Updated
The most significant concentration Malibu Boats discloses is engines from a sole supplier or limited number of suppliers, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Malibu Boats’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'including engines, boat windshields, certain electrical components and gel coats are available from a sole supplier or a limited number of suppliers'”
“10-K Item 1: 'Our top ten dealers represented 42.8%, 40.4% and 41.1%, of our net sales for fiscal year 2025, 2024 and 2023, respectively.'”
“10-K Item 1: 'Sales to our dealers under common control of OneWater Marine, Inc. represented approximately 24.7%, 23.7% and 17.2% of consolidated net sales in fiscal years 2025, 2024 and 2023'”
Malibu Boats has a channel concentration that is more consequential than its supplier disclosure might suggest. Its top ten dealers represented 42.8% of net sales in fiscal year 2025, versus 40.4% and 41.1% in the two prior years, and dealers under common control of OneWater Marine, Inc. alone represented approximately 24.7% of consolidated net sales, up from 23.7% and 17.2%. These are dependency exposures: a dealer consolidator controls a quarter of sales, and the trend has been upward, which raises negotiating leverage and floorplan-financing sensitivity on the dealer side. On the supply side, engines, boat windshields, certain electrical components and gel coats are available from a sole supplier or a limited number of suppliers. This is an idiosyncratic production risk that could interrupt output regardless of demand. Netted together, the dealer concentration, especially the OneWater relationship, is the exposure most likely to move results through volume and pricing, while the sole-source components represent an operational chokepoint. All are disclosed in the 10-K.
For the engine’s reasoning on MBUU’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| HOG | Harley-Davidson, Inc. | 3 | 0 | 0 | 3 |
| BC | Brunswick Corporation | 1 | 2 | 0 | 3 |
| LCII | LCI Industries | 1 | 1 | 2 | 4 |
| MBUU● | Malibu Boats, Inc. | 1 | 1 | 1 | 3 |
| MCFT | MasterCraft Boat Holdings, Inc. | 1 | 1 | 0 | 2 |
| PATK | Patrick Industries, Inc. | 0 | 2 | 0 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.