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Evolve Transition Infrastructure LP has the Financial Strength Rank of 2. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Warning Sign:
Evolve Transition Infrastructure LP displays poor financial strength. Usually, this is caused by too much debt for the company.
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). The higher, the better.Evolve Transition Infrastructure LP did not have earnings to cover the interest expense. Evolve Transition Infrastructure LP's debt to revenue ratio for the quarter that ended in Sep. 2023 was 0.86. As of today, Evolve Transition Infrastructure LP's Altman Z-Score is -2.39.
For the Oil & Gas Midstream subindustry, Evolve Transition Infrastructure LP's Financial Strength, along with its competitors' market caps and Financial Strength 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.
For the Oil & Gas industry and Energy sector, Evolve Transition Infrastructure LP's Financial Strength distribution charts can be found below:
* The bar in red indicates where Evolve Transition Infrastructure LP's Financial Strength falls into.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Evolve Transition Infrastructure LP's Interest Expense for the months ended in Sep. 2023 was $-16.69 Mil. Its Operating Income for the months ended in Sep. 2023 was $-3.86 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2023 was $18.10 Mil.
Evolve Transition Infrastructure LP's Interest Coverage for the quarter that ended in Sep. 2023 is
Evolve Transition Infrastructure LP did not have earnings to cover the interest expense. |
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Evolve Transition Infrastructure LP's Debt to Revenue Ratio for the quarter that ended in Sep. 2023 is
Debt to Revenue Ratio | = | Total Debt (Q: Sep. 2023 ) | / | Revenue | ||
= | (Short-Term Debt & Capital Lease Obligation | + | Long-Term Debt & Capital Lease Obligation) | / | Revenue | |
= | (2.286 | + | 18.097) | / | 23.672 | |
= | 0.86 |
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Evolve Transition Infrastructure LP has a Z-score of -2.39, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
Warning Sign:
Altman Z-score of -2.39 is in distress zone. This implies bankruptcy possibility in the next two years.
* 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.
Evolve Transition Infrastructure LP (AMEX:SNMP) Financial Strength Explanation
The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.
Evolve Transition Infrastructure LP has the Financial Strength Rank of 2. It displays poor financial strength and is likely in financial distress. Usually this is caused by too much debt for the company.
Thank you for viewing the detailed overview of Evolve Transition Infrastructure LP's Financial Strength provided by GuruFocus.com. Please click on the following links to see related term pages.
Stonepeak Gp Holdings Lp | 10 percent owner | 55 HUDSON YARDS, 550 W. 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Stonepeak Gp Investors Holdings Lp | 10 percent owner, other: See Remarks | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Stonepeak Gp Investors Upper Holdings Lp | 10 percent owner, other: See Remarks | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Stonepeak Gp Investors Holdings Manager Llc | 10 percent owner, other: See Remarks | 55 HUDSON YARDS, 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
David D Kinder | director | 510 BERING DRIVE, SUITE 220, HOUSTON TX 77057 |
Michael A Heim | director | TARGA RESOURCES PARTNERS LP, 1000 LOUISIANA STREET, SUITE 4300, HOUSTON TX 77002 |
Michael A. Keuss | officer: President / Chief Oper. Off. | 1360 POST OAK BLVD., SUITE 2400, HOUSTON TX 77056 |
Randall L. Gibbs | director, officer: Chief Executive Officer | 1360 POST OAK BLVD., SUITE 2400, HOUSTON TX 77056 |
Hartigan Jonathan C. M. | officer: President / Chief Invest. Off. | 1360 POST OAK BLVD., SUITE 2400, HOUSTON TX 77056 |
Gerald F Willinger | director | 1360 POST OAK BLVD, SUITE 2400, HOUSTON TX 77056 |
Stonepeak Texas Midstream Holdco Llc | 10 percent owner, other: See Remarks | 550 WEST 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Sanchez Antonio R Iii | director, 10 percent owner | 1360 POST OAK BLVD, SUITE 2400, HOUSTON TX 77056 |
Michael Bricker | director | 55 HUDSON YARDS, 550 W 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
Sp Common Equity Subsidiary Llc | 10 percent owner | 1360 POST OAK BLVD, SUITE 2400, HOUSTON TX 77056 |
Steen John T Iii | director | 55 HUDSON YARDS, 550 W 34TH STREET, 48TH FLOOR, NEW YORK NY 10001 |
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