MMLP (Martin Midstream Partners LP) Scaled Net Operating Assets: 0.83 (As of Mar. 2026)


MMLP Martin Midstream Partners LP MMLP
53 GF Score
Price $2.32
GF Value $2.74
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Martin Midstream Partners LP Scaled Net Operating Assets?

Martin Midstream Partners LP MMLP +5.05% 53 Scaled Net Operating Assets is 0.83 as of Mar. 2026. GuruFocus rates MMLP with a GF Score™ of 53/100 and a GF Value™ of $2.74 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Martin Midstream Partners LP's operating assets for the quarter that ended in Mar. 2026 was $537.1 Mil. Martin Midstream Partners LP's operating liabilities for the quarter that ended in Mar. 2026 was $103.5 Mil. Martin Midstream Partners LP's Total Assets for the quarter that ended in Dec. 2025 was $522.4 Mil. Therefore, Martin Midstream Partners LP's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.83.


Martin Midstream Partners LP Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Martin Midstream Partners LP's Scaled Net Operating Assets 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.

Martin Midstream Partners LP Scaled Net Operating Assets Chart

Martin Midstream Partners LP Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.82 0.84 0.70 0.85 0.77

Martin Midstream Partners LP Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.83 0.79 0.83 0.81 0.83

MMLP vs DLNG, TORO, PXS: Scaled Net Operating Assets Comparison

For the Oil & Gas Midstream subindustry, Martin Midstream Partners LP's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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.


Martin Midstream Partners LP Scaled Net Operating Assets vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Martin Midstream Partners LP's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Martin Midstream Partners LP's Scaled Net Operating Assets falls into.


MMLP
53GF Score
Martin Midstream Partners LP MMLP
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Martin Midstream Partners LP Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Martin Midstream Partners LP's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(522.369-109.755)/538.509
=0.77

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=522.418 - 0.049
=522.369

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=608.213 - 476.4 - 22.058
=109.755

Martin Midstream Partners LP's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(537.08-103.492)/522.418
=0.83

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=537.129 - 0.049
=537.08

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=629.838 - 503.046 - 23.3
=103.492

* 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.

What does a Scaled Net Operating Assets of 0.83 mean?
Martin Midstream Partners LP (MMLP) has a Scaled Net Operating Assets of 0.83 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Martin Midstream Partners LP and its competitors.
Is Martin Midstream Partners LP's Scaled Net Operating Assets too high?
Martin Midstream Partners LP's current Scaled Net Operating Assets is 0.83. Overall, Martin Midstream Partners LP has a GF Score™ of 53/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Martin Midstream Partners LP's Scaled Net Operating Assets compare to DLNG and TORO?
Martin Midstream Partners LP's Scaled Net Operating Assets of 0.83 can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for an Oil & Gas company?
A good Scaled Net Operating Assets depends on the Oil & Gas industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Martin Midstream Partners LP and its competitors. Martin Midstream Partners LP's current Scaled Net Operating Assets is 0.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Martin Midstream Partners LP stock overvalued right now?
Based on GuruFocus' analysis, Martin Midstream Partners LP (MMLP) is currently considered Modestly Undervalued. The stock's GF Value™ is $2.74, compared to a current price of $2.32 — trading 15.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.83. Martin Midstream Partners LP's overall GF Score™ is 53/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Martin Midstream Partners LP (MMLP), the current Scaled Net Operating Assets is 0.83 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Martin Midstream Partners LP (MMLP) Overvalued in 2026?

Based on GuruFocus' analysis, Martin Midstream Partners LP stock appears to be undervalued. The current stock price of $2.32 is trading 15.3% below its estimated GF Value™ of $2.74. GuruFocus considers Martin Midstream Partners LP to be Modestly Undervalued.

Key valuation signals for MMLP:

  • Scaled Net Operating Assets: 0.83
  • GF Value™: $2.74 vs. price of $2.32 (15.3% below fair value)
  • GF Score™: 53/100 with 5 warning signs

No single metric tells the full story. See the MMLP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Martin Midstream Partners LP Business Description

Industry EnergyOil & Gas
Address 4200 Stone Road, Kilgore, TX, USA, 75662
Martin Midstream Partners LP has a diverse set of operations focused on the United States Gulf Coast region. The company's business lines include terminalling, processing, storage, and packaging services for petroleum products and by-products, including the refining of naphthenic crude oil; land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; sulfur and sulfur-based products processing, manufacturing, marketing, and distribution; and natural gas liquids marketing, distribution and transportation services. The company operates in four segment Terminalling and storage, Transportation, Sulfur service, and Specialty products segment. The majority of the revenue is derived from the Specialty products segment.
53GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$2.32
Price
$2.74
GF Value