Martin Midstream (MMLP) AI Stock Analysis

• Market Cap: $92.56M
• Dividend Yield: 0.81%
• Average Volume (3M): 17.21K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.13
• Revenue Growth: -0.58%
• EPS Growth: -587.83%
• Country: US
• Employees: 1,292
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Midstream
• EPS (TTM): -0.21
• Shares Outstanding: 39,055,084
• 10 Day Avg. Volume: 26,178
• 30 Day Avg. Volume: 17,210
• PEG Ratio: -1.51
• Price to Book (P/B): -1.94
• Price to Sales (P/S): 0.20
• P/FCF Ratio: 21.98
• Enterprise Value/Market Cap: 6.80
• Enterprise Value/Revenue: 0.88
• Enterprise Value/Gross Profit: 2.13
• Enterprise Value/Ebitda: 6.87
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.15
• Revenue Forecast (FY): $722.80M

• Rating: 47 Neutral
• Price Target: $3.00 ▲(14.50% Upside)

Martin Midstream's overall stock score is primarily impacted by its challenging financial performance, characterized by declining revenues and high leverage. The technical analysis indicates a bearish trend, while the valuation reflects significant risks due to negative earnings. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Long-term Contracts

Stable cash flow from long-term contracts enhances financial predictability and reduces exposure to volatile energy prices, supporting business sustainability.

Diversified Service Portfolio

A diversified service portfolio allows Martin Midstream to spread risk across different revenue streams, providing resilience against market volatility.

Credit Facility Extension

Extending the credit facility enhances financial stability and operational flexibility, allowing Martin Midstream to manage debt more effectively and plan for long-term growth.

Negative Factors

Declining Revenue

Declining revenue indicates challenges in maintaining market share and competitiveness, which can undermine long-term growth and profitability.

High Leverage

High leverage increases financial risk and limits the company's ability to invest in growth opportunities, potentially impacting long-term financial health.

Negative Equity

Negative equity suggests that liabilities exceed assets, posing a risk to financial stability and limiting the company's ability to secure additional financing.

Martin Midstream Business Overview & Revenue Model

Company Description

Martin Midstream Partners L.P. (MMLP) is a diversified midstream company that provides a range of services to the petroleum and petrochemical industries. The company operates through various segments, including terminalling, transportation, and storage of petroleum products, as well as the production of sulfur and other specialty chemicals. Its core offerings encompass logistics services, storage facilities, and processing solutions, catering to both upstream and downstream sectors of the energy industry.

How the Company Makes Money

Martin Midstream generates revenue primarily through the provision of logistics and storage services to oil and gas producers and refiners. Key revenue streams include terminalling fees from storing and handling petroleum products, transportation fees for moving products through pipelines and rail, and sales from sulfur and specialty chemical production. The company also benefits from long-term contracts with major customers, which provide stable cash flow. Partnerships with key industry players enhance its market position and contribute to consistent earnings, while a diversified service portfolio helps mitigate risks associated with fluctuating energy prices.

Martin Midstream Financial Statement Overview

Summary

Martin Midstream faces significant financial challenges, with declining revenues, high leverage, and negative equity. Despite some improvement in cash flow, the financial position remains precarious due to ongoing losses and substantial debt levels.

Income Statement

The income statement shows a declining revenue trend with a significant drop in the TTM period. Gross profit margin has decreased from previous years, indicating cost pressures. The company has consistently reported negative net income, reflecting challenges in achieving profitability. EBIT and EBITDA margins have also declined, suggesting operational inefficiencies.

Balance Sheet

The balance sheet reveals a concerning negative stockholders' equity, indicating financial instability. The debt-to-equity ratio is extremely high, reflecting significant leverage and potential risk. Return on equity is negative, further highlighting profitability challenges. The equity ratio is also negative, underscoring the company's reliance on debt financing.

Cash Flow

Cash flow analysis shows some positive trends, with a notable increase in free cash flow in the TTM period. However, the operating cash flow to net income ratio indicates that cash generation is not sufficient to cover losses. The free cash flow to net income ratio is relatively healthy, suggesting some ability to generate cash despite net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	713.26M	707.62M	797.96M	1.02B	882.43M	672.14M
Gross Profit	294.96M	359.80M	106.18M	339.29M	292.58M	253.75M
EBITDA	91.50M	106.50M	111.55M	107.54M	114.03M	102.64M
Net Income	-20.59M	-5.08M	-4.44M	-10.33M	-211.00K	-6.77M
Balance Sheet
Total Assets	510.12M	538.51M	509.38M	598.85M	579.86M	579.64M
Cash, Cash Equivalents and Short-Term Investments	49.00K	55.00K	54.00K	45.00K	52.00K	4.96M
Total Debt	487.81M	505.23M	481.76M	548.23M	521.74M	539.09M
Total Liabilities	592.86M	608.95M	574.00M	658.30M	627.90M	626.51M
Stockholders Equity	-82.73M	-71.88M	-66.18M	-61.11M	-49.92M	-48.78M
Cash Flow
Free Cash Flow	43.24M	6.34M	103.15M	-11.09M	19.67M	36.16M
Operating Cash Flow	65.85M	48.35M	137.47M	16.15M	35.73M	64.78M
Investing Cash Flow	-31.36M	-58.60M	-33.66M	-24.64M	-19.24M	2.60M
Financing Cash Flow	-34.49M	10.25M	-103.80M	8.49M	-21.39M	-65.29M

Martin Midstream Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.62
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MMLP, the sentiment is Negative. The current price of 2.62 is above the 20-day moving average (MA) of 2.61, below the 50-day MA of 2.69, and below the 200-day MA of 3.03, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 34.11 is Neutral, neither overbought nor oversold. The STOCH value of 7.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MMLP.

Martin Midstream Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NGL	67 Neutral	$1.21B	-55.38	12.40%	―	-38.82%	92.56%
DKL	66 Neutral	$2.36B	14.30	―	10.07%	-1.78%	9.32%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
GLP	62 Neutral	$1.44B	20.29	11.24%	6.82%	4.10%	-36.72%
SMC	51 Neutral	$497.84M	-7.93	-1.23%	―	17.09%	72.64%
GEL	49 Neutral	$1.87B	-11.90	-11.88%	4.22%	-36.47%	-75.37%
MMLP	47 Neutral	$92.56M	-4.55	―	0.81%	-0.58%	-587.83%

Martin Midstream Corporate Events

Martin Midstream Extends Credit Facility to 2027

On September 24, 2025, Martin Midstream Partners L.P. announced an amendment and extension of its revolving credit facility, extending the maturity date to November 2027 and reducing the borrowing capacity from $150 million to $130 million. The amendment also revises financial covenants and includes an accordion feature for an additional $50 million. This adjustment in the credit facility reflects the company’s strategic financial management and may impact its operational flexibility and financial health, potentially influencing stakeholder confidence.