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

  • In the past year SMLP was profitable.
  • 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 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M 200M -200M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 3.51%, SMLP is doing worse than 61.24% of the companies in the same industry.
  • The Return On Equity of SMLP (8.34%) is comparable to the rest of the industry.
  • Looking at the Return On Invested Capital, with a value of 3.07%, SMLP is doing worse than 72.25% of the companies in the same industry.
  • SMLP had an Average Return On Invested Capital over the past 3 years of 2.12%. This is significantly below the industry average of 22.73%.
  • 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

  • SMLP has a Profit Margin of 17.49%. This is in the better half of the industry: SMLP outperforms 60.29% of its industry peers.
  • Looking at the Operating Margin, with a value of 18.04%, SMLP is in line with its industry, outperforming 47.37% 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 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

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SMLP is destroying value.
  • Compared to 1 year ago, SMLP has more shares outstanding
  • The debt/assets ratio for SMLP is higher compared to a year ago.
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 worse Debt to FCF ratio (22.27) than 64.11% of its industry peers.
  • A Debt/Equity ratio of 1.16 is on the high side and indicates that SMLP has dependencies on debt 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 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.
  • SMLP has a Quick ratio of 2.64. This is amongst the best in the industry. SMLP outperforms 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

  • 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.
  • Looking at the last year, SMLP shows a very strong growth in Revenue. The Revenue has grown by 20.54%.
  • 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

  • SMLP is valuated cheaply with a Price/Earnings ratio of 5.31.
  • SMLP's Price/Earnings ratio is rather cheap when compared to the industry. SMLP is cheaper than 87.08% of the companies in the same industry.
  • SMLP's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.79.
  • The Price/Forward Earnings ratio is 21.94, which indicates a rather expensive current valuation of SMLP.
  • SMLP's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. SMLP is more expensive than 69.86% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 38.88. SMLP is valued slightly cheaper when compared to this.
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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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. SMLP Dividend Analysis

5.1 Amount

  • SMLP does not give a dividend.
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 Number0 (-100%)
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.


What is the profitability of SMLP stock?

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


Can you provide the PE and PB ratios for SMLP stock?

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


Can you provide the dividend sustainability for SMLP stock?

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