Onewater Marine Inc. (ONEW): Canvas du modèle d'entreprise [Jan-2025 Mise à jour]

Plongez dans le plan stratégique de Onewater Marine Inc. (ONEW), une puissance de l'industrie de la vente au détail et des services marins qui a magistralement conçu un modèle commercial complet. En intégrant parfaitement les ventes de bateaux, le service, le financement et l'expérience client à travers 170+ Les emplacements à l'échelle nationale, Onewater a transformé le marché marin traditionnel en un écosystème dynamique et centré sur le client. Cette toile de modèle commercial révèle comment l'entreprise navigue sur les eaux du marché complexes, offrant une valeur inégalée aux amateurs de navigation de navigation, aux professionnels et aux parties prenantes de l'industrie marine grâce à des stratégies innovantes et à des cadres opérationnels robustes.

Onewater Marine Inc. (ONEW) - Modèle d'entreprise: partenariats clés

Partenariats des fabricants de bateaux

Onewater Marine maintient des partenariats stratégiques avec les principaux fabricants de bateaux:

Fabricant	Détails du partenariat	Part de marché
Boston Whaler	Réseau de concessionnaires primaire	37% des ventes de bateaux
Yamaha	Distribution des moteurs hors-bord	22% des ventes de moteurs marins
Mercure Marine	Partenariat complet de propulsion marine	28% du marché des moteurs marins

Réseau de concessionnaires marins

Onewater Marine opère dans plusieurs États avec une grande présence de concessionnaires:

• Emplacements totaux de concessionnaires: 87 dans 13 États
• Couverture géographique: régions du sud-est et de la côte du golfe
• Revenus de concessionnaires annuels: 687,3 millions de dollars (2023)

Partenariats des institutions financières

Partenaire financier	Focus de partenariat	Volume de prêt
Wells Fargo	Financement des navires marins	214 millions de dollars de prêts marins annuels
Banque d'Amérique	Crédit marin des consommateurs	176 millions de lignes de crédit marins

Collaborations des assureurs

• Assurance progressive: partenaire d'assurance maritime primaire
• Geico Marine Assurance: fournisseur de couverture secondaire
• Total des polices d'assurance maritime traitées: 42 500 par an

Fournisseurs de pièces et d'accessoires marins

Fournisseur	Catégorie de produits	Valeur de l'offre annuelle
Great Marine Parts Inc.	Composants de remplacement	45,6 millions de dollars
Entrepôt d'accessoires marins	Équipement de rechange	38,2 millions de dollars

Onewater Marine Inc. (ONEW) - Modèle d'entreprise: activités clés

Ventes et distribution de bateaux marins

Au cours de l'exercice 2023, Onewater Marine a déclaré un chiffre d'affaires total de ventes de bateaux de 1,46 milliard de dollars. La société représente plusieurs marques de bateaux dans 75 emplacements de vente au détail dans 14 États.

Métrique	Valeur
Revenu total des ventes de bateaux	1,46 milliard de dollars (FY 2023)
Lieux de vente au détail	75 emplacements
Couverture géographique	14 États

Service et maintenance des navires marins

Onewater Marine génère des revenus importants des opérations de service et de maintenance, avec des centres de services dédiés à travers leur réseau de vente au détail.

• Revenus du service des services moyens par emplacement: 1,2 million de dollars par an
• Techniciens de service: environ 500 techniciens marins certifiés
• Valeur de bon de travail du service moyen: 850 $

Courtage de bateaux et consignation

La société exploite une plate-forme de courtage de bateaux complète avec des canaux de vente de navires d'occasion spécialisés.

Métrique de courtage	Valeur
Volume de vente de bateaux d'occasion	Environ 1 200 navires par an
Valeur moyenne d'occasion d'occasion	$85,000

Pièces marines et accessoires

Les pièces et accessoires représentent une source de revenus critique pour Onewater Marine.

• Revenus de pièces et d'accessoires: 127 millions de dollars au cours de l'exercice 2023
• Valeur des stocks: environ 38 millions de dollars en pièces de pièces
• Marge des pièces moyennes: 35-40%

Financement des clients et services d'assurance

Onewater Marine fournit des solutions de financement et d'assurance intégrées pour les clients marins.

Financement de la métrique	Valeur
Ventes financées totales	942 millions de dollars (FY 2023)
Montant moyen du prêt	$62,500
Produits d'assurance offerts	8 ensembles d'assurance maritime différents

Onewater Marine Inc. (ONEW) - Modèle d'entreprise: Ressources clés

Réseau étendu de concessionnaires marins

Depuis le quatrième trimestre 2023, Onewater Marine exploite 87 emplacements de concessionnaires dans 13 États aux États-Unis.

Région géographique	Nombre de concessionnaires
Du sud-est des États-Unis	52
Nord-Est des États-Unis	18
Côte ouest	17

Techniciens marins qualifiés et personnel de service

Onewater Marine emploie environ 1 200 techniciens et personnel de service en 2023.

• Taux de certification des techniciens moyens: 92%
• Années moyennes d'expérience par technicien: 8,5 ans
• Heures de formation annuelles par technicien: 40 heures

Systèmes de gestion des stocks robustes

Valeur d'inventaire totale au 30 septembre 2023: 347,8 millions de dollars.

Catégorie d'inventaire	Valeur
Nouveaux bateaux	215,6 millions de dollars
Bateaux d'occasion	82,4 millions de dollars
Pièces et accessoires	49,8 millions de dollars

Des relations de marque solides avec les fabricants

Onewater Marine représente 16 principales marques marines à travers son réseau de concessionnaires.

• Top fabricants: Boston Whaler, Yamaha, Mercury Marine, Sea Ray
• Durée moyenne du fabricant: 12,3 ans

Plateformes de vente et de service numériques

Métriques de plate-forme numérique pour l'exercice 2023:

• Pourcentage de vente en ligne: 22% du total des revenus
• Téléchargements d'applications mobiles: 78 000
• Taux de réservation de services numériques: 65% du total des rendez-vous de service

Métrique de la plate-forme numérique	Valeur 2023
Visiteurs mensuels du site Web	425,000
Vues d'inventaire en ligne	1,2 million
Taux d'engagement client numérique	38%

Onewater Marine Inc. (ONEW) - Modèle d'entreprise: propositions de valeur

Expérience complète de vente au détail et de service maritime

Onewater Marine Inc. exploite 87 sites de vente au détail dans 13 États à partir de l'exercice 2023. La société a généré 1,47 milliard de dollars de revenus totaux pour l'exercice se terminant le 30 septembre 2023.

Catégorie de service	Nombre d'emplacements	Couverture géographique
Magasins de vente au détail maritime	87	13 États américains
Centres de service	62	Régions d'État multiples

Large sélection de bateaux nouveaux et d'occasion

Au cours de l'exercice 2023, Onewater Marine a vendu 6 257 nouveaux bateaux et 2 413 bateaux d'occasion, ce qui représente un volume total de ventes de bateaux de 8 670 unités.

• Nouvelles marques de bateau représentées: 24
• Inventaire des bateaux d'occasion: environ 500 à 600 unités
• Gamme de prix du bateau moyen: 35 000 $ - 250 000 $

Soutien technique et maintenance experts

Onewater Marine emploie Plus de 650 techniciens de service marin Dans son réseau de centres de service.

Métrique de service	Performance annuelle
Commandes de service total	42,300
Temps de réparation des services moyen	3,2 jours

Solutions de financement et d'assurance pratiques

Onewater Marine propose plusieurs options de financement grâce à des partenariats avec les institutions de prêt maritime.

• Options de financement internes disponibles
• Offres de produits d'assurance maritime multiples
• Montant moyen du prêt: 68 500 $

Présence à l'échelle nationale avec un service client localisé

Onewater Marine maintient une empreinte géographique stratégique avec une concentration dans le sud-est et le sud-ouest des États-Unis.

Région	Nombre d'emplacements	Estimation de la part de marché
Au sud-est	47	35%
Sud-ouest	22	25%
Autres régions	18	15%

Onewater Marine Inc. (ONEW) - Modèle d'entreprise: relations avec les clients

Consultations de vente personnelle

Depuis 2023, Onewater Marine exploite 87 emplacements de vente au détail dans 13 États. L'entreprise emploie environ 1 200 professionnels des ventes spécialisés dans la vente au détail et les services marins.

Métriques de consultation des ventes	2023 données
Temps d'interaction du client moyen	47 minutes
Taux de conversion des ventes	62.3%
Score de satisfaction du client	4.7/5

Assistance de service en ligne et en personne

Onewater Marine fournit un support client multicanal à travers:

• Centres de services en magasin dédiés
• Portail d'assistance en ligne 24/7
• Flotte de techniciens de service mobile

Canal de support	Temps de réponse	Volume de services annuel
Support en magasin	Dans les 30 minutes	42 500 interactions de service
Assistance en ligne	Dans les 4 heures	28 300 demandes de support numérique
Service mobile	Dans les 24 heures	15 200 réparations sur place

Programmes de fidélisation de la clientèle

Le programme de fidélité de Onewater Marine comprend:

• Système de récompenses basé sur des points
• Remises exclusives des membres
• Avantages annuels d'adhésion

Métriques du programme de fidélité	2023 statistiques
Membres de la fidélité totale	52,400
Taux d'achat répété	73.6%
Dépenses moyennes des membres	3 750 $ par an

Canaux de communication numériques

Onewater Marine utilise plusieurs plateformes numériques pour l'engagement des clients.

Canal numérique	Utilisateurs actifs mensuels	Taux d'engagement
Site web	215,000	42%
Application mobile	98,500	35%
Plateformes de médias sociaux	175,300	28%

Service après-vente et maintenance

Services de maintenance et de garantie complets sur les gammes de produits marins.

Service de maintenance	Couverture annuelle	Temps de résolution moyen
Réparations de garantie	7 800 unités	5,2 jours
Plans de services prolongés	4 500 contrats	3,8 jours
Entretien préventif	12 600 services	2,5 jours

Onewater Marine Inc. (ONEW) - Modèle d'entreprise: canaux

Lieux de concessionnaires marins physiques

En 2024, Onewater Marine exploite 87 sites de concessionnaires marins dans 13 États aux États-Unis. Le réseau de concessionnaires de la société couvre les régions suivantes:

Région	Nombre d'emplacements
Au sud-est	42
Nord-est	22
Sud-ouest	15
Midwest	8

Site Web de l'entreprise et plateforme de vente en ligne

La plate-forme de vente numérique de Onewater Marine a généré 78,2 millions de dollars de revenus en ligne en 2023, ce qui représente 12,4% du total des ventes d'entreprises.

• URL du site Web: www.onewatermarinegroup.com
• Inventaire en ligne: 1 200+ navires marins
• Trajet mensuel moyen du site Web: 215 000 visiteurs uniques

Application mobile pour les ventes et les services

La société a lancé une application mobile avec les fonctionnalités suivantes:

Fonctionnalité	Disponibilité
Navigation d'inventaire	Disponible
Planification des services	Disponible
Financement numérique	Disponible
Téléchargements d'applications (2023)	42,500

Marketing des médias sociaux

Onewater Marine maintient une présence active sur les réseaux sociaux sur plusieurs plateformes:

Plate-forme	Abonnés
Instagram	58,300
Facebook	72,500
Liendin	15,200

Salons commerciaux et événements marins

La société participe à 24 salons et événements de l'industrie maritime par an, avec un investissement marketing estimé à 1,2 million de dollars en 2023.

• Les événements majeurs incluent le salon nautique international de Miami
• Salon nautique international de Fort Lauderdale
• Salon nautique d'Atlanta

Onewater Marine Inc. (ONEW) - Modèle d'entreprise: segments de clientèle

Antactifs de navigation récréative

Selon la National Marine Manufacturers Association (NMMA), 142 millions d'Américains participent chaque année à la navigation de plaisance récréative. Onewater Marine cible ce segment avec des caractéristiques démographiques spécifiques:

Groupe d'âge	Pourcentage de la population de navigation
35 à 54 ans	42%
55 à 64 ans	28%
25-34 ans	18%

Professionnels de pêche et de sport marin

Le marché américain de la pêche et des sports marins était évalué à 49,8 milliards de dollars en 2022, les segments professionnels représentant un potentiel de revenus important.

• Professionnels de la pêche au tournoi
• Athlètes de sports marins compétitifs
• Guides de pêche professionnelles

Individus à haute nette

Onewater Marine cible les clients à haute nette avec des offres de bateaux premium:

Tranche de revenu	Taille du marché potentiel
250 000 $ + revenu annuel	3,4 millions de ménages
1 million de dollars + valeur nette	1,8 million de ménages

Business de location de bateaux et charter

La taille du marché de la location marine était estimée à 5,2 milliards de dollars en 2022, avec une croissance projetée de 6,3% par an.

• Opérateurs touristiques côtiers
• Services à charte sur le lac et la rivière
• Sociétés de gestion d'événements d'entreprise

Équipements marins et consommateurs d'accessoires

Le marché des accessoires marins était évalué à 17,3 milliards de dollars en 2023, avec des segments de consommation clés:

Catégorie accessoire	Valeur marchande
Équipement de navigation	3,6 milliards de dollars
Équipement de sécurité	2,8 milliards de dollars
Mises à niveau des performances	4,5 milliards de dollars

Onewater Marine Inc. (ONEW) - Modèle d'entreprise: Structure des coûts

Marchandage des stocks

Au cours de l'exercice 2023, Onewater Marine Inc. a déclaré des coûts d'inventaire total de 586,3 millions de dollars. La stratégie d'approvisionnement des stocks de l'entreprise implique:

Catégorie d'inventaire	Coût annuel	Pourcentage des dépenses d'inventaire total
Bateaux marins	412,5 millions de dollars	70.4%
Parties marines	104,8 millions de dollars	17.9%
Accessoires	69,0 millions de dollars	11.7%

Dépenses opérationnelles de concession

Les dépenses opérationnelles des concessionnaires de Onewater Marine en 2023 ont totalisé 157,2 millions de dollars, avec la rupture suivante:

• Entretien des installations: 38,6 millions de dollars
• Utilitaires: 22,4 millions de dollars
• Assurance: 15,3 millions de dollars
• Coûts de location et de location: 51,9 millions de dollars
• Autres dépenses opérationnelles: 29,0 millions de dollars

Salaires et formation des employés

Les dépenses totales liées au personnel pour l'exercice 2023 étaient de 214,7 millions de dollars:

Catégorie de dépenses	Montant
Salaires de base	178,3 millions de dollars
Formation et développement	9,6 millions de dollars
Avantages et compensation	26,8 millions de dollars

Marketing et publicité

Les dépenses de marketing pour Onewater Marine en 2023 s'élevaient à 42,5 millions de dollars:

• Marketing numérique: 18,7 millions de dollars
• Publicité traditionnelle: 12,3 millions de dollars
• Sponsorations d'événements: 6,5 millions de dollars
• Campagnes de médias sociaux: 5,0 millions de dollars

Technologie et infrastructure numérique

Les investissements technologiques pour l'exercice 2023 étaient de 35,6 millions de dollars:

Catégorie de technologie	Montant d'investissement
Infrastructure informatique	15,2 millions de dollars
Logiciels et systèmes	12,4 millions de dollars
Cybersécurité	4,8 millions de dollars
Développement de plate-forme numérique	3,2 millions de dollars

Onewater Marine Inc. (ONEW) - Modèle d'entreprise: Strots de revenus

Nouvelles ventes de bateaux

Pour l'exercice 2023, Onewater Marine a déclaré un nouveau chiffre d'affaires de vente de bateaux de 712,3 millions de dollars.

Catégories de marque de bateau	Revenus de vente
Bateaux récréatifs	456,7 millions de dollars
Bateaux de luxe	255,6 millions de dollars

Ventes de bateaux d'occasion

Les ventes de bateaux d'occasion ont généré 189,5 millions de dollars de revenus pour l'exercice 2023.

Catégories de bateaux d'occasion	Volume des ventes	Revenu
Powerboats	2 345 unités	124,3 millions de dollars
Voiliers	456 unités	65,2 millions de dollars

Pièces marines et accessoires

Les revenus des pièces marines et accessoires ont atteint 215,6 millions de dollars au cours de l'exercice 2023.

• Pièces OEM: 132,4 millions de dollars
• Accessoires de rechange: 83,2 millions de dollars

Frais de service et de maintenance

Les frais de service et de maintenance ont totalisé 167,8 millions de dollars pour l'exercice 2023.

Type de service	Revenu
Maintenance de routine	98,5 millions de dollars
Réparations majeures	69,3 millions de dollars

Financement et commissions d'assurance

Les commissions de financement et d'assurance ont généré 45,2 millions de dollars de revenus pour l'exercice 2023.

Type de commission	Revenu
Commissions de financement des bateaux	28,7 millions de dollars
Commissions d'assurance maritime	16,5 millions de dollars

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.