Teekay Offshore Partners LP

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TOO : NYSE : Services
$5.19 | %
Today's Range: 5.095 - 5.49
Avg. Daily Volume: 719700.0
02/24/17 - 4:02 PM ET

Financial Analysis


TEEKAY OFFSHORE PARTNERS LP's gross profit margin for the third quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Even though sales decreased, the net income has increased. TEEKAY OFFSHORE PARTNERS LP has weak liquidity. Currently, the Quick Ratio is 0.51 which shows a lack of 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 5.32% 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 Q3 FY16 Q3 FY15
Net Sales ($mil)286.3314.05
EBITDA ($mil)136.7158.4
EBIT ($mil)62.5485.58
Net Income ($mil)47.7-54.74


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)254.28291.3
Total Assets ($mil)5711.095856.87
Total Debt ($mil)3148.853379.92
Equity ($mil)1250.151186.92


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin53.0654.71
EBITDA Margin47.7450.43
Operating Margin21.8427.25
Sales Turnover0.210.2
Return on Assets-0.270.32
Return on Equity-4.83-0.12
Debt Q3 FY16 Q3 FY15
Current Ratio0.590.52
Debt/Capital0.720.74
Interest Expense35.3833.65
Interest Coverage1.772.54


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)143.06107.0
Div / share0.110.54
EPS0.24-0.69
Book value / share8.7411.09
Institutional Own % n/a n/a
Avg Daily Volume686478.0712470.0

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. For additional comparison, its price-to-book ratio of 0.65 indicates a significant discount versus the S&P 500 average of 2.94 and a significant discount versus the industry average of 32.24. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. After reviewing 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 NM Peers 146.60   TOO 2.08 Peers 12.63

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.

TOO'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.

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 3.80 Peers 35.50   TOO NA Peers 2.02

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.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
TOO 0.65 Peers 32.24   TOO -178.57 Peers -20.00

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 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
TOO 0.67 Peers 2.73   TOO 5.37 Peers -12.86

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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