Ferrellgas Partners LP

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FGP : NYSE : Basic Materials
$6.71 up 0.78 | 13.0%
Today's Range: 6.05 - 6.95
Avg. Daily Volume: 1073800.0
12/08/16 - 3:59 PM ET

Financial Analysis


FERRELLGAS PARTNERS -LP's gross profit margin for the fourth quarter of its fiscal year 2016 has significantly increased 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. FERRELLGAS PARTNERS -LP has very weak liquidity. Currently, the Quick Ratio is 0.45 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 417.56% 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 Q4 FY16 Q4 FY15
Net Sales ($mil)409.51382.51
EBITDA ($mil)39.4614.34
EBIT ($mil)1.64-13.67
Net Income ($mil)-661.43-58.78


Balance Sheet Q4 FY16 Q4 FY15
Cash & Equiv. ($mil)13.2225.66
Total Assets ($mil)1683.312464.06
Total Debt ($mil)2110.551953.36
Equity ($mil)-647.06203.75


Profitability Q4 FY16 Q4 FY15
Gross Profit Margin17.1111.87
EBITDA Margin9.633.74
Operating Margin0.4-3.57
Sales Turnover1.210.82
Return on Assets-39.531.2
Return on Equity0.014.53
Debt Q4 FY16 Q4 FY15
Current Ratio0.790.89
Debt/Capital1.440.91
Interest Expense35.0528.6
Interest Coverage0.05-0.48


Share Data Q4 FY16 Q4 FY15
Shares outstanding (mil)98.0100.38
Div / share0.510.5
EPS-6.68-0.64
Book value / share-6.62.03
Institutional Own % n/a n/a
Avg Daily Volume983957.0276836.0

Valuation


SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. Along with this, the price-to-book ratio is also meaningless due to a negative book value for the company, making any comparisons useless. The price-to-sales ratio is well below both the S&P 500 average and 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
FGP NM Peers 28.70   FGP 2.85 Peers 9.79

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.

 

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.

FGP is trading at a significant 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
FGP 20.18 Peers 20.79   FGP NA Peers 3.67

Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings.

FGP's ratio is negative making this valuation measure meaningless.

 

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 NM Peers 2.49   FGP -2492.85 Peers -15.32

Neutral. 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.

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

 

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 0.27 Peers 1.96   FGP 0.73 Peers -15.51

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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