Knot Offshore Partners Lp Financials

KNOP

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 47/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Knot Offshore Partners Lp has an operating margin of 22.9%, meaning the company retains $23 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 8.6% the prior year.

Growth

Knot Offshore Partners Lp's revenue grew 9.6% year-over-year to $318.6M, a solid pace of expansion. This earns a growth score of 56/100.

Leverage

Knot Offshore Partners Lp carries a low D/E ratio of 1.06, meaning only $1.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Knot Offshore Partners Lp's current ratio of 0.33 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Returns

Knot Offshore Partners Lp generates a 2.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 9/100.

Piotroski F-Score Neutral

6/9

Knot Offshore Partners Lp passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

9.75x

For every $1 of reported earnings, Knot Offshore Partners Lp generates $9.75 in operating cash flow ($137.1M OCF vs $14.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.1x

Knot Offshore Partners Lp earns $1.1 in operating income for every $1 of interest expense ($72.9M vs $67.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Knot Offshore Partners Lp (KNOP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$318.6M

YoY+9.6%

5Y CAGR+2.4%

10Y CAGR+10.9%

Knot Offshore Partners Lp generated $318.6M in revenue in fiscal year 2024. This represents an increase of 9.6% from the prior year.

EBITDA

$184.7M

YoY+35.8%

5Y CAGR-3.3%

10Y CAGR+8.1%

Knot Offshore Partners Lp's EBITDA was $184.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 35.8% from the prior year.

Free Cash Flow

N/A

Net Income

$14.1M

YoY+141.0%

5Y CAGR-24.9%

Knot Offshore Partners Lp reported $14.1M in net income in fiscal year 2024. This represents an increase of 141.0% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$66.9M

YoY+4.7%

5Y CAGR+9.0%

10Y CAGR+8.1%

Knot Offshore Partners Lp held $66.9M in cash against $648.1M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

22.9%

YoY+14.2pp

5Y CAGR-22.3pp

10Y CAGR-21.7pp

Knot Offshore Partners Lp's operating margin was 22.9% in fiscal year 2024, reflecting core business profitability. This is up 14.2 percentage points from the prior year.

Net Margin

4.4%

YoY+16.2pp

5Y CAGR-16.5pp

10Y CAGR+16.0pp

Knot Offshore Partners Lp's net profit margin was 4.4% in fiscal year 2024, showing the share of revenue converted to profit. This is up 16.2 percentage points from the prior year.

Return on Equity

2.3%

5Y CAGR-6.0pp

Knot Offshore Partners Lp's ROE was 2.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

KNOP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$318.6M+9.6%	$290.7M+8.2%	$268.6M-4.5%	$281.1M+0.7%	$279.2M-1.2%	$282.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$6.1M-1.2%	$6.1M+0.7%	$6.1M-5.6%	$6.5M+19.8%	$5.4M+11.0%	$4.9M
Operating Income	$72.9M+190.1%	$25.1M-62.0%	$66.2M-10.0%	$73.6M-40.2%	$123.1M-3.6%	$127.7M
Interest Expense	$67.4M-6.5%	$72.1M+69.2%	$42.6M+51.8%	$28.1M-11.3%	$31.6M-37.6%	$50.7M
Income Tax	$631K+113.7%	-$4.6M-625.1%	$875K+79.3%	$488K+4780.0%	$10K+11.1%	$9K
Net Income	$14.1M+141.0%	-$34.3M-158.5%	$58.7M+8.9%	$53.9M-17.4%	$65.2M+10.6%	$59.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Revenue	$87.1M+17.0%	$74.4M	N/A	$73.8M	N/A	$64.0M	N/A	$70.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.6M+9.0%	$1.4M	N/A	$1.8M	N/A	$1.4M	N/A	$1.5M
Operating Income	$22.2M+1573.0%	$1.3M	N/A	-$31.2M	N/A	$13.4M	N/A	-$1.2M
Interest Expense	$15.3M-9.2%	$16.9M	N/A	$18.1M	N/A	$8.3M	N/A	$6.8M
Income Tax	$125K-41.3%	$213K	N/A	$49K	N/A	$166K	N/A	$261K
Net Income	$6.8M+153.0%	-$12.9M	N/A	-$40.4M	N/A	$9.9M	N/A	-$10.9M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

KNOP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.6B-1.5%	$1.6B-7.9%	$1.7B+3.4%	$1.7B-5.8%	$1.8B+2.4%	$1.7B
Current Assets	$95.4M+6.2%	$89.8M+4.5%	$85.9M+16.3%	$73.9M+11.2%	$66.5M+25.9%	$52.8M
Cash & Equivalents	$66.9M+4.7%	$63.9M+34.3%	$47.6M-23.6%	$62.3M+18.5%	$52.6M+20.8%	$43.5M
Inventory	$3.3M-10.6%	$3.7M-35.8%	$5.8M+74.2%	$3.3M+24.7%	$2.7M+15.7%	$2.3M
Accounts Receivable	$6.3M+28.0%	$4.9M-36.3%	$7.7M	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$961.0M-2.8%	$989.0M-8.6%	$1.1B+7.7%	$1.0B-7.2%	$1.1B+5.5%	$1.0B
Current Liabilities	$287.1M+125.1%	$127.6M-67.3%	$390.0M+236.3%	$116.0M-45.8%	$213.9M+105.7%	$104.0M
Long-Term Debt	$648.1M-24.5%	$857.8M+24.9%	$686.6M-21.8%	$878.5M+3.8%	$846.2M-7.2%	$911.9M
Total Equity	$611.1M+0.6%	$607.5M-6.9%	$652.2M-3.1%	$673.0M-3.5%	$697.5M-2.0%	$711.7M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Total Assets	$1.6B+3.3%	$1.6B-1.5%	$1.6B-3.1%	$1.6B-5.0%	$1.7B+3.1%	$1.7B+0.3%	$1.7B-2.4%	$1.7B
Current Assets	$94.6M-0.8%	$95.4M+6.2%	$89.8M-4.5%	$94.0M+9.4%	$85.9M-21.7%	$109.8M+48.6%	$73.9M+4.1%	$71.0M
Cash & Equivalents	$66.3M-0.9%	$66.9M+4.7%	$63.9M+1.3%	$63.1M+32.7%	$47.6M-46.2%	$88.5M+42.0%	$62.3M+20.7%	$51.6M
Inventory	$3.6M+8.9%	$3.3M-10.6%	$3.7M+19.4%	$3.1M-46.2%	$5.8M+57.9%	$3.6M+10.3%	$3.3M+1.3%	$3.3M
Accounts Receivable	N/A	$6.3M+28.0%	$4.9M+55.0%	$3.1M-58.9%	$7.7M	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.0B+4.5%	$961.0M-2.8%	$989.0M-5.1%	$1.0B-3.6%	$1.1B+6.8%	$1.0B+0.8%	$1.0B-3.8%	$1.0B
Current Liabilities	$219.1M-23.7%	$287.1M+125.1%	$127.6M-41.3%	$217.5M-44.2%	$390.0M+234.0%	$116.8M+0.7%	$116.0M-69.9%	$384.7M
Long-Term Debt	$735.4M+13.5%	$648.1M-24.5%	$857.8M+4.5%	$820.9M+19.6%	$686.6M-22.9%	$891.1M+1.4%	$878.5M+35.9%	$646.3M
Total Equity	$620.3M+1.5%	$611.1M+0.6%	$607.5M+0.4%	$605.3M-7.2%	$652.2M-2.6%	$669.9M-0.5%	$673.0M-0.3%	$675.1M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

KNOP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$137.1M+4.2%	$131.6M+30.4%	$100.9M-39.3%	$166.4M-1.7%	$169.2M+2.1%	$165.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$338K+87.8%	-$2.8M+92.2%	-$35.5M-207.9%	-$11.5M+46.2%	-$21.4M	N/A
Financing Cash Flow	-$133.3M-18.5%	-$112.5M-40.7%	-$80.0M+44.9%	-$145.1M-4.2%	-$139.3M+15.0%	-$163.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

KNOP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	22.9%+14.2pp	8.6%-16.0pp	24.7%-1.5pp	26.2%-17.9pp	44.1%-1.1pp	45.2%
Net Margin	4.4%+16.2pp	-11.8%-33.7pp	21.8%+2.7pp	19.2%-4.2pp	23.4%+2.5pp	20.9%
Return on Equity	2.3%	N/A	9.0%+1.0pp	8.0%-1.3pp	9.3%+1.1pp	8.3%
Return on Assets	0.9%+3.0pp	-2.1%-5.5pp	3.4%+0.2pp	3.2%-0.5pp	3.7%+0.3pp	3.4%
Current Ratio	0.33-0.4	0.70+0.5	0.22-0.4	0.64+0.3	0.31-0.2	0.51
Debt-to-Equity	1.06-0.4	1.41+0.4	1.05-0.3	1.31+0.1	1.21-0.1	1.28
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	25.5%+23.7pp	1.8%	N/A	-42.3%	N/A	21.0%	N/A	-1.7%
Net Margin	7.8%+25.1pp	-17.3%	N/A	-54.7%	N/A	15.5%	N/A	-15.4%
Return on Equity	1.1%	N/A	N/A	N/A	N/A	1.5%	N/A	N/A
Return on Assets	0.4%+1.3pp	-0.9%	N/A	-2.5%	N/A	0.6%	N/A	-0.6%
Current Ratio	0.43+0.1	0.33-0.4	0.70+0.3	0.43+0.2	0.22-0.7	0.94+0.3	0.64+0.5	0.18
Debt-to-Equity	1.19+0.1	1.06-0.4	1.41+0.1	1.36+0.3	1.05-0.3	1.33+0.0	1.31+0.3	0.96
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.33), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Knot Offshore Partners Lp's annual revenue?

Knot Offshore Partners Lp (KNOP) reported $318.6M in total revenue for fiscal year 2024. This represents a 9.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Knot Offshore Partners Lp's revenue growing?

Knot Offshore Partners Lp (KNOP) revenue grew by 9.6% year-over-year, from $290.7M to $318.6M in fiscal year 2024.

Is Knot Offshore Partners Lp profitable?

Yes, Knot Offshore Partners Lp (KNOP) reported a net income of $14.1M in fiscal year 2024, with a net profit margin of 4.4%.

What is Knot Offshore Partners Lp's EBITDA?

Knot Offshore Partners Lp (KNOP) had EBITDA of $184.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Knot Offshore Partners Lp have?

As of fiscal year 2024, Knot Offshore Partners Lp (KNOP) had $66.9M in cash and equivalents against $648.1M in long-term debt.

What is Knot Offshore Partners Lp's operating margin?

Knot Offshore Partners Lp (KNOP) had an operating margin of 22.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Knot Offshore Partners Lp's net profit margin?

Knot Offshore Partners Lp (KNOP) had a net profit margin of 4.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Knot Offshore Partners Lp's return on equity (ROE)?

Knot Offshore Partners Lp (KNOP) has a return on equity of 2.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Knot Offshore Partners Lp's operating cash flow?

Knot Offshore Partners Lp (KNOP) generated $137.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Knot Offshore Partners Lp's total assets?

Knot Offshore Partners Lp (KNOP) had $1.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What is Knot Offshore Partners Lp's current ratio?

Knot Offshore Partners Lp (KNOP) had a current ratio of 0.33 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Knot Offshore Partners Lp's debt-to-equity ratio?

Knot Offshore Partners Lp (KNOP) had a debt-to-equity ratio of 1.06 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Knot Offshore Partners Lp's return on assets (ROA)?

Knot Offshore Partners Lp (KNOP) had a return on assets of 0.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Knot Offshore Partners Lp's Piotroski F-Score?

Knot Offshore Partners Lp (KNOP) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Knot Offshore Partners Lp's earnings high quality?

Knot Offshore Partners Lp (KNOP) has an earnings quality ratio of 9.75x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Knot Offshore Partners Lp cover its interest payments?

Knot Offshore Partners Lp (KNOP) has an interest coverage ratio of 1.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Knot Offshore Partners Lp?

Knot Offshore Partners Lp (KNOP) scores 47 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.