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NUSTAR ENERGY LP (NS) Stock Fundamental Analysis

NYSE:NS - US67058H1023

21.96 USD
-0.41 (-1.83%)
Last: 5/2/2024, 8:10:13 PM
22 USD
+0.04 (+0.18%)
After Hours: 5/2/2024, 8:10:13 PM
Fundamental Rating

3

NS gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 210 industry peers in the Oil, Gas & Consumable Fuels industry. While NS is still in line with the averages on profitability rating, there are concerns on its financial health. 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

In the past year NS was profitable.
In the past year NS had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: NS reported negative net income in multiple 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 has a worse Return On Assets (0.71%) than 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.
NS's Return On Invested Capital of 7.74% is in line compared to the rest of the industry. NS outperforms 46.98% of its industry peers.
NS had an Average Return On Invested Capital over the past 3 years of 7.42%. This is significantly below the industry average of 21.91%.
The 3 year average ROIC (7.42%) for NS is below the current ROIC(7.74%), indicating increased profibility in the last year.
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

Looking at the Profit Margin, with a value of 2.11%, NS is doing worse than 73.02% of the companies in the same industry.
NS has a Operating Margin (27.84%) which is comparable to the rest of the industry.
NS's Operating Margin has improved in the last couple of years.
NS's Gross Margin of 36.89% is in line compared to the rest of the industry. NS outperforms 43.72% of its industry peers.
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.
NS has more shares outstanding than it did 1 year ago.
The number of shares outstanding for NS has been increased compared to 5 years ago.
The debt/assets ratio for NS is higher compared to a year ago.
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.
The Debt to FCF ratio of NS (10.32) is comparable to the rest of the industry.
A Debt/Equity ratio of 3.33 is on the high side and indicates that NS has dependencies on debt financing.
With a Debt to Equity ratio value of 3.33, NS is not doing good in the industry: 87.91% of the companies in the same industry are doing better.
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

A Current Ratio of 0.81 indicates that NS may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.81, NS is doing worse than 72.09% of the companies in the same industry.
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.
The Quick ratio of NS (0.73) is worse than 67.91% of its industry peers.
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

The Earnings Per Share is expected to grow by 21.67% on average over the next years. This is a very strong growth
Based on estimates for the next years, NS will show a small growth in Revenue. The Revenue will grow by 0.91% on average per year.
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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

The Price/Earnings ratio is 27.11, which means the current valuation is very expensive for NS.
Based on the Price/Earnings ratio, NS is valued a bit more expensive than 75.81% of the companies in the same industry.
NS is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.07, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 13.56 indicates a correct valuation of NS.
The rest of the industry has a similar Price/Forward Earnings ratio as NS.
NS's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.59.
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

60.93% of the companies in the same industry are cheaper than NS, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, NS is valued a bit cheaper than the industry average as 69.30% of the companies are valued more expensively.
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.
NS's earnings are expected to grow with 21.67% in the coming years. This may justify a more expensive valuation.
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.
Compared to an average industry Dividend Yield of 6.02, NS pays a bit more dividend than its industry peers.
NS's Dividend Yield is rather good when compared to the S&P500 average which is at 2.46.
Industry RankSector Rank
Dividend Yield 7.29%

5.2 History

The dividend of NS decreases each year by -8.34%.
NS has paid a dividend for at least 10 years, which is 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 Change0%
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%