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SUMMIT MIDSTREAM PARTNERS LP (SMLP) Stock Fundamental Analysis

USA - NYSE:SMLP - US8661424098

38.05 USD
+1.34 (+3.65%)
Last: 7/31/2024, 8:04:00 PM
Fundamental Rating

3

Overall SMLP gets a fundamental rating of 3 out of 10. We evaluated SMLP against 210 industry peers in the Oil, Gas & Consumable Fuels industry. Both the profitability and financial health of SMLP have multiple concerns. SMLP has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

SMLP had positive earnings in the past year.
SMLP had a positive operating cash flow in the past year.
SMLP had negative earnings in 4 of the past 5 years.
In the past 5 years SMLP always reported a positive cash flow from operatings.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M -200M

1.2 Ratios

With a Return On Assets value of 3.51%, SMLP is not doing good in the industry: 61.24% of the companies in the same industry are doing better.
SMLP has a Return On Equity (8.34%) which is in line with its industry peers.
The Return On Invested Capital of SMLP (3.07%) is worse than 72.25% of its industry peers.
The Average Return On Invested Capital over the past 3 years for SMLP is significantly below the industry average of 21.85%.
The 3 year average ROIC (2.12%) for SMLP is below the current ROIC(3.07%), indicating increased profibility in the last year.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20 -20 -30

1.3 Margins

SMLP's Profit Margin of 17.49% is fine compared to the rest of the industry. SMLP outperforms 60.29% of its industry peers.
SMLP's Operating Margin of 18.04% is in line compared to the rest of the industry. SMLP outperforms 47.37% of its industry peers.
In the last couple of years the Operating Margin of SMLP has declined.
Looking at the Gross Margin, with a value of 54.11%, SMLP is in line with its industry, outperforming 59.81% of the companies in the same industry.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40 -40 60

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SMLP is destroying value.
The number of shares outstanding for SMLP has been increased compared to 1 year ago.
The number of shares outstanding for SMLP has been increased compared to 5 years ago.
SMLP has a worse debt/assets ratio than last year.
SMLP Yearly Shares OutstandingSMLP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 5M 10M 15M 20M 25M
SMLP Yearly Total Debt VS Total AssetsSMLP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 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.
The Debt to FCF ratio of SMLP (22.27) is worse than 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.
SMLP's Debt to Equity ratio of 1.16 is on the low side compared to the rest of the industry. SMLP is outperformed by 75.12% of its industry peers.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M 1B 1.5B

2.3 Liquidity

SMLP has a Current Ratio of 2.64. This indicates that SMLP is financially healthy and has no problem in meeting its short term obligations.
SMLP has a Current ratio of 2.64. This is in the better half of the industry: SMLP outperforms 78.47% of its industry peers.
A Quick Ratio of 2.64 indicates that SMLP has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 2.64, SMLP belongs to the top of the industry, outperforming 80.38% of the companies in the same industry.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M

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2

3. Growth

3.1 Past

SMLP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 145.90%, which is quite impressive.
SMLP shows a strong growth in Revenue. In the last year, the Revenue has grown by 20.54%.
SMLP shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.96% yearly.
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 2014 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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30 40

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 5.31, which 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.
Compared to an average S&P500 Price/Earnings ratio of 25.89, 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.
When comparing the Price/Forward Earnings ratio of SMLP to the average of the S&P500 Index (34.59), we can say SMLP is valued slightly cheaper.
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 10 20 30

4.2 Price Multiples

SMLP's Enterprise Value to EBITDA is on the same level as the industry average.
SMLP's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SMLP is cheaper than 74.16% of the companies in the same industry.
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

SMLP's 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

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0

5. Dividend

5.1 Amount

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

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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 2024-08-08/bmo
Earnings (Next)10-31 2024-10-31/bmo
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 FAQ

What is the fundamental rating for SMLP stock?

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


Can you provide the valuation status for SUMMIT MIDSTREAM PARTNERS LP?

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 expected EPS growth for SUMMIT MIDSTREAM PARTNERS LP (SMLP) stock?

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


How sustainable is the dividend of SUMMIT MIDSTREAM PARTNERS LP (SMLP) stock?

The dividend rating of SUMMIT MIDSTREAM PARTNERS LP (SMLP) is 0 / 10 and the dividend payout ratio is 8.04%.