Martin Midstream Prtnrs L P Financials

MMLP

Trailing 12 months to June 30, 2026

Revenue $744.2M +4.0% YoY

Net Income -$15.4M +1.8% YoY

EPS (Diluted) Not reported for the trailing 12 months

Free Cash Flow -$10.9M -157.6% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 27, 2026 Currency USD FYE December

Martin Midstream Prtnrs L P (MMLP) reported $744.2M in revenue over the twelve months to Jun 30, 2026, up 4.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI MMLP FY2025 2026-08-29

Stable gross profitability is being consumed by financing costs and a balance sheet whose liabilities exceed assets.

Interest expense was $58M versus $49M of operating income in FY2025, so the financing structure absorbed more than the business generated before interest. Cash conversion weakened across FY2023-FY2025: operating cash flow fell to $46M and free cash flow to $21M from much higher FY2023 levels, despite continued positive operating income.

Gross margin stayed above 50.0% through FY2025, but operating margin narrowed from 8.1% to 6.8%, indicating that pressure emerged after direct costs rather than in the basic revenue spread. Total liabilities were $608M against $522M of assets in FY2025, an asset shortfall that leaves limited balance-sheet protection.

Revenue was $716M in FY2025, close to $708M in FY2024, so the latest weakness was not primarily a top-line event. Capital spending fell to $25M from $42M, yet free cash flow was only $21M; the cash improvement therefore partly reflects lower reinvestment rather than stronger earnings. The current ratio eased to 1.0x from 1.9x in FY2022, reducing short-term cushion.

Financial Health Signals

Financial Health Score 43/100

Scored as: Energy peer group

Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Martin Midstream Prtnrs L P's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Growth

Leverage

Liquidity

Cash Flow

Returns

Piotroski F-Score Neutral

4/9

Martin Midstream Prtnrs L P passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

N/A

Martin Midstream Prtnrs L P reported a net loss of $14.7M while generating $46.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

0.85x

Martin Midstream Prtnrs L P earns $0.85 in operating income for every $1 of interest expense ($48.9M vs $57.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$716.1M

YoY+1.2%

5Y CAGR+1.3%

10Y CAGR-3.6%

Martin Midstream Prtnrs L P generated $716.1M in revenue in fiscal year 2025. This represents an increase of 1.2% from the prior year.

EBITDA

$99.1M

YoY-8.3%

5Y CAGR-1.7%

10Y CAGR-4.8%

Martin Midstream Prtnrs L P's EBITDA was $99.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 8.3% from the prior year.

Net Income

-$14.7M

YoY-183.2%

Martin Midstream Prtnrs L P reported -$14.7M in net income in fiscal year 2025. This represents a decrease of 183.2% from the prior year.

EPS (Diluted)

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

$21.4M

YoY+236.7%

5Y CAGR-10.0%

10Y CAGR-15.6%

Martin Midstream Prtnrs L P generated $21.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 236.7% from the prior year.

Cash & Debt

$49K

YoY-10.9%

5Y CAGR-60.3%

10Y CAGR+4.7%

Martin Midstream Prtnrs L P held $49K in cash against $428.0M in long-term debt as of fiscal year 2025.

Shares Outstanding

39M

YoY0.0%

5Y CAGR+0.1%

10Y CAGR+1.0%

Martin Midstream Prtnrs L P had 39M shares outstanding in fiscal year 2025. That is unchanged from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

55.5%

YoY-2.5pp

5Y CAGR+8.6pp

10Y CAGR+17.4pp

Martin Midstream Prtnrs L P's gross margin was 55.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.5 percentage points from the prior year.

Operating Margin

6.8%

YoY-1.3pp

5Y CAGR-0.1pp

10Y CAGR+0.1pp

Martin Midstream Prtnrs L P's operating margin was 6.8% in fiscal year 2025, reflecting core business profitability. This is down 1.3 percentage points from the prior year.

Net Margin

-2.1%

YoY-1.3pp

5Y CAGR-1.1pp

10Y CAGR-5.8pp

Martin Midstream Prtnrs L P's net profit margin was -2.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.3 percentage points from the prior year.

Return on Equity

Not reported for fiscal year 2025.

Capital Allocation

Capital Expenditures

$24.8M

YoY-41.0%

5Y CAGR-2.9%

10Y CAGR-9.3%

Martin Midstream Prtnrs L P invested $24.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 41.0% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Share Buybacks

Not reported for fiscal year 2025.

MMLP Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MMLP quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$744.2M	$716.1M+1.2%	$707.6M-11.3%	$798.0M-21.7%	$1.0B+15.5%	$882.4M+31.3%	$672.1M-20.7%	$847.1M-17.0%	$1.0B+4.8%	$973.4M+17.6%	$827.4M-20.2%	$1.0B-37.3%	$1.7B+1.9%	$1.6B+8.2%	$1.5B+19.5%	$1.3B
Cost of Revenue	$347.6M	$318.6M+7.3%	$297.0M-23.8%	$389.7M-37.5%	$623.3M+16.9%	$533.1M+49.4%	$356.9M-27.6%	$492.8M-25.3%	$659.3M+10.9%	$594.7M+24.4%	$478.2M-25.4%	$641.4M-49.9%	$1.3B-0.1%	$1.3B+6.6%	$1.2B+20.1%	$1.0B
Gross Profit	$396.5M	$397.5M-3.2%	$410.6M+0.6%	$408.3M+3.2%	$395.6M+13.2%	$349.3M+10.8%	$315.2M-11.0%	$354.3M-1.8%	$360.8M-4.7%	$378.7M+8.5%	$349.2M-11.7%	$395.4M+6.2%	$372.4M+9.7%	$339.4M+14.7%	$295.8M+16.9%	$253.0M
SG&A Expenses	$39.6M	$42.0M-13.4%	$48.5M+18.8%	$40.8M-2.4%	$41.8M+2.0%	$41.0M+0.3%	$40.9M-1.3%	$41.4M+5.9%	$39.1M+0.1%	$39.1M+13.9%	$34.3M-6.7%	$36.8M+1.3%	$36.3M+24.2%	$29.2M+14.7%	$25.5M+24.2%	$20.5M
Operating Income	$46.9M	$48.9M-14.7%	$57.3M-14.1%	$66.7M+30.2%	$51.3M-10.5%	$57.3M+23.2%	$46.5M-20.0%	$58.1M+29.0%	$45.1M-1.2%	$45.6M-37.3%	$72.7M+3.7%	$70.2M+3.4%	$67.9M-16.7%	$81.5M+10.3%	$73.8M+55.9%	$47.4M
Interest Expense	$57.5M	$57.8M+0.1%	$57.7M-4.3%	$60.3M+12.3%	$53.7M+199.2%	-$54.1M-17.1%	-$46.2M+10.6%	-$51.7M+1.3%	-$52.3M-9.6%	-$47.8M-3.6%	-$46.1M-6.5%	-$43.3M-202.6%	$42.2M-0.7%	$42.5M+38.6%	$30.7M+14.5%	$26.8M
Income Tax	$4.0M	$4.8M+13.7%	$4.2M-29.1%	$5.9M-25.3%	$7.9M+134.5%	$3.4M+94.7%	$1.7M-8.6%	$1.9M+229.3%	$577K+265.2%	$158K-78.2%	$726K-30.7%	$1.0M-7.8%	$1.1M+51.0%	$753K-78.8%	$3.6M+23.9%	$2.9M
Net Income	-$15.4M	-$14.7M-183.2%	-$5.2M-14.5%	-$4.5M+56.0%	-$10.3M-4797.6%	-$211K+96.9%	-$6.8M+96.1%	-$174.9M-414.3%	$55.7M+179.4%	$19.9M-37.1%	$31.7M-17.5%	$38.4M+427.9%	-$11.7M+12.3%	-$13.4M-113.1%	$102.0M+348.1%	$22.8M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$213.6M+13.8%	$187.7M+7.7%	$174.2M+3.2%	$168.7M-6.6%	$180.7M-6.2%	$192.5M+12.4%	$171.3M+0.2%	$170.9M
Cost of Revenue	$107.6M+20.2%	$89.5M+19.7%	$74.8M-1.2%	$75.7M-3.5%	$78.5M-12.4%	$89.6M+25.1%	$71.6M+0.9%	$71.0M
Gross Profit	$106.0M+8.0%	$98.2M-1.2%	$99.4M+6.9%	$93.0M-9.0%	$102.2M-0.8%	$103.0M+3.2%	$99.7M-0.2%	$100.0M
SG&A Expenses	$9.4M-13.0%	$10.8M+7.1%	$10.1M+9.0%	$9.3M-14.9%	$10.9M-7.6%	$11.8M-28.2%	$16.4M+31.2%	$12.5M
Operating Income	$19.3M+140.2%	$8.0M-36.9%	$12.7M+84.5%	$6.9M-53.7%	$14.9M+3.3%	$14.4M+111.1%	$6.8M-46.1%	$12.7M
Interest Expense	$14.5M+3.8%	$14.0M-3.4%	$14.5M-1.1%	$14.6M0.0%	$14.6M+3.6%	$14.1M-5.3%	$14.9M+2.1%	$14.6M
Income Tax	$1.9M+262.0%	$518K-39.5%	$856K+19.7%	$715K-65.7%	$2.1M+86.6%	$1.1M+98.4%	$563K-47.2%	$1.1M
Net Income	$2.6M+139.2%	-$6.8M-133.7%	-$2.9M+65.6%	-$8.4M-249.5%	-$2.4M-133.0%	-$1.0M+88.4%	-$8.9M-169.4%	-$3.3M

Not reported in any period shown, so not listed: R&D Expenses, EPS (Diluted).

MMLP Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MMLP quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$522.4M-3.0%	$538.5M+5.7%	$509.4M-14.9%	$598.9M+3.3%	$579.9M0.0%	$579.6M-13.1%	$667.2M-37.9%	$1.1B-14.3%	$1.3B+0.6%	$1.2B-9.7%	$1.4B-10.4%	$1.5B+40.3%	$1.1B+8.4%	$1.0B-5.2%	$1.1B
Current Assets	$129.9M-0.4%	$130.5M+14.1%	$114.3M-45.9%	$211.1M+21.6%	$173.7M+28.1%	$135.6M-25.2%	$181.4M-12.8%	$208.0M-14.3%	$242.7M+25.1%	$194.0M+15.6%	$167.8M-41.7%	$287.8M-3.3%	$297.5M-5.5%	$314.9M-34.1%	$477.9M
Cash & Equivalents	$49K-10.9%	$55K+1.9%	$54K+20.0%	$45K-13.5%	$52K-99.0%	$5.0M+73.6%	$2.9M+1105.1%	$237K+777.8%	$27K+80.0%	$15K-51.6%	$31K-26.2%	$42K-99.7%	$16.5M+220.5%	$5.2M+1840.6%	$266K
Inventory	$50.2M-2.8%	$51.7M+18.0%	$43.8M-60.1%	$109.8M+76.8%	$62.1M+14.8%	$54.1M-13.5%	$62.5M-25.8%	$84.3M-13.4%	$97.3M+17.7%	$82.6M+8.9%	$75.9M-14.5%	$88.7M-6.5%	$94.9M-1.1%	$96.0M+2.9%	$93.3M
Goodwill	$16.7M0.0%	$16.7M0.0%	$16.7M0.0%	$16.7M-0.9%	$16.8M0.0%	$16.8M-5.0%	$17.7M-0.4%	$17.8M+2.8%	$17.3M0.0%	$17.3M-27.3%	$23.8M0.0%	$23.8M0.0%	$23.8M+21.3%	$19.6M+135.3%	$8.3M
Total Liabilities	$608.2M-0.1%	$608.9M+6.1%	$574.0M-12.8%	$658.3M+4.8%	$627.9M+0.2%	$626.5M-10.9%	$703.4M-10.4%	$785.2M-17.8%	$955.3M+2.2%	$934.4M-5.3%	$986.6M-6.5%	$1.1B+26.0%	$837.5M+27.9%	$655.0M-10.5%	$731.9M
Current Liabilities	$124.1M+7.5%	$115.5M+14.9%	$100.6M-9.3%	$110.9M+6.6%	$104.1M-12.8%	$119.4M+11.3%	$107.3M-4.0%	$111.8M-16.9%	$134.4M+14.3%	$117.6M-1.3%	$119.2M-27.1%	$163.6M-7.4%	$176.6M-1.1%	$178.5M-31.9%	$262.2M
Long-Term Debt	$428.0M-2.2%	$437.6M+3.9%	$421.2M-17.9%	$512.9M+2.8%	$498.9M+2.9%	$484.6M-15.0%	$569.8M-13.2%	$656.5M-19.2%	$812.6M+0.6%	$808.1M-6.6%	$865.0M-2.7%	$888.9M+34.9%	$658.7M+38.7%	$475.0M+3.5%	$458.9M
Total Equity	-$85.8M-21.8%	-$70.4M-9.0%	-$64.6M-8.7%	-$59.4M-23.7%	-$48.0M-2.5%	-$46.9M-29.5%	-$36.2M-112.5%	$288.4M-3.3%	$298.2M-4.4%	$312.0M-20.8%	$393.9M-18.9%	$485.7M+86.5%	$260.4M-27.3%	$358.0M+6.2%	$337.2M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$547.4M+1.9%	$537.1M+2.8%	$522.4M+2.4%	$510.1M-1.1%	$515.6M-3.3%	$533.4M-0.9%	$538.5M-2.9%	$554.8M
Current Assets	$162.7M+9.4%	$148.8M+14.5%	$129.9M+10.7%	$117.3M-3.5%	$121.6M-6.2%	$129.6M-0.6%	$130.5M-12.3%	$148.8M
Cash & Equivalents	$50K+2.0%	$49K0.0%	$49K0.0%	$49K+4.3%	$47K-9.6%	$52K-5.5%	$55K-1.8%	$56K
Inventory	$60.4M+21.6%	$49.7M-1.2%	$50.2M+7.2%	$46.9M+1.6%	$46.1M+3.8%	$44.4M-14.1%	$51.7M+20.1%	$43.0M
Goodwill	$16.7M0.0%	$16.7M0.0%	$16.7M0.0%	$16.7M0.0%	$16.7M0.0%	$16.7M0.0%	$16.7M0.0%	$16.7M
Total Liabilities	$637.6M+1.2%	$629.8M+3.6%	$608.2M+2.6%	$592.9M+0.5%	$589.8M-2.5%	$605.0M-0.6%	$608.9M-1.2%	$616.1M
Current Liabilities	$134.3M+13.6%	$118.2M-4.8%	$124.1M+27.2%	$97.6M-9.4%	$107.7M+11.9%	$96.2M-16.7%	$115.5M+21.7%	$94.9M
Long-Term Debt	$453.7M-1.0%	$458.4M+7.1%	$428.0M-3.0%	$441.3M+3.1%	$427.8M-5.2%	$451.4M+3.2%	$437.6M-6.7%	$469.3M
Total Equity	-$90.2M+2.7%	-$92.7M-8.1%	-$85.8M-3.7%	-$82.7M-11.5%	-$74.2M-3.6%	-$71.6M-1.7%	-$70.4M-14.8%	-$61.3M

Not reported in any period shown, so not listed: Accounts Receivable, Retained Earnings.

MMLP Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MMLP quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$19.7M	$46.1M-4.6%	$48.4M-64.8%	$137.5M+751.3%	$16.1M-54.8%	$35.7M-44.8%	$64.8M-14.5%	$75.8M-27.8%	$105.0M+52.0%	$69.1M-37.7%	$110.8M-39.3%	$182.6M+58.0%	$115.6M+3.0%	$112.2M+243.3%	$32.7M-64.2%	$91.4M
Capital Expenditures	$30.6M	$24.8M-41.0%	$42.0M+22.4%	$34.3M+26.0%	$27.2M+69.6%	$16.1M-43.9%	$28.6M-6.5%	$30.6M-13.1%	$35.3M-15.9%	$41.9M+3.7%	$40.5M-38.5%	$65.8M-22.0%	$84.3M-8.6%	$92.2M-1.5%	$93.6M+21.3%	$77.2M
Free Cash Flow	-$10.9M	$21.4M+236.7%	$6.3M-93.9%	$103.2M+1030.2%	-$11.1M-156.4%	$19.7M-45.6%	$36.2M-20.0%	$45.2M-35.2%	$69.8M+157.0%	$27.2M-61.4%	$70.4M-39.7%	$116.8M+273.4%	$31.3M+56.8%	$19.9M+132.7%	-$61.0M-530.5%	$14.2M
Investing Cash Flow	-$39.0M	-$30.0M+48.8%	-$58.6M-74.1%	-$33.7M-36.6%	-$24.6M-28.1%	-$19.2M-838.9%	$2.6M-98.5%	$174.8M+18.4%	$147.6M+454.6%	-$41.6M-165.2%	$63.8M+368.2%	-$23.8M+92.7%	-$324.7M-73.8%	-$186.8M-1142.2%	-$15.0M+92.6%	-$202.7M
Financing Cash Flow	$19.3M	-$16.1M-257.2%	$10.3M+109.9%	-$103.8M-1322.7%	$8.5M+139.7%	-$21.4M+67.2%	-$65.3M+73.7%	-$248.1M+1.7%	-$252.4M-820.1%	-$27.4M+84.3%	-$174.7M-10.0%	-$158.8M-182.4%	$192.6M+124.0%	$86.0M+774.5%	-$12.7M-112.7%	$100.2M
Share Buybacks	N/A	N/A	N/A	$0	$0-100.0%	$17K+88.9%	$9K-97.7%	$392K+43.6%	$273K+6725.0%	$4K-98.8%	$347K	$0-100.0%	$277K+10.8%	$250K+12.6%	$222K-61.9%	$582K

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$12.2M+188.6%	-$13.8M-161.4%	$22.4M+1950.2%	-$1.2M-103.9%	$30.9M+613.6%	-$6.0M-114.3%	$42.2M+367.7%	-$15.8M
Capital Expenditures	$9.5M+27.1%	$7.5M+9.1%	$6.9M+2.7%	$6.7M+11.1%	$6.0M+2.4%	$5.9M-26.1%	$8.0M-36.6%	$12.5M
Free Cash Flow	$2.7M+112.6%	-$21.3M-236.5%	$15.6M+297.3%	-$7.9M-131.7%	$24.9M+309.3%	-$11.9M-134.8%	$34.2M+221.0%	-$28.3M
Investing Cash Flow	-$6.0M+60.1%	-$14.9M-96.3%	-$7.6M+27.4%	-$10.5M-83.4%	-$5.7M+8.2%	-$6.2M+30.6%	-$9.0M+28.6%	-$12.5M
Financing Cash Flow	-$6.2M-121.8%	$28.7M+293.5%	-$14.8M-226.9%	$11.7M+146.4%	-$25.2M-306.1%	$12.2M+136.8%	-$33.2M-217.4%	$28.3M

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

MMLP Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

MMLP quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	55.5%-2.5pp	58.0%+6.9pp	51.2%+12.4pp	38.8%-0.8pp	39.6%-7.3pp	46.9%+5.1pp	41.8%+6.5pp	35.4%-3.5pp	38.9%-3.3pp	42.2%+4.1pp	38.1%+15.6pp	22.5%+1.6pp	20.9%+1.2pp	19.8%-0.4pp	20.2%
Operating Margin	6.8%-1.3pp	8.1%-0.3pp	8.4%+3.3pp	5.0%-1.5pp	6.5%-0.4pp	6.9%+0.1pp	6.9%+2.4pp	4.4%-0.3pp	4.7%-4.1pp	8.8%+2.0pp	6.8%+2.7pp	4.1%-0.9pp	5.0%+0.1pp	4.9%+1.1pp	3.8%
Net Margin	-2.1%-1.3pp	-0.7%-0.2pp	-0.6%+0.4pp	-1.0%-1.0pp	0.0%+1.0pp	-1.0%+19.6pp	-20.6%-26.1pp	5.5%+3.4pp	2.1%-1.8pp	3.8%+0.1pp	3.7%+4.4pp	-0.7%+0.1pp	-0.8%-7.6pp	6.8%+5.0pp	1.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	19.3%+12.6pp	6.7%-3.5pp	10.1%+0.4pp	9.7%+12.2pp	-2.4%+2.7pp	-5.1%-33.6pp	28.5%+21.7pp	6.8%
Return on Assets	-2.8%-1.8pp	-1.0%-0.1pp	-0.9%+0.8pp	-1.7%-1.7pp	0.0%+1.1pp	-1.2%+25.1pp	-26.2%-31.4pp	5.2%+3.6pp	1.6%-0.9pp	2.5%-0.2pp	2.8%+3.5pp	-0.8%+0.5pp	-1.2%-11.3pp	10.1%+7.9pp	2.1%
Current Ratio	1.05-0.1x	1.130.0x	1.14-0.8x	1.90+0.2x	1.67+0.5x	1.14-0.6x	1.69-0.2x	1.86+0.1x	1.81+0.2x	1.65+0.2x	1.41-0.4x	1.76+0.1x	1.68-0.1x	1.76-0.1x	1.82
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	2.28-0.4x	2.72+0.1x	2.59+0.4x	2.20+0.4x	1.83-0.7x	2.53+1.2x	1.330.0x	1.36
FCF Margin	3.0%+2.1pp	0.9%-12.0pp	12.9%+14.0pp	-1.1%-3.3pp	2.2%-3.1pp	5.4%0.0pp	5.3%-1.5pp	6.8%+4.0pp	2.8%-5.7pp	8.5%-2.8pp	11.3%+9.4pp	1.9%+0.7pp	1.2%+5.3pp	-4.1%-5.2pp	1.1%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	49.6%-2.7pp	52.3%-4.7pp	57.1%+1.9pp	55.1%-1.4pp	56.5%+3.1pp	53.5%-4.7pp	58.2%-0.3pp	58.5%
Operating Margin	9.0%+4.8pp	4.3%-3.0pp	7.3%+3.2pp	4.1%-4.2pp	8.2%+0.8pp	7.5%+3.5pp	4.0%-3.4pp	7.4%
Net Margin	1.2%+4.8pp	-3.6%-1.9pp	-1.7%+3.3pp	-5.0%-3.7pp	-1.3%-0.8pp	-0.5%+4.7pp	-5.2%-3.3pp	-1.9%
Return on Assets	0.5%+1.7pp	-1.3%-0.7pp	-0.5%+1.1pp	-1.7%-1.2pp	-0.5%-0.3pp	-0.2%+1.5pp	-1.7%-1.1pp	-0.6%
Current Ratio	1.210.0x	1.26+0.2x	1.05-0.2x	1.20+0.1x	1.13-0.2x	1.35+0.2x	1.13-0.4x	1.57
FCF Margin	1.3%+12.6pp	-11.3%-20.3pp	8.9%+13.6pp	-4.7%-18.5pp	13.8%+20.0pp	-6.2%-26.2pp	20.0%+36.5pp	-16.6%

Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.

Note: Shareholder equity is negative (-$85.8M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Where Martin Midstream Prtnrs L P Ranks

Frequently Asked Questions

What is Martin Midstream Prtnrs L P's annual revenue?

Martin Midstream Prtnrs L P (MMLP) reported $716.1M in total revenue for fiscal year 2025. This represents a 1.2% 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 Martin Midstream Prtnrs L P's revenue growing?

Martin Midstream Prtnrs L P (MMLP) revenue grew by 1.2% year-over-year, from $707.6M to $716.1M in fiscal year 2025.

Is Martin Midstream Prtnrs L P profitable?

No, Martin Midstream Prtnrs L P (MMLP) reported a net income of -$14.7M in fiscal year 2025, with a net profit margin of -2.1%.

What is Martin Midstream Prtnrs L P's EBITDA?

Martin Midstream Prtnrs L P (MMLP) had EBITDA of $99.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Martin Midstream Prtnrs L P have?

As of fiscal year 2025, Martin Midstream Prtnrs L P (MMLP) had $49K in cash and equivalents against $428.0M in long-term debt.

What is Martin Midstream Prtnrs L P's gross margin?

Martin Midstream Prtnrs L P (MMLP) had a gross margin of 55.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Martin Midstream Prtnrs L P's operating margin?

Martin Midstream Prtnrs L P (MMLP) had an operating margin of 6.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Martin Midstream Prtnrs L P's net profit margin?

Martin Midstream Prtnrs L P (MMLP) had a net profit margin of -2.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Martin Midstream Prtnrs L P's free cash flow?

Martin Midstream Prtnrs L P (MMLP) generated $21.4M in free cash flow during fiscal year 2025. This represents a 236.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Martin Midstream Prtnrs L P's operating cash flow?

Martin Midstream Prtnrs L P (MMLP) generated $46.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Martin Midstream Prtnrs L P's total assets?

Martin Midstream Prtnrs L P (MMLP) had $522.4M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Martin Midstream Prtnrs L P's capital expenditures?

Martin Midstream Prtnrs L P (MMLP) invested $24.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Martin Midstream Prtnrs L P have outstanding?

Martin Midstream Prtnrs L P (MMLP) had 39M shares outstanding as of fiscal year 2025.

What is Martin Midstream Prtnrs L P's current ratio?

Martin Midstream Prtnrs L P (MMLP) had a current ratio of 1.05 as of fiscal year 2025, which is considered adequate.

What is Martin Midstream Prtnrs L P's return on assets (ROA)?

Martin Midstream Prtnrs L P (MMLP) had a return on assets of -2.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is Martin Midstream Prtnrs L P's debt-to-equity ratio negative or not reported?

Martin Midstream Prtnrs L P (MMLP) has negative shareholder equity of -$85.8M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Martin Midstream Prtnrs L P's Piotroski F-Score?

Martin Midstream Prtnrs L P (MMLP) has a Piotroski F-Score of 4 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Martin Midstream Prtnrs L P's earnings high quality?

Martin Midstream Prtnrs L P (MMLP) reported a net loss of $14.7M while generating $46.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 Martin Midstream Prtnrs L P cover its interest payments?

Martin Midstream Prtnrs L P (MMLP) has an interest coverage ratio of 0.85x, 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 Martin Midstream Prtnrs L P?

Martin Midstream Prtnrs L P (MMLP) scores 43 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.