USD Partners LP Financial Ratios — USDP 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
Return on Common Equity (%)	- -	72.14	-375.92	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	7.7	-0.37	7.42	8.06	7.03	7.18	2.26	-7.33	9.42	-32.79
Return on Capital (%)	- -	- -	- -	12.92	- -	- -	- -	7.55	- -	14.84	- -
Return on Invested Capital (%)	- -	- -	- -	8.35	- -	- -	- -	6.86	- -	12.12	- -
Gross Margin (%)	25.61	22.54	25.85	42.6	44.08	40.95	40.15	34.73	44.89	47.23	33.78
EBITDA Margin (%)	14.56	7.49	9.08	34.94	50.86	47.43	42.4	36.34	29.67	23.99	28.27
Operating Margin (%)	12.59	5.59	1.79	27.46	30.45	27.09	24.7	18.15	16.45	12.66	10.68
Incremental Operating Margin (%)	- -	-116.55	-8.39	47.75	38.24	114.26	-0.28	158.28	13.02	-6.08	15.04
Pretax Margin (%)	4.35	-6.89	-20.75	28.68	22.37	17.83	15.49	6.32	-11.16	11.62	-53.73
Profit Margin (%)	1,851.57	24.34	-1.31	21.64	22.58	19.6	17.72	5.73	-11.35	11.16	-54.89
Net Income to Common Margin (%)	1,814.54	23.85	-20.84	21.21	22.13	19.07	17.07	5.03	-11.45	10.32	-53.66
Effective Tax Rate (%)	2.41	- -	- -	24.54	- -	- -	- -	9.22	- -	3.93	- -
Dvd Payout Ratio (%)	3.83	-376.79	-684.15	136.56	116.4	166.24	190.88	712.6	-102.85	54.87	-28.55
Sustainable Growth Rate (%)	- -	343.96	-2,947.78	- -	- -	- -	- -	- -	- -	- -	- -

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
Total Debt	30	81	78	239	221	201	206	230	205	177	215
ST Debt	- -	51	- -	- -	- -	- -	- -	5	5	9	215
LT Debt	30	30	78	239	221	201	206	225	200	168	1
Total Debt/EBITDA	8.36	41.09	23.93	8.38	3.84	3.89	4.07	5.56	4.07	3.61	6.83
Net Debt/EBITDA	7.12	37.97	11.66	8.02	3.63	3.73	3.94	5.2	3.81	3.39	6.7
Total Debt/EBIT	9.67	55.13	121.26	10.66	6.41	6.81	6.98	11.13	7.33	6.84	18.07
Net Debt/EBIT	8.24	50.95	59.06	10.2	6.07	6.54	6.76	10.4	6.88	6.42	17.74
EBITDA to Interest Expense	4.34	1.08	0.86	7.57	6.4	5.69	4.82	3.78	5.62	8.52	3.32
EBITDA-CapEx/Interest Expense	3.41	-29.73	-8.02	7.13	6.35	2.65	3.98	3.01	5.26	7.62	3.27
EBIT to Interest Expense	3.75	0.81	0.17	5.95	3.84	3.25	2.81	1.89	3.12	4.5	1.26
Interest Expense	1	2	4	4	9	9	10	11	9	6	10
Common Equity/Total Assets	22.72	3.73	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Equity (%)	224.11	1,152.52	205.41	481.2	471.81	236.34	295.95	548.12	3,188.77	769.45	- -
Long-Term Debt/Capital (%)	68.72	35.3	100	100	100	100	100	97.98	97.42	94.96	0.32
Long-Term Debt/Total Assets (%)	50.9	27.97	52.91	72.91	72.2	66.65	71.56	77.72	84.14	68.08	0.54
Total Debt/Equity (%)	226.1	3,111.45	205.41	481.2	471.81	236.34	295.95	559.45	3,273.18	810.29	-191.7
Total Debt/Capital (%)	69.33	95.29	100	100	100	100	100	100	100	100	100
Total Debt/Total Assets (%)	51.36	75.5	52.91	72.91	72.2	66.65	71.56	79.32	86.37	71.69	169.97
Net Debt to Equity	192.7	2,875.14	100.04	460.1	446.81	227.06	286.68	522.62	3,070.2	759.92	-188.22
Net Debt/Capital (%)	65.83	94.92	100	100	100	100	100	94.69	95.21	96.81	99.35
EBITDA	4	2	3	29	58	52	51	41	50	49	32
EBITDA-CapEx	3	-54	-30	27	57	24	42	33	47	44	31
Operating Income (Loss)	3	1	1	22	34	29	29	21	28	26	12

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
Cash Ratio	0.31	0.09	1.55	0.3	0.31	0.75	0.56	0.16	0.16	0.12	0.01
Current Ratio	1.31	0.6	2.36	1.02	0.93	2	1.82	1.11	1.15	0.62	0.06
Quick Ratio	0.38	0.12	1.71	0.48	0.44	1.18	1.06	0.54	0.52	0.3	0.02
CFO/Avg Current Liab	- -	0.3	-0.06	1.19	1.49	2.01	4.09	2.52	2.7	1.76	0.27
Common Equity/Total Assets	22.72	3.73	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Equity (%)	224.11	1,152.52	205.41	481.2	471.81	236.34	295.95	548.12	3,188.77	769.45	- -
Long-Term Debt/Capital (%)	68.72	35.3	100	100	100	100	100	97.98	97.42	94.96	0.32
Long-Term Debt/Total Assets (%)	50.9	27.97	52.91	72.91	72.2	66.65	71.56	77.72	84.14	68.08	0.54
Total Debt/Equity (%)	226.1	3,111.45	205.41	481.2	471.81	236.34	295.95	559.45	3,273.18	810.29	-191.7
Total Debt/Capital (%)	69.33	95.29	100	100	100	100	100	100	100	100	100
Total Debt/Total Assets (%)	51.36	75.5	52.91	72.91	72.2	66.65	71.56	79.32	86.37	71.69	169.97
CFO/Total Liabilities	118.84	12.09	-2.8	12.99	20.73	22.13	20.72	15.47	21.87	25.71	15.57
CFO/CapEx	70.02	0.23	-0.09	21.67	113.35	1.73	5.12	4.55	15.83	11.16	79.57
Altman's Z-Score	1.01	0.03	2.16	1.27	2.22	2.11	2.12	1.65	1.75	1.74	-0.63

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
Accounts Receivable Turnover	- -	17.49	11.38	15.46	21.03	23.86	23.07	17.69	25.01	26.69	19.6
Days Sales Outstanding	- -	20.87	32.07	23.61	17.36	15.3	15.82	20.63	14.59	13.68	18.62
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	71.3	48.86
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.12	7.47
Accounts Payable Turnover	- -	5.23	4.68	10.8	18.72	24.02	20.87	19.84	32.32	9.21	5.38
Accounts Payable Turnover Days	- -	69.79	78	33.8	19.49	15.19	17.49	18.39	11.29	39.62	67.87
Cash Conversion Cycle	- -	-48.92	-45.93	-10.19	-2.14	0.1	-1.67	2.24	3.3	-20.83	-41.78
Inventory to Cash Days	- -	20.87	32.07	23.61	17.36	15.3	15.82	20.63	14.59	8.56	11.15
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	- -

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
Market Capitalization	- -	- -	296	164	359	291	273	263	92	144	105
- Cash & Cash Equivalents	4	6	40	10	12	8	6	3	3	6	3
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	30	81	78	239	221	201	206	230	205	177	215
Enterprise Value	26	75	334	393	568	484	472	489	294	316	318
Total Capital	44	85	78	239	221	201	206	230	205	177	215
Total Debt/Capital (%)	69.33	95.29	100	100	100	100	100	100	100	100	100
Total Debt / EV	1.17	1.08	0.23	0.61	0.39	0.41	0.44	0.47	0.7	0.56	0.68
EV/Sales	1.04	2.85	9.26	4.8	5.02	4.45	3.96	4.3	1.73	1.54	2.85
EV/EBITDA	7.12	37.97	101.99	13.74	9.87	9.38	9.34	11.85	5.82	6.44	10.09
EV/EBIT	8.24	50.95	516.72	17.48	16.48	16.42	16.04	23.71	10.5	12.2	26.7
EV/Cash Flow to Firm	0.47	5.16	413.6	10.05	9.04	8.38	8.27	10.12	4.92	4.98	6.78
EV/Free Cash Flow to Firm	0.46	1.06	9.68	9.64	8.97	5.67	7.16	8.61	4.67	4.6	6.72
Diluted Market Cap	- -	- -	296	164	359	291	273	263	92	144	105
Diluted Enterprise Value	26	75	334	393	568	484	472	489	294	316	318
EV per Share	1.25	3.62	16	17.37	25.02	18.69	18.07	18.46	10.94	11.58	9.54
TTM Sales	25	26	36	82	113	109	119	114	170	204	112
TTM EBITDA	4	2	3	29	58	52	51	41	50	49	32
TTM Operating Income	3	1	1	22	34	29	29	21	28	26	12
TTM Cash Flow to Firm	55	15	1	39	63	58	57	48	60	63	47
TTM Free Cash Flow to Firm	56	71	35	41	63	85	66	57	63	69	47

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
Price/Free Cash Flow	- -	- -	9.66	4.32	6.62	3.86	5.06	5.6	1.7	2.29	2.8
EV/EBIT	8.24	50.95	516.72	17.48	16.48	16.42	16.04	23.71	10.5	12.2	26.7
Enterprise Value	26	75	334	393	568	484	472	489	294	316	318
Low Price	- -	- -	12.1	6	4.72	9	9.15	8.86	1	3.3	3.01
EV/Sales	1.04	2.85	9.26	4.8	5.02	4.45	3.96	4.3	1.73	1.54	2.85
EV/EBITDA	7.12	37.97	101.99	13.74	9.87	9.38	9.34	11.85	5.82	6.44	10.09
Price/Earnings	- -	- -	- -	9.43	14.32	14.04	13.42	45.92	- -	6.84	- -
Price/Earnings Average	- -	- -	-42.46	15.03	9.55	15.23	13.71	49.48	-6.2	7.71	-2.85
Price/Earnings High	- -	- -	-48.55	20.04	15.22	21.84	15.41	55.37	-14.66	10.69	-3.84
Price/Earnings Low	- -	- -	-33.61	7.82	4.28	11.23	11.75	41.05	-1.38	4.27	-1.68
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	7.75	-1.5	-3.63	-6.07	-5.37	-3.94	-1.66	-5.34	-0.91
Price/Tangible Book Value Average	- -	- -	8.36	-2.4	-2.42	-6.58	-5.49	-4.25	-2.19	-6.01	-1.47
Price/Tangible Book Value High	- -	- -	9.56	-3.19	-3.86	-9.44	-6.17	-4.75	-5.17	-8.34	-1.99
Price/Tangible Book Value Low	- -	- -	6.62	-1.25	-1.09	-4.85	-4.71	-3.52	-0.49	-3.33	-0.87
Price/Sales	- -	- -	8.2	2	3.17	2.68	2.29	2.31	0.54	0.71	0.94
Price/Sales Average	- -	- -	8.85	3.19	2.11	2.9	2.34	2.49	0.71	0.8	1.53
Price/Sales High	- -	- -	10.12	4.25	3.37	4.17	2.63	2.79	1.68	1.1	2.06
Price/Sales Low	- -	- -	7	1.66	0.95	2.14	2.01	2.07	0.16	0.44	0.9
Price/Cash Flow	- -	- -	-95.98	4.52	6.67	6.09	6.05	6.83	1.81	2.49	2.83
Price/Cash Flow Average	- -	- -	-103.55	7.2	4.45	6.61	6.19	7.36	2.39	2.81	4.59
Price/Cash Flow High	- -	- -	-118.41	9.6	7.1	9.48	6.95	8.24	5.65	3.9	6.18
Price/Cash Flow Low	- -	- -	-81.96	3.74	1.99	4.87	5.3	6.11	0.53	1.55	2.7
Price/Free Cash Flow Average	- -	- -	10.42	6.88	4.41	4.19	5.17	6.04	2.25	2.58	4.53
Price/Free Cash Flow High	- -	- -	11.92	9.18	7.03	6.01	5.81	6.76	5.31	3.58	6.11
Price/Free Cash Flow Low	- -	- -	8.25	3.58	1.98	3.09	4.43	5.01	0.5	1.43	2.66
EV/Sales Average	1.04	2.85	9.91	5.99	3.96	4.68	4.01	4.48	1.9	1.63	3.44
EV/Sales High	1.04	2.85	11.18	7.05	5.22	5.94	4.3	4.78	2.87	1.94	3.97
EV/Sales Low	1.04	2.85	8.06	4.46	2.8	3.91	3.68	4.06	1.35	1.28	2.81
EV/EBITDA Average	7.12	37.97	109.11	17.14	7.79	9.86	9.46	12.34	6.4	6.81	12.16
EV/EBITDA High	7.12	37.97	123.09	20.18	10.26	12.52	10.14	13.16	9.67	8.09	14.04
EV/EBITDA Low	7.12	37.97	88.79	12.76	5.5	8.25	8.67	11.17	4.54	5.33	9.93
EV/EBIT Average	8.24	50.95	552.78	21.8	13.01	17.26	16.24	24.7	11.54	12.91	32.18
EV/EBIT High	8.24	50.95	623.63	25.67	17.13	21.91	17.41	26.33	17.43	15.34	37.17
EV/EBIT Low	8.24	50.95	449.87	16.23	9.18	14.45	14.88	22.36	8.18	10.1	26.28
Last Price	- -	- -	14.17	7.24	15.8	11.25	10.45	9.91	3.41	5.29	3.16
High Price	- -	- -	17.48	15.38	16.8	17.5	12	11.95	10.64	8.27	6.9
Enterprise Value Average	26	75	358	490	448	509	478	510	323	334	384
Enterprise Value High	26	75	403	576	590	646	513	543	488	397	443
Enterprise Value Low	26	75	291	365	316	426	438	461	229	262	313

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y
Shares Outstanding	21	21	21	23	23	26	26	27	27	27	33
Diluted Weighted Avg Shares	21	21	21	23	23	26	26	27	27	27	33
Basic Weighted Avg Shares	21	21	21	23	23	26	26	27	27	27	33
Revenue per Share	1.2	1.27	1.73	3.62	4.99	4.2	4.56	4.29	6.34	7.5	3.34
EBITDA per Share	0.18	0.1	0.16	1.26	2.54	1.99	1.93	1.56	1.88	1.8	0.95
Operating Income per Share	0.15	0.07	0.03	0.99	1.52	1.14	1.13	0.78	1.04	0.95	0.36
Basic EPS, GAAP	21.83	0.3	-0.36	0.77	1.1	0.8	0.78	0.22	-0.73	0.77	-1.79
Basic EPS from Cont Ops	0.05	-0.09	-0.37	0.78	1.13	0.82	0.81	0.25	-0.72	0.84	-1.84
Diluted EPS, GAAP	21.83	0.3	-0.36	0.77	1.1	0.8	0.78	0.22	-0.73	0.77	-1.79
Diluted EPS from Cont Ops	0.05	-0.09	-0.37	0.78	1.13	0.82	0.81	0.25	-0.72	0.84	-1.84
Dividend per Share	0.43	0.36	5.16	1.06	1.31	1.35	1.52	1.57	0.75	0.49	0.47
Cash Flow per Share	2.62	0.61	-0.15	1.6	2.37	1.85	1.73	1.45	1.88	2.12	1.12
Free Cash Flow per Basic Share	2.58	-2.1	-1.76	1.53	2.35	0.78	1.39	1.13	1.76	1.93	1.1
Cash & Equivalents per Share	0.22	0.3	1.93	0.46	0.52	0.3	0.25	0.12	0.11	0.2	0.08
Book Value per Share	0.65	0.19	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	0.65	0.13	1.83	-4.81	-4.35	-1.85	-1.94	-2.51	-2.06	-0.99	-3.47

USD Partners LP

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)