Global Partners LP

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GLP : NYSE : Services
$19.25 -0.15 | -0.77%
Today's Range: 18.95 - 19.4
Avg. Daily Volume: 97200.0
02/24/17 - 3:59 PM ET

Financial Analysis


GLOBAL 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, underperforming the average competitor within its industry. GLOBAL PARTNERS LP has weak liquidity. Currently, the Quick Ratio is 0.55 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 29.59% 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 ($mil)2030.22486.2
EBITDA ($mil)51.5861.1
EBIT ($mil)23.0630.29
Net Income ($mil)-119.558.21


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)33.6226.43
Total Assets ($mil)2384.522714.74
Total Debt ($mil)1309.681276.65
Equity ($mil)472.16670.68


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin7.837.27
EBITDA Margin2.542.45
Operating Margin1.141.22
Sales Turnover3.44.3
Return on Assets-5.712.71
Return on Equity-28.8310.99
Debt Q3 FY16 Q3 FY15
Current Ratio1.481.51
Debt/Capital0.740.66
Interest Expense21.220.64
Interest Coverage1.091.47


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)33.5333.5
Div / share0.460.69
EPS-3.540.16
Book value / share14.0820.02
Institutional Own % n/a n/a
Avg Daily Volume96432.099375.0

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. To use another comparison, its price-to-book ratio of 1.44 indicates a discount versus the S&P 500 average of 2.94 and a significant discount versus the industry average of 32.24. 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 146.60   GLP 8.27 Peers 12.63

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 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
GLP 202.50 Peers 35.50   GLP NA Peers 2.02

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.

GLP'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
GLP 1.44 Peers 32.24   GLP -287.03 Peers -20.00

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 0.08 Peers 2.73   GLP -30.67 Peers -12.86

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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