KNOT OFFSHORE PARTNERS LP (KNOP)
MHY481251012 - Common Stock
KNOP gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 214 industry peers in the Oil, Gas & Consumable Fuels industry. Both the profitability and financial health of KNOP have multiple concerns. KNOP has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year KNOP was profitable.
KNOP had a positive operating cash flow in the past year.
Of the past 5 years KNOP 4 years were profitable.
Each year in the past 5 years KNOP had a positive operating cash flow.
1.2 Ratios
The Return On Assets of KNOP (-2.53%) is worse than 85.05% of its industry peers.
With a Return On Equity value of -6.64%, KNOP is not doing good in the industry: 82.71% of the companies in the same industry are doing better.
The Return On Invested Capital of KNOP (4.02%) is worse than 74.30% of its industry peers.
KNOP had an Average Return On Invested Capital over the past 3 years of 4.37%. This is significantly below the industry average of 44.69%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.53% | ||
| ROE | -6.64% | ||
| ROIC | 4.02% |
ROA(3y)1.05%
ROA(5y)1.86%
ROE(3y)2.67%
ROE(5y)4.66%
ROIC(3y)4.37%
ROIC(5y)5.1%
1.3 Margins
Looking at the Operating Margin, with a value of 25.72%, KNOP is in line with its industry, outperforming 49.53% of the companies in the same industry.
KNOP's Operating Margin has declined in the last couple of years.
The Gross Margin of KNOP (65.99%) is better than 68.22% of its industry peers.
In the last couple of years the Gross Margin of KNOP has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 25.72% | ||
| PM (TTM) | N/A | ||
| GM | 65.99% |
OM growth 3Y-16.44%
OM growth 5Y-10.99%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-5.48%
GM growth 5Y-3.7%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so KNOP is destroying value.
KNOP has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, KNOP has more shares outstanding
The debt/assets ratio for KNOP has been reduced compared to a year ago.
2.2 Solvency
KNOP has a debt to FCF ratio of 7.42. This is a slightly negative value and a sign of low solvency as KNOP would need 7.42 years to pay back of all of its debts.
KNOP has a Debt to FCF ratio (7.42) which is in line with its industry peers.
KNOP has a Debt/Equity ratio of 1.41. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of KNOP (1.41) is worse than 78.97% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.41 | ||
| Debt/FCF | 7.42 | ||
| Altman-Z | N/A |
ROIC/WACC0.58
WACC6.91%
2.3 Liquidity
KNOP has a Current Ratio of 0.70. This is a bad value and indicates that KNOP is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.70, KNOP is not doing good in the industry: 80.37% of the companies in the same industry are doing better.
A Quick Ratio of 0.67 indicates that KNOP may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.67, KNOP is doing worse than 77.10% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.7 | ||
| Quick Ratio | 0.67 |
3. Growth
3.1 Past
The earnings per share for KNOP have decreased strongly by -73.87% in the last year.
Measured over the past years, KNOP shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -28.67% on average per year.
The Revenue has grown by 8.24% in the past year. This is quite good.
KNOP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.79% yearly.
EPS 1Y (TTM)-73.87%
EPS 3Y-38.99%
EPS 5Y-28.67%
EPS growth Q2Q-183.33%
Revenue 1Y (TTM)8.24%
Revenue growth 3Y1.36%
Revenue growth 5Y0.79%
Revenue growth Q2Q1.98%
3.2 Future
Based on estimates for the next years, KNOP will show a very negative growth in Earnings Per Share. The EPS will decrease by -71.90% on average per year.
KNOP is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.46% yearly.
EPS Next Y-171.08%
EPS Next 2Y-71.9%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-2.66%
Revenue Next 2Y-0.46%
Revenue Next 3YN/A
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.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 11.09 indicates a reasonable valuation of KNOP.
Compared to the rest of the industry, the Price/Earnings ratio of KNOP is on the same level as its industry peers.
KNOP is valuated cheaply when we compare the Price/Earnings ratio to 24.84, which is the current average of the S&P500 Index.
KNOP is expected to report negative earnings next year, which makes the Forward Price/Earnings Ratio negative.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.09 | ||
| Fwd PE | N/A |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of KNOP is on the same level as its industry peers.
99.53% of the companies in the same industry are more expensive than KNOP, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 1.32 | ||
| EV/EBITDA | 5.72 |
4.3 Compensation for Growth
A cheap valuation may be justified as KNOP's earnings are expected to decrease with -71.90% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-71.9%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.06%, KNOP has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.72, KNOP has a dividend in line with its industry peers.
KNOP's Dividend Yield is comparable with the S&P500 average which is at 2.41.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.06% |
5.2 History
The dividend of KNOP decreases each year by -34.68%.
KNOP has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-34.68%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
The earnings of KNOP are negative and hence is the payout ratio. KNOP will probably not be able to sustain this dividend level.
KNOP's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP-25.78%
EPS Next 2Y-71.9%
EPS Next 3YN/A
KNOT OFFSHORE PARTNERS LP
NYSE:KNOP (4/26/2024, 7:04:00 PM)
After market: 5.2 +0.21 (+4.21%)4.99
-0.07 (-1.38%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap169.91M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.06% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
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EPS beat(4)
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Min EPS beat(4)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.09 | ||
| Fwd PE | N/A | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.53% | ||
| ROE | -6.64% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 25.72% | ||
| PM (TTM) | N/A | ||
| GM | 65.99% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.41 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.7 | ||
| Quick Ratio | 0.67 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-73.87%
EPS 3Y-38.99%
EPS 5Y
EPS growth Q2Q
EPS Next Y-171.08%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)8.24%
Revenue growth 3Y1.36%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y