Teekay Offshore Partners LP

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TOO : NYSE : Transportation
$2.45 up 0.04 | 1.66%
Today's Range: 2.4 - 2.55
Avg. Daily Volume: 1222000.0
02/16/18 - 4:02 PM ET

Financial Analysis


TEEKAY OFFSHORE PARTNERS LP's gross profit margin for the third quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. Sales and net income have dropped, underperforming the average competitor within its industry. TEEKAY OFFSHORE PARTNERS LP has weak liquidity. Currently, the Quick Ratio is 0.52 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 12.86% 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 FY17 Q3 FY16
Net Sales ($mil)273.63286.3
EBITDA ($mil)121.21136.7
EBIT ($mil)45.962.54
Net Income ($mil)-317.4947.7


Balance Sheet Q3 FY17 Q3 FY16
Cash & Equiv. ($mil)443.82254.28
Total Assets ($mil)5624.355711.09
Total Debt ($mil)3077.553148.85
Equity ($mil)1411.01250.15


Profitability Q3 FY17 Q3 FY16
Gross Profit Margin51.5653.06
EBITDA Margin44.2947.74
Operating Margin16.7821.84
Sales Turnover0.190.21
Return on Assets-4.02-0.27
Return on Equity-19.76-4.83
Debt Q3 FY17 Q3 FY16
Current Ratio0.560.59
Debt/Capital0.690.72
Interest Expense59.3316.99
Interest Coverage0.773.68


Share Data Q3 FY17 Q3 FY16
Shares outstanding (mil)410.05143.06
Div / share0.010.11
EPS-1.790.24
Book value / share3.448.74
Institutional Own % n/a n/a
Avg Daily Volume1289849.0794930.0

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 3.08 and a significant discount versus the industry average of 5.34. 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 253.23   TOO 2.35 Peers 9.01

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 6.05 Peers 34.62   TOO NA Peers 0.68

Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings.

TOO's ratio is negative making this valuation measure meaningless.

 

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 5.34   TOO -97.43 Peers 282.80

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 0.84 Peers 2.02   TOO -10.16 Peers 29.17

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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