MeritValue

Seapeak LLC

SEAL-PAdata completeness 75%18 fiscal years on file

Data notes: no data for concept 'epsDiluted'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$597.8M1$624.5M2$726.8M3$710.7M3$637M3
Net income$255.5M4$241.6M5$317.7M6−$95.8M6$26M6
Operating cash flow$198.9M7$276.8M8$362.7M8$395.3M8$272.9M9
Capital expenditure$42M10$108M11$148M12$257.7M12$61.3M12
Free cash flow (derived)$156.9M7$168.8M8$214.7M8$137.6M8$211.6M9
Total debt$2.76B13$2.81B14$2.14B15$2.12B16$1.78B16
Cash & equivalents$92.1M17$215.7M18$168.4M18$153.7M18$122.9M18
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 fallen 35% — deleveraging.

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
no diluted share count
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. 20-F · period ending 2021-12-31 · accession 0001628280-24-012688 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 20-F · period ending 2022-12-31 · accession 0001628280-25-012765 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 20-F · period ending 2023-12-31 · accession 0001308106-26-000002 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 20-F · period ending 2021-12-31 · accession 0001628280-24-012688 (ProfitLoss)
  5. 20-F · period ending 2022-12-31 · accession 0001628280-25-012765 (ProfitLoss)
  6. 20-F · period ending 2023-12-31 · accession 0001308106-26-000002 (ProfitLoss)
  7. 20-F · period ending 2021-12-31 · accession 0001628280-24-012688 (NetCashProvidedByUsedInOperatingActivities)
  8. 20-F · period ending 2022-12-31 · accession 0001628280-25-012765 (NetCashProvidedByUsedInOperatingActivities)
  9. 20-F · period ending 2025-12-31 · accession 0001308106-26-000002 (NetCashProvidedByUsedInOperatingActivitiesContinuingOperations)
  10. 20-F · period ending 2021-12-31 · accession 0001628280-24-012688 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 20-F · period ending 2022-12-31 · accession 0001628280-25-012765 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 20-F · period ending 2023-12-31 · accession 0001308106-26-000002 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 20-F · period ending 2021-12-31 · accession 0001628280-23-010204 (LongTermDebtNoncurrent)
  14. 20-F · period ending 2022-12-31 · accession 0001628280-24-012688 (LongTermDebtNoncurrent)
  15. 20-F · period ending 2023-12-31 · accession 0001628280-25-012765 (LongTermDebtNoncurrent)
  16. 20-F · period ending 2024-12-31 · accession 0001308106-26-000002 (LongTermDebtNoncurrent)
  17. 20-F · period ending 2021-12-31 · accession 0001628280-25-012765 (CashAndCashEquivalentsAtCarryingValue)
  18. 20-F · period ending 2022-12-31 · accession 0001308106-26-000002 (CashAndCashEquivalentsAtCarryingValue)