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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

Overall GLOP gets a fundamental rating of 4 out of 10. We evaluated GLOP against 210 industry peers in the Oil, Gas & Consumable Fuels industry. While GLOP is still in line with the averages on profitability rating, there are concerns on its financial health. GLOP is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year GLOP was profitable.
GLOP had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: GLOP reported negative net income in multiple 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

Looking at the Return On Assets, with a value of 4.79%, GLOP is doing worse than 67.91% of the companies in the same industry.
GLOP has a worse Return On Equity (9.53%) than 70.23% of its industry peers.
Looking at the Return On Invested Capital, with a value of 9.57%, GLOP is doing worse than 60.47% of the companies in the same industry.
GLOP had an Average Return On Invested Capital over the past 3 years of 6.43%. This is significantly below the industry average of 23.80%.
The 3 year average ROIC (6.43%) for GLOP is below the current ROIC(9.57%), indicating increased profibility in the last year.
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

The Profit Margin of GLOP (24.56%) is comparable to the rest of the industry.
GLOP's Profit Margin has improved in the last couple of years.
GLOP has a Operating Margin of 52.25%. This is in the better half of the industry: GLOP outperforms 77.21% of its industry peers.
In the last couple of years the Operating Margin of GLOP has remained more or less at the same level.
GLOP's Gross Margin of 79.98% is amongst the best of the industry. GLOP outperforms 81.86% of its industry peers.
GLOP's Gross Margin has been stable in the last couple of years.
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

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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.
Compared to 1 year ago, GLOP has more shares outstanding
GLOP has a better debt/assets ratio than last year.
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

GLOP has a debt to FCF ratio of 3.27. This is a good value and a sign of high solvency as GLOP would need 3.27 years to pay back of all of its debts.
GLOP has a Debt to FCF ratio of 3.27. This is comparable to the rest of the industry: GLOP outperforms 54.42% of its industry peers.
A Debt/Equity ratio of 0.67 indicates that GLOP is somewhat dependend on debt financing.
GLOP's Debt to Equity ratio of 0.67 is on the low side compared to the rest of the industry. GLOP is outperformed by 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

GLOP has a Current Ratio of 0.99. This is a bad value and indicates that GLOP is not financially healthy enough and could expect problems in meeting its short term obligations.
GLOP has a worse Current ratio (0.99) 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's Quick ratio of 0.98 is in line compared to the rest of the industry. GLOP outperforms 46.51% of 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

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2

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 81.54% over the past year.
Measured over the past years, GLOP shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.37% on average per year.
The Revenue has grown by 18.53% in the past year. This is quite good.
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

The Earnings Per Share is expected to decrease by -19.08% on average over the next years. This is quite bad
GLOP is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -6.60% yearly.
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

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 3.66 indicates a rather cheap valuation of GLOP.
GLOP's Price/Earnings ratio is a bit cheaper when compared to the industry. GLOP is cheaper than 79.07% of the companies in the same industry.
When comparing the Price/Earnings ratio of GLOP to the average of the S&P500 Index (27.69), we can say GLOP is valued rather cheaply.
The Price/Forward Earnings ratio is 6.70, which indicates a rather cheap valuation of GLOP.
GLOP's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. GLOP is cheaper than 68.84% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 37.36, GLOP is valued rather cheaply.
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

Based on the Enterprise Value to EBITDA ratio, GLOP is valued a bit cheaper than the industry average as 63.72% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, GLOP is valued cheaply inside the industry as 97.21% of the companies are valued more expensively.
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.
A cheap valuation may be justified as GLOP's earnings are expected to decrease with -19.08% in the coming years.
PEG (NY)2.1
PEG (5Y)N/A
EPS Next 2Y-22.61%
EPS Next 3Y-19.08%

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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 2.34, 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 paid a dividend for at least 10 years, which is 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

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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%