Navios Maritime Partners LP

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NMM : NYSE : Services
$2.13 | %
Today's Range: 2.12 - 2.17
Avg. Daily Volume: 660300.0
09/22/17 - 4:02 PM ET

Financial Analysis


NAVIOS MARITIME PARTNERS LP's gross profit margin for the second quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. The company has grown its sales and net income during the past quarter when compared with the same quarter a year ago, and although its growth in net income has outpaced the industry average, its revenue growth has not. NAVIOS MARITIME PARTNERS LP has strong liquidity. Currently, the Quick Ratio is 1.93 which shows the ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

During the same period, stockholders' equity ("net worth") has increased by 11.44% from the same quarter last year. The key liquidity measurements indicate that the company is unlikely to face financial difficulties in the near future.

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Income Statement Q2 FY17 Q2 FY16
Net Sales ($mil)50.0244.88
EBITDA ($mil)28.0624.06
EBIT ($mil)9.385.25
Net Income ($mil)4.09-16.81


Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)86.0526.9
Total Assets ($mil)1327.551288.36
Total Debt ($mil)475.02555.01
Equity ($mil)797.5715.62


Profitability Q2 FY17 Q2 FY16
Gross Profit Margin96.7492.23
EBITDA Margin56.0953.6
Operating Margin18.7511.7
Sales Turnover0.140.16
Return on Assets-2.820.23
Return on Equity-4.70.41
Debt Q2 FY17 Q2 FY16
Current Ratio1.950.6
Debt/Capital0.370.44
Interest Expense8.158.37
Interest Coverage1.150.63


Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)147.4483.08
Div / share0.00.0
EPS0.03-0.2
Book value / share5.418.61
Institutional Own % n/a n/a
Avg Daily Volume684097.0808665.0

Valuation


SELL. 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. Conducting a second comparison, its price-to-book ratio of 0.40 indicates a significant discount versus the S&P 500 average of 3.10 and a discount versus the industry average of 0.98. The price-to-sales ratio is below both the S&P 500 average and the industry average, indicating a discount. After reviewing these and other key valuation criteria, NAVIOS MARITIME 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
NMM NM Peers 24.28   NMM 7.69 Peers 11.28

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.

NMM'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.

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 18.96 Peers 22.86   NMM NA Peers 7.29

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.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
NMM 0.40 Peers 0.98   NMM -1600.00 Peers -79.36

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 1.67 Peers 1.88   NMM -4.24 Peers 10.96

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.

NMM is trading at a 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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