NGL Energy Partners LP Financial Ratios — NGL-PC Stock

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	1.72	3.15	1.48	0.69	-3.26	2.31	-1.14	5.97	-6.4	-10.28	-3.07	0.89	-2.74	0.82	-3.24
Return on Capital (%)	10.48	16.31	8.7	- -	- -	9.27	- -	- -	- -	- -	- -	9.39	- -	- -	- -
Return on Invested Capital (%)	3.79	7.38	4.47	- -	- -	-0.06	- -	- -	- -	- -	- -	7.16	- -	- -	- -
Gross Margin (%)	5.98	7.01	4.6	3.87	5.74	2.35	6.93	5.69	9.42	7.96	6.54	12.62	16.9	20.39	22.79
EBITDA Margin (%)	2.46	3.74	2.5	2.14	3.96	1.51	5.61	4.4	7.06	7.96	6.08	10.93	13.48	18.1	19.64
Operating Margin (%)	1.15	1.98	1.14	0.88	1.84	-0.02	2.45	1.85	3.41	1.62	2.23	5.82	6.69	10.4	11.12
Incremental Operating Margin (%)	1.15	2.33	0.43	0.54	-1.34	- -	-3.01	-0.53	-8.82	7.37	3.4	-6.76	3.47	-12.13	3.11
Pretax Margin (%)	0.65	1.13	0.51	0.28	-1.6	0.76	-0.3	-0.9	-2.38	-12.26	-2.3	0.16	-3.76	1.73	-5.66
Profit Margin (%)	0.6	1.09	0.49	0.22	-1.69	1.08	-1.02	4.14	-5.23	-12.24	-2.32	0.9	-3.46	1.13	-4.51
Net Income to Common Margin (%)	0.6	1.02	0.35	-0.05	-2.1	0.84	-1.88	2.85	-7.72	-14.01	-3.63	-1.29	-6.82	-2.27	-12.85
Effective Tax Rate (%)	7.1	3.75	1.89	- -	- -	2	- -	- -	- -	- -	- -	2.37	- -	- -	- -
Dvd Payout Ratio (%)	242.89	150.89	366.65	1,132.88	-123.11	212.19	-204.38	-58.52	-15.15	-6.79	36.15	108.86	-13.13	-377.95	34.15
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Total Debt	219	749	1,637	2,732	2,921	2,993	2,680	2,161	3,327	3,472	3,467	2,950	2,951	3,084	3,350
ST Debt	20	9	7	4	8	30	1	1	61	49	44	34	36	37	45
LT Debt	199	740	1,630	2,727	2,913	2,963	2,680	2,160	3,266	3,423	3,423	2,916	2,914	3,047	3,305
Total Debt/EBITDA	6.79	4.54	6.74	7.61	6.28	15.6	6.87	5.65	6.22	8.35	7.17	4.75	5.27	4.91	5.41
Net Debt/EBITDA	6.55	4.47	6.7	7.49	6.22	15.54	6.81	5.6	5.84	7.97	6.93	4.59	5.02	4.72	5.21
Total Debt/EBIT	14.55	8.56	14.86	18.38	13.51	-1,009.47	15.75	13.42	12.87	41	19.55	8.92	10.62	8.55	9.54
Net Debt/EBIT	14.03	8.43	14.76	18.11	13.38	-1,005.33	15.62	13.3	12.1	39.16	18.89	8.62	10.12	8.22	9.19
EBITDA to Interest Expense	4.23	5	4.13	3.26	3.5	1.28	1.96	2.32	3.14	2.24	1.9	2.4	2.2	2.35	2.52
EBITDA-CapEx/Interest Expense	3.24	5	4.13	3.04	3.5	1.28	1.96	2.32	3.14	2.24	1.9	2.4	2.2	2.35	2.52
EBIT to Interest Expense	1.97	2.65	1.87	1.35	1.62	-0.02	0.85	0.98	1.52	0.46	0.7	1.28	1.09	1.35	1.43
Interest Expense	8	33	59	110	133	150	199	165	170	185	255	259	255	268	246
Common Equity/Total Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Equity (%)	49.14	83.25	106.4	101.26	171.94	132.85	123.57	88.98	143.68	228.29	270.49	221.18	291.68	437.18	- -
Long-Term Debt/Capital (%)	90.89	98.1	99.25	83.18	98.46	98.13	96.96	97.32	96.05	96.65	98.25	98.29	98.16	98.15	98.05
Long-Term Debt/Total Assets (%)	26.57	32.31	39.3	40.98	52.39	46.89	43.57	36.6	50.25	57.55	56.39	53.45	58.05	66.1	79.16
Total Debt/Equity (%)	53.96	84.22	106.86	101.43	172.41	134.18	123.6	89.01	146.39	231.58	273.94	223.77	295.32	442.45	-49,698.89
Total Debt/Capital (%)	99.8	99.24	99.68	83.32	98.73	99.11	96.98	97.35	97.85	98.04	99.5	99.44	99.39	99.33	99.39
Total Debt/Total Assets (%)	29.18	32.69	39.47	41.05	52.53	47.36	43.58	36.61	51.2	58.38	57.11	54.08	58.78	66.9	80.23
Net Debt to Equity	52.03	82.92	106.18	99.9	170.75	133.63	122.58	88.24	137.57	221.2	264.63	216.33	281.43	425.41	-47,857.56
Net Debt/Capital (%)	99.8	99.23	99.68	83.11	98.71	99.11	96.95	97.33	92.58	93.77	96.22	96.32	95.97	95.68	95.95
EBITDA	32	165	243	359	465	192	390	383	535	416	484	621	560	628	620
EBITDA-CapEx	25	165	243	335	465	192	390	383	535	416	484	621	560	628	620
Operating Income (Loss)	15	87	110	149	216	-3	170	161	258	85	177	331	278	361	351

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Cash Ratio	0.05	0.02	0.01	0.04	0.04	0.01	0.02	0.01	0.03	0.01	- -	- -	0.04	0.01	0.01
Current Ratio	1.37	1.16	1.32	1.47	1.46	1.58	1.99	1.45	0.92	1.11	1.21	1.16	1.21	1.3	1.05
Quick Ratio	0.65	0.91	0.92	0.97	0.8	0.87	0.93	0.82	0.71	0.81	0.89	0.95	0.77	0.79	0.91
CFO/Avg Current Liab	0.92	0.33	0.1	0.25	0.39	-0.03	0.13	0.28	0.44	0.35	0.19	0.37	0.36	0.35	0.49
Common Equity/Total Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Equity (%)	49.14	83.25	106.4	101.26	171.94	132.85	123.57	88.98	143.68	228.29	270.49	221.18	291.68	437.18	- -
Long-Term Debt/Capital (%)	90.89	98.1	99.25	83.18	98.46	98.13	96.96	97.32	96.05	96.65	98.25	98.29	98.16	98.15	98.05
Long-Term Debt/Total Assets (%)	26.57	32.31	39.3	40.98	52.39	46.89	43.57	36.6	50.25	57.55	56.39	53.45	58.05	66.1	79.16
Total Debt/Equity (%)	53.96	84.22	106.86	101.43	172.41	134.18	123.6	89.01	146.39	231.58	273.94	223.77	295.32	442.45	-49,698.89
Total Debt/Capital (%)	99.8	99.24	99.68	83.32	98.73	99.11	96.98	97.35	97.85	98.04	99.5	99.44	99.39	99.33	99.39
Total Debt/Total Assets (%)	29.18	32.69	39.47	41.05	52.53	47.36	43.58	36.61	51.2	58.38	57.11	54.08	58.78	66.9	80.23
CFO/Total Liabilities	26.24	9.46	3.26	6.62	9.09	-0.61	3.46	9.71	10.98	6.83	4.28	10.76	9.36	7.6	8.75
CFO/CapEx	11.97	- -	- -	10.83	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	3.29	3.73	4.49	4.64	4.15	3.6	2.2	2.48	2.15	1.43	2.11	1.9	1.53	1.56	1.44

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Accounts Receivable Turnover	20.42	13.66	13.47	17.65	15.18	19.23	7.61	8.58	9.61	7.95	8.51	5.21	4.71	5.34	5.08
Days Sales Outstanding	17.87	26.72	27.11	20.68	24.04	18.98	47.96	42.53	37.97	45.92	42.87	69.99	77.55	68.32	71.8
Inventory Turnover	22.99	37.11	42.34	42.95	27.33	26.71	11.63	23.84	66.77	42.18	36.26	25.2	27.7	31.29	35.51
Days Inventory Outstanding	15.88	9.84	8.62	8.5	13.35	13.67	31.38	15.31	5.47	8.65	10.07	14.49	13.18	11.66	10.28
Accounts Payable Turnover	20.52	13.07	14.09	19.68	17.09	23.05	8.5	8.83	9.45	8.08	8.52	4.82	4.36	4.95	5.09
Accounts Payable Turnover Days	17.79	27.94	25.9	18.55	21.35	15.83	42.93	41.32	38.64	45.17	42.83	75.67	83.7	73.73	71.76
Cash Conversion Cycle	15.96	8.62	9.83	10.63	16.04	16.81	36.41	16.52	4.8	9.4	10.11	8.81	7.03	6.26	10.31
Inventory to Cash Days	2	16.88	18.49	12.18	10.69	5.31	16.58	27.22	32.51	37.27	32.81	55.51	64.37	56.66	61.52
Inventories	95	127	310	442	368	561	551	136	70	158	251	143	107	70	67
Raw Materials	95	116	272	247	180	261	184	119	63	149	237	135	99	58	59
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	23	187	180	291	367	9	2	2	4	3	5	- -	- -
Other Inventory	- -	11	14	7	8	9	- -	7	4	7	11	5	3	11	9

Enterprise Value (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	8	12	10	41	28	12	22	19	23	5	4	5	39	6	9
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	6	5	547	38	27	84	59	73	69	17	17	18	21	21
+ Total Debt	219	749	1,637	2,732	2,921	2,993	2,680	2,161	3,327	3,472	3,467	2,950	2,951	3,084	3,350
Enterprise Value	211	743	1,632	3,238	2,930	3,008	2,742	2,201	3,378	3,537	3,480	2,961	2,930	3,099	3,362
Total Capital	219	755	1,642	3,279	2,958	3,020	2,764	2,220	3,400	3,541	3,484	2,967	2,969	3,104	3,371
Total Debt/Capital (%)	99.8	99.24	99.68	83.32	98.73	99.11	96.98	97.35	97.85	98.04	99.5	99.44	99.39	99.33	99.39
Total Debt / EV	1.04	1.01	1	0.84	1	1	0.98	0.98	0.99	0.98	1	1	1.01	1	1
EV/Sales	0.16	0.17	0.17	0.19	0.25	0.24	0.39	0.25	0.45	0.68	0.44	0.52	0.71	0.89	1.07
EV/EBITDA	6.56	4.5	6.72	9.02	6.3	15.68	7.03	5.75	6.31	8.5	7.2	4.77	5.23	4.93	5.43
EV/EBIT	14.06	8.49	14.81	21.79	13.56	- -	16.11	13.67	13.07	41.76	19.63	8.95	10.55	8.59	9.58
EV/Cash Flow to Firm	2.17	4.52	11.41	8.5	6.05	24.66	7.84	4.36	5.32	7.24	7.54	4.24	4.63	5.28	5.5
EV/Free Cash Flow to Firm	2.01	4.52	11.41	7.99	6.05	24.66	7.84	4.36	5.32	7.24	7.54	4.24	4.63	5.28	5.5
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	211	743	1,632	3,238	2,930	3,008	2,742	2,201	3,378	3,537	3,480	2,961	2,930	3,099	3,362
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	1,310	4,418	9,699	16,802	11,742	12,707	6,954	8,689	7,584	5,227	7,948	5,679	4,153	3,469	3,156
TTM EBITDA	32	165	243	359	465	192	390	383	535	416	484	621	560	628	620
TTM Operating Income	15	87	110	149	216	-3	170	161	258	85	177	331	278	361	351
TTM Cash Flow to Firm	97	164	143	381	484	122	350	505	635	488	462	698	633	587	612
TTM Free Cash Flow to Firm	105	164	143	405	484	122	350	505	635	488	462	698	633	587	612

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	14.06	8.49	14.81	21.79	13.56	- -	16.11	13.67	13.07	41.76	19.63	8.95	10.55	8.59	9.58
Enterprise Value	211	743	1,632	3,238	2,930	3,008	2,742	2,201	3,378	3,537	3,480	2,961	2,930	3,099	3,362
Low Price	- -	- -	- -	- -	- -	- -	- -	24.5	3.5	5.47	10	8.64	20.5	22.75	17.68
EV/Sales	0.16	0.17	0.17	0.19	0.25	0.24	0.39	0.25	0.45	0.68	0.44	0.52	0.71	0.89	1.07
EV/EBITDA	6.56	4.5	6.72	9.02	6.3	15.68	7.03	5.75	6.31	8.5	7.2	4.77	5.23	4.93	5.43
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	0.16	0.17	0.17	0.19	0.25	0.24	0.39	0.25	0.45	0.68	0.44	0.52	0.71	0.89	1.07
EV/Sales High	0.16	0.17	0.17	0.19	0.25	0.24	0.39	0.25	0.45	0.68	0.44	0.52	0.71	0.89	1.07
EV/Sales Low	0.16	0.17	0.17	0.19	0.25	0.24	0.39	0.25	0.45	0.68	0.44	0.52	0.71	0.89	1.07
EV/EBITDA Average	6.56	4.5	6.72	9.02	6.3	15.68	7.03	5.75	6.31	8.5	7.2	4.77	5.23	4.93	5.43
EV/EBITDA High	6.56	4.5	6.72	9.02	6.3	15.68	7.03	5.75	6.31	8.5	7.2	4.77	5.23	4.93	5.43
EV/EBITDA Low	6.56	4.5	6.72	9.02	6.3	15.68	7.03	5.75	6.31	8.5	7.2	4.77	5.23	4.93	5.43
EV/EBIT Average	14.06	8.49	14.81	21.79	13.56	-1,014.35	16.11	13.67	13.07	41.76	19.63	8.95	10.55	8.59	9.58
EV/EBIT High	14.06	8.49	14.81	21.79	13.56	-1,014.35	16.11	13.67	13.07	41.76	19.63	8.95	10.55	8.59	9.58
EV/EBIT Low	14.06	8.49	14.81	21.79	13.56	-1,014.35	16.11	13.67	13.07	41.76	19.63	8.95	10.55	8.59	9.58
Last Price	- -	- -	- -	- -	- -	- -	- -	25	7.1	15.46	17.18	20.25	28	24.05	25.39
High Price	- -	- -	- -	- -	- -	- -	- -	25.3	26.5	22	19.85	24.48	32.08	29.25	25.94
Enterprise Value Average	211	743	1,632	3,238	2,930	3,008	2,742	2,201	3,378	3,537	3,480	2,961	2,930	3,099	3,362
Enterprise Value High	211	743	1,632	3,238	2,930	3,008	2,742	2,201	3,378	3,537	3,480	2,961	2,930	3,099	3,362
Enterprise Value Low	211	743	1,632	3,238	2,930	3,008	2,742	2,201	3,378	3,537	3,480	2,961	2,930	3,099	3,362

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Shares Outstanding	29	54	79	104	104	120	121	125	129	130	131	132	133	132	124
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

NGL Energy Partners LP

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)