Start here if you're new
what it is
Marine Products builds fiberglass powerboats and sells them through dealers, mostly under the Chaparral name.
how it gets paid
Last year Marine Products made $244M in revenue. Chaparral sterndrive boats was the main engine at $92M, or 38% of sales.
why it's growing
Revenue grew 3.3% last year. The $180M revenue print mattered most because it was 238% above last year.
what just happened
Marine Products posted $180M in quarterly revenue and $0.25 in EPS.
At a glance
B+ balance sheet — decent shape, but not bulletproof
50/100 earnings predictability — expect surprises
21.4x trailing p/e — priced about right
7.9% dividend yield — cash in your pocket every quarter
13.8% return on capital — nothing to write home about
xvary composite: 49/100 — below average
What they do
Marine Products builds fiberglass powerboats and sells them through dealers, mostly under the Chaparral name.
I don't call this a wide moat. I call it a dealer-led business with 5 plants and 617 employees doing custom builds. Your order is sticky because the dealer picks the engine at order time, and Marine Products does not make the engine. If dealer orders fall for 2 straight quarters, the moat story dies.
How they make money
$244M
annual revenue · their business grew +3.3% last year
Chaparral sterndrive boats
$92M
Chaparral outboard boats
$61M
Vortex jet boats
$30M
Sportboat and deckboat models
$37M
Cruiser and sport-fishing models
$24M
The products that matter
sportboats and deckboats
Chaparral Boats
$195M · about 80% of disclosed brand revenue
It's the bigger brand by far at $195M, or roughly four times Robalo's $49M. If this line softens, the whole company feels it.
core revenue driver
center console fishing boats
Robalo Boats
$49M · about 20% of disclosed brand revenue
At $49M, this is the smaller brand and the smaller earnings lever. It matters, but it does not carry the company.
secondary brand
Key numbers
$244M
Annual sales
You are buying a $244M boat maker, not a giant. Small demand changes hit the whole base.
7.9%
Dividend yield
A 7.9% cash yield is the stock's main pitch. If the payout falls, the story changes.
8.8%
Operating margin
For every $100 in sales, MPX keeps $8.80 before interest and tax. That is thin when demand wobbles.
13.8%
Return on capital
The company earns $13.80 for every $100 tied up in the business. That is decent, but not bulletproof.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 4 — safer than 20% of stocks
- price stability 45 / 100
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for MPX right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Marine Products posted $180M in quarterly revenue and $0.25 in EPS.
Revenue jumped 238% from a year earlier, and gross margin was 19.0%. That says the factory is busy, even if boat demand stays choppy.
$180M
revenue
$0.25
eps
19.0%
gross margin
the number that mattered
The $180M revenue print mattered most because it was 238% above last year.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is the MasterCraft merger breaking or repricing.
high
Merger break risk
The pending all-stock deal implies a value of $7.79 per share. With MPX trading at $8.98, the market is assuming the deal path stays intact.
about 13% downside just to the implied deal value
high
Dealer-demand risk
Marine Products sells through independent dealers. If dealer orders slow or inventory builds, the pain runs straight through the income statement.
exposes essentially all of the $237M revenue base
med
Interest-rate sensitivity
Boats are financed discretionary purchases. Higher borrowing costs pressure both consumers and dealers, and MPX is already reporting flat unit sales.
keeps volume weak and makes pricing carry too much weight
med
Dividend durability risk
A 7.9% yield looks attractive until earnings keep sliding. If the deal fails and profitability stays soft, the payout story gets less comfortable fast.
income support weakens at exactly the wrong time
A broken deal would leave you with a 21.4x trailing P/E boat stock, flat unit sales, and a yield the market already distrusts.
source: institutional data · regulatory filings · risk analysis
Pay attention to
deal spread
merger math vs. market price
The stock trades at $8.98 while the pending deal implies $7.79. That gap is the whole short-term story.
calendar
Q4 and full-year results
Watch for merger commentary, demand trends, and whether unit sales stay flat or finally move.
trend
dealer inventory and order pacing
This is the leading indicator for a business sold through dealers. Inventory pressure usually shows up before revenue does.
metric
dividend coverage by earnings
A 7.9% yield is nice until it isn't. If earnings keep shrinking, the dividend story becomes financing theater.
Analyst rankings
earnings predictability
50 / 100
Middle of the pack. In human-speak, analysts do not trust this business to deliver smooth quarters.
risk rank
4
Risk rank is a relative safety score. In human-speak, this is not the stock you hide in when consumer demand cracks.
source: institutional data
Institutional activity
institutional ownership data for MPX is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$9
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive