Teekay Offshore Partners LP

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TOO : NYSE : Services
$2.46 up 0.06 | 2.5%
Today's Range: 2.35 - 2.51
Avg. Daily Volume: 1573600.0
08/17/17 - 2:16 PM ET

Financial Analysis


TEEKAY OFFSHORE PARTNERS LP's gross profit margin for the second quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. Even though sales decreased, the net income has increased. TEEKAY OFFSHORE PARTNERS LP has very weak liquidity. Currently, the Quick Ratio is 0.37 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

During the same period, stockholders' equity ("net worth") has increased by 11.31% 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 Q2 FY17 Q2 FY16
Net Sales ($mil)264.79284.46
EBITDA ($mil)122.01143.47
EBIT ($mil)47.7269.41
Net Income ($mil)-20.01-102.63


Balance Sheet Q2 FY17 Q2 FY16
Cash & Equiv. ($mil)309.0388.12
Total Assets ($mil)5622.285782.29
Total Debt ($mil)3144.123241.23
Equity ($mil)1327.871192.95


Profitability Q2 FY17 Q2 FY16
Gross Profit Margin51.1355.29
EBITDA Margin46.0750.43
Operating Margin18.0224.4
Sales Turnover0.20.21
Return on Assets2.46-2.03
Return on Equity6.45-13.41
Debt Q2 FY17 Q2 FY16
Current Ratio0.410.7
Debt/Capital0.70.73
Interest Expense59.7794.68
Interest Coverage0.80.73


Share Data Q2 FY17 Q2 FY16
Shares outstanding (mil)153.86137.43
Div / share0.110.11
EPS-0.22-1.18
Book value / share8.638.68
Institutional Own % n/a n/a
Avg Daily Volume1658956.0807059.0

Valuation


SELL. TEEKAY OFFSHORE PARTNERS LP's P/E ratio indicates a significant discount compared to an average of 64.34 for the Oil, Gas & Consumable Fuels industry and a significant discount compared to the S&P 500 average of 24.31. For additional comparison, its price-to-book ratio of 0.30 indicates a significant discount versus the S&P 500 average of 3.03 and a significant discount versus the industry average of 541.69. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, TEEKAY OFFSHORE 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
TOO 5.31 Peers 64.34   TOO 1.09 Peers 15.89

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

TOO is trading at a significant discount 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.

TOO 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
TOO 6.19 Peers 34.73   TOO NM Peers 0.55

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

TOO 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.

TOO'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
TOO 0.30 Peers 541.69   TOO 128.65 Peers 154.68

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.

TOO 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, TOO is expected to 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
TOO 0.36 Peers 2.03   TOO -11.15 Peers 19.70

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.

TOO 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.

TOO significantly trails its peers on the basis of sales growth

 

 

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