SUBURBAN PROPANE PARTNERS LP (SPH) Stock Fundamental Analysis
NYSE:SPH - New York Stock Exchange, Inc. - US8644821048 - Currency: USD
Taking everything into account, SPH scores 4 out of 10 in our fundamental rating. SPH was compared to 14 industry peers in the Gas Utilities industry. SPH has a medium profitability rating, but doesn't score so well on its financial health evaluation. SPH has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
SPH had positive earnings in the past year.
In the past year SPH had a positive cash flow from operations.
In the past 5 years SPH has always been profitable.
SPH had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.95%, SPH is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
The Return On Equity of SPH (14.11%) is better than 85.71% of its industry peers.
With a decent Return On Invested Capital value of 7.41%, SPH is doing good in the industry, outperforming 78.57% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for SPH is in line with the industry average of 6.29%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.95% | ||
| ROE | 14.11% | ||
| ROIC | 7.41% |
ROA(3y)5.12%
ROA(5y)4.86%
ROE(3y)21.43%
ROE(5y)21.99%
ROIC(3y)8.09%
ROIC(5y)7.99%
1.3 Margins
SPH has a Profit Margin of 6.65%. This is in the lower half of the industry: SPH underperforms 64.29% of its industry peers.
In the last couple of years the Profit Margin of SPH has remained more or less at the same level.
The Operating Margin of SPH (14.26%) is worse than 71.43% of its industry peers.
In the last couple of years the Operating Margin of SPH has remained more or less at the same level.
With a Gross Margin value of 60.08%, SPH perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
SPH's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.26% | ||
| PM (TTM) | 6.65% | ||
| GM | 60.08% |
OM growth 3Y-7.95%
OM growth 5Y0.58%
PM growth 3Y-16.29%
PM growth 5Y0.65%
GM growth 3Y-0.9%
GM growth 5Y0.4%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), SPH is destroying value.
SPH has more shares outstanding than it did 1 year ago.
SPH has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, SPH has a worse debt to assets ratio.
2.2 Solvency
The Debt to FCF ratio of SPH is 18.42, which is on the high side as it means it would take SPH, 18.42 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 18.42, SPH belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
SPH has a Debt/Equity ratio of 1.93. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of SPH (1.93) is worse than 85.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.93 | ||
| Debt/FCF | 18.42 | ||
| Altman-Z | N/A |
ROIC/WACC0.88
WACC8.38%
2.3 Liquidity
A Current Ratio of 1.06 indicates that SPH should not have too much problems paying its short term obligations.
With an excellent Current ratio value of 1.06, SPH belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
A Quick Ratio of 0.81 indicates that SPH may have some problems paying its short term obligations.
With a decent Quick ratio value of 0.81, SPH is doing good in the industry, outperforming 71.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.06 | ||
| Quick Ratio | 0.81 |
3. Growth
3.1 Past
The earnings per share for SPH have decreased strongly by -14.79% in the last year.
The Earnings Per Share has been growing slightly by 0.72% on average over the past years.
Looking at the last year, SPH shows a small growth in Revenue. The Revenue has grown by 4.03% in the last year.
SPH shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 0.92% yearly.
EPS 1Y (TTM)-14.79%
EPS 3Y-20.63%
EPS 5Y0.72%
EPS Q2Q%22.09%
Revenue 1Y (TTM)4.03%
Revenue growth 3Y0.98%
Revenue growth 5Y0.92%
Sales Q2Q%17.98%
3.2 Future
Based on estimates for the next years, SPH will show a quite strong growth in Earnings Per Share. The EPS will grow by 19.79% on average per year.
SPH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.20% yearly.
EPS Next Y27.58%
EPS Next 2Y20.72%
EPS Next 3Y19.79%
EPS Next 5YN/A
Revenue Next Year9.03%
Revenue Next 2Y4.24%
Revenue Next 3Y3.2%
Revenue Next 5YN/A
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 accelerating.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 13.22 indicates a correct valuation of SPH.
Based on the Price/Earnings ratio, SPH is valued a bit cheaper than 71.43% of the companies in the same industry.
SPH's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.35.
The Price/Forward Earnings ratio is 11.46, which indicates a very decent valuation of SPH.
85.71% of the companies in the same industry are more expensive than SPH, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.19. SPH is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.22 | ||
| Fwd PE | 11.46 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SPH is on the same level as its industry peers.
78.57% of the companies in the same industry are more expensive than SPH, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 17.62 | ||
| EV/EBITDA | 9.27 |
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 SPH's earnings are expected to grow with 19.79% in the coming years.
PEG (NY)0.48
PEG (5Y)18.44
EPS Next 2Y20.72%
EPS Next 3Y19.79%
5. Dividend
5.1 Amount
SPH has a Yearly Dividend Yield of 7.09%, which is a nice return.
Compared to an average industry Dividend Yield of 4.01, SPH pays a better dividend. On top of this SPH pays more dividend than 100.00% of the companies listed in the same industry.
SPH's Dividend Yield is rather good when compared to the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.09% |
5.2 History
The dividend of SPH decreases each year by -11.53%.
SPH has been paying a dividend for at least 10 years, so it has a reliable track record.
SPH has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-11.53%
Div Incr Years0
Div Non Decr Years3
5.3 Sustainability
SPH pays out 88.04% of its income as dividend. This is not a sustainable payout ratio.
DP88.04%
EPS Next 2Y20.72%
EPS Next 3Y19.79%
19.04
+0.11 (+0.58%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)
Earnings (Next)
Inst Owners41.71%
Inst Owner Change4.95%
Ins Owners3.12%
Ins Owner Change-0.65%
Market Cap1.24B
Analysts48.89
Price Target17.34 (-8.93%)
Short Float %1.15%
Short Ratio4.64
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.09% |
Yearly Dividend1.3
Dividend Growth(5Y)-11.53%
DP88.04%
Div Incr Years0
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-30.31%
Min EPS beat(2)-56%
Max EPS beat(2)-4.62%
EPS beat(4)0
Avg EPS beat(4)-40.42%
Min EPS beat(4)-57.25%
Max EPS beat(4)-4.62%
EPS beat(8)2
Avg EPS beat(8)-22.11%
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)2.5%
Min Revenue beat(2)-1.17%
Max Revenue beat(2)6.18%
Revenue beat(4)1
Avg Revenue beat(4)-3.83%
Min Revenue beat(4)-11.34%
Max Revenue beat(4)6.18%
Revenue beat(8)1
Avg Revenue beat(8)-3.14%
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)0%
EPS NQ rev (3m)5%
EPS NY rev (1m)0%
EPS NY rev (3m)-32.39%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.37%
Revenue NY rev (1m)2.79%
Revenue NY rev (3m)3.15%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.22 | ||
| Fwd PE | 11.46 | ||
| P/S | 0.87 | ||
| P/FCF | 17.62 | ||
| P/OCF | 8.41 | ||
| P/B | 1.84 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.27 |
EPS(TTM)1.44
EY7.56%
EPS(NY)1.66
Fwd EY8.73%
FCF(TTM)1.08
FCFY5.68%
OCF(TTM)2.26
OCFY11.89%
SpS21.92
BVpS10.34
TBVpS-8.88
PEG (NY)0.48
PEG (5Y)18.44
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.95% | ||
| ROE | 14.11% | ||
| ROCE | 9.39% | ||
| ROIC | 7.41% | ||
| ROICexc | 7.43% | ||
| ROICexgc | 17.6% | ||
| OM | 14.26% | ||
| PM (TTM) | 6.65% | ||
| GM | 60.08% | ||
| FCFM | 4.93% |
ROA(3y)5.12%
ROA(5y)4.86%
ROE(3y)21.43%
ROE(5y)21.99%
ROIC(3y)8.09%
ROIC(5y)7.99%
ROICexc(3y)8.11%
ROICexc(5y)8.01%
ROICexgc(3y)22.07%
ROICexgc(5y)22.37%
ROCE(3y)10.24%
ROCE(5y)10.12%
ROICexcg growth 3Y-12.63%
ROICexcg growth 5Y-4.17%
ROICexc growth 3Y-10.39%
ROICexc growth 5Y-0.47%
OM growth 3Y-7.95%
OM growth 5Y0.58%
PM growth 3Y-16.29%
PM growth 5Y0.65%
GM growth 3Y-0.9%
GM growth 5Y0.4%
F-Score5
Asset Turnover0.59
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.93 | ||
| Debt/FCF | 18.42 | ||
| Debt/EBITDA | 4.76 | ||
| Cap/Depr | 112.15% | ||
| Cap/Sales | 5.4% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 54.14% | ||
| Profit Quality | 74.09% | ||
| Current Ratio | 1.06 | ||
| Quick Ratio | 0.81 | ||
| Altman-Z | N/A |
F-Score5
WACC8.38%
ROIC/WACC0.88
Cap/Depr(3y)78.69%
Cap/Depr(5y)58.5%
Cap/Sales(3y)3.53%
Cap/Sales(5y)3.17%
Profit Quality(3y)136.04%
Profit Quality(5y)171.85%
High Growth Momentum
Growth
EPS 1Y (TTM)-14.79%
EPS 3Y-20.63%
EPS 5Y0.72%
EPS Q2Q%22.09%
EPS Next Y27.58%
EPS Next 2Y20.72%
EPS Next 3Y19.79%
EPS Next 5YN/A
Revenue 1Y (TTM)4.03%
Revenue growth 3Y0.98%
Revenue growth 5Y0.92%
Sales Q2Q%17.98%
Revenue Next Year9.03%
Revenue Next 2Y4.24%
Revenue Next 3Y3.2%
Revenue Next 5YN/A
EBIT growth 1Y-0.67%
EBIT growth 3Y-7.04%
EBIT growth 5Y1.51%
EBIT Next Year63.22%
EBIT Next 3Y18.97%
EBIT Next 5Y14.05%
FCF growth 1Y-61.9%
FCF growth 3Y-19.88%
FCF growth 5Y-12.01%
OCF growth 1Y-36.16%
OCF growth 3Y-10.84%
OCF growth 5Y-6.67%