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Ferrellgas Partners LP
FGP : NYSE : Basic Materials
$18.74 up0.10 | 0.54%
Today's Range: 18.38 - 18.76
Avg. Daily Volume: 326,200
04/29/16 - 4:02 PM ET

Financial Analysis


FERRELLGAS PARTNERS -LP's gross profit margin for the second quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Sales and net income have dropped, although the growth in net income underperformed the average competitor within the industry, the revenue growth did not. FERRELLGAS PARTNERS -LP has weak liquidity. Currently, the Quick Ratio is 0.56 which shows a lack of ability to cover short-term cash needs. The liquidity decreased from the same period a year ago, despite already having weak liquidity to begin with. This would indicate deteriorating cash flow.

At the same time, stockholders' equity ("net worth") has greatly increased by 140.22% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q2 FY16 Q2 FY15
Net Sales ($mil)649.24665.97
EBITDA ($mil)133.77132.82
EBIT ($mil)96.41108.88
Net Income ($mil)57.1385.46


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)11.7512.36
Total Assets ($mil)2481.481747.04
Total Debt ($mil)2099.991585.89
Equity ($mil)51.72-128.59


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin23.7523.02
EBITDA Margin20.619.94
Operating Margin14.8516.35
Sales Turnover0.821.28
Return on Assets-1.832.87
Return on Equity-88.220.0
Debt Q2 FY16 Q2 FY15
Current Ratio0.870.99
Debt/Capital0.981.09
Interest Expense34.7324.38
Interest Coverage2.784.47


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)98.082.72
Div / share0.510.5
EPS0.580.89
Book value / share0.53-1.55
Institutional Own % n/a n/a
Avg Daily Volume324764.0427714.0

Valuation


HOLD. This stock’s P/E ratio is negative, making its value useless in the assessment of premium or discount valuation, only displaying that the company has negative earnings per share. For additional comparison, its price-to-book ratio of 35.32 indicates a significant premium versus the S&P 500 average of 2.74 and a significant premium versus the industry average of 3.37. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. After reviewing these and other key valuation criteria, FERRELLGAS PARTNERS -LP proves to trade at a premium to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
FGP NM Peers 24.45   FGP 7.74 Peers 7.63

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

FGP's P/E is negative making this valuation measure meaningless.

 

Average. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

FGP is trading at a valuation on par to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
FGP 35.17 Peers 21.47   FGP NA Peers 2.81

Neutral. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth potential.

Ratio not available.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
FGP 35.32 Peers 3.37   FGP -187.50 Peers 31.95

Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

FGP is trading at a significant premium to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, FGP is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
FGP 0.90 Peers 2.01   FGP -8.75 Peers -16.19

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

FGP is trading at a significant discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

FGP has a sales growth rate that significantly exceeds its peers.

 

 

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