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NAVIOS MARITIME PARTNERS LP (NMM) Stock Fundamental Analysis

NYSE:NMM - New York Stock Exchange, Inc. - MHY622674098

42.41  +0.65 (+1.56%)

Fundamental Rating

5

NMM gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 29 industry peers in the Marine Transportation industry. There are concerns on the financial health of NMM while its profitability can be described as average. NMM is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

NMM had positive earnings in the past year.
In the past year NMM had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: NMM reported negative net income in multiple years.
NMM had a positive operating cash flow in each of the past 5 years.
NMM Yearly Net Income VS EBIT VS OCF VS FCFNMM 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 200M 400M

1.2 Ratios

NMM has a Return On Assets of 7.15%. This is comparable to the rest of the industry: NMM outperforms 57.14% of its industry peers.
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.
With a decent Return On Invested Capital value of 7.80%, NMM is doing good in the industry, outperforming 67.86% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for NMM is in line with the industry average of 8.54%.
Industry RankSector Rank
ROA 7.15%
ROE 13.13%
ROIC 7.8%
ROA(3y)11.27%
ROA(5y)4.66%
ROE(3y)22.72%
ROE(5y)9.87%
ROIC(3y)9.27%
ROIC(5y)6.82%
NMM Yearly ROA, ROE, ROICNMM Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20

1.3 Margins

NMM's Profit Margin of 29.87% is fine compared to the rest of the industry. NMM outperforms 71.43% of its industry peers.
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.
NMM has a Gross Margin of 86.29%. This is amongst the best in the industry. NMM outperforms 92.86% of its industry peers.
In the last couple of years the Gross Margin of NMM has remained more or less at the same level.
Industry RankSector Rank
OM 38.12%
PM (TTM) 29.87%
GM 86.29%
OM growth 3Y39.6%
OM growth 5Y6.45%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.46%
GM growth 5Y-1.2%
NMM Yearly Profit, Operating, Gross MarginsNMM Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40 60 80

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2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so NMM is still creating some value.
NMM has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for NMM has been increased compared to 5 years ago.
The debt/assets ratio for NMM has been reduced compared to a year ago.
NMM Yearly Shares OutstandingNMM Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M
NMM Yearly Total Debt VS Total AssetsNMM Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B 5B

2.2 Solvency

A Debt/Equity ratio of 0.59 indicates that NMM is somewhat dependend on debt financing.
NMM has a Debt to Equity ratio (0.59) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.59
Debt/FCF N/A
Altman-Z N/A
ROIC/WACC0.95
WACC8.17%
NMM Yearly LT Debt VS Equity VS FCFNMM 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 2B 2.5B

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.
The Current ratio of NMM (1.13) is worse than 67.86% of its industry peers.
A Quick Ratio of 1.13 indicates that NMM should not have too much problems paying its short term obligations.
NMM's Quick ratio of 1.13 is on the low side compared to the rest of the industry. NMM is outperformed by 64.29% of its industry peers.
Industry RankSector Rank
Current Ratio 1.13
Quick Ratio 1.13
NMM Yearly Current Assets VS Current LiabilitesNMM Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M

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6

3. Growth

3.1 Past

NMM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.99%, which is quite good.
NMM shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 31.64% yearly.
The Revenue has decreased by -1.61% in the past year.
Measured over the past years, NMM shows a very strong growth in Revenue. The Revenue has been growing by 41.38% on average per year.
EPS 1Y (TTM)8.99%
EPS 3Y145.64%
EPS 5Y31.64%
EPS Q2Q%17.54%
Revenue 1Y (TTM)-1.61%
Revenue growth 3Y79.28%
Revenue growth 5Y41.38%
Sales Q2Q%5.46%

3.2 Future

Based on estimates for the next years, NMM will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.04% on average per year.
The Revenue is expected to grow by 4.04% on average over the next years.
EPS Next Y0.35%
EPS Next 2Y20.67%
EPS Next 3Y11.04%
EPS Next 5YN/A
Revenue Next Year-3.55%
Revenue Next 2Y5.5%
Revenue Next 3Y4.04%
Revenue Next 5YN/A

3.3 Evolution

The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NMM Yearly Revenue VS EstimatesNMM Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 500M 1B 1.5B
NMM Yearly EPS VS EstimatesNMM Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 5 10 15

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 3.30 indicates a rather cheap valuation of NMM.
Compared to the rest of the industry, the Price/Earnings ratio of NMM indicates a somewhat cheap valuation: NMM is cheaper than 64.29% of the companies listed in the same industry.
NMM's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.29.
NMM is valuated cheaply with a Price/Forward Earnings ratio of 2.34.
NMM's Price/Forward Earnings ratio is rather cheap when compared to the industry. NMM is cheaper than 92.86% of the companies in the same industry.
NMM is valuated cheaply when we compare the Price/Forward Earnings ratio to 24.44, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 3.3
Fwd PE 2.34
NMM Price Earnings VS Forward Price EarningsNMM Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, NMM is valued a bit cheaper than the industry average as 60.71% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 4.05
NMM Per share dataNMM EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80 100

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of NMM may justify a higher PE ratio.
PEG (NY)9.4
PEG (5Y)0.1
EPS Next 2Y20.67%
EPS Next 3Y11.04%

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3

5. Dividend

5.1 Amount

With a yearly dividend of 0.46%, NMM is not a good candidate for dividend investing.
The stock price of NMM dropped by -27.39% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
NMM's Dividend Yield is comparable with the industry average which is at 9.88.
With a Dividend Yield of 0.46, NMM pays less dividend than the S&P500 average, which is at 2.28.
Industry RankSector Rank
Dividend Yield 0.46%

5.2 History

The dividend of NMM decreases each year by -26.83%.
NMM has been paying a dividend for at least 10 years, so it has a reliable track record.
NMM has decreased its dividend recently.
Dividend Growth(5Y)-26.83%
Div Incr Years0
Div Non Decr Years1
NMM Yearly Dividends per shareNMM Yearly Dividends per shareYearly Dividends per share 2015 2018 2019 2020 2021 2022 2023 2024 100 200 300

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 2Y20.67%
EPS Next 3Y11.04%
NMM Yearly Income VS Free CF VS DividendNMM Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M
NMM Dividend Payout.NMM Dividend Payout, showing the Payout Ratio.NMM Dividend Payout.PayoutRetained Earnings

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NAVIOS MARITIME PARTNERS LP

NYSE:NMM (1/22/2025, 11:42:52 AM)

42.41

+0.65 (+1.56%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupTransportation
GICS IndustryMarine Transportation
Earnings (Last)11-05 2024-11-05/bmo
Earnings (Next)02-12 2025-02-12/amc
Inst Owners30.71%
Inst Owner Change0%
Ins Owners22.28%
Ins Owner ChangeN/A
Market Cap1.26B
Analysts86.67
Price Target77.52 (82.79%)
Short Float %1.61%
Short Ratio1.97
Dividend
Industry RankSector Rank
Dividend Yield 0.46%
Yearly Dividend0.2
Dividend Growth(5Y)-26.83%
DP1.55%
Div Incr Years0
Div Non Decr Years1
Ex-DateN/A
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)-7.88%
PT rev (3m)10.95%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-8.73%
EPS NY rev (1m)0%
EPS NY rev (3m)-16.42%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-10.57%
Revenue NY rev (1m)1.4%
Revenue NY rev (3m)-6.51%
Valuation
Industry RankSector Rank
PE 3.3
Fwd PE 2.34
P/S 0.95
P/FCF N/A
P/OCF 2.18
P/B 0.42
P/tB 0.42
EV/EBITDA 4.05
EPS(TTM)12.85
EY30.3%
EPS(NY)18.13
Fwd EY42.75%
FCF(TTM)-0.65
FCFYN/A
OCF(TTM)19.47
OCFY45.9%
SpS44.58
BVpS101.42
TBVpS99.85
PEG (NY)9.4
PEG (5Y)0.1
Profitability
Industry RankSector 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)11.27%
ROA(5y)4.66%
ROE(3y)22.72%
ROE(5y)9.87%
ROIC(3y)9.27%
ROIC(5y)6.82%
ROICexc(3y)9.75%
ROICexc(5y)7.13%
ROICexgc(3y)9.97%
ROICexgc(5y)7.27%
ROCE(3y)11.73%
ROCE(5y)8.63%
ROICexcg growth 3Y49.91%
ROICexcg growth 5Y16.35%
ROICexc growth 3Y49.33%
ROICexc growth 5Y16.11%
OM growth 3Y39.6%
OM growth 5Y6.45%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.46%
GM growth 5Y-1.2%
F-Score4
Asset Turnover0.24
Health
Industry RankSector 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
WACC8.17%
ROIC/WACC0.95
Cap/Depr(3y)163.77%
Cap/Depr(5y)132.03%
Cap/Sales(3y)26.75%
Cap/Sales(5y)24.37%
Profit Quality(3y)37.83%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)8.99%
EPS 3Y145.64%
EPS 5Y31.64%
EPS Q2Q%17.54%
EPS Next Y0.35%
EPS Next 2Y20.67%
EPS Next 3Y11.04%
EPS Next 5YN/A
Revenue 1Y (TTM)-1.61%
Revenue growth 3Y79.28%
Revenue growth 5Y41.38%
Sales Q2Q%5.46%
Revenue Next Year-3.55%
Revenue Next 2Y5.5%
Revenue Next 3Y4.04%
Revenue Next 5YN/A
EBIT growth 1Y3.64%
EBIT growth 3Y150.27%
EBIT growth 5Y50.49%
EBIT Next Year52.6%
EBIT Next 3Y17.89%
EBIT Next 5YN/A
FCF growth 1Y-120.06%
FCF growth 3Y159.09%
FCF growth 5YN/A
OCF growth 1Y17.16%
OCF growth 3Y81.25%
OCF growth 5Y52.34%