Martin Midstream Partners L.P. (MMLP) 10-Year Financial Performance & Capital Metrics

MMLP • • Industrial / General

EnergyMidstream Oil & GasTerminal & Storage OperationsMulti-Commodity Terminal Operators

AboutMartin Midstream Partners L.P., together with its subsidiaries, engages in terminalling, processing, storage, and packaging of petroleum products and by-products primarily in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 15 marine shore-based terminal facilities and 13 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products. This segment also offers land rental services to oil and gas companies, as well as storage and handling services for lubricants and fuels. Its Transportation segment operates a fleet of 570 tank trucks and 1,200 trailers; and 29 inland marine tank barges, 14 inland push boats, and 1 articulated offshore tug and barge unit to transport petroleum products and by-products, petrochemicals, and chemicals. The company's Sulfur Services segment processes molten sulfur into prilled or pelletized sulfur, which is used in the production of fertilizers and industrial chemicals. Its Natural Gas Liquids segment stores, distributes, and transports natural gas liquids for wholesale deliveries to refineries, industrial NGL users, and propane retailers, as well as owns approximately 2.1 million barrels of underground storage capacity for NGLs. Martin Midstream GP LLC serves as a general partner of the company. Martin Midstream Partners L.P. was incorporated in 2002 and is based in Kilgore, Texas.Show more

Revenue $708M -11.3%
EBITDA $108M -6.2%
Net Income -$5M -14.3%
EPS (Diluted) -0.13 -18.2%
Gross Margin 50.85% +282.1%
EBITDA Margin 15.27% +5.8%
Operating Margin 8.1% -1.1%
Net Margin -0.72% -28.9%
ROE -
ROIC 10.09% -6.8%
Debt/Equity -
Interest Coverage 0.99 -8.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-8.07%

5Y-3.53%

3Y-7.09%

TTM-0.58%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-576.51%

EPS CAGR

10Y-

5Y-

3Y-

TTM-583.88%

ROCE

10Y Avg8.92%

5Y Avg12.07%

3Y Avg13%

Latest13.78%

Peer Comparison

Multi-Commodity Terminal Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLPGlobal Partners LP	1.53B	45.32	18.81	4.07%	0.48%	12.8%		2.83
MMLPMartin Midstream Partners L.P.	110.53M	2.83	-21.77	-11.32%	-2.89%		5.74%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.04B	827.39M	946.12M	972.65M	847.12M	672.14M	882.43M	1.02B	797.96M	707.62M
Revenue Growth %	-0.37%	-0.2%	0.14%	0.03%	-0.13%	-0.21%	0.31%	0.15%	-0.22%	-0.11%
Cost of Goods Sold+	733.65M	563.79M	698.77M	761.48M	552.86M	418.39M	589.85M	679.59M	691.79M	347.82M
COGS % of Revenue	0.71%	0.68%	0.74%	0.78%	0.65%	0.62%	0.67%	0.67%	0.87%	0.49%
Gross Profit+	303.2M	263.61M	247.34M	211.18M	294.26M	253.75M	292.58M	339.29M	106.18M	359.8M
Gross Margin %	0.29%	0.32%	0.26%	0.22%	0.35%	0.38%	0.33%	0.33%	0.13%	0.51%
Gross Profit Growth %	0.04%	-0.13%	-0.06%	-0.15%	0.39%	-0.14%	0.15%	0.16%	-0.69%	2.39%
Operating Expenses+	233.04M	184.34M	106.82M	254.26M	236.16M	207.25M	235.5M	288.03M	40.83M	302.5M
OpEx % of Revenue	0.22%	0.22%	0.11%	0.26%	0.28%	0.31%	0.27%	0.28%	0.05%	0.43%
Selling, General & Admin	36.79M	34.38M	38.95M	37.68M	41.43M	40.9M	41.01M	41.81M	40.83M	48.5M
SG&A % of Revenue	0.04%	0.04%	0.04%	0.04%	0.05%	0.06%	0.05%	0.04%	0.05%	0.07%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	196.26M	149.96M	67.87M	216.58M	194.73M	166.35M	194.49M	246.22M	0	254M
Operating Income+	70.15M	72.66M	59.81M	44.79M	58.1M	46.5M	57.28M	51.26M	65.35M	57.3M
Operating Margin %	0.07%	0.09%	0.06%	0.05%	0.07%	0.07%	0.06%	0.05%	0.08%	0.08%
Operating Income Growth %	0.03%	0.04%	-0.18%	-0.25%	0.3%	-0.2%	0.23%	-0.11%	0.27%	-0.12%
EBITDA+	162.4M	164.79M	145.01M	106.27M	118.16M	107.96M	114.03M	107.54M	115.25M	108.08M
EBITDA Margin %	0.16%	0.2%	0.15%	0.11%	0.14%	0.16%	0.13%	0.11%	0.14%	0.15%
EBITDA Growth %	0.19%	0.01%	-0.12%	-0.27%	0.11%	-0.09%	0.06%	-0.06%	0.07%	-0.06%
D&A (Non-Cash Add-back)	92.25M	92.13M	85.19M	61.48M	60.06M	61.46M	56.75M	56.28M	49.9M	50.79M
EBIT	86.04M	79.74M	48.25M	45.09M	58.11M	41.17M	57.28M	51.26M	61.66M	55.71M
Net Interest Income+	-45.58M	-45.1M	-47.74M	-52.35M	-51.69M	-46.21M	-54.11M	-53.66M	-60.29M	-57.71M
Interest Income	2.25M	2.26M	943K	30K	0	0	0	0	0	-4K
Interest Expense	47.83M	47.36M	48.69M	52.38M	51.69M	46.21M	54.11M	53.66M	60.29M	57.71M
Other Income/Expense	-31.94M	-40.34M	-46.64M	-52.31M	-51.68M	-51.54M	-54.11M	-53.67M	-63.98M	-58.3M
Pretax Income+	38.21M	32.38M	17.49M	-7.23M	6.42M	-5.04M	3.17M	-2.41M	1.37M	-1.01M
Pretax Margin %	0.04%	0.04%	0.02%	-0.01%	0.01%	-0.01%	0%	-0%	0%	-0%
Income Tax+	1.05M	726K	352K	369K	1.9M	1.74M	3.38M	7.93M	5.92M	4.2M
Effective Tax Rate %	1%	0.98%	1.14%	-7.7%	-27.25%	1.34%	-0.07%	4.29%	-3.25%	5.03%
Net Income+	38.38M	31.65M	19.92M	55.66M	-174.95M	-6.77M	-211K	-10.33M	-4.44M	-5.08M
Net Margin %	0.04%	0.04%	0.02%	0.06%	-0.21%	-0.01%	-0%	-0.01%	-0.01%	-0.01%
Net Income Growth %	4.28%	-0.18%	-0.37%	1.79%	-4.14%	0.96%	0.97%	-47.98%	0.57%	-0.14%
Net Income (Continuing)	37.16M	27M	13.01M	-7.83M	4.52M	-6.77M	-211K	-10.33M	-4.55M	-5.21M
Discontinued Operations	1.22M	4.65M	21.1M	63.49M	-179.47M	0	0	0	0	0
Minority Interest	13.03M	7.41M	7.31M	6.63M	2.15M	1.91M	1.89M	1.67M	1.56M	1.44M
EPS (Diluted)+	0.58	0.65	0.44	1.11	-4.44	-0.17	-0.01	-0.26	-0.11	-0.13
EPS Growth %	2.18%	0.12%	-0.32%	1.52%	-5%	0.96%	0.97%	-	0.58%	-0.18%
EPS (Basic)	0.58	0.65	0.44	1.11	-4.44	-0.17	-0.01	-0.26	-0.11	-0.13
Diluted Shares Outstanding	35.37M	35.38M	38.16M	38.92M	38.66M	38.66M	38.69M	38.73M	38.77M	38.83M
Basic Shares Outstanding	35.31M	35.35M	38.1M	38.91M	38.66M	38.66M	38.69M	38.73M	38.77M	38.83M
Dividend Payout Ratio	3.47%	3.29%	3.86%	1.38%	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	167.82M	194M	242.66M	194.04M	181.36M	135.63M	173.69M	211.13M	114.31M	130.48M
Cash & Short-Term Investments	31K	15K	27K	237K	2.86M	4.96M	52K	45K	54K	55K
Cash Only	31K	15K	27K	237K	2.86M	4.96M	52K	45K	54K	55K
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	85.53M	92.28M	130.94M	83.65M	105.08M	67.56M	98.61M	87.65M	61.22M	67.26M
Days Sales Outstanding	30.11	40.71	50.51	31.39	45.28	36.69	40.79	31.4	28	34.7
Inventory	75.87M	82.63M	97.25M	85.07M	62.54M	54.12M	62.12M	109.8M	43.82M	51.71M
Days Inventory Outstanding	37.75	53.5	50.8	40.78	41.29	47.22	38.44	58.97	23.12	54.26
Other Current Assets	6.39M	19.07M	14.45M	21.14M	10.88M	8.99M	12.91M	13.63M	9.22M	11.45M
Total Non-Current Assets+	1.21B	1.05B	1.01B	839.36M	485.79M	444.01M	406.17M	387.72M	395.06M	408.03M
Property, Plant & Equipment	983.24M	845.68M	831.93M	798.35M	441.1M	402.13M	367.33M	354.25M	366.15M	372.59M
Fixed Asset Turnover	1.05x	0.98x	1.14x	1.22x	1.92x	1.67x	2.40x	2.88x	2.18x	1.90x
Goodwill	23.8M	17.3M	17.3M	17.3M	17.7M	16.82M	16.82M	16.67M	16.67M	16.67M
Intangible Assets	58.31M	38.81M	32.8M	23.71M	3.57M	2.81M	2.2M	2.41M	55K	26K
Long-Term Investments	132.29M	129.51M	128.81M	0	-2.63M	-803K	-1.84M	-2.26M	0	7.31M
Other Non-Current Assets	6.04M	6.07M	5.8M	0	2.63M	803K	1.84M	2.26M	1.98M	1.48M
Total Assets+	1.38B	1.25B	1.25B	1.03B	667.16M	579.64M	579.86M	598.85M	509.38M	538.51M
Asset Turnover	0.75x	0.66x	0.75x	0.94x	1.27x	1.16x	1.52x	1.70x	1.57x	1.31x
Asset Growth %	-0.11%	-0.1%	0.01%	-0.18%	-0.35%	-0.13%	0%	0.03%	-0.15%	0.06%
Total Current Liabilities+	119.17M	117.57M	134.41M	101.51M	107.28M	119.38M	104.09M	110.92M	100.56M	115.5M
Accounts Payable	79.93M	76.03M	91.13M	63.56M	62.01M	51.31M	68.55M	74.53M	51.65M	61.6M
Days Payables Outstanding	39.77	49.23	47.6	30.47	40.94	44.76	42.42	40.03	27.25	64.64
Short-Term Debt	0	0	0	0	6.76M	31.5M	280K	0	0	0
Deferred Revenue (Current)	0	0	0	0	1000K	0	0	0	0	0
Other Current Liabilities	19.72M	39M	39.39M	20.68M	3.89M	3.3M	25.02M	2.94M	25K	0
Current Ratio	1.41x	1.65x	1.81x	1.91x	1.69x	1.14x	1.67x	1.90x	1.14x	1.13x
Quick Ratio	0.77x	0.95x	1.08x	1.07x	1.11x	0.68x	1.07x	0.91x	0.70x	0.68x
Cash Conversion Cycle	28.09	44.98	53.72	41.7	45.63	39.14	36.81	50.34	23.87	24.31
Total Non-Current Liabilities+	867.43M	816.78M	820.85M	667.17M	596.07M	507.13M	523.81M	547.37M	473.44M	493.45M
Long-Term Debt	865M	808.11M	812.63M	656.46M	569.79M	484.6M	498.87M	512.87M	421.17M	437.63M
Capital Lease Obligations	0	0	0	6.27M	17.37M	15.47M	15.71M	26.27M	45.68M	47.87M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	2.42M	8.68M	8.22M	10.71M	8.91M	7.07M	9.23M	8.23M	6.58M	7.94M
Total Liabilities	986.59M	934.36M	955.26M	768.69M	703.35M	626.51M	627.9M	658.3M	574M	608.95M
Total Debt+	865M	808.11M	812.63M	668.14M	601.64M	539.09M	521.74M	548.23M	481.76M	505.23M
Net Debt	864.97M	808.09M	812.61M	656.22M	598.78M	534.13M	521.69M	548.19M	481.7M	505.17M
Debt / Equity	2.20x	2.59x	2.72x	2.32x	-	-	-	-	-	-
Debt / EBITDA	5.33x	4.90x	5.60x	6.29x	5.09x	4.99x	4.58x	5.10x	4.18x	4.67x
Net Debt / EBITDA	5.33x	4.90x	5.60x	6.18x	5.07x	4.95x	4.58x	5.10x	4.18x	4.67x
Interest Coverage	1.47x	1.53x	1.23x	0.86x	1.12x	1.01x	1.06x	0.96x	1.08x	0.99x
Total Equity+	393.88M	312.01M	298.24M	288.43M	-36.2M	-46.87M	-48.04M	-59.45M	-64.62M	-70.44M
Equity Growth %	-0.19%	-0.21%	-0.04%	-0.03%	-1.13%	-0.29%	-0.02%	-0.24%	-0.09%	-0.09%
Book Value per Share	11.14	8.82	7.81	7.41	-0.94	-1.21	-1.24	-1.54	-1.67	-1.81
Total Shareholders' Equity	380.85M	304.59M	290.93M	281.81M	-36.2M	-48.78M	-49.92M	-61.11M	-66.18M	-71.88M
Common Stock	380.85M	304.59M	290.93M	281.81M	-38.34M	-48.78M	-50.74M	-61.11M	-66.18M	-71.88M
Retained Earnings	0	0	0	0	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-404.57M	-378.59M	-421.14M	-466.38M	0	0	816K	0	0	0
Minority Interest	13.03M	7.41M	7.31M	6.63M	2.15M	1.91M	1.89M	1.67M	1.56M	1.44M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	182.57M	110.85M	67.51M	90.73M	75.81M	64.78M	35.73M	16.15M	137.47M	48.35M
Operating CF Margin %	0.18%	0.13%	0.07%	0.09%	0.09%	0.1%	0.04%	0.02%	0.17%	0.07%
Operating CF Growth %	0.58%	-0.39%	-0.39%	0.34%	-0.16%	-0.15%	-0.45%	-0.55%	7.51%	-0.65%
Net Income	37.16M	31.65M	17.14M	-7.59M	4.52M	-6.77M	-211K	-10.33M	-4.44M	-5.08M
Depreciation & Amortization	92.25M	92.13M	85.19M	76.87M	60.06M	61.46M	56.75M	56.28M	49.9M	50.79M
Stock-Based Compensation	1.43M	904K	650K	1.22M	1.42M	1.42M	384K	161K	163K	3.26M
Deferred Taxes	-1.91M	-2.88M	-1.31M	-10.39M	1.36M	1.17M	2.43M	5.74M	4.19M	254K
Other Non-Cash Items	18.37M	11.12M	2.85M	17.09M	-1.16M	-16.16M	4.31M	-3.33M	9.82M	1.33M
Working Capital Changes	35.26M	-22.07M	-37.02M	13.54M	9.61M	23.66M	-27.94M	-32.37M	77.85M	-2.19M
Change in Receivables	59.48M	-6.15M	-26.74M	28.44M	62K	30.74M	-31.45M	4.58M	26.43M	-6.05M
Change in Inventory	12.8M	-6.76M	-14.66M	11.84M	21.49M	5.26M	-8.33M	-47.68M	65.98M	-8.08M
Change in Payables	-44.15M	3.25M	20.04M	-27.48M	-898K	-7.32M	14.33M	486K	-17.54M	10.23M
Cash from Investing+	-23.8M	63.84M	-37.88M	147.65M	174.83M	2.6M	-19.24M	-24.64M	-33.66M	-58.6M
Capital Expenditures	-65.79M	-40.45M	-39.75M	-37.09M	-30.62M	-28.62M	-16.06M	-27.24M	-34.32M	0
CapEx % of Revenue	0.06%	0.05%	0.04%	0.04%	0.04%	0.04%	0.02%	0.03%	0.04%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.91M	106.44M	21.79M	184.74M	229.17M	-1.48M	-4.11M	-5.18M	657K	-59.84M
Cash from Financing+	-158.78M	-174.7M	-29.62M	-252.44M	-248.09M	-65.29M	-21.39M	8.49M	-103.8M	10.25M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-133.32M	-104.14M	-76.94M	-76.87M	-49.09M	-5.32M	-791K	-793K	-793K	-795K
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-16.18M	-9.95M	45.55M	-14.98M	-107.09M	-3.78M	-589K	-1.35M	-14.29M	-23K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	116.78M	70.39M	27.76M	53.64M	45.19M	36.16M	19.67M	-11.09M	103.15M	6.34M
FCF Margin %	0.11%	0.09%	0.03%	0.06%	0.05%	0.05%	0.02%	-0.01%	0.13%	0.01%
FCF Growth %	2.73%	-0.4%	-0.61%	0.93%	-0.16%	-0.2%	-0.46%	-1.56%	10.3%	-0.94%
FCF per Share	3.30	1.99	0.73	1.38	1.17	0.94	0.51	-0.29	2.66	0.16
FCF Conversion (FCF/Net Income)	4.76x	3.50x	3.39x	1.63x	-0.43x	-9.57x	-169.33x	-1.56x	-30.93x	-9.52x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.73%	8.97%	6.53%	18.97%	-138.72%	-	-	-	-	-
Return on Invested Capital (ROIC)	4%	4.58%	4.02%	3.25%	5.74%	6.64%	8.94%	7.99%	10.82%	10.09%
Gross Margin	29.24%	31.86%	26.14%	21.71%	34.74%	37.75%	33.16%	33.3%	13.31%	50.85%
Net Margin	3.7%	3.83%	2.1%	5.72%	-20.65%	-1.01%	-0.02%	-1.01%	-0.56%	-0.72%
Debt / Equity	2.20x	2.59x	2.72x	2.32x	-	-	-	-	-	-
Interest Coverage	1.47x	1.53x	1.23x	0.86x	1.12x	1.01x	1.06x	0.96x	1.08x	0.99x
FCF Conversion	4.76x	3.50x	3.39x	1.63x	-0.43x	-9.57x	-169.33x	-1.56x	-30.93x	-9.52x
Revenue Growth	-36.86%	-20.2%	14.35%	2.8%	-12.91%	-20.66%	31.29%	15.46%	-21.68%	-11.32%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product	-	-	-	-	-	-	651.1M	-	474.34M	380.05M
Product Growth	-	-	-	-	-	-	-	-	-	-19.88%
Specialty Products	-	-	-	-	-	-	-	-	346.78M	264.85M
Specialty Products Growth	-	-	-	-	-	-	-	-	-	-23.63%
Transportation	-	-	-	-	-	-	144.31M	-	223.68M	223.93M
Transportation Growth	-	-	-	-	-	-	-	-	-	0.11%
Sulfur Service, Product Sales	-	-	-	121.39M	99.91M	96.35M	133.24M	166.83M	127.56M	115.2M
Sulfur Service, Product Sales Growth	-	-	-	-	-17.70%	-3.56%	38.29%	25.21%	-23.53%	-9.69%
Natural Gas Liquids Product	-	-	-	-	-	-	414.04M	-	-	-
Natural Gas Liquids Product Growth	-	-	-	-	-	-	-	-	-	-
Terminalling And Storage, Lubricant Product	-	-	-	-	-	-	103.81M	-	-	-
Terminalling And Storage, Lubricant Product Growth	-	-	-	-	-	-	-	-	-	-
Sulfur Service	-	-	-	-	-	-	11.8M	-	-	-
Sulfur Service Growth	-	-	-	-	-	-	-	-	-	-
Natural gas services	523.16M	391.33M	532.68M	-	-	-	-	-	-	-
Natural gas services Growth	-	-25.20%	36.12%	-	-	-	-	-	-	-
Terminalling and storage	264.77M	236.71M	230.17M	-	-	-	-	-	-	-
Terminalling and storage Growth	-	-10.60%	-2.76%	-	-	-	-	-	-	-
Sulfur services	170.16M	141.06M	134.68M	-	-	-	-	-	-	-
Sulfur services Growth	-	-17.10%	-4.52%	-	-	-	-	-	-	-
Marine transportation	78.75M	58.29M	48.58M	-	-	-	-	-	-	-
Marine transportation Growth	-	-25.98%	-16.66%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Transportation	-	-	-	-	-	132.49M	161.18M	219.01M	240.93M	239.81M
Transportation Growth	-	-	-	-	-	-	21.65%	35.88%	10.01%	-0.46%

Frequently Asked Questions

Growth & Financials

Martin Midstream Partners L.P. (MMLP) reported $713.3M in revenue for fiscal year 2024. This represents a 42% decrease from $1.24B in 2011.

Martin Midstream Partners L.P. (MMLP) saw revenue decline by 11.3% over the past year.

Martin Midstream Partners L.P. (MMLP) reported a net loss of $20.6M for fiscal year 2024.

Dividend & Returns

Yes, Martin Midstream Partners L.P. (MMLP) pays a dividend with a yield of 0.72%. This makes it attractive for income-focused investors.

Martin Midstream Partners L.P. (MMLP) generated $43.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

Martin Midstream Partners L.P. (MMLP) 10-Year Financial Performance & Capital Metrics

MMLP • • Industrial / General

EnergyMidstream Oil & GasTerminal & Storage OperationsMulti-Commodity Terminal Operators

Revenue $708M -11.3%
EBITDA $108M -6.2%
Net Income -$5M -14.3%
EPS (Diluted) -0.13 -18.2%
Gross Margin 50.85% +282.1%
EBITDA Margin 15.27% +5.8%
Operating Margin 8.1% -1.1%
Net Margin -0.72% -28.9%
ROE -
ROIC 10.09% -6.8%
Debt/Equity -
Interest Coverage 0.99 -8.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-8.07%

5Y-3.53%

3Y-7.09%

TTM-0.58%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-576.51%

EPS CAGR

10Y-

5Y-

3Y-

TTM-583.88%

ROCE

10Y Avg8.92%

5Y Avg12.07%

3Y Avg13%

Latest13.78%

Peer Comparison

Multi-Commodity Terminal Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLPGlobal Partners LP	1.53B	45.32	18.81	4.07%	0.48%	12.8%		2.83
MMLPMartin Midstream Partners L.P.	110.53M	2.83	-21.77	-11.32%	-2.89%		5.74%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.04B	827.39M	946.12M	972.65M	847.12M	672.14M	882.43M	1.02B	797.96M	707.62M
Revenue Growth %	-0.37%	-0.2%	0.14%	0.03%	-0.13%	-0.21%	0.31%	0.15%	-0.22%	-0.11%
Cost of Goods Sold+	733.65M	563.79M	698.77M	761.48M	552.86M	418.39M	589.85M	679.59M	691.79M	347.82M
COGS % of Revenue	0.71%	0.68%	0.74%	0.78%	0.65%	0.62%	0.67%	0.67%	0.87%	0.49%
Gross Profit+	303.2M	263.61M	247.34M	211.18M	294.26M	253.75M	292.58M	339.29M	106.18M	359.8M
Gross Margin %	0.29%	0.32%	0.26%	0.22%	0.35%	0.38%	0.33%	0.33%	0.13%	0.51%
Gross Profit Growth %	0.04%	-0.13%	-0.06%	-0.15%	0.39%	-0.14%	0.15%	0.16%	-0.69%	2.39%
Operating Expenses+	233.04M	184.34M	106.82M	254.26M	236.16M	207.25M	235.5M	288.03M	40.83M	302.5M
OpEx % of Revenue	0.22%	0.22%	0.11%	0.26%	0.28%	0.31%	0.27%	0.28%	0.05%	0.43%
Selling, General & Admin	36.79M	34.38M	38.95M	37.68M	41.43M	40.9M	41.01M	41.81M	40.83M	48.5M
SG&A % of Revenue	0.04%	0.04%	0.04%	0.04%	0.05%	0.06%	0.05%	0.04%	0.05%	0.07%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	196.26M	149.96M	67.87M	216.58M	194.73M	166.35M	194.49M	246.22M	0	254M
Operating Income+	70.15M	72.66M	59.81M	44.79M	58.1M	46.5M	57.28M	51.26M	65.35M	57.3M
Operating Margin %	0.07%	0.09%	0.06%	0.05%	0.07%	0.07%	0.06%	0.05%	0.08%	0.08%
Operating Income Growth %	0.03%	0.04%	-0.18%	-0.25%	0.3%	-0.2%	0.23%	-0.11%	0.27%	-0.12%
EBITDA+	162.4M	164.79M	145.01M	106.27M	118.16M	107.96M	114.03M	107.54M	115.25M	108.08M
EBITDA Margin %	0.16%	0.2%	0.15%	0.11%	0.14%	0.16%	0.13%	0.11%	0.14%	0.15%
EBITDA Growth %	0.19%	0.01%	-0.12%	-0.27%	0.11%	-0.09%	0.06%	-0.06%	0.07%	-0.06%
D&A (Non-Cash Add-back)	92.25M	92.13M	85.19M	61.48M	60.06M	61.46M	56.75M	56.28M	49.9M	50.79M
EBIT	86.04M	79.74M	48.25M	45.09M	58.11M	41.17M	57.28M	51.26M	61.66M	55.71M
Net Interest Income+	-45.58M	-45.1M	-47.74M	-52.35M	-51.69M	-46.21M	-54.11M	-53.66M	-60.29M	-57.71M
Interest Income	2.25M	2.26M	943K	30K	0	0	0	0	0	-4K
Interest Expense	47.83M	47.36M	48.69M	52.38M	51.69M	46.21M	54.11M	53.66M	60.29M	57.71M
Other Income/Expense	-31.94M	-40.34M	-46.64M	-52.31M	-51.68M	-51.54M	-54.11M	-53.67M	-63.98M	-58.3M
Pretax Income+	38.21M	32.38M	17.49M	-7.23M	6.42M	-5.04M	3.17M	-2.41M	1.37M	-1.01M
Pretax Margin %	0.04%	0.04%	0.02%	-0.01%	0.01%	-0.01%	0%	-0%	0%	-0%
Income Tax+	1.05M	726K	352K	369K	1.9M	1.74M	3.38M	7.93M	5.92M	4.2M
Effective Tax Rate %	1%	0.98%	1.14%	-7.7%	-27.25%	1.34%	-0.07%	4.29%	-3.25%	5.03%
Net Income+	38.38M	31.65M	19.92M	55.66M	-174.95M	-6.77M	-211K	-10.33M	-4.44M	-5.08M
Net Margin %	0.04%	0.04%	0.02%	0.06%	-0.21%	-0.01%	-0%	-0.01%	-0.01%	-0.01%
Net Income Growth %	4.28%	-0.18%	-0.37%	1.79%	-4.14%	0.96%	0.97%	-47.98%	0.57%	-0.14%
Net Income (Continuing)	37.16M	27M	13.01M	-7.83M	4.52M	-6.77M	-211K	-10.33M	-4.55M	-5.21M
Discontinued Operations	1.22M	4.65M	21.1M	63.49M	-179.47M	0	0	0	0	0
Minority Interest	13.03M	7.41M	7.31M	6.63M	2.15M	1.91M	1.89M	1.67M	1.56M	1.44M
EPS (Diluted)+	0.58	0.65	0.44	1.11	-4.44	-0.17	-0.01	-0.26	-0.11	-0.13
EPS Growth %	2.18%	0.12%	-0.32%	1.52%	-5%	0.96%	0.97%	-	0.58%	-0.18%
EPS (Basic)	0.58	0.65	0.44	1.11	-4.44	-0.17	-0.01	-0.26	-0.11	-0.13
Diluted Shares Outstanding	35.37M	35.38M	38.16M	38.92M	38.66M	38.66M	38.69M	38.73M	38.77M	38.83M
Basic Shares Outstanding	35.31M	35.35M	38.1M	38.91M	38.66M	38.66M	38.69M	38.73M	38.77M	38.83M
Dividend Payout Ratio	3.47%	3.29%	3.86%	1.38%	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	167.82M	194M	242.66M	194.04M	181.36M	135.63M	173.69M	211.13M	114.31M	130.48M
Cash & Short-Term Investments	31K	15K	27K	237K	2.86M	4.96M	52K	45K	54K	55K
Cash Only	31K	15K	27K	237K	2.86M	4.96M	52K	45K	54K	55K
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	85.53M	92.28M	130.94M	83.65M	105.08M	67.56M	98.61M	87.65M	61.22M	67.26M
Days Sales Outstanding	30.11	40.71	50.51	31.39	45.28	36.69	40.79	31.4	28	34.7
Inventory	75.87M	82.63M	97.25M	85.07M	62.54M	54.12M	62.12M	109.8M	43.82M	51.71M
Days Inventory Outstanding	37.75	53.5	50.8	40.78	41.29	47.22	38.44	58.97	23.12	54.26
Other Current Assets	6.39M	19.07M	14.45M	21.14M	10.88M	8.99M	12.91M	13.63M	9.22M	11.45M
Total Non-Current Assets+	1.21B	1.05B	1.01B	839.36M	485.79M	444.01M	406.17M	387.72M	395.06M	408.03M
Property, Plant & Equipment	983.24M	845.68M	831.93M	798.35M	441.1M	402.13M	367.33M	354.25M	366.15M	372.59M
Fixed Asset Turnover	1.05x	0.98x	1.14x	1.22x	1.92x	1.67x	2.40x	2.88x	2.18x	1.90x
Goodwill	23.8M	17.3M	17.3M	17.3M	17.7M	16.82M	16.82M	16.67M	16.67M	16.67M
Intangible Assets	58.31M	38.81M	32.8M	23.71M	3.57M	2.81M	2.2M	2.41M	55K	26K
Long-Term Investments	132.29M	129.51M	128.81M	0	-2.63M	-803K	-1.84M	-2.26M	0	7.31M
Other Non-Current Assets	6.04M	6.07M	5.8M	0	2.63M	803K	1.84M	2.26M	1.98M	1.48M
Total Assets+	1.38B	1.25B	1.25B	1.03B	667.16M	579.64M	579.86M	598.85M	509.38M	538.51M
Asset Turnover	0.75x	0.66x	0.75x	0.94x	1.27x	1.16x	1.52x	1.70x	1.57x	1.31x
Asset Growth %	-0.11%	-0.1%	0.01%	-0.18%	-0.35%	-0.13%	0%	0.03%	-0.15%	0.06%
Total Current Liabilities+	119.17M	117.57M	134.41M	101.51M	107.28M	119.38M	104.09M	110.92M	100.56M	115.5M
Accounts Payable	79.93M	76.03M	91.13M	63.56M	62.01M	51.31M	68.55M	74.53M	51.65M	61.6M
Days Payables Outstanding	39.77	49.23	47.6	30.47	40.94	44.76	42.42	40.03	27.25	64.64
Short-Term Debt	0	0	0	0	6.76M	31.5M	280K	0	0	0
Deferred Revenue (Current)	0	0	0	0	1000K	0	0	0	0	0
Other Current Liabilities	19.72M	39M	39.39M	20.68M	3.89M	3.3M	25.02M	2.94M	25K	0
Current Ratio	1.41x	1.65x	1.81x	1.91x	1.69x	1.14x	1.67x	1.90x	1.14x	1.13x
Quick Ratio	0.77x	0.95x	1.08x	1.07x	1.11x	0.68x	1.07x	0.91x	0.70x	0.68x
Cash Conversion Cycle	28.09	44.98	53.72	41.7	45.63	39.14	36.81	50.34	23.87	24.31
Total Non-Current Liabilities+	867.43M	816.78M	820.85M	667.17M	596.07M	507.13M	523.81M	547.37M	473.44M	493.45M
Long-Term Debt	865M	808.11M	812.63M	656.46M	569.79M	484.6M	498.87M	512.87M	421.17M	437.63M
Capital Lease Obligations	0	0	0	6.27M	17.37M	15.47M	15.71M	26.27M	45.68M	47.87M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	2.42M	8.68M	8.22M	10.71M	8.91M	7.07M	9.23M	8.23M	6.58M	7.94M
Total Liabilities	986.59M	934.36M	955.26M	768.69M	703.35M	626.51M	627.9M	658.3M	574M	608.95M
Total Debt+	865M	808.11M	812.63M	668.14M	601.64M	539.09M	521.74M	548.23M	481.76M	505.23M
Net Debt	864.97M	808.09M	812.61M	656.22M	598.78M	534.13M	521.69M	548.19M	481.7M	505.17M
Debt / Equity	2.20x	2.59x	2.72x	2.32x	-	-	-	-	-	-
Debt / EBITDA	5.33x	4.90x	5.60x	6.29x	5.09x	4.99x	4.58x	5.10x	4.18x	4.67x
Net Debt / EBITDA	5.33x	4.90x	5.60x	6.18x	5.07x	4.95x	4.58x	5.10x	4.18x	4.67x
Interest Coverage	1.47x	1.53x	1.23x	0.86x	1.12x	1.01x	1.06x	0.96x	1.08x	0.99x
Total Equity+	393.88M	312.01M	298.24M	288.43M	-36.2M	-46.87M	-48.04M	-59.45M	-64.62M	-70.44M
Equity Growth %	-0.19%	-0.21%	-0.04%	-0.03%	-1.13%	-0.29%	-0.02%	-0.24%	-0.09%	-0.09%
Book Value per Share	11.14	8.82	7.81	7.41	-0.94	-1.21	-1.24	-1.54	-1.67	-1.81
Total Shareholders' Equity	380.85M	304.59M	290.93M	281.81M	-36.2M	-48.78M	-49.92M	-61.11M	-66.18M	-71.88M
Common Stock	380.85M	304.59M	290.93M	281.81M	-38.34M	-48.78M	-50.74M	-61.11M	-66.18M	-71.88M
Retained Earnings	0	0	0	0	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-404.57M	-378.59M	-421.14M	-466.38M	0	0	816K	0	0	0
Minority Interest	13.03M	7.41M	7.31M	6.63M	2.15M	1.91M	1.89M	1.67M	1.56M	1.44M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	182.57M	110.85M	67.51M	90.73M	75.81M	64.78M	35.73M	16.15M	137.47M	48.35M
Operating CF Margin %	0.18%	0.13%	0.07%	0.09%	0.09%	0.1%	0.04%	0.02%	0.17%	0.07%
Operating CF Growth %	0.58%	-0.39%	-0.39%	0.34%	-0.16%	-0.15%	-0.45%	-0.55%	7.51%	-0.65%
Net Income	37.16M	31.65M	17.14M	-7.59M	4.52M	-6.77M	-211K	-10.33M	-4.44M	-5.08M
Depreciation & Amortization	92.25M	92.13M	85.19M	76.87M	60.06M	61.46M	56.75M	56.28M	49.9M	50.79M
Stock-Based Compensation	1.43M	904K	650K	1.22M	1.42M	1.42M	384K	161K	163K	3.26M
Deferred Taxes	-1.91M	-2.88M	-1.31M	-10.39M	1.36M	1.17M	2.43M	5.74M	4.19M	254K
Other Non-Cash Items	18.37M	11.12M	2.85M	17.09M	-1.16M	-16.16M	4.31M	-3.33M	9.82M	1.33M
Working Capital Changes	35.26M	-22.07M	-37.02M	13.54M	9.61M	23.66M	-27.94M	-32.37M	77.85M	-2.19M
Change in Receivables	59.48M	-6.15M	-26.74M	28.44M	62K	30.74M	-31.45M	4.58M	26.43M	-6.05M
Change in Inventory	12.8M	-6.76M	-14.66M	11.84M	21.49M	5.26M	-8.33M	-47.68M	65.98M	-8.08M
Change in Payables	-44.15M	3.25M	20.04M	-27.48M	-898K	-7.32M	14.33M	486K	-17.54M	10.23M
Cash from Investing+	-23.8M	63.84M	-37.88M	147.65M	174.83M	2.6M	-19.24M	-24.64M	-33.66M	-58.6M
Capital Expenditures	-65.79M	-40.45M	-39.75M	-37.09M	-30.62M	-28.62M	-16.06M	-27.24M	-34.32M	0
CapEx % of Revenue	0.06%	0.05%	0.04%	0.04%	0.04%	0.04%	0.02%	0.03%	0.04%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.91M	106.44M	21.79M	184.74M	229.17M	-1.48M	-4.11M	-5.18M	657K	-59.84M
Cash from Financing+	-158.78M	-174.7M	-29.62M	-252.44M	-248.09M	-65.29M	-21.39M	8.49M	-103.8M	10.25M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-133.32M	-104.14M	-76.94M	-76.87M	-49.09M	-5.32M	-791K	-793K	-793K	-795K
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-16.18M	-9.95M	45.55M	-14.98M	-107.09M	-3.78M	-589K	-1.35M	-14.29M	-23K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	116.78M	70.39M	27.76M	53.64M	45.19M	36.16M	19.67M	-11.09M	103.15M	6.34M
FCF Margin %	0.11%	0.09%	0.03%	0.06%	0.05%	0.05%	0.02%	-0.01%	0.13%	0.01%
FCF Growth %	2.73%	-0.4%	-0.61%	0.93%	-0.16%	-0.2%	-0.46%	-1.56%	10.3%	-0.94%
FCF per Share	3.30	1.99	0.73	1.38	1.17	0.94	0.51	-0.29	2.66	0.16
FCF Conversion (FCF/Net Income)	4.76x	3.50x	3.39x	1.63x	-0.43x	-9.57x	-169.33x	-1.56x	-30.93x	-9.52x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.73%	8.97%	6.53%	18.97%	-138.72%	-	-	-	-	-
Return on Invested Capital (ROIC)	4%	4.58%	4.02%	3.25%	5.74%	6.64%	8.94%	7.99%	10.82%	10.09%
Gross Margin	29.24%	31.86%	26.14%	21.71%	34.74%	37.75%	33.16%	33.3%	13.31%	50.85%
Net Margin	3.7%	3.83%	2.1%	5.72%	-20.65%	-1.01%	-0.02%	-1.01%	-0.56%	-0.72%
Debt / Equity	2.20x	2.59x	2.72x	2.32x	-	-	-	-	-	-
Interest Coverage	1.47x	1.53x	1.23x	0.86x	1.12x	1.01x	1.06x	0.96x	1.08x	0.99x
FCF Conversion	4.76x	3.50x	3.39x	1.63x	-0.43x	-9.57x	-169.33x	-1.56x	-30.93x	-9.52x
Revenue Growth	-36.86%	-20.2%	14.35%	2.8%	-12.91%	-20.66%	31.29%	15.46%	-21.68%	-11.32%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product	-	-	-	-	-	-	651.1M	-	474.34M	380.05M
Product Growth	-	-	-	-	-	-	-	-	-	-19.88%
Specialty Products	-	-	-	-	-	-	-	-	346.78M	264.85M
Specialty Products Growth	-	-	-	-	-	-	-	-	-	-23.63%
Transportation	-	-	-	-	-	-	144.31M	-	223.68M	223.93M
Transportation Growth	-	-	-	-	-	-	-	-	-	0.11%
Sulfur Service, Product Sales	-	-	-	121.39M	99.91M	96.35M	133.24M	166.83M	127.56M	115.2M
Sulfur Service, Product Sales Growth	-	-	-	-	-17.70%	-3.56%	38.29%	25.21%	-23.53%	-9.69%
Natural Gas Liquids Product	-	-	-	-	-	-	414.04M	-	-	-
Natural Gas Liquids Product Growth	-	-	-	-	-	-	-	-	-	-
Terminalling And Storage, Lubricant Product	-	-	-	-	-	-	103.81M	-	-	-
Terminalling And Storage, Lubricant Product Growth	-	-	-	-	-	-	-	-	-	-
Sulfur Service	-	-	-	-	-	-	11.8M	-	-	-
Sulfur Service Growth	-	-	-	-	-	-	-	-	-	-
Natural gas services	523.16M	391.33M	532.68M	-	-	-	-	-	-	-
Natural gas services Growth	-	-25.20%	36.12%	-	-	-	-	-	-	-
Terminalling and storage	264.77M	236.71M	230.17M	-	-	-	-	-	-	-
Terminalling and storage Growth	-	-10.60%	-2.76%	-	-	-	-	-	-	-
Sulfur services	170.16M	141.06M	134.68M	-	-	-	-	-	-	-
Sulfur services Growth	-	-17.10%	-4.52%	-	-	-	-	-	-	-
Marine transportation	78.75M	58.29M	48.58M	-	-	-	-	-	-	-
Marine transportation Growth	-	-25.98%	-16.66%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Transportation	-	-	-	-	-	132.49M	161.18M	219.01M	240.93M	239.81M
Transportation Growth	-	-	-	-	-	-	21.65%	35.88%	10.01%	-0.46%

Frequently Asked Questions

Growth & Financials

Martin Midstream Partners L.P. (MMLP) reported $713.3M in revenue for fiscal year 2024. This represents a 42% decrease from $1.24B in 2011.

Martin Midstream Partners L.P. (MMLP) saw revenue decline by 11.3% over the past year.

Martin Midstream Partners L.P. (MMLP) reported a net loss of $20.6M for fiscal year 2024.

Dividend & Returns

Yes, Martin Midstream Partners L.P. (MMLP) pays a dividend with a yield of 0.72%. This makes it attractive for income-focused investors.

Martin Midstream Partners L.P. (MMLP) generated $43.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.