MeritValue

NGL Energy Partners LP

NGLdata completeness 75%15 fiscal years on file

Data notes: no data for concept 'stockholdersEquity'

i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025FY 2026
Revenue$7.95B1$5.68B2$4.15B3$3.47B3$3.16B3
Net income−$184.8M4$51.4M5−$143.8M6$39.4M6−$142.3M6
Operating cash flow$205.8M7$445.2M8$376.2M9$297.5M9$366M9
Capital expenditure$142.4M10$147.8M11$152.3M12$245.8M12$221.3M12
Free cash flow (derived)$63.5M7$297.4M8$223.9M9$51.6M9$144.7M9
Total debt$6.71B13$5.72B14$5.7B15$5.94B16$6.47B16
Cash & equivalents$3.82M17$5.43M18$38.9M19$5.65M20$8.51M20
Diluted shares—————

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 5y

Total debt has held roughly steady.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
no diluted share count — cannot compute per-share value
DCF · Growth Exit 5Y
not applicable
no diluted share count — cannot compute per-share value
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2022-03-31 · accession 0001504461-24-000013 (Revenues)
  2. 10-K · period ending 2023-03-31 · accession 0001504461-25-000014 (Revenues)
  3. 10-K · period ending 2024-03-31 · accession 0001504461-26-000012 (Revenues)
  4. 10-K · period ending 2022-03-31 · accession 0001504461-24-000013 (NetIncomeLoss)
  5. 10-K · period ending 2023-03-31 · accession 0001504461-25-000014 (NetIncomeLoss)
  6. 10-K · period ending 2024-03-31 · accession 0001504461-26-000012 (NetIncomeLoss)
  7. 10-K · period ending 2022-03-31 · accession 0001504461-24-000013 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2023-03-31 · accession 0001504461-25-000014 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-03-31 · accession 0001504461-26-000012 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-03-31 · accession 0001504461-24-000013 (PaymentsToAcquireProductiveAssets)
  11. 10-K · period ending 2023-03-31 · accession 0001504461-25-000014 (PaymentsToAcquireProductiveAssets)
  12. 10-K · period ending 2024-03-31 · accession 0001504461-26-000012 (PaymentsToAcquireProductiveAssets)
  13. 10-K · period ending 2022-03-31 · accession 0001504461-23-000041 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2023-03-31 · accession 0001504461-24-000013 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2024-03-31 · accession 0001504461-25-000014 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2025-03-31 · accession 0001504461-26-000012 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2022-03-31 · accession 0001504461-23-000041 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2023-03-31 · accession 0001504461-24-000013 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2024-03-31 · accession 0001504461-25-000014 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2025-03-31 · accession 0001504461-26-000012 (CashAndCashEquivalentsAtCarryingValue)