NAVIOS MARITIME PARTNERS LP (NMM) Stock Fundamental Analysis
NYSE:NMM - New York Stock Exchange, Inc. - MHY622674098 - Currency: USD
Overall NMM gets a fundamental rating of 5 out of 10. We evaluated NMM against 29 industry peers in the Marine Transportation industry. While NMM is still in line with the averages on profitability rating, there are concerns on its financial health. NMM may be a bit undervalued, certainly considering the very reasonable score on growth
1. Profitability
1.1 Basic Checks
NMM had positive earnings in the past year.
NMM had a positive operating cash flow in the past year.
NMM had positive earnings in 4 of the past 5 years.
NMM had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 7.15%, NMM is in line with its industry, outperforming 57.14% of the companies in the same industry.
NMM's Return On Equity of 13.13% is fine compared to the rest of the industry. NMM outperforms 60.71% of its industry peers.
NMM's Return On Invested Capital of 7.80% is fine compared to the rest of the industry. NMM outperforms 67.86% of its industry peers.
The Average Return On Invested Capital over the past 3 years for NMM is in line with the industry average of 8.54%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.15% | ||
| ROE | 13.13% | ||
| ROIC | 7.8% |
ROA(3y)8.78%
ROA(5y)6.94%
ROE(3y)17.13%
ROE(5y)13.94%
ROIC(3y)8.26%
ROIC(5y)7.45%
1.3 Margins
NMM has a Profit Margin of 29.87%. This is in the better half of the industry: NMM outperforms 71.43% of its industry peers.
In the last couple of years the Profit Margin of NMM has declined.
NMM has a better Operating Margin (38.12%) than 64.29% of its industry peers.
In the last couple of years the Operating Margin of NMM has grown nicely.
Looking at the Gross Margin, with a value of 86.29%, NMM belongs to the top of the industry, outperforming 92.86% of the companies in the same industry.
In the last couple of years the Gross Margin of NMM has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 38.12% | ||
| PM (TTM) | 29.87% | ||
| GM | 86.29% |
OM growth 3Y-15.53%
OM growth 5Y6.73%
PM growth 3Y-27.05%
PM growth 5YN/A
GM growth 3Y-3.49%
GM growth 5Y-1.9%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so NMM is destroying value.
Compared to 1 year ago, NMM has less shares outstanding
The number of shares outstanding for NMM has been increased compared to 5 years ago.
Compared to 1 year ago, NMM has a worse debt to assets ratio.
2.2 Solvency
NMM has a Debt/Equity ratio of 0.59. This is a neutral value indicating NMM is somewhat dependend on debt financing.
NMM has a Debt to Equity ratio (0.59) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.59 | ||
| Debt/FCF | N/A | ||
| Altman-Z | N/A |
ROIC/WACC0.93
WACC8.42%
2.3 Liquidity
NMM has a Current Ratio of 1.13. This is a normal value and indicates that NMM is financially healthy and should not expect problems in meeting its short term obligations.
NMM has a worse Current ratio (1.13) than 67.86% of its industry peers.
NMM has a Quick Ratio of 1.13. This is a normal value and indicates that NMM is financially healthy and should not expect problems in meeting its short term obligations.
NMM has a worse Quick ratio (1.13) than 64.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.13 | ||
| Quick Ratio | 1.13 |
3. Growth
3.1 Past
NMM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -10.52%.
Measured over the past years, NMM shows a very strong growth in Earnings Per Share. The EPS has been growing by 34.83% on average per year.
Looking at the last year, NMM shows a small growth in Revenue. The Revenue has grown by 2.08% in the last year.
The Revenue has been growing by 43.48% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-10.52%
EPS 3Y-7.6%
EPS 5Y34.83%
EPS Q2Q%-39.58%
Revenue 1Y (TTM)2.08%
Revenue growth 3Y23.21%
Revenue growth 5Y43.48%
Sales Q2Q%1.61%
3.2 Future
Based on estimates for the next years, NMM will show a small growth in Earnings Per Share. The EPS will grow by 4.67% on average per year.
The Revenue is expected to grow by 5.44% on average over the next years.
EPS Next Y10.43%
EPS Next 2Y4.67%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3.94%
Revenue Next 2Y5.44%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less 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 decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 3.92, which indicates a rather cheap valuation of NMM.
60.71% of the companies in the same industry are more expensive than NMM, based on the Price/Earnings ratio.
NMM's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 29.63.
The Price/Forward Earnings ratio is 3.55, which indicates a rather cheap valuation of NMM.
85.71% of the companies in the same industry are more expensive than NMM, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.68. NMM is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.92 | ||
| Fwd PE | 3.55 |
4.2 Price Multiples
NMM's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NMM is cheaper than 60.71% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.18 |
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.
The decent profitability rating of NMM may justify a higher PE ratio.
PEG (NY)0.38
PEG (5Y)0.11
EPS Next 2Y4.67%
EPS Next 3YN/A
5. Dividend
5.1 Amount
NMM has a yearly dividend return of 0.44%, which is pretty low.
Compared to an average industry Dividend Yield of 14.52, NMM has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.29, NMM's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.44% |
5.2 History
The dividend of NMM decreases each year by -26.83%.
NMM has paid a dividend for at least 10 years, which is a reliable track record.
NMM has decreased its dividend recently.
Dividend Growth(5Y)-26.83%
Div Incr Years0
Div Non Decr Years1
5.3 Sustainability
1.55% of the earnings are spent on dividend by NMM. This is a low number and sustainable payout ratio.
DP1.55%
EPS Next 2Y4.67%
EPS Next 3YN/A
43.68
-1.35 (-3%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)
Earnings (Next)
Inst Owners30.82%
Inst Owner Change-11.05%
Ins Owners24.14%
Ins Owner ChangeN/A
Market Cap1.30B
Analysts86.67
Price Target74.46 (70.47%)
Short Float %1.93%
Short Ratio3.07
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.44% |
Yearly Dividend0.2
Dividend Growth(5Y)-26.83%
DP1.55%
Div Incr Years0
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-7.63%
Min EPS beat(2)-21.93%
Max EPS beat(2)6.68%
EPS beat(4)3
Avg EPS beat(4)15.6%
Min EPS beat(4)-21.93%
Max EPS beat(4)63.1%
EPS beat(8)4
Avg EPS beat(8)1.25%
EPS beat(12)4
Avg EPS beat(12)-3.97%
EPS beat(16)7
Avg EPS beat(16)3.26%
Revenue beat(2)1
Avg Revenue beat(2)0.98%
Min Revenue beat(2)0%
Max Revenue beat(2)1.95%
Revenue beat(4)2
Avg Revenue beat(4)0.7%
Min Revenue beat(4)-3.22%
Max Revenue beat(4)4.06%
Revenue beat(8)5
Avg Revenue beat(8)3.77%
Revenue beat(12)6
Avg Revenue beat(12)3.58%
Revenue beat(16)9
Avg Revenue beat(16)4.39%
PT rev (1m)-3.29%
PT rev (3m)-10.91%
EPS NQ rev (1m)-48.73%
EPS NQ rev (3m)-51.31%
EPS NY rev (1m)-6.22%
EPS NY rev (3m)-14.07%
Revenue NQ rev (1m)-14.85%
Revenue NQ rev (3m)-14.85%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.4%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 3.92 | ||
| Fwd PE | 3.55 | ||
| P/S | 0.98 | ||
| P/FCF | N/A | ||
| P/OCF | 2.24 | ||
| P/B | 0.43 | ||
| P/tB | 0.44 | ||
| EV/EBITDA | 4.18 |
EPS(TTM)11.14
EY25.5%
EPS(NY)12.3
Fwd EY28.16%
FCF(TTM)-0.65
FCFYN/A
OCF(TTM)19.47
OCFY44.56%
SpS44.58
BVpS101.42
TBVpS99.85
PEG (NY)0.38
PEG (5Y)0.11
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.15% | ||
| ROE | 13.13% | ||
| ROCE | 9.87% | ||
| ROIC | 7.8% | ||
| ROICexc | 8.34% | ||
| ROICexgc | 8.42% | ||
| OM | 38.12% | ||
| PM (TTM) | 29.87% | ||
| GM | 86.29% | ||
| FCFM | N/A |
ROA(3y)8.78%
ROA(5y)6.94%
ROE(3y)17.13%
ROE(5y)13.94%
ROIC(3y)8.26%
ROIC(5y)7.45%
ROICexc(3y)8.71%
ROICexc(5y)7.84%
ROICexgc(3y)8.81%
ROICexgc(5y)7.97%
ROCE(3y)10.45%
ROCE(5y)9.44%
ROICexcg growth 3Y-12.24%
ROICexcg growth 5Y14.3%
ROICexc growth 3Y-11.26%
ROICexc growth 5Y14.37%
OM growth 3Y-15.53%
OM growth 5Y6.73%
PM growth 3Y-27.05%
PM growth 5YN/A
GM growth 3Y-3.49%
GM growth 5Y-1.9%
F-Score4
Asset Turnover0.24
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.59 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 2.45 | ||
| Cap/Depr | 267.02% | ||
| Cap/Sales | 45.13% | ||
| Interest Coverage | 3.7 | ||
| Cash Conversion | 79.37% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.13 | ||
| Quick Ratio | 1.13 | ||
| Altman-Z | N/A |
F-Score4
WACC8.42%
ROIC/WACC0.93
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-10.52%
EPS 3Y-7.6%
EPS 5Y34.83%
EPS Q2Q%-39.58%
EPS Next Y10.43%
EPS Next 2Y4.67%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)2.08%
Revenue growth 3Y23.21%
Revenue growth 5Y43.48%
Sales Q2Q%1.61%
Revenue Next Year3.94%
Revenue Next 2Y5.44%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y3.64%
EBIT growth 3Y4.08%
EBIT growth 5Y53.14%
EBIT Next Year59.11%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-105.3%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y18.76%
OCF growth 3YN/A
OCF growth 5YN/A