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Gaslog Partners LP (GLOP) Stock Fundamental Analysis

NYSE:GLOP - New York Stock Exchange, Inc. - MHY2687W1084 - Currency: USD

8.63  -0.01 (-0.12%)

Premarket: 8 -0.63 (-7.3%)

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to GLOP. GLOP was compared to 210 industry peers in the Oil, Gas & Consumable Fuels industry. GLOP has a medium profitability rating, but doesn't score so well on its financial health evaluation. GLOP has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

In the past year GLOP was profitable.
In the past year GLOP had a positive cash flow from operations.
In multiple years GLOP reported negative net income over the last 5 years.
In the past 5 years GLOP always reported a positive cash flow from operatings.
GLOP Yearly Net Income VS EBIT VS OCF VS FCFGLOP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 100M -100M 200M -200M

1.2 Ratios

The Return On Assets of GLOP (4.79%) is worse than 67.91% of its industry peers.
GLOP's Return On Equity of 9.53% is on the low side compared to the rest of the industry. GLOP is outperformed by 70.23% of its industry peers.
GLOP has a Return On Invested Capital of 9.57%. This is in the lower half of the industry: GLOP underperforms 60.47% of its industry peers.
The Average Return On Invested Capital over the past 3 years for GLOP is significantly below the industry average of 23.79%.
The last Return On Invested Capital (9.57%) for GLOP is above the 3 year average (6.43%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.79%
ROE 9.53%
ROIC 9.57%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)6.43%
ROIC(5y)6.63%
GLOP Yearly ROA, ROE, ROICGLOP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 0 5 -5

1.3 Margins

GLOP's Profit Margin of 24.56% is in line compared to the rest of the industry. GLOP outperforms 53.95% of its industry peers.
In the last couple of years the Profit Margin of GLOP has grown nicely.
With a decent Operating Margin value of 52.25%, GLOP is doing good in the industry, outperforming 77.21% of the companies in the same industry.
GLOP's Operating Margin has been stable in the last couple of years.
Looking at the Gross Margin, with a value of 79.98%, GLOP belongs to the top of the industry, outperforming 81.86% of the companies in the same industry.
In the last couple of years the Gross Margin of GLOP has remained more or less at the same level.
Industry RankSector Rank
OM 52.25%
PM (TTM) 24.56%
GM 79.98%
OM growth 3Y0.69%
OM growth 5Y-1.45%
PM growth 3YN/A
PM growth 5Y3.05%
GM growth 3Y0.38%
GM growth 5Y-0.27%
GLOP Yearly Profit, Operating, Gross MarginsGLOP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 0 20 40 60

2

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), GLOP is creating some value.
The number of shares outstanding for GLOP has been increased compared to 1 year ago.
The debt/assets ratio for GLOP has been reduced compared to a year ago.
GLOP Yearly Shares OutstandingGLOP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 10M 20M 30M 40M 50M
GLOP Yearly Total Debt VS Total AssetsGLOP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 500M 1B 1.5B 2B 2.5B

2.2 Solvency

The Debt to FCF ratio of GLOP is 3.27, which is a good value as it means it would take GLOP, 3.27 years of fcf income to pay off all of its debts.
GLOP has a Debt to FCF ratio (3.27) which is in line with its industry peers.
A Debt/Equity ratio of 0.67 indicates that GLOP is somewhat dependend on debt financing.
GLOP has a Debt to Equity ratio of 0.67. This is in the lower half of the industry: GLOP underperforms 64.19% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.67
Debt/FCF 3.27
Altman-Z N/A
ROIC/WACC1.31
WACC7.3%
GLOP Yearly LT Debt VS Equity VS FCFGLOP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 500M 1B

2.3 Liquidity

A Current Ratio of 0.99 indicates that GLOP may have some problems paying its short term obligations.
The Current ratio of GLOP (0.99) is worse than 64.65% of its industry peers.
A Quick Ratio of 0.98 indicates that GLOP may have some problems paying its short term obligations.
GLOP has a Quick ratio (0.98) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 0.99
Quick Ratio 0.98
GLOP Yearly Current Assets VS Current LiabilitesGLOP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 100M 200M 300M 400M 500M

2

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 81.54% over the past year.
The Earnings Per Share has been decreasing by -0.37% on average over the past years.
Looking at the last year, GLOP shows a quite strong growth in Revenue. The Revenue has grown by 18.53% in the last year.
GLOP shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.58% yearly.
EPS 1Y (TTM)81.54%
EPS 3Y12.01%
EPS 5Y-0.37%
EPS Q2Q%51.22%
Revenue 1Y (TTM)18.53%
Revenue growth 3Y-0.68%
Revenue growth 5Y-1.58%
Sales Q2Q%15.93%

3.2 Future

Based on estimates for the next years, GLOP will show a very negative growth in Earnings Per Share. The EPS will decrease by -19.08% on average per year.
The Revenue is expected to decrease by -6.60% on average over the next years.
EPS Next Y1.74%
EPS Next 2Y-22.61%
EPS Next 3Y-19.08%
EPS Next 5YN/A
Revenue Next Year-0.38%
Revenue Next 2Y-7.27%
Revenue Next 3Y-6.6%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
GLOP Yearly Revenue VS EstimatesGLOP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
GLOP Yearly EPS VS EstimatesGLOP Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

6

4. Valuation

4.1 Price/Earnings Ratio

GLOP is valuated cheaply with a Price/Earnings ratio of 3.66.
Based on the Price/Earnings ratio, GLOP is valued a bit cheaper than 79.07% of the companies in the same industry.
GLOP's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.35.
Based on the Price/Forward Earnings ratio of 6.70, the valuation of GLOP can be described as very cheap.
Compared to the rest of the industry, the Price/Forward Earnings ratio of GLOP indicates a somewhat cheap valuation: GLOP is cheaper than 68.84% of the companies listed in the same industry.
GLOP is valuated cheaply when we compare the Price/Forward Earnings ratio to 37.54, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 3.66
Fwd PE 6.7
GLOP Price Earnings VS Forward Price EarningsGLOP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GLOP indicates a somewhat cheap valuation: GLOP is cheaper than 63.72% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of GLOP indicates a rather cheap valuation: GLOP is cheaper than 97.21% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 1.63
EV/EBITDA 3.6
GLOP Per share dataGLOP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates GLOP does not grow enough to justify the current Price/Earnings ratio.
GLOP's earnings are expected to decrease with -19.08% in the coming years. This may justify a cheaper valuation.
PEG (NY)2.1
PEG (5Y)N/A
EPS Next 2Y-22.61%
EPS Next 3Y-19.08%

3

5. Dividend

5.1 Amount

With a yearly dividend of 0.46%, GLOP is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.49, GLOP is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.36, GLOP's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.46%

5.2 History

The dividend of GLOP decreases each year by -25.08%.
GLOP has been paying a dividend for at least 10 years, so it has a reliable track record.
GLOP has decreased its dividend recently.
Dividend Growth(5Y)-25.08%
Div Incr Years0
Div Non Decr Years1
GLOP Yearly Dividends per shareGLOP Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 1 2 3

5.3 Sustainability

29.80% of the earnings are spent on dividend by GLOP. This is a low number and sustainable payout ratio.
The Dividend Rate of GLOP has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP29.8%
EPS Next 2Y-22.61%
EPS Next 3Y-19.08%
GLOP Yearly Income VS Free CF VS DividendGLOP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 0 100M -100M 200M -200M
GLOP Dividend Payout.GLOP Dividend Payout, showing the Payout Ratio.GLOP Dividend Payout.PayoutRetained Earnings

Gaslog Partners LP

NYSE:GLOP (7/12/2023, 8:11:22 PM)

Premarket: 8 -0.63 (-7.3%)

8.63

-0.01 (-0.12%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)04-27 2023-04-27/bmo
Earnings (Next)07-26 2023-07-26/amc
Inst Owners0.01%
Inst Owner Change0%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap458.97M
Analysts47.5
Price Target8.91 (3.24%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.46%
Yearly Dividend0.55
Dividend Growth(5Y)-25.08%
DP29.8%
Div Incr Years0
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)15.79%
Min EPS beat(2)0.3%
Max EPS beat(2)31.28%
EPS beat(4)4
Avg EPS beat(4)30.01%
Min EPS beat(4)0.3%
Max EPS beat(4)79.2%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)8.18%
Min Revenue beat(2)6.93%
Max Revenue beat(2)9.43%
Revenue beat(4)4
Avg Revenue beat(4)9.45%
Min Revenue beat(4)1.73%
Max Revenue beat(4)19.73%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-6.4%
EPS NY rev (1m)0%
EPS NY rev (3m)1.64%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.68%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.99%
Valuation
Industry RankSector Rank
PE 3.66
Fwd PE 6.7
P/S 1.19
P/FCF 1.63
P/OCF 1.61
P/B 0.46
P/tB 0.46
EV/EBITDA 3.6
EPS(TTM)2.36
EY27.35%
EPS(NY)1.29
Fwd EY14.92%
FCF(TTM)5.29
FCFY61.31%
OCF(TTM)5.38
OCFY62.29%
SpS7.23
BVpS18.63
TBVpS18.63
PEG (NY)2.1
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.79%
ROE 9.53%
ROCE N/A
ROIC 9.57%
ROICexc 11.53%
ROICexgc 11.53%
OM 52.25%
PM (TTM) 24.56%
GM 79.98%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)6.43%
ROIC(5y)6.63%
ROICexc(3y)7.04%
ROICexc(5y)7.16%
ROICexgc(3y)7.04%
ROICexgc(5y)7.16%
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y9.38%
ROICexcg growth 5Y3.14%
ROICexc growth 3Y9.38%
ROICexc growth 5Y3.14%
OM growth 3Y0.69%
OM growth 5Y-1.45%
PM growth 3YN/A
PM growth 5Y3.05%
GM growth 3Y0.38%
GM growth 5Y-0.27%
F-Score9
Asset Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 0.67
Debt/FCF 3.27
Debt/EBITDA 3.18
Cap/Depr 5.08%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 297.9%
Current Ratio 0.99
Quick Ratio 0.98
Altman-Z N/A
F-Score9
WACC7.3%
ROIC/WACC1.31
Cap/Depr(3y)18.01%
Cap/Depr(5y)19.44%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)81.54%
EPS 3Y12.01%
EPS 5Y-0.37%
EPS Q2Q%51.22%
EPS Next Y1.74%
EPS Next 2Y-22.61%
EPS Next 3Y-19.08%
EPS Next 5YN/A
Revenue 1Y (TTM)18.53%
Revenue growth 3Y-0.68%
Revenue growth 5Y-1.58%
Sales Q2Q%15.93%
Revenue Next Year-0.38%
Revenue Next 2Y-7.27%
Revenue Next 3Y-6.6%
Revenue Next 5YN/A
EBIT growth 1Y43.14%
EBIT growth 3Y0%
EBIT growth 5Y-3%
EBIT Next Year53.2%
EBIT Next 3Y8%
EBIT Next 5YN/A
FCF growth 1Y51.18%
FCF growth 3Y6.91%
FCF growth 5Y2.01%
OCF growth 1Y36.19%
OCF growth 3Y5.12%
OCF growth 5Y1.79%