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NUSTAR ENERGY LP (NS) Stock Fundamental Analysis

NYSE:NS - New York Stock Exchange, Inc. - US67058H1023 - Currency: USD

21.96  -0.41 (-1.83%)

After market: 22 +0.04 (+0.18%)

Fundamental Rating

3

NS gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 213 industry peers in the Oil, Gas & Consumable Fuels industry. There are concerns on the financial health of NS while its profitability can be described as average. NS is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

NS had positive earnings in the past year.
NS had a positive operating cash flow in the past year.
In multiple years NS reported negative net income over the last 5 years.
In the past 5 years NS always reported a positive cash flow from operatings.
NS Yearly Net Income VS EBIT VS OCF VS FCFNS 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 2023 0 200M -200M 400M

1.2 Ratios

NS's Return On Assets of 0.71% is on the low side compared to the rest of the industry. NS is outperformed by 77.67% of its industry peers.
With a Return On Equity value of 3.38%, NS is not doing good in the industry: 74.42% of the companies in the same industry are doing better.
Looking at the Return On Invested Capital, with a value of 7.74%, NS is in line with its industry, outperforming 46.98% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for NS is significantly below the industry average of 25.69%.
The last Return On Invested Capital (7.74%) for NS is above the 3 year average (7.42%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.71%
ROE 3.38%
ROIC 7.74%
ROA(3y)0.14%
ROA(5y)-1.9%
ROE(3y)1.41%
ROE(5y)-5.01%
ROIC(3y)7.42%
ROIC(5y)6.81%
NS Yearly ROA, ROE, ROICNS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10

1.3 Margins

NS has a worse Profit Margin (2.11%) than 73.02% of its industry peers.
NS's Operating Margin of 27.84% is in line compared to the rest of the industry. NS outperforms 56.28% of its industry peers.
NS's Operating Margin has improved in the last couple of years.
NS has a Gross Margin (36.89%) which is comparable to the rest of the industry.
In the last couple of years the Gross Margin of NS has grown nicely.
Industry RankSector Rank
OM 27.84%
PM (TTM) 2.11%
GM 36.89%
OM growth 3Y-0.68%
OM growth 5Y5.39%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.12%
GM growth 5Y4.79%
NS Yearly Profit, Operating, Gross MarginsNS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20

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1

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), NS is creating some value.
Compared to 1 year ago, NS has more shares outstanding
The number of shares outstanding for NS has been increased compared to 5 years ago.
Compared to 1 year ago, NS has a worse debt to assets ratio.
NS Yearly Shares OutstandingNS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M
NS Yearly Total Debt VS Total AssetsNS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

2.2 Solvency

The Debt to FCF ratio of NS is 10.32, which is on the high side as it means it would take NS, 10.32 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 10.32, NS perfoms like the industry average, outperforming 41.40% of the companies in the same industry.
NS has a Debt/Equity ratio of 3.33. This is a high value indicating a heavy dependency on external financing.
NS has a Debt to Equity ratio of 3.33. This is amonst the worse of the industry: NS underperforms 87.91% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.33
Debt/FCF 10.32
Altman-Z N/A
ROIC/WACC1.06
WACC7.28%
NS Yearly LT Debt VS Equity VS FCFNS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B 2B 3B

2.3 Liquidity

NS has a Current Ratio of 0.81. This is a bad value and indicates that NS is not financially healthy enough and could expect problems in meeting its short term obligations.
NS has a Current ratio of 0.81. This is in the lower half of the industry: NS underperforms 72.09% of its industry peers.
NS has a Quick Ratio of 0.81. This is a bad value and indicates that NS is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.73, NS is not doing good in the industry: 67.91% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.81
Quick Ratio 0.73
NS Yearly Current Assets VS Current LiabilitesNS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M

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3

3. Growth

3.1 Past

NS shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.22%.
The Earnings Per Share has been decreasing by -4.28% on average over the past years.
The Revenue has decreased by -2.17% in the past year.
Measured over the past years, NS shows a small growth in Revenue. The Revenue has been growing by 1.46% on average per year.
EPS 1Y (TTM)-1.22%
EPS 3YN/A
EPS 5Y-4.28%
EPS Q2Q%-37.5%
Revenue 1Y (TTM)-2.17%
Revenue growth 3Y3.32%
Revenue growth 5Y1.46%
Sales Q2Q%-0.78%

3.2 Future

Based on estimates for the next years, NS will show a very strong growth in Earnings Per Share. The EPS will grow by 21.67% on average per year.
NS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.91% yearly.
EPS Next Y53.78%
EPS Next 2Y34.12%
EPS Next 3Y21.67%
EPS Next 5YN/A
Revenue Next Year6.8%
Revenue Next 2Y3.96%
Revenue Next 3Y0.91%
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.
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.
NS Yearly Revenue VS EstimatesNS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1B 2B 3B
NS Yearly EPS VS EstimatesNS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 2 -2

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4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 27.11 indicates a quite expensive valuation of NS.
Based on the Price/Earnings ratio, NS is valued a bit more expensive than the industry average as 75.81% of the companies are valued more cheaply.
When comparing the Price/Earnings ratio of NS to the average of the S&P500 Index (24.12), we can say NS is valued inline with the index average.
Based on the Price/Forward Earnings ratio of 13.56, the valuation of NS can be described as correct.
NS's Price/Forward Earnings ratio is in line with the industry average.
The average S&P500 Price/Forward Earnings ratio is at 20.42. NS is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 27.11
Fwd PE 13.56
NS Price Earnings VS Forward Price EarningsNS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NS is valued a bit more expensive than 60.93% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, NS is valued a bit cheaper than 69.30% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.44
EV/EBITDA 8.68
NS Per share dataNS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

4.3 Compensation for Growth

NS'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 NS's earnings are expected to grow with 21.67% in the coming years.
PEG (NY)0.5
PEG (5Y)N/A
EPS Next 2Y34.12%
EPS Next 3Y21.67%

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5

5. Dividend

5.1 Amount

NS has a Yearly Dividend Yield of 7.29%, which is a nice return.
NS's Dividend Yield is a higher than the industry average which is at 7.32.
NS's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
Industry RankSector Rank
Dividend Yield 7.29%

5.2 History

The dividend of NS decreases each year by -8.34%.
NS has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of NS decreased in the last 3 years.
Dividend Growth(5Y)-8.34%
Div Incr Years0
Div Non Decr Years2
NS Yearly Dividends per shareNS Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 2 3 4

5.3 Sustainability

861.28% of the earnings are spent on dividend by NS. This is not a sustainable payout ratio.
DP861.28%
EPS Next 2Y34.12%
EPS Next 3Y21.67%
NS Yearly Income VS Free CF VS DividendNS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M 400M
NS Dividend Payout.NS Dividend Payout, showing the Payout Ratio.NS Dividend Payout.PayoutRetained Earnings

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NUSTAR ENERGY LP

NYSE:NS (5/2/2024, 8:10:13 PM)

After market: 22 +0.04 (+0.18%)

21.96

-0.41 (-1.83%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)05-02 2024-05-02/bmo
Earnings (Next)08-01 2024-08-01/bmo
Inst Owners0.18%
Inst Owner Change-93.52%
Ins Owners8.18%
Ins Owner Change0%
Market Cap2.78B
Analysts46.67
Price Target23.46 (6.83%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.29%
Yearly Dividend2.53
Dividend Growth(5Y)-8.34%
DP861.28%
Div Incr Years0
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-9.88%
Min EPS beat(2)-51.46%
Max EPS beat(2)31.7%
EPS beat(4)1
Avg EPS beat(4)-29.85%
Min EPS beat(4)-66.85%
Max EPS beat(4)31.7%
EPS beat(8)1
Avg EPS beat(8)-34.12%
EPS beat(12)2
Avg EPS beat(12)-78.1%
EPS beat(16)2
Avg EPS beat(16)-118.28%
Revenue beat(2)1
Avg Revenue beat(2)-3.37%
Min Revenue beat(2)-7.85%
Max Revenue beat(2)1.12%
Revenue beat(4)2
Avg Revenue beat(4)-2.12%
Min Revenue beat(4)-7.85%
Max Revenue beat(4)2.69%
Revenue beat(8)4
Avg Revenue beat(8)-4.7%
Revenue beat(12)7
Avg Revenue beat(12)-1.56%
Revenue beat(16)8
Avg Revenue beat(16)-1.82%
PT rev (1m)0.73%
PT rev (3m)21.97%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-4.58%
EPS NY rev (1m)0%
EPS NY rev (3m)4.96%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.81%
Revenue NY rev (1m)0%
Revenue NY rev (3m)2.72%
Valuation
Industry RankSector Rank
PE 27.11
Fwd PE 13.56
P/S 1.7
P/FCF 8.44
P/OCF 5.68
P/B 2.73
P/tB N/A
EV/EBITDA 8.68
EPS(TTM)0.81
EY3.69%
EPS(NY)1.62
Fwd EY7.37%
FCF(TTM)2.6
FCFY11.85%
OCF(TTM)3.87
OCFY17.61%
SpS12.89
BVpS8.05
TBVpS-1.42
PEG (NY)0.5
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.71%
ROE 3.38%
ROCE 9.8%
ROIC 7.74%
ROICexc 7.75%
ROICexgc 10.46%
OM 27.84%
PM (TTM) 2.11%
GM 36.89%
FCFM 20.19%
ROA(3y)0.14%
ROA(5y)-1.9%
ROE(3y)1.41%
ROE(5y)-5.01%
ROIC(3y)7.42%
ROIC(5y)6.81%
ROICexc(3y)7.43%
ROICexc(5y)6.85%
ROICexgc(3y)10.05%
ROICexgc(5y)9.37%
ROCE(3y)9.39%
ROCE(5y)8.62%
ROICexcg growth 3Y8.07%
ROICexcg growth 5Y11.61%
ROICexc growth 3Y7.97%
ROICexc growth 5Y12.53%
OM growth 3Y-0.68%
OM growth 5Y5.39%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.12%
GM growth 5Y4.79%
F-Score4
Asset Turnover0.34
Health
Industry RankSector Rank
Debt/Equity 3.33
Debt/FCF 10.32
Debt/EBITDA 4.77
Cap/Depr 62.33%
Cap/Sales 9.81%
Interest Coverage 1.93
Cash Conversion 68.84%
Profit Quality 955.94%
Current Ratio 0.81
Quick Ratio 0.73
Altman-Z N/A
F-Score4
WACC7.28%
ROIC/WACC1.06
Cap/Depr(3y)59.31%
Cap/Depr(5y)87.39%
Cap/Sales(3y)9.52%
Cap/Sales(5y)15.51%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1.22%
EPS 3YN/A
EPS 5Y-4.28%
EPS Q2Q%-37.5%
EPS Next Y53.78%
EPS Next 2Y34.12%
EPS Next 3Y21.67%
EPS Next 5YN/A
Revenue 1Y (TTM)-2.17%
Revenue growth 3Y3.32%
Revenue growth 5Y1.46%
Sales Q2Q%-0.78%
Revenue Next Year6.8%
Revenue Next 2Y3.96%
Revenue Next 3Y0.91%
Revenue Next 5YN/A
EBIT growth 1Y-3.23%
EBIT growth 3Y2.62%
EBIT growth 5Y6.92%
EBIT Next Year30.44%
EBIT Next 3Y10.81%
EBIT Next 5Y7.72%
FCF growth 1Y0.35%
FCF growth 3Y3.8%
FCF growth 5Y33.44%
OCF growth 1Y-2.43%
OCF growth 3Y-0.75%
OCF growth 5Y-1.13%