Martin Midstream Partners LP(MMLP)

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EXPLORE ADVISORIES AND THEIR HISTORY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$2.05
10/20/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Stock price based on last close iconStock price based on last close
Simulated performance—not actual client returns. Excludes advisory subscription fees, trading commissions, and taxes, which would reduce returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for full methodology, assumptions, and limitations.

Advisory Performance History (Simulated)Advisory Performance History info

Simulated performance—not actual client returns. Excludes advisory subscription fees, trading commissions, and taxes, which would reduce returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for full methodology, assumptions, and limitations.

Upturn Advisory & Investor View for MMLP

10/20/2026: MMLP (1-star) is currently NOT-A-BUY. Pass it for now.

Martin Midstream Partners LP is a specialized midstream energy firm focusing on storage, transportation, and sulfur-based chemical logistics. Its primary strength lies in its niche positioning within Gulf Coast energy infrastructure, providing essential services to industrial and agricultural customers. The current investment story revolves around a disciplined effort to reduce debt and improve financial stability by divesting non-core assets. However, the company faces significant risks related to high leverage, potential refinancing difficulties, and intense competition from larger midstream operators. Given its financial profile, the stock is better suited for investors comfortable with sector-specific volatility who are monitoring the firm's progress in improving its credit metrics.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorWeak fitThe company is currently focused on debt reduction and stability rather than aggressive asset expansion.
Momentum investorWeak fitThe stock lacks the consistent positive price momentum required for this style.
Value investorMixed fitThe valuation may reflect distressed fundamentals, requiring careful analysis of the debt situation.
Dividend investorWeak fitHistorical distribution volatility and current focus on debt repayment limit immediate income appeal.
Low-risk investorWeak fitHigh leverage and midstream sector sensitivity make this unsuitable for risk-averse investors.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighCommodity price swings impact the volume of products moved and stored by the company.
Valuation riskMedium / highMarket pricing is heavily influenced by the company's high leverage and debt maturity profile.
Competition risk (logistics)MediumThe company faces stiff competition from larger, better-capitalized midstream operators.
Business qualityMediumWhile the asset base is strategic, the financial structure poses ongoing operational constraints.
Dividend incomeHighDistributions have been highly variable, undermining the reliability of income for investors.
Execution riskMedium / highSuccessful deleveraging is critical for the long-term viability of the partnership.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit -25.77%
Avg. Invested days 38
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 1.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 10/20/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
MMLP receives a 3-star rating based on the available scored pillars. The rating is constrained by soft unit economics, and weak price momentum.

Company Fundamentals

★★★★★
MMLP has moderate overall fundamentals (3 stars), with moderate financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-184.6%), soft cash generation (FCF margin 3.0%), moderate revenue growth (+1.2%).

Financial Health Rating

★★★★★
MMLP's financial health is supported by moderate cash strength, including free-cash-flow generation (3.0% of revenue). Profitability is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Free-cash-flow growth is MMLP's strongest growth driver at +236.7% FY2025 versus FY2024 (strong, 5 stars). By comparison, while revenue growth (+1.2%, moderate) and earnings growth (-184.6%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 41.7% and approximately 67.6% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 34.95% supports management-shareholder alignment.

Top 5 Institutional Investors

Amvescap Plc. 18.44%
Nomura Holdings Inc 9.11%
Barclays PLC 3.83%
KIM, LLC 2.56%
Blackstone Inc 2.38%

Unit Economics (Per $1K Revenue)

★★★★★
MMLP generates approximately $124 of gross profit, $65 of operating income, and $30 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Weak margins explain the 2-star rating, with weak cash conversion and solid capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: -47.85% (Tax Credit)

Quantitative Style Profile

★★★★★
MMLP has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 78.64M USD
Price to earnings Ratio -
1Y Target Price 3
Price to earnings Ratio -
1Y Target Price 3
Volume (30-day avg) 21.1K shares
Beta 0.51
52 Weeks Range 1.76 - 3.23
Updated Date 10/20/2026
52 Weeks Range 1.76 - 3.23
Updated Date 10/20/2026
Dividends yield (FY) 0.98%
Basic EPS (TTM) -0.38

How Company Makes Money

Business areaWhat it includesRetail investor read
TerminallingStorage fees for petroleum and chemical products.They act like a landlord for energy products, collecting steady fees for storage.
Sulfur ServicesProcessing and logistics for sulfur and sulfuric acid.Revenue is linked to industrial and agricultural demand for sulfur products.
TransportationBarge and truck fees for moving energy liquids.This is a logistics business moving energy products from A to B for a fee.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE 22.62
Enterprise Value 604.14M
Price to Sales(TTM) 0.11
Enterprise Value 604.14M
Price to Sales(TTM) 0.11
Enterprise Value to Revenue 0.81
Enterprise Value to EBITDA 6.47
Shares Outstanding 39.12M
Shares Floating 26.45M
Shares Outstanding 39.12M
Shares Floating 26.45M
Percent Insiders 34.95
Percent Institutions 41.74

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

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