NAVIOS MARITIME PARTNERS LP (NMM) Stock Fundamental Analysis
NYSE:NMM - New York Stock Exchange, Inc. - MHY622674098 - Currency: USD
We assign a fundamental rating of 4 out of 10 to NMM. NMM was compared to 32 industry peers in the Marine Transportation industry. NMM has a medium profitability rating, but doesn't score so well on its financial health evaluation. NMM is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year NMM was profitable.
NMM had a positive operating cash flow in the past year.
Of the past 5 years NMM 4 years were profitable.
NMM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of NMM (6.34%) is better than 75.00% of its industry peers.
NMM's Return On Equity of 11.58% is fine compared to the rest of the industry. NMM outperforms 71.88% of its industry peers.
The Return On Invested Capital of NMM (6.79%) is better than 68.75% of its industry peers.
The Average Return On Invested Capital over the past 3 years for NMM is in line with the industry average of 7.64%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.34% | ||
| ROE | 11.58% | ||
| ROIC | 6.79% |
ROA(3y)8.73%
ROA(5y)6.92%
ROE(3y)17.05%
ROE(5y)13.9%
ROIC(3y)8.26%
ROIC(5y)7.45%
1.3 Margins
NMM has a better Profit Margin (26.98%) than 78.13% of its industry peers.
NMM's Profit Margin has declined in the last couple of years.
With a decent Operating Margin value of 33.90%, NMM is doing good in the industry, outperforming 75.00% of the companies in the same industry.
NMM's Operating Margin has improved in the last couple of years.
NMM has a Gross Margin of 86.66%. This is amongst the best in the industry. NMM outperforms 93.75% of its industry peers.
In the last couple of years the Gross Margin of NMM has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 33.9% | ||
| PM (TTM) | 26.98% | ||
| GM | 86.66% |
OM growth 3Y-15.53%
OM growth 5Y6.73%
PM growth 3Y-27.55%
PM growth 5YN/A
GM growth 3Y-2.19%
GM growth 5Y-1.11%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), NMM is destroying value.
NMM has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, NMM has more shares outstanding
Compared to 1 year ago, NMM has a worse debt to assets ratio.
2.2 Solvency
NMM has a Debt/Equity ratio of 0.60. This is a neutral value indicating NMM is somewhat dependend on debt financing.
The Debt to Equity ratio of NMM (0.60) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.6 | ||
| Debt/FCF | N/A | ||
| Altman-Z | N/A |
ROIC/WACC0.71
WACC9.5%
2.3 Liquidity
A Current Ratio of 1.08 indicates that NMM should not have too much problems paying its short term obligations.
The Current ratio of NMM (1.08) is worse than 62.50% of its industry peers.
A Quick Ratio of 1.08 indicates that NMM should not have too much problems paying its short term obligations.
The Quick ratio of NMM (1.08) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.08 | ||
| Quick Ratio | 1.08 |
3. Growth
3.1 Past
The earnings per share for NMM have decreased strongly by -17.72% in the last year.
The Earnings Per Share has been growing by 34.83% on average over the past years. This is a very strong growth
The Revenue has been growing slightly by 2.08% in the past year.
Measured over the past years, NMM shows a very strong growth in Revenue. The Revenue has been growing by 43.48% on average per year.
EPS 1Y (TTM)-17.72%
EPS 3Y-7.6%
EPS 5Y34.83%
EPS Q2Q%-31.9%
Revenue 1Y (TTM)2.08%
Revenue growth 3Y23.21%
Revenue growth 5Y43.48%
Sales Q2Q%-4.53%
3.2 Future
The Earnings Per Share is expected to grow by 7.49% on average over the next years.
Based on estimates for the next years, NMM will show a small growth in Revenue. The Revenue will grow by 6.88% on average per year.
EPS Next Y-1.45%
EPS Next 2Y9.56%
EPS Next 3Y7.49%
EPS Next 5YN/A
Revenue Next Year1.56%
Revenue Next 2Y4.7%
Revenue Next 3Y6.88%
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.
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.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 3.98, the valuation of NMM can be described as very cheap.
68.75% of the companies in the same industry are more expensive than NMM, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of NMM to the average of the S&P500 Index (26.32), we can say NMM is valued rather cheaply.
The Price/Forward Earnings ratio is 3.10, which indicates a rather cheap valuation of NMM.
NMM's Price/Forward Earnings ratio is rather cheap when compared to the industry. NMM is cheaper than 87.50% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.13. NMM is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.98 | ||
| Fwd PE | 3.1 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NMM indicates a somewhat cheap valuation: NMM is cheaper than 65.63% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.43 |
4.3 Compensation for Growth
The decent profitability rating of NMM may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.11
EPS Next 2Y9.56%
EPS Next 3Y7.49%
5. Dividend
5.1 Amount
NMM has a yearly dividend return of 0.51%, which is pretty low.
NMM's Dividend Yield is comparable with the industry average which is at 8.11.
Compared to an average S&P500 Dividend Yield of 2.40, NMM's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.51% |
5.2 History
The dividend of NMM decreases each year by -29.94%.
NMM has paid a dividend for at least 10 years, which is a reliable track record.
NMM has decreased its dividend recently.
Dividend Growth(5Y)-29.94%
Div Incr Years0
Div Non Decr Years1
5.3 Sustainability
1.70% of the earnings are spent on dividend by NMM. This is a low number and sustainable payout ratio.
DP1.7%
EPS Next 2Y9.56%
EPS Next 3Y7.49%
41.39
+2.36 (+6.05%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners32.37%
Inst Owner Change-0.59%
Ins Owners29.82%
Ins Owner ChangeN/A
Market Cap1.22B
Analysts86.67
Price Target66.81 (61.42%)
Short Float %1.51%
Short Ratio2.42
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.51% |
Yearly Dividend0.2
Dividend Growth(5Y)-29.94%
DP1.7%
Div Incr Years0
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-5.51%
Min EPS beat(2)-21.93%
Max EPS beat(2)10.91%
EPS beat(4)3
Avg EPS beat(4)2.56%
Min EPS beat(4)-21.93%
Max EPS beat(4)14.57%
EPS beat(8)5
Avg EPS beat(8)6.63%
EPS beat(12)5
Avg EPS beat(12)-2.36%
EPS beat(16)7
Avg EPS beat(16)3.29%
Revenue beat(2)1
Avg Revenue beat(2)3.51%
Min Revenue beat(2)0%
Max Revenue beat(2)7.02%
Revenue beat(4)3
Avg Revenue beat(4)3.26%
Min Revenue beat(4)0%
Max Revenue beat(4)7.02%
Revenue beat(8)6
Avg Revenue beat(8)5.47%
Revenue beat(12)7
Avg Revenue beat(12)4.39%
Revenue beat(16)9
Avg Revenue beat(16)4.06%
PT rev (1m)0%
PT rev (3m)-10.27%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-40.33%
EPS NY rev (1m)0%
EPS NY rev (3m)-10.76%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.29%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.98 | ||
| Fwd PE | 3.1 | ||
| P/S | 0.91 | ||
| P/FCF | N/A | ||
| P/OCF | 2.52 | ||
| P/B | 0.39 | ||
| P/tB | 0.4 | ||
| EV/EBITDA | 4.43 |
EPS(TTM)10.4
EY25.13%
EPS(NY)13.37
Fwd EY32.31%
FCF(TTM)-8.94
FCFYN/A
OCF(TTM)16.39
OCFY39.61%
SpS45.24
BVpS105.35
TBVpS103.91
PEG (NY)N/A
PEG (5Y)0.11
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.34% | ||
| ROE | 11.58% | ||
| ROCE | 8.59% | ||
| ROIC | 6.79% | ||
| ROICexc | 7.23% | ||
| ROICexgc | 7.3% | ||
| OM | 33.9% | ||
| PM (TTM) | 26.98% | ||
| GM | 86.66% | ||
| FCFM | N/A |
ROA(3y)8.73%
ROA(5y)6.92%
ROE(3y)17.05%
ROE(5y)13.9%
ROIC(3y)8.26%
ROIC(5y)7.45%
ROICexc(3y)8.71%
ROICexc(5y)7.84%
ROICexgc(3y)8.84%
ROICexgc(5y)7.99%
ROCE(3y)10.45%
ROCE(5y)9.44%
ROICexcg growth 3Y-11.92%
ROICexcg growth 5Y14.56%
ROICexc growth 3Y-11.19%
ROICexc growth 5Y14.42%
OM growth 3Y-15.53%
OM growth 5Y6.73%
PM growth 3Y-27.55%
PM growth 5YN/A
GM growth 3Y-2.19%
GM growth 5Y-1.11%
F-Score5
Asset Turnover0.24
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.6 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 2.74 | ||
| Cap/Depr | 326.96% | ||
| Cap/Sales | 56% | ||
| Interest Coverage | 3.25 | ||
| Cash Conversion | 71.02% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.08 | ||
| Quick Ratio | 1.08 | ||
| Altman-Z | N/A |
F-Score5
WACC9.5%
ROIC/WACC0.71
Cap/Depr(3y)208.63%
Cap/Depr(5y)189.47%
Cap/Sales(3y)35.28%
Cap/Sales(5y)33.64%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-17.72%
EPS 3Y-7.6%
EPS 5Y34.83%
EPS Q2Q%-31.9%
EPS Next Y-1.45%
EPS Next 2Y9.56%
EPS Next 3Y7.49%
EPS Next 5YN/A
Revenue 1Y (TTM)2.08%
Revenue growth 3Y23.21%
Revenue growth 5Y43.48%
Sales Q2Q%-4.53%
Revenue Next Year1.56%
Revenue Next 2Y4.7%
Revenue Next 3Y6.88%
Revenue Next 5YN/A
EBIT growth 1Y-10.67%
EBIT growth 3Y4.08%
EBIT growth 5Y53.14%
EBIT Next Year42.01%
EBIT Next 3Y21.3%
EBIT Next 5YN/A
FCF growth 1Y-169.83%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-13.71%
OCF growth 3Y20.37%
OCF growth 5Y47.01%