Navios Maritime Partners LP

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NMM : NYSE : Services
$1.39 -0.10 | -6.70%
Today's Range: 1.38 - 1.50
Avg. Daily Volume: 390,400
08/31/16 - 3:59 PM ET

Financial Analysis


NAVIOS MARITIME PARTNERS LP's gross profit margin for the second quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Sales and net income have dropped, underperforming the average competitor within its industry. NAVIOS MARITIME PARTNERS LP has weak liquidity. Currently, the Quick Ratio is 0.57 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

During the same period, stockholders' equity ("net worth") has decreased by 6.91% 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 Q2 FY16 Q2 FY15
Net Sales ($mil)44.8856.47
EBITDA ($mil)24.0638.15
EBIT ($mil)5.2519.1
Net Income ($mil)-16.8111.36


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)26.949.04
Total Assets ($mil)1288.361405.62
Total Debt ($mil)555.01608.5
Equity ($mil)715.62768.76


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin92.2396.04
EBITDA Margin53.667.55
Operating Margin11.733.83
Sales Turnover0.160.16
Return on Assets0.233.46
Return on Equity0.416.34
Debt Q2 FY16 Q2 FY15
Current Ratio0.61.28
Debt/Capital0.440.44
Interest Expense8.377.6
Interest Coverage0.632.51


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)83.0883.08
Div / share0.00.44
EPS-0.20.13
Book value / share8.619.25
Institutional Own % n/a n/a
Avg Daily Volume400646.0703224.0

Valuation


SELL. NAVIOS MARITIME PARTNERS LP's P/E ratio indicates a significant premium compared to an average of 14.68 for the Marine industry and a significant premium compared to the S&P 500 average of 25.13. Conducting a second comparison, its price-to-book ratio of 0.17 indicates a significant discount versus the S&P 500 average of 2.82 and a discount versus the industry average of 1.26. 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
NMM 50.00 Peers 14.68   NMM 1.34 Peers 5.21

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

NMM 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.

NMM 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
NMM NM Peers 15.43   NMM NM Peers 0.06

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

NMM is trading at a significant premium 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.

NMM'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
NMM 0.17 Peers 1.26   NMM -94.83 Peers -28.65

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.

NMM 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, NMM 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
NMM 0.62 Peers 1.33   NMM -11.85 Peers 0.78

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.

NMM 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.

NMM significantly trails its peers on the basis of sales growth

 

 

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