Seapeak LLC (SEAL-PB) 10-Year Financial Performance & Capital Metrics

SEAL-PB • • Industrial / General

EnergyMidstream Oil & GasLNG Infrastructure & ShippingLNG Carrier Operators

AboutSeapeak LLC provides marine transportation services focusing on liquefied natural gas (LNG) and liquefied petroleum gas (LPG) worldwide. It operates through two segments, LNG and LPG. It operates a fleet of 47 LNG carriers, 33 LPG, and 10 multi-gas carriers. The company was formerly known as Teekay LNG Partners L.P. and changed its name to Seapeak LLC on February 25, 2022. Seapeak LLC was incorporated in 2004 and is based in Vancouver, Canada.Show more

Revenue $711M -2.2%
EBITDA $48M -89.6%
Net Income -$68M -122.4%
EPS (Diluted) -0.93 -133.2%
Gross Margin 44.65% +2.0%
EBITDA Margin 6.78% -89.3%
Operating Margin -13.3% -130.7%
Net Margin -9.58% -122.9%
ROE -5.6% -102.2%
ROIC -1.86% -122.5%
Debt/Equity 1.21 -94.6%
Interest Coverage -0.53 -131.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 194.3%
✓FCF machine: 19.4% free cash flow margin
✓Healthy 5Y average net margin of 24.7%
✓Trading near 52-week high
✓Trading at only 1.1x book value

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.84%

5Y3.4%

3Y5.94%

TTM-5.2%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-169.99%

EPS CAGR

10Y-

5Y-

3Y-

TTM-187.54%

ROCE

10Y Avg4.08%

5Y Avg3.76%

3Y Avg2.7%

Latest-1.87%

Peer Comparison

LNG Carrier Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLNGGolar LNG Limited	4.05B	39.53	82.35	-12.75%	17.96%	2.54%		0.62
FLNGFLEX LNG Ltd.	1.47B	27.12	12.44	-3.95%	28.05%	13.34%	12.46%	2.24
GLOP-PAGasLog Partners LP	1.19B	25.89	8.81	-10.45%	31.3%	12.15%	21.51%	0.08
DLNGDynagas LNG Partners LP	138.98M	3.82	3.64	-2.54%	37.92%	13%	66.29%	0.66
SEAL-PBSeapeak LLC		25.45	-27.36	-2.21%	-27.59%	-8.42%		1.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	397.99M	396.44M	432.68M	510.76M	601.26M	591.1M	597.83M	624.48M	726.79M	710.74M
Revenue Growth %	-0.01%	-0%	0.09%	0.18%	0.18%	-0.02%	0.01%	0.04%	0.16%	-0.02%
Cost of Goods Sold+	187.5M	185.79M	216.89M	277.94M	289.73M	287.11M	283.63M	355.22M	408.61M	393.39M
COGS % of Revenue	0.47%	0.47%	0.5%	0.54%	0.48%	0.49%	0.47%	0.57%	0.56%	0.55%
Gross Profit+	210.49M	210.66M	215.79M	232.82M	311.52M	304M	314.2M	269.26M	318.19M	317.35M
Gross Margin %	0.53%	0.53%	0.5%	0.46%	0.52%	0.51%	0.53%	0.43%	0.44%	0.45%
Gross Profit Growth %	0%	0%	0.02%	0.08%	0.34%	-0.02%	0.03%	-0.14%	0.18%	-0%
Operating Expenses+	25.12M	18.5M	16.54M	28.51M	22.52M	26.9M	64.53M	34.87M	2.92M	411.86M
OpEx % of Revenue	0.06%	0.05%	0.04%	0.06%	0.04%	0.05%	0.11%	0.06%	0%	0.58%
Selling, General & Admin	25.12M	18.5M	16.54M	28.51M	22.52M	26.9M	64.53M	34.87M	30.91M	29.09M
SG&A % of Revenue	0.06%	0.05%	0.04%	0.06%	0.04%	0.05%	0.11%	0.06%	0.04%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	-27.99M	382.77M
Operating Income+	181.37M	153.18M	148.65M	147.81M	299.25M	226.09M	246.46M	177.35M	315.27M	-94.5M
Operating Margin %	0.46%	0.39%	0.34%	0.29%	0.5%	0.38%	0.41%	0.28%	0.43%	-0.13%
Operating Income Growth %	-0.01%	-0.16%	-0.03%	-0.01%	1.02%	-0.24%	0.09%	-0.28%	0.78%	-1.3%
EBITDA+	273.63M	248.72M	254.19M	272.19M	436.02M	355.85M	377.26M	305.81M	460.99M	48.16M
EBITDA Margin %	0.69%	0.63%	0.59%	0.53%	0.73%	0.6%	0.63%	0.49%	0.63%	0.07%
EBITDA Growth %	-0.02%	-0.09%	0.02%	0.07%	0.6%	-0.18%	0.06%	-0.19%	0.51%	-0.9%
D&A (Non-Cash Add-back)	92.25M	95.54M	105.55M	124.38M	136.76M	129.75M	130.81M	128.46M	145.73M	142.66M
EBIT	263.49M	217.78M	130.67M	158.39M	336.6M	233.61M	381.05M	386.87M	515.43M	80.11M
Net Interest Income+	-40.76M	-56.26M	-78.02M	-124.54M	-160.54M	-125.92M	-112.67M	-129M	-176.09M	-164.32M
Interest Income	2.5M	2.58M	2.92M	3.76M	3.98M	6.88M	5.95M	8.13M	11.41M	14.1M
Interest Expense	43.26M	58.84M	80.94M	128.3M	164.52M	132.81M	118.62M	137.13M	187.51M	178.42M
Other Income/Expense	38.86M	-33.22M	-149.51M	-174.22M	-127.17M	-125.29M	15.98M	72.39M	12.66M	-3.8M
Pretax Income+	220.23M	158.94M	49.73M	30.09M	172.08M	100.8M	262.43M	249.74M	327.93M	-98.31M
Pretax Margin %	0.55%	0.4%	0.11%	0.06%	0.29%	0.17%	0.44%	0.4%	0.45%	-0.14%
Income Tax+	2.72M	973K	824K	3.21M	7.48M	3.49M	6.89M	8.19M	10.21M	-2.49M
Effective Tax Rate %	0.91%	0.88%	0.68%	0.94%	0.89%	0.87%	0.92%	0.9%	0.93%	0.69%
Net Income+	200.88M	140.45M	33.97M	28.37M	152.79M	87.36M	242.65M	224.09M	304.54M	-68.11M
Net Margin %	0.5%	0.35%	0.08%	0.06%	0.25%	0.15%	0.41%	0.36%	0.42%	-0.1%
Net Income Growth %	-0.02%	-0.3%	-0.76%	-0.16%	4.39%	-0.43%	1.78%	-0.08%	0.36%	-1.22%
Net Income (Continuing)	217.51M	157.97M	48.91M	26.88M	164.6M	97.31M	255.55M	241.55M	317.72M	-95.82M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	24.62M	38.91M	52.38M	49.34M	55.29M	53.36M	65.51M	79.53M	92.21M	60.31M
EPS (Diluted)+	2.21	1.69	0.25	0.03	1.59	0.73	2.44	2.23	2.80	-0.93
EPS Growth %	-0.04%	-0.24%	-0.85%	-0.87%	47.52%	-0.54%	2.36%	-0.09%	0.25%	-1.33%
EPS (Basic)	2.21	1.70	0.25	0.03	1.59	0.73	2.45	2.23	2.80	-0.93
Diluted Shares Outstanding	78.96M	79.67M	79.79M	79.84M	78.27M	83.42M	87.22M	88.56M	99.95M	99.95M
Basic Shares Outstanding	78.9M	79.57M	79.62M	79.67M	78.18M	83.31M	87.09M	88.56M	99.95M	99.95M
Dividend Payout Ratio	1.27%	0.32%	1.67%	2.48%	0.54%	1.2%	0.51%	0.11%	0.25%	-

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+	169.26M	346.43M	351.09M	319.33M	592.02M	262.13M	217.44M	440.01M	307.21M	290.07M
Cash & Short-Term Investments	123.09M	276.49M	254.13M	161.65M	434.21M	220.73M	106.93M	232.07M	188.98M	174.65M
Cash Only	102.48M	126.15M	244.24M	149.01M	160.22M	206.76M	92.07M	215.74M	168.41M	153.73M
Short-Term Investments	20.61M	150.34M	9.88M	12.63M	273.99M	13.97M	14.86M	16.34M	20.57M	20.93M
Accounts Receivable	55.71M	185.31M	33.35M	33.43M	287.45M	7.63M	45.51M	58.63M	31.27M	29.06M
Days Sales Outstanding	51.09	170.61	28.14	23.89	174.5	4.71	27.78	34.27	15.7	14.92
Inventory	0	10.68M	23.4M	47.24M	65.04M	17.62M	37.32M	0	-17.66M	0
Days Inventory Outstanding	-	20.97	39.39	62.04	81.94	22.4	48.03	-	-	-
Other Current Assets	0	20.58M	33.67M	90.48M	5.74M	8.6M	53.03M	129.09M	89.3M	51.51M
Total Non-Current Assets+	3.88B	3.97B	4.67B	5.07B	4.82B	4.59B	4.58B	5.33B	5.35B	5.09B
Property, Plant & Equipment	2.11B	2.22B	2.91B	3.33B	3.06B	2.9B	2.83B	3.44B	3.22B	2.95B
Fixed Asset Turnover	0.19x	0.18x	0.15x	0.15x	0.20x	0.20x	0.21x	0.18x	0.23x	0.24x
Goodwill	35.63M	35.63M	35.63M	34.84M	34.84M	34.84M	34.84M	40.31M	40.31M	37.31M
Intangible Assets	78.79M	69.93M	61.08M	52.22M	43.37M	34.51M	25.65M	42.08M	30.45M	20.43M
Long-Term Investments	1.53B	1.53B	1.58B	1.6B	1.63B	1.56B	1.62B	1.71B	1.98B	1.97B
Other Non-Current Assets	125.73M	112.41M	78.91M	46.95M	48.22M	65.2M	64.81M	54.9M	83.08M	104.8M
Total Assets+	4.05B	4.32B	5.02B	5.38B	5.41B	4.85B	4.8B	5.77B	5.66B	5.38B
Asset Turnover	0.10x	0.09x	0.09x	0.09x	0.11x	0.12x	0.12x	0.11x	0.13x	0.13x
Asset Growth %	0.02%	0.06%	0.16%	0.07%	0%	-0.1%	-0.01%	0.2%	-0.02%	-0.05%
Total Current Liabilities+	345.52M	375.43M	828.21M	352.15M	838.52M	521.26M	366.81M	803.45M	440.12M	477.4M
Accounts Payable	2.77M	5.56M	3.51M	3.83M	5.09M	4.88M	10.2M	52.01M	6.69M	7.09M
Days Payables Outstanding	5.39	10.93	5.91	5.03	6.42	6.21	13.12	53.44	5.98	6.58
Short-Term Debt	197.2M	188.51M	552.4M	135.9M	393.06M	250.51M	156.06M	477.17M	107.82M	177.09M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	113.53M	120.46M	134.25M	93.27M	319.33M	141.29M	95.03M	85.67M	73.34M	47.36M
Current Ratio	0.49x	0.92x	0.42x	0.91x	0.71x	0.50x	0.59x	0.55x	0.70x	0.61x
Quick Ratio	0.49x	0.89x	0.40x	0.77x	0.63x	0.47x	0.49x	0.55x	0.74x	0.61x
Cash Conversion Cycle	-	180.65	61.62	80.9	250.02	20.9	62.69	-	-	-
Total Non-Current Liabilities+	2.16B	2.16B	2.25B	3.15B	2.69B	2.59B	2.5B	2.6B	2.54B	2.59B
Long-Term Debt	1.8B	1.6B	1.25B	1.83B	1.44B	1.22B	1.22B	927.28M	960.2M	882.45M
Capital Lease Obligations	54.58M	352.49M	904.6M	1.22B	1.36B	1.28B	1.2B	1.58B	1.48B	1.6B
Deferred Tax Liabilities	182.34M	128.29M	45.8M	0	1.77M	1.32M	708K	4.74M	4.89M	1.16M
Other Non-Current Liabilities	94.51M	68.81M	57.59M	98.83M	-109.28M	89.03M	83.43M	86.98M	97.53M	112.89M
Total Liabilities	2.51B	2.54B	3.08B	3.5B	3.53B	3.11B	2.87B	3.41B	2.98B	3.07B
Total Debt+	2.06B	2.18B	2.81B	3.27B	3.28B	2.83B	2.66B	3.12B	2.74B	2.79B
Net Debt	1.96B	2.06B	2.57B	3.12B	3.12B	2.63B	2.56B	2.91B	2.57B	2.63B
Debt / Equity	91.21x	55.32x	49.41x	62.78x	-	-	215.03x	26.00x	22.18x	1.21x
Debt / EBITDA	7.52x	8.78x	11.05x	12.01x	7.51x	7.96x	7.04x	10.21x	5.94x	57.87x
Net Debt / EBITDA	7.15x	8.27x	10.09x	11.46x	7.15x	7.38x	6.79x	9.50x	5.58x	54.68x
Interest Coverage	4.19x	2.60x	1.84x	1.15x	1.82x	1.70x	2.08x	1.29x	1.68x	-0.53x
Total Equity+	22.57M	39.48M	56.86M	52.06M	-2.02M	-50.48M	12.35M	120.05M	123.56M	2.31B
Equity Growth %	1.75%	0.75%	0.44%	-0.08%	-1.04%	-23.95%	1.24%	8.72%	0.03%	17.67%
Book Value per Share	0.29	0.50	0.71	0.65	-0.03	-0.61	0.14	1.36	1.24	23.08
Total Shareholders' Equity	-2.05M	575K	4.48M	2.72M	-57.31M	-103.84M	-53.16M	40.52M	31.35M	2.25B
Common Stock	0	1.56B	1.54B	1.5B	1.54B	1.47B	1.58B	1.96B	2.28B	1.93B
Retained Earnings	0	-1.69B	-1.82B	-1.78B	-1.89B	-1.85B	-1.92B	-2.2B	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-2.05M	575K	4.48M	2.72M	-57.31M	-103.84M	-53.16M	40.52M	31.35M	36.08M
Minority Interest	24.62M	38.91M	52.38M	49.34M	55.29M	53.36M	65.51M	79.53M	92.21M	60.31M

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+	239.73M	175.78M	194.47M	131.2M	301.61M	613.5M	198.86M	276.78M	362.66M	395.29M
Operating CF Margin %	0.6%	0.44%	0.45%	0.26%	0.5%	1.04%	0.33%	0.44%	0.5%	0.56%
Operating CF Growth %	0.25%	-0.27%	0.11%	-0.33%	1.3%	1.03%	-0.68%	0.39%	0.31%	0.09%
Net Income	217.51M	157.97M	48.91M	26.88M	164.6M	97.31M	255.55M	241.55M	317.72M	-95.82M
Depreciation & Amortization	92.25M	95.54M	105.55M	124.38M	136.76M	129.75M	130.81M	128.46M	145.73M	142.66M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-35.85M	-59.8M	38.16M	-39.27M	-5.66M	381.51M	-127.74M	-69.12M	-102.63M	322.48M
Working Capital Changes	-34.19M	-17.92M	1.85M	19.22M	5.9M	4.93M	-59.76M	-24.12M	1.85M	25.96M
Change in Receivables	-5.14M	5.49M	1.62M	3.54M	6.18M	5.83M	-21.87M	-4.37M	19.4M	2.21M
Change in Inventory	-2.08M	1.92M	-366K	10.12M	5.78M	-5.62M	-25.99M	-3.03M	814K	0
Change in Payables	2.13M	2.79M	-2.05M	274K	1.26M	-211K	5.32M	-3.95M	-2.23M	398K
Cash from Investing+	-212.53M	6.6M	-766.44M	-632.85M	-161.45M	-1.47M	-30.97M	-280.06M	-70.4M	-200.07M
Capital Expenditures	-191.97M	-345.79M	-708.61M	-686.15M	-97.89M	-10.48M	-41.97M	-108.02M	-147.97M	-257.73M
CapEx % of Revenue	0.48%	0.87%	1.64%	1.34%	0.16%	0.02%	0.07%	0.17%	0.2%	0.36%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.29M	473.27M	33.72M	39.4M	11.52M	-991K	11M	32.27M	0	0
Cash from Financing+	-84.36M	-158.72M	690.07M	385.08M	-109.73M	-607.38M	-283.77M	127.17M	-373.81M	-191.65M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-255.52M	-45.47M	-56.65M	-70.34M	-82.38M	-104.4M	-124.19M	-25.61M	-74.94M	-275.12M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-34.81M	334.19M	675.12M	-14.86M	-1.24M	-13.27M	-2.92M	133.64M	80.52M	-12.96M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	47.76M	-170.01M	-514.14M	-554.95M	203.72M	603.02M	156.88M	168.75M	214.69M	137.56M
FCF Margin %	0.12%	-0.43%	-1.19%	-1.09%	0.34%	1.02%	0.26%	0.27%	0.3%	0.19%
FCF Growth %	20.3%	-4.56%	-2.02%	-0.08%	1.37%	1.96%	-0.74%	0.08%	0.27%	-0.36%
FCF per Share	0.60	-2.13	-6.44	-6.95	2.60	7.23	1.80	1.91	2.15	1.38
FCF Conversion (FCF/Net Income)	1.19x	1.25x	5.73x	4.62x	1.97x	7.02x	0.82x	1.24x	1.19x	-5.80x
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)	1305.2%	452.72%	70.51%	52.09%	610.71%	-	1964.92%	338.52%	250.03%	-5.6%
Return on Invested Capital (ROIC)	7.13%	5.64%	4.72%	3.83%	7.14%	5.96%	7.18%	4.75%	8.27%	-1.86%
Gross Margin	52.89%	53.14%	49.87%	45.58%	51.81%	51.43%	52.56%	43.12%	43.78%	44.65%
Net Margin	50.47%	35.43%	7.85%	5.55%	25.41%	14.78%	40.59%	35.88%	41.9%	-9.58%
Debt / Equity	91.21x	55.32x	49.41x	62.78x	-	-	215.03x	26.00x	22.18x	1.21x
Interest Coverage	4.19x	2.60x	1.84x	1.15x	1.82x	1.70x	2.08x	1.29x	1.68x	-0.53x
FCF Conversion	1.19x	1.25x	5.73x	4.62x	1.97x	7.02x	0.82x	1.24x	1.19x	-5.80x
Revenue Growth	-1.23%	-0.39%	9.14%	18.05%	17.72%	-1.69%	1.14%	4.46%	16.38%	-2.21%

Revenue by Segment

	2022	2023	2024
Time charters	500.03M	614.49M	596.11M
Time charters Growth	-	22.89%	-2.99%
Lease revenue	516.5M	603.19M	572.26M
Lease revenue Growth	-	16.78%	-5.13%
Non Lease Component	107.98M	123.6M	138.49M
Non Lease Component Growth	-	14.47%	12.04%
Management fees and other	85.58M	89.33M	101.07M
Management fees and other Growth	-	4.38%	13.14%
Non-lease revenue	22.39M	34.27M	37.41M
Non-lease revenue Growth	-	53.02%	9.18%
Voyage charters	38.86M	22.97M	13.56M
Voyage charters Growth	-	-40.89%	-40.97%

Frequently Asked Questions

Growth & Financials

Seapeak LLC (SEAL-PB) reported $675.2M in revenue for fiscal year 2024. This represents a 78% increase from $380.0M in 2011.

Seapeak LLC (SEAL-PB) saw revenue decline by 2.2% over the past year.

Seapeak LLC (SEAL-PB) reported a net loss of $186.3M for fiscal year 2024.

Dividend & Returns

Yes, Seapeak LLC (SEAL-PB) pays a dividend with a yield of 10.82%. This makes it attractive for income-focused investors.

Seapeak LLC (SEAL-PB) has a return on equity (ROE) of -5.6%. Negative ROE indicates the company is unprofitable.

Seapeak LLC (SEAL-PB) generated $118.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Seapeak LLC (SEAL-PB) 10-Year Financial Performance & Capital Metrics

SEAL-PB • • Industrial / General

EnergyMidstream Oil & GasLNG Infrastructure & ShippingLNG Carrier Operators

Revenue $711M -2.2%
EBITDA $48M -89.6%
Net Income -$68M -122.4%
EPS (Diluted) -0.93 -133.2%
Gross Margin 44.65% +2.0%
EBITDA Margin 6.78% -89.3%
Operating Margin -13.3% -130.7%
Net Margin -9.58% -122.9%
ROE -5.6% -102.2%
ROIC -1.86% -122.5%
Debt/Equity 1.21 -94.6%
Interest Coverage -0.53 -131.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 194.3%
✓FCF machine: 19.4% free cash flow margin
✓Healthy 5Y average net margin of 24.7%
✓Trading near 52-week high
✓Trading at only 1.1x book value

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y5.84%

5Y3.4%

3Y5.94%

TTM-5.2%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-169.99%

EPS CAGR

10Y-

5Y-

3Y-

TTM-187.54%

ROCE

10Y Avg4.08%

5Y Avg3.76%

3Y Avg2.7%

Latest-1.87%

Peer Comparison

LNG Carrier Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GLNGGolar LNG Limited	4.05B	39.53	82.35	-12.75%	17.96%	2.54%		0.62
FLNGFLEX LNG Ltd.	1.47B	27.12	12.44	-3.95%	28.05%	13.34%	12.46%	2.24
GLOP-PAGasLog Partners LP	1.19B	25.89	8.81	-10.45%	31.3%	12.15%	21.51%	0.08
DLNGDynagas LNG Partners LP	138.98M	3.82	3.64	-2.54%	37.92%	13%	66.29%	0.66
SEAL-PBSeapeak LLC		25.45	-27.36	-2.21%	-27.59%	-8.42%		1.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	397.99M	396.44M	432.68M	510.76M	601.26M	591.1M	597.83M	624.48M	726.79M	710.74M
Revenue Growth %	-0.01%	-0%	0.09%	0.18%	0.18%	-0.02%	0.01%	0.04%	0.16%	-0.02%
Cost of Goods Sold+	187.5M	185.79M	216.89M	277.94M	289.73M	287.11M	283.63M	355.22M	408.61M	393.39M
COGS % of Revenue	0.47%	0.47%	0.5%	0.54%	0.48%	0.49%	0.47%	0.57%	0.56%	0.55%
Gross Profit+	210.49M	210.66M	215.79M	232.82M	311.52M	304M	314.2M	269.26M	318.19M	317.35M
Gross Margin %	0.53%	0.53%	0.5%	0.46%	0.52%	0.51%	0.53%	0.43%	0.44%	0.45%
Gross Profit Growth %	0%	0%	0.02%	0.08%	0.34%	-0.02%	0.03%	-0.14%	0.18%	-0%
Operating Expenses+	25.12M	18.5M	16.54M	28.51M	22.52M	26.9M	64.53M	34.87M	2.92M	411.86M
OpEx % of Revenue	0.06%	0.05%	0.04%	0.06%	0.04%	0.05%	0.11%	0.06%	0%	0.58%
Selling, General & Admin	25.12M	18.5M	16.54M	28.51M	22.52M	26.9M	64.53M	34.87M	30.91M	29.09M
SG&A % of Revenue	0.06%	0.05%	0.04%	0.06%	0.04%	0.05%	0.11%	0.06%	0.04%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	-27.99M	382.77M
Operating Income+	181.37M	153.18M	148.65M	147.81M	299.25M	226.09M	246.46M	177.35M	315.27M	-94.5M
Operating Margin %	0.46%	0.39%	0.34%	0.29%	0.5%	0.38%	0.41%	0.28%	0.43%	-0.13%
Operating Income Growth %	-0.01%	-0.16%	-0.03%	-0.01%	1.02%	-0.24%	0.09%	-0.28%	0.78%	-1.3%
EBITDA+	273.63M	248.72M	254.19M	272.19M	436.02M	355.85M	377.26M	305.81M	460.99M	48.16M
EBITDA Margin %	0.69%	0.63%	0.59%	0.53%	0.73%	0.6%	0.63%	0.49%	0.63%	0.07%
EBITDA Growth %	-0.02%	-0.09%	0.02%	0.07%	0.6%	-0.18%	0.06%	-0.19%	0.51%	-0.9%
D&A (Non-Cash Add-back)	92.25M	95.54M	105.55M	124.38M	136.76M	129.75M	130.81M	128.46M	145.73M	142.66M
EBIT	263.49M	217.78M	130.67M	158.39M	336.6M	233.61M	381.05M	386.87M	515.43M	80.11M
Net Interest Income+	-40.76M	-56.26M	-78.02M	-124.54M	-160.54M	-125.92M	-112.67M	-129M	-176.09M	-164.32M
Interest Income	2.5M	2.58M	2.92M	3.76M	3.98M	6.88M	5.95M	8.13M	11.41M	14.1M
Interest Expense	43.26M	58.84M	80.94M	128.3M	164.52M	132.81M	118.62M	137.13M	187.51M	178.42M
Other Income/Expense	38.86M	-33.22M	-149.51M	-174.22M	-127.17M	-125.29M	15.98M	72.39M	12.66M	-3.8M
Pretax Income+	220.23M	158.94M	49.73M	30.09M	172.08M	100.8M	262.43M	249.74M	327.93M	-98.31M
Pretax Margin %	0.55%	0.4%	0.11%	0.06%	0.29%	0.17%	0.44%	0.4%	0.45%	-0.14%
Income Tax+	2.72M	973K	824K	3.21M	7.48M	3.49M	6.89M	8.19M	10.21M	-2.49M
Effective Tax Rate %	0.91%	0.88%	0.68%	0.94%	0.89%	0.87%	0.92%	0.9%	0.93%	0.69%
Net Income+	200.88M	140.45M	33.97M	28.37M	152.79M	87.36M	242.65M	224.09M	304.54M	-68.11M
Net Margin %	0.5%	0.35%	0.08%	0.06%	0.25%	0.15%	0.41%	0.36%	0.42%	-0.1%
Net Income Growth %	-0.02%	-0.3%	-0.76%	-0.16%	4.39%	-0.43%	1.78%	-0.08%	0.36%	-1.22%
Net Income (Continuing)	217.51M	157.97M	48.91M	26.88M	164.6M	97.31M	255.55M	241.55M	317.72M	-95.82M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	24.62M	38.91M	52.38M	49.34M	55.29M	53.36M	65.51M	79.53M	92.21M	60.31M
EPS (Diluted)+	2.21	1.69	0.25	0.03	1.59	0.73	2.44	2.23	2.80	-0.93
EPS Growth %	-0.04%	-0.24%	-0.85%	-0.87%	47.52%	-0.54%	2.36%	-0.09%	0.25%	-1.33%
EPS (Basic)	2.21	1.70	0.25	0.03	1.59	0.73	2.45	2.23	2.80	-0.93
Diluted Shares Outstanding	78.96M	79.67M	79.79M	79.84M	78.27M	83.42M	87.22M	88.56M	99.95M	99.95M
Basic Shares Outstanding	78.9M	79.57M	79.62M	79.67M	78.18M	83.31M	87.09M	88.56M	99.95M	99.95M
Dividend Payout Ratio	1.27%	0.32%	1.67%	2.48%	0.54%	1.2%	0.51%	0.11%	0.25%	-

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+	169.26M	346.43M	351.09M	319.33M	592.02M	262.13M	217.44M	440.01M	307.21M	290.07M
Cash & Short-Term Investments	123.09M	276.49M	254.13M	161.65M	434.21M	220.73M	106.93M	232.07M	188.98M	174.65M
Cash Only	102.48M	126.15M	244.24M	149.01M	160.22M	206.76M	92.07M	215.74M	168.41M	153.73M
Short-Term Investments	20.61M	150.34M	9.88M	12.63M	273.99M	13.97M	14.86M	16.34M	20.57M	20.93M
Accounts Receivable	55.71M	185.31M	33.35M	33.43M	287.45M	7.63M	45.51M	58.63M	31.27M	29.06M
Days Sales Outstanding	51.09	170.61	28.14	23.89	174.5	4.71	27.78	34.27	15.7	14.92
Inventory	0	10.68M	23.4M	47.24M	65.04M	17.62M	37.32M	0	-17.66M	0
Days Inventory Outstanding	-	20.97	39.39	62.04	81.94	22.4	48.03	-	-	-
Other Current Assets	0	20.58M	33.67M	90.48M	5.74M	8.6M	53.03M	129.09M	89.3M	51.51M
Total Non-Current Assets+	3.88B	3.97B	4.67B	5.07B	4.82B	4.59B	4.58B	5.33B	5.35B	5.09B
Property, Plant & Equipment	2.11B	2.22B	2.91B	3.33B	3.06B	2.9B	2.83B	3.44B	3.22B	2.95B
Fixed Asset Turnover	0.19x	0.18x	0.15x	0.15x	0.20x	0.20x	0.21x	0.18x	0.23x	0.24x
Goodwill	35.63M	35.63M	35.63M	34.84M	34.84M	34.84M	34.84M	40.31M	40.31M	37.31M
Intangible Assets	78.79M	69.93M	61.08M	52.22M	43.37M	34.51M	25.65M	42.08M	30.45M	20.43M
Long-Term Investments	1.53B	1.53B	1.58B	1.6B	1.63B	1.56B	1.62B	1.71B	1.98B	1.97B
Other Non-Current Assets	125.73M	112.41M	78.91M	46.95M	48.22M	65.2M	64.81M	54.9M	83.08M	104.8M
Total Assets+	4.05B	4.32B	5.02B	5.38B	5.41B	4.85B	4.8B	5.77B	5.66B	5.38B
Asset Turnover	0.10x	0.09x	0.09x	0.09x	0.11x	0.12x	0.12x	0.11x	0.13x	0.13x
Asset Growth %	0.02%	0.06%	0.16%	0.07%	0%	-0.1%	-0.01%	0.2%	-0.02%	-0.05%
Total Current Liabilities+	345.52M	375.43M	828.21M	352.15M	838.52M	521.26M	366.81M	803.45M	440.12M	477.4M
Accounts Payable	2.77M	5.56M	3.51M	3.83M	5.09M	4.88M	10.2M	52.01M	6.69M	7.09M
Days Payables Outstanding	5.39	10.93	5.91	5.03	6.42	6.21	13.12	53.44	5.98	6.58
Short-Term Debt	197.2M	188.51M	552.4M	135.9M	393.06M	250.51M	156.06M	477.17M	107.82M	177.09M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	113.53M	120.46M	134.25M	93.27M	319.33M	141.29M	95.03M	85.67M	73.34M	47.36M
Current Ratio	0.49x	0.92x	0.42x	0.91x	0.71x	0.50x	0.59x	0.55x	0.70x	0.61x
Quick Ratio	0.49x	0.89x	0.40x	0.77x	0.63x	0.47x	0.49x	0.55x	0.74x	0.61x
Cash Conversion Cycle	-	180.65	61.62	80.9	250.02	20.9	62.69	-	-	-
Total Non-Current Liabilities+	2.16B	2.16B	2.25B	3.15B	2.69B	2.59B	2.5B	2.6B	2.54B	2.59B
Long-Term Debt	1.8B	1.6B	1.25B	1.83B	1.44B	1.22B	1.22B	927.28M	960.2M	882.45M
Capital Lease Obligations	54.58M	352.49M	904.6M	1.22B	1.36B	1.28B	1.2B	1.58B	1.48B	1.6B
Deferred Tax Liabilities	182.34M	128.29M	45.8M	0	1.77M	1.32M	708K	4.74M	4.89M	1.16M
Other Non-Current Liabilities	94.51M	68.81M	57.59M	98.83M	-109.28M	89.03M	83.43M	86.98M	97.53M	112.89M
Total Liabilities	2.51B	2.54B	3.08B	3.5B	3.53B	3.11B	2.87B	3.41B	2.98B	3.07B
Total Debt+	2.06B	2.18B	2.81B	3.27B	3.28B	2.83B	2.66B	3.12B	2.74B	2.79B
Net Debt	1.96B	2.06B	2.57B	3.12B	3.12B	2.63B	2.56B	2.91B	2.57B	2.63B
Debt / Equity	91.21x	55.32x	49.41x	62.78x	-	-	215.03x	26.00x	22.18x	1.21x
Debt / EBITDA	7.52x	8.78x	11.05x	12.01x	7.51x	7.96x	7.04x	10.21x	5.94x	57.87x
Net Debt / EBITDA	7.15x	8.27x	10.09x	11.46x	7.15x	7.38x	6.79x	9.50x	5.58x	54.68x
Interest Coverage	4.19x	2.60x	1.84x	1.15x	1.82x	1.70x	2.08x	1.29x	1.68x	-0.53x
Total Equity+	22.57M	39.48M	56.86M	52.06M	-2.02M	-50.48M	12.35M	120.05M	123.56M	2.31B
Equity Growth %	1.75%	0.75%	0.44%	-0.08%	-1.04%	-23.95%	1.24%	8.72%	0.03%	17.67%
Book Value per Share	0.29	0.50	0.71	0.65	-0.03	-0.61	0.14	1.36	1.24	23.08
Total Shareholders' Equity	-2.05M	575K	4.48M	2.72M	-57.31M	-103.84M	-53.16M	40.52M	31.35M	2.25B
Common Stock	0	1.56B	1.54B	1.5B	1.54B	1.47B	1.58B	1.96B	2.28B	1.93B
Retained Earnings	0	-1.69B	-1.82B	-1.78B	-1.89B	-1.85B	-1.92B	-2.2B	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-2.05M	575K	4.48M	2.72M	-57.31M	-103.84M	-53.16M	40.52M	31.35M	36.08M
Minority Interest	24.62M	38.91M	52.38M	49.34M	55.29M	53.36M	65.51M	79.53M	92.21M	60.31M

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+	239.73M	175.78M	194.47M	131.2M	301.61M	613.5M	198.86M	276.78M	362.66M	395.29M
Operating CF Margin %	0.6%	0.44%	0.45%	0.26%	0.5%	1.04%	0.33%	0.44%	0.5%	0.56%
Operating CF Growth %	0.25%	-0.27%	0.11%	-0.33%	1.3%	1.03%	-0.68%	0.39%	0.31%	0.09%
Net Income	217.51M	157.97M	48.91M	26.88M	164.6M	97.31M	255.55M	241.55M	317.72M	-95.82M
Depreciation & Amortization	92.25M	95.54M	105.55M	124.38M	136.76M	129.75M	130.81M	128.46M	145.73M	142.66M
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-35.85M	-59.8M	38.16M	-39.27M	-5.66M	381.51M	-127.74M	-69.12M	-102.63M	322.48M
Working Capital Changes	-34.19M	-17.92M	1.85M	19.22M	5.9M	4.93M	-59.76M	-24.12M	1.85M	25.96M
Change in Receivables	-5.14M	5.49M	1.62M	3.54M	6.18M	5.83M	-21.87M	-4.37M	19.4M	2.21M
Change in Inventory	-2.08M	1.92M	-366K	10.12M	5.78M	-5.62M	-25.99M	-3.03M	814K	0
Change in Payables	2.13M	2.79M	-2.05M	274K	1.26M	-211K	5.32M	-3.95M	-2.23M	398K
Cash from Investing+	-212.53M	6.6M	-766.44M	-632.85M	-161.45M	-1.47M	-30.97M	-280.06M	-70.4M	-200.07M
Capital Expenditures	-191.97M	-345.79M	-708.61M	-686.15M	-97.89M	-10.48M	-41.97M	-108.02M	-147.97M	-257.73M
CapEx % of Revenue	0.48%	0.87%	1.64%	1.34%	0.16%	0.02%	0.07%	0.17%	0.2%	0.36%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.29M	473.27M	33.72M	39.4M	11.52M	-991K	11M	32.27M	0	0
Cash from Financing+	-84.36M	-158.72M	690.07M	385.08M	-109.73M	-607.38M	-283.77M	127.17M	-373.81M	-191.65M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-255.52M	-45.47M	-56.65M	-70.34M	-82.38M	-104.4M	-124.19M	-25.61M	-74.94M	-275.12M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-34.81M	334.19M	675.12M	-14.86M	-1.24M	-13.27M	-2.92M	133.64M	80.52M	-12.96M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	47.76M	-170.01M	-514.14M	-554.95M	203.72M	603.02M	156.88M	168.75M	214.69M	137.56M
FCF Margin %	0.12%	-0.43%	-1.19%	-1.09%	0.34%	1.02%	0.26%	0.27%	0.3%	0.19%
FCF Growth %	20.3%	-4.56%	-2.02%	-0.08%	1.37%	1.96%	-0.74%	0.08%	0.27%	-0.36%
FCF per Share	0.60	-2.13	-6.44	-6.95	2.60	7.23	1.80	1.91	2.15	1.38
FCF Conversion (FCF/Net Income)	1.19x	1.25x	5.73x	4.62x	1.97x	7.02x	0.82x	1.24x	1.19x	-5.80x
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)	1305.2%	452.72%	70.51%	52.09%	610.71%	-	1964.92%	338.52%	250.03%	-5.6%
Return on Invested Capital (ROIC)	7.13%	5.64%	4.72%	3.83%	7.14%	5.96%	7.18%	4.75%	8.27%	-1.86%
Gross Margin	52.89%	53.14%	49.87%	45.58%	51.81%	51.43%	52.56%	43.12%	43.78%	44.65%
Net Margin	50.47%	35.43%	7.85%	5.55%	25.41%	14.78%	40.59%	35.88%	41.9%	-9.58%
Debt / Equity	91.21x	55.32x	49.41x	62.78x	-	-	215.03x	26.00x	22.18x	1.21x
Interest Coverage	4.19x	2.60x	1.84x	1.15x	1.82x	1.70x	2.08x	1.29x	1.68x	-0.53x
FCF Conversion	1.19x	1.25x	5.73x	4.62x	1.97x	7.02x	0.82x	1.24x	1.19x	-5.80x
Revenue Growth	-1.23%	-0.39%	9.14%	18.05%	17.72%	-1.69%	1.14%	4.46%	16.38%	-2.21%

Revenue by Segment

	2022	2023	2024
Time charters	500.03M	614.49M	596.11M
Time charters Growth	-	22.89%	-2.99%
Lease revenue	516.5M	603.19M	572.26M
Lease revenue Growth	-	16.78%	-5.13%
Non Lease Component	107.98M	123.6M	138.49M
Non Lease Component Growth	-	14.47%	12.04%
Management fees and other	85.58M	89.33M	101.07M
Management fees and other Growth	-	4.38%	13.14%
Non-lease revenue	22.39M	34.27M	37.41M
Non-lease revenue Growth	-	53.02%	9.18%
Voyage charters	38.86M	22.97M	13.56M
Voyage charters Growth	-	-40.89%	-40.97%

Frequently Asked Questions

Growth & Financials

Seapeak LLC (SEAL-PB) reported $675.2M in revenue for fiscal year 2024. This represents a 78% increase from $380.0M in 2011.

Seapeak LLC (SEAL-PB) saw revenue decline by 2.2% over the past year.

Seapeak LLC (SEAL-PB) reported a net loss of $186.3M for fiscal year 2024.

Dividend & Returns

Yes, Seapeak LLC (SEAL-PB) pays a dividend with a yield of 10.82%. This makes it attractive for income-focused investors.

Seapeak LLC (SEAL-PB) has a return on equity (ROE) of -5.6%. Negative ROE indicates the company is unprofitable.

Seapeak LLC (SEAL-PB) generated $118.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.