Teekay Offshore Partners LP

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TOO : NYSE : Services
$2.59 up 0.03 | 1.17%
Today's Range: 2.58 - 2.69
Avg. Daily Volume: 1175300.0
06/28/17 - 4:02 PM ET

Financial Analysis


TEEKAY OFFSHORE PARTNERS LP's gross profit margin for the first 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 0.46 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity decreased from the same period a year ago, despite already having very weak liquidity to begin with. This would indicate deteriorating cash flow.

During the same period, stockholders' equity ("net worth") has increased by 20.66% 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 FY17 Q1 FY16
Net Sales ($mil)276.14302.71
EBITDA ($mil)135.63159.22
EBIT ($mil)60.9184.3
Net Income ($mil)18.89-4.41


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)290.73342.59
Total Assets ($mil)5617.165651.59
Total Debt ($mil)3121.113291.25
Equity ($mil)1359.971127.02


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin54.4157.38
EBITDA Margin49.1152.59
Operating Margin22.0627.85
Sales Turnover0.20.22
Return on Assets0.991.84
Return on Equity0.446.01
Debt Q1 FY17 Q1 FY16
Current Ratio0.520.53
Debt/Capital0.70.74
Interest Expense43.27101.91
Interest Coverage1.410.83


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)149.72107.13
Div / share0.110.11
EPS0.04-0.14
Book value / share9.0810.52
Institutional Own % n/a n/a
Avg Daily Volume1082829.0759254.0

Valuation


SELL. This stock’s P/E ratio is negative, making its value useless in the assessment of premium or discount valuation, only displaying that the company has negative earnings per share. For additional comparison, its price-to-book ratio of 0.21 indicates a significant discount versus the S&P 500 average of 3.09 and a significant discount versus the industry average of 80.37. 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 50.87   TOO 1.04 Peers 14.93

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 2.69 Peers 23.67   TOO NA Peers 0.54

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 0.21 Peers 80.37   TOO -197.91 Peers 98.98

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 0.26 Peers 2.12   TOO -11.47 Peers 7.09

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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