Private company

MARINE PRODUCTS GROUP, LLC

American ship and boat building and repairing company, incorporated in Delaware.

Last updated Oct 18, 2026.

Overview

  • IndustryShip & Boat Building & Repairing
  • HeadquartersDE
  • Incorporated inDE2
  • Business address100 Cherokee Cove Drive, Vonore, Tn 378852
  • Filer categoryAccelerated filer2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

19.1%Gross margin3
5.7%Operating margin3
4.7%Net margin3
3.3%Revenue growth, 20253
9.1%Return on equity3
$14.9MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue80¢$197.6M
  • Selling, general and admin13¢$32.7M
  • Income tax2¢$4.4M
  • Profit5¢$11.4M

Out of $244.4M in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending7¢$1.5M
  • Dividends paid88¢$19.6M
  • Share buybacks5¢$1.1M

Out of $16.5M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.3

Financial statements

Revenue45673$244.4M in 2025−16% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $292.1M$292.1M20192020: $239.8M$239.8M2020−18%2021: $298.0M$298.0M2021+24%2022: $381.0M$381.0M2022+28%2023: $383.7M$383.7M2023+1%2024: $236.6M$236.6M2024−38%2025: $244.4M$244.4M2025+3%
Gross profit45673$46.8M in 2025−28% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $65.4M$65.4M20192020: $53.6M$53.6M2020−18%2021: $68.3M$68.3M2021+27%2022: $93.7M$93.7M2022+37%2023: $90.4M$90.4M2023−4%2024: $45.5M$45.5M2024−50%2025: $46.8M$46.8M2025+3%
Operating income45673$14.0M in 2025−59% since 2019
0$20.0M$40.0M$60.0M2019: $34.1M$34.1M20192020: $24.4M$24.4M2020−29%2021: $36.4M$36.4M2021+49%2022: $51.8M$51.8M2022+42%2023: $49.2M$49.2M2023−5%2024: $18.3M$18.3M2024−63%2025: $14.0M$14.0M2025−23%
Net income45673$11.4M in 2025−60% since 2019
0$20.0M$40.0M$60.0M2019: $28.2M$28.2M20192020: $19.4M$19.4M2020−31%2021: $29.0M$29.0M2021+49%2022: $40.3M$40.3M2022+39%2023: $41.7M$41.7M2023+3%2024: $17.9M$17.9M2024−57%2025: $11.4M$11.4M2025−36%
Fiscal year2019202020212022202320242025
Revenue$292.1M4$239.8M5$298.0M6$381.0M7$383.7M3$236.6M3$244.4M3
Cost of revenue$226.7M4$186.2M5$229.7M6$287.3M7$293.4M3$191.1M3$197.6M3
Gross profit$65.4M4$53.6M5$68.3M6$93.7M7$90.4M3$45.5M3$46.8M3
Research and development
Selling, general and admin$31.3M4$29.2M5$31.9M6$41.9M7$43.2M3$27.4M3$32.7M3
Operating income$34.1M4$24.4M5$36.4M6$51.8M7$49.2M3$18.3M3$14.0M3
Income tax$6.2M4$5.0M5$7.4M6$11.8M7$10.4M3$3.3M3$4.4M3
Net income$28.2M4$19.4M5$29.0M6$40.3M7$41.7M3$17.9M3$11.4M3
Earnings per share$0.834$0.575$0.856$1.187$1.213$0.503$0.323
Earnings per share (diluted)$0.834$0.575$0.856$1.187$1.213$0.503$0.323

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Leadership

Who has led MARINE PRODUCTS GROUP, LLC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Richard A. Hubbell2006–2022
  2. Gary W. Rollins2020–2021
  3. Ben M. Palmer2022–now

Chair

  1. R. Randall Rollins2006–2020
  2. Gary W. Rollins2021
  3. Richard A. Hubbell2022–now

President

  1. Richard A. Hubbell2006–2022
  2. Ben M. Palmer2022–now

Chief financial officer

  1. Ben M. Palmer2006–2022
  2. Michael Schmit2022–now
2010201520202025
Board members and other officers (19)

Former names

  • MARINE PRODUCTS CORPDec 8, 2000 to May 15, 20262

Timeline

  1. May 19, 2022New chief executive Ben M. Palmer becomes CEO12
  2. Jul 2, 2020New chief executive Gary W. Rollins becomes CEO13
  3. Jan 17, 2006New chief executive Richard A. Hubbell becomes CEO14

Filings

251 filings to the SEC since October 2021: 6 annual reports, 14 quarterly reports, 61 major events, 120 insider forms, 5 large holders, 45 other. The latest 20:

  1. May 26, 202615-12G EDGAR
  2. May 19, 20264 EDGAR
  3. May 19, 20264 EDGAR
  4. May 19, 20264 EDGAR
  5. May 19, 20264 EDGAR
  6. May 19, 20264 EDGAR
  7. May 19, 20264 EDGAR
  8. May 19, 20264 EDGAR
  9. May 19, 20264 EDGAR
  10. May 19, 20264 EDGAR
  11. May 19, 20264 OWNERSHIP DOCUMENT EDGAR
  12. May 19, 20264 OWNERSHIP DOCUMENT EDGAR
  13. May 19, 20264 OWNERSHIP DOCUMENT EDGAR
  14. May 19, 20264 OWNERSHIP DOCUMENT EDGAR
  15. May 19, 20264 OWNERSHIP DOCUMENT EDGAR
  16. May 19, 20264 OWNERSHIP DOCUMENT EDGAR
  17. May 19, 20264 OWNERSHIP DOCUMENT EDGAR
  18. May 19, 20264 OWNERSHIP DOCUMENT EDGAR
  19. May 19, 20264 OWNERSHIP DOCUMENT EDGAR
  20. May 19, 20264 OWNERSHIP DOCUMENT EDGAR

The 251 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 5 such filings since October 2021:

  1. May 19, 2026SCHEDULE 13D/A
  2. Mar 13, 2026SCHEDULE 13D/A
  3. Feb 6, 2026SCHEDULE 13D/A
  4. Mar 3, 2025SCHEDULE 13D/A
  5. Dec 5, 2022SC 13D/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

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