MMLP
Martin Midstream Partners L.P.
$2.23
-0.05 (-2.19%)
At close · Jul 10
View the 10-Q filed Apr 27, 2026
Customer concentration
— top customer 15% of revenue
One customer — 15% of revenue (the three months ended March 31, 2026)
“Our sales to Martin Resource Management Corporation accounted for approximately 15% and 14% of our total revenues for the three months ended March 31, 2026 and 2025, respectively.”
One customer — 14% of revenue (the three months ended March 31, 2025)
“Our sales to Martin Resource Management Corporation accounted for approximately 15% and 14% of our total revenues for the three months ended March 31, 2026 and 2025, respectively.”
Market Cap
$87.25M
Shares
39,124,686
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$716.11M
+1.2%
FY2025
Net Income
-$14.75M
-183.2%
FY2025
Gross Margin
55.51%
-2.5pp
FY2025
Operating Margin
6.83%
-1.3pp
FY2025
Operating Cash Flow
$46.13M
-4.6%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $711.24M | $716.11M | $707.62M | $797.96M | $1.02B | $882.43M | $672.14M | $847.12M | $1.02B | $973.39M | $827.39M | $1.04B | $1.65B | $1.62B | $1.5B | $1.25B | $889.46M | $662.39M | |
| -$58.48M | — | — | -$60.29M | -$53.67M | -$54.11M | -$46.21M | -$51.69M | -$52.35M | -$47.77M | -$46.1M | -$43.29M | -$42.2M | -$42.5M | — | — | — | — | |
| $318.55M | $318.62M | $297.04M | $389.68M | $623.31M | $533.1M | $356.93M | $492.8M | $659.31M | $594.68M | $478.19M | $641.4M | $1.28B | $1.28B | $1.2B | $1B | $665.09M | $457.26M | |
| $392.7M | $397.49M | $410.59M | $408.28M | $395.57M | $349.33M | $315.22M | $354.32M | $360.8M | $378.71M | $349.2M | $395.45M | $372.39M | $339.42M | $295.82M | $253.02M | $224.38M | $205.13M | |
| — | 55.51% | 58.02% | 51.17% | 38.82% | 39.59% | 46.9% | 41.83% | 35.37% | 38.91% | 42.2% | 38.14% | 22.53% | 20.93% | 19.75% | 20.18% | 25.23% | 30.97% | |
| $41.04M | $42M | $48.5M | $40.83M | $41.81M | $41.01M | $40.9M | $41.43M | $39.12M | $39.08M | $34.32M | $36.79M | $36.32M | $29.24M | $25.49M | $20.53M | $16.87M | $19.78M | |
| — | $9.68M | $9.05M | $5.01M | $5.71M | $4.09M | $5.24M | $5.8M | $2.35M | $3.11M | $19.55M | $22.12M | $9.77M | $1.15M | $140 | $140K | $226K | — | |
| $50.25M | $50.2M | $50.79M | $49.9M | $56.28M | $56.75M | $61.46M | $60.06M | $61.48M | $65.11M | $92.13M | $92.25M | $68.83M | $50.96M | $42.06M | $40.28M | $36.88M | $39.51M | |
| $124.59M | — | — | — | — | — | — | — | $128.34M | $140.18M | $152.33M | $183.47M | $184.05M | $170.16M | $146.29M | $134.73M | $113.43M | $117.44M | |
| $670.62M | $669.26M | $651.91M | $732.61M | $973.28M | $824.81M | $643.04M | $803.6M | $976.09M | $929.87M | $788.07M | $964.53M | $1.57B | $1.53B | $1.42B | $1.2B | $832.26M | $633.98M | |
| $42.51M | $48.9M | $57.3M | $66.72M | $51.26M | $57.28M | $46.5M | $58.1M | $45.06M | $45.62M | $72.72M | $70.15M | $67.87M | $81.46M | $73.84M | $47.35M | $48.08M | $34.42M | |
| — | 6.83% | 8.1% | 8.36% | 5.03% | 6.49% | 6.92% | 6.86% | 4.42% | 4.69% | 8.79% | 6.77% | 4.11% | 5.02% | 4.93% | 3.78% | 5.41% | 5.2% | |
| $92.77M | $99.09M | $108.08M | $116.62M | $107.54M | $114.03M | $107.96M | $118.16M | $106.54M | $110.72M | $164.86M | $162.4M | $136.7M | $132.43M | $115.9M | $87.63M | $84.97M | $73.93M | |
| $57.64M | $57.79M | $57.71M | $60.29M | $53.67M | — | — | — | — | — | — | — | $42.2M | $42.5M | $30.67M | $26.78M | $35.32M | $19M | |
| -$58.81M | -$58.87M | -$58.31M | -$65.36M | -$53.67M | -$54.11M | -$51.54M | -$51.68M | -$52.31M | -$46.64M | -$44.99M | -$31.94M | -$73.1M | -$95.27M | -$33.16M | -$31.11M | -$25.99M | -$11.63M | |
| -$1.21M | -$1.12M | -$624K | $0 | $0 | — | — | — | — | $4.31M | $4.71M | $8.99M | $5.47M | -$53.05M | -$1.11M | -$4.75M | $2.54M | $7.04M | |
| — | — | — | — | — | — | — | — | — | -$5.4M | -$7.5M | -$11.2M | -$2.6M | $0 | $0 | — | — | — | |
| -$16.3M | -$9.97M | -$1.01M | $1.37M | -$2.41M | $3.17M | -$5.04M | $6.42M | -$7.25M | -$1.03M | $27.73M | $38.21M | -$5.23M | -$13.81M | $40.68M | $16.24M | $22.09M | $22.8M | |
| $4.17M | $4.77M | $4.2M | $5.92M | $7.93M | $3.38M | $1.74M | $1.9M | $577K | $158K | $726K | $1.05M | $1.14M | $753K | $3.56M | $2.87M | $2.62M | $592K | |
| -$20.47M | -$14.75M | -$5.21M | -$4.55M | -$10.33M | -$211K | -$6.77M | -$174.95M | $55.66M | $19.92M | $31.65M | $38.38M | -$11.71M | -$13.35M | $101.99M | $22.76M | $27.53M | $22.2M | |
| — | -2.06% | -0.74% | -0.57% | -1.01% | -0.02% | -1.01% | -20.65% | 5.46% | 2.05% | 3.83% | 3.7% | -0.71% | -0.82% | 6.81% | 1.82% | 3.1% | 3.35% | |
| — | — | -$5.21M | -$4.55M | -$11.15M | $605K | -$6.77M | -$174.95M | — | — | — | — | -$11.71M | -$13.35M | $101.36M | $21.97M | $31.03M | $25.06M |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2009–FY2023: $2.56M in buybacks.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
—
Oil & Gas Midstream median 3.76×
EV/EBIT
—
Oil & Gas Midstream median 14.87×
P/E (TTM)
—
Oil & Gas Midstream median 23.74×
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Specialty Products Segment | $248,694,000 | $264,850,000 | $346,777,000 | $540,513,000 | $517,852,000 | — | — | — |
| Transportation Segment | $212,509,000 | $223,934,000 | $223,677,000 | $219,008,000 | $144,314,000 | $132,492,000 | — | — |
| Sulfur Services Segment | $164,079,000 | $129,771,000 | $140,995,000 | $179,164,000 | $145,042,000 | $108,007,000 | — | — |
| Terminalling and Storage Segment | $90,831,000 | $89,067,000 | $86,514,000 | $80,193,000 | $75,223,000 | $184,164,000 | — | — |
| Natural Gas Services | — | — | — | — | — | — | $366,502,000 | $496,007,000 |
| Natural Gas Services Segment | — | — | — | $398,422,000 | $414,043,000 | $247,479,000 | — | — |
| Sulfur Services | — | — | — | — | — | — | $111,340,000 | $132,536,000 |
| Terminalling and Storage | — | — | — | — | — | — | $209,654,000 | $241,440,000 |
| Transportation | — | — | — | — | — | — | $159,622,000 | $150,121,000 |
By Product & Service (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Product | $396,332,000 | $380,049,000 | $474,342,000 | $707,340,000 | $651,095,000 | $447,127,000 | $588,665,000 | $762,631,000 |
| Specialty Products | $248,694,000 | $264,850,000 | $346,777,000 | $540,513,000 | $517,852,000 | — | — | — |
| Transportation | $212,509,000 | $223,934,000 | $223,677,000 | $219,008,000 | $144,314,000 | $132,492,000 | $159,622,000 | $150,121,000 |
| Sulfur Service Product Sales | $147,638,000 | $115,199,000 | $127,565,000 | $166,827,000 | $133,243,000 | $96,348,000 | $99,906,000 | $121,388,000 |
| Terminalling and Storage | $90,831,000 | $89,067,000 | $86,514,000 | — | — | — | — | — |
| Sulfur Service Products | $16,441,000 | $14,572,000 | $13,430,000 | $12,337,000 | $11,799,000 | — | — | — |
| Natural Gas Liquids Product | — | — | — | $398,422,000 | $414,043,000 | $247,479,000 | $366,502,000 | $496,007,000 |
| Sulfur Service | — | — | — | $12,337,000 | $11,799,000 | $11,659,000 | $11,434,000 | $11,148,000 |
| Terminalling and Storage Lubricant Product | — | — | — | $142,016,000 | $103,809,000 | $103,300,000 | $122,257,000 | $145,236,000 |
| Terminalling and Storage Throughput and Storage | — | $89,067,000 | $86,514,000 | $80,193,000 | $75,223,000 | $80,864,000 | $87,397,000 | $96,204,000 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Transportation Segment | $21,041,000 | $30,184,000 | $33,701,000 | $41,357,000 | -$8,446,000 | -$16,102,000 | -$7,388,000 | -$13,560,000 |
| Sulfur Services Segment | $15,846,000 | $18,531,000 | $17,412,000 | $24,186,000 | $32,972,000 | $36,256,000 | $22,721,000 | $27,397,000 |
| Terminalling and Storage Segment | $14,590,000 | $11,098,000 | $14,532,000 | $1,189,000 | -$9,161,000 | $22,153,000 | $16,732,000 | $17,540,000 |
| Specialty Products Segment | $13,405,000 | $17,038,000 | $17,109,000 | $1,445,000 | $58,044,000 | — | — | — |
| Natural Gas Services | — | — | — | — | — | — | $44,020,000 | $31,581,000 |
| Natural Gas Services Segment | — | — | — | -$1,853,000 | $38,098,000 | $22,104,000 | $44,020,000 | $31,581,000 |
| Sulfur Services | — | — | — | — | — | — | $22,721,000 | $27,397,000 |
| Terminalling and Storage | — | — | — | — | — | — | $16,732,000 | $17,540,000 |
| Transportation | — | — | — | — | — | — | -$7,388,000 | -$13,560,000 |
Operating Margin by Segment (%)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Specialty Products Segment | 5.4% | 6.4% | 4.9% | 0.3% | 11.2% | — | — | — |
| Transportation Segment | 9.9% | 13.5% | 15.1% | 18.9% | -5.9% | -12.2% | — | — |
| Sulfur Services Segment | 9.7% | 14.3% | 12.3% | 13.5% | 22.7% | 33.6% | — | — |
| Terminalling and Storage Segment | 16.1% | 12.5% | 16.8% | 1.5% | -12.2% | 12% | — | — |
| Natural Gas Services | — | — | — | — | — | — | 12% | 6.4% |
| Natural Gas Services Segment | — | — | — | -0.5% | 9.2% | 8.9% | — | — |
| Sulfur Services | — | — | — | — | — | — | 20.4% | 20.7% |
| Terminalling and Storage | — | — | — | — | — | — | 8% | 7.3% |
| Transportation | — | — | — | — | — | — | -4.6% | -9% |