M
FY21
FIVE $39.8M
HZO $348M
FY22
FIVE $63.0M
HZO $18.1M
FY23
FIVE $165M
HZO −$288M
FY24
FIVE $107M
HZO −$86.1M
FY25
FIVE $412M
HZO $11.9M
FIVE
HZO
FY16
FIVE 44.4%
HZO 6.3%
FY17
FIVE 51.9%
HZO 5.9%
FY18
FIVE 59.4%
HZO 9.0%
FY19
FIVE 44.3%
HZO 7.7%
FY20
FIVE 25.7%
HZO 14.9%
FY21
FIVE 46.2%
HZO 35.0%
FY22
FIVE 29.8%
HZO 33.9%
FY23
FIVE 27.7%
HZO 12.4%
FY24
FIVE 20.2%
HZO 5.2%
FY25
FIVE 26.9%
HZO 1.4%
FIVE
HZO
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.