OneWater Marine Inc. (ONEW): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el plan estratégico de Onewater Marine Inc. (OneW), una potencia en la industria de servicios minoristas y de servicios marinos que ha creado magistralmente un modelo de negocio integral. Integrando sin problemas las ventas de embarcaciones, el servicio, el financiamiento y la experiencia del cliente en todo 170+ Ubicaciones en todo el país, Onewater ha transformado el mercado marino tradicional en un ecosistema dinámico y centrado en el cliente. Este lienzo de modelo de negocio revela cómo la compañía navega por las complejas aguas del mercado, ofreciendo un valor incomparable a los entusiastas de la navegación, los profesionales y las partes interesadas de la industria marina a través de estrategias innovadoras y marcos operativos sólidos.

Onewater Marine Inc. (OneW) - Modelo de negocios: asociaciones clave

Asociaciones de fabricantes de barcos

Onewater Marine mantiene asociaciones estratégicas con los principales fabricantes de botes:

Fabricante	Detalles de la asociación	Cuota de mercado
Boston Whaler	Red de distribuidores primarios	37% de las ventas de botes
Yamaha	Distribución fuera del motor	22% de la venta de motores marinos
Marina de mercurio	Asociación integral de propulsión marina	28% del mercado de los motores marinos

Red de concesionario marino

Onewater Marine opera en múltiples estados con una amplia presencia de concesionario:

• Ubicaciones totales de concesionario: 87 en 13 estados
• Cobertura geográfica: regiones del sudeste y de la costa del Golfo
• Ingresos anuales del concesionario: $ 687.3 millones (2023)

Asociaciones de instituciones financieras

Socio financiero	Enfoque de asociación	Volumen de préstamos
Wells Fargo	Financiación del buque marino	Préstamos marinos anuales de $ 214 millones
Banco de América	Crédito marino del consumidor	Líneas de crédito marino de $ 176 millones

Colaboraciones de proveedores de seguros

• Seguro progresivo: socio de seguro marino primario
• Geico Marine Insurance: proveedor de cobertura secundaria
• Políticas de seguro marino total procesadas: 42,500 anuales

Proveedores de piezas y accesorios marinos

Proveedor	Categoría de productos	Valor de suministro anual
Genuine Marine Parts Inc.	Componentes de reemplazo	$ 45.6 millones
Almacén de accesorios marinos	Equipo de posventa	$ 38.2 millones

Onewater Marine Inc. (OneW) - Modelo de negocio: actividades clave

Venta y distribución de barcos marinos

En el año fiscal 2023, Onewater Marine reportó ingresos totales de ventas de botes de $ 1.46 mil millones. La compañía representa múltiples marcas de botes en 75 ubicaciones minoristas en 14 estados.

Métrico	Valor
Ingresos totales de ventas de embarcaciones	$ 1.46 mil millones (el año fiscal 2023)
Ubicación minorista	75 ubicaciones
Cobertura geográfica	14 estados

Servicio y mantenimiento de buques marinos

Onewater Marine genera ingresos significativos de las operaciones de servicio y mantenimiento, con centros de servicio dedicados en su red minorista.

• Ingresos promedio del departamento de servicio por ubicación: $ 1.2 millones anuales
• Técnicos de servicio: aproximadamente 500 técnicos marinos certificados
• Valor de orden de trabajo de servicio promedio: $ 850

Corretaje y consignación

La compañía opera una plataforma integral de corretaje de embarcaciones con canales especializados de ventas de embarcaciones usados.

Métrico de corretaje	Valor
Volumen de ventas de botes usados	Aproximadamente 1.200 buques anualmente
Valor promedio de bote usado	$85,000

Piezas y accesorios marinos Retail

Las piezas y los accesorios representan un flujo de ingresos crítico para Onewater Marine.

• Ingresos de piezas y accesorios: $ 127 millones en el año fiscal 2023
• Valor de inventario: aproximadamente $ 38 millones en acciones de piezas
• Margen promedio de piezas: 35-40%

Servicios de financiamiento y seguros del cliente

Onewater Marine ofrece soluciones integradas de financiamiento y seguros para clientes marinos.

Métrico de financiamiento	Valor
Ventas financiadas totales	$ 942 millones (el año fiscal 2023)
Monto promedio del préstamo	$62,500
Productos de seguro ofrecidos	8 paquetes de seguro marino diferentes

Onewater Marine Inc. (OneW) - Modelo de negocios: recursos clave

Extensa red de concesionarios marinos

A partir del cuarto trimestre de 2023, Onewater Marine opera 87 ubicaciones de concesionario en 13 estados en los Estados Unidos.

Región geográfica	Número de concesionarios
Sudeste de los Estados Unidos	52
Nordeste de los Estados Unidos	18
Costa oeste	17

Técnicos marinos calificados y personal de servicio

Onewater Marine emplea a aproximadamente 1,200 técnicos y personal de servicio a partir de 2023.

• Tasa de certificación de técnico promedio: 92%
• Años promedio de experiencia por técnico: 8.5 años
• Horas de capacitación anual por técnico: 40 horas

Sistemas de gestión de inventario robustos

Valor de inventario total al 30 de septiembre de 2023: $ 347.8 millones.

Categoría de inventario	Valor
Nuevos barcos	$ 215.6 millones
Botes usados	$ 82.4 millones
Piezas y accesorios	$ 49.8 millones

Fuertes relaciones de marca con los fabricantes

Onewater Marine representa 16 marcas marinas líderes en su red de concesionario.

• Los mejores fabricantes: Boston Whaler, Yamaha, Mercury Marine, Sea Ray
• Duración promedio de la relación del fabricante: 12.3 años

Plataformas de ventas y servicios digitales

Métricas de plataforma digital para el año fiscal 2023:

• Porcentaje de ventas en línea: 22% de los ingresos totales
• Descargas de aplicaciones móviles: 78,000
• Tasa de reserva de servicios digitales: 65% de las citas de servicio total

Métrica de plataforma digital	Valor 2023
Sitio web Visitantes mensuales	425,000
Vistas de inventario en línea	1.2 millones
Tasa de participación digital del cliente	38%

Onewater Marine Inc. (OneW) - Modelo de negocio: propuestas de valor

Experiencia minorista y servicio marino integral

Onewater Marine Inc. opera 87 ubicaciones minoristas en 13 estados a partir del año fiscal 2023. La compañía generó $ 1.47 mil millones en ingresos totales para el año fiscal que finaliza el 30 de septiembre de 2023.

Categoría de servicio	Número de ubicaciones	Cobertura geográfica
Tiendas minoristas marinas	87	13 estados de EE. UU.
Centros de servicio	62	Múltiples regiones estatales

Amplia selección de botes nuevos y de propiedad de propiedad

En el año fiscal 2023, Onewater Marine vendió 6,257 botes nuevos y 2,413 barcos usados, lo que representa un volumen total de ventas de botes de 8,670 unidades.

• Nuevas marcas de botes representadas: 24
• Inventario de botes usado: aproximadamente 500-600 unidades
• Rango promedio de precios del barco: $ 35,000 - $ 250,000

Soporte técnico experto y mantenimiento

Onewater Marine emplea Más de 650 técnicos de servicio marino en su red de centros de servicio.

Métrico de servicio	Rendimiento anual
Pedidos de servicio totales	42,300
Tiempo promedio de reparación del servicio	3.2 días

Soluciones de financiamiento y seguros convenientes

Onewater Marine ofrece múltiples opciones de financiamiento a través de asociaciones con instituciones de préstamos marinos.

• Opciones de financiamiento interiores disponibles
• Ofertas de productos de seguros marinos múltiples
• Monto promedio del préstamo: $ 68,500

Presencia a nivel nacional con servicio al cliente localizado

Onewater Marine mantiene una huella geográfica estratégica con concentración en el sureste y suroeste de los Estados Unidos.

Región	Número de ubicaciones	Estimación de la cuota de mercado
Sudeste	47	35%
Suroeste	22	25%
Otras regiones	18	15%

Onewater Marine Inc. (OneW) - Modelo de negocios: relaciones con los clientes

Consultas de ventas personales

A partir de 2023, Onewater Marine opera 87 ubicaciones minoristas en 13 estados. La compañía emplea a aproximadamente 1,200 profesionales de ventas especializados en venta minorista y servicio marino.

Métricas de consulta de ventas	2023 datos
Tiempo promedio de interacción con el cliente	47 minutos
Tasa de conversión de ventas	62.3%
Puntuación de satisfacción del cliente	4.7/5

Soporte de servicio en línea y en persona

Onewater Marine proporciona atención al cliente multicanal a través de:

• Centros de servicio dedicados en la tienda
• Portal de soporte en línea 24/7
• Flota de técnicos de servicio móvil

Canal de soporte	Tiempo de respuesta	Volumen de servicio anual
Soporte en la tienda	Dentro de 30 minutos	42,500 interacciones de servicio
Soporte en línea	Dentro de las 4 horas	28,300 solicitudes de soporte digital
Servicio móvil	Dentro de las 24 horas	15,200 reparaciones en el sitio

Programas de fidelización de clientes

El programa de lealtad de Onewater Marine incluye:

• Sistema de recompensas basado en puntos
• Descuentos exclusivos para miembros
• Beneficios anuales de membresía

Métricas del programa de fidelización	2023 estadísticas
Miembros de lealtad total	52,400
Repita la tasa de compra	73.6%
Gasto promedio de miembros	$ 3,750 anualmente

Canales de comunicación digital

Onewater Marine utiliza múltiples plataformas digitales para la participación del cliente.

Canal digital	Usuarios activos mensuales	Tasa de compromiso
Sitio web	215,000	42%
Aplicación móvil	98,500	35%
Plataformas de redes sociales	175,300	28%

Servicio y mantenimiento postventa

Servicios integrales de mantenimiento y garantía en líneas de productos marinos.

Servicio de mantenimiento	Cobertura anual	Tiempo de resolución promedio
Reparaciones de garantía	7.800 unidades	5.2 días
Planes de servicio extendidos	4.500 contratos	3.8 días
Mantenimiento preventivo	12.600 servicios	2.5 días

Onewater Marine Inc. (OneW) - Modelo de negocios: canales

Ubicaciones de concesionario marino físico

A partir de 2024, Onewater Marine opera 87 ubicaciones de concesionarios marinos en 13 estados en los Estados Unidos. La red de concesionarios de la compañía abarca las siguientes regiones:

Región	Número de ubicaciones
Sudeste	42
Nordeste	22
Suroeste	15
Medio oeste	8

Sitio web de la empresa y plataforma de ventas en línea

La plataforma de ventas digitales de Onewater Marine generó $ 78.2 millones en ingresos en línea en 2023, lo que representa el 12.4% de las ventas totales de la compañía.

• URL del sitio web: www.onewatermarinegroup.com
• Inventario en línea: más de 1,200 buques marinos
• Tráfico mensual promedio del sitio web: 215,000 visitantes únicos

Aplicación móvil para ventas y servicio

La compañía lanzó una aplicación móvil con las siguientes funciones:

Característica	Disponibilidad
Navegación de inventario	Disponible
Programación de servicios	Disponible
Financiamiento digital	Disponible
Descargas de aplicaciones (2023)	42,500

Marketing en redes sociales

Onewater Marine mantiene la presencia activa de las redes sociales en múltiples plataformas:

Plataforma	Seguidores
Instagram	58,300
Facebook	72,500
LinkedIn	15,200

Ferias y eventos marinos

La compañía participa en 24 ferias y eventos comerciales de la industria marina anualmente, con una inversión de marketing estimada de $ 1.2 millones en 2023.

• Los principales eventos incluyen Miami International Boat Show
• Fort Lauderdale International Boat Show
• Show de botes de Atlanta

Onewater Marine Inc. (OneW) - Modelo de negocio: segmentos de clientes

Entusiastas de la navegación recreativa

Según la Asociación Nacional de Fabricantes Marinos (NMMA), 142 millones de estadounidenses participan en la navegación recreativa anualmente. Onewater Marine se dirige a este segmento con características demográficas específicas:

Grupo de edad	Porcentaje de población de navegación
35-54 años	42%
55-64 años	28%
25-34 años	18%

Profesionales de pesca y deportes marinos

El mercado de deportes de pesca y marina de EE. UU. Se valoró en $ 49.8 mil millones en 2022, con segmentos profesionales que representan un potencial de ingresos significativo.

• Profesionales de pesca de torneo
• Atletas de deportes marinos competitivos
• Guías de pesca profesional

Individuos de alto nivel de red

Onewater Marine se dirige a clientes de alto nivel de red neto con ofertas de botes premium:

Soporte de ingresos	Tamaño potencial del mercado
$ 250,000+ ingresos anuales	3.4 millones de hogares
$ 1 millón+ patrimonio neto	1,8 millones de hogares

Negocios de alquiler de botes y chárter

El tamaño del mercado de alquiler marino se estimó en $ 5.2 mil millones en 2022, con un crecimiento proyectado del 6.3% anual.

• Operadores de turismo costero
• Servicios de chárter del lago y río
• Empresas de gestión de eventos corporativos

Equipos marinos y consumidores accesorios

El mercado de accesorios marinos se valoró en $ 17.3 mil millones en 2023, con segmentos clave del consumidor:

Categoría de accesorio	Valor comercial
Equipo de navegación	$ 3.6 mil millones
Equipo de seguridad	$ 2.8 mil millones
Actualizaciones de rendimiento	$ 4.5 mil millones

Onewater Marine Inc. (OneW) - Modelo de negocio: Estructura de costos

Adquisición de inventario

En el año fiscal 2023, Onewater Marine Inc. reportó costos totales de inventario de $ 586.3 millones. La estrategia de adquisición de inventario de la compañía implica:

Categoría de inventario	Costo anual	Porcentaje de gastos de inventario total
Botes marinos	$ 412.5 millones	70.4%
Partes marinas	$ 104.8 millones	17.9%
Accesorios	$ 69.0 millones	11.7%

Gastos operativos del concesionario

Los gastos operativos para los concesionarios de Onewater Marine en 2023 totalizaron $ 157.2 millones, con el siguiente desglose:

• Mantenimiento de la instalación: $ 38.6 millones
• Utilidades: $ 22.4 millones
• Seguro: $ 15.3 millones
• Costos de alquiler y arrendamiento: $ 51.9 millones
• Otros gastos operativos: $ 29.0 millones

Salarios y capacitación de los empleados

Los gastos totales relacionados con el personal para el año fiscal 2023 fueron de $ 214.7 millones:

Categoría de gastos	Cantidad
Salarios base	$ 178.3 millones
Capacitación y desarrollo	$ 9.6 millones
Beneficios y compensación	$ 26.8 millones

Marketing y publicidad

Los gastos de marketing para Onewater Marine en 2023 ascendieron a $ 42.5 millones:

• Marketing digital: $ 18.7 millones
• Publicidad tradicional: $ 12.3 millones
• Patrocinios de eventos: $ 6.5 millones
• Campañas de redes sociales: $ 5.0 millones

Tecnología e infraestructura digital

Las inversiones tecnológicas para el año fiscal 2023 fueron de $ 35.6 millones:

Categoría de tecnología	Monto de la inversión
Infraestructura	$ 15.2 millones
Software y sistemas	$ 12.4 millones
Ciberseguridad	$ 4.8 millones
Desarrollo de plataforma digital	$ 3.2 millones

Onewater Marine Inc. (OneW) - Modelo de negocios: flujos de ingresos

Nuevas ventas de embarcaciones

Para el año fiscal 2023, Onewater Marine reportó nuevos ingresos por ventas de botes de $ 712.3 millones.

Categorías de marca de botes	Ingresos por ventas
Botes recreativos	$ 456.7 millones
Barcos de lujo	$ 255.6 millones

Ventas de botes usadas

Las ventas de botes en tierra generaron $ 189.5 millones en ingresos para el año fiscal 2023.

Categorías de botes usadas	Volumen de ventas	Ganancia
Botes de bombo	2,345 unidades	$ 124.3 millones
Veleros	456 unidades	$ 65.2 millones

Piezas y accesorios marinos

Los ingresos por piezas y accesorios marinos alcanzaron $ 215.6 millones en el año fiscal 2023.

• Partes OEM: $ 132.4 millones
• Accesorios de posventa: $ 83.2 millones

Tarifas de servicio y mantenimiento

Las tarifas de servicio y mantenimiento totalizaron $ 167.8 millones para el año fiscal 2023.

Tipo de servicio	Ganancia
Mantenimiento de rutina	$ 98.5 millones
Reparaciones importantes	$ 69.3 millones

Comisiones de financiamiento y seguros

Las comisiones de financiamiento y seguros generaron $ 45.2 millones en ingresos para el año fiscal 2023.

Tipo de comisión	Ganancia
Comisiones de financiamiento de botes	$ 28.7 millones
Comisiones de seguro marino	$ 16.5 millones

OneWater Marine Inc. (ONEW) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose OneWater Marine Inc. over the highly fragmented competition. It's not just about selling boats; it's about the ecosystem they've built around the premium marine lifestyle, which is reflected in their late 2025 financial performance.

The breadth of their offering is a major draw. OneWater Marine Inc. provides an expansive brand mix, representing over 50 manufacturers across its network. This diversity means they aren't overly reliant on any single boat builder; in fact, no single brand accounted for more than 10% of their sales in the prior fiscal year, giving you flexibility to meet varied customer tastes. This selection helped drive total fiscal year 2025 revenue to $1,872.3 million, with same-store sales growing by 6% for the full year.

The proposition is a true one-stop-shop experience. You start with the sale, move through financing, and then rely on them for the long haul. This integration is key to capturing the full customer lifetime value. The sales side is robust, but the recurring revenue from service is also significant.

Value Proposition Metric	Financial/Statistical Data (FY2025)
Total Fiscal Year Revenue	$1,872.3 million
Full-Year Same-Store Sales Growth	6% increase
Service, Parts & Other Sales Revenue	$295,304 thousand
Service, Parts & Other Sales Growth (YoY)	1.6% increase
Total Inventory (as of Sep 30, 2025)	$539.8 million

Post-sale support is where many smaller dealers fall short, but OneWater Marine Inc. emphasizes this as a core value. Their service, parts, and other sales segment generated $295,304 thousand in revenue for the fiscal year ended September 30, 2025, showing a 1.6% year-over-year increase. This demonstrates a commitment to high-quality maintenance and repair services that keep boats running, which is critical for customer retention in this industry.

Inventory management is a direct reflection of their operational discipline, which translates to better selection for you. They actively manage stock to ensure units are available but not excessive. As of September 30, 2025, total inventory stood at $539.8 million, a reduction from $590.8 million the prior year, reflecting what management called a disciplined inventory management approach, leading to some of the cleanest levels seen in years.

The physical footprint supports the claim of unparalleled customer experience across diverse geographies. You aren't limited to one region; the company operates a wide network designed to capture demand in key boating markets. Here's a quick look at their scale:

• Number of Retail Locations: 95
• States of Operation: 19 different states (as of late 2024)
• Top Performing Quarter (Q4 2025) Same-Store Sales: 23% increase

This geographic spread, combined with a focus on execution, allowed them to post a 21.8% revenue increase in the fourth quarter of 2025 alone, even while the broader industry faced normalization challenges. Finance: review the Q1 2026 inventory targets against the current $539.8 million base by next Tuesday.

OneWater Marine Inc. (ONEW) - Canvas Business Model: Customer Relationships

You're looking at how OneWater Marine Inc. keeps its premium customers engaged across its large retail footprint. The relationships are built on high-value transactions and sustained support.

Personalized, high-touch sales process for premium products

The sales approach focuses on the premium nature of the product, which inherently requires a more consultative, one-on-one interaction. While specific metrics on sales cycle personalization aren't public, the structure supports this. The company owns Denison Yachting, a leading superyacht brokerage, which deals with ultra-high-net-worth individuals, demanding the highest level of personal service. The company also serves as the exclusive U.S. dealer for Sunseeker Yachts (UK). This focus on high-end brands necessitates a personalized sales experience.

Dedicated service and parts support to drive repeat business

Dedicated support is a key driver for recurring revenue, moving beyond the initial boat sale. For the three months ended December 31, 2024 (Fiscal Q1 2025), Service, parts & other revenue was $61,619 thousand. For the three months ended June 30, 2025 (Fiscal Q3 2025), this segment generated $83,007 thousand. Dealership service, parts, & other sales increased in the fourth quarter of fiscal year 2025 compared to the prior year. This segment's performance is critical, even though it saw a 1.1% decrease year-over-year in Q1 2025.

Localized relationship management through unique dealership identities

OneWater Marine Inc. maintains a broad physical presence, allowing for localized customer management. As of late 2025, OneWater operates a total of 95 retail locations across 19 different states. Earlier in the fiscal year, the Dealerships segment included operations of 98 dealerships in 17 states. This network structure allows individual dealerships to maintain local brand recognition while benefiting from the scale of the larger organization. The Dealerships segment represented 92% of revenues for the three and six months ended March 31, 2025.

Long-term engagement through finance and insurance offerings

Finance and insurance (F&I) products are crucial for locking in long-term customer value. In the fiscal first quarter of 2025 (three months ended December 31, 2024), Finance & insurance income grew significantly by 27.7% to $9,400 thousand, up from $7,360 thousand the prior year. Management noted that higher finance and insurance penetration helped offset margin pressure in that quarter. This revenue stream is a direct measure of the depth of the relationship established at the point of sale.

Here's a look at the key financial metrics tied to customer transactions and support for recent periods:

Metric	Fiscal Q4 2025 (Three Months Ended Sept 30, 2025)	Fiscal Q1 2025 (Three Months Ended Dec 31, 2024)	Fiscal Year 2025 (Full Year)
Finance & Insurance Income (in thousands)	$12,774	$9,400	Data not explicitly isolated for full year
Service, Parts & Other Revenue (in thousands)	Data not explicitly isolated for Q4	$61,619	Data not explicitly isolated for full year
Dealership Segment Revenue (as % of Total Revenue)	Implied high percentage from Q4 boat sales growth	Implied high percentage from Q1 boat sales growth	92% (as of 3/31/2025)

Loyalty programs and targeted communication with boating enthusiasts

OneWater Marine Inc. targets boating enthusiasts through its extensive retail network and online marketplaces. The company operates multiple online marketplaces in addition to its physical locations. While specific loyalty program enrollment numbers or direct marketing spend are not detailed in the latest reports, the focus on same-store sales growth, which was 6% for the full fiscal year 2025, suggests successful engagement with the existing customer base. The company anticipates dealership same-store sales to be flat year-over-year for fiscal full year 2026.

You should check the Q4 2025 investor deck for any specific loyalty program details.

OneWater Marine Inc. (ONEW) - Canvas Business Model: Channels

You're looking at how OneWater Marine Inc. gets its product and service offerings in front of the customer, which is a mix of physical presence and digital reach as of late 2025.

The core of the physical channel is the extensive retail footprint. As of the end of fiscal year 2025, OneWater Marine Inc. operated a network anchored by 95 retail locations across the United States. This number saw slight fluctuations during the year, reporting 98 retail locations as of March 31, 2025, and settling at 97 retail locations by June 30, 2025. These dealerships are strategically placed across 19 different states, focusing on high-expenditure marine markets, with a strong presence in the Southeast, Gulf Coast, Mid-Atlantic, and Northeast regions.

The physical channel is supported by a dedicated logistics backbone. The Distribution segment, which handles parts and accessories, operated 9 distribution centers/warehouses as of the third quarter of fiscal 2025, though it was reported as 10 distribution centers / warehouses at the start of the year. This segment represented 8% of revenues for the six months ended March 31, 2025.

The sales structure relies heavily on the physical locations, as the Dealerships segment accounted for 92% of revenues for the six months ended March 31, 2025.

Beyond the brick-and-mortar, OneWater Marine Inc. utilizes several other avenues to connect with customers and drive sales:

• Multiple online marketplaces for sales and parts.
• Boat shows and regional marine events for lead generation.
• Direct sales teams at each retail location handling the final transaction and service upsell.

Here's a quick look at the scale of the physical and distribution network as of the mid-to-late 2025 reporting periods:

Channel Component	Reported Count (Late 2025)	Relevant Financial Context (FY2025)
Retail Locations (Dealerships)	97 (Peak of 98 reported)	Dealerships segment generated 92% of revenue (6 months ended 3/31/25)
Distribution Centers/Warehouses	9 (Reported 10 earlier)	Distribution segment generated 8% of revenue (6 months ended 3/31/25)
Geographic Footprint	19 states	FY2025 Total Revenue: $1.87 billion

The overall performance through these channels in fiscal year 2025 showed resilience, with dealership same-store sales increasing by 6% compared to the prior year. Finance and insurance penetration remained healthy, which is a key component delivered through the direct sales teams at the retail locations.

OneWater Marine Inc. (ONEW) - Canvas Business Model: Customer Segments

You're looking at the core customer base for OneWater Marine Inc. as of their late 2025 reporting. The business model clearly targets several distinct groups, all centered around the premium marine retail experience across their 95 retail locations across the U.S..

The primary engine for growth comes from those buying vessels. This is where the affluent recreational boaters and families come in, driving significant transaction volume. For the full fiscal year 2025, OneWater Marine Inc. saw total revenue hit $1.9 billion. The fourth quarter of 2025 was particularly strong for unit movement, with new boat revenue up 26.7% and pre-owned boat revenue up 24.6% compared to Q4 2024. This suggests a strong appetite among high-net-worth individuals for both new and used inventory, even as the market normalized.

For existing boat owners, the focus is on recurring revenue through after-sales support. This group fuels the service, parts, and other sales segment. For the full fiscal year 2025, this revenue stream was up 1.6% year-over-year. In the fourth quarter alone, this segment saw a 6.7% increase. This is a crucial stabilizing factor, especially when new unit sales face market headwinds; for instance, full-year gross profit margin was 22.8%.

The segment seeking a full-service experience, which includes first-time buyers, is supported by their finance and insurance (F&I) offerings. While the company is a leader in this space, F&I sales remained flat as a percentage of total boat sales for the full fiscal year 2025. This indicates that while the financing component is integral to the transaction for many customers, it didn't expand its relative share of the revenue mix this year.

Here's a quick look at how the revenue drivers performed in the most recent full fiscal year:

Customer-Driven Revenue Stream	FY 2025 Performance Metric	Value/Amount
Total Company Revenue	Full Year 2025 Revenue	$1.87 billion
Affluent Boaters (New/Pre-Owned Units)	Q4 2025 New Boat Revenue Growth (YoY)	26.7%
Affluent Boaters (New/Pre-Owned Units)	Q4 2025 Pre-owned Boat Revenue Growth (YoY)	24.6%
Existing Owners (Parts/Service)	FY 2025 Service, Parts & Other Sales Growth (YoY)	1.6%
Overall Business Health	FY 2025 Adjusted EBITDA	$70 million

The professional and commercial segment is less emphasized, as evidenced by the performance of the Distribution segment, which saw lower sales due to reduced production by boat manufacturers. This suggests that OneWater Marine Inc.'s core focus remains squarely on the retail consumer side, which is where they achieved 6% same-store sales growth for the full year 2025, outpacing the broader industry.

The disciplined inventory management strategy, which saw total inventory drop to $539.8 million as of September 30, 2025, from $590.8 million the prior year, directly supports serving these customer segments by ensuring cleaner stock levels for the premium retail offering.

The key customer-facing metrics for FY2025 were:

• Dealership Same-Store Sales Growth: 6%
• Total Retail Locations: 95
• Total Inventory Reduction: From $590.8 million to $539.8 million
• Adjusted Diluted EPS: $0.44

OneWater Marine Inc. (ONEW) - Canvas Business Model: Cost Structure

You're looking at the expense side of OneWater Marine Inc.'s operations as of late 2025. This is where the revenue gets spent to keep the whole machine running, from buying inventory to paying the people who sell and service the boats.

Cost of Goods Sold (COGS) for boat and inventory procurement represents the single largest cost component. For the full fiscal year 2025, OneWater Marine Inc. reported total revenue of $1,872.3 million and a Gross Profit of $427.0 million. This implies a Cost of Goods Sold for inventory procurement of approximately $1,445.3 million for the year ended September 30, 2025. This figure directly reflects the wholesale cost of new and pre-owned boats acquired for resale, plus associated inventory holding costs before sale.

The overhead supporting the sales and corporate functions is captured in the Selling, General, and Administrative (SG&A) expenses totaling $343.3 million for fiscal year 2025. This total is down slightly as a percentage of revenue compared to the prior year, coming in at 18.3% of revenue for FY 2025. This cost category is broad, so here's what that figure generally covers:

• Personnel costs for sales, service, and corporate staff.
• Advertising and marketing spend to drive traffic.
• Lease costs for non-showroom facilities.
• General administrative overhead like insurance and utilities.

Honestly, personnel costs are a significant chunk of that $343.3 million, but the company reports the aggregate SG&A figure, not the specific salary and wage breakdown.

Financing the inventory and operations requires debt, and the associated costs are material. As of March 31, 2025, OneWater Marine Inc. reported $427.2 million in long-term debt, though the balance was slightly lower at $412.1 million by September 30, 2025. The cost of servicing this debt, particularly the floor plan financing used to hold boat inventory, is tracked closely. For the nine months ended September 30, 2025, the Interest expense - floor plan totaled $28.469 million. Breaking down the interest expense further shows quarterly fluctuations:

Period End Date	Interest Expense - Floor Plan (in thousands)	Interest Expense - Other (in thousands)
June 30, 2025 (Q3)	$7,340	$9,041
September 30, 2025 (Q4)	$6,599	$9,054

The total interest expense for the trailing twelve months ending June 2025 was reported as $343 million in SG&A context, but the specific interest line items are more precise for debt servicing.

Real estate and facility operating costs are tied to the physical footprint. As of early 2025 announcements, OneWater Marine Inc. operated a total of 98 retail locations across 19 states, which is slightly more than the 95 locations mentioned in your outline. These facilities require ongoing expenditure for leases, maintenance, and utilities, which are generally absorbed within the SG&A structure, but they represent a fixed cost base that must be covered regardless of sales volume. It's a major fixed cost you have to account for when the market gets tough.

Finance: draft 13-week cash view by Friday.

OneWater Marine Inc. (ONEW) - Canvas Business Model: Revenue Streams

You're looking at the core ways OneWater Marine Inc. brings in cash as of late 2025. It's a business built on high-value transactions, supported by recurring service revenue.

The new and pre-owned boat sales are the engine here; they are the primary revenue source, driving the vast majority of the top line. While the market saw headwinds, OneWater Marine Inc. managed to grow total revenue for the fiscal year ended September 30, 2025, to $1.87 billion, which is a 5.6% increase from the prior year. Same-store sales, a key indicator of underlying business health, were up 6% for the full fiscal year 2025, significantly outpacing broader industry trends. This suggests strong execution in moving inventory despite the environment.

To give you a sense of the sales momentum leading into the end of the year, look at the fourth quarter of fiscal 2025:

• New boat revenue saw a 26.7% increase in Q4 2025.
• Pre-owned boat revenue jumped 24.6% in Q4 2025.

That's how you drive a full-year result. It's all about moving boats.

The supporting revenue streams are important for margin stability. Service, parts, and other sales, which include maintenance and repairs, are a crucial component. For the full fiscal year 2025, this segment was up 1.6% compared to the prior year. Also, Finance and Insurance (F&I) product commissions provide a steady, high-margin kicker to the boat sales. For fiscal year 2025, F&I sales remained flat as a percentage of total boat sales, which means they scaled directly with the boat transaction volume.

Here is a snapshot of the key financial outcomes related to these revenue streams for the fiscal year 2025:

Revenue Stream Component	FY2025 Financial Metric/Data Point
Total Revenue	$1,872.3 million
Adjusted EBITDA	$70 million
Service, Parts, & Other Sales Growth (YoY)	Up 1.6%
Finance & Insurance Sales (as % of total boat sales)	Remained flat
Same-Store Sales Growth (YoY)	Increased 6%

Honestly, the fact that Adjusted EBITDA landed at $70 million for the year, even with a gross profit margin of 22.8% reflecting a competitive environment, shows the operating leverage in the business model when sales are moving. Finance: draft 13-week cash view by Friday.