NASDAQ : MMLP
Martin Midstream Partners L.P. — Financial statements
Energy · Oil & Gas Midstream · United States
Last price 1.98 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 79.05M
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Financial statements
Martin Midstream Partners L.P. (MMLP) reported revenue of 807.18M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 807.18M | 716.11M | 707.62M | 797.96M | 1.02B | 882.43M |
| Cost of Revenue | 670.68M | 577.05M | 552.62M | 641.89M | 682.42M | 530.58M |
| Gross Profit | 136.50M | 139.06M | 155.00M | 156.07M | 336.46M | 351.86M |
| Selling, General & Admin | 41.38M | 42.00M | 48.50M | 40.83M | 41.81M | 36.72M |
| Operating Expenses | 92.84M | 92.20M | 99.29M | 90.72M | 98.09M | 93.47M |
| Operating Income | 43.66M | 46.86M | 55.71M | 65.35M | 238.37M | 258.38M |
| Interest Expense | -57.58M | -57.79M | -57.71M | -60.29M | -53.66M | -54.11M |
| Earnings From Equity Investments | -1.09M | -1.12M | -624.00K | |||
| Other Non Operating Income (Expenses) | 16.00K | 33.00K | 25.00K | 56.00K | -5.00K | -4.00K |
| EBT Excluding Unusual Items | -15.00M | -12.01M | -2.59M | 5.12M | 184.69M | 204.27M |
| Merger & Restructuring Charges | 1.02M | -192.77M | -200.77M | |||
| Gain (Loss) on Sale of Assets | 5.50M | 2.04M | 1.58M | 1.37M | 5.67M | -534.00K |
| Other Unusual Items | -5.12M | |||||
| Pretax Income | -8.48M | -9.97M | -1.01M | 1.37M | -2.41M | 3.17M |
| Income Tax Expense | 2.68M | 4.77M | 4.20M | 5.92M | 7.93M | 3.38M |
| Earnings From Continuing Operations | -11.15M | -14.74M | -5.21M | -4.55M | -10.33M | -211.00K |
| Net Income to Company | -11.15M | -14.74M | -5.21M | -4.55M | -10.33M | -211.00K |
| Minority Interest in Earnings | 223.00K | 295.00K | 104.00K | 91.00K | 207.00K | 4.00K |
| Net Income | -10.93M | -14.45M | -5.10M | -4.46M | -10.13M | -207.00K |
| Preferred Dividends & Other Adjustments | -44.00K | -61.00K | -25.00K | -14.00K | -40.00K | |
| Net Income to Common | -10.88M | -14.39M | -5.08M | -4.44M | -10.09M | -207.00K |
| Shares Outstanding (Basic) | 38.94M | 38.89M | 38.83M | 38.77M | 38.73M | 38.69M |
| Shares Outstanding (Diluted) | 38.94M | 38.89M | 38.83M | 38.77M | 38.73M | 38.69M |
| EPS (Basic) | -0.28 | -0.37 | -0.13 | -0.11 | -0.26 | -0.01 |
| EPS (Diluted) | -0.28 | -0.37 | -0.13 | -0.11 | -0.26 | -0.01 |
| Free Cash Flow | -18.66M | 21.36M | 6.34M | 103.15M | -11.09M | 19.67M |
| Free Cash Flow Per Share | -0.48 | 0.55 | 0.16 | 2.66 | -0.29 | 0.51 |
| Dividend Per Share | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Gross Margin | 16.91% | 19.42% | 21.90% | 19.56% | 33.02% | 39.87% |
| Operating Margin | 5.41% | 6.54% | 7.87% | 8.19% | 23.39% | 29.28% |
| Profit Margin | -1.35% | -2.01% | -0.72% | -0.56% | -0.99% | -0.02% |
| Free Cash Flow Margin | -2.31% | 2.98% | 0.90% | 12.93% | -1.09% | 2.23% |
| EBITDA | 95.13M | 97.06M | 106.50M | 115.25M | 294.64M | 315.14M |
| EBITDA Margin | 11.79% | 13.55% | 15.05% | 14.44% | 28.92% | 35.71% |
| D&A For EBITDA | 51.46M | 50.20M | 50.79M | 49.90M | 56.28M | 56.75M |
| EBIT | 43.66M | 46.86M | 55.71M | 65.35M | 238.37M | 258.38M |
| EBIT Margin | 5.41% | 6.54% | 7.87% | 8.19% | 23.39% | 29.28% |
| Effective Tax Rate | 432.29% | 106.66% | ||||
| Revenue as Reported | 807.18M | 716.11M | 707.62M | 797.96M | 1.02B | 882.43M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 48.00K | 49.00K | 55.00K | 54.00K | 45.00K | 52.00K |
| Cash & Short-Term Investments | 48.00K | 49.00K | 55.00K | 54.00K | 45.00K | 52.00K |
| Accounts Receivable | 90.98M | 67.31M | 67.26M | 61.22M | 87.65M | 98.61M |
| Other Receivables | 44.00K | 29.00K | 374.00K | 70.00K | ||
| Receivables | 90.98M | 67.31M | 67.31M | 61.25M | 88.03M | 98.68M |
| Inventory | 65.27M | 50.25M | 51.71M | 43.82M | 109.80M | 62.12M |
| Other Current Assets | 29.61M | 12.30M | 11.41M | 9.19M | 13.26M | 12.84M |
| Total Current Assets | 185.90M | 129.91M | 130.48M | 114.31M | 211.13M | 173.69M |
| Property, Plant & Equipment | 344.16M | 359.16M | 372.59M | 366.15M | 354.25M | 367.33M |
| Long-Term Investments | 6.87M | 6.20M | 7.31M | |||
| Goodwill | 16.67M | 16.67M | 16.67M | 16.67M | 16.67M | 16.82M |
| Other Intangible Assets | 1.00K | 26.00K | 55.00K | 154.00K | 358.00K | |
| Long-Term Deferred Tax Assets | 8.77M | 9.03M | 9.95M | 10.20M | 14.39M | 19.82M |
| Long-Term Deferred Charges | 254.00K | 701.00K | 1.11M | 687.00K | ||
| Other Long-Term Assets | 1.93M | 1.45M | 1.23M | 1.28M | 1.15M | 1.15M |
| Total Assets | 564.30M | 522.42M | 538.51M | 509.38M | 598.85M | 579.86M |
| Accounts Payable | 96.51M | 68.95M | 63.87M | 55.04M | 75.20M | 68.94M |
| Accrued Expenses | 15.83M | 28.95M | 27.17M | 26.57M | 23.69M | 22.99M |
| Current Portion of Leases | 22.11M | 22.06M | 19.72M | 14.90M | 9.09M | 6.88M |
| Current Income Taxes Payable | 864.00K | 1.58M | 1.28M | 652.00K | 665.00K | 385.00K |
| Other Current Liabilities | 2.09M | 2.60M | 3.46M | 3.39M | 2.28M | 4.90M |
| Total Current Liabilities | 137.41M | 124.14M | 115.50M | 100.56M | 110.92M | 104.09M |
| Long-Term Debt | 476.59M | 428.01M | 437.63M | 421.17M | 512.87M | 498.87M |
| Long-Term Leases | 36.81M | 48.39M | 47.87M | 45.68M | 26.27M | 15.71M |
| Other Long-Term Liabilities | 8.00M | 7.67M | 7.94M | 6.58M | 8.23M | 9.23M |
| Total Liabilities | 658.81M | 608.21M | 608.95M | 574.00M | 658.30M | 627.90M |
| Common Stock | -95.46M | -86.92M | -71.88M | -66.18M | -61.11M | -50.74M |
| Comprehensive Income & Other | 816.00K | |||||
| Total Common Equity | -95.46M | -86.92M | -71.88M | -66.18M | -61.11M | -49.92M |
| Minority Interest | 950.00K | 1.13M | 1.44M | 1.56M | 1.67M | 1.89M |
| Shareholders' Equity | -94.51M | -85.80M | -70.44M | -64.62M | -59.45M | -48.04M |
| Total Liabilities & Equity | 564.30M | 522.42M | 538.51M | 509.38M | 598.85M | 579.86M |
| Total Debt | 535.50M | 498.46M | 505.23M | 481.76M | 548.23M | 521.46M |
| Net Cash (Debt) | -535.46M | -498.41M | -505.17M | -481.70M | -548.19M | -521.41M |
| Net Cash Per Share | -13.75 | -12.82 | -13.01 | -12.42 | -14.16 | -13.48 |
| Filing Date Shares Outstanding | 39.12M | 39.06M | 39.00M | 39.00M | 38.91M | 38.84M |
| Total Common Shares Outstanding | 39.12M | 39.06M | 39.00M | 38.91M | 38.85M | 38.80M |
| Working Capital | 48.50M | 5.76M | 14.98M | 13.75M | 100.20M | 69.60M |
| Book Value Per Share | -2.44 | -2.23 | -1.84 | -1.70 | -1.57 | -1.29 |
| Tangible Book Value | -112.13M | -103.59M | -88.57M | -82.91M | -77.94M | -67.11M |
| Tangible Book Value Per Share | -2.87 | -2.65 | -2.27 | -2.13 | -2.01 | -1.73 |
| Land | 18.81M | 18.81M | 18.82M | 21.65M | 21.42M | |
| Machinery | 801.37M | 773.41M | 747.35M | 733.61M | 730.52M | |
| Construction In Progress | 8.54M | 25.22M | 19.18M | 16.75M | 14.76M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -10.93M | -14.45M | -5.10M | -4.46M | -10.13M | -207.00K |
| Depreciation & Amortization | 51.46M | 50.20M | 50.79M | 49.90M | 56.28M | 56.75M |
| Other Amortization | 5.56M | 5.68M | 5.49M | 6.18M | 3.15M | 3.37M |
| Loss (Gain) From Sale of Assets | -5.50M | -2.04M | -1.58M | -1.37M | -5.67M | 534.00K |
| Loss (Gain) on Equity Investments | 1.09M | 1.12M | 624.00K | |||
| Stock-Based Compensation | 173.00K | 186.00K | 187.00K | 163.00K | 161.00K | 384.00K |
| Other Operating Activities | 263.00K | 625.00K | 150.00K | 9.22M | 4.72M | 2.84M |
| Change in Accounts Receivable | -21.13M | -4.80M | -276.00K | 26.35M | 4.58M | -31.45M |
| Change in Inventory | -18.40M | 1.46M | -8.08M | 65.98M | -47.68M | -8.33M |
| Change in Accounts Payable | 22.23M | -3.27M | 10.23M | -17.54M | 486.00K | 14.33M |
| Change in Income Taxes | -413.00K | 297.00K | 631.00K | -13.00K | 280.00K | -171.00K |
| Change in Other Net Operating Assets | -8.42M | 11.13M | -4.70M | 3.08M | 9.96M | -2.32M |
| Operating Cash Flow | 15.99M | 46.13M | 48.35M | 137.47M | 16.15M | 35.73M |
| Capital Expenditures | -34.65M | -24.77M | -42.01M | -34.32M | -27.24M | -16.06M |
| Sale of Property, Plant & Equipment | 6.14M | 2.12M | 1.24M | 5.48M | 7.77M | 927.00K |
| Investment in Securities | -1.45M | -6.94M | ||||
| Other Investing Activities | -14.96M | -7.37M | -10.90M | -4.83M | -5.18M | -4.11M |
| Investing Cash Flow | -44.91M | -30.01M | -58.60M | -33.66M | -24.64M | -19.24M |
| Long-Term Debt Issued | 221.00M | 255.58M | 543.49M | 404.65M | 316.50M | |
| Long-Term Debt Repaid | -235.51M | -244.51M | -632.21M | -394.02M | -336.50M | |
| Net Debt Issued (Repaid) | 29.98M | -14.51M | 11.07M | -88.72M | 10.63M | -20.00M |
| Repurchase of Common Stock | -17.00K | |||||
| Common Dividends Paid | -781.00K | -781.00K | -779.00K | -777.00K | -777.00K | -775.00K |
| Other Financing Activities | -280.00K | -824.00K | -39.00K | -14.30M | -1.36M | -605.00K |
| Financing Cash Flow | 28.92M | -16.12M | 10.25M | -103.80M | 8.49M | -21.39M |
| Net Cash Flow | -1.00K | -6.00K | 1.00K | 9.00K | -7.00K | -4.91M |
| Free Cash Flow | -18.66M | 21.36M | 6.34M | 103.15M | -11.09M | 19.67M |
| Free Cash Flow Margin | -2.31% | 2.98% | 0.90% | 12.93% | -1.09% | 2.23% |
| Free Cash Flow Per Share | -0.48 | 0.55 | 0.16 | 2.66 | -0.29 | 0.51 |
| Levered Free Cash Flow | -14.20M | 33.51M | 10.23M | 105.56M | 118.10M | 146.42M |
| Unlevered Free Cash Flow | 16.23M | 63.95M | 40.81M | 137.06M | 148.49M | 176.87M |
| Cash Interest Paid | 52.45M | 52.31M | 53.45M | 51.61M | 50.52M | 51.71M |
| Cash Income Tax Paid | 2.25M | 1.23M | ||||
| Change in Working Capital | -26.13M | 4.81M | -2.19M | 77.85M | -32.37M | -27.94M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 79.05M | 101.93M | 140.01M | 93.40M | 116.55M | 103.22M |
| Enterprise Value | 614.51M | 611.98M | 672.68M | 593.11M | 695.64M | 667.25M |
| Last Close Price | 1.98 | 2.60 | 3.55 | 2.35 | 2.92 | 2.58 |
| Forward PE | 25.68 | 25.19 | 109.20 | 109.20 | 14.00 | |
| PS Ratio | 0.10 | 0.14 | 0.20 | 0.12 | 0.11 | 0.12 |
| PB Ratio | -1.19 | -1.99 | -1.45 | -1.96 | -2.15 | |
| P/FCF Ratio | 4.77 | 22.07 | 0.91 | 5.25 | ||
| P/OCF Ratio | 4.94 | 2.21 | 2.90 | 0.68 | 7.22 | 2.89 |
| PEG Ratio | 3.98 | 3.98 | 3.98 | 3.98 | 3.98 | |
| EV/Sales Ratio | 0.76 | 0.85 | 0.95 | 0.74 | 0.68 | 0.76 |
| EV/EBITDA Ratio | 6.46 | 6.30 | 6.32 | 5.15 | 2.36 | 2.12 |
| EV/EBIT Ratio | 14.07 | 13.06 | 12.07 | 9.08 | 2.92 | 2.58 |
| EV/FCF Ratio | 28.65 | 106.05 | 5.75 | 33.92 | ||
| Debt / Equity Ratio | -5.67 | -5.81 | -7.17 | -7.46 | -9.22 | -10.86 |
| Debt / EBITDA Ratio | 4.09 | 3.85 | 3.78 | 3.52 | 1.73 | 1.56 |
| Debt / FCF Ratio | 23.34 | 79.65 | 4.67 | 26.51 | ||
| Net Debt / Equity Ratio | -5.67 | -5.81 | -7.17 | -7.45 | -9.22 | -10.85 |
| Net Debt / EBITDA Ratio | 5.63 | 5.13 | 4.74 | 4.18 | 1.86 | 1.66 |
| Net Debt / FCF Ratio | -28.70 | 23.34 | 79.64 | 4.67 | -49.44 | 26.51 |
| Asset Turnover | 1.50 | 1.35 | 1.35 | 1.44 | 1.73 | 1.52 |
| Inventory Turnover | 11.96 | 11.32 | 11.57 | 8.36 | 7.94 | 9.13 |
| Quick Ratio | 0.66 | 0.54 | 0.58 | 0.61 | 0.79 | 0.95 |
| Current Ratio | 1.35 | 1.05 | 1.13 | 1.14 | 1.90 | 1.67 |
| Return on Assets (ROA) | 5.08% | 5.52% | 6.65% | 7.37% | 25.28% | 27.86% |
| Return on Invested Capital (ROIC) | 10.40% | 11.41% | 13.40% | -48.43% | 49.47% | -3.68% |
| Return on Capital Employed (ROCE) | 10.20% | 11.80% | 13.20% | 16.00% | 48.90% | 54.30% |
| Earnings Yield | -14.14% | -14.18% | -3.65% | -4.77% | -8.69% | -0.20% |
| FCF Yield | -23.60% | 20.95% | 4.53% | 110.44% | -9.51% | 19.06% |
| Dividend Yield | 1.01% | 0.77% | 0.56% | 0.83% | 0.67% | 0.75% |
| Buyback Yield / Dilution | -0.16% | -0.15% | -0.15% | -0.12% | -0.10% | -0.08% |
| Total Shareholder Return | 0.85% | 0.61% | 0.40% | 0.71% | 0.57% | 0.67% |