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SHELL MIDSTREAM PARTNERS LP (SHLX) Stock Fundamental Analysis

NYSE:SHLX - New York Stock Exchange, Inc. - US8226341019 - Currency: USD

15.82  -0.01 (-0.06%)

After market: 15.84 +0.02 (+0.13%)

Fundamental Rating

2

SHLX 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 SHLX have multiple concerns. SHLX is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

SHLX had positive earnings in the past year.
In the past year SHLX had a positive cash flow from operations.
SHLX Yearly Net Income VS EBIT VS OCF VS FCFSHLX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 200M 400M 600M

1.2 Ratios

Industry RankSector Rank
ROA 24.07%
ROE N/A
ROIC 9.12%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
SHLX Yearly ROA, ROE, ROICSHLX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 0 100 -100

1.3 Margins

SHLX's Profit Margin has improved in the last couple of years.
In the last couple of years the Operating Margin of SHLX has remained more or less at the same level.
Industry RankSector Rank
OM 39.24%
PM (TTM) 97.11%
GM N/A
OM growth 3Y4.02%
OM growth 5Y0.99%
PM growth 3Y6.21%
PM growth 5Y17.82%
GM growth 3YN/A
GM growth 5YN/A
SHLX Yearly Profit, Operating, Gross MarginsSHLX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 20 40 60 80 100

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2

2. Health

2.1 Basic Checks

SHLX has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for SHLX remains at a similar level compared to 1 year ago.
Compared to 1 year ago, SHLX has a worse debt to assets ratio.
SHLX Yearly Shares OutstandingSHLX Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 100M 200M 300M
SHLX Yearly Total Debt VS Total AssetsSHLX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 500M 1B 1.5B 2B 2.5B

2.2 Solvency

SHLX has a debt to FCF ratio of 4.36. This is a neutral value as SHLX would need 4.36 years to pay back of all of its debts.
SHLX has a Debt/Equity ratio of -5.22. This is a healthy value indicating a solid balance between debt and equity.
Industry RankSector Rank
Debt/Equity -5.22
Debt/FCF 4.36
Altman-Z N/A
ROIC/WACC1.16
WACC7.88%
SHLX Yearly LT Debt VS Equity VS FCFSHLX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 0 1B 2B

2.3 Liquidity

SHLX has a Current Ratio of 1.18. This is a normal value and indicates that SHLX is financially healthy and should not expect problems in meeting its short term obligations.
A Quick Ratio of 1.18 indicates that SHLX should not have too much problems paying its short term obligations.
Industry RankSector Rank
Current Ratio 1.18
Quick Ratio 1.18
SHLX Yearly Current Assets VS Current LiabilitesSHLX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 100M 200M 300M 400M

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3

3. Growth

3.1 Past

SHLX shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -8.33%.
Measured over the past years, SHLX shows a decrease in Earnings Per Share. The EPS has been decreasing by -1.23% on average per year.
SHLX shows a small growth in Revenue. In the last year, the Revenue has grown by 4.93%.
Measured over the past years, SHLX shows a small growth in Revenue. The Revenue has been growing by 4.19% on average per year.
EPS 1Y (TTM)-8.33%
EPS 3Y-5.47%
EPS 5Y-1.23%
EPS Q2Q%-8.33%
Revenue 1Y (TTM)4.93%
Revenue growth 3Y1.95%
Revenue growth 5Y4.19%
Sales Q2Q%0.68%

3.2 Future

The Earnings Per Share is expected to grow by 7.99% on average over the next years.
The Revenue is expected to grow by 1.42% on average over the next years.
EPS Next Y18.12%
EPS Next 2Y12.1%
EPS Next 3Y9.97%
EPS Next 5Y7.99%
Revenue Next Year5.03%
Revenue Next 2Y1.51%
Revenue Next 3Y2.34%
Revenue Next 5Y1.42%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better 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.
SHLX Yearly Revenue VS EstimatesSHLX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M
SHLX Yearly EPS VS EstimatesSHLX Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 13.07, which indicates a correct valuation of SHLX.
SHLX's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.25.
The Price/Forward Earnings ratio is 10.07, which indicates a very decent valuation of SHLX.
SHLX is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.27, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 13.07
Fwd PE 10.07
SHLX Price Earnings VS Forward Price EarningsSHLX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF 10.58
EV/EBITDA 31.69
SHLX Per share dataSHLX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 -0.5 1 -1 1.5

4.3 Compensation for Growth

SHLX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.72
PEG (5Y)N/A
EPS Next 2Y12.1%
EPS Next 3Y9.97%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 7.59%, SHLX is a good candidate for dividend investing.
SHLX's Dividend Yield is rather good when compared to the S&P500 average which is at 2.37.
Industry RankSector Rank
Dividend Yield 7.59%

5.2 History

The dividend of SHLX has a limited annual growth rate of 2.10%.
SHLX has been paying a dividend for over 5 years, so it has already some track record.
Dividend Growth(5Y)2.1%
Div Incr YearsN/A
Div Non Decr YearsN/A
SHLX Yearly Dividends per shareSHLX Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 0.5 1 1.5

5.3 Sustainability

SHLX pays out 96.83% of its income as dividend. This is not a sustainable payout ratio.
The dividend of SHLX is growing, but earnings are growing more, so the dividend growth is sustainable.
DP96.83%
EPS Next 2Y12.1%
EPS Next 3Y9.97%
SHLX Yearly Income VS Free CF VS DividendSHLX Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 200M 400M 600M
SHLX Dividend Payout.SHLX Dividend Payout, showing the Payout Ratio.SHLX Dividend Payout.PayoutRetained Earnings

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SHELL MIDSTREAM PARTNERS LP

NYSE:SHLX (10/18/2022, 8:12:57 PM)

After market: 15.84 +0.02 (+0.13%)

15.82

-0.01 (-0.06%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)07-28 2022-07-28/amc
Earnings (Next)11-08 2022-11-08/bmo
Inst Owners0.1%
Inst Owner Change0%
Ins Owners31.5%
Ins Owner Change0%
Market Cap6.22B
Analysts47.27
Price Target15.24 (-3.67%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 7.59%
Yearly Dividend1.52
Dividend Growth(5Y)2.1%
DP96.83%
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-10.74%
Min EPS beat(2)-14.75%
Max EPS beat(2)-6.73%
EPS beat(4)0
Avg EPS beat(4)-17.95%
Min EPS beat(4)-37.39%
Max EPS beat(4)-6.73%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)3.69%
Min Revenue beat(2)-2.35%
Max Revenue beat(2)9.72%
Revenue beat(4)2
Avg Revenue beat(4)0.85%
Min Revenue beat(4)-6.87%
Max Revenue beat(4)9.72%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 13.07
Fwd PE 10.07
P/S 11.25
P/FCF 10.58
P/OCF 10.34
P/B N/A
P/tB 10.1
EV/EBITDA 31.69
EPS(TTM)1.21
EY7.65%
EPS(NY)1.57
Fwd EY9.93%
FCF(TTM)1.5
FCFY9.45%
OCF(TTM)1.53
OCFY9.68%
SpS1.41
BVpS-1.13
TBVpS1.57
PEG (NY)0.72
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 24.07%
ROE N/A
ROCE N/A
ROIC 9.12%
ROICexc N/A
ROICexgc 9.12%
OM 39.24%
PM (TTM) 97.11%
GM N/A
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3Y4.63%
ROICexcg growth 5Y-6.26%
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y4.02%
OM growth 5Y0.99%
PM growth 3Y6.21%
PM growth 5Y17.82%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.25
Health
Industry RankSector Rank
Debt/Equity -5.22
Debt/FCF 4.36
Debt/EBITDA N/A
Cap/Depr 28%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 109.5%
Current Ratio 1.18
Quick Ratio 1.18
Altman-Z N/A
F-Score5
WACC7.88%
ROIC/WACC1.16
Cap/Depr(3y)51.18%
Cap/Depr(5y)77.93%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)109.57%
Profit Quality(5y)110.89%
High Growth Momentum
Growth
EPS 1Y (TTM)-8.33%
EPS 3Y-5.47%
EPS 5Y-1.23%
EPS Q2Q%-8.33%
EPS Next Y18.12%
EPS Next 2Y12.1%
EPS Next 3Y9.97%
EPS Next 5Y7.99%
Revenue 1Y (TTM)4.93%
Revenue growth 3Y1.95%
Revenue growth 5Y4.19%
Sales Q2Q%0.68%
Revenue Next Year5.03%
Revenue Next 2Y1.51%
Revenue Next 3Y2.34%
Revenue Next 5Y1.42%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-8.84%
FCF growth 3Y9.38%
FCF growth 5Y9.41%
OCF growth 1Y-9.88%
OCF growth 3Y6.38%
OCF growth 5Y7.35%