Summit Midstream Partners LP (Summit Midstream Partners LP) Return-on-Tangible-Equity : -11.03% (As of Dec. 2023)

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What is Summit Midstream Partners LP Return-on-Tangible-Equity?

Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Summit Midstream Partners LP's annualized net income for the quarter that ended in Dec. 2023 was $-60.5 Mil. Summit Midstream Partners LP's average shareholder tangible equity for the quarter that ended in Dec. 2023 was $548.4 Mil. Therefore, Summit Midstream Partners LP's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2023 was -11.03%.

The historical rank and industry rank for Summit Midstream Partners LP's Return-on-Tangible-Equity or its related term are showing as below:

SMLP' s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -555.17 Med: -7.02 Max: 11.09
Current: -7.04

During the past 13 years, Summit Midstream Partners LP's highest Return-on-Tangible-Equity was 11.09%. The lowest was -555.17%. And the median was -7.02%.

SMLP's Return-on-Tangible-Equity is ranked worse than
76.52% of 1005 companies
in the Oil & Gas industry
Industry Median: 8.96 vs SMLP: -7.04

Summit Midstream Partners LP Return-on-Tangible-Equity Historical Data

The historical data trend for Summit Midstream Partners LP's Return-on-Tangible-Equity can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Summit Midstream Partners LP Return-on-Tangible-Equity Chart

Summit Midstream Partners LP Annual Data

Trend

Dec14

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Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Return-on-Tangible-Equity

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-555.17

Negative Tangible Equity

-11.54

-19.03

-7.02

Summit Midstream Partners LP Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Return-on-Tangible-Equity	Get a 7-Day Free Trial															-15.73	-10.10	-9.83	2.82	-11.03

Competitive Comparison of Summit Midstream Partners LP's Return-on-Tangible-Equity

For the Oil & Gas Midstream subindustry, Summit Midstream Partners LP's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Summit Midstream Partners LP's Return-on-Tangible-Equity Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Summit Midstream Partners LP's Return-on-Tangible-Equity distribution charts can be found below:

* The bar in red indicates where Summit Midstream Partners LP's Return-on-Tangible-Equity falls into.

Summit Midstream Partners LP Return-on-Tangible-Equity Calculation

Summit Midstream Partners LP's annualized Return-on-Tangible-Equity for the fiscal year that ended in Dec. 2023 is calculated as

Return-on-Tangible-Equity	=	Net Income	/	( (Total Tangible Equity	+	Total Tangible Equity)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	Net Income	/	( (Total Stockholders Equity - Intangible Assets	+	Total Stockholders Equity - Intangible Assets )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-38.947	/	( (566.1	+	542.971 )	/ 2 )
	=	-38.947	/	554.5355
	=	-7.02 %

Summit Midstream Partners LP's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2023 is calculated as

Return-on-Tangible-Equity	=	Net Income	/	( (Total Tangible Equity	+	Total Tangible Equity)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	Net Income	/	( (Total Stockholders Equity - Intangible Assets	+	Total Stockholders Equity - Intangible Assets)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	-60.472	/	( (553.795	+	542.971)	/ 2 )
	=	-60.472	/	548.383
	=	-11.03 %

In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Dec. 2023) net income data. Return-on-Tangible-Equity is displayed in the 10-year financial page.

Summit Midstream Partners LP (NYSE:SMLP) Return-on-Tangible-Equity Explanation

Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.

Be Aware

Net Income is used.

Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.

Summit Midstream Partners LP Return-on-Tangible-Equity Related Terms

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Summit Midstream Partners LP (Summit Midstream Partners LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Summit Midstream Partners LP (NYSE:SMLP) » Definitions » Return-on-Tangible-Equity

Comparable Companies

BPT MMLP DLNG CWPE GPP PXS IMPP OSG BANL SNMP TSX:ENB EPD WMB ET LNG OKE MPLX KMI TSX:TRP CQP

Traded in Other Exchanges

N/A

Address

910 Louisiana Street, Suite 4200, Houston, TX, USA, 77002

Website

http://www.summitmidstream.com

Summit Midstream Partners LP is a United States-based energy solutions provider involved in the oil and gas industry. The company develops, owns, and operates midstream energy infrastructure assets. The company conduct and reports operations in the midstream energy industry through five reportable segments: Northeast, Rockies, Permian, Piceance, and Barnett. It offers systems that gather natural gas from pad sites, wells, and central receipt points connected to the company's systems with provisions to supply to processing plants, contractors, and end-users. The Majority of its assets are located in the producing areas of unconventional resource basins in the continental United States. It derives the majority of its revenues from the Piceance.

Executives

James David Johnston	officer: See remarks below.	910 LOUISIANA STREET, SUITE 4200, HOUSTON TX 77002
Rommel M. Oates	director, other: See Remarks.	910 LOUISIANA STREET, SUITE 4200, HOUSTON TX 77002
William J. Mault	officer: See remarks below.	910 LOUISIANA STREET, SUITE 4200, HOUSTON TX 77002
Matthew B. Sicinski	officer: See remarks below.	910 LOUISIANA STREET, SUITE 4200, HOUSTON TX 77002
James J Cleary	director, other: See Remarks.	12 E. 49TH STREET, 39TH FLOOR, NEW YORK NY 10017
Marguerite Woung-chapman	director, other: See Remarks.	1001 LOUISIANA, HOUSTON TX 77002
Robert Joseph Mcnally	director, other: See Remarks.	625 LIBERTY AVENUE, SUITE 1700, C/O EQT CORPORATION, PITTSBURGH PA 15222
Christopher M Leininger	director, other: See Remarks.	11943 EL CAMINO REAL, SUITE 200, SAN DIEGO CA 92130
Francesco Ciabatti	director, other: See Remarks.	51 JOHN F. KENNEDY PARKWAY, SUITE 200, SHORT HILLS NJ 07078
J Heath Deneke	director, officer: See remarks below.	700 LOUISIANA STREET, SUITE 2550, HOUSTON TX 77002
James Lee Jacobe	director, other: See Remarks.	1790 HUGHES LANDING BLVD., SUITE 500, THE WOODLANDS TX 77380
Energy Capital Partners Ii-c (summit Ip), Lp	director, 10 percent owner	51 JOHN F. KENNEDY PARKWAY, SUITE 1250, SHORT HILLS NJ 07078
Energy Capital Partners Ii (summit Co-invest), Lp	director, 10 percent owner	C/O ENERGY CAPITAL PARTNERS II, 51 JOHN F. KENNEDY PARKWAY, SUITE 200, SHORT HILLS NJ 07078
Energy Capital Partners Ii-b Ip, Lp	director, 10 percent owner	51 JOHN F. KENNEDY PARKWAY, SUITE 1250, SHORT HILLS NJ 07078
Energy Capital Partners Ii, Llc	director, 10 percent owner, other: See Footnotes	51 JOHN F. KENNEDY PARKWAY, SUITE 1250, SHORT HILLS NJ 07078