Marine Products Corp
MPX—
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Marine Products Corp AI Insights
Informational only. Not investment advice.Snapshot
- Zero debt with 47.4M cash (38% of equity) - fortress balance sheet in cyclical industry facing -19% 3Y revenue decline[Debt to Equity]
- ROE 10.4% vs industry median 2.1% despite revenue shrinking -5% over 5Y - margin discipline holding through downcycle[Return on Equity TTM]
- Dividend payout ratio 78.5% (5Y avg) consuming most of 14.4M FCF TTM - limited reinvestment capacity[Dividend Payout Ratio Avg 5yr]
Watch Triggers
- Total Revenue TTM: Quarterly revenue turns positive YoY — First sign of cycle turn; validates inventory build thesis
- Inventory: Rises above 70M or falls below 50M — Signals management's demand outlook; excess = margin risk
- Dividend Payout Ratio Avg 5yr: Dividend cut or suspension — Would signal severe cash stress given 78% payout rate
Bull Case
Zero leverage + 47M cash provides optionality for M&A or buybacks when cycle turns; peers carry significant debt
Debt to EquityCash and Equivalents
Operating margin 6.1% vs industry median 3.6% maintained through downcycle - structural cost advantage
Operating Margin TTMTotal Revenue 3yr Growth
Bear Case
Revenue down -19% 3Y and -5% 5Y with EPS down -18% 5Y - secular decline in recreational boat demand possible
Total Revenue 3yr GrowthEPS Growth 5yr
P/E 21.9x at industry median despite negative growth - no discount for shrinking business
PE RatioTotal Revenue 5yr Growth
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
40%
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Forward Thesis
Revenue stabilization likely as inventory levels (61.5M) position for demand recovery
1-3ymed
- Inventory 43% of current assets signals production confidence
- Zero debt enables weathering extended downturn
- FCF positive through -19% revenue decline
FCF 14.4M TTM on 227.7M revenueWorking capital 89.3M provides bufferAsset turnover 1.28x above median 0.68x
Valuation Context
Caveats
Public Strategies Rankings
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MPX Fundamentals
Manufacturing → Transportation Equipment Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$244.73M | — | ||
$201.22M | — | ||
22 | — | ||
$244.42M | +3.3% | — | |
$0.32 | -35.5% | — | |
5.74% | -1.9% | — | |
4.66% | -2.9% | — | |
$14.92M | -40.1% | — | |
8.96% | -3.8% | — | |
Beta 5Y (Monthly) | unknown | — |
MPX Dividend History
89 dividends
2026
$0.140002/10/26$0.1400
2025
$0.560011/10/25$0.1400
08/11/25$0.1400
05/09/25$0.1400
02/10/25$0.1400
2024
$1.260011/08/24$0.1400
08/09/24$0.1400
05/09/24$0.8400
02/08/24$0.1400
2023
$0.560011/09/23$0.1400
08/09/23$0.1400
05/09/23$0.1400
02/09/23$0.1400
2022
$0.500011/09/22$0.1400
08/09/22$0.1200
05/09/22$0.1200
02/09/22$0.1200
2021
$0.460011/09/21$0.1200
08/09/21$0.1200
05/07/21$0.1200
02/09/21$0.1000
2020
$0.400011/09/20$0.1200
08/07/20$0.0800
05/08/20$0.0800
02/07/20$0.1200
2019
$0.480011/07/19$0.1200
08/08/19$0.1200
05/09/19$0.1200
02/08/19$0.1200
2018
$0.500011/08/18$0.2000
08/09/18$0.1000
05/09/18$0.1000
02/08/18$0.1000
2017
$0.330011/09/17$0.1200
08/08/17$0.0700
05/08/17$0.0700
02/08/17$0.0700
2016
$0.240011/08/16$0.0600
08/08/16$0.0600
05/06/16$0.0600
02/08/16$0.0600
2015
$0.200011/06/15$0.0800
08/06/15$0.0400
05/07/15$0.0400
02/06/15$0.0400
2014
$0.160011/06/14$0.0700
08/06/14$0.0300
05/07/14$0.0300
02/06/14$0.0300
2013
$0.150011/06/13$0.0600
08/07/13$0.0300
05/08/13$0.0300
02/06/13$0.0300
2012
$0.630011/07/12$0.5700
08/08/12$0.0200
05/08/12$0.0200
02/08/12$0.0200
2009
$0.010002/06/09$0.0100
2008
$0.260011/06/08$0.0650
08/06/08$0.0650
05/07/08$0.0650
02/06/08$0.0650
2007
$0.240011/07/07$0.0600
08/08/07$0.0600
05/09/07$0.0600
02/08/07$0.0600
2006
$0.200011/08/06$0.0500
08/09/06$0.0500
05/05/06$0.0500
02/08/06$0.0500
2005
$0.160011/08/05$0.0400
08/10/05$0.0400
05/06/05$0.0400
02/08/05$0.0400
2004
$0.106811/08/04$0.0267
08/06/04$0.0267
05/06/04$0.0267
02/06/04$0.0267
2003
$0.071211/06/03$0.0178
08/07/03$0.0178
05/07/03$0.0178
02/06/03$0.0178
2002
$0.035611/06/02$0.0089
08/07/02$0.0089
05/08/02$0.0089
02/07/02$0.0089
2001
$0.026711/07/01$0.0089
08/08/01$0.0089
05/08/01$0.0089
MPX Stock Splits
2 stock splits
03/11/052:3 split
03/11/040.666667:1 split
MPX SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/27/26 | 12/31/25 | Unknown | |
10/30/25 | 09/30/25 | 10-Q | |
07/24/25 | 06/30/25 | 10-Q | |
04/24/25 | 03/31/25 | 10-Q | |
02/28/25 | 12/31/24 | 10-K | |
10/24/24 | 09/30/24 | 10-Q | |
07/25/24 | 06/30/24 | 10-Q | |
04/25/24 | 03/31/24 | 10-Q | |
02/28/24 | 12/31/23 | 10-K | |
10/26/23 | 09/30/23 | 10-Q | |
07/28/23 | 06/30/23 | 10-Q | |
04/28/23 | 03/31/23 | 10-Q | |
02/27/23 | 12/31/22 | 10-K | |
10/28/22 | 09/30/22 | 10-Q | |
07/29/22 | 06/30/22 | 10-Q | |
04/29/22 | 03/31/22 | 10-Q | |
02/28/22 | 12/31/21 | 10-K | |
10/29/21 | 09/30/21 | 10-Q | |
07/30/21 | 06/30/21 | 10-Q | |
04/30/21 | 03/31/21 | 10-Q | |
02/26/21 | 12/31/20 | 10-K | |
10/30/20 | 09/30/20 | 10-Q | |
07/31/20 | 06/30/20 | 10-Q | |
05/01/20 | 03/31/20 | 10-Q | |
02/28/20 | 12/31/19 | 10-K | |
10/31/19 | 09/30/19 | 10-Q | |
07/31/19 | 06/30/19 | 10-Q | |
05/02/19 | 03/31/19 | 10-Q | |
02/28/19 | 12/31/18 | 10-K | |
10/31/18 | 09/30/18 | 10-Q | |
07/31/18 | 06/30/18 | 10-Q | |
04/30/18 | 03/31/18 | 10-Q | |
02/28/18 | 12/31/17 | 10-K | |
10/31/17 | 09/30/17 | 10-Q | |
07/31/17 | 06/30/17 | 10-Q | |
04/28/17 | 03/31/17 | 10-Q | |
02/28/17 | 12/31/16 | 10-K | |
10/31/16 | 09/30/16 | 10-Q | |
08/01/16 | 06/30/16 | 10-Q | |
05/03/16 | 03/31/16 | 10-Q | |
02/29/16 | 12/31/15 | 10-K | |
10/30/15 | 09/30/15 | 10-Q | |
07/31/15 | 06/30/15 | 10-Q | |
05/01/15 | 03/31/15 | 10-Q | |
02/27/15 | 12/31/14 | 10-K | |
11/03/14 | 09/30/14 | 10-Q | |
07/31/14 | 06/30/14 | 10-Q | |
04/29/14 | 03/31/14 | 10-Q | |
03/06/14 | 12/31/13 | 10-K | |
11/01/13 | 09/30/13 | 10-Q | |
07/31/13 | 06/30/13 | 10-Q | |
05/01/13 | 03/31/13 | 10-Q | |
03/01/13 | 12/31/12 | 10-K | |
11/01/12 | 09/30/12 | 10-Q | |
08/02/12 | 06/30/12 | 10-Q | |
05/02/12 | 03/31/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
11/03/11 | 09/30/11 | 10-Q | |
08/01/11 | 06/30/11 | 10-Q | |
05/05/11 | 03/31/11 | 10-Q | |
03/04/11 | 12/31/10 | 10-K | |
11/04/10 | 09/30/10 | 10-Q | |
08/06/10 | 06/30/10 | 10-Q | |
05/07/10 | 03/31/10 | 10-Q | |
03/10/10 | 12/31/09 | 10-K | |
11/05/09 | 09/30/09 | 10-Q | |
08/05/09 | 06/30/09 | 10-Q | |
05/05/09 | 03/30/09 | 10-Q | |
03/05/09 | 12/31/08 | 10-K | |
11/07/08 | 09/30/08 | 10-Q | |
08/04/08 | 06/30/08 | 10-Q | |
05/01/08 | 03/30/08 | Unknown | -- |
03/04/08 | 12/31/07 | 10-K | |
10/31/07 | 09/30/07 | 10-Q | |
08/03/07 | 06/30/07 | 10-Q | |
05/04/07 | 03/30/07 | Unknown | -- |
03/02/07 | 12/31/06 | 10-K | |
11/02/06 | 09/30/06 | 10-Q | |
08/07/06 | 06/30/06 | 10-Q | |
05/05/06 | 03/30/06 | Unknown | -- |
03/13/06 | 12/31/05 | 10-K | |
11/04/05 | 09/30/05 | 10-Q | |
08/05/05 | 06/30/05 | 10-Q | |
05/06/05 | 03/30/05 | Unknown | -- |
03/15/05 | 12/31/04 | 10-K | |
11/01/04 | 09/30/04 | 10-Q | |
08/04/04 | 06/30/04 | 10-Q | |
05/05/04 | 03/30/04 | Unknown | -- |
03/09/04 | 12/31/03 | 10-K | |
10/31/03 | 09/30/03 | 10-Q | |
07/25/03 | 06/30/03 | 10-Q | |
05/06/03 | 03/30/03 | Unknown | -- |
03/21/03 | 12/31/02 | 4 | |
11/14/02 | 09/30/02 | 10-Q | |
08/05/02 | 06/30/02 | 10-Q | |
05/14/02 | 03/30/02 | Unknown | -- |
03/22/02 | 12/31/01 | 10-K405 | |
11/14/01 | 09/30/01 | 10-Q | |
08/14/01 | 06/30/01 | 10-Q | |
05/14/01 | 03/30/01 | Unknown | -- |