KNOT OFFSHORE PARTNERS LP (KNOP) Stock Fundamental Analysis
NYSE:KNOP - New York Stock Exchange, Inc. - MHY481251012 - Common Stock - Currency: USD
KNOP gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 213 industry peers in the Oil, Gas & Consumable Fuels industry. While KNOP is still in line with the averages on profitability rating, there are concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on KNOP.
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.
In the past 5 years KNOP always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 0.46%, KNOP is doing worse than 65.26% of the companies in the same industry.
KNOP has a worse Return On Equity (1.23%) than 63.38% of its industry peers.
KNOP has a Return On Invested Capital (5.26%) which is in line with its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for KNOP is significantly below the industry average of 23.98%.
The 3 year average ROIC (4.45%) for KNOP is below the current ROIC(5.26%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.46% | ||
| ROE | 1.23% | ||
| ROIC | 5.26% |
ROA(3y)0.29%
ROA(5y)1.36%
ROE(3y)0.78%
ROE(5y)3.47%
ROIC(3y)4.45%
ROIC(5y)4.96%
1.3 Margins
The Profit Margin of KNOP (2.32%) is worse than 60.56% of its industry peers.
KNOP's Profit Margin has declined in the last couple of years.
KNOP's Operating Margin of 27.79% is fine compared to the rest of the industry. KNOP outperforms 65.26% of its industry peers.
In the last couple of years the Operating Margin of KNOP has declined.
With a decent Gross Margin value of 64.43%, KNOP is doing good in the industry, outperforming 73.24% of the companies in the same industry.
In the last couple of years the Gross Margin of KNOP has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 27.79% | ||
| PM (TTM) | 2.32% | ||
| GM | 64.43% |
OM growth 3Y-8.79%
OM growth 5Y-9.25%
PM growth 3Y-48.51%
PM growth 5Y-34.08%
GM growth 3Y-4.48%
GM growth 5Y-3.81%
2. Health
2.1 Basic Checks
KNOP has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
KNOP has about the same amout of shares outstanding than it did 1 year ago.
KNOP has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, KNOP has an improved debt to assets ratio.
2.2 Solvency
KNOP has a debt to FCF ratio of 6.51. This is a slightly negative value and a sign of low solvency as KNOP would need 6.51 years to pay back of all of its debts.
With a Debt to FCF ratio value of 6.51, KNOP perfoms like the industry average, outperforming 58.69% of the companies in the same industry.
KNOP has a Debt/Equity ratio of 1.13. This is a high value indicating a heavy dependency on external financing.
KNOP has a worse Debt to Equity ratio (1.13) than 71.83% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.13 | ||
| Debt/FCF | 6.51 | ||
| Altman-Z | N/A |
ROIC/WACC0.69
WACC7.57%
2.3 Liquidity
KNOP has a Current Ratio of 0.34. This is a bad value and indicates that KNOP is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 0.34, KNOP is doing worse than 92.49% of the companies in the same industry.
KNOP has a Quick Ratio of 0.34. This is a bad value and indicates that KNOP is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of KNOP (0.33) is worse than 91.55% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.34 | ||
| Quick Ratio | 0.33 |
3. Growth
3.1 Past
The earnings per share for KNOP have decreased strongly by -41.43% in the last year.
The earnings per share for KNOP have been decreasing by -23.10% on average. This is quite bad
The Revenue has grown by 10.07% in the past year. This is quite good.
Measured over the past years, KNOP shows a small growth in Revenue. The Revenue has been growing by 2.43% on average per year.
EPS 1Y (TTM)-41.43%
EPS 3Y-37.38%
EPS 5Y-23.1%
EPS Q2Q%4.76%
Revenue 1Y (TTM)10.07%
Revenue growth 3Y4.26%
Revenue growth 5Y2.43%
Sales Q2Q%9.65%
3.2 Future
The Earnings Per Share is expected to grow by 31.41% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 1.32% on average over the next years.
EPS Next Y70.85%
EPS Next 2Y54.82%
EPS Next 3Y31.41%
EPS Next 5YN/A
Revenue Next Year5.96%
Revenue Next 2Y3.45%
Revenue Next 3Y1.32%
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 accelerating.
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
Based on the Price/Earnings ratio of 15.39, the valuation of KNOP can be described as correct.
The rest of the industry has a similar Price/Earnings ratio as KNOP.
When comparing the Price/Earnings ratio of KNOP to the average of the S&P500 Index (26.43), we can say KNOP is valued slightly cheaper.
KNOP is valuated cheaply with a Price/Forward Earnings ratio of 6.58.
KNOP's Price/Forward Earnings ratio is rather cheap when compared to the industry. KNOP is cheaper than 84.98% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.17. KNOP is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.39 | ||
| Fwd PE | 6.58 |
4.2 Price Multiples
67.61% of the companies in the same industry are more expensive than KNOP, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of KNOP indicates a rather cheap valuation: KNOP is cheaper than 99.06% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 1.48 | ||
| EV/EBITDA | 5.72 |
4.3 Compensation for Growth
KNOP's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as KNOP's earnings are expected to grow with 31.41% in the coming years.
PEG (NY)0.22
PEG (5Y)N/A
EPS Next 2Y54.82%
EPS Next 3Y31.41%
5. Dividend
5.1 Amount
KNOP has a Yearly Dividend Yield of 1.65%.
Compared to an average industry Dividend Yield of 6.81, KNOP is paying slightly less dividend.
KNOP's Dividend Yield is slightly below the S&P500 average, which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.65% |
5.2 History
The dividend of KNOP decreases each year by -34.67%.
KNOP has paid a dividend for at least 10 years, which is a reliable track record.
KNOP has decreased its dividend recently.
Dividend Growth(5Y)-34.67%
Div Incr Years0
Div Non Decr Years1
5.3 Sustainability
KNOP pays out 137.95% of its income as dividend. This is not a sustainable payout ratio.
DP137.95%
EPS Next 2Y54.82%
EPS Next 3Y31.41%
6.31
-0.08 (-1.25%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners28.92%
Inst Owner Change-0.27%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap214.86M
Analysts84.44
Price Target13.5 (113.95%)
Short Float %0.77%
Short Ratio2.19
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.65% |
Yearly Dividend0.29
Dividend Growth(5Y)-34.67%
DP137.95%
Div Incr Years0
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)929.41%
Min EPS beat(2)54.06%
Max EPS beat(2)1804.76%
EPS beat(4)2
Avg EPS beat(4)236.61%
Min EPS beat(4)-473.15%
Max EPS beat(4)1804.76%
EPS beat(8)5
Avg EPS beat(8)309.26%
EPS beat(12)7
Avg EPS beat(12)205.26%
EPS beat(16)9
Avg EPS beat(16)150.46%
Revenue beat(2)2
Avg Revenue beat(2)9.61%
Min Revenue beat(2)2.59%
Max Revenue beat(2)16.63%
Revenue beat(4)4
Avg Revenue beat(4)5.65%
Min Revenue beat(4)0.66%
Max Revenue beat(4)16.63%
Revenue beat(8)7
Avg Revenue beat(8)3.75%
Revenue beat(12)10
Avg Revenue beat(12)2.72%
Revenue beat(16)12
Avg Revenue beat(16)1.64%
PT rev (1m)0%
PT rev (3m)5.87%
EPS NQ rev (1m)10.82%
EPS NQ rev (3m)95.24%
EPS NY rev (1m)0%
EPS NY rev (3m)55.81%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.69%
Revenue NY rev (1m)0%
Revenue NY rev (3m)4.14%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.39 | ||
| Fwd PE | 6.58 | ||
| P/S | 0.66 | ||
| P/FCF | 1.48 | ||
| P/OCF | 1.47 | ||
| P/B | 0.35 | ||
| P/tB | 0.35 | ||
| EV/EBITDA | 5.72 |
EPS(TTM)0.41
EY6.5%
EPS(NY)0.96
Fwd EY15.19%
FCF(TTM)4.26
FCFY67.52%
OCF(TTM)4.29
OCFY68.03%
SpS9.57
BVpS18.09
TBVpS18.09
PEG (NY)0.22
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.46% | ||
| ROE | 1.23% | ||
| ROCE | 6.66% | ||
| ROIC | 5.26% | ||
| ROICexc | 5.26% | ||
| ROICexgc | 5.26% | ||
| OM | 27.79% | ||
| PM (TTM) | 2.32% | ||
| GM | 64.43% | ||
| FCFM | 44.5% |
ROA(3y)0.29%
ROA(5y)1.36%
ROE(3y)0.78%
ROE(5y)3.47%
ROIC(3y)4.45%
ROIC(5y)4.96%
ROICexc(3y)4.66%
ROICexc(5y)5.17%
ROICexgc(3y)4.66%
ROICexgc(5y)5.17%
ROCE(3y)5.64%
ROCE(5y)6.27%
ROICexcg growth 3Y1.91%
ROICexcg growth 5Y-1.97%
ROICexc growth 3Y1.91%
ROICexc growth 5Y-1.96%
OM growth 3Y-8.79%
OM growth 5Y-9.25%
PM growth 3Y-48.51%
PM growth 5Y-34.08%
GM growth 3Y-4.48%
GM growth 5Y-3.81%
F-Score6
Asset Turnover0.2
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.13 | ||
| Debt/FCF | 6.51 | ||
| Debt/EBITDA | 3.42 | ||
| Cap/Depr | 0.97% | ||
| Cap/Sales | 0.33% | ||
| Interest Coverage | 1.43 | ||
| Cash Conversion | 71.94% | ||
| Profit Quality | 1920.8% | ||
| Current Ratio | 0.34 | ||
| Quick Ratio | 0.33 | ||
| Altman-Z | N/A |
F-Score6
WACC7.57%
ROIC/WACC0.69
Cap/Depr(3y)2.14%
Cap/Depr(5y)3.66%
Cap/Sales(3y)0.83%
Cap/Sales(5y)1.34%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-41.43%
EPS 3Y-37.38%
EPS 5Y-23.1%
EPS Q2Q%4.76%
EPS Next Y70.85%
EPS Next 2Y54.82%
EPS Next 3Y31.41%
EPS Next 5YN/A
Revenue 1Y (TTM)10.07%
Revenue growth 3Y4.26%
Revenue growth 5Y2.43%
Sales Q2Q%9.65%
Revenue Next Year5.96%
Revenue Next 2Y3.45%
Revenue Next 3Y1.32%
Revenue Next 5YN/A
EBIT growth 1Y17.48%
EBIT growth 3Y-4.9%
EBIT growth 5Y-7.05%
EBIT Next Year71.57%
EBIT Next 3Y20.38%
EBIT Next 5YN/A
FCF growth 1Y34.58%
FCF growth 3Y-4.2%
FCF growth 5Y-3.85%
OCF growth 1Y30.16%
OCF growth 3Y-6.24%
OCF growth 5Y-3.71%