AmeriGas Partners LP

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APU : NYSE : Utilities
$48.75 | %
Today's Range: 48.45 - 48.79
Avg. Daily Volume: 256,300
07/22/16 - 4:02 PM ET

Financial Analysis


AMERIGAS PARTNERS -LP's gross profit margin for the second quarter of its fiscal year 2016 has increased when compared to the same period a year ago. Sales and net income have dropped, underperforming the average competitor within its industry. AMERIGAS PARTNERS -LP has weak liquidity. Currently, the Quick Ratio is 0.60 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.

During the same period, stockholders' equity ("net worth") has decreased by 8.97% 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 ($mil)827.491100.32
EBITDA ($mil)328.98411.21
EBIT ($mil)282.75364.29
Net Income ($mil)245.91326.06


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)15.7421.39
Total Assets ($mil)4187.724406.62
Total Debt ($mil)2347.532345.08
Equity ($mil)1301.241429.59


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin68.5860.76
EBITDA Margin39.7537.37
Operating Margin34.1733.11
Sales Turnover0.570.72
Return on Assets6.04.56
Return on Equity19.3314.08
Debt Q2 FY16 Q2 FY15
Current Ratio0.941.1
Debt/Capital0.640.62
Interest Expense40.8141.1
Interest Coverage6.938.86


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)92.9292.89
Div / share0.920.88
EPS1.742.17
Book value / share14.015.39
Institutional Own % n/a n/a
Avg Daily Volume258451.0268552.0

Valuation


BUY. AMERIGAS PARTNERS -LP's P/E ratio indicates a premium compared to an average of 27.66 for the Gas Utilities industry and a premium compared to the S&P 500 average of 25.03. To use another comparison, its price-to-book ratio of 3.39 indicates a premium versus the S&P 500 average of 2.80 and a discount versus the industry average of 3.62. The current price-to-sales ratio is similar to the S&P 500 average, but it is below the industry average, indicating a discount.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
APU 31.26 Peers 27.66   APU 8.78 Peers 10.12

Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations.

APU is trading at a premium to its peers.

 

Discount. 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.

APU is trading at a discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
APU 17.15 Peers 27.35   APU 1.66 Peers 2.48

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

APU is trading at a discount to its peers.

 

Discount. 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.

APU trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
APU 3.39 Peers 3.62   APU 141.26 Peers -36.71

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

APU is trading at a valuation on par with its peers.

 

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

APU is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
APU 1.86 Peers 2.30   APU -25.14 Peers -17.09

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.

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

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

APU significantly trails its peers on the basis of sales growth

 

 

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