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Martin Midstream Partners (MMLP) Financials

Martin Midstream Partners logo
$2.39 +0.12 (+5.29%)
Closing price 07/16/2026 04:00 PM Eastern
Extended Trading
$2.38 -0.02 (-0.63%)
As of 07:31 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Martin Midstream Partners

Annual Income Statements for Martin Midstream Partners

This table shows Martin Midstream Partners' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 38 32 20 44 -175 -6.77 -0.21 -10 -4.55 -5.21 -15
Consolidated Net Income / (Loss)		 38 32 20 56 -175 -6.77 -0.21 -10 -4.55 -5.21 -15
Net Income / (Loss) Continuing Operations		 37 27 -1.18 -7.83 4.52 -6.77 -0.21 -10 -4.55 -5.21 -15
Total Pre-Tax Income 		38 28 -1.03 -7.25 6.42 -5.04 3.17 -2.41 1.37 -1.01 -9.97
Total Operating Income		 70 73 46 45 58 47 57 51 67 57 49
Total Gross Profit		 395 349 379 361 354 315 349 396 408 411 397
Total Revenue		 1,037 827 973 1,020 847 672 882 1,019 798 708 716
Operating Revenue		 1,037 827 973 1,020 847 672 882 1,019 798 708 716
Total Cost of Revenue		 641 478 595 659 493 357 533 623 390 297 319
Operating Cost of Revenue		 641 478 595 659 493 357 533 623 390 297 319
Total Operating Expenses		 325 276 333 316 296 269 292 344 342 353 349
Selling, General & Admin Expense		 37 34 268 255 251 225 235 294 293 304 300
Depreciation Expense		 92 92 65 61 60 61 57 56 50 51 50
Other Operating Expenses / (Income)		 186 119 -2.10 -1.04 -15 -12 0.53 -5.67 -1.37 -1.58 -2.04
Total Other Income / (Expense), net		 -32 -45 -47 -52 -52 -52 -54 -54 -65 -58 -59
Interest Expense		 42 46 48 52 52 52 54 54 65 58 58
Interest & Investment Income		 8.99 - - - - - - 0.00 0.00 -0.62 -1.12
Other Income / (Expense), net		 1.12 1.11 1.13 0.04 0.01 0.01 -0.00 -0.01 0.06 0.03 0.03
Income Tax Expense		 1.05 0.73 0.16 0.58 1.90 1.74 3.38 7.93 5.92 4.20 4.77
Basic Earnings per Share		 - - - - - ($0.17) ($0.01) ($0.26) ($0.11) ($0.13) ($0.37)
Weighted Average Basic Shares Outstanding		 35.37M 35.38M 38.16M 38.92M 38.94M 38.66M 38.69M 38.73M 38.77M 38.83M 38.89M
Diluted Earnings per Share		 - - - - - ($0.17) ($0.01) ($0.26) ($0.11) ($0.13) ($0.37)
Weighted Average Diluted Shares Outstanding		 35.37M 35.38M 38.16M 38.92M 38.94M 38.66M 38.69M 38.73M 38.77M 38.83M 38.89M
Weighted Average Basic & Diluted Shares Outstanding		 35.37M 35.38M 38.16M 38.92M 38.94M 38.66M 38.69M 38.73M 38.77M 38.83M 38.89M

Quarterly Income Statements for Martin Midstream Partners

This table shows Martin Midstream Partners' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -1.06 0.53 3.27 3.78 -3.32 -8.97 -1.03 -2.41 -8.41 -2.89 -6.76
Consolidated Net Income / (Loss)		 -1.06 0.52 3.27 3.78 -3.32 -8.94 -1.03 -2.41 -8.41 -2.89 -6.76
Net Income / (Loss) Continuing Operations		 -1.06 0.52 3.27 3.78 -3.32 -8.94 -1.03 -2.41 -8.41 -2.89 -6.76
Total Pre-Tax Income 		-0.27 2.82 4.07 5.55 -2.25 -8.38 0.08 -0.32 -7.70 -2.04 -6.24
Total Operating Income		 15 17 18 20 13 6.82 14 15 6.89 13 8.02
Total Gross Profit		 101 104 103 108 100 100 103 102 93 99 98
Total Revenue		 177 181 181 185 171 171 193 181 169 174 188
Operating Revenue		 177 181 181 185 171 171 193 181 169 174 188
Total Cost of Revenue		 76 77 78 77 71 72 90 79 76 75 89
Operating Cost of Revenue		 76 77 78 77 71 72 90 79 76 75 89
Total Operating Expenses		 86 87 85 88 87 93 89 87 86 87 90
Selling, General & Admin Expense		 75 75 73 76 75 80 76 75 74 75 78
Depreciation Expense		 12 12 13 13 13 13 13 13 12 12 13
Other Special Charges / (Income)		 -0.81 - -0.21 -0.95 -0.16 - -0.48 -0.61 -0.40 - -0.33
Total Other Income / (Expense), net		 -15 -14 -14 -14 -15 -15 -14 -15 -15 -15 -14
Interest Expense		 15 14 14 14 15 15 14 15 15 14 14
Interest & Investment Income		 0.00 - 0.00 0.00 -0.31 - -0.21 -0.62 0.02 -0.31 -0.30
Other Income / (Expense), net		 0.02 0.01 0.02 0.00 0.00 0.01 -0.00 0.02 0.00 0.01 0.00
Income Tax Expense		 0.79 2.30 0.80 1.77 1.07 0.56 1.12 2.08 0.72 0.86 0.52
Basic Earnings per Share		 ($0.03) $0.02 $0.08 $0.09 ($0.08) ($0.22) ($0.03) ($0.06) ($0.21) ($0.07) ($0.17)
Weighted Average Basic Shares Outstanding		 38.77M 38.77M 38.83M 38.83M 38.83M 38.83M 38.88M 38.89M 38.89M 38.89M 38.95M
Diluted Earnings per Share		 ($0.03) $0.02 $0.08 $0.09 ($0.08) ($0.22) ($0.03) ($0.06) ($0.21) ($0.07) ($0.17)
Weighted Average Diluted Shares Outstanding		 38.77M 38.77M 38.84M 38.89M 38.83M 38.83M 38.88M 38.89M 38.89M 38.89M 38.95M
Weighted Average Basic & Diluted Shares Outstanding		 38.77M 38.77M 38.83M 38.83M 38.83M 38.83M 38.88M 38.89M 38.89M 38.89M 38.95M

Annual Cash Flow Statements for Martin Midstream Partners

This table details how cash moves in and out of Martin Midstream Partners' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -0.01 -0.02 0.01 0.21 2.56 2.10 -4.91 -0.01 0.01 0.00 -0.01
Net Cash From Operating Activities		 183 111 69 105 76 65 36 16 137 48 46
Net Cash From Continuing Operating Activities		 184 103 26 75 68 65 36 16 137 48 46
Net Income / (Loss) Continuing Operations		 37 27 -1.18 -7.83 4.52 -6.77 -0.21 -10 -4.55 -5.21 -15
Consolidated Net Income / (Loss)		 38 32 20 56 -175 -6.77 -0.21 -10 -4.55 -5.21 -15
Depreciation Expense		 92 92 65 61 60 61 57 56 50 51 50
Amortization Expense		 4.54 3.38 2.59 3.14 3.74 3.23 3.37 3.15 6.18 5.49 5.68
Non-Cash Adjustments To Reconcile Net Income		 22 -5.69 0.66 15 -24 -30 -3.23 -6.80 4.31 -0.40 -1.37
Changes in Operating Assets and Liabilities, net		 28 -13 -41 3.37 24 37 -21 -26 82 -2.31 6.36
Net Cash From Investing Activities		 -24 64 -42 148 175 2.60 -19 -25 -34 -59 -30
Net Cash From Continuing Investing Activities		 -65 64 -34 -26 -34 2.60 -19 -25 -34 -59 -30
Purchase of Property, Plant & Equipment		 -66 -40 -42 -35 -31 -29 -16 -27 -34 -42 -25
Acquisitions		 0.00 -2.15 -20 0.00 -24 - - 0.00 0.00 -6.94 0.00
Sale of Property, Plant & Equipment		 2.64 109 14 11 21 25 0.64 7.77 5.48 1.24 2.12
Other Investing Activities, net		 -1.91 -2.06 13 -1.89 -0.65 6.07 -3.83 -5.18 -4.83 -11 -7.37
Net Cash From Financing Activities		 -159 -175 -27 -252 -248 -65 -21 8.49 -104 10 -16
Net Cash From Continuing Financing Activities		 -159 -175 -27 -252 -248 -65 -21 8.49 -104 10 -16
Repayment of Debt		 -309 -392 -339 -561 -728 -337 -334 -394 -646 -245 -236
Payment of Dividends		 -133 -118 -77 -78 -49 -5.32 -0.79 -0.79 -0.79 -0.80 -0.80
Issuance of Debt		 282 332 341 399 638 282 317 405 543 256 221
Other Financing Activities, net		 2.31 4.13 -3.26 -12 -108 -4.56 -2.70 -1.56 -0.01 -0.01 -0.01

Quarterly Cash Flow Statements for Martin Midstream Partners

This table details how cash moves in and out of Martin Midstream Partners' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -0.00 - 0.00 0.00 0.00 -0.00 -0.00 -0.01 0.00 - 0.00
Net Cash From Operating Activities		 7.29 31 10 12 -16 42 -6.02 31 -1.21 22 -14
Net Cash From Continuing Operating Activities		 7.29 31 10 12 -16 42 -6.02 31 -1.21 22 -14
Net Income / (Loss) Continuing Operations		 -1.06 0.52 3.27 3.78 -3.32 -8.94 -1.03 -2.41 -8.41 -2.89 -6.76
Consolidated Net Income / (Loss)		 -1.06 0.52 3.27 3.78 -3.32 -8.94 -1.03 -2.41 -8.41 -2.89 -6.76
Depreciation Expense		 12 12 13 13 13 13 13 13 12 12 13
Amortization Expense		 1.37 1.37 1.37 1.37 1.37 1.37 1.38 1.38 1.58 1.35 1.53
Non-Cash Adjustments To Reconcile Net Income		 -0.31 -0.59 -0.33 -1.16 0.20 0.89 -0.45 0.42 -1.29 -0.04 0.71
Changes in Operating Assets and Liabilities, net		 -4.93 18 -6.85 -4.86 -27 36 -19 19 -5.42 12 -22
Net Cash From Investing Activities		 -9.07 -11 -17 -20 -13 -8.96 -6.22 -5.71 -10 -7.61 -15
Net Cash From Continuing Investing Activities		 -9.07 -11 -17 -20 -13 -8.96 -6.22 -5.71 -10 -7.61 -15
Purchase of Property, Plant & Equipment		 -8.27 -9.02 -12 -13 -9.86 -7.95 -5.88 -5.35 -6.68 -6.86 -7.49
Sale of Property, Plant & Equipment		 0.91 0.30 0.24 0.50 0.22 0.29 0.48 0.61 0.40 0.63 0.35
Other Investing Activities, net		 -1.71 -2.46 -5.96 -0.75 -2.89 -1.30 -0.82 -0.98 -4.20 -1.37 -7.79
Net Cash From Financing Activities		 1.77 -20 7.29 7.88 28 -33 12 -25 12 -15 29
Net Cash From Continuing Financing Activities		 1.77 -20 7.29 7.88 28 -33 12 -25 12 -15 29
Repayment of Debt		 -60 -53 -58 -56 -60 -72 -43 -79 -56 -59 -53
Payment of Dividends		 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20
Issuance of Debt		 62 33 65 64 89 39 55 54 68 44 82
Other Financing Activities, net		 - - 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00

Annual Balance Sheets for Martin Midstream Partners

This table presents Martin Midstream Partners' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,380 1,246 1,253 1,074 667 580 580 599 509 539 522
Total Current Assets		 168 194 243 208 181 136 174 211 114 130 130
Cash & Equivalents		 0.03 0.02 0.03 0.30 2.86 4.96 0.05 0.05 0.05 0.06 0.05
Note & Lease Receivable		 - - - - - - - 0.00 0.00 0.00 0.00
Accounts Receivable		 84 92 131 102 105 68 99 88 61 67 67
Inventories, net		 76 83 97 84 63 54 62 110 44 52 50
Other Current Assets		 7.44 3.50 4.90 12 11 8.99 13 14 9.22 11 12
Plant, Property, & Equipment, net		 983 846 832 448 417 380 345 319 306 305 289
Plant, Property & Equipment, gross		 1,388 1,224 1,253 886 885 889 899 904 919 954 971
Accumulated Depreciation		 405 379 421 439 468 509 553 584 613 649 682
Total Noncurrent Assets		 229 207 179 418 69 64 61 68 89 103 103
Long-Term Investments		 132 130 129 - - - - - 0.00 7.31 6.20
Goodwill		 24 17 17 18 18 17 17 17 17 17 17
Noncurrent Deferred & Refundable Income Taxes		 - - - 0.00 23 22 20 14 10 9.95 9.03
Other Noncurrent Operating Assets		 - - - 0.00 24 22 22 35 60 67 71
Total Liabilities & Shareholders' Equity		 1,380 1,246 1,253 1,074 667 580 580 599 509 539 522
Total Liabilities		 987 934 955 785 703 627 628 658 574 609 608
Total Current Liabilities		 119 118 134 112 107 119 104 111 101 116 124
Short-Term Debt		 - - - - 6.76 31 0.28 0.01 - 0.01 0.02
Accounts Payable		 81 70 93 64 65 52 70 68 52 62 58
Accrued Expenses		 19 27 26 24 29 34 30 33 41 47 51
Current Deferred & Payable Income Tax Liabilities		 0.99 0.87 0.51 0.45 0.47 0.56 0.39 0.67 0.65 1.28 1.58
Other Current Liabilities		 18 20 15 20 6.46 1.02 3.23 8.98 6.76 5.73 13
Total Noncurrent Liabilities		 867 817 821 673 596 507 524 547 473 493 484
Long-Term Debt		 865 808 813 656 570 485 499 513 421 438 428
Capital Lease Obligations		 - - - 6.27 0.72 - 0.01 - 0.00 0.06 0.04
Other Noncurrent Operating Liabilities		 2.42 8.68 8.22 10 26 23 25 35 52 56 56
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 394 312 298 288 -36 -47 -48 -59 -65 -70 -86
Total Preferred & Common Equity		 394 312 298 288 -36 -47 -48 -59 -65 -70 -86
Total Common Equity		 394 312 298 288 -36 -47 -48 -59 -65 -70 -86
Common Stock		 394 312 298 288 -36 -47 -49 -59 -65 -70 -86

Quarterly Balance Sheets for Martin Midstream Partners

This table presents Martin Midstream Partners' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 508 512 535 555 533 516 510 537
Total Current Assets		 112 116 125 149 130 122 117 149
Cash & Equivalents		 0.05 0.05 0.06 0.06 0.05 0.05 0.05 0.05
Note & Lease Receivable		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable		 63 64 73 94 74 66 59 84
Inventories, net		 42 41 42 43 44 46 47 50
Other Current Assets		 7.65 10 10 12 11 9.13 12 15
Plant, Property, & Equipment, net		 307 307 308 308 300 295 292 285
Plant, Property & Equipment, gross		 910 929 940 948 958 961 966 976
Accumulated Depreciation		 603 622 631 640 658 666 675 691
Total Noncurrent Assets		 89 90 102 98 104 99 101 103
Long-Term Investments		 - - 7.94 7.62 7.11 6.49 6.51 5.90
Goodwill		 17 17 17 17 17 17 17 17
Noncurrent Deferred & Refundable Income Taxes		 12 11 10 10 10 10 9.26 8.88
Other Noncurrent Operating Assets		 60 62 67 64 70 66 69 72
Total Liabilities & Shareholders' Equity		 508 512 535 555 533 516 510 537
Total Liabilities		 573 574 593 616 605 590 593 630
Total Current Liabilities		 81 93 99 95 96 108 98 118
Short-Term Debt		 0.00 - - - 0.01 0.02 0.01 0.02
Accounts Payable		 44 59 52 61 58 54 51 72
Accrued Expenses		 28 26 42 31 33 47 37 37
Current Deferred & Payable Income Tax Liabilities		 0.46 1.72 1.37 1.32 2.55 2.13 1.28 1.76
Other Current Liabilities		 8.92 6.26 3.28 1.40 2.99 4.64 8.48 7.16
Total Noncurrent Liabilities		 492 481 494 521 509 482 495 512
Long-Term Debt		 440 430 439 469 451 428 441 458
Capital Lease Obligations		 - - 0.06 0.06 0.05 - 0.04 0.04
Other Noncurrent Operating Liabilities		 52 51 55 52 57 54 54 53
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -65 -61 -58 -61 -72 -74 -83 -93
Total Preferred & Common Equity		 -65 -61 -58 -61 -72 -74 -83 -93
Total Common Equity		 -65 -61 -58 -61 -72 -74 -83 -93
Common Stock		 -65 -61 -58 -61 -72 -74 -83 -93

Annual Metrics And Ratios for Martin Midstream Partners

This table displays calculated financial ratios and metrics derived from Martin Midstream Partners' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -36.86% -20.20% 17.65% 4.80% -16.96% -20.66% 31.29% 15.46% -21.68% -11.32% 1.20%
EBITDA Growth		 15.48% 0.76% -32.42% -4.13% 11.11% -8.78% 5.57% -5.71% 10.99% -7.54% -7.73%
EBIT Growth		 2.74% 3.58% -36.68% -3.53% 28.86% -19.97% 23.15% -10.51% 30.28% -14.17% -14.64%
NOPAT Growth		 43.61% 3.80% -54.91% -1.23% 29.70% -20.43% -111.72% 1,040.89% -717.86% 118.09% -14.66%
Net Income Growth		 427.89% -17.53% -37.08% 179.45% -414.34% 96.13% 96.88% -4,797.63% 55.98% -14.46% -183.18%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 94.12% -2,500.00% 57.69% -18.18% -184.62%
Operating Cash Flow Growth		 57.96% -39.29% -37.68% 52.03% -27.82% -14.55% -44.85% -54.80% 751.30% -64.83% -4.60%
Free Cash Flow Firm Growth		 135.86% 57.63% -84.59% 1,224.23% -88.40% 102.27% -91.19% 257.83% -471.87% 129.42% 58.30%
Invested Capital Growth		 -6.08% -13.47% -0.24% -43.45% -2.14% -13.74% -2.84% 0.51% -21.37% 0.95% -6.63%
Revenue Q/Q Growth		 -10.58% -2.07% 10.96% -7.37% -1.16% -8.42% 13.63% -4.01% -7.24% -1.36% 0.40%
EBITDA Q/Q Growth		 -0.32% 11.45% -25.86% 7.91% 8.61% -4.48% 11.59% -8.16% 0.12% -7.90% 5.48%
EBIT Q/Q Growth		 0.88% 25.58% -22.03% -13.80% 18.98% -11.60% 31.98% -15.27% 0.94% -15.31% 13.72%
NOPAT Q/Q Growth		 2.20% 26.96% -42.95% -12.95% 19.68% 8.60% -112.55% 433.93% 60.80% 42.01% 13.71%
Net Income Q/Q Growth		 6.87% 53.57% 23.18% -25.50% 2.27% -378.07% 98.45% -1,327.32% 16.39% -222.49% 29.09%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 97.06% -1,400.00% 21.43% -218.18% 28.85%
Operating Cash Flow Q/Q Growth		 3.99% -15.59% -9.89% 21.98% -11.92% -6.58% 7.52% -48.54% -1.08% 28.64% -29.95%
Free Cash Flow Firm Q/Q Growth		 -17.37% 12.48% -62.03% 824.73% -87.88% 38.31% 103.47% -90.43% 72.65% 1,245.93% -25.84%
Invested Capital Q/Q Growth		 -3.18% -4.56% -1.48% -43.55% -6.24% -11.90% -45.52% -6.32% -4.88% -10.10% -4.56%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 38.14% 42.20% 38.91% 35.37% 41.83% 46.90% 39.59% 38.82% 51.17% 58.02% 55.51%
EBITDA Margin		 16.21% 20.47% 11.76% 10.76% 14.39% 16.54% 13.30% 10.86% 15.40% 16.05% 14.64%
Operating Margin		 6.77% 8.79% 4.69% 4.42% 6.86% 6.92% 6.49% 5.03% 8.36% 8.10% 6.83%
EBIT Margin		 6.87% 8.92% 4.80% 4.42% 6.86% 6.92% 6.49% 5.03% 8.37% 8.10% 6.83%
Profit (Net Income) Margin		 3.70% 3.83% 2.05% 5.46% -20.65% -1.01% -0.02% -1.01% -0.57% -0.74% -2.06%
Tax Burden Percent		 100.44% 114.15% -1,943.02% -767.23% -2,725.02% 134.48% -6.66% 429.33% -332.29% 515.54% 147.85%
Interest Burden Percent		 53.61% 37.56% -2.19% -16.09% 11.05% -10.83% 5.53% -4.70% 2.05% -1.76% -20.38%
Effective Tax Rate		 2.74% 2.62% 0.00% 0.00% 29.60% 0.00% 106.66% 0.00% 432.29% 0.00% 0.00%
Return on Invested Capital (ROIC)		 5.87% 6.74% 3.28% 4.14% 7.52% 6.49% -0.83% 7.93% -54.75% 11.20% 9.84%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.74% 1.13% 1.48% 9.30% -44.13% -0.75% -0.12% -1.20% -8.25% 0.55% -1.66%
Return on Net Nonoperating Assets (RNNOA)		 2.86% 2.23% 3.25% 14.83% -146.23% 9.81% 1.28% 11.29% 62.09% -3.49% 9.04%
Return on Equity (ROE)		 8.73% 8.97% 6.53% 18.97% -138.72% 16.30% 0.44% 19.23% 7.33% 7.71% 18.88%
Cash Return on Invested Capital (CROIC)		 12.14% 21.18% 3.52% 59.65% 9.68% 21.25% 2.05% 7.42% -30.82% 10.25% 16.70%
Operating Return on Assets (OROA)		 4.88% 5.62% 3.74% 3.88% 6.68% 7.46% 9.88% 8.70% 12.05% 10.94% 9.22%
Return on Assets (ROA)		 2.63% 2.41% 1.59% 4.78% -20.10% -1.09% -0.04% -1.75% -0.82% -0.99% -2.78%
Return on Common Equity (ROCE)		 8.73% 8.97% 6.53% 18.97% -138.72% 16.30% 0.44% 19.23% 7.33% 7.71% 18.88%
Return on Equity Simple (ROE_SIMPLE)		 9.74% 10.14% 6.68% 19.30% 483.33% 14.45% 0.44% 17.38% 0.00% 7.39% 0.00%
Net Operating Profit after Tax (NOPAT)		 68 71 32 32 41 33 -3.81 36 -222 40 34
NOPAT Margin		 6.58% 8.56% 3.28% 3.09% 4.83% 4.84% -0.43% 3.52% -27.79% 5.67% 4.78%
Net Nonoperating Expense Percent (NNEP)		 4.13% 5.61% 1.80% -5.15% 51.64% 7.24% -0.71% 9.13% -46.50% 10.64% 11.49%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 7.91% -62.18% 10.92% 10.00%
Cost of Revenue to Revenue		 61.86% 57.80% 61.09% 64.63% 58.17% 53.10% 60.41% 61.18% 48.83% 41.98% 44.49%
SG&A Expenses to Revenue		 3.55% 4.15% 27.52% 25.03% 29.60% 33.42% 26.63% 28.83% 36.72% 42.97% 41.95%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 31.37% 33.42% 34.22% 30.95% 34.97% 39.98% 33.10% 33.79% 42.80% 49.93% 48.68%
Earnings before Interest and Taxes (EBIT)		 71 74 47 45 58 47 57 51 67 57 49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 168 169 114 110 122 111 117 111 123 114 105
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.03 1.27 1.22 1.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 1.30 1.59 1.47 1.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.39 0.48 0.37 0.31 0.17 0.08 0.11 0.11 0.11 0.20 0.14
Price to Earnings (P/E)		 10.54 12.54 18.29 7.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 28.42% 26.17% 20.96% 24.76% 33.61% 9.67% 0.76% 0.68% 0.85% 0.56% 0.77%
Earnings Yield		 9.49% 7.97% 5.47% 14.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.01 1.10 1.08 1.78 1.34 1.22 1.33 1.38 1.44 1.58 1.56
Enterprise Value to Revenue (EV/Rev)		 1.10 1.30 1.08 0.96 0.85 0.84 0.68 0.62 0.64 0.80 0.73
Enterprise Value to EBITDA (EV/EBITDA)		 6.77 6.35 9.16 8.90 5.90 5.08 5.11 5.67 4.17 5.01 4.99
Enterprise Value to EBIT (EV/EBIT)		 15.95 14.57 22.42 21.66 12.38 12.15 10.48 12.24 7.68 9.94 10.69
Enterprise Value to NOPAT (EV/NOPAT)		 16.67 15.19 32.82 30.97 17.58 17.36 0.00 17.48 0.00 14.20 15.28
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.23 9.70 15.17 9.30 9.49 8.72 16.81 38.84 3.73 11.78 11.34
Enterprise Value to Free Cash Flow (EV/FCFF)		 8.05 4.83 30.57 2.15 13.66 5.31 64.01 18.69 0.00 15.51 9.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.20 2.59 2.72 2.30 -15.95 -11.01 -10.39 -8.63 -6.52 -6.21 -4.99
Long-Term Debt to Equity		 2.20 2.59 2.72 2.30 -15.76 -10.34 -10.39 -8.63 -6.52 -6.21 -4.99
Financial Leverage		 1.64 1.98 2.19 1.60 3.31 -13.07 -10.64 -9.42 -7.53 -6.30 -5.45
Leverage Ratio		 3.32 3.72 4.10 3.97 6.90 -15.01 -12.22 -10.97 -8.93 -7.76 -6.79
Compound Leverage Factor		 1.78 1.40 -0.09 -0.64 0.76 1.62 -0.68 0.52 -0.18 0.14 1.38
Debt to Total Capital		 68.71% 72.15% 73.15% 69.68% 106.69% 109.99% 110.65% 113.11% 118.12% 119.18% 125.07%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 1.25% 6.71% 0.06% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 68.71% 72.15% 73.15% 69.68% 105.44% 103.28% 110.59% 113.11% 118.12% 119.18% 125.06%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 31.29% 27.85% 26.85% 30.32% -6.69% -9.99% -10.65% -13.11% -18.12% -19.18% -25.07%
Debt to EBITDA		 5.15 4.77 7.10 6.04 4.74 4.64 4.25 4.63 3.43 3.85 4.08
Net Debt to EBITDA		 4.36 4.01 5.97 6.04 4.71 4.60 4.25 4.63 3.43 3.79 4.02
Long-Term Debt to EBITDA		 5.15 4.77 7.10 6.04 4.68 4.36 4.25 4.63 3.43 3.85 4.08
Debt to NOPAT		 12.68 11.41 25.45 21.01 14.11 15.85 -130.88 14.29 -1.90 10.91 12.51
Net Debt to NOPAT		 10.74 9.58 21.41 21.00 14.04 15.70 -130.87 14.29 -1.90 10.73 12.32
Long-Term Debt to NOPAT		 12.68 11.41 25.45 21.01 13.95 14.89 -130.81 14.29 -1.90 10.91 12.51
Altman Z-Score		 1.21 1.19 1.23 1.44 1.81 1.51 2.09 2.29 2.13 1.84 1.79
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.41 1.65 1.81 1.86 1.69 1.14 1.67 1.90 1.14 1.13 1.05
Quick Ratio		 0.71 0.78 0.97 0.92 1.01 0.61 0.95 0.79 0.61 0.58 0.54
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 141 223 34 454 53 106 9.38 34 -125 37 58
Operating Cash Flow to CapEx		 289.12% 0.00% 244.49% 441.82% 761.12% 1,868.08% 231.77% 82.95% 476.74% 118.61% 203.69%
Free Cash Flow to Firm to Interest Expense		 3.36 4.83 0.72 8.67 1.02 2.07 0.17 0.63 -1.91 0.64 1.01
Operating Cash Flow to Interest Expense		 4.34 2.40 1.45 2.01 1.47 1.26 0.66 0.30 2.10 0.84 0.80
Operating Cash Flow Less CapEx to Interest Expense		 2.84 3.88 0.85 1.55 1.27 1.19 0.38 -0.06 1.66 0.13 0.41
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.71 0.63 0.78 0.88 0.97 1.08 1.52 1.73 1.44 1.35 1.35
Accounts Receivable Turnover		 8.89 9.37 8.73 8.75 8.17 7.79 10.62 10.94 10.72 11.02 10.64
Inventory Turnover		 7.79 6.03 6.61 7.26 6.71 6.12 9.17 7.25 5.07 6.22 6.25
Fixed Asset Turnover		 1.05 0.90 1.16 1.59 1.96 1.69 2.43 3.07 2.55 2.32 2.41
Accounts Payable Turnover		 6.21 6.32 7.30 8.42 7.65 6.12 8.72 9.00 6.50 5.25 5.34
Days Sales Outstanding (DSO)		 41.04 38.94 41.81 41.73 44.68 46.87 34.37 33.36 34.05 33.14 34.30
Days Inventory Outstanding (DIO)		 46.83 60.49 55.20 50.25 54.37 59.65 39.79 50.34 71.95 58.69 58.40
Days Payable Outstanding (DPO)		 58.76 57.79 49.97 43.35 47.72 59.67 41.85 40.56 56.13 69.58 68.40
Cash Conversion Cycle (CCC)		 29.11 41.64 47.05 48.62 51.34 46.85 32.31 43.14 49.86 22.25 24.30
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,127 975 972 550 538 464 451 453 356 360 336
Invested Capital Turnover		 0.89 0.79 1.00 1.34 1.56 1.34 1.93 2.25 1.97 1.98 2.06
Increase / (Decrease) in Invested Capital		 -73 -152 -2.36 -423 -12 -74 -13 2.32 -97 3.39 -24
Enterprise Value (EV)		 1,137 1,076 1,048 977 719 565 600 627 513 570 523
Market Capitalization		 404 397 364 314 145 54 101 114 92 139 101
Book Value per Share		 $11.11 $8.80 $7.76 $7.39 ($0.93) ($1.21) ($1.24) ($1.53) ($1.66) ($1.81) ($2.20)
Tangible Book Value per Share		 $8.79 $7.05 $6.45 $6.82 ($1.48) ($1.71) ($1.73) ($2.02) ($2.14) ($2.27) ($2.66)
Total Capital		 1,259 1,120 1,111 951 541 469 451 453 357 367 342
Total Debt		 865 808 813 663 577 516 499 513 421 438 428
Total Long-Term Debt		 865 808 813 663 571 485 499 513 421 438 428
Net Debt		 733 679 684 662 574 511 499 513 421 430 422
Capital Expenditures (CapEx)		 63 -68 28 24 9.96 3.47 15 19 29 41 23
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 49 76 108 96 78 43 70 100 14 15 5.73
Debt-free Net Working Capital (DFNWC)		 49 76 108 96 81 48 70 100 14 15 5.78
Net Working Capital (NWC)		 49 76 108 96 74 16 70 100 14 15 5.77
Net Nonoperating Expense (NNE)		 30 39 12 -24 216 39 -3.60 46 -217 45 49
Net Nonoperating Obligations (NNO)		 733 663 674 262 574 511 499 513 421 430 422
Total Depreciation and Amortization (D&A)		 97 96 68 65 64 65 60 59 56 56 56
Debt-free, Cash-free Net Working Capital to Revenue		 4.69% 9.24% 11.12% 9.41% 9.21% 6.37% 7.91% 9.83% 1.72% 2.11% 0.80%
Debt-free Net Working Capital to Revenue		 4.69% 9.24% 11.12% 9.44% 9.54% 7.10% 7.92% 9.84% 1.72% 2.12% 0.81%
Net Working Capital to Revenue		 4.69% 9.24% 11.12% 9.44% 8.75% 2.42% 7.89% 9.83% 1.72% 2.12% 0.81%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($0.26) ($0.11) ($0.13) ($0.37)
Adjusted Weighted Average Basic Shares Outstanding		 35.45M 35.45M 38.43M 39.05M 38.94M 38.89M 38.84M 38.73M 38.77M 38.83M 38.89M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($0.26) ($0.11) ($0.13) ($0.37)
Adjusted Weighted Average Diluted Shares Outstanding		 35.45M 35.45M 38.43M 39.05M 38.94M 38.89M 38.84M 38.73M 38.77M 38.83M 38.89M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 35.45M 35.45M 38.43M 39.05M 38.94M 38.89M 38.84M 38.73M 38.77M 38.83M 38.89M
Normalized Net Operating Profit after Tax (NOPAT)		 79 101 33 32 41 29 40 36 47 40 34
Normalized NOPAT Margin		 7.58% 12.22% 3.44% 3.09% 4.83% 4.33% 4.53% 3.52% 5.85% 5.67% 4.78%
Pre Tax Income Margin		 3.69% 3.35% -0.11% -0.71% 0.76% -0.75% 0.36% -0.24% 0.17% -0.14% -1.39%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.70 1.60 0.98 0.86 1.12 0.90 1.06 0.96 1.02 0.99 0.85
NOPAT to Interest Expense		 1.62 1.54 0.67 0.60 0.79 0.63 -0.07 0.67 -3.39 0.70 0.59
EBIT Less CapEx to Interest Expense		 0.19 3.08 0.39 0.41 0.93 0.84 0.77 0.59 0.58 0.29 0.45
NOPAT Less CapEx to Interest Expense		 0.12 3.01 0.08 0.15 0.60 0.56 -0.36 0.31 -3.83 -0.01 0.20
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 347.36% 373.37% 386.31% 140.94% -28.06% -78.53% -374.88% -7.67% -17.43% -15.27% -5.41%
Augmented Payout Ratio		 348.90% 374.55% 386.33% 141.64% -28.29% -78.66% -382.94% -7.67% -17.43% -15.27% -5.41%

Quarterly Metrics And Ratios for Martin Midstream Partners

This table displays calculated financial ratios and metrics derived from Martin Midstream Partners' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 38,914,806.00 38,914,806.00 38,914,806.00 39,001,086.00 39,001,086.00 - - 39,055,086.00 39,055,086.00 - 39,055,086.00
DEI Adjusted Shares Outstanding		 38,914,806.00 38,914,806.00 38,914,806.00 39,001,086.00 39,001,086.00 - - 39,055,086.00 39,055,086.00 - 39,055,086.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.03 0.01 0.08 0.10 -0.09 - - -0.06 -0.22 - -0.17
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -22.94% -25.59% -26.05% -5.68% -3.26% -5.40% 6.48% -2.09% -1.30% 1.66% -2.53%
EBITDA Growth		 1,151.22% 0.50% -1.78% 8.78% -5.94% -31.65% -10.44% -14.92% -21.86% 25.86% -21.58%
EBIT Growth		 220.21% 3.77% 2.19% 14.93% -14.05% -60.29% -19.60% -25.23% -45.49% 86.49% -44.31%
NOPAT Growth		 220.09% 205.78% 17.47% 50.43% -13.96% 51.35% -1,330.42% -23.21% -45.51% 86.43% 103.17%
Net Income Growth		 96.22% 237.87% 164.35% 249.68% -212.82% -1,829.40% -131.56% -163.68% -153.45% 67.64% -554.40%
EPS Growth		 95.77% 300.00% 161.54% 200.00% -166.67% -1,200.00% -137.50% -166.67% -162.50% 68.18% -466.67%
Operating Cash Flow Growth		 116.13% -4.56% -79.48% -76.11% -316.06% 34.28% -159.54% 161.37% 92.30% -46.78% -128.89%
Free Cash Flow Firm Growth		 -64.39% 1,987.13% 20.48% -86.69% -113.95% -98.61% -421.42% 192.11% 418.60% 2,284.94% 110.20%
Invested Capital Growth		 -22.56% -21.37% -10.24% 0.25% 6.81% 0.95% 1.15% -7.09% -12.05% -6.63% -3.46%
Revenue Q/Q Growth		 -9.68% 2.49% -0.15% 2.05% -7.37% 0.23% 12.38% -6.16% -6.62% 3.24% 7.75%
EBITDA Q/Q Growth		 -9.38% 8.73% 3.70% 6.46% -21.64% -20.99% 35.87% 1.14% -28.04% 27.28% -15.34%
EBIT Q/Q Growth		 -15.10% 16.79% 4.18% 11.27% -36.51% -46.04% 110.93% 3.48% -53.71% 84.60% -37.01%
NOPAT Q/Q Growth		 14.12% -69.35% 356.20% -5.75% -34.73% -46.08% -3,808.81% 105.88% -53.68% 84.48% -36.95%
Net Income Q/Q Growth		 -198.15% 148.73% 533.08% 15.49% -187.80% -169.39% 88.45% -133.01% -249.48% 65.61% -133.67%
EPS Q/Q Growth		 -200.00% 166.67% 300.00% 12.50% -188.89% -175.00% 86.36% -100.00% -250.00% 66.67% -142.86%
Operating Cash Flow Q/Q Growth		 -85.27% 330.71% -67.81% 17.00% -233.18% 367.68% -114.27% 613.62% -103.92% 1,950.21% -161.39%
Free Cash Flow Firm Q/Q Growth		 25.81% -16.25% -43.60% -77.61% -231.85% 108.33% -13,162.83% 120.35% 43.81% -38.24% -43.58%
Invested Capital Q/Q Growth		 0.57% -4.88% 3.36% 1.39% 7.15% -10.10% 3.57% -6.87% 1.42% -4.56% 7.09%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 57.11% 57.58% 57.06% 58.38% 58.48% 58.21% 53.48% 56.55% 55.11% 57.06% 52.31%
EBITDA Margin		 16.02% 17.00% 17.66% 18.42% 15.58% 12.28% 14.85% 16.01% 12.33% 15.21% 11.95%
Operating Margin		 8.32% 9.49% 9.90% 10.80% 7.40% 3.98% 7.48% 8.24% 4.09% 7.30% 4.27%
EBIT Margin		 8.33% 9.49% 9.90% 10.80% 7.40% 3.98% 7.48% 8.25% 4.09% 7.31% 4.27%
Profit (Net Income) Margin		 -0.60% 0.29% 1.81% 2.05% -1.94% -5.22% -0.54% -1.33% -4.99% -1.66% -3.60%
Tax Burden Percent		 388.64% 18.36% 80.44% 68.08% 147.31% 106.72% -1,229.76% 745.20% 109.29% 142.02% 108.30%
Interest Burden Percent		 -1.85% 16.38% 22.72% 27.86% -17.81% -122.72% 0.58% -2.17% -111.60% -16.00% -77.83%
Effective Tax Rate		 0.00% 81.64% 19.56% 31.92% 0.00% 0.00% 1,329.76% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 11.67% 3.43% 15.01% 14.25% 9.59% 5.51% -178.54% 11.45% 5.42% 10.52% 5.81%
ROIC Less NNEP Spread (ROIC-NNEP)		 9.36% 2.87% 12.55% 11.99% 6.89% 2.28% -138.26% 8.44% 2.47% 7.75% 3.05%
Return on Net Nonoperating Assets (RNNOA)		 -74.08% -21.59% -90.03% -85.59% -49.16% -14.40% 908.09% -54.51% -15.37% -42.27% -16.64%
Return on Equity (ROE)		 -62.41% -18.16% -75.02% -71.34% -39.57% -8.90% 729.55% -43.06% -9.94% -31.76% -10.83%
Cash Return on Invested Capital (CROIC)		 -106.29% -30.82% 18.35% 9.75% 0.70% 10.25% 9.01% 16.82% 20.83% 16.70% 11.64%
Operating Return on Assets (OROA)		 12.62% 13.67% 13.79% 15.05% 9.99% 5.38% 10.29% 11.23% 5.48% 9.87% 5.68%
Return on Assets (ROA)		 -0.91% 0.41% 2.52% 2.85% -2.62% -7.05% -0.74% -1.81% -6.68% -2.24% -4.79%
Return on Common Equity (ROCE)		 -62.41% -18.16% -75.02% -71.34% -39.57% -8.90% 729.55% -43.06% -9.94% -31.76% -10.83%
Return on Equity Simple (ROE_SIMPLE)		 8.37% 0.00% -6.20% -11.25% 0.00% 0.00% 13.28% 21.16% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 10 3.16 14 14 8.86 4.78 -177 10 4.83 8.90 5.61
NOPAT Margin		 5.83% 1.74% 7.96% 7.35% 5.18% 2.79% -91.98% 5.77% 2.86% 5.11% 2.99%
Net Nonoperating Expense Percent (NNEP)		 2.31% 0.57% 2.46% 2.26% 2.70% 3.22% -40.28% 3.01% 2.95% 2.77% 2.76%
Return On Investment Capital (ROIC_SIMPLE)		 - 0.88% 3.91% 3.56% 2.17% 1.30% -46.62% 2.95% 1.35% 2.60% 1.53%
Cost of Revenue to Revenue		 42.89% 42.42% 42.94% 41.63% 41.52% 41.79% 46.52% 43.45% 44.89% 42.94% 47.69%
SG&A Expenses to Revenue		 42.33% 41.49% 40.28% 41.22% 43.79% 46.88% 39.59% 41.66% 43.94% 42.95% 41.36%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 48.79% 48.09% 47.16% 47.58% 51.08% 54.23% 46.00% 48.31% 51.02% 49.75% 48.04%
Earnings before Interest and Taxes (EBIT)		 15 17 18 20 13 6.83 14 15 6.90 13 8.02
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 28 31 32 34 27 21 29 29 21 26 22
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.12 0.11 0.13 0.17 0.20 0.20 0.19 0.16 0.17 0.14 0.15
Price to Earnings (P/E)		 0.00 0.00 25.84 19.16 33.05 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.72% 0.85% 0.79% 0.62% 0.55% 0.56% 0.56% 0.68% 0.65% 0.77% 0.72%
Earnings Yield		 0.00% 0.00% 3.87% 5.22% 3.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.46 1.44 1.44 1.49 1.51 1.58 1.57 1.54 1.57 1.56 1.56
Enterprise Value to Revenue (EV/Rev)		 0.64 0.64 0.72 0.77 0.84 0.80 0.81 0.75 0.78 0.73 0.79
Enterprise Value to EBITDA (EV/EBITDA)		 4.46 4.17 4.32 4.45 4.89 5.01 5.30 5.10 5.57 4.99 5.68
Enterprise Value to EBIT (EV/EBIT)		 8.26 7.68 7.87 7.98 8.90 9.94 10.86 10.99 12.87 10.69 13.16
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 17.97 14.92 21.34 14.20 15.52 15.71 18.40 15.28 18.82
Enterprise Value to Operating Cash Flow (EV/OCF)		 3.93 3.73 5.38 9.18 16.03 11.78 18.13 10.45 8.41 11.34 14.60
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 7.40 15.30 220.86 15.51 17.49 8.84 7.07 9.00 13.13
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -6.77 -6.52 -6.99 -7.59 -7.65 -6.21 -6.30 -5.77 -5.33 -4.99 -4.95
Long-Term Debt to Equity		 -6.77 -6.52 -6.99 -7.59 -7.65 -6.21 -6.30 -5.77 -5.33 -4.99 -4.95
Financial Leverage		 -7.91 -7.53 -7.17 -7.14 -7.14 -6.30 -6.57 -6.46 -6.22 -5.45 -5.46
Leverage Ratio		 -9.15 -8.93 -8.36 -8.53 -8.41 -7.76 -7.85 -7.96 -7.39 -6.79 -6.51
Compound Leverage Factor		 0.17 -1.46 -1.90 -2.38 1.50 9.52 -0.05 0.17 8.25 1.09 5.07
Debt to Total Capital		 117.33% 118.12% 116.69% 115.16% 115.04% 119.18% 118.86% 120.98% 123.07% 125.07% 125.34%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 117.33% 118.12% 116.69% 115.16% 115.04% 119.18% 118.85% 120.97% 123.07% 125.06% 125.34%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -17.33% -18.12% -16.69% -15.16% -15.04% -19.18% -18.86% -20.98% -23.07% -25.07% -25.34%
Debt to EBITDA		 3.58 3.43 3.52 3.52 3.81 3.85 4.10 4.07 4.44 4.08 4.65
Net Debt to EBITDA		 3.58 3.43 3.52 3.45 3.74 3.79 4.03 4.01 4.38 4.02 4.59
Long-Term Debt to EBITDA		 3.58 3.43 3.52 3.52 3.81 3.85 4.09 4.07 4.44 4.08 4.65
Debt to NOPAT		 -0.78 -1.90 14.61 11.78 16.62 10.91 11.99 12.54 14.66 12.51 15.41
Net Debt to NOPAT		 -0.78 -1.90 14.61 11.57 16.35 10.73 11.80 12.34 14.44 12.32 15.21
Long-Term Debt to NOPAT		 -0.78 -1.90 14.61 11.78 16.62 10.91 11.99 12.53 14.66 12.51 15.41
Altman Z-Score		 1.97 1.81 1.71 1.66 1.62 1.53 1.65 1.63 1.61 1.56 1.54
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.38 1.14 1.25 1.27 1.57 1.13 1.35 1.13 1.20 1.05 1.26
Quick Ratio		 0.77 0.61 0.69 0.74 0.99 0.58 0.77 0.62 0.60 0.54 0.71
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 119 100 56 13 -17 1.39 -181 37 53 33 18
Operating Cash Flow to CapEx		 99.04% 359.96% 88.40% 98.39% -163.26% 550.41% -111.55% 653.04% -19.32% 359.89% -192.90%
Free Cash Flow to Firm to Interest Expense		 7.97 6.96 4.08 0.88 -1.14 0.09 -12.86 2.53 3.63 2.27 1.32
Operating Cash Flow to Interest Expense		 0.49 2.18 0.73 0.82 -1.08 2.83 -0.43 2.12 -0.08 1.55 -0.99
Operating Cash Flow Less CapEx to Interest Expense		 0.00 1.58 -0.10 -0.01 -1.74 2.32 -0.81 1.79 -0.51 1.12 -1.50
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.51 1.44 1.39 1.39 1.35 1.35 1.38 1.36 1.34 1.35 1.33
Accounts Receivable Turnover		 12.11 10.72 10.41 10.92 9.19 11.02 10.42 10.27 9.37 10.64 9.01
Inventory Turnover		 5.14 5.07 5.55 6.64 7.13 6.22 7.20 7.08 7.02 6.25 6.77
Fixed Asset Turnover		 2.72 2.55 2.38 2.34 2.33 2.32 2.37 2.37 2.38 2.41 2.43
Accounts Payable Turnover		 7.72 6.50 5.24 6.12 5.76 5.25 5.29 5.87 5.65 5.34 4.89
Days Sales Outstanding (DSO)		 30.14 34.05 35.07 33.42 39.71 33.14 35.04 35.55 38.94 34.30 40.52
Days Inventory Outstanding (DIO)		 71.06 71.95 65.77 54.95 51.16 58.69 50.70 51.53 52.02 58.40 53.90
Days Payable Outstanding (DPO)		 47.27 56.13 69.68 59.64 63.34 69.58 69.02 62.21 64.63 68.40 74.61
Cash Conversion Cycle (CCC)		 53.93 49.86 31.16 28.74 27.54 22.25 16.71 24.87 26.33 24.30 19.80
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 375 356 368 374 400 360 373 347 352 336 360
Invested Capital Turnover		 2.00 1.97 1.89 1.94 1.85 1.98 1.94 1.99 1.90 2.06 1.94
Increase / (Decrease) in Invested Capital		 -109 -97 -42 0.93 26 3.39 4.25 -26 -48 -24 -13
Enterprise Value (EV)		 547 513 529 556 603 570 584 536 554 523 560
Market Capitalization		 107 92 99 125 141 139 140 115 119 101 108
Book Value per Share		 ($1.67) ($1.66) ($1.58) ($1.48) ($1.57) ($1.81) ($1.83) ($1.90) ($2.12) ($2.20) ($2.37)
Tangible Book Value per Share		 ($2.10) ($2.14) ($2.01) ($1.91) ($2.00) ($2.27) ($2.26) ($2.33) ($2.55) ($2.66) ($2.80)
Total Capital		 375 357 369 382 408 367 380 354 359 342 366
Total Debt		 440 421 430 439 469 438 452 428 441 428 459
Total Long-Term Debt		 440 421 430 439 469 438 452 428 441 428 458
Net Debt		 440 421 430 431 462 430 444 421 435 422 453
Capital Expenditures (CapEx)		 7.36 8.72 11 12 9.65 7.66 5.40 4.73 6.28 6.24 7.14
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 31 14 23 26 54 15 33 14 20 5.73 31
Debt-free Net Working Capital (DFNWC)		 31 14 23 26 54 15 33 14 20 5.78 31
Net Working Capital (NWC)		 31 14 23 26 54 15 33 14 20 5.77 31
Net Nonoperating Expense (NNE)		 11 2.64 11 9.79 12 14 -176 13 13 12 12
Net Nonoperating Obligations (NNO)		 440 421 430 431 462 430 444 421 435 422 453
Total Depreciation and Amortization (D&A)		 14 14 14 14 14 14 14 14 14 14 14
Debt-free, Cash-free Net Working Capital to Revenue		 3.59% 1.72% 3.12% 3.63% 7.51% 2.11% 4.64% 1.94% 2.76% 0.80% 4.29%
Debt-free Net Working Capital to Revenue		 3.60% 1.72% 3.13% 3.64% 7.52% 2.12% 4.65% 1.95% 2.76% 0.81% 4.30%
Net Working Capital to Revenue		 3.60% 1.72% 3.13% 3.64% 7.52% 2.12% 4.64% 1.94% 2.76% 0.81% 4.30%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.03) $0.02 $0.08 $0.09 ($0.08) ($0.22) ($0.03) ($0.06) ($0.21) ($0.07) ($0.17)
Adjusted Weighted Average Basic Shares Outstanding		 38.77M 38.77M 38.83M 38.83M 38.83M 38.83M 38.88M 38.89M 38.89M 38.89M 38.95M
Adjusted Diluted Earnings per Share		 ($0.03) $0.02 $0.08 $0.09 ($0.08) ($0.22) ($0.03) ($0.06) ($0.21) ($0.07) ($0.17)
Adjusted Weighted Average Diluted Shares Outstanding		 38.77M 38.77M 38.84M 38.89M 38.83M 38.83M 38.88M 38.89M 38.89M 38.89M 38.95M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 38.77M 38.77M 38.83M 38.83M 38.83M 38.83M 38.88M 38.89M 38.89M 38.89M 38.95M
Normalized Net Operating Profit after Tax (NOPAT)		 9.73 12 14 13 8.74 4.78 9.75 9.99 4.55 8.90 5.38
Normalized NOPAT Margin		 5.50% 6.64% 7.87% 7.00% 5.12% 2.79% 5.06% 5.53% 2.70% 5.11% 2.87%
Pre Tax Income Margin		 -0.15% 1.55% 2.25% 3.01% -1.32% -4.89% 0.04% -0.18% -4.56% -1.17% -3.33%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.98 1.20 1.29 1.39 0.87 0.46 1.02 1.02 0.47 0.88 0.57
NOPAT to Interest Expense		 0.69 0.22 1.04 0.94 0.61 0.32 -12.55 0.71 0.33 0.62 0.40
EBIT Less CapEx to Interest Expense		 0.49 0.59 0.47 0.55 0.21 -0.06 0.64 0.70 0.04 0.45 0.06
NOPAT Less CapEx to Interest Expense		 0.20 -0.39 0.21 0.11 -0.05 -0.19 -12.94 0.39 -0.10 0.18 -0.11
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -14.57% -17.43% 20.84% 12.20% 18.70% -15.27% -8.36% -5.06% -3.83% -5.41% -3.89%
Augmented Payout Ratio		 -14.57% -17.43% 20.84% 12.20% 18.70% -15.27% -8.36% -5.06% -3.83% -5.41% -3.89%

Financials Breakdown Chart

Key Financial Trends

Martin Midstream Partners (NASDAQ: MMLP) showed a mixed but somewhat improved operating picture in Q1 2026, with stronger revenue growth than the prior quarter but continued net losses and a highly leveraged balance sheet. The biggest takeaway for retail investors is that the business is still generating meaningful gross profit, but interest expense and balance-sheet strain continue to weigh heavily on bottom-line results.

  • Revenue rose to $187.7 million in Q1 2026 from $174.2 million in Q4 2025, showing solid sequential top-line growth.
  • Gross profit improved to $98.2 million, up slightly from $99.4 million in Q4 2025 and still well above operating expenses on a gross basis.
  • Operating income remained positive at $8.0 million, indicating the core business can still earn money before interest and taxes.
  • Operating cash flow improved on a trailing basis, with Q1 2026 operating cash flow of $(13.8) million versus $22.4 million in Q4 2025, though it remained negative in the quarter.
  • The company ended Q1 2026 with only $49,000 in cash, but it also managed to keep total cash change flat despite large swings in financing and investing activity.
  • Depreciation and amortization remain large non-cash charges, which support cash flow but also reflect a capital-intensive asset base.
  • Weighted average shares outstanding were essentially unchanged around 38.95 million, so recent earnings pressure is being driven by operating performance rather than major dilution.
  • Accounts receivable increased to $83.9 million from $58.6 million in Q3 2025, which may signal stronger sales or slower collections.
  • Total assets increased to $537.1 million from $510.1 million in Q3 2025, reflecting balance-sheet growth even as equity remained negative.
  • MMLP posted a net loss of $6.8 million in Q1 2026, widening from a $2.9 million loss in Q4 2025.
  • Interest expense remained heavy at $14.0 million, which exceeded operating income and pushed the company back into a pre-tax loss.
  • The balance sheet remains highly stretched, with $629.8 million in total liabilities versus $537.1 million in assets, leaving shareholders’ equity at negative $92.7 million.
  • Long-term debt stood at $458.5 million in Q1 2026, up from $441.3 million in Q3 2025, keeping leverage elevated.
  • Operating cash flow was negative $13.8 million in Q1 2026, and the company relied on $81.5 million of new debt issuance to offset repayments and fund the business.

Looking at the broader trend over the last four years, MMLP has been able to produce periods of positive operating income and even occasional net profit, but earnings have been inconsistent and frequently pressured by interest expense. Revenue has been relatively stable in the $170 million to $190 million quarterly range, but profitability has swung depending on margin and financing costs.

The most important issue for investors is the capital structure. Even when operations improve, the company’s high debt load and negative equity make sustained profitability difficult. In short, the business is showing operational resilience, but the balance sheet remains the main risk.

07/17/26 07:27 AM ETAI Generated. May Contain Errors.

Martin Midstream Partners Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Martin Midstream Partners' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Martin Midstream Partners' net income appears to be on an upward trend, with a most recent value of -$14.75 million in 2025, falling from $38.38 million in 2015. The previous period was -$5.21 million in 2024. Find out what analysts predict for Martin Midstream Partners in the coming months.

Martin Midstream Partners' total operating income in 2025 was $48.90 million, based on the following breakdown:
  • Total Gross Profit: $397.49 million
  • Total Operating Expenses: $348.59 million

Over the last 10 years, Martin Midstream Partners' total revenue changed from $1.04 billion in 2015 to $716.11 million in 2025, a change of -30.9%.

Martin Midstream Partners' total liabilities were at $608.21 million at the end of 2025, a 0.1% decrease from 2024, and a 38.4% decrease since 2015.

In the past 10 years, Martin Midstream Partners' cash and equivalents has ranged from $15 thousand in 2016 to $4.96 million in 2020, and is currently $49 thousand as of their latest financial filing in 2025.

Over the last 10 years, Martin Midstream Partners' book value per share changed from 11.11 in 2015 to -2.20 in 2025, a change of -119.8%.


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Financial statements for NASDAQ:MMLP last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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