Company Analysis

NGL ENERGY PARTNERS LP NGL

A comprehensive view of key metrics, scores, and financial health for NGL ENERGY PARTNERS LP

Overview of NGL Energy Partners LP

NGL NYQ

Energy Oil & Gas Midstream Framework: Commodities & Mining Small Cap

NGL Energy Partners LP (NGL), is a Small Cap company, in the Oil & Gas Midstream industry, last closed at $17.57, about 43.8% undervalued vs fair value, +203.5% 1Y return, placing in the top 25% of its sector.

Metrics Rev Growth -9.0% Gross Margin 22.8% Div Yield 5.99%

USD 17.57

-1.01%

(Delayed)

• Vol 90d: 48.0%

52-Week Range

Low

5.46

92%

Now 17.57

High

18.69

Market Cap

$1.97B

Enterprise Value

$5.36B

Overall Score

View breakdown

Overall

Growth

Weak

Profitability

Weak

Health

Weak

Efficiency

Fair

Valuation

Fair

Growth

Weak

Profitability

Weak

Health

Weak

Efficiency

Fair

Valuation

Fair

Completeness: 94%

Confidence: 57%

Updated: Sep 12

Top Beats

Quick Facts

Website https://www.nglenergypartners....

HQ Tulsa, OK

Employees 569

Fiscal year Mar 31

Next Events

Earnings Nov 3 Estimated

Fair Value Snapshot

Bear Base Bull

$22

$25

$29

Current: $17.57 +44% vs base

Engine Room Money Flow™

Small Cap

Commodities & Mining - Where revenue goes and how value is created

Flow Steps

Revenue

$3.2B

-9%%

Gross Profit

$719.2M

1.7%%

Operating Income

$351.1M

-2.7%%

EBITDA

$336.1M

-43.5%%

Money Flow Bridge

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Flow Direction: Money moves from left to right

Components: Breakdown shows composition of each stage

Industry-Specific: Commodities & Mining

Data Quality Notes

Mining/commodity companies are highly cyclical - cash flow can swing dramatically with commodity prices.
CapEx ($-221.3M) is below D&A ($268.7M), suggesting mostly sustaining CapEx.
High leverage is risky for cyclical commodity businesses during downturns.

Quality & Reliability Indicators

Cash Conversion Ratio FY2026

-1.02x

Operating Cash Flow / Net Income

Free cash flow relative to net income - not meaningful while net income is negative

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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$583.6M

403.4% of FCF

Where It Leaks

Cash Flow Health critical

Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.

Active Leaks

0/6

Improving

High Impact

Critical

Low

Working Capital Trap

Current: -19.5%

Conversion Leak

Worsening

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Scores based on quantitative metrics and qualitative factors

Full moat analysis

Key strengths

ROIC Sustainably Above Peers ROIC at 77.0th percentile exceeds peers and WACC, demonstrating superior capital allocation.
Margins Stable Across Cycles Operating margin volatility is low (stability score 0.80), demonstrating pricing resilience across cycles.

Key risks

Elevated Debt Risk Debt serviceability is weak (score 0.22), raising refinancing risk.
Inconsistent Cash Generation Cash generation is inconsistent (score 0.43), indicating operational challenges.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate

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Cost Advantage

Developing

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Customer Stickiness

Developing

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Capital Efficiency

Strong

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Resilience

Developing

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Scale & Market Position

Moderate

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Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Commodities & Mining vs Industry Peers 87% Coverage

Click axes to expand details. Marker shows current allocation.

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Growth

24th percentile vs peers

Key Signals

TSR 2.55 93p Rev Growth YoY -9.0% 25p Revenue CAGR 3Y -17.8% 11p EPS Growth YoY -4.35 3p

Strengths

TSR in top 20% of peers (2.55, 93th percentile)

Risks

EPS Growth YoY in bottom 20% of peers (-4.35)

Profitability

43th percentile vs peers

Key Signals

Strengths

Risks

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Safety

25th percentile vs peers

Key Signals

Strengths

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Two Futures

Scenario-based fair value ranges for NGL ENERGY PARTNERS LP.

WACC X.X%

X%XX%

Rev CAGR 5Y X.X%

-XX%XX%

Op Margin XX.X%

-XX%XX%

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Bear

- - -

- upside

Base

$25.27

- - -

+43.8% vs current

Snapshot base estimate

Bull

- - -

- upside

Fair Value Range Current: $-

$- $- $-

NGL ENERGY PARTNERS LP NGL

Overview of NGL Energy Partners LP

Quick Facts

Next Events

Fair Value Snapshot

Flow Steps

Money Flow Bridge

Data Quality Notes

Quality & Reliability Indicators

Cash Conversion Ratio FY2026

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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Working Capital Trap

Locked Leak

Locked Leak

Locked Leak

Locked Leak

Locked Leak

Key strengths

Key risks

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Pricing Power

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Cost Advantage

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Customer Stickiness

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Capital Efficiency

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Resilience

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Scale & Market Position

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Growth

Profitability

Safety

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