KNOT Offshore Partners LP (KNOP) Financial Ratios
14 years of historical data (2011–2024) · Industrials · Marine Shipping
EV/EBITDA
↓
6.63
-10% vs avg
5yr avg: 7.37
30Y Low5.6·High15.4
P/FCF
↓
2.79
+7% vs avg
5yr avg: 2.61
30Y Low1.4·High10.9
P/B Ratio
↓
0.63
+16% vs avg
5yr avg: 0.54
30Y Low0.3·High1.7
ROE
↓
2.3%
↑-49% vs avg
5yr avg: 4.6%
30Y Low-5%·High12%
Debt/EBITDA
↑
4.93
↓-14% vs avg
5yr avg: 5.71
30Y Low4.6·High12.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
KNOP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
KNOT Offshore Partners LP trades at 53.1x earnings, 304% above its 5-year average of 13.2x, sitting at the 100th percentile of its historical range. Compared to the Industrials sector median P/E of 25.9x, the stock trades at a premium of 105%. On a free-cash-flow basis, the stock trades at 2.8x P/FCF, 7% above the 5-year average of 2.6x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $380M | $187M | $226M | $369M | $498M | $492M | $648M | $586M | $624M | $642M | $341M |
| Enterprise Value | $1.2B | $1.0B | $1.1B | $1.4B | $1.4B | $1.5B | $1.6B | $1.6B | $1.6B | $1.4B | $989M |
| P/E Ratio → | 53.14 | 25.95 | — | 7.24 | 10.77 | 8.66 | 12.78 | 7.14 | 9.18 | 10.49 | 8.43 |
| P/S Ratio | 1.22 | 0.60 | 0.78 | 1.37 | 1.77 | 1.76 | 2.29 | 2.10 | 2.85 | 3.70 | 2.20 |
| P/B Ratio | 0.63 | 0.31 | 0.37 | 0.57 | 0.74 | 0.71 | 0.91 | 0.80 | 0.86 | 1.23 | 0.65 |
| P/FCF | 2.79 | 1.37 | 1.76 | 3.78 | 3.21 | 2.92 | 3.91 | 3.95 | 4.06 | 5.96 | 3.89 |
| P/OCF | 2.77 | 1.36 | 1.72 | 3.66 | 2.99 | 2.91 | 3.91 | 3.94 | 4.04 | 5.92 | 3.82 |
P/E links to full P/E history page with 30-year chart
KNOP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
KNOT Offshore Partners LP's enterprise value stands at 6.6x EBITDA, 10% below its 5-year average of 7.4x. The Industrials sector median is 13.9x, placing the stock at a 52% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.28 | 3.86 | 5.14 | 5.00 | 5.27 | 5.67 | 5.80 | 7.32 | 7.81 | 6.38 |
| EV / EBITDA | 6.63 | 5.58 | 8.28 | 7.95 | 8.12 | 6.90 | 7.34 | 7.44 | 9.59 | 9.80 | 8.57 |
| EV / EBIT | 16.72 | 12.85 | 33.24 | 13.43 | 16.84 | 15.08 | 14.49 | 12.16 | 16.02 | 16.28 | 17.45 |
| EV / FCF | — | 7.53 | 8.70 | 14.14 | 9.07 | 8.71 | 9.66 | 10.92 | 10.44 | 12.60 | 11.29 |
KNOP Profitability
Margins and return-on-capital ratios measuring operating efficiency
KNOT Offshore Partners LP earns an operating margin of 23.3%, significantly above the Industrials sector average of 4.9%. Operating margins have compressed from 24.7% to 23.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 2.3% is modest, trailing the sector median of 8.2%. ROIC of 3.7% represents below-average returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.1% | 64.1% | 27.8% | 26.9% | 38.9% | 46.0% | 46.9% | 47.9% | 46.0% | 49.8% | 50.7% |
| Operating Margin | 23.3% | 23.3% | 8.6% | 24.7% | 26.2% | 44.1% | 45.2% | 46.0% | 43.5% | 47.3% | 43.9% |
| Net Profit Margin | 4.5% | 4.5% | -11.8% | 21.8% | 19.2% | 23.4% | 20.9% | 29.4% | 31.1% | 35.2% | 26.1% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.3% | 2.3% | -5.5% | 8.9% | 7.9% | 9.3% | 8.2% | 11.2% | 10.9% | 11.7% | 8.6% |
| ROA | 0.9% | 0.9% | -2.1% | 3.4% | 3.1% | 3.7% | 3.3% | 4.5% | 4.4% | 4.9% | 3.5% |
| ROIC | 3.7% | 3.7% | 1.2% | 3.1% | 3.4% | 5.5% | 5.6% | 5.6% | 4.9% | 5.1% | 4.7% |
| ROCE | 5.3% | 5.3% | 1.8% | 4.6% | 4.7% | 7.7% | 7.6% | 7.6% | 6.6% | 6.9% | 6.3% |
KNOP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
KNOT Offshore Partners LP carries a Debt/EBITDA ratio of 4.9x, which is highly leveraged (56% above the sector average of 3.2x). Net debt stands at $839M ($906M total debt minus $67M cash). Interest coverage of just 1.1x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.48 | 1.48 | 1.58 | 1.62 | 1.44 | 1.48 | 1.40 | 1.47 | 1.41 | 1.42 | 1.29 |
| Debt / EBITDA | 4.93 | 4.93 | 7.08 | 6.10 | 5.60 | 4.84 | 4.57 | 4.94 | 6.13 | 5.36 | 5.82 |
| Net Debt / Equity | — | 1.37 | 1.47 | 1.55 | 1.35 | 1.40 | 1.34 | 1.41 | 1.34 | 1.37 | 1.24 |
| Net Debt / EBITDA | 4.57 | 4.57 | 6.61 | 5.82 | 5.24 | 4.59 | 4.37 | 4.75 | 5.86 | 5.16 | 5.61 |
| Debt / FCF | — | 6.16 | 6.95 | 10.36 | 5.86 | 5.80 | 5.76 | 6.97 | 6.38 | 6.64 | 7.40 |
| Interest Coverage | 1.12 | 1.12 | 0.35 | 1.53 | 2.53 | 3.80 | 2.48 | 2.51 | 2.97 | 3.70 | 3.79 |
KNOP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.33x is below 1.0, meaning current liabilities exceed current assets. The current ratio has improved from 0.22x to 0.33x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.33 | 0.33 | 0.70 | 0.22 | 0.64 | 0.31 | 0.51 | 0.41 | 0.46 | 0.40 | 0.40 |
| Quick Ratio | 0.32 | 0.32 | 0.67 | 0.21 | 0.61 | 0.30 | 0.49 | 0.39 | 0.44 | 0.39 | 0.39 |
| Cash Ratio | 0.23 | 0.23 | 0.50 | 0.12 | 0.54 | 0.25 | 0.42 | 0.32 | 0.38 | 0.36 | 0.36 |
| Asset Turnover | — | 0.20 | 0.18 | 0.15 | 0.17 | 0.16 | 0.16 | 0.15 | 0.12 | 0.13 | 0.13 |
| Inventory Turnover | 33.93 | 33.93 | 56.76 | 34.08 | 51.94 | 56.84 | 65.43 | 59.55 | 52.79 | 74.09 | 89.97 |
| Days Sales Outstanding | — | 18.12 | 9.51 | 14.86 | 3.46 | 7.49 | 6.54 | 3.65 | 0.95 | 0.32 | 1.17 |
KNOP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
KNOT Offshore Partners LP returns 2.7% to shareholders annually primarily through dividends. The payout ratio of 74.0% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 1.9% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.7% | 5.6% | 4.6% | 21.5% | 15.9% | 16.1% | 12.2% | 13.5% | 11.1% | 9.4% | 15.7% |
| Payout Ratio | 74.0% | 74.0% | — | 135.5% | 147.3% | 121.6% | 134.6% | 96.6% | 101.3% | 98.5% | 132.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.9% | 3.9% | — | 13.8% | 9.3% | 11.6% | 7.8% | 14.0% | 10.9% | 9.5% | 11.9% |
| FCF Yield | 35.8% | 72.9% | 56.9% | 26.4% | 31.1% | 34.3% | 25.6% | 25.3% | 24.6% | 16.8% | 25.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.7% |
| Total Shareholder Yield | 2.7% | 5.6% | 4.6% | 21.5% | 15.9% | 16.1% | 12.2% | 13.5% | 11.1% | 9.4% | 16.3% |
| Shares Outstanding | — | $34M | $39M | $38M | $37M | $33M | $33M | $33M | $30M | $27M | $25M |
Peer Comparison
Compare KNOP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 KNOPYou | $380M | 53.1 | 6.6 | 2.8 | 64.1% | 23.3% | 2.3% | 3.7% | 4.9 |
 TK | $1B | 9.6 | 1.1 | 2.9 | 32.3% | 29.9% | 7.2% | 19.1% | 0.1 |
 TNK | $3B | 7.9 | 6.6 | 24.5 | 27.5% | 22.6% | 18.5% | 12.5% | 0.2 |
 NAT | $1B | 26.2 | 10.9 | 9.7 | 30.3% | 22.1% | 8.9% | 7.5% | 2.0 |
 TEN | $1B | 8.6 | 6.5 | — | 34.2% | 34.6% | 10.3% | 6.9% | 4.2 |
 FRO | $8B | 16.9 | 10.5 | — | 34.4% | 38.1% | 21.5% | 10.6% | 3.3 |
 DHT | $3B | 14.5 | 12.3 | — | 38.2% | 34.2% | 19.4% | 8.9% | 1.6 |
 INSW | $4B | 13.8 | 10.0 | 111.2 | 42.3% | 36.3% | 16.0% | 9.4% | 1.2 |
 ASC | $767M | 21.4 | 7.4 | — | 34.2% | 26.1% | 6.5% | 9.0% | 1.1 |
 STNG | $4B | 11.7 | 8.4 | 8.7 | 46.2% | 33.0% | 11.4% | 7.2% | 1.3 |
 TRMD | $3B | 5.2 | 5.0 | 14.3 | 60.8% | 42.3% | 32.7% | 18.0% | 1.4 |
| Industrials Median | — | 25.9 | 13.9 | 20.6 | 32.8% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 14 years · Updated daily
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Start ComparisonKNOP — Frequently Asked Questions
Quick answers to the most common questions about buying KNOP stock.
What is KNOT Offshore Partners LP's P/E ratio?
KNOT Offshore Partners LP's current P/E ratio is 53.1x. The historical average is 13.5x. This places it at the 100th percentile of its historical range.
What is KNOT Offshore Partners LP's EV/EBITDA?
KNOT Offshore Partners LP's current EV/EBITDA is 6.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.9x.
What is KNOT Offshore Partners LP's ROE?
KNOT Offshore Partners LP's return on equity (ROE) is 2.3%. The historical average is 7.0%.
Is KNOP stock overvalued?
Based on historical data, KNOT Offshore Partners LP is trading at a P/E of 53.1x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is KNOT Offshore Partners LP's dividend yield?
KNOT Offshore Partners LP's current dividend yield is 2.72% with a payout ratio of 74.0%.
What are KNOT Offshore Partners LP's profit margins?
KNOT Offshore Partners LP has 64.1% gross margin and 23.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does KNOT Offshore Partners LP have?
KNOT Offshore Partners LP's Debt/EBITDA ratio is 4.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.