A Business at a Glance
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GENESIS ENERGY LP
GEL
$1.8B
Mkt Cap
$15.02
-0.53%
GENESIS ENERGY LP (GEL) has a 5-year average return on invested capital (ROIC) of 5.0%. This is below average and may indicate limited pricing power.
GENESIS ENERGY LP (GEL) has a market capitalization of $1.8B. It is classified as a small-cap stock.
GENESIS ENERGY LP (GEL) does not currently pay a regular dividend.
GENESIS ENERGY LP (GEL) operates in the Pipe Lines (No Natural Gas) industry, within the Industrials sector.
GENESIS ENERGY LP (GEL) reported annual revenue of $1.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
GENESIS ENERGY LP (GEL) has a net profit margin of -31.5%. The company is currently unprofitable.
GENESIS ENERGY LP (GEL) generated $66 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Item 1. Business We are a growth-oriented master limited partnership (“MLP”) formed in Delaware in 1996 focused on the midstream segment of the crude oil and natural gas industry. Our common units are traded on the New York Stock Exchange (“NYSE”), under the ticker symbol “GEL.” We provide an integrated suite of services (including transportation, storage, sulfur removal, blending, terminaling and processing) to crude oil and natural gas producers, refiners, and industrial and commercial enterprises. Our operations are primarily located in the Gulf of America and in the Gulf Coast region of the United States. We have a diverse portfolio of assets, including pipelines, offshore hub and junction platforms, refinery-related plants, storage tanks, terminals, railcars, rail unloading facilities, barges and other vessels, and trucks.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.7B | 1.6B | 1.7B | 1.7B | 2.8B | 2.1B |
| Net Income | -23M | -513M | -152M | 118M | 75M | -240M |
| EPS | $-0.19 | $-4.19 | $-1.24 | $0.22 | $0.62 | $-1.96 |
| Free Cash Flow | 178M | 66M | -195M | -99M | -90M | 37M |
| ROIC | 8.5% | 7.1% | 3.8% | 4.5% | 7.5% | 1.9% |
| Gross Margin | - | 52.8% | 49.9% | 46.2% | 32.4% | 32.0% |
| Debt/Equity | 0.00 | -9.93 | 14.63 | 8.29 | 6.70 | 4.94 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 313M | 258M | 170M | 205M | 315M | 76M |
| Operating Margin | 18.6% | 15.8% | 10.2% | 11.9% | 11.3% | 3.6% |
| ROE | 0.0% | - | -37.9% | 21.7% | 12.5% | -32.6% |
| Shares Outstanding | 122M | 123M | 122M | 535M | 123M | 122M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.8B | 2.2B | 1.7B | 2.0B | 2.9B | 2.5B | 1.8B | 2.1B | 2.8B | 1.7B | 1.7B | 1.6B | 1.7B |
| Gross Margin | 8.9% | 21.0% | 35.9% | 35.3% | 26.8% | 34.9% | 17.3% | 32.0% | 32.4% | 46.2% | 49.9% | 52.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 51M | 65M | 46M | 66M | 67M | 53M | 57M | 61M | 67M | 65M | 58M | 86M | 63M |
| EBIT | 133M | 157M | 206M | 221M | 170M | 273M | -246M | 76M | 315M | 205M | 170M | 258M | 313M |
| Op. Margin | 3.4% | 7.0% | 12.1% | 10.9% | 5.8% | 11.0% | -13.5% | 3.6% | 11.3% | 11.9% | 10.2% | 15.8% | 18.6% |
| Net Income | 106M | 423M | 113M | 61M | -76M | 96M | -491M | -240M | 75M | 118M | -152M | -513M | -23M |
| Net Margin | 2.8% | 18.8% | 6.6% | 3.0% | -2.6% | 3.9% | -26.9% | -11.3% | 2.7% | 6.8% | -9.1% | -31.5% | -1.4% |
| Non-Recurring | 0 | 0 | 0 | 40M | 169M | 0 | -22M | 0 | 40M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 5.0% | 4.0% | 4.0% | 4.0% | 3.2% | 5.4% | -10.8% | 1.9% | 7.5% | 4.5% | 3.8% | 7.1% | 8.5% |
| ROE | 9.1% | 26.0% | 5.5% | 2.9% | -4.1% | 6.1% | -43.2% | -32.6% | 12.5% | 21.7% | -37.9% | N/A | 0.0% |
| ROA | 3.5% | 9.7% | 2.0% | 0.9% | -1.1% | 1.5% | -7.8% | -4.1% | 1.2% | 1.8% | -2.2% | -8.6% | -0.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 291M | 290M | 283M | 324M | 390M | 382M | 297M | 338M | 334M | 521M | 392M | 253M | 310M |
| Free Cash Flow | -152M | -206M | -180M | 73M | 195M | 219M | 153M | 37M | -90M | -99M | -195M | 66M | 178M |
| Owner Earnings | 196M | 134M | 54M | 65M | 73M | 54M | -2.3M | 19M | 20M | 216M | 74M | -13M | 62M |
| CapEx | 443M | 496M | 463M | 251M | 195M | 163M | 144M | 301M | 424M | 620M | 587M | 187M | 131M |
| Maint. CapEx | 91M | 150M | 222M | 252M | 313M | 320M | 295M | 310M | 296M | 280M | 313M | 251M | 235M |
| Growth CapEx | 353M | 346M | 241M | 0 | 0 | 0 | 0 | 0 | 128M | 340M | 274M | 0 | 0 |
| D&A | 91M | 150M | 222M | 252M | 313M | 320M | 295M | 310M | 296M | 280M | 313M | 251M | 235M |
| CapEx/OCF | 152.4% | 171.2% | 155.2% | 77.4% | 50.1% | 42.7% | 48.6% | 89.2% | 126.9% | 119.0% | 149.8% | 73.9% | 42.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.0M | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.1% | N/A | N/A | 0.0% |
| Stock-Based Comp | 4.5M | 5.0M | 6.6M | 5.8M | 3.9M | 8.5M | 3.7M | 8.8M | 18M | 25M | 5.2M | 15M | 13M |
| Debt Repayment | 0 | 0 | 0 | 0 | 1.1B | 826M | 1.3B | 1.4B | 815M | 1.1B | 1.4B | 1.2B | 1.2B |
| Balance Sheet | |||||||||||||
| Net Debt | 1.6B | 2.9B | 3.1B | 3.7B | 3.4B | 3.6B | 3.5B | 3.2B | 3.8B | 4.3B | 4.1B | 3.1B | 3.2B |
| Cash & Equiv. | 9.5M | 11M | 7.0M | 9.0M | 10M | 29M | 21M | 20M | 7.9M | 9.2M | 7.4M | 6.4M | 4.2M |
| Long-Term Debt | 1.6B | 2.9B | 3.1B | 3.7B | 3.4B | 3.4B | 3.4B | 3.0B | 3.5B | 3.8B | 3.7B | 3.0B | 3.2B |
| Debt/Equity | 1.29 | 1.45 | 1.46 | 1.84 | 2.04 | 2.50 | 4.28 | 4.94 | 6.70 | 8.29 | 14.63 | -9.93 | 0.00 |
| Interest Coverage | 2.0 | 1.6 | 1.5 | 1.2 | 0.7 | 1.2 | -1.2 | 0.3 | 1.4 | 0.8 | 0.6 | 1.0 | 1.0 |
| Equity | 1.2B | 2.0B | 2.1B | 2.0B | 1.7B | 1.4B | 829M | 641M | 567M | 520M | 280M | -314M | -343M |
| Total Assets | 3.2B | 5.5B | 5.7B | 7.1B | 6.5B | 6.6B | 5.9B | 5.9B | 6.4B | 7.0B | 7.0B | 4.9B | 4.8B |
| Total Liabilities | 2.0B | 3.4B | 3.6B | 4.4B | 4.0B | 4.3B | 4.2B | 3.9B | 4.6B | 5.3B | 5.5B | 4.2B | 4.3B |
| Intangibles | 83M | 223M | 205M | 182M | 163M | 139M | 129M | 127M | 127M | 142M | 85M | 76M | 73M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Working Capital | -7.8M | 4.2M | 99M | 180M | 110M | 178M | 197M | 46M | 144M | -3.4M | 53M | -12M | -18M |
| Current Assets | 355M | 306M | 360M | 636M | 443M | 593M | 580M | 542M | 853M | 964M | 912M | 687M | 703M |
| Current Liabilities | 363M | 302M | 261M | 456M | 333M | 415M | 383M | 497M | 709M | 967M | 859M | 700M | 721M |
| Per Share Data | |||||||||||||
| EPS | N/A | N/A | N/A | N/A | N/A | 0.18 | -4.01 | -1.96 | 0.62 | 0.22 | -1.24 | -4.19 | -0.19 |
| Owner EPS | N/A | N/A | N/A | N/A | N/A | 0.10 | -0.02 | 0.16 | 0.17 | 0.40 | 0.60 | -0.11 | 0.51 |
| Book Value | N/A | N/A | N/A | N/A | N/A | 2.71 | 6.77 | 5.24 | 4.63 | 0.97 | 2.29 | -2.57 | -2.80 |
| Cash Flow/Share | N/A | N/A | N/A | N/A | N/A | 0.72 | 2.42 | 2.76 | 2.73 | 0.97 | 3.21 | 2.06 | 1.73 |
| Dividends/Share | 2.23 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | N/A | N/A | N/A | N/A | N/A | 533.3M | 122.5M | 122.3M | 122.6M | 535.1M | 122.2M | 122.5M | 122.5M |
| Valuation | |||||||||||||
| P/E Ratio | 20.0 | 4.7 | 19.4 | 24.8 | N/A | 79.7 | N/A | N/A | N/A | 48.1 | N/A | N/A | -81.0 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 34.1 | 3.7 | 28.9 | N/A | N/A | N/A | 29.0 | 10.3 |
| EV/EBIT | 20.1 | 19.6 | 16.8 | 11.7 | 13.6 | 9.6 | N/A | 52.8 | 12.6 | 14.1 | 28.8 | 19.1 | 16.3 |
| Price/Book | 1.7 | 1.0 | 1.0 | 0.7 | 0.8 | 1.2 | 4.6 | 8.6 | 7.6 | 10.6 | 9.7 | 15.6 | N/A |
| Price/Sales | 0.7 | 1.0 | 1.2 | 0.9 | 0.6 | 0.7 | 0.4 | 0.4 | 0.4 | 0.4 | 0.9 | 1.1 | 1.1 |
| FCF Yield | -7.2% | -10.4% | -8.2% | 4.8% | 14.3% | 12.8% | 27.2% | 3.5% | -9.6% | -7.6% | -16.4% | 3.5% | 9.7% |
| Market Cap | 2.1B | 2.0B | 2.2B | 1.5B | 1.4B | 1.7B | 561M | 1.1B | 932M | 1.3B | 1.2B | 1.9B | 1.8B |
| Avg. Price | 22.92 | 19.94 | 16.67 | 15.71 | 13.15 | 13.85 | 5.76 | 7.48 | 9.07 | 9.48 | 11.58 | 14.68 | 15.02 |
| Year-End Price | 19.35 | 16.85 | 17.92 | 12.28 | 11.09 | 14.01 | 4.57 | 8.64 | 8.12 | 10.59 | 9.72 | 15.59 | 15.02 |
GENESIS ENERGY LP passes 0 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 27.9x vs a median of 28.9x. The company's 5-year average ROIC is 5.0% with a gross margin of 42.6%. At current prices, the estimated annualized return to fair value is -20.1%.
GENESIS ENERGY LP (GEL) reported earnings per share (EPS) of $-4.19 in its most recent fiscal year.
GENESIS ENERGY LP (GEL) has a 5-year average gross margin of 42.6%. This indicates decent pricing power.
The Ledger Terminal provides 16 years of financial data for GENESIS ENERGY LP (GEL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
GENESIS ENERGY LP (GEL) has a book value per share of $-2.57, based on its most recent annual SEC filing.