Martin Midstream Partners LP

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MMLP : NASDAQ : Basic Materials
$16.45 up 0.45 | 2.81%
Today's Range: 15.9 - 17.15
Avg. Daily Volume: 175000.0
12/02/16 - 4:00 PM ET

Financial Analysis


MARTIN MIDSTREAM 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. MARTIN MIDSTREAM PARTNERS LP has very weak liquidity. Currently, the Quick Ratio is 0.48 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 25.89% 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 FY16 Q3 FY15
Net Sales ($mil)174.54226.02
EBITDA ($mil)31.2936.96
EBIT ($mil)9.1613.62
Net Income ($mil)-0.933.33


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)0.010.01
Total Assets ($mil)1340.341401.44
Total Debt ($mil)913.5876.41
Equity ($mil)310.91419.57


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin45.1640.23
EBITDA Margin17.9216.35
Operating Margin5.256.03
Sales Turnover0.630.83
Return on Assets1.532.56
Return on Equity6.628.81
Debt Q3 FY16 Q3 FY15
Current Ratio2.111.7
Debt/Capital0.750.68
Interest Expense12.5812.99
Interest Coverage0.731.05


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)35.4635.46
Div / share0.810.81
EPS-0.03-0.02
Book value / share8.7711.83
Institutional Own % n/a n/a
Avg Daily Volume171590.0186922.0

Valuation


HOLD. MARTIN MIDSTREAM PARTNERS LP's P/E ratio indicates a significant premium compared to an average of 38.75 for the Oil, Gas & Consumable Fuels industry and a significant premium compared to the S&P 500 average of 25.16. To use another comparison, its price-to-book ratio of 1.99 indicates a discount versus the S&P 500 average of 2.79 and a significant discount versus the industry average of 20.54. 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
MMLP 72.71 Peers 38.75   MMLP 4.71 Peers 12.67

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

MMLP is trading at a significant premium to its peers.

 

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.

MMLP 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
MMLP 22.09 Peers 44.30   MMLP NM Peers 0.47

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

MMLP 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.

MMLP'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
MMLP 1.99 Peers 20.54   MMLP -64.71 Peers -239.55

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.

MMLP is trading at a significant discount to its peers.

 

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

MMLP is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MMLP 0.73 Peers 2.56   MMLP -27.14 Peers -20.64

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.

MMLP 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.

MMLP significantly trails its peers on the basis of sales growth

 

 

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