Bedrijfsoverzicht
Suburban Propane Partners, L.P. is a prominent entity within the Utilities sector, specifically operating in the Regulated Gas industry, where it focuses on the retail marketing and distribution of propane, renewable propane, renewable natural gas, fuel oil, and refined fuels across the United States. The company's operational footprint is substantial, employing a workforce of 3,190 individuals to support its extensive distribution network and fuel supply chain. Financially, the enterprise commands a market capitalization of $1.31 billion, supported by a trailing twelve-month revenue generation of $1.43 billion. These valuation and revenue metrics indicate that the company maintains a significant position within its specific niche, reflecting a mature business model with established customer contracts and a stable presence in the energy landscape.
Financiële gezondheid
The company reported a total revenue of $1.43 billion for the trailing twelve months, resulting in a net income of $132.93 million and an EBITDA of $285.83 million. The substantial gap between the $1.43 billion in revenue and the $132.93 million in net income highlights a significant cost structure comprising operating expenses, taxes, and interest costs, which are typical for a capital-intensive utility distribution business. Free cash flow stood at $49.03 million, a figure that represents the cash remaining after capital expenditures and operational costs, providing the company with a baseline level of financial flexibility for debt servicing or minor capital investments. Regarding profitability efficiency, the gross margin is recorded at 26.9%, indicating the portion of revenue left after direct costs of goods sold, while the operating margin of 18.2% reflects efficiency in managing overhead and operational expenses. The profit margin of 9.3% further demonstrates the final profitability after all expenses, including taxes and interest, are deducted. In terms of liquidity and leverage, the company holds $1.28 million in cash against $1.43 billion in total debt, a disparity underscored by a debt-to-equity ratio of 229.14, which suggests a highly leveraged balance sheet reliant on debt financing. The current ratio is calculated at 0.87, indicating that the company's current assets are insufficient to cover its current liabilities without relying on external financing or asset liquidation, pointing to potential short-term liquidity constraints. Return on equity stands at 22.7%, while return on assets is 5.6%, revealing that the company generates high returns for shareholders relative to the equity base but utilizes its total asset base at a lower efficiency rate.
Waarderingsbeoordeling
Valuation metrics for Suburban Propane Partners, L.P. show a trailing P/E ratio of 9.82 and a forward P/E of 9.62. The minimal difference between these two ratios implies that the market does not anticipate a significant acceleration in earnings growth over the next year, suggesting expectations of earnings stability rather than rapid expansion. The price-to-book ratio is 2.09, which indicates that the market values the company at more than double its book value, reflecting a premium assigned to its tangible assets and brand equity within the regulated gas industry. Alternative valuation measures include a price-to-sales ratio of 0.92 and an EV/EBITDA of 9.59; the price-to-sales figure suggests the company trades at less than one dollar of sales per dollar of market value, while the EV/EBITDA of 9.59 places the enterprise value in a context relative to its earnings before interest, taxes, depreciation, and amortization. The stock has traded between a 52-week high of $21.21 and a 52-week low of $17.30, and without the current price explicitly provided in the source facts, the precise percentage deviation from these bounds cannot be calculated, though the range demonstrates the recent volatility experienced by the stock. The beta value is 0.40, indicating that the stock's price volatility is significantly lower than that of the broader market, as a beta less than 1.0 suggests the asset is less sensitive to systemic market movements.
Growth & Income
Growth dynamics for the company show a revenue growth year-over-year of -0.8% and an earnings growth year-over-year of 130.0%. This divergence indicates that earnings are growing substantially faster than revenue, a phenomenon often driven by cost reductions, operational efficiencies, or non-recurring gains rather than top-line expansion. As a dividend payer, the company offers a dividend yield of 6.6% with a payout ratio of 64.7%, suggesting that the dividend is paid from a substantial portion of earnings, which requires monitoring to ensure sustainability given the recent revenue contraction. The elevated payout ratio in the context of declining revenue implies that maintaining the dividend yield may become challenging if earnings do not sustain their current growth rate. Overall, the growth and income profile is characterized by significant earnings expansion offsetting flat revenue, coupled with a high-yield dividend that provides income but presents sustainability risks under current revenue trends.