USD PARTNERS LP (USDP) Financials

USDP

Trailing 12 months to September 30, 2023

Revenue $72.3M -42.1% YoY

Net Income $594K +101.1% YoY

Free Cash Flow $6.5M -83.7% YoY

Operating Cash Flow $7.3M -82.4% YoY

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2023, ended Sep 30, 2023 Reported Nov 7, 2023 Currency USD FYE December

Newest figures come from the 10-Q for Q3 FY2023, filed Nov 7, 2023. Each column of the statement tables below links to the filing it was taken from.

USD PARTNERS LP (USDP) reported $72.3M in revenue over the twelve months to Sep 30, 2023, down 42.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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 USDP FY2022 2026-10-03

Positive operating cash flow masks a sharply weakened balance sheet, where liabilities overwhelm assets and reported profitability collapses.

The 2022 0.0x debt-to-equity ratio does not mean the business is lightly financed, because long-term debt is reported at $0. Total liabilities reached $239.2M against $126.8M of assets, so the ratio misses the larger obligation structure.

Revenue fell from $204.5M in FY2021 to $111.7M in FY2022, while the operating margin shifted from 12.7% to -53.5%. That combination suggests the reduced activity base could not absorb the business's cost structure or other operating charges.

The cash-conversion picture is unusual: FY2022 recorded a net loss of $61.3M but operating cash flow of $37.2M, implying noncash charges or working-capital release bridged the gap. Immediate liquidity nevertheless tightened, with the current ratio falling from 0.6x in FY2021 to 0.1x.

Financial Health Signals

Financial health score not available

USD PARTNERS LP does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

4/7

USD PARTNERS LP passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

N/A

USD PARTNERS LP reported a net loss of $61.3M while generating $37.2M 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

N/A

USD PARTNERS LP reported an operating loss of $59.7M against $10.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$11.1M

YoY-48.4%

QoQ-43.1%

5Y CAGR-17.8%

10Y CAGR+8.0%

USD PARTNERS LP generated $11.1M in revenue in Q3 2023. This represents a decrease of 48.4% from the same quarter a year earlier. Against the prior quarter it is down 43.1%.

EBITDA

$734K

YoY+101.1%

QoQ-88.1%

5Y CAGR-43.8%

USD PARTNERS LP's EBITDA was $734K in Q3 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 101.1% from the same quarter a year earlier. Against the prior quarter it is down 88.1%.

Net Income

-$2.8M

YoY+96.0%

QoQ-160.5%

USD PARTNERS LP reported -$2.8M in net income in Q3 2023. This represents an increase of 96.0% from the same quarter a year earlier. Against the prior quarter it is down 160.5%.

EPS (Diluted)

Not reported for Q3 2023.

Cash & Balance Sheet

Free Cash Flow

$594K

YoY-95.6%

QoQ+145.5%

5Y CAGR-45.5%

USD PARTNERS LP generated $594K in free cash flow in Q3 2023, representing cash available after capex. This represents a decrease of 95.6% from the same quarter a year earlier. Against the prior quarter it is up 145.5%.

Cash & Debt

$8.7M

YoY+82.3%

QoQ-15.6%

5Y CAGR+3.4%

10Y CAGR-4.2%

USD PARTNERS LP held $8.7M in cash against $0 in long-term debt as of Q3 2023, with $209.1M of liabilities due within a year.

Shares Outstanding

34M

YoY+1.2%

QoQ0.0%

USD PARTNERS LP had 34M shares outstanding in Q3 2023. This represents an increase of 1.2% from the same quarter a year earlier. It is unchanged from the prior quarter.

Dividends Per Share

Not reported for Q3 2023.

Margins & Returns

Operating Margin

-5.2%

QoQ-27.9pp

5Y change-31.7pp

10Y change-7.5pp

USD PARTNERS LP's operating margin was -5.2% in Q3 2023, reflecting core business profitability. Against the prior quarter it is down 27.9 percentage points. No change is given against Q3 2022: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

-25.3%

QoQ-49.1pp

5Y change-45.4pp

10Y change-31.7pp

USD PARTNERS LP's net profit margin was -25.3% in Q3 2023, showing the share of revenue converted to profit. Against the prior quarter it is down 49.1 percentage points. No change is given against Q3 2022: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Gross Margin

Not reported for Q3 2023.

Return on Equity

Not reported for Q3 2023.

Capital Allocation

Capital Expenditures

$274K

YoY+134.2%

5Y CAGR+2.6%

USD PARTNERS LP invested $274K in capex in Q3 2023, funding long-term assets and infrastructure. This represents an increase of 134.2% from the same quarter a year earlier.

R&D Spending

Not reported for Q3 2023.

Share Buybacks

Not reported for Q3 2023.

USDP Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

USDP quarterly income statement

Metric	TTM	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$72.3M	$111.7M-45.4%	$204.5M+20.2%	$170.1M+49.6%	$113.7M-4.7%	$119.2M+9.6%	$108.8M-3.9%	$113.2M+38.4%	$81.8M+126.5%	$36.1M+37.2%	$26.3M+5.7%	$24.9M
SG&A Expenses	N/A	$25.8M-63.5%	$70.7M+46.1%	$48.4M+156.7%	$18.8M+73.8%	$10.8M+17.6%	$9.2M-4.6%	$9.7M+25.9%	$7.7M+60.5%	$4.8M+224.1%	$1.5M-29.1%	$2.1M
Operating Income	$14.4M	-$59.7M-330.6%	$25.9M+561.2%	-$5.6M-127.2%	$20.6M-29.9%	$29.4M-0.1%	$29.5M-14.5%	$34.5M+53.5%	$22.5M+3370.5%	$647K-56.0%	$1.5M-53.1%	$3.1M
EBITDA	N/A	-$40.0M-181.6%	$49.1M+190.8%	$16.9M-59.2%	$41.3M-18.3%	$50.6M-2.0%	$51.6M-10.3%	$57.6M+101.5%	$28.6M+771.4%	$3.3M+66.3%	$2.0M-45.6%	$3.6M
Interest Expense	N/A	$10.7M+52.6%	$7.0M-30.7%	$10.1M-16.0%	$12.0M+5.7%	$11.4M+14.4%	$9.9M+0.8%	$9.8M+122.2%	$4.4M-8.7%	$4.9M+49.8%	$3.2M+58.1%	$2.0M
Income Tax	N/A	$1.3M+38.6%	$933K+176.9%	$337K-49.1%	$662K+124.8%	-$2.7M-38.4%	-$1.9M-681.0%	-$247K-104.3%	$5.8M+2994.1%	$186K+520.0%	$30K+15.4%	$26K
Net Income	$594K	-$61.3M-368.5%	$22.8M+218.2%	-$19.3M-396.3%	$6.5M-69.2%	$21.1M-0.9%	$21.3M-16.5%	$25.6M+44.4%	$17.7M+330.4%	-$7.7M-219.9%	$6.4M-98.6%	$460.6M

Metric	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q	Q4'2210-K	Q3'2210-Q	Q2'2210-Q	Q1'2210-Q	Q4'2110-K
Revenue	$11.1M-48.4%	$19.5M-42.3%	$21.1M-41.0%	$20.6M-39.1%	$21.5M-39.4%	$33.7M-63.1%	$35.8M-18.0%	$33.9M-58.2%
SG&A Expenses	$3.8M-23.4%	$4.2M-43.8%	$6.6M-24.7%	N/A	$5.0M-37.8%	$7.4M-82.5%	$8.7M+84.8%	N/A
Operating Income	-$579K+99.2%	$4.4M-15.1%	$8.0M+60.4%	$2.6M-46.1%	-$72.5M-1389.6%	$5.2M-43.1%	$5.0M-21.2%	$4.8M-52.2%
EBITDA	$734K+101.1%	$6.1M-44.0%	$9.9M-8.4%	$4.9M-54.1%	-$66.7M-680.6%	$11.0M-26.5%	$10.8M-8.3%	$10.6M-35.6%
Interest Expense	$4.9M+57.7%	$4.5M+113.6%	$4.4M+195.7%	N/A	$3.1M+99.5%	$2.1M+20.2%	$1.5M-13.4%	N/A
Income Tax	$561K+2.7%	$96K+557.1%	-$272K-156.7%	N/A	$546K+591.1%	-$21K-106.6%	$480K+114.3%	N/A
Net Income	-$2.8M+96.0%	$4.6M+21.8%	$2.0M-73.6%	-$3.2M-174.9%	-$69.4M-1778.0%	$3.8M-44.7%	$7.5M-0.7%	$4.3M-39.2%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

USDP Balance Sheet

USDP quarterly balance sheet

Metric	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$126.8M-48.7%	$247.0M-10.4%	$275.7M-4.8%	$289.6M+0.8%	$287.3M-4.6%	$301.0M+0.6%	$299.1M-8.9%	$328.4M+121.5%	$148.3M+92.1%	$77.2M	N/A
Current Assets	$13.3M-54.5%	$29.2M+37.5%	$21.3M+1.3%	$21.0M+0.1%	$21.0M-0.3%	$21.0M-39.1%	$34.6M-2.5%	$35.5M-42.3%	$61.5M+49.3%	$41.2M	N/A
Cash & Equivalents	$2.5M-54.3%	$5.5M-55.8%	$12.5M+306.9%	$3.1M-52.1%	$6.4M-18.2%	$7.9M-32.7%	$11.7M+11.5%	$10.5M-73.9%	$40.2M+554.3%	$6.2M+37.6%	$4.5M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$0-100.0%	$3.0M	$0	N/A	$241K	$0	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$2.2M-67.9%	$6.8M+67.1%	$4.0M-23.8%	$5.3M+3.5%	$5.1M+23.0%	$4.2M-3.5%	$4.3M-0.3%	$4.3M+2.7%	$4.2M+166.0%	$1.6M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$0	$0	$0-100.0%	$33.6M0.0%	$33.6M0.0%	$33.6M0.0%	$33.6M-1.1%	$34.0M	$0	N/A	N/A
Total Liabilities	$239.2M+6.2%	$225.2M-2.6%	$231.3M-6.9%	$248.5M+14.1%	$217.8M+0.8%	$216.1M-16.6%	$259.1M-7.0%	$278.6M+153.1%	$110.1M+5.2%	$104.7M	N/A
Current Liabilities	$230.9M+387.1%	$47.4M+155.8%	$18.5M-2.1%	$18.9M+64.2%	$11.5M+9.5%	$10.5M-71.7%	$37.2M+6.6%	$34.9M+34.0%	$26.0M-62.3%	$69.1M	N/A
Non-Current Liabilities	$8.2M-95.4%	$177.7M-16.4%	$212.7M-7.3%	$229.6M+11.3%	$206.3M+0.3%	$205.6M-7.4%	$222.0M-8.9%	$243.8M+190.0%	$84.0M+136.4%	$35.5M	N/A
Long-Term Debt	$0-100.0%	$167.4M-14.4%	$195.5M-10.2%	$217.7M+5.9%	$205.6M+2.5%	$200.6M-9.2%	$220.9M-7.7%	$239.4M+205.2%	$78.5M	N/A	N/A
Total Equity	-$112.4M-614.3%	$21.9M-50.8%	$44.4M+8.1%	$41.1M-40.9%	$69.5M-18.2%	$84.9M+112.4%	$40.0M-19.7%	$49.8M+30.3%	$38.2M+239.0%	-$27.5M	N/A

Metric	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q	Q4'2210-K	Q3'2210-Q	Q2'2210-Q	Q1'2210-Q	Q4'2110-K
Total Assets	$104.6M-24.5%	$106.2M-54.6%	$126.0M-43.9%	$126.8M-48.7%	$138.7M-44.1%	$233.8M-9.3%	$224.7M-3.5%	$247.0M-10.4%
Current Assets	$41.8M+137.0%	$40.4M+40.2%	$41.1M+27.5%	$13.3M-54.5%	$17.6M-20.4%	$28.8M+41.0%	$32.2M+54.3%	$29.2M+37.5%
Cash & Equivalents	$8.7M+82.3%	$10.3M+137.5%	$10.8M+141.1%	$2.5M-54.3%	$4.8M-16.5%	$4.3M-48.1%	$4.5M+46.7%	$5.5M-55.8%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	N/A	N/A	N/A	$0-100.0%	$0	$7.0M	$1.7M	$3.0M
Accounts Receivable	N/A	N/A	$1.7M-84.1%	$2.2M-67.9%	$2.2M-45.3%	$6.3M+27.6%	$10.8M+141.2%	$6.8M+67.1%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	N/A	N/A	$0	N/A	N/A	N/A	$0
Total Liabilities	$213.5M-13.0%	$211.7M-20.0%	$238.2M+19.4%	$239.2M+6.2%	$245.4M+19.6%	$264.6M+25.4%	$199.5M-9.9%	$225.2M-2.6%
Current Liabilities	$209.1M+990.5%	$205.0M+634.7%	$228.2M+633.5%	$230.9M+387.1%	$19.2M-8.8%	$27.9M+38.8%	$31.1M+58.7%	$47.4M+155.8%
Non-Current Liabilities	$4.4M-98.0%	$6.7M-97.2%	$10.0M-94.1%	$8.2M-95.4%	$226.3M+22.8%	$236.7M+24.0%	$168.3M-16.6%	$177.7M-16.4%
Long-Term Debt	$0-100.0%	$0-100.0%	$0-100.0%	$0-100.0%	$220.8M+27.6%	$230.5M+29.6%	$161.3M-14.1%	$167.4M-14.4%
Total Equity	-$108.9M-2.0%	-$105.5M-243.2%	-$112.2M-545.0%	-$112.4M-614.3%	-$106.8M-350.1%	-$30.7M-165.6%	$25.2M+122.0%	$21.9M-50.8%

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

USDP Cash Flow Statement

USDP quarterly cash flow statement

Metric	TTM	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$7.3M	$37.2M-35.7%	$57.9M+14.5%	$50.6M+31.6%	$38.4M-14.8%	$45.1M-5.6%	$47.8M-11.0%	$53.7M+48.4%	$36.2M+1273.5%	-$3.1M-133.4%	$9.2M+413.8%	$1.8M
Depreciation & Amortization	N/A	$19.6M-15.2%	$23.2M+3.1%	$22.5M+8.8%	$20.7M-2.1%	$21.1M-4.6%	$22.1M-4.2%	$23.1M+277.9%	$6.1M+132.2%	$2.6M+424.1%	$502K+2.4%	$490K
Stock-Based Compensation	N/A	$4.8M-15.0%	$5.7M-13.2%	$6.6M+8.2%	$6.1M-4.6%	$6.4M+53.5%	$4.1M+1.7%	$4.1M+65.5%	$2.5M+347.5%	$550K	$0	$0
Capital Expenditures	$712K	$468K-91.0%	$5.2M+62.4%	$3.2M-62.2%	$8.4M-4.3%	$8.8M-68.0%	$27.6M+5718.6%	$474K-71.6%	$1.7M-95.0%	$33.7M-39.9%	$56.1M+7159.2%	$773K
Free Cash Flow	$6.5M	$36.8M-30.2%	$52.7M+11.2%	$47.4M+57.9%	$30.0M-17.4%	$36.3M+79.4%	$20.2M-62.0%	$53.3M+54.2%	$34.5M+193.8%	-$36.8M+21.4%	-$46.9M-4673.2%	$1.0M
Investing Cash Flow	$31.9M	-$73.7M-1321.2%	-$5.2M-62.4%	-$3.2M+62.2%	-$8.4M+1.6%	-$8.6M+68.9%	-$27.6M-29555.9%	-$93K	N/A	N/A	N/A	N/A
Financing Cash Flow	-$35.4M	$28.8M+148.5%	-$59.3M-27.3%	-$46.6M-43.6%	-$32.4M+12.2%	-$36.9M-55.1%	-$23.8M+53.6%	-$51.3M	N/A	N/A	N/A	N/A

Metric	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q	Q4'2210-K	Q3'2210-Q	Q2'2210-Q	Q1'2210-Q	Q4'2110-K
Operating Cash Flow	$868K-93.6%	-$1.3M-121.0%	-$582K-106.3%	$8.3M-32.7%	$13.5M+53.1%	$6.2M-74.2%	$9.2M-27.0%	$12.3M-26.9%
Depreciation & Amortization	$1.3M-77.2%	$1.7M-70.1%	$1.9M-67.4%	$2.3M-60.6%	$5.8M-1.9%	$5.8M-0.1%	$5.8M+6.7%	$5.8M-9.9%
Stock-Based Compensation	N/A	N/A	$1.0M-16.5%	N/A	N/A	N/A	$1.2M-18.2%	N/A
Capital Expenditures	$274K+134.2%	$0-100.0%	$375K+87.5%	$63K-90.1%	$117K-92.3%	$88K-96.6%	$200K-58.6%	$637K-77.2%
Free Cash Flow	$594K-95.6%	-$1.3M-121.3%	-$957K-110.6%	$8.2M-29.6%	$13.4M+83.1%	$6.1M-71.6%	$9.0M-25.7%	$11.7M-16.8%
Investing Cash Flow	-$266K-116.1%	-$55K+99.9%	$32.3M+16237.5%	-$88K+86.2%	$1.7M+209.5%	-$75.1M-2840.0%	-$200K+58.6%	-$637K+77.2%
Financing Cash Flow	-$2.0M+86.0%	-$19.1M-129.3%	-$3.0M+72.6%	-$11.3M+6.5%	-$14.3M-52.3%	$65.3M+353.7%	-$11.0M+8.8%	-$12.1M+27.9%

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

USDP Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

USDP quarterly financial ratios

Metric	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Margin	-53.4%-66.1pp	12.7%+16.0pp	-3.3%-21.4pp	18.1%-6.6pp	24.7%-2.4pp	27.1%-3.4pp	30.4%+3.0pp	27.5%+25.7pp	1.8%-3.8pp	5.6%-7.0pp	12.6%
Net Margin	-54.9%-66.1pp	11.2%+22.5pp	-11.3%-17.1pp	5.7%-12.0pp	17.7%-1.9pp	19.6%-3.0pp	22.6%+0.9pp	21.6%+42.9pp	-21.3%-45.6pp	24.3%	1851.6%
Return on Equity	N/A	104.5%+148.0pp	-43.5%-59.4pp	15.9%-14.6pp	30.4%+5.3pp	25.1%-38.8pp	63.9%+28.4pp	35.6%+55.7pp	-20.1%	N/A	N/A
Return on Assets	-48.3%-57.6pp	9.2%+16.2pp	-7.0%-9.3pp	2.3%-5.1pp	7.4%+0.3pp	7.1%-1.4pp	8.5%+3.1pp	5.4%+10.6pp	-5.2%-13.5pp	8.3%	N/A
Current Ratio	0.06-0.6x	0.62-0.5x	1.150.0x	1.11-0.7x	1.82-0.2x	2.00+1.1x	0.93-0.1x	1.02-1.3x	2.36+1.8x	0.60	N/A
Debt-to-Equity	N/A	7.66+3.3x	4.40-0.9x	5.30+2.3x	2.96+0.6x	2.36-3.2x	5.53+0.7x	4.81+2.8x	2.05	N/A	N/A
Asset Turnover	0.88+0.1x	0.83+0.2x	0.62+0.2x	0.390.0x	0.41+0.1x	0.360.0x	0.38+0.1x	0.250.0x	0.24-0.1x	0.34	N/A
FCF Margin	32.9%+7.2pp	25.8%-2.1pp	27.9%+1.5pp	26.4%-4.1pp	30.5%+11.9pp	18.6%-28.5pp	47.1%+4.8pp	42.2%	-102.0%	-178.2%	4.1%

Metric	Q3'2310-Q	Q2'2310-Q	Q1'2310-Q	Q4'2210-K	Q3'2210-Q	Q2'2210-Q	Q1'2210-Q	Q4'2110-K
Operating Margin	-5.2%	22.7%+7.3pp	37.9%+24.0pp	12.5%-1.6pp	-337.4%	15.4%+5.4pp	14.0%-0.6pp	14.1%+1.8pp
Net Margin	-25.3%	23.8%+12.5pp	9.3%-11.5pp	-15.6%-28.2pp	-322.9%	11.3%+3.8pp	20.9%+3.6pp	12.6%+4.0pp
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	29.6%-36.6pp	19.6%+3.7pp
Return on Assets	-2.7%+47.3pp	4.4%+2.7pp	1.6%-1.8pp	-2.5%-4.3pp	-50.0%-51.7pp	1.6%-1.0pp	3.3%+0.1pp	1.7%-0.8pp
Current Ratio	0.20-0.7x	0.20-0.8x	0.18-0.9x	0.06-0.6x	0.92-0.1x	1.030.0x	1.040.0x	0.62-0.5x
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	6.40-10.1x	7.66+3.3x
Asset Turnover	0.110.0x	0.180.0x	0.170.0x	0.160.0x	0.150.0x	0.14-0.2x	0.160.0x	0.14-0.2x
FCF Margin	5.4%-57.0pp	-6.7%-24.9pp	-4.5%-29.8pp	39.8%+5.4pp	62.4%+41.8pp	18.2%-5.4pp	25.2%-2.6pp	34.4%+17.1pp

Not reported in any period shown, so not listed: Gross Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.

Note: Shareholder equity is negative (-$112.4M), 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.

Note: The current ratio is below 1.0 (0.06), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
USD PARTNERS LP USDP	FY2022	$111.7M	-$61.3M	-54.9%	$7K	—
BELISS CORP BLIS	FY2026	$1.4M	-$2.9M	N/A	$4.5M	—
SPARX HLDGS GROUP INC SHGI	FY2023	N/A	-$48K	N/A	$58K	—
BLUE LINE PROTECTION GRP BLPG	FY2024	$4.4M	$242K	5.5%	$280K	—

Where USD PARTNERS LP Ranks

Frequently Asked Questions

What is USD PARTNERS LP's annual revenue?

USD PARTNERS LP (USDP) reported $111.7M in total revenue for fiscal year 2022. This represents a -45.4% 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 USD PARTNERS LP's revenue growing?

USD PARTNERS LP (USDP) revenue declined by 45.4% year-over-year, from $204.5M to $111.7M in fiscal year 2022.

Is USD PARTNERS LP profitable?

No, USD PARTNERS LP (USDP) reported a net income of -$61.3M in fiscal year 2022, with a net profit margin of -54.9%.

What is USD PARTNERS LP's EBITDA?

USD PARTNERS LP (USDP) had EBITDA of -$40.0M in fiscal year 2022, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does USD PARTNERS LP have?

As of fiscal year 2022, USD PARTNERS LP (USDP) had $2.5M in cash and equivalents against $0 in long-term debt.

What is USD PARTNERS LP's operating margin?

USD PARTNERS LP (USDP) had an operating margin of -53.4% in fiscal year 2022, reflecting the profitability of core business operations before interest and taxes.

What is USD PARTNERS LP's net profit margin?

USD PARTNERS LP (USDP) had a net profit margin of -54.9% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.

What is USD PARTNERS LP's free cash flow?

USD PARTNERS LP (USDP) generated $36.8M in free cash flow during fiscal year 2022. This represents a -30.2% 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 USD PARTNERS LP's operating cash flow?

USD PARTNERS LP (USDP) generated $37.2M in operating cash flow during fiscal year 2022, representing cash generated from core business activities.

What are USD PARTNERS LP's total assets?

USD PARTNERS LP (USDP) had $126.8M in total assets as of fiscal year 2022, including both current and long-term assets.

What are USD PARTNERS LP's capital expenditures?

USD PARTNERS LP (USDP) invested $468K in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.

How many shares does USD PARTNERS LP have outstanding?

USD PARTNERS LP (USDP) had 34M shares outstanding as of fiscal year 2022.

What is USD PARTNERS LP's current ratio?

USD PARTNERS LP (USDP) had a current ratio of 0.06 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.

What is USD PARTNERS LP's return on assets (ROA)?

USD PARTNERS LP (USDP) had a return on assets of -48.3% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.

Why is USD PARTNERS LP's debt-to-equity ratio negative or not reported?

USD PARTNERS LP (USDP) has negative shareholder equity of -$112.4M as of fiscal year 2022, 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 USD PARTNERS LP's Piotroski F-Score?

USD PARTNERS LP (USDP) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 USD PARTNERS LP's earnings high quality?

USD PARTNERS LP (USDP) reported a net loss of $61.3M while generating $37.2M 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 USD PARTNERS LP cover its interest payments?

USD PARTNERS LP (USDP) reported an operating loss of $59.7M against $10.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.