Global Partners LP

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GLP : NYSE : Services
$17.7 up 0.25 | 1.4%
Today's Range: 17.2268 - 18.2
Avg. Daily Volume: 78100.0
06/23/17 - 2:49 PM ET

Financial Analysis


GLOBAL PARTNERS LP's gross profit margin for the first quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. Even though it increased sales and net income significantly, the company was unable to grow at a faster pace than its industry competitors. GLOBAL 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 company's liquidity has decreased from the same period last year.

At the same time, stockholders' equity ("net worth") has significantly decreased by 36.06% 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 Q1 FY17 Q1 FY16
Net Sales ($mil)2270.781750.81
EBITDA ($mil)60.1349.0
EBIT ($mil)33.7720.33
Net Income ($mil)22.95-7.02


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)33.0155.92
Total Assets ($mil)2328.332655.44
Total Debt ($mil)1339.871357.36
Equity ($mil)400.56626.54


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin7.238.92
EBITDA Margin2.642.79
Operating Margin1.491.16
Sales Turnover3.763.42
Return on Assets-7.270.23
Return on Equity-42.30.97
Debt Q1 FY17 Q1 FY16
Current Ratio1.481.47
Debt/Capital0.770.68
Interest Expense23.2921.15
Interest Coverage1.450.96


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)33.5533.52
Div / share0.460.46
EPS0.68-0.21
Book value / share11.9418.69
Institutional Own % n/a n/a
Avg Daily Volume79630.095453.0

Valuation


SELL. 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 1.51 indicates a significant discount versus the S&P 500 average of 3.08 and a significant discount versus the industry average of 81.35. 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, GLOBAL PARTNERS LP proves to trade at a discount 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
GLP NM Peers 51.24   GLP 11.79 Peers 14.91

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.

GLP'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.

GLP 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
GLP 35.29 Peers 23.97   GLP NA Peers 0.57

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

GLP is trading at a significant discount 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.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
GLP 1.51 Peers 81.35   GLP -16833.33 Peers 98.97

Discount. 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.

GLP is trading at a significant discount to its peers.

 

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

However, GLP 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
GLP 0.07 Peers 2.16   GLP -3.60 Peers 6.96

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.

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

 

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

GLP significantly trails its peers on the basis of sales growth

 

 

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