USD Partners (USDP) AI Stock Analysis

• Market Cap: $290.46K
• Dividend Yield: N/A
• Average Volume (3M): 26.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.42
• Revenue Growth: -42.99%
• EPS Growth: -394.28%
• Country: US
• Employees: 85
• Sector: Industrials
• Sector Strength: 72
• Industry: Railroads
• EPS (TTM): N/A
• Shares Outstanding: 33,774,426
• 10 Day Avg. Volume: 21,850
• 30 Day Avg. Volume: 26,631
• PEG Ratio: <0.01
• Price to Book (P/B): >-0.01
• Price to Sales (P/S): 0.03
• P/FCF Ratio: 0.56
• Enterprise Value/Market Cap: 602.08
• Enterprise Value/Revenue: 4.49
• Enterprise Value/Gross Profit: 15.44
• Enterprise Value/Ebitda: 28.79
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 37 Underperform
• Price Target: ―

The stock is at the lowest end of the score range due to significant financial distress, as evidenced by declining revenue, profitability, and negative equity. Technical indicators suggest bearish momentum, and valuation metrics are unattractive. Immediate strategic interventions are necessary to stabilize and improve financial health.

USD Partners Business Overview & Revenue Model

Company Description

USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The company operates through two segments, Terminalling Services and Fleet Services. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and West Colton Terminal, an unit train-capable destination terminals that trans load approximately 13,000 barrels per day ethanol and renewable diesel received by rail from producers onto trucks. The Fleet Services segment provides leased railcars and fleet services related to the transportation of liquid hydrocarbons. As of December 31, 2021, it operated a fleet of 200 railcars. USD Partners GP LLC serves as the general partner of the company. The company was incorporated in 2014 and is headquartered in Houston, Texas.

How the Company Makes Money

USD Partners generates revenue through several key streams, including fees for its transportation and terminaling services, which are often structured as long-term contracts with minimum volume commitments. The company primarily earns money by charging customers for the use of its rail loading and unloading facilities, storage services, and logistics management. Additionally, USD Partners benefits from partnerships with major oil producers and refiners that require reliable and efficient transport solutions for their products. These relationships help ensure stable cash flows through contracted services, alongside potential variable revenues that arise from market fluctuations in crude oil and refined product demand.

USD Partners Financial Statement Overview

Summary

USD Partners is experiencing significant financial difficulties. The income statement reveals declining revenue, profitability, and negative margins. The balance sheet indicates high leverage and negative equity, contributing to financial instability. While there is a positive shift in operating cash flows, the overall financial health remains weak, necessitating strategic interventions.

Income Statement

USD Partners has faced declining revenue and profitability. The net profit margin has significantly decreased, evidenced by a switch from positive net income in 2023 to a substantial net loss in 2024. Gross profit margins have also contracted, indicating struggles in maintaining cost efficiency. The negative EBIT and EBITDA margins further highlight operational challenges.

Balance Sheet

The balance sheet shows a precarious financial position with negative stockholders' equity, suggesting insolvency risks. The high debt-to-equity ratio indicates excessive leverage, exacerbating financial vulnerability. A negative equity ratio further emphasizes the company's over-leveraged state, posing substantial risks in maintaining financial stability.

Cash Flow

Operating cash flow has improved to positive in 2024 compared to a negative position in 2023, which is a positive turnaround. However, free cash flow remains low, indicating limited flexibility for reinvestment or debt reduction. The operating cash flow to net income ratio is positive but driven by adjustments rather than core profitability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	38.92M	35.83M	62.86M	111.66M	122.10M	120.04M
Gross Profit	11.33M	10.92M	23.69M	37.71M	42.00M	44.18M
EBITDA	6.08M	-14.95M	47.17M	-29.68M	53.92M	10.91M
Net Income	-36.74M	-52.34M	17.77M	-61.29M	22.83M	-19.81M
Balance Sheet
Total Assets	51.09M	52.00M	88.46M	126.78M	221.59M	237.55M
Cash, Cash Equivalents and Short-Term Investments	7.99M	8.23M	10.42M	2.53M	3.75M	3.04M
Total Debt	175.59M	181.99M	167.19M	215.48M	171.47M	205.16M
Total Liabilities	194.26M	198.85M	181.09M	239.18M	202.50M	231.28M
Stockholders Equity	-143.17M	-146.85M	-92.63M	-112.40M	703.00K	547.00K
Cash Flow
Free Cash Flow	-7.77M	1.98M	-10.72M	36.77M	44.74M	45.33M
Operating Cash Flow	-7.86M	1.98M	-10.07M	37.24M	47.13M	45.81M
Investing Cash Flow	51.41M	20.31M	63.06M	-73.72M	-2.39M	-484.00K
Financing Cash Flow	-48.07M	-23.76M	-48.40M	28.76M	-44.76M	-44.99M

USD Partners Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FSTR	73 Outperform	$278.12M	60.41	2.74%	―	-5.51%	-88.11%
RAIL	64 Neutral	$157.02M	3.32	―	―	-6.18%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
GBX	60 Neutral	$1.33B	6.76	14.03%	2.94%	-8.66%	27.14%
TRN	55 Neutral	$2.04B	22.22	10.04%	4.79%	-33.03%	-44.18%
RVSN	39 Underperform	$21.29M	-0.98	-74.03%	―	―	―
USDP	37 Underperform	$290.46K	>-0.01	―	―	-42.99%	-394.28%