NYSE : KNOP
KNOT Offshore Partners LP — Financial statements
Energy · Oil & Gas Midstream · United Kingdom
Last price 9.75 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 336.89M
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Financial statements
KNOT Offshore Partners LP (KNOP) reported revenue of 375.78M 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 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 373.58M | 361.65M | 310.54M | 285.93M | 267.49M | 269.31M |
| Other Revenue | 2.20M | 2.19M | 2.09M | 1.94M | 341.00K | 373.00K |
| Revenue | 375.78M | 363.84M | 312.63M | 287.88M | 267.83M | 269.68M |
| Cost of Revenue | 138.84M | 133.78M | 112.12M | 98.89M | 88.85M | 72.11M |
| Gross Profit | 236.94M | 230.06M | 200.51M | 188.99M | 178.98M | 197.56M |
| Selling, General & Admin | 8.25M | 7.40M | 6.07M | 6.14M | 6.10M | 6.46M |
| Operating Expenses | 153.75M | 127.10M | 117.88M | 117.04M | 113.52M | 106.02M |
| Operating Income | 83.19M | 102.96M | 82.63M | 71.94M | 65.46M | 91.55M |
| Interest Expense | -55.97M | -62.95M | -60.55M | -66.62M | -6.59M | -58.63M |
| Interest & Investment Income | 3.66M | 3.57M | 3.64M | 3.47M | 822.00K | 2.00K |
| Currency Exchange Gain (Loss) | -345.00K | -89.00K | -943.00K | -237.00K | 220.00K | -96.00K |
| Other Non Operating Income (Expenses) | -835.00K | -755.00K | -358.00K | -668.00K | -1.13M | 39.51M |
| EBT Excluding Unusual Items | 29.70M | 42.73M | 24.41M | 7.89M | 58.78M | 72.33M |
| Gain (Loss) on Sale of Assets | 1.34M | 703.00K | ||||
| Asset Writedown | -20.26M | -20.26M | -16.38M | -49.65M | -29.42M | |
| Pretax Income | 15.80M | 24.42M | 14.70M | -38.92M | 59.54M | 54.36M |
| Income Tax Expense | 894.00K | 1.16M | 631.00K | -4.59M | 875.00K | 488.00K |
| Net Income | 14.91M | 23.26M | 14.06M | -34.33M | 58.67M | 53.88M |
| Preferred Dividends & Other Adjustments | 6.80M | 6.80M | 6.80M | 6.80M | 6.80M | 6.90M |
| Net Income to Common | 8.11M | 16.46M | 7.26M | -41.13M | 51.87M | 46.98M |
| Shares Outstanding (Basic) | 34.62M | 34.81M | 34.94M | 34.94M | 34.94M | 33.87M |
| Shares Outstanding (Diluted) | 38.85M | 39.06M | 39.29M | 39.32M | 38.98M | 37.88M |
| EPS (Basic) | 0.23 | 0.47 | 0.21 | -1.18 | 1.48 | 1.39 |
| EPS (Diluted) | 0.21 | 0.42 | 0.18 | -1.18 | 1.33 | 1.24 |
| Free Cash Flow | 153.76M | 155.46M | 136.20M | 128.86M | 97.63M | 154.88M |
| Free Cash Flow Per Share | 3.96 | 3.98 | 3.47 | 3.28 | 2.50 | 4.09 |
| Dividend Per Share | 0.18 | 0.10 | 0.10 | 0.10 | 1.59 | 2.08 |
| Gross Margin | 63.05% | 63.23% | 64.14% | 65.65% | 66.83% | 73.26% |
| Operating Margin | 22.14% | 28.30% | 26.43% | 24.99% | 24.44% | 33.95% |
| Profit Margin | 2.16% | 4.52% | 2.32% | -14.29% | 19.37% | 17.42% |
| Free Cash Flow Margin | 40.92% | 42.73% | 43.57% | 44.76% | 36.45% | 57.43% |
| EBITDA | 196.96M | 201.06M | 179.54M | 182.20M | 171.44M | 190.19M |
| EBITDA Margin | 52.41% | 55.26% | 57.43% | 63.29% | 64.01% | 70.53% |
| D&A For EBITDA | 113.77M | 98.11M | 96.92M | 110.25M | 105.98M | 98.65M |
| EBIT | 83.19M | 102.96M | 82.63M | 71.94M | 65.46M | 91.55M |
| EBIT Margin | 22.14% | 28.30% | 26.43% | 24.99% | 24.44% | 33.95% |
| Effective Tax Rate | 5.66% | 4.76% | 4.29% | 1.47% | 0.90% | |
| Revenue as Reported | 382.14M | 364.44M | 318.60M | 290.72M | 268.58M | 281.13M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 95.25M | 88.98M | 66.93M | 63.92M | 47.58M | 62.29M |
| Trading Asset Securities | 2.13M | 2.28M | 8.11M | |||
| Cash & Short-Term Investments | 97.39M | 91.26M | 75.05M | 63.92M | 47.58M | 62.29M |
| Accounts Receivable | 9.07M | 4.40M | 9.29M | 5.23M | 11.06M | 2.67M |
| Other Receivables | 5.88M | 3.36M | 6.23M | 2.35M | 5.15M | 4.47M |
| Receivables | 14.96M | 7.76M | 15.52M | 7.58M | 16.21M | 7.14M |
| Inventory | 4.59M | 4.29M | 3.30M | 3.70M | 5.76M | 3.31M |
| Prepaid Expenses | 1.95M | 1.54M | 1.50M | 1.57M | 1.31M | 1.16M |
| Other Current Assets | 6.04M | 6.60M | 15.07M | |||
| Total Current Assets | 124.92M | 111.44M | 95.37M | 89.78M | 85.93M | 73.89M |
| Property, Plant & Equipment | 1.49B | 1.56B | 1.46B | 1.50B | 1.63B | 1.60B |
| Long-Term Investments | 2.25M | 1.91M | 5.19M | 7.23M | 14.38M | 1.01M |
| Other Intangible Assets | 75.00K | |||||
| Long-Term Deferred Tax Assets | 2.29M | 2.66M | 3.33M | 4.36M | ||
| Other Long-Term Assets | 20.76M | 10.93M | 4.82M | 1.45M | ||
| Total Assets | 1.64B | 1.68B | 1.57B | 1.60B | 1.73B | 1.68B |
| Accounts Payable | 8.73M | 9.61M | 5.77M | 10.24M | 4.27M | 3.87M |
| Accrued Expenses | 26.60M | 18.43M | 11.46M | 14.78M | 10.65M | 6.43M |
| Current Portion of Long-Term Debt | 303.45M | 361.12M | 256.66M | 98.96M | 369.79M | 95.33M |
| Current Portion of Leases | 10.78M | 20.66M | 1.17M | 982.00K | 715.00K | 648.00K |
| Current Income Taxes Payable | 43.00K | 46.00K | 60.00K | 44.00K | 699.00K | 548.00K |
| Current Unearned Revenue | 14.72M | 14.67M | 10.16M | 467.00K | 2.15M | 7.70M |
| Other Current Liabilities | 2.78M | 2.39M | 1.83M | 2.11M | 1.72M | 1.42M |
| Total Current Liabilities | 367.11M | 426.93M | 287.12M | 127.58M | 389.99M | 115.96M |
| Long-Term Debt | 588.85M | 574.88M | 648.08M | 857.83M | 686.60M | 882.81M |
| Long-Term Leases | 256.00K | 469.00K | 97.00K | 1.14M | 1.55M | 2.09M |
| Long-Term Unearned Revenue | 56.76M | 61.50M | 25.64M | 2.34M | 3.18M | 3.18M |
| Long-Term Deferred Tax Liabilities | 83.00K | 82.00K | 91.00K | 127.00K | 424.00K | 228.00K |
| Other Long-Term Liabilities | 5.52M | |||||
| Total Liabilities | 1.02B | 1.06B | 961.03M | 989.01M | 1.08B | 1.00B |
| Common Stock | 536.70M | 536.66M | 526.83M | 523.17M | 567.90M | 588.71M |
| Total Common Equity | 536.70M | 536.66M | 526.83M | 523.17M | 567.90M | 588.71M |
| Shareholders' Equity | 621.00M | 620.97M | 611.13M | 607.48M | 652.21M | 673.01M |
| Total Liabilities & Equity | 1.64B | 1.68B | 1.57B | 1.60B | 1.73B | 1.68B |
| Total Debt | 903.35M | 957.13M | 906.00M | 958.91M | 1.06B | 980.88M |
| Net Cash (Debt) | -805.96M | -865.87M | -830.96M | -894.99M | -1.01B | -918.59M |
| Net Cash Per Share | -20.74 | -22.17 | -21.15 | -22.76 | -25.94 | -24.25 |
| Filing Date Shares Outstanding | 34.55M | 34.55M | 34.94M | 34.94M | 34.94M | 34.94M |
| Total Common Shares Outstanding | 34.55M | 34.55M | 34.94M | 34.94M | 34.94M | 34.94M |
| Working Capital | -242.19M | -315.48M | -191.75M | -37.80M | -304.06M | -42.06M |
| Book Value Per Share | 15.53 | 15.53 | 15.08 | 14.97 | 16.25 | 16.85 |
| Tangible Book Value | 536.70M | 536.66M | 526.83M | 523.17M | 567.90M | 588.63M |
| Tangible Book Value Per Share | 15.53 | 15.53 | 15.08 | 14.97 | 16.25 | 16.85 |
| Machinery | 2.52B | 2.52B | 2.36B | 2.32B | 2.36B | 2.24B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 14.91M | 23.26M | 14.06M | -34.33M | 58.67M | 53.88M |
| Depreciation & Amortization | 113.77M | 98.11M | 96.92M | 110.25M | 105.98M | 98.65M |
| Other Amortization | 25.08M | 17.23M | 16.16M | 2.50M | 2.69M | 3.52M |
| Loss (Gain) From Sale of Assets | -1.34M | -703.00K | ||||
| Asset Writedown & Restructuring Costs | 20.26M | 20.26M | 16.38M | 49.65M | 29.42M | |
| Other Operating Activities | -15.48M | -4.30M | 9.07M | -15.84M | -55.60M | -23.87M |
| Change in Inventory | -649.00K | -1.07M | 583.00K | 2.14M | -2.16M | -653.00K |
| Change in Accounts Payable | 2.61M | 4.26M | -4.38M | 5.87M | 251.00K | 18.00K |
| Change in Unearned Revenue | 3.62M | -1.63M | 6.81M | -1.50M | -4.68M | 763.00K |
| Change in Other Net Operating Assets | -9.71M | 949.00K | -17.75M | 12.90M | -4.20M | 4.69M |
| Operating Cash Flow | 154.40M | 155.74M | 137.15M | 131.64M | 100.94M | 166.41M |
| Capital Expenditures | -637.00K | -281.00K | -945.00K | -2.78M | -3.31M | -11.54M |
| Cash Acquisitions | -26.05M | -26.05M | -32.20M | |||
| Other Investing Activities | 1.04M | 607.00K | ||||
| Investing Cash Flow | -26.69M | -25.29M | -338.00K | -2.78M | -35.51M | -11.54M |
| Long-Term Debt Issued | 117.00M | 60.00M | 250.00M | 167.00M | 444.30M | |
| Long-Term Debt Repaid | -210.89M | -182.39M | -349.64M | -166.61M | -505.82M | |
| Net Debt Issued (Repaid) | -83.15M | -93.89M | -122.39M | -99.64M | 391.00K | -61.52M |
| Issuance of Common Stock | 976.00K | |||||
| Repurchase of Common Stock | -3.02M | -3.02M | ||||
| Preferred Dividends Paid | -6.80M | -6.80M | -6.80M | -6.80M | -6.80M | -7.00M |
| Common Dividends Paid | -4.40M | -3.60M | -3.61M | -3.61M | -72.67M | -72.39M |
| Dividends Paid | -11.20M | -10.40M | -10.41M | -10.41M | -79.47M | -79.39M |
| Other Financing Activities | -1.33M | -1.32M | -521.00K | -2.46M | -889.00K | -5.21M |
| Financing Cash Flow | -98.71M | -108.63M | -133.32M | -112.51M | -79.97M | -145.15M |
| Foreign Exchange Rate Adjustments | -72.00K | 234.00K | -475.00K | -10.00K | -174.00K | -18.00K |
| Net Cash Flow | 28.93M | 22.05M | 3.01M | 16.34M | -14.71M | 9.71M |
| Free Cash Flow | 153.76M | 155.46M | 136.20M | 128.86M | 97.63M | 154.88M |
| Free Cash Flow Margin | 40.92% | 42.73% | 43.57% | 44.76% | 36.45% | 57.43% |
| Free Cash Flow Per Share | 3.96 | 3.98 | 3.47 | 3.28 | 2.50 | 4.09 |
| Levered Free Cash Flow | 164.71M | 156.06M | 133.11M | 133.94M | 114.91M | 115.07M |
| Unlevered Free Cash Flow | 197.32M | 193.01M | 168.74M | 173.08M | 116.34M | 148.20M |
| Cash Interest Paid | 57.90M | 60.40M | 65.70M | 69.30M | 37.30M | 25.10M |
| Cash Income Tax Paid | 103.00K | 127.00K | 41.00K | 665.00K | 422.00K | 83.00K |
| Change in Working Capital | -4.13M | 2.52M | -14.74M | 19.40M | -10.79M | 4.82M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 306.14M | 361.61M | 190.41M | 201.24M | 336.45M | 466.21M |
| Enterprise Value | 1.11B | 1.35B | 1.15B | 1.21B | 1.43B | 1.50B |
| Last Close Price | 9.75 | 10.10 | 5.24 | 5.44 | 8.92 | 10.91 |
| PE Ratio | 42.47 | 21.97 | 26.21 | 6.49 | 9.92 | |
| Forward PE | 12.18 | 6.46 | 21.37 | 33.88 | 10.76 | 7.23 |
| PS Ratio | 0.82 | 0.99 | 0.61 | 0.70 | 1.26 | 1.73 |
| PB Ratio | 0.63 | 0.58 | 0.31 | 0.33 | 0.52 | 0.69 |
| P/TBV Ratio | 0.57 | 0.67 | 0.36 | 0.39 | 0.59 | 0.79 |
| P/FCF Ratio | 2.00 | 2.33 | 1.40 | 1.56 | 3.45 | 3.01 |
| P/OCF Ratio | 1.99 | 2.32 | 1.39 | 1.53 | 3.33 | 2.80 |
| PEG Ratio | 34.64 | 34.64 | 34.64 | 34.64 | 34.64 | |
| EV/Sales Ratio | 2.96 | 3.72 | 3.68 | 4.21 | 5.35 | 5.55 |
| EV/EBITDA Ratio | 5.65 | 6.73 | 6.41 | 6.65 | 8.36 | 7.87 |
| EV/EBIT Ratio | 13.39 | 13.13 | 13.93 | 16.84 | 21.90 | 16.34 |
| EV/FCF Ratio | 7.24 | 8.70 | 8.45 | 9.40 | 14.68 | 9.66 |
| Debt / Equity Ratio | 1.46 | 1.54 | 1.48 | 1.58 | 1.62 | 1.46 |
| Debt / EBITDA Ratio | 4.58 | 4.76 | 5.05 | 5.26 | 6.18 | 5.14 |
| Debt / FCF Ratio | 5.88 | 6.16 | 6.65 | 7.44 | 10.84 | 6.33 |
| Net Debt / Equity Ratio | 1.30 | 1.39 | 1.36 | 1.47 | 1.55 | 1.36 |
| Net Debt / EBITDA Ratio | 4.09 | 4.31 | 4.63 | 4.91 | 5.90 | 4.83 |
| Net Debt / FCF Ratio | 5.24 | 5.57 | 6.10 | 6.95 | 10.36 | 5.93 |
| Asset Turnover | 0.23 | 0.22 | 0.20 | 0.17 | 0.16 | 0.16 |
| Inventory Turnover | 33.92 | 35.24 | 32.03 | 20.92 | 19.60 | 24.21 |
| Quick Ratio | 0.31 | 0.23 | 0.32 | 0.56 | 0.16 | 0.60 |
| Current Ratio | 0.34 | 0.26 | 0.33 | 0.70 | 0.22 | 0.64 |
| Return on Equity (ROE) | 2.40% | 3.77% | 2.31% | -5.45% | 8.85% | 7.86% |
| Return on Assets (ROA) | 3.19% | 3.95% | 3.26% | 2.70% | 2.40% | 3.31% |
| Return on Invested Capital (ROIC) | 5.44% | 6.70% | 5.37% | 4.54% | 3.96% | 5.50% |
| Return on Capital Employed (ROCE) | 6.50% | 8.20% | 6.40% | 4.90% | 4.90% | 5.90% |
| Earnings Yield | 2.35% | 6.43% | 7.39% | -17.06% | 17.44% | 11.56% |
| FCF Yield | 50.00% | 42.99% | 71.53% | 64.03% | 29.02% | 33.22% |
| Dividend Yield | 4.52% | 0.99% | 1.91% | 1.81% | 16.47% | 15.59% |
| Payout Ratio | 120.31% | 44.72% | 73.99% | 135.46% | 147.35% | |
| Buyback Yield / Dilution | 6.22% | 0.59% | 0.08% | -0.89% | -2.89% | -13.73% |
| Total Shareholder Return | 10.66% | 1.58% | 1.99% | 0.92% | 13.58% | 1.86% |