Teekay Offshore Partners LP

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TOO : NYSE : Services
$5.26 up 0.09 | 1.7%
Today's Range: 5.11 - 5.29
Avg. Daily Volume: 743200.0
12/08/16 - 3:28 PM ET

Financial Analysis


TEEKAY OFFSHORE PARTNERS LP's gross profit margin for the second quarter of its fiscal year 2016 has decreased when compared to the same period a year ago. Sales and net income have dropped, however the growth has outpaced the average competitor within the industry. TEEKAY OFFSHORE PARTNERS LP has weak liquidity. Currently, the Quick Ratio is 0.63 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

At the same time, stockholders' equity ("net worth") has greatly increased by 40.55% 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 Q2 FY16 Q2 FY15
Net Sales ($mil)284.46311.23
EBITDA ($mil)143.47168.85
EBIT ($mil)69.4197.05
Net Income ($mil)-102.63119.74


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)388.12316.46
Total Assets ($mil)5782.294366.85
Total Debt ($mil)3241.232661.96
Equity ($mil)1192.95848.74


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin55.2959.42
EBITDA Margin50.4354.25
Operating Margin24.431.18
Sales Turnover0.210.25
Return on Assets-2.032.34
Return on Equity-13.4110.53
Debt Q2 FY16 Q2 FY15
Current Ratio0.70.6
Debt/Capital0.730.76
Interest Expense33.3531.38
Interest Coverage2.083.09


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)137.4392.41
Div / share0.110.54
EPS-1.181.01
Book value / share8.689.18
Institutional Own % n/a n/a
Avg Daily Volume715753.0995994.0

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 0.64 indicates a significant discount versus the S&P 500 average of 2.79 and a significant discount versus the industry average of 20.54. 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 38.75   TOO 1.92 Peers 12.67

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 3.32 Peers 44.30   TOO NA Peers 0.47

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 0.64 Peers 20.54   TOO -359.09 Peers -239.55

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 0.62 Peers 2.56   TOO 13.26 Peers -20.64

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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