Martin Midstream Partners L.P., together with its subsidiaries, provides terminalling, processing, and storage services for petroleum products and by-products in the United States. It operates through four segments: Terminalling and Storage, Transportation, Sulfur Services, and Specialty Products. The company owns or operates various marine shore-based terminal facilities and specialty terminal facilities, as well as naphthenic lubricants refinery; and offers storage, …
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Competitive advantage assessment
Key strengths
ROIC Sustainably Above PeersROIC at 83.3th percentile exceeds peers and WACC, demonstrating superior capital allocation.
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.87), demonstrating pricing resilience across cycles.
Martin Midstream Partners L.P. ranks #37 of 56
scored companies in Oil & Gas Midstream by moat score — the top 66%.
The widest moat in the group is Hess Midstream LP (HESM)
at 84/100.
Moat scores for companies ranked near MMLP in Oil & Gas Midstream
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 27
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 37
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 83
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 26
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 43
· 15% of the moat score
Scale matters only when it converts into economics.
What is Martin Midstream Partners L.P.'s moat score?
Martin Midstream Partners L.P. (MMLP) scores 44 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #37 of 56 scored companies in Oil & Gas Midstream, the top 66%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 67 companies in Oil & Gas Midstream. Its strongest defense is Capital Efficiency (83/100) and its weakest is Resilience (26/100).
How does Martin Midstream Partners L.P. compare with other Oil & Gas Midstream companies?
Martin Midstream Partners L.P. ranks #37 of 56 scored companies in Oil & Gas Midstream by moat score. The widest moat in Oil & Gas Midstream is Hess Midstream LP (HESM) at 84/100. The companies ranked closest are ONEOK, Inc. (OKE) at 44 just above it and Plains GP Holdings, L.P. (PAGP) at 43 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 67 companies in Oil & Gas Midstream. The defenses are then weighted to produce the overall score out of 100.
Why is Martin Midstream Partners L.P. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Martin Midstream Partners L.P.?
The Corporate Default template measures 6 defenses, and MMLP scores: Pricing Power (60), Cost Advantage (27), Customer Stickiness (37), Capital Efficiency (83), Resilience (26), Scale & Market Position (43). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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