Teekay Offshore Partners LP

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TOO : NYSE : Services
$5.57 | %
Today's Range: 5.12 - 5.72
Avg. Daily Volume: 997,900
07/29/16 - 4:02 PM ET

Financial Analysis


TEEKAY OFFSHORE PARTNERS LP's gross profit margin for the first quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago. TEEKAY OFFSHORE PARTNERS LP has very weak liquidity. Currently, the Quick Ratio is 0.47 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 greatly increased by 65.48% 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 Q1 FY16 Q1 FY15
Net Sales ($mil)302.71264.98
EBITDA ($mil)159.22140.9
EBIT ($mil)84.382.9
Net Income ($mil)-4.41-22.64


Balance Sheet Q1 FY16 Q1 FY15
Cash & Equiv. ($mil)342.59348.08
Total Assets ($mil)5651.594257.81
Total Debt ($mil)3291.252706.93
Equity ($mil)1127.02681.03


Profitability Q1 FY16 Q1 FY15
Gross Profit Margin57.3858.84
EBITDA Margin52.5953.17
Operating Margin27.8531.29
Sales Turnover0.220.24
Return on Assets1.84-0.53
Return on Equity6.01-4.94
Debt Q1 FY16 Q1 FY15
Current Ratio0.530.64
Debt/Capital0.740.8
Interest Expense36.0324.8
Interest Coverage2.343.34


Share Data Q1 FY16 Q1 FY15
Shares outstanding (mil)107.1392.41
Div / share0.110.54
EPS-0.14-0.26
Book value / share10.527.37
Institutional Own % n/a n/a
Avg Daily Volume1030009.01312571.0

Valuation


HOLD. TEEKAY OFFSHORE PARTNERS LP's P/E ratio indicates a significant discount compared to an average of 70.76 for the Oil, Gas & Consumable Fuels industry and a significant discount compared to the S&P 500 average of 25.05. For additional comparison, its price-to-book ratio of 0.55 indicates a significant discount versus the S&P 500 average of 2.81 and a significant discount versus the industry average of 11.73. 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 12.02 Peers 70.76   TOO 1.76 Peers 306.30

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 3.98 Peers 39.26   TOO 0.03 Peers 2.07

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.

 

Discount. 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 trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
TOO 0.55 Peers 11.73   TOO 197.95 Peers -202.73

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.

 

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

TOO 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
TOO 0.49 Peers 2.43   TOO 23.58 Peers -25.78

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.

TOO is trading at a significant discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

TOO has a sales growth rate that significantly exceeds its peers.

 

 

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