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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 9/10

vs
industry
vs
history
Cash to Debt 0.04
SUSP's Cash to Debt is ranked lower than
67% of the 236 Companies
in the Global Industrial Distribution industry.

( Industry Median: 1.12 vs. SUSP: 0.04 )
SUSP' s 10-Year Cash to Debt Range
Min: 0.04   Max: No Debt
Current: 0.04

Equity to Asset 0.20
SUSP's Equity to Asset is ranked lower than
67% of the 236 Companies
in the Global Industrial Distribution industry.

( Industry Median: 0.49 vs. SUSP: 0.20 )
SUSP' s 10-Year Equity to Asset Range
Min: 0.2   Max: 0.5
Current: 0.2

0.2
0.5
Interest Coverage 12.20
SUSP's Interest Coverage is ranked higher than
56% of the 177 Companies
in the Global Industrial Distribution industry.

( Industry Median: 16.07 vs. SUSP: 12.20 )
SUSP' s 10-Year Interest Coverage Range
Min: 12.2   Max: 44.39
Current: 12.2

12.2
44.39
Z-Score: 13.39
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 3/10

vs
industry
vs
history
Operating margin (%) 0.91
SUSP's Operating margin (%) is ranked lower than
59% of the 238 Companies
in the Global Industrial Distribution industry.

( Industry Median: 3.93 vs. SUSP: 0.91 )
SUSP' s 10-Year Operating margin (%) Range
Min: 0.44   Max: 0.91
Current: 0.91

0.44
0.91
Net-margin (%) 0.82
SUSP's Net-margin (%) is ranked lower than
54% of the 238 Companies
in the Global Industrial Distribution industry.

( Industry Median: 2.40 vs. SUSP: 0.82 )
SUSP' s 10-Year Net-margin (%) Range
Min: 0.28   Max: 0.82
Current: 0.82

0.28
0.82
ROE (%) 46.46
SUSP's ROE (%) is ranked higher than
100% of the 236 Companies
in the Global Industrial Distribution industry.

( Industry Median: 7.04 vs. SUSP: 46.46 )
SUSP' s 10-Year ROE (%) Range
Min: 9.15   Max: 46.46
Current: 46.46

9.15
46.46
ROA (%) 9.49
SUSP's ROA (%) is ranked higher than
94% of the 238 Companies
in the Global Industrial Distribution industry.

( Industry Median: 2.95 vs. SUSP: 9.49 )
SUSP' s 10-Year ROA (%) Range
Min: 4.58   Max: 9.49
Current: 9.49

4.58
9.49
ROC (Joel Greenblatt) (%) 21.74
SUSP's ROC (Joel Greenblatt) (%) is ranked higher than
76% of the 238 Companies
in the Global Industrial Distribution industry.

( Industry Median: 16.15 vs. SUSP: 21.74 )
SUSP' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 21.23   Max: 31.41
Current: 21.74

21.23
31.41
» SUSP's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2013

SUSP Guru Trades in Q1 2013

Ron Baron 1,735,847 sh (+2.83%)
» More
Q2 2013

SUSP Guru Trades in Q2 2013

Murray Stahl 50,865 sh (New)
Ron Baron 1,754,383 sh (+1.07%)
» More
Q3 2013

SUSP Guru Trades in Q3 2013

Murray Stahl 52,584 sh (+3.38%)
Ron Baron 1,748,369 sh (-0.34%)
» More
Q4 2013

SUSP Guru Trades in Q4 2013

Murray Stahl 57,926 sh (+10.16%)
Ron Baron 1,484,219 sh (-15.11%)
» More
» Details

Insider Trades

Latest Guru Trades with SUSP

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ron Baron 2012-12-31 New Buy0.27%$23.45 - $25.96 $ 36.448%1688110
Premium More recent guru trades are included for Premium Members only!!
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Guru Investment Theses on Susser Petroleum Partners LP

Third Avenue Management Comments on Susser Petroleum Partners - Sep 18, 2013

Susser Petroleum Partners (SUSP): In September 2012, Susser spun off its Susser Petroleum Partners ("SPP") wholesale fuel business into a Master Limited Partnership (MLP) structure that provides fuel to Susser, as well as to third parties. While this structure creates a degree of "analytical noise" as it relates to the company's reported GAAP financials, it creates a more appropriately valued "currency" for SPP that it can use for growth and acquisitions while it effectively lowers Susser's cost of capital. Moreover, in addition to being the controlling general partner and majority limited partner of the MLP, Susser also holds a hidden asset of sorts in the form of Incentive Distribution Rights (IDRs) which effectively entitle Susser to an increasing portion of the MLP's distributions as it grows. While the distributions will likely be modest over the near term, SPP has attractive growth opportunities over the long-term through organic growth, acquisitions, and Susser stores being "dropped down" into the MLP via sale-leaseback transactions. The business model also provides a significant competitive advantage to Susser as it is able to take advantage of SPP's combined retail and wholesale fuel purchasing volume to obtain attractive pricing and terms.

• Financial position: Since coming public in 2006, the strength of Susser's balance sheet has steadily improved. In the wake of the SPP initial public offering and resulting proceeds, Susser has been able to refinance its debt at attractive rates and ultimately reduce its net debt to about one times EBITDA 3 (down from about four times EBITDA in 2007).

• Valuation: Despite being recognized as among the highest-quality businesses in the convenience store industry, we were able to invest in Susser's retail operations at an implied valuation4 of less than six times trailing EBITDA, which represents a glaring discount not only to broader industry valuations but also to private market transaction values. In addition to its high-quality operations, we would argue that Susser deserves a premium valuation for its ownership of Laredo Taco Company in light of the brand's strength within Texas and the relatively high valuations ascribed to similar public "quick service restaurant" concepts.

From Third Avenue Management's semi-annual 2013 report.


Check out Third Avenue Management latest stock trades

Top Ranked Articles about Susser Petroleum Partners LP

Third Avenue Management Comments on Susser Petroleum Partners
Susser Petroleum Partners (SUSP): In September 2012, Susser spun off its Susser Petroleum Partners ("SPP") wholesale fuel business into a Master Limited Partnership (MLP) structure that provides fuel to Susser, as well as to third parties. While this structure creates a degree of "analytical noise" as it relates to the company's reported GAAP financials, it creates a more appropriately valued "currency" for SPP that it can use for growth and acquisitions while it effectively lowers Susser's cost of capital. Moreover, in addition to being the controlling general partner and majority limited partner of the MLP, Susser also holds a hidden asset of sorts in the form of Incentive Distribution Rights (IDRs) which effectively entitle Susser to an increasing portion of the MLP's distributions as it grows. While the distributions will likely be modest over the near term, SPP has attractive growth opportunities over the long-term through organic growth, acquisitions, and Susser stores being "dropped down" into the MLP via sale-leaseback transactions. The business model also provides a significant competitive advantage to Susser as it is able to take advantage of SPP's combined retail and wholesale Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 21.60
SUSP's P/E(ttm) is ranked higher than
50% of the 206 Companies
in the Global Industrial Distribution industry.

( Industry Median: 18.50 vs. SUSP: 21.60 )
SUSP' s 10-Year P/E(ttm) Range
Min: 18.45   Max: 837
Current: 21.6

18.45
837
P/B 9.90
SUSP's P/B is ranked lower than
86% of the 227 Companies
in the Global Industrial Distribution industry.

( Industry Median: 1.30 vs. SUSP: 9.90 )
SUSP' s 10-Year P/B Range
Min: 6.87   Max: 10.17
Current: 9.9

6.87
10.17
P/S 0.09
SUSP's P/S is ranked higher than
94% of the 239 Companies
in the Global Industrial Distribution industry.

( Industry Median: 0.57 vs. SUSP: 0.09 )
SUSP' s 10-Year P/S Range
Min: 0.01   Max: 0.33
Current: 0.09

0.01
0.33
EV-to-EBIT 23.80
SUSP's EV-to-EBIT is ranked lower than
69% of the 215 Companies
in the Global Industrial Distribution industry.

( Industry Median: 14.30 vs. SUSP: 23.80 )
SUSP' s 10-Year EV-to-EBIT Range
Min: 8   Max: 35
Current: 23.8

8
35

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 5.07
SUSP's Dividend Yield is ranked higher than
89% of the 188 Companies
in the Global Industrial Distribution industry.

( Industry Median: 2.20 vs. SUSP: 5.07 )
SUSP' s 10-Year Dividend Yield Range
Min: 0.1   Max: 5.59
Current: 5.07

0.1
5.59
Dividend Payout 0.53
SUSP's Dividend Payout is ranked lower than
61% of the 170 Companies
in the Global Industrial Distribution industry.

( Industry Median: 0.35 vs. SUSP: 0.53 )
SUSP' s 10-Year Dividend Payout Range
Min: 0.07   Max: 1.06
Current: 0.53

0.07
1.06
Yield on cost (5-Year) 5.10
SUSP's Yield on cost (5-Year) is ranked higher than
82% of the 195 Companies
in the Global Industrial Distribution industry.

( Industry Median: 2.48 vs. SUSP: 5.10 )
SUSP' s 10-Year Yield on cost (5-Year) Range
Min: 0.1   Max: 5.59
Current: 5.1

0.1
5.59

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 23.50
SUSP's Price/Tangible Book is ranked lower than
89% of the 218 Companies
in the Global Industrial Distribution industry.

( Industry Median: 1.30 vs. SUSP: 23.50 )
SUSP' s 10-Year Price/Tangible Book Range
Min: 13.04   Max: 21.35
Current: 23.5

13.04
21.35
Price/Median PS Value 10.80
SUSP's Price/Median PS Value is ranked lower than
88% of the 225 Companies
in the Global Industrial Distribution industry.

( Industry Median: 1.10 vs. SUSP: 10.80 )
SUSP' s 10-Year Price/Median PS Value Range
Min: 0.89   Max: 1.32
Current: 10.8

0.89
1.32
Price/Graham Number 4.70
SUSP's Price/Graham Number is ranked lower than
81% of the 190 Companies
in the Global Industrial Distribution industry.

( Industry Median: 1.00 vs. SUSP: 4.70 )
SUSP' s 10-Year Price/Graham Number Range
Min: 4.26   Max: 4.31
Current: 4.7

4.26
4.31
Earnings Yield (Greenblatt) 4.20
SUSP's Earnings Yield (Greenblatt) is ranked lower than
61% of the 223 Companies
in the Global Industrial Distribution industry.

( Industry Median: 7.00 vs. SUSP: 4.20 )
SUSP' s 10-Year Earnings Yield (Greenblatt) Range
Min: 2.9   Max: 12.5
Current: 4.2

2.9
12.5

Business Description

Industry: Industrial Distribution » Industrial Distribution
Compare: » details
Traded in other countries:SUP.Germany
Susser Petroleum Partners LP is engaged in fee-based wholesale distribution of motor fuels to Susser Holdings Corporation and third parties. It operates in regions such as Texas, New Mexico, Oklahoma and Louisiana.

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