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MMLP: Martin Midstream Partners LP

Martin Midstream Partners L.P., together with its subsidiaries, provides terminalling, processing, storage, and packaging services for petroleum products and by-products in the United States. It opera...

3.12 USD
Price
USD
Fair Value
Upside
2.36 - 4.13
52-week range

Analysis

Fiscal Years
Trailing Twelve Months
Fiscal Halfs
Fiscal Quarters
Daily
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The following section summarizes insights on Martin Midstream Partners LP's EBITDA:

Dec 2016Dec 2018Dec 2020Dec 2022Dec 2024150 M250 M350 M

Performance Summary
  • Martin Midstream's latest twelve months ebitda is 106.5 million
  • Martin Midstream's ebitda for fiscal years ending December 2020 to 2024 averaged 199.5 million.
  • Martin Midstream's operated at median ebitda of 188 million from fiscal years ending December 2020 to 2024.
  • Looking back at the last 5 years, Martin Midstream's ebitda peaked in December 2021 at 315.1 million.
  • Martin Midstream's ebitda hit its 5-year low in December 2020 of 93.269 million.
  • Martin Midstream's ebitda decreased in 2020 (93.269 million, -11.0%), 2022 (294.6 million, -6.5%), 2023 (188 million, -36.2%), and 2024 (106.5 million, -43.4%) and increased in 2021 (315.1 million, +237.9%).

How does Martin Midstream's EBITDA benchmark against competitors?

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We've identified the following companies as similar to Martin Midstream Partners LP because they operate in a related industry or sector. We also considered size, growth, and various financial metrics to narrow down the list to the ones listed below.

Metric Usage: EBITDA

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ebitda
Slug
number
Datatype
text
Format
current
Default Period
FY, Q, LTM, YTD
Periods Supported
Free
Plan

To view the full list of supported financial metrics please see Complete Metrics Listing.

Similar Metrics

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Metrics similar to EBITDA in the financials category include:

  • Revenue - The revenue metric captures the total income generated by a company from its core operational activities
  • Other Current Liabilities - This item represents all residual data items that do not fit perfectly into any of the current liabilities categories separately categorized. If Other Current Liabilities are combined with accrued expenses or with any other liabilities, where Other Current Liabilities appear as first string and the company does not report the break up for the same, then the same will form part of this data item only.
  • Cash And Equivalents - The amount of cash held by the company for the given period.
  • Stock-Based Comp, SG&A Expense - This item represents the stock based compensation included in SG&A when available.
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EBITDA

Income before interest, taxes, depreciation and amortization adjusted for certain one-time items.

Definition of EBITDA

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EBITDA for Martin Midstream is calculated as follows:

Earnings Before Taxes [ -1.01 M ]
(+) Net Interest Expenses [ 57.706 M ]
(+) Non Operating Expenses [ 599 T ]
(+) Depreciation and Amortization [ 50.787 M ]
(+) Unusual Expenses [ -1.584 M ]

(=) EBITDA [ 106.5 M ]

EBITDA is defined as Earnings before Interest, Taxes, Depreciation and Amortization excluding unusual items. It is a commonly used metric in valuation as a proxy for operating profitability. EBITDA gives us a clearer picture of profitability when comparing companies with different capital structures. So why is it useful to use EBITDA and ignore interest, taxes, depreciation, and amortization when comparing the performance of different companies?

Difference in Interest Expense

Two companies that are otherwise similar may have different levels of debt. The company with higher debt will likely have higher interest expense and lower Net Income. Since EBITDA ignores interest expense, it is not directly affected by management’s financing decisions.

Difference in Taxes

The amount of a tax a company pays each year is determined by a wide range of factors that does not always reflect the profitability of the company since the taxes a company is subject to reflects factors like political jurisdictions, past loss carryforwards, research and development tax credits, and depreciation on capital assets to name a few.

Depreciation and Amortization

Two companies that are otherwise similar may purchase capital assets (machines, vehicles, buildings, etc.) at different times which can impact depreciation. Ignoring depreciation and amortization allows us to normalize income for these differences.

Unusual Items

Unusual items consist of income or expenses included in a company’s income statement from events, which are unusual and infrequent in nature.

EBITDA is most useful in ratios to benchmark profitability, growth, credit risk, and relative valution. Popular EBITDA benchmark metrics include ebitda margin, ebitda minus capex margin, ebitda growth, and ev / ebitda.


Click the link below to download a spreadsheet with an example EBITDA calculation for Martin Midstream Partners LP below:

Sector Benchmark Analysis

Sector
Industry Group
Industry
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0 K2 B4 B7.327 B0200400600

The chart above depicts the distribution of ebitda for companies operating in the Energy sector in the Developed economic region. Over 1,230 companies were considered in this analysis, and 1,190 had meaningful values. The average ebitda of companies in the sector is 276.9 M with a standard deviation of 934.8 M.

Martin Midstream Partners LP's EBITDA of 106.5 M ranks in the 77.0% percentile for the sector. The following table provides additional summary stats:

EBITDA In The Energy Sector
Economic Risk RegionDeveloped
Total Constituents1,239
Included Constituents1,190
Min-18.44 M
Max7.307 B
Median0 K
Mean276.9 M
Standard Deviation934.8 M

You can find companies with similar ebitda using this stock screener.

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