Summary - Funding Rounds

Founding Date

1968

West Marine Revenue Breakdown

Embed Graph

West Marine revenue breakdown by business segment: 76.5% from Core boating products and 23.5% from Merchandise expansion products

West Marine Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

663.2m675.8m704.8m703.4m

Revenue growth, %

2%4%0%

Cost of goods sold

502.8m497.7m

Gross profit

202.0m205.7m

Gross profit Margin, %

29%29%

General and administrative expense

193.6m

Operating expense total

193.6m

EBIT

7.7m12.0m

EBIT margin, %

1%2%

Interest expense

452.0k432.0k

Pre tax profit

7.3m11.6m

Income tax expense

2.8m5.1m

Net Income

7.8m1.9m4.5m6.5m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2015Q3, 2016Q1, 2016Q2, 2016Q1, 2017Q2, 2017

Revenue

193.4m113.3m236.5m196.5m194.4m127.1m253.2m191.9m130.4m251.6m129.1m247.2m

Cost of goods sold

138.5m88.4m154.2m138.1m138.1m100.1m162.4m136.5m97.5m162.4m96.1m157.0m

Gross profit

54.9m24.9m82.3m58.4m56.3m27.0m90.8m55.4m32.9m89.2m32.9m90.3m

Gross profit Margin, %

28%22%35%30%29%21%36%29%25%35%26%37%

EBIT

13.1m(19.1m)32.6m9.9m8.7m(18.0m)37.3m7.5m(15.1m)36.5m(12.0m)36.1m

EBIT margin, %

7%(17%)14%5%4%(14%)15%4%(12%)15%(9%)15%

Interest expense

104.0k108.0k115.0k99.0k107.0k112.0k120.0k104.0k105.0k116.0k110.0k99.0k

Pre tax profit

13.0m(19.2m)32.4m9.8m8.6m(18.1m)37.1m7.4m(15.2m)36.4m(12.1m)36.0m

Income tax expense

6.7m(8.2m)14.1m4.8m3.7m(7.8m)16.2m3.5m(6.1m)14.8m(4.8m)14.8m

Net Income

6.3m(11.0m)18.3m4.9m4.9m(10.3m)20.9m3.9m(9.1m)21.6m(7.3m)21.2m

West Marine Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

48.4m45.7m48.2m76.1m

Accounts Receivable

6.4m

Current Assets

282.3m298.2m301.7m315.2m

PP&E

72.8m79.4m81.6m82.5m

Total Assets

364.2m385.5m391.8m406.1m

Accounts Payable

22.0m33.2m26.3m33.0m

Current Liabilities

59.3m74.2m75.0m78.1m

Total Liabilities

97.4m

Common Stock

26.0k

Additional Paid-in Capital

202.6m207.9m211.7m214.8m

Retained Earnings

90.9m92.9m97.4m103.9m

Total Equity

288.6m291.0m299.5m308.7m

Financial Leverage

1.3 x1.3 x1.3 x1.3 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2015Q3, 2016Q1, 2016Q2, 2016Q1, 2017Q2, 2017

Cash

69.9m10.4m38.9m63.6m60.5m6.6m44.2m93.9m22.4m89.6m47.0m113.3m

Accounts Receivable

7.9m9.3m11.0m8.5m8.6m9.6m10.7m8.9m9.1m10.6m9.1m10.3m

Current Assets

322.4m297.2m319.9m309.3m329.8m311.4m340.6m351.0m327.2m373.5m340.3m388.4m

PP&E

69.9m74.9m79.6m80.0m79.0m81.9m81.4m80.0m82.0m80.5m79.6m77.8m

Total Assets

401.2m381.2m407.9m396.9m415.7m401.2m429.3m439.7m417.5m462.5m428.1m474.4m

Accounts Payable

31.4m46.7m50.2m34.5m38.2m53.5m53.2m55.3m66.9m77.2m63.2m73.2m

Current Liabilities

80.3m91.1m97.2m80.8m85.5m98.7m104.8m104.1m109.1m131.3m107.0m130.0m

Total Liabilities

96.8m106.8m113.3m96.8m106.4m118.7m125.4m122.2m127.0m149.5m127.4m150.6m

Additional Paid-in Capital

200.2m204.1m206.1m206.7m210.7m209.5m210.1m213.8m212.2m213.1m215.6m216.9m

Retained Earnings

105.8m79.9m98.2m103.1m108.4m82.6m103.5m113.7m88.3m109.8m95.3m116.6m

Total Equity

304.4m274.4m294.7m300.2m309.4m282.5m303.9m317.5m290.5m313.0m300.7m323.7m

Financial Leverage

1.3 x1.4 x1.4 x1.3 x1.3 x1.4 x1.4 x1.4 x1.4 x1.5 x1.4 x1.5 x

West Marine Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

7.8m1.9m4.5m6.5m

Depreciation and Amortization

15.0m18.2m20.7m22.2m

Accounts Receivable

600.0k

Inventories

8.5m

Accounts Payable

1.1m10.8m(7.9m)5.9m

Cash From Operating Activities

13.6m24.0m23.3m49.3m

Purchases of PP&E

(28.6m)(24.6m)(22.6m)(22.7m)

Cash From Investing Activities

(24.2m)(24.5m)(22.5m)(21.8m)

Short-term Borrowings

(1.1m)

Cash From Financing Activities

2.4m(2.2m)1.6m434.0k

Net Change in Cash

28.0m

Interest Paid

293.0k328.0k287.0k275.0k

Income Taxes Paid

5.0m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q3, 2015Q1, 2016Q2, 2015Q3, 2016Q1, 2016Q2, 2016Q1, 2017Q2, 2018

Net Income

6.3m(11.0m)18.3m4.9m4.9m(10.3m)20.9m3.9m(9.1m)21.6m(7.3m)14.0m

Depreciation and Amortization

11.6m

Accounts Receivable

11.0m8.5m8.6m9.6m10.7m8.9m9.1m10.6m9.1m

Accounts Payable

50.2m34.5m38.2m53.5m53.2m55.3m66.9m77.2m63.2m41.1m

Cash From Operating Activities

45.9m

Purchases of PP&E

(7.8m)

Cash From Investing Activities

(7.8m)

Cash From Financing Activities

(910.0k)

Interest Paid

141.0k

West Marine Operating Metrics

FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Retail Space, sq ft

2.71 m2.56 m

Stores

279 274 273 265 254 261 258 256 253 250

West Marine Employee Rating

3.3327 votes
Culture & Values
3.5
Work/Life Balance
3.2
Senior Management
2.8
Salary & Benefits
2.6
Career Opportunities
2.9
Source