Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

USD Partners

DB:2UP
Snowflake Description

Fair value with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2UP
DB
$75M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The last earnings update was 25 days ago. More info.


Add to Portfolio Compare Print
  • USD Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • USD Partners has significant price volatility in the past 3 months.
2UP Share Price and Events
7 Day Returns
-11.1%
DB:2UP
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-72.3%
DB:2UP
21.9%
DE Oil and Gas
-17.7%
DE Market
2UP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
USD Partners (2UP) -11.1% -66.1% -69.7% -72.3% -77.1% -79.8%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • 2UP underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • 2UP underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
2UP
Industry
5yr Volatility vs Market

2UP Value

 Is USD Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of USD Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for USD Partners.

DB:2UP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:2UP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 21%) (305.89%))
2.18
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:2UP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for USD Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:2UP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 20.67 Est @ -12.07% 18.71
2021 18.90 Est @ -8.57% 15.48
2022 17.75 Est @ -6.11% 13.16
2023 16.97 Est @ -4.4% 11.38
2024 16.42 Est @ -3.19% 9.97
2025 16.04 Est @ -2.35% 8.81
2026 15.75 Est @ -1.76% 7.84
2027 15.54 Est @ -1.35% 7.00
2028 15.38 Est @ -1.06% 6.27
2029 15.24 Est @ -0.86% 5.62
Present value of next 10 years cash flows $104.00
DB:2UP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $15.24 × (1 + -0.39%) ÷ (10.49% – -0.39%)
$139.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $139.56 ÷ (1 + 10.49%)10
$51.47
DB:2UP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $104.00 + $51.47
$155.47
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $155.47 / 27.30
$5.69
DB:2UP Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:2UP represents 0.94601x of NYSE:USDP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.94601x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 5.69 x 0.94601
€5.39
Value per share (EUR) From above. €5.39
Current discount Discount to share price of €2.61
= -1 x (€2.61 - €5.39) / €5.39
51.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price USD Partners is available for.
Intrinsic value
>50%
Share price is €2.61 vs Future cash flow value of €5.39
Current Discount Checks
For USD Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • USD Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • USD Partners's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for USD Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are USD Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:2UP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.19
NYSE:USDP Share Price ** NYSE (2020-03-30) in USD $2.76
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of USD Partners.

DB:2UP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:USDP Share Price ÷ EPS (both in USD)

= 2.76 ÷ 0.19

14.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • USD Partners is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • USD Partners is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does USD Partners's expected growth come at a high price?
Raw Data
DB:2UP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for USD Partners, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on USD Partners's assets?
Raw Data
DB:2UP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $1.42
NYSE:USDP Share Price * NYSE (2020-03-30) in USD $2.76
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:2UP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:USDP Share Price ÷ Book Value per Share (both in USD)

= 2.76 ÷ 1.42

1.94x

* Primary Listing of USD Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • USD Partners is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess USD Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. USD Partners has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

2UP Future Performance

 How is USD Partners expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as USD Partners has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13%
Expected Oil and Gas industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is USD Partners expected to grow at an attractive rate?
  • Unable to compare USD Partners's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare USD Partners's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare USD Partners's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:2UP Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:2UP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:2UP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
DB:2UP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 112 38 5
2019-09-30 111 47 5
2019-06-30 111 45 9
2019-03-31 113 47 15
2018-12-31 116 45 20
2018-09-30 113 42 21
2018-06-30 110 45 20
2018-03-31 108 43 22
2017-12-31 108 48 21
2017-09-30 109 54 22
2017-06-30 110 53 30
2017-03-31 111 57 27

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if USD Partners is high growth as no earnings estimate data is available.
  • Unable to determine if USD Partners is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:2UP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from USD Partners Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2UP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
DB:2UP Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.19
2019-09-30 0.19
2019-06-30 0.34
2019-03-31 0.55
2018-12-31 0.75
2018-09-30 0.79
2018-06-30 0.77
2018-03-31 0.86
2017-12-31 0.83
2017-09-30 0.92
2017-06-30 1.27
2017-03-31 1.14

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if USD Partners will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether USD Partners is trading at USD Partners'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. USD Partners's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Energy companies here
  3. USD Partners's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess USD Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
USD Partners has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

2UP Past Performance

  How has USD Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare USD Partners's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • USD Partners's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • USD Partners's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • USD Partners's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
USD Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from USD Partners Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2UP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 111.81 5.04 34.76
2019-09-30 110.97 5.15 28.10
2019-06-30 110.62 8.98 25.84
2019-03-31 112.91 14.70 25.26
2018-12-31 115.63 19.95 29.62
2018-09-30 112.62 20.85 26.15
2018-06-30 110.43 20.26 23.56
2018-03-31 108.50 22.20 21.04
2017-12-31 108.28 20.75 25.20
2017-09-30 109.00 22.39 17.40
2017-06-30 110.24 29.84 17.64
2017-03-31 110.89 26.53 17.59
2016-12-31 111.21 25.05 18.39
2016-09-30 107.46 26.36 17.78
2016-06-30 100.95 19.98 16.76
2016-03-31 93.26 17.45 15.80
2015-12-31 79.80 17.34 14.44
2015-09-30 65.80 9.57 14.18
2015-06-30 56.85 2.19 13.73
2015-03-31 41.80 -4.61 12.79
2014-12-31 33.49 -7.52 10.81
2014-09-30 25.99 -6.69 7.60
2014-06-30 18.29 -6.28 6.23
2014-03-31 18.33 -2.65 4.89
2013-12-31 21.90 -1.84 4.46

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • USD Partners has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • USD Partners used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • USD Partners's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess USD Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
USD Partners has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

2UP Health

 How is USD Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up USD Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • USD Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • USD Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of USD Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from USD Partners Company Filings, last reported 2 months ago.

DB:2UP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 41.06 218.48 3.08
2019-09-30 47.08 214.82 6.48
2019-06-30 54.69 214.39 7.17
2019-03-31 61.54 204.15 3.07
2018-12-31 69.46 205.58 6.44
2018-09-30 78.78 200.25 7.36
2018-06-30 77.12 204.06 8.93
2018-03-31 79.85 201.84 6.36
2017-12-31 84.89 200.63 7.87
2017-09-30 79.89 199.41 7.83
2017-06-30 80.31 204.20 7.20
2017-03-31 44.10 209.98 4.18
2016-12-31 46.82 220.89 11.71
2016-09-30 51.22 226.80 9.84
2016-06-30 45.04 233.91 9.90
2016-03-31 46.30 238.38 8.59
2015-12-31 49.76 239.44 10.50
2015-09-30 33.81 66.92 41.07
2015-06-30 35.45 72.39 37.89
2015-03-31 38.47 72.92 37.98
2014-12-31 38.20 78.46 40.25
2014-09-30 9.71 97.85 28.16
2014-06-30 50.07 100.00 71.61
2014-03-31 -22.34 97.03 11.08
2013-12-31 2.60 80.99 6.15
  • USD Partners's level of debt (532.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (205.2% vs 532.1% today).
  • Debt is not well covered by operating cash flow (17.6%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess USD Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. USD Partners has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

2UP Dividends

 What is USD Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
53.62%
Current annual income from USD Partners dividends.
If you bought €2,000 of USD Partners shares you are expected to receive €1,072 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • USD Partners's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • USD Partners's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:2UP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:2UP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
DB:2UP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-30 1.480 26.728
2019-10-24 1.470 14.729
2019-07-24 1.460 14.007
2019-04-26 1.450 13.019
2019-01-31 1.440 13.036
2018-10-25 1.430 13.508
2018-07-27 1.420 14.150
2018-04-26 1.410 12.969
2018-02-01 1.400 12.788
2017-11-08 1.380 12.771
2017-07-27 1.360 12.540
2017-04-27 1.340 10.873
2017-02-01 1.320 9.851
2016-10-27 1.290 8.897
2016-07-28 1.260 10.247
2016-04-28 1.230 12.177
2016-02-04 1.200 15.695
2015-10-29 1.170 15.399
2015-07-30 1.160 11.989
2015-04-28 1.150 9.120
2015-01-29 1.150 8.591

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, USD Partners has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but USD Partners only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of USD Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess USD Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can USD Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. USD Partners has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

2UP Management

 What is the CEO of USD Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dan Borgen
COMPENSATION $1,817,896
AGE 58
TENURE AS CEO 5.8 years
CEO Bio

Mr. Daniel K. Borgen, also known as Dan, serves as the Chairman of USD Partners GP LLC- General Partner of USD Partners LP. Mr. Borgen has been the Chief Executive Officer and President of USD Partners GP LLC- General Partner of USD Partners LP since June 2014. He serves as the Chief Executive Officer, President and Chairman of U.S. Development Group, LLC. (AKA USD Group LLC). At USD, he guides all senior aspects of USD's corporate activities. He serves as a Member of Advisory Board at ZT Corporate. He is a Co-Founder of USD and its predecessor companies. Mr. Borgen worked for many years in investment banking in mergers and acquisitions, portfolio management and strategic planning. He began his career with a private investment firm focused on the oil and gas industry. He served as President of U.S. Right-of-Way Corporation since June 1993. He served for many years as an Investment Banker as Merger & Acquisition Director and Portfolio Manager. His activities were focused on manufacturing, food service, oil and gas Exploration/production, telecommunications, banking and Western European finance. He was an Investment Banker. Mr. Borgen served as Vice President of The Oxford Group from July 1990 to June 1993. He served as Vice President and Principal of The Paramount Companies from July 1985 to April 1990. He served as Manager of Investor Relations at Invoil Inc., from April 1982 to June 1985. He serves as the Chairman of the USD Foundation and a Trustee of Boys and Girls Club of America. He has been an Independent Director of Vertex Energy, Inc., since June 2008. He was recognized by Goldman Sachs as one of 100 Most Intriguing Entrepreneurs in 2013. He is a finalist for Ernst and Young's 2014 Gulf Coast Entrepreneur of the Year. He was active in several community organizations. Mr. Borgen received a Degree in Petroleum Management and Finance from the University of Oklahoma.

CEO Compensation
  • Dan's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dan's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the USD Partners management team in years:

4.1
Average Tenure
46
Average Age
  • The tenure for the USD Partners management team is about average.
Management Team

Dan Borgen

TITLE
Chairman
COMPENSATION
$2M
AGE
58
TENURE
5.8 yrs

Adam Altsuler

TITLE
Senior VP
COMPENSATION
$789K
AGE
45
TENURE
5.8 yrs

Keith Benson

TITLE
General Counsel of USD Partners GP LLC
COMPENSATION
$579K
AGE
46
TENURE
5 yrs

Josh Ruple

TITLE
Senior VP & COO of USD Partners GP LLC
AGE
38
TENURE
3.2 yrs

M. Stanford

TITLE
Principal Accounting Officer of USD Partners GP LLC
AGE
55
TENURE
2.2 yrs

Jennifer Waller

TITLE
Associate Director of Financial Reporting and Investor Relations
TENURE
1.5 yrs
Board of Directors Tenure

Average tenure and age of the USD Partners board of directors in years:

5.4
Average Tenure
58
Average Age
  • The tenure for the USD Partners board of directors is about average.
Board of Directors

Jeff Wood

TITLE
Independent Director of USD Partners GP LLC
COMPENSATION
$205K
AGE
48
TENURE
5.2 yrs

Dan Borgen

TITLE
Chairman
COMPENSATION
$2M
AGE
58
TENURE
5.4 yrs

Mike Curry

TITLE
Director of USD Partners GP LLC
AGE
65
TENURE
5.8 yrs

Doug Kimmelman

TITLE
Director of USD Partners GP LLC
AGE
59
TENURE
5.4 yrs

Tom Lane

TITLE
Director of USD Partners GP LLC
AGE
62
TENURE
5.4 yrs

Jane O’Hagan

TITLE
Independent Director of USD Partners GP LLC
COMPENSATION
$205K
AGE
55
TENURE
5.4 yrs

Brad Sanders

TITLE
Director of USD Partners GP LLC
AGE
62
TENURE
5.4 yrs

G. Smith

TITLE
Independent Director of USD Partners GP LLC
COMPENSATION
$205K
AGE
50
TENURE
4.4 yrs

Schuyler Coppedge

TITLE
Director of USD Partners Gp Llc
AGE
45
TENURE
3.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by USD Partners individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
20. Mar 20 Buy KKB Holdings LLC Company 20. Mar 20 20. Mar 20 17,950 €4.27 €76,650
19. Mar 20 Buy KKB Holdings LLC Company 19. Mar 20 19. Mar 20 26,853 €3.77 €101,304
19. Mar 20 Buy Mike Curry Individual 19. Mar 20 19. Mar 20 20,000 €3.85 €76,945
20. Mar 20 Buy Mike Curry Individual 20. Mar 20 20. Mar 20 12,098 €4.47 €54,035
X
Management checks
We assess USD Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. USD Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

2UP News

Simply Wall St News

2UP Company Info

Description

USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The company operates through two segments, Terminalling Services and Fleet Services. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and terminals in San Antonio, Texas and West Colton, California, which are unit train-capable destination terminals that transload ethanol received by rail from producers onto trucks. The Fleet Services segment provides railcars and fleet services related to the transportation of liquid hydrocarbons and biofuels. As of December 31, 2018, it operated a fleet of 1,683 railcars, including 1,308 coiled and insulated railcars, and 375 non-coiled and non-insulated railcars. USD Partners GP LLC serves as the general partner of the company. The company was founded in 2014 and is headquartered in Houston, Texas.

Details
Name: USD Partners LP
2UP
Exchange: DB
Founded: 2014
$68,304,256
27,303,529
Website: http://www.usdpartners.com
Address: USD Partners LP
811 Main Street,
Suite 2800,
Houston,
Texas, 77002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE USDP Common Units New York Stock Exchange US USD 10. Oct 2014
DB 2UP Common Units Deutsche Boerse AG DE EUR 10. Oct 2014
Number of employees
Current staff
Staff numbers
0
USD Partners employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 23:36
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2019/03/07
Last earnings filing: 2020/03/05
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.