Short answer
MALIBU BOATS, INC. (MBUU) filed its fiscal 2026 10-K annual report with the SEC on Aug 27, 2026. It reported revenue of $915M (+13.3% year over year) and net income of $2M.
- Top risk flagged: Regulatory risk from evolving data privacy laws including CCPA, GDPR, UK GDPR, and upcoming EU Cyber Resilience Act with fines up to €15M or 2.5% global turnover by Dec 2027
FY2026 key financial metrics · XBRL
- Revenue
- $915M
- +13.3% YoY
- Net income
- $2M
- −88.9% YoY
- Operating margin
- 0.3%
- −2.4 pp YoY
- Gross margin
- 16.0%
- −1.8 pp YoY
- EPS (diluted)
- $0.09
- −88.2% YoY
- ROE
- 0.3%
- −2.6 pp YoY
- Operating cash flow
- $68M
- +19.5% YoY
Source: XBRL data from the MALIBU BOATS, INC. (MBUU) FY2026 10-K on SEC EDGAR. USD.
MALIBU BOATS, INC. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Design, manufacture, and market diverse recreational powerboats across nine premium brands targeting performance sport, sterndrive, outboard, and premium adventure dayboat markets
- New emphasis on Saxdor acquisition March 2026, expanding premium adventure dayboat segment and global dealer network to 345 locations in 68 countries
- Strategic shift: Increased vertical integration including marine engines (Monsoon) and wiring harnesses to improve control, margin, and supply chain resilience
- Employee count approximately 3,000 worldwide with expansion of employee development programs including mentorship and PACESetter Awards in fiscal 2026
- Top ten dealers represented 62.4% of net sales in 2026; OneWater Marine accounted for 22.3% of consolidated net sales, indicating concentrated dealer impact
Management Discussion & Analysis
- Revenue $914.6M, up 13.3% YoY (+$107.0M), driven by $84.3M from Saxdor acquisition and favorable model mix with price increases
- Gross margin 16.0% vs 17.8% prior year; operating income margin 0.3% vs 2.7%; net income margin 0.2% vs 1.9%, reflecting higher costs and acquisition expenses
- Best performer: Saxdor segment $84.3M sales from 246 units; worst: unit volumes down in Malibu (-73 units), Saltwater Fishing (-53 units), and Cobalt (-74 units) despite sales growth
- Cash flow from operations $67.5M (+$11.0M); capex $24.7M; stock repurchases $33.9M under $70M program; $140M borrowed under credit facility for Saxdor acquisition
- Outlook: Soft retail demand in FY27; expect elevated dealer incentives; tariffs may add 1.5%-3% to cost of sales, offset by pricing; strong balance sheet and $350M credit facility support growth
Risk Factors
- Regulatory risk from evolving data privacy laws including CCPA, GDPR, UK GDPR, and upcoming EU Cyber Resilience Act with fines up to €15M or 2.5% global turnover by Dec 2027
- Geopolitical supply chain disruption risk from Iran conflict impacting commodity and logistics costs globally, increasing materials and production expenses
- Supply chain risk from sole-source engine suppliers General Motors agreement expiring 2026 and possible reductions, risking production shortfalls and increased costs
- Competitive risk from larger rivals with greater R&D resources able to patent competing technologies, risking IP litigation and market share loss
- Financial risk from $38.7M estimated future payments under Tax Receivable Agreement, potentially impacting liquidity and cash flow over next 15 years
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