Ferrellgas Partners LP

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FGP : NYSE : Basic Materials
$20.25 up 0.18 | 0.90%
Today's Range: 20.01 - 20.35
Avg. Daily Volume: 296,700
08/29/16 - 4:02 PM ET

Financial Analysis


FERRELLGAS PARTNERS -LP's gross profit margin for the third quarter of its fiscal year 2016 has increased when compared to the same period a year ago. Sales and net income have dropped, although the growth in revenues underperformed the average competitor within the industry, the net income growth did not. FERRELLGAS PARTNERS -LP has weak liquidity. Currently, the Quick Ratio is 0.64 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 149.13% 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 Q3 FY16 Q3 FY15
Net Sales ($mil)509.47532.55
EBITDA ($mil)98.3686.05
EBIT ($mil)60.0162.72
Net Income ($mil)18.6935.81


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)14.3723.95
Total Assets ($mil)2372.851592.86
Total Debt ($mil)2046.41461.39
Equity ($mil)51.2-104.2


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin25.320.99
EBITDA Margin19.316.15
Operating Margin11.7811.78
Sales Turnover0.851.28
Return on Assets-2.642.54
Return on Equity-122.560.0
Debt Q3 FY16 Q3 FY15
Current Ratio0.991.07
Debt/Capital0.981.08
Interest Expense34.3723.51
Interest Coverage1.752.67


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)98.082.72
Div / share0.510.5
EPS0.190.43
Book value / share0.52-1.26
Institutional Own % n/a n/a
Avg Daily Volume298915.0296442.0

Valuation


HOLD. 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. For additional comparison, its price-to-book ratio of 38.40 indicates a significant premium versus the S&P 500 average of 2.82 and a significant premium versus the industry average of 3.75. 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 35.59   FGP 10.50 Peers 10.91

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 50.15 Peers 24.70   FGP NA Peers 2.20

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 38.40 Peers 3.75   FGP -294.11 Peers -24.75

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 0.98 Peers 2.31   FGP -1.40 Peers -16.20

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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