AmeriGas Partners LP

Find Ratings Reports
APU : NYSE : Utilities
$43.0 | %
Today's Range: 0.0 - 0.0
Avg. Daily Volume: 165700.0
09/21/17 - 4:00 PM ET

Financial Analysis


AMERIGAS PARTNERS -LP's gross profit margin for the third quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line. AMERIGAS PARTNERS -LP has very weak liquidity. Currently, the Quick Ratio is 0.49 which clearly 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 significantly decreased by 25.91% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q3 FY17 Q3 FY16
Net Sales ($mil)467.5446.68
EBITDA ($mil)41.0285.38
EBIT ($mil)-3.9340.16
Net Income ($mil)-46.75-33.07


Balance Sheet Q3 FY17 Q3 FY16
Cash & Equiv. ($mil)4.71307.66
Total Assets ($mil)4037.974397.24
Total Debt ($mil)2654.832729.49
Equity ($mil)866.551169.65


Profitability Q3 FY17 Q3 FY16
Gross Profit Margin56.2367.73
EBITDA Margin8.7719.11
Operating Margin-0.848.99
Sales Turnover0.590.53
Return on Assets2.315.55
Return on Equity10.7820.87
Debt Q3 FY17 Q3 FY16
Current Ratio0.840.89
Debt/Capital0.750.7
Interest Expense40.5840.84
Interest Coverage-0.10.98


Share Data Q3 FY17 Q3 FY16
Shares outstanding (mil)92.9692.92
Div / share0.950.94
EPS-0.62-0.46
Book value / share9.3212.59
Institutional Own % n/a n/a
Avg Daily Volume169950.0179988.0

Valuation


HOLD. AMERIGAS PARTNERS -LP's P/E ratio indicates a significant premium compared to an average of 32.43 for the Gas Utilities industry and a significant premium compared to the S&P 500 average of 24.88. For additional comparison, its price-to-book ratio of 4.70 indicates a significant premium versus the S&P 500 average of 3.10 and a significant premium versus the industry average of 2.64. The price-to-sales ratio is below both the S&P 500 average and the industry average, indicating a discount. After reviewing these and other key valuation criteria, AMERIGAS 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
APU 125.09 Peers 32.43   APU 11.66 Peers 11.57

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

APU is trading at a significant premium to its peers.

 

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.

APU 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
APU 15.52 Peers 26.12   APU NM Peers 2.95

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

APU is trading at a significant premium to its peers.

 

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.

APU's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
APU 4.70 Peers 2.64   APU -75.53 Peers 16.07

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.

APU 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, APU 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
APU 1.69 Peers 2.16   APU 2.79 Peers 9.83

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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