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Marinemax vs OneWater Marine: HZO and ONEW compared
Marinemax is the larger company: $611M of revenue in its latest quarter (Q3 FY26) against $531M for OneWater Marine (Q3 FY26). OneWater Marine is growing faster (-4% against -7% a year earlier). OneWater Marine is more profitable, with an operating margin of 6.7% against 6.1%.
Where the money goes: HZO and ONEW
Marinemax (HZO) · Q3 FY26
Marinemax, Q3 FY26: revenue $611M (-7% year over year), operating margin 6.1%, net earnings $15.6M, operating cash flow $85.2M. The chart follows the revenue to costs, profit and cash.
OneWater Marine (ONEW) · Q3 FY26
OneWater Marine, Q3 FY26: revenue $531M (-4% year over year), operating margin 6.7%, net earnings $11.7M, operating cash flow $80.4M. The chart follows the revenue to costs, profit and cash.
| Marinemax (HZO) | OneWater Marine (ONEW) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 FY26 |
| Revenue | $611M | $531M |
| Revenue growth, Y/Y | -7% | -4% |
| Gross margin | 35.7% | — |
| Operating margin | 6.1% | 6.7% |
| Net earnings | $15.6M | $11.7M |
| Net margin | 2.6% | 2.2% |
| Operating cash flow | $85.2M | $80.4M |
| Free cash flow | $77.2M | $77.6M |
| Market value | $1.2B | $160M |
| Analysts’ mean target | $49.40 | $13.00 |
Where the revenue comes from
OneWater Marine
- New boat: $320M (60%)
- Pre-owned boat: $121M (23%)
- Service, parts & other: $72.4M (14%)
- Finance & insurance income: $17.3M (3%)
Questions
Which is bigger, Marinemax or OneWater Marine?
Marinemax is the larger company: $611M of revenue in its latest quarter (Q3 FY26) against $531M for OneWater Marine (Q3 FY26).
Is Marinemax or OneWater Marine growing faster?
OneWater Marine is growing faster (-4% against -7% a year earlier).
Which is more profitable, Marinemax or OneWater Marine?
OneWater Marine is more profitable, with an operating margin of 6.7% against 6.1%.
More: Marinemax earnings · how Marinemax makes money · OneWater Marine earnings · how OneWater Marine makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Jul 23, 2026; 10-Q filed Jul 31, 2026). Fiscal quarters can end on different dates. Not investment advice.