SUMMIT MIDSTREAM PARTNERS LP (SMLP)
US8661424098
We assign a fundamental rating of 2 out of 10 to SMLP. SMLP was compared to 213 industry peers in the Oil, Gas & Consumable Fuels industry. Both the profitability and financial health of SMLP have multiple concerns. SMLP has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
SMLP had negative earnings in the past year.
SMLP had a positive operating cash flow in the past year.
In the past 5 years SMLP reported 4 times negative net income.
SMLP had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a Return On Assets value of -2.53%, SMLP is not doing good in the industry: 84.04% of the companies in the same industry are doing better.
SMLP's Return On Equity of -7.48% is on the low side compared to the rest of the industry. SMLP is outperformed by 83.10% of its industry peers.
SMLP has a worse Return On Invested Capital (2.70%) than 78.87% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SMLP is significantly below the industry average of 43.80%.
The last Return On Invested Capital (2.70%) for SMLP is above the 3 year average (2.12%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.53% | ||
| ROE | -7.48% | ||
| ROIC | 2.7% |
ROA(3y)-3.09%
ROA(5y)-1.41%
ROE(3y)-8.77%
ROE(5y)-6.87%
ROIC(3y)2.12%
ROIC(5y)2.45%
1.3 Margins
With a Operating Margin value of 17.59%, SMLP perfoms like the industry average, outperforming 42.72% of the companies in the same industry.
In the last couple of years the Operating Margin of SMLP has declined.
SMLP has a Gross Margin (53.53%) which is in line with its industry peers.
In the last couple of years the Gross Margin of SMLP has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.59% | ||
| PM (TTM) | N/A | ||
| GM | 53.53% |
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%
2. Health
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.
SMLP has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, SMLP has more shares outstanding
The debt/assets ratio for SMLP is higher compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of SMLP is 25.36, which is on the high side as it means it would take SMLP, 25.36 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of SMLP (25.36) is worse than 65.26% of its industry peers.
SMLP has a Debt/Equity ratio of 1.73. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of SMLP (1.73) is worse than 82.16% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.73 | ||
| Debt/FCF | 25.36 | ||
| Altman-Z | N/A |
ROIC/WACC0.32
WACC8.47%
2.3 Liquidity
SMLP has a Current Ratio of 0.73. This is a bad value and indicates that SMLP is not financially healthy enough and could expect problems in meeting its short term obligations.
SMLP has a worse Current ratio (0.73) than 75.59% of its industry peers.
SMLP has a Quick Ratio of 0.73. This is a bad value and indicates that SMLP is not financially healthy enough and could expect problems in meeting its short term obligations.
SMLP's Quick ratio of 0.73 is on the low side compared to the rest of the industry. SMLP is outperformed by 69.01% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.73 | ||
| Quick Ratio | 0.73 |
3. Growth
3.1 Past
The earnings per share for SMLP have decreased strongly by -751.70% in the last year.
Looking at the last year, SMLP shows a very strong growth in Revenue. The Revenue has grown by 24.17%.
SMLP shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -5.43% yearly.
EPS 1Y (TTM)-751.7%
EPS 3YN/A
EPS 5YN/A
EPS growth Q2Q57.43%
Revenue 1Y (TTM)24.17%
Revenue growth 3Y-5.89%
Revenue growth 5Y-5.43%
Revenue growth Q2Q48.56%
3.2 Future
SMLP is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 46.24% yearly.
The Revenue is expected to grow by 20.03% on average over the next years. This is a very strong growth
EPS Next Y107.09%
EPS Next 2Y46.24%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year35.49%
Revenue Next 2Y20.03%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for SMLP. In the last year negative earnings were reported.
The Price/Forward Earnings ratio is 19.06, which indicates a rather expensive current valuation of SMLP.
Based on the Price/Forward Earnings ratio, SMLP is valued a bit more expensive than 67.61% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 20.20. SMLP is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 19.06 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SMLP indicates a slightly more expensive valuation: SMLP is more expensive than 60.09% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of SMLP indicates a rather cheap valuation: SMLP is cheaper than 83.10% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 5.94 | ||
| EV/EBITDA | 8.85 |
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.
A more expensive valuation may be justified as SMLP's earnings are expected to grow with 46.24% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y46.24%
EPS Next 3YN/A
5. Dividend
5.1 Amount
No dividends for SMLP!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
SUMMIT MIDSTREAM PARTNERS LP
NYSE:SMLP (5/17/2024, 7:26:51 PM)
After market: 33.05 0 (0%)33.05
-0.67 (-1.99%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap344.38M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 19.06 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.53% | ||
| ROE | -7.48% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 17.59% | ||
| PM (TTM) | N/A | ||
| GM | 53.53% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.18
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.73 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.73 | ||
| Quick Ratio | 0.73 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-751.7%
EPS 3YN/A
EPS 5Y
EPS growth Q2Q
EPS Next Y107.09%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)24.17%
Revenue growth 3Y-5.89%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y