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Martin Midstream Partners LP (MMLP)



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Upturn Advisory Summary
10/10/2025: MMLP (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $4
1 Year Target Price $4
0 | Strong Buy |
0 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -5.1% | Avg. Invested days 38 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 119.12M USD | Price to earnings Ratio - | 1Y Target Price 4 |
Price to earnings Ratio - | 1Y Target Price 4 | ||
Volume (30-day avg) 1 | Beta 0.55 | 52 Weeks Range 2.55 - 4.00 | Updated Date 10/12/2025 |
52 Weeks Range 2.55 - 4.00 | Updated Date 10/12/2025 | ||
Dividends yield (FY) 0.64% | Basic EPS (TTM) -0.4 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-10-15 | When After Market | Estimate -0.02 | Actual - |
Profitability
Profit Margin -2.15% | Operating Margin (TTM) 7.9% |
Management Effectiveness
Return on Assets (TTM) 5.62% | Return on Equity (TTM) - |
Valuation
Trailing PE - | Forward PE 22.62 | Enterprise Value 615937520 | Price to Sales(TTM) 0.17 |
Enterprise Value 615937520 | Price to Sales(TTM) 0.17 | ||
Enterprise Value to Revenue 0.86 | Enterprise Value to EBITDA 6.47 | Shares Outstanding 39055086 | Shares Floating 31751004 |
Shares Outstanding 39055086 | Shares Floating 31751004 | ||
Percent Insiders 31.72 | Percent Institutions 43.68 |
Upturn AI SWOT
Martin Midstream Partners LP
Company Overview
History and Background
Martin Midstream Partners L.P. (MMLP) was formed in 2002 by Martin Resource Management Corporation. Initially focused on terminalling, storage, and transportation of petroleum products and by-products, it has evolved to include specialized logistics services. Significant milestones include expansions of its terminalling and storage facilities and strategic acquisitions to broaden its service offerings. The company has faced financial restructuring in recent years.
Core Business Areas
- Terminalling and Storage: Provides storage, processing, blending, and distribution services for petroleum products and by-products. Includes marine and inland terminals.
- Transportation: Offers transportation services for petroleum products, crude oil, and chemicals via barges and trucks.
- Sulfur Services: Focuses on the marketing, processing, and distribution of sulfur and sulfur-based products.
- Natural Gas Services: Includes natural gas liquids (NGL) storage, fractionation, and transportation.
Leadership and Structure
Ruben S. Martin III is the President and CEO. The company operates as a master limited partnership (MLP) with a board of directors overseeing management.
Top Products and Market Share
Key Offerings
- Terminalling and Storage Services: Provides storage solutions for refined products, crude oil, and specialty chemicals. Market share data is difficult to ascertain precisely for MMLP's niche services; competitors include larger terminal operators like Kinder Morgan (KMI) and Magellan Midstream Partners (MMP).
- Sulfur-Based Products: Markets and distributes sulfur and sulfur-based products used in agriculture and industrial applications. Market share is dependent on geographic location and customer base. Competitors include other sulfur producers and distributors, such as Nutrien (NTR) and Mosaic (MOS).
Market Dynamics
Industry Overview
The midstream energy sector involves the transportation, storage, and processing of crude oil, natural gas, and refined products. It is heavily influenced by energy prices, regulatory changes, and infrastructure development.
Positioning
Martin Midstream Partners L.P. operates in a niche segment of the midstream sector, focusing on specialized services and smaller-scale operations. Its competitive advantages include its strategic asset locations and established customer relationships.
Total Addressable Market (TAM)
The overall TAM for midstream services is in the hundreds of billions of dollars annually. Martin Midstream Partners LP holds a smaller position focused on sulfur and niche terminalling services within this TAM.
Upturn SWOT Analysis
Strengths
- Strategic asset locations
- Established customer relationships
- Specialized service offerings (sulfur services)
- Experienced management team
Weaknesses
- High debt levels
- Limited financial flexibility
- Small market capitalization
- Dependence on specific geographic regions
Opportunities
- Expanding infrastructure development in key regions
- Increasing demand for specialized terminalling services
- Strategic acquisitions to expand service offerings
- Improving energy market conditions
Threats
- Fluctuations in energy prices
- Regulatory changes impacting the midstream sector
- Increased competition from larger players
- Economic downturn impacting demand for energy products
Competitors and Market Share
Key Competitors
- Kinder Morgan (KMI)
- Magellan Midstream Partners (MMP)
- Nutrien (NTR)
- Mosaic (MOS)
Competitive Landscape
Martin Midstream Partners L.P. faces significant competition from larger, more financially stable players in the midstream sector. Its success depends on its ability to maintain customer relationships and operate efficiently in its niche markets.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been inconsistent, with periods of expansion followed by financial challenges.
Future Projections: Future projections are speculative due to the company's current state and lack of public financial data.
Recent Initiatives: Recent initiatives likely focused on debt restructuring and operational improvements to stabilize the business.
Summary
Martin Midstream Partners L.P. has experienced financial difficulties and has since been delisted, resulting in its high debt. Its core business in terminalling and sulfur services could be promising. To survive, MMLP needs to undergo significant restructuring, improve its balance sheet, and navigate a competitive energy market landscape. The company's long-term viability remains uncertain without more recent financial data and strategic direction.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings (historical)
- Industry reports
- Financial news sources
- Market research reports
Disclaimers:
The information provided is based on available public data and industry knowledge. Due to the company's financial situation and delisting, some data may be outdated or unavailable. This analysis is not financial advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Martin Midstream Partners LP
Exchange NASDAQ | Headquaters Kilgore, TX, United States | ||
IPO Launch date 2002-11-01 | President, CEO & Director of Martin Midstream GP LLC Mr. Robert D. Bondurant CPA | ||
Sector Energy | Industry Oil & Gas Midstream | Full time employees - | Website https://mmlp.com |
Full time employees - | Website https://mmlp.com |
Martin Midstream Partners L.P., together with its subsidiaries, provides terminalling, processing, storage, and packaging services for petroleum products and by-products in the United States. It operates in 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 that provide storage, refining, and handling services for producers and suppliers of petroleum products and by-products, as well as refining of naphthenic crude oil; and offers land rental services to oil and gas companies and storage and handling services for lubricants and fuels. It also operates a fleet of land transportation and marine transportation assets that transport petroleum products and by-products, petrochemicals, and chemicals; and provides refinery and petrochemical services, including transportation of heavy tank bottoms by-products and other petroleum products, hauling natural gas liquids, molten sulfur, sulfuric acid, paper mill liquids, chemicals, and numerous other bulk liquid commodities. In addition, the company processes molten sulfur into prilled or pelletized sulfur; and purchase and sell molten sulfur; and stores, distributes, sells, and transports natural gas liquids for wholesale deliveries, industrial natural gas liquid users, and propane retailers. Martin Midstream Partners L.P. was founded in 1951 and is based in Kilgore, Texas.

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