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Summit Midstream Partners, LP (SMLP)
Key financial summary
Financials in USD| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | TTM | ||
|---|---|---|---|---|---|---|---|---|
| Total revenue | $m | 507 | 444 | 383 | 401 | 370 | 459 | 465 |
| Operating profit | $m | 81 | 86 | |||||
| Net profit | $m | 42 | -32 | 192 | -28 | -123 | -39 | 108 |
| EPS reported | $ | -3.77 | 8.43 | |||||
| Operating cashflow per share | $ | 12.28 | 12.28 | |||||
| Capex per share | $ | 6.67 | 6.67 | |||||
| FCF per share | $ | 5.61 | 5.61 | |||||
| Free cash flow | $m | 58 | 52 | |||||
| Net debt | $m | 1,457 | 812 | |||||
| Book value equity | $m | 719 | 849 | |||||
| Book value per share | $ | 69.53 | 77.29 | |||||
| Number of shares | m | 10.33 | 10.98 | |||||
| DPS (TTM paid) | $ | 0.63 | 0.00 |
Financial summary
Financials in USD| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | TTM | ||
|---|---|---|---|---|---|---|---|---|
| Value | ||||||||
| P/E TTM | x | - | - | |||||
| P/B LTM | x | 0.26 | 0.48 | |||||
| P/S LTM | x | 0.40 | 0.87 | |||||
| P/FCF LTM | x | 3.19 | 7.80 | |||||
| EV/EBITDA LTM | x | 8.09 | 5.87 | |||||
| EV/Sales LTM | x | 3.61 | 2.62 | |||||
| Earnings Yield LTM | % | -21.04% | -9.90% | |||||
| FCF Yield | % | 31.34% | 12.82% | |||||
| Quality | ||||||||
| ROE | % | -5.42% | -5.25% | |||||
| ROIC | % | 3.40% | 3.40% | |||||
| Operating margin | % | 17.61% | 17.61% | |||||
| Gross margin | % | 26.79% | 26.79% | |||||
| FCF/Sales | % | 12.64% | 12.64% | |||||
| Growth and momentum | ||||||||
| EPS Growth YoY | % | - | - | |||||
| Sales Growth YoY | % | +24.16% | +20.55% | |||||
| Net Income Growth YoY | % | - | - | |||||
| FCF Growth | % | -15.04% | -19.04% | |||||
| Operating Profit Growth | % | - | - | |||||
| Dividend and capital structure | ||||||||
| Dividend Yield | % | 3.52% | 0.00% | |||||
| Dividend Growth | % | - | - | |||||
| Payout Ratio | % | -16.72% | 11.01% | |||||
| FCF/Debt | x | 0.04 | 0.04 | |||||
| Net Debt/EBITDA | x | 7.19 | 7.19 | |||||
| EBIT/Net interest | x | 0.57 | 0.57 | |||||
| Net debt/market cap | % | 787.03% | 200.35% | |||||
| Net debt/Equity | x | 2.03 | 0.96 | |||||
| Gross debt/equity | x | 2.06 | 1.36 | |||||
Company overview
Summit Midstream Partners, LP (SMLP) is an energy enterprise primarily dedicated to acquiring, expanding, and managing essential midstream infrastructure assets. The company predominantly concentrates its efforts on various shale formations located throughout the continental United States. SMLP's service offerings encompass a broad range of midstream activities, including the collection, compression, treatment, and processing of natural gas, as well as the gathering of crude oil and produced water. The firm's operational presence spans a diverse array of prominent unconventional resource basins. These key areas include the Utica and Point Pleasant shale formations in southeastern Ohio; the Williston Basin, which comprises the Bakken and Three Forks shale plays in northwestern North Dakota; and the Denver-Julesburg Basin in Colorado, home to the Niobrara and Codell shale formations. Operations also extend to the Permian Basin in New Mexico, targeting the Bone Spring and Wolfcamp shales. In western Colorado, SMLP is active within the Piceance Basin, handling production from the Mesaverde, Mancos, and Niobrara formations. Further strategic locations include the Barnett Shale in north-central Texas and the Marcellus Shale in northern West Virginia. Beyond its direct operations, Summit Midstream Partners possesses an ownership stake in Ohio Gathering, an entity that owns and operates facilities for natural gas gathering and condensate stabilization within southeastern Ohio's Utica Shale. The company primarily serves natural gas and crude oil producers. Established in 2009, SMLP is governed by its general partner, Summit Midstream GP, LLC, and its corporate headquarters are situated in Houston, Texas.
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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.

Summit Midstream Partners, LP (SMLP)
Summit Midstream Partners, LP (SMLP) is an energy enterprise primarily dedicated to acquiring, expanding, and managing essential midstream infrastructure assets. The company predominantly concentrates its efforts on various shale formations located throughout the continental United States. SMLP's service offerings encompass a broad range of midstream activities, including the collection, compression, treatment, and processing of natural gas, as well as the gathering of crude oil and produced water. The firm's operational presence spans a diverse array of prominent unconventional resource basins. These key areas include the Utica and Point Pleasant shale formations in southeastern Ohio; the Williston Basin, which comprises the Bakken and Three Forks shale plays in northwestern North Dakota; and the Denver-Julesburg Basin in Colorado, home to the Niobrara and Codell shale formations. Operations also extend to the Permian Basin in New Mexico, targeting the Bone Spring and Wolfcamp shales. In western Colorado, SMLP is active within the Piceance Basin, handling production from the Mesaverde, Mancos, and Niobrara formations. Further strategic locations include the Barnett Shale in north-central Texas and the Marcellus Shale in northern West Virginia. Beyond its direct operations, Summit Midstream Partners possesses an ownership stake in Ohio Gathering, an entity that owns and operates facilities for natural gas gathering and condensate stabilization within southeastern Ohio's Utica Shale. The company primarily serves natural gas and crude oil producers. Established in 2009, SMLP is governed by its general partner, Summit Midstream GP, LLC, and its corporate headquarters are situated in Houston, Texas.
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