SUMMIT MIDSTREAM PARTNERS LP (SMLP) Fundamental Analysis & Valuation

NYSE:SMLP • US8661424098

Current stock price

38.05 USD
+1.34 (+3.65%)
Last:

This SMLP fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

3

1. SMLP Profitability Analysis

1.1 Basic Checks

  • SMLP had positive earnings in the past year.
  • In the past year SMLP had a positive cash flow from operations.
  • In the past 5 years SMLP reported 4 times negative net income.
  • Each year in the past 5 years SMLP had a positive operating cash flow.
SMLP Yearly Net Income VS EBIT VS OCF VS FCFSMLP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M -200M

1.2 Ratios

  • SMLP has a worse Return On Assets (3.51%) than 61.24% of its industry peers.
  • The Return On Equity of SMLP (8.34%) is comparable to the rest of the industry.
  • With a Return On Invested Capital value of 3.07%, SMLP is not doing good in the industry: 72.25% of the companies in the same industry are doing better.
  • Measured over the past 3 years, the Average Return On Invested Capital for SMLP is significantly below the industry average of 22.49%.
  • The last Return On Invested Capital (3.07%) for SMLP is above the 3 year average (2.12%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 3.51%
ROE 8.34%
ROIC 3.07%
ROA(3y)-3.09%
ROA(5y)-1.41%
ROE(3y)-8.77%
ROE(5y)-6.87%
ROIC(3y)2.12%
ROIC(5y)2.45%
SMLP Yearly ROA, ROE, ROICSMLP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20 -20 -30

1.3 Margins

  • With a decent Profit Margin value of 17.49%, SMLP is doing good in the industry, outperforming 60.29% of the companies in the same industry.
  • SMLP has a Operating Margin (18.04%) which is in line with its industry peers.
  • SMLP's Operating Margin has declined in the last couple of years.
  • SMLP has a Gross Margin of 54.11%. This is comparable to the rest of the industry: SMLP outperforms 59.81% of its industry peers.
  • In the last couple of years the Gross Margin of SMLP has declined.
Industry RankSector Rank
OM 18.04%
PM (TTM) 17.49%
GM 54.11%
OM growth 3Y-0.81%
OM growth 5Y-8.9%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-7.66%
GM growth 5Y-2.13%
SMLP Yearly Profit, Operating, Gross MarginsSMLP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40 -40 60

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3

2. SMLP Health Analysis

2.1 Basic Checks

  • SMLP has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, SMLP has more shares outstanding
  • Compared to 1 year ago, SMLP has a worse debt to assets ratio.
SMLP Yearly Shares OutstandingSMLP Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2M 4M 6M 8M 10M
SMLP Yearly Total Debt VS Total AssetsSMLP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.2 Solvency

  • SMLP has a debt to FCF ratio of 22.27. This is a negative value and a sign of low solvency as SMLP would need 22.27 years to pay back of all of its debts.
  • SMLP has a Debt to FCF ratio of 22.27. This is in the lower half of the industry: SMLP underperforms 64.11% of its industry peers.
  • SMLP has a Debt/Equity ratio of 1.16. This is a high value indicating a heavy dependency on external financing.
  • Looking at the Debt to Equity ratio, with a value of 1.16, SMLP is doing worse than 75.12% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF 22.27
Altman-Z N/A
ROIC/WACC0.38
WACC8.17%
SMLP Yearly LT Debt VS Equity VS FCFSMLP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 0 500M 1B 1.5B

2.3 Liquidity

  • A Current Ratio of 2.64 indicates that SMLP has no problem at all paying its short term obligations.
  • SMLP has a better Current ratio (2.64) than 78.47% of its industry peers.
  • SMLP has a Quick Ratio of 2.64. This indicates that SMLP is financially healthy and has no problem in meeting its short term obligations.
  • The Quick ratio of SMLP (2.64) is better than 80.38% of its industry peers.
Industry RankSector Rank
Current Ratio 2.64
Quick Ratio 2.64
SMLP Yearly Current Assets VS Current LiabilitesSMLP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

2

3. SMLP Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 145.90% over the past year.
  • The Revenue has grown by 20.54% in the past year. This is a very strong growth!
  • Measured over the past years, SMLP shows a decrease in Revenue. The Revenue has been decreasing by -1.96% on average per year.
EPS 1Y (TTM)145.9%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%730.2%
Revenue 1Y (TTM)20.54%
Revenue growth 3Y6.17%
Revenue growth 5Y-1.96%
Sales Q2Q%5.66%

3.2 Future

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next Y95.4%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year6.33%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
  • No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
SMLP Yearly Revenue VS EstimatesSMLP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
SMLP Yearly EPS VS EstimatesSMLP Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30 40

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5

4. SMLP Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 5.31 indicates a rather cheap valuation of SMLP.
  • 87.08% of the companies in the same industry are more expensive than SMLP, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of SMLP to the average of the S&P500 Index (25.79), we can say SMLP is valued rather cheaply.
  • A Price/Forward Earnings ratio of 21.94 indicates a rather expensive valuation of SMLP.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of SMLP indicates a slightly more expensive valuation: SMLP is more expensive than 69.86% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.80. SMLP is around the same levels.
Industry RankSector Rank
PE 5.31
Fwd PE 21.94
SMLP Price Earnings VS Forward Price EarningsSMLP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SMLP is on the same level as its industry peers.
  • 74.16% of the companies in the same industry are more expensive than SMLP, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 7.81
EV/EBITDA 5.92
SMLP Per share dataSMLP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.06
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. SMLP Dividend Analysis

5.1 Amount

  • No dividends for SMLP!.
Industry RankSector Rank
Dividend Yield N/A

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SMLP Fundamentals: All Metrics, Ratios and Statistics

SUMMIT MIDSTREAM PARTNERS LP

NYSE:SMLP (7/31/2024, 8:04:00 PM)

38.05

+1.34 (+3.65%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)08-08
Earnings (Next)10-31
Inst Owners9.09%
Inst Owner Change0%
Ins Owners59.18%
Ins Owner Change0%
Market Cap405.23M
Revenue(TTM)465.29M
Net Income(TTM)81.38M
Analysts43.33
Price Target22.44 (-41.02%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.63
Dividend Growth(5Y)-56.93%
DP8.04%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
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)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
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)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 5.31
Fwd PE 21.94
P/S 0.87
P/FCF 7.81
P/OCF 3.35
P/B 0.42
P/tB 0.49
EV/EBITDA 5.92
EPS(TTM)7.17
EY18.84%
EPS(NY)1.73
Fwd EY4.56%
FCF(TTM)4.88
FCFY12.81%
OCF(TTM)11.34
OCFY29.82%
SpS43.69
BVpS91.59
TBVpS77.76
PEG (NY)0.06
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA 3.51%
ROE 8.34%
ROCE 3.88%
ROIC 3.07%
ROICexc 3.65%
ROICexgc 3.97%
OM 18.04%
PM (TTM) 17.49%
GM 54.11%
FCFM 11.16%
ROA(3y)-3.09%
ROA(5y)-1.41%
ROE(3y)-8.77%
ROE(5y)-6.87%
ROIC(3y)2.12%
ROIC(5y)2.45%
ROICexc(3y)2.13%
ROICexc(5y)2.46%
ROICexgc(3y)2.3%
ROICexgc(5y)2.68%
ROCE(3y)2.68%
ROCE(5y)3.1%
ROICexgc growth 3Y6.04%
ROICexgc growth 5Y-7.29%
ROICexc growth 3Y6.34%
ROICexc growth 5Y-6.78%
OM growth 3Y-0.81%
OM growth 5Y-8.9%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-7.66%
GM growth 5Y-2.13%
F-Score7
Asset Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF 22.27
Debt/EBITDA 5.48
Cap/Depr 56.62%
Cap/Sales 14.81%
Interest Coverage 0.66
Cash Conversion 58.76%
Profit Quality 63.8%
Current Ratio 2.64
Quick Ratio 2.64
Altman-Z N/A
F-Score7
WACC8.17%
ROIC/WACC0.38
Cap/Depr(3y)33.98%
Cap/Depr(5y)60.3%
Cap/Sales(3y)9.84%
Cap/Sales(5y)16.37%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)145.9%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%730.2%
EPS Next Y95.4%
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)20.54%
Revenue growth 3Y6.17%
Revenue growth 5Y-1.96%
Sales Q2Q%5.66%
Revenue Next Year6.33%
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y71.29%
EBIT growth 3Y5.3%
EBIT growth 5Y-10.69%
EBIT Next Year156.45%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-59.63%
FCF growth 3Y-28.02%
FCF growth 5Y16.27%
OCF growth 1Y-24.34%
OCF growth 3Y-13.87%
OCF growth 5Y-11.05%

SUMMIT MIDSTREAM PARTNERS LP / SMLP Fundamental Analysis FAQ

What is the fundamental rating for SMLP stock?

ChartMill assigns a fundamental rating of 3 / 10 to SMLP.


What is the valuation status for SMLP stock?

ChartMill assigns a valuation rating of 5 / 10 to SUMMIT MIDSTREAM PARTNERS LP (SMLP). This can be considered as Fairly Valued.


Can you provide the profitability details for SUMMIT MIDSTREAM PARTNERS LP?

SUMMIT MIDSTREAM PARTNERS LP (SMLP) has a profitability rating of 3 / 10.


What is the valuation of SUMMIT MIDSTREAM PARTNERS LP based on its PE and PB ratios?

The Price/Earnings (PE) ratio for SUMMIT MIDSTREAM PARTNERS LP (SMLP) is 5.31 and the Price/Book (PB) ratio is 0.42.


What is the earnings growth outlook for SUMMIT MIDSTREAM PARTNERS LP?

The Earnings per Share (EPS) of SUMMIT MIDSTREAM PARTNERS LP (SMLP) is expected to grow by 95.4% in the next year.