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Magellan Midstream Partners, L.P. (MMP)
Key financial summary
Financials in USD| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | TTM | ||
|---|---|---|---|---|---|---|---|---|
| Total revenue | $m | 2,508 | 2,827 | 2,728 | 2,428 | 2,733 | 3,200 | 3,484 |
| Operating profit | $m | 796 | 1,148 | |||||
| Net profit | $m | 870 | 1,334 | 1,021 | 817 | 982 | 1,036 | 1,030 |
| EPS reported | $ | 4.95 | 5.02 | |||||
| Operating cashflow per share | $ | 5.45 | 5.45 | |||||
| Capex per share | $ | 0.84 | 0.84 | |||||
| FCF per share | $ | 4.61 | 4.61 | |||||
| Free cash flow | $m | 966 | 1,316 | |||||
| Net debt | $m | 5,161 | 4,856 | |||||
| Book value equity | $m | -94 | -94 | |||||
| Book value per share | $ | -0.45 | -0.46 | |||||
| Number of shares | m | 209.6 | 203.1 | |||||
| DPS (TTM paid) | $ | 4.16 | 4.44 |
Financial summary
Financials in USD| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | TTM | ||
|---|---|---|---|---|---|---|---|---|
| Value | ||||||||
| P/E TTM | x | 10.14 | - | |||||
| P/B LTM | x | -111.97 | -148.51 | |||||
| P/S LTM | x | 3.29 | 4.00 | |||||
| P/FCF LTM | x | 10.88 | 10.60 | |||||
| EV/EBITDA LTM | x | 14.39 | 13.79 | |||||
| EV/Sales LTM | x | 4.90 | 5.40 | |||||
| Earnings Yield LTM | % | 9.86% | 7.17% | |||||
| FCF Yield | % | 9.19% | 9.43% | |||||
| Quality | ||||||||
| ROE | % | -1103.7% | -832.78% | |||||
| ROIC | % | 11.32% | 11.32% | |||||
| Operating margin | % | 24.88% | 24.88% | |||||
| Gross margin | % | 55.87% | 55.87% | |||||
| FCF/Sales | % | 30.18% | 30.18% | |||||
| Growth and momentum | ||||||||
| EPS Growth YoY | % | +10.74% | +30.05% | |||||
| Sales Growth YoY | % | +17.10% | +19.66% | |||||
| Net Income Growth YoY | % | +5.54% | +24.41% | |||||
| FCF Growth | % | -7.79% | +57.88% | |||||
| Operating Profit Growth | % | -7.21% | +11.65% | |||||
| Dividend and capital structure | ||||||||
| Dividend Yield | % | 8.27% | 6.43% | |||||
| Dividend Growth | % | +0.97% | - | |||||
| Payout Ratio | % | 83.94% | 82.96% | |||||
| FCF/Debt | x | 0.19 | 0.26 | |||||
| Net Debt/EBITDA | x | 4.74 | 4.74 | |||||
| EBIT/Net interest | x | 3.49 | 3.49 | |||||
| Net debt/market cap | % | 49.09% | 34.82% | |||||
| Net debt/Equity | x | -54.96 | -51.71 | |||||
| Gross debt/equity | x | -54.98 | -54.12 | |||||
Company overview
Magellan Midstream Partners, L.P. (MMP) is an energy infrastructure firm primarily engaged in the logistics of refined petroleum products and crude oil throughout the United States. The company's operations are divided into two principal business units: Refined Products and Crude Oil. Its Refined Products segment oversees an extensive pipeline system for transporting a variety of fuels, including gasoline, diesel fuel, aviation fuel, kerosene, and heating oil. This network serves a broad spectrum of clients, from wholesalers, retailers, and traders to major transportation providers like railroads and airlines, as well as local farm cooperatives. These products ultimately reach diverse end-markets such as retail gasoline stations, truck stops, agricultural cooperatives, railway fueling depots, military bases, and commercial airports. In addition to transport, this segment offers critical services like pipeline capacity, tank storage, terminalling, specialized handling for ethanol and biodiesel (unloading and loading), additive injection, custom blending, laboratory analysis, and data services. Separately, the Crude Oil segment owns and manages a network of crude oil pipelines and storage facilities. This division also operates marine terminals situated along coastal areas, which provide comprehensive asset management solutions—from design and installation to construction, testing, ongoing operation, replacement, and overall administration—for refiners, marketers, and traders. As of December 31, 2021, MMP's infrastructure included a 9,800-mile refined products pipeline system featuring 54 associated terminals. Its crude oil assets comprised approximately 2,200 miles of pipelines and storage facilities with a total capacity of around 39 million barrels, in addition to two marine terminals. The company was founded in 2000 and has its corporate headquarters in Tulsa, Oklahoma.
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For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
Magellan Midstream Partners, L.P. (MMP)
Magellan Midstream Partners, L.P. (MMP) is an energy infrastructure firm primarily engaged in the logistics of refined petroleum products and crude oil throughout the United States. The company's operations are divided into two principal business units: Refined Products and Crude Oil. Its Refined Products segment oversees an extensive pipeline system for transporting a variety of fuels, including gasoline, diesel fuel, aviation fuel, kerosene, and heating oil. This network serves a broad spectrum of clients, from wholesalers, retailers, and traders to major transportation providers like railroads and airlines, as well as local farm cooperatives. These products ultimately reach diverse end-markets such as retail gasoline stations, truck stops, agricultural cooperatives, railway fueling depots, military bases, and commercial airports. In addition to transport, this segment offers critical services like pipeline capacity, tank storage, terminalling, specialized handling for ethanol and biodiesel (unloading and loading), additive injection, custom blending, laboratory analysis, and data services. Separately, the Crude Oil segment owns and manages a network of crude oil pipelines and storage facilities. This division also operates marine terminals situated along coastal areas, which provide comprehensive asset management solutions—from design and installation to construction, testing, ongoing operation, replacement, and overall administration—for refiners, marketers, and traders. As of December 31, 2021, MMP's infrastructure included a 9,800-mile refined products pipeline system featuring 54 associated terminals. Its crude oil assets comprised approximately 2,200 miles of pipelines and storage facilities with a total capacity of around 39 million barrels, in addition to two marine terminals. The company was founded in 2000 and has its corporate headquarters in Tulsa, Oklahoma.
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