| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 94 | 6.0x | 17.8x | Top tier | |
Growth | 49 | 13.4% | 7.1% | Around median | |
Quality | 68 | 10.7% | 4.5% | Top tier | |
Safety | 68 | 1.1x | 2.6x | Top tier | |
Capital Return | 36 | 0.22% | 2.12% | Bottom tier | |
Momentum | 99 | 67.7% | 2.9% | Top tier | |
Sentiment | 89 | 3 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Navios Maritime Partners L.P. is a maritime transportation company that owns, operates, and charters a modern fleet of 176 vessels across tankers, dry bulk vessels, and containerships, spanning 15 asset classes. Approximately one-third of the fleet’s value is allocated to each segment, reducing dependence on any single shipping market, while the company combines long-term charters with partial exposure to spot or index-linked rates. The fleet, including the newbuilding program, was valued at $10.2 billion, while contracted revenue reached $4.4 billion extending through 2037, comprising $2.0 billion from tankers, $2.1 billion from containerships, and $0.3 billion from dry bulk vessels.
In Q2 fiscal 2026, revenue increased 25% to $410.2 million, from $327.6 million in Q2 fiscal 2025, despite a 2% decline in available days to 13,152 days. Gross profit reached $364.5 million, representing a gross margin of approximately 88.9%, while net income increased to $167.9 million from $69.9 million, representing a net margin of approximately 40.9%. The company also reported adjusted earnings of $4.65 per unit and accounting earnings of $5.78 per unit, while adjusted EBITDA reached $242 million.
Growth in Q2 fiscal 2026 was driven by a 24% increase in the combined TCE rate to $28,512 per day. The TCE rate for dry bulk vessels increased 53% to $23,682 per day and the rate for tankers increased 25% to $33,159, while the containership rate remained nearly stable at $31,191. For the first half of fiscal 2026, revenue reached $767 million, net income was $274.3 million, and adjusted EBITDA was $446 million.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus on NMM is neutral, with an average target of $85 and identical high and low targets of $85, indicating that the data includes a single estimate or a range with no variation. This target is below the 52-week high of $91.96, while the range extends to a low of $43.02, and no P/E ratio is available to permit a direct comparison between earnings and price; therefore, earnings growth and unit repurchases should be weighed against shipping cyclicality and substantial capital commitments.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Revenue increased 25% to $410.2 million despite a 2% decline in available days to 13,152 days. Growth was driven by a 24% increase in the combined TCE rate to $28,512 per day, led by a 53% increase in dry bulk and a 25% increase in tankers. As a result, net income increased to $167.9 million, while adjusted EBITDA reached $242 million.
Contracted revenue reached $4.4 billion as of August 20, 2026, and extends through 2037. The balance comprises $2.0 billion from tankers, $2.1 billion from containerships, and $0.3 billion from dry bulk vessels. The company added approximately $666 million to the balance during Q2 and Q3 through the fiscal 2026 earnings call date.
The company sold two 16-year-old VLCCs for $136.5 million at prices approximately 18% above the previous historical peak for vessels of that age. It then contracted for seven new VLCCs valued at $844 million, with one vessel remaining subject to ongoing discussions. The vessels were fixed under contracts averaging 6.1 years at an average net rate of $45,224 per day, with expected revenue of approximately $700 million.
Available liquidity reached $625 million, including $469 million of cash and cash equivalents, restricted cash, and qualified deposits, plus $156 million available under two revolving credit facilities. Long-term debt, including the current portion and the bond and after deferred fees, reached $2.26 billion. The net loan-to-value ratio was 27.9%, compared with management’s target of 20% to 25%, and there are no major concentrated maturities before 2030.
Management stated on August 20, 2026, that disruptions in the Strait of Hormuz affect approximately 20% of global crude oil, petroleum product, and liquefied natural gas flows and had pushed VLCC rates to levels of $602,000 per day. Longer routes effectively reduce vessel availability and increase demand measured in ton-miles, while fuel and voyage costs under most time charters are passed through to charterers. However, management also warned that a prolonged closure could trigger a global slowdown or a recessionary demand shock affecting tankers, dry bulk vessels, and containerships.
On August 20, 2026, the company announced a new $200 million authorization in addition to the amount remaining under its previous program. Since the previous program began in Q2 fiscal 2024, it has purchased 1.9 million units for $92.6 million, including 135,846 units for $9.8 million in Q2 fiscal 2026. Outstanding units declined from 30.2 million to 28.3 million by August 12, 2026, and management estimated the cumulative positive effect at approximately $6.30 per unit.
