Navios Maritime Partners L.P. Partnership Units (NMM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$4.32	$4.65	+7.6%	—	$410.2M	—
Q1 26	$2.78	$3.35	+20.5%	—	$357M	—
Q4 25	$2.13	$3.4	+59.6%	—	$365.6M	—
Q3 25	$2.55	$2.83	+11.0%	—	$346.9M	—
Q2 25	$1.77	$2.15	+21.5%	—	$327.6M	—
Q1 25	$1.42	$1.58	+11.3%	—	$304.1M	—
Q4 24	$2.5	$2.61	+4.4%	—	$332.5M	—
Q3 24	$3.67	$3.15	-14.2%	—	$340.8M	—
Q2 24	$2.84	$3.06	+7.7%	—	$342.2M	—
Q1 24	$2.01	$2.32	+15.4%	—	$318.6M	—
Q4 23	$2.62	$4.32	+64.9%	—	$327.3M	—
Q3 23	$2.68	$2.68	0.0%	—	$323.2M	—
Q2 23	$2.88	$3.65	+26.7%	—	$346.9M	—
Q1 23	$1.71	$2.13	+24.6%	—	$309.5M	—
Q4 22	$4.25	$3.66	-13.9%	—	$370.9M	—
Q3 22	$4.16	$3.68	-11.5%	—	$322.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$9.59	—	—	$1.3B	—
FY24	—	$12	—	—	$1.3B	—
FY23	—	$14.1	—	—	$1.3B	—
FY22	—	$18.8	—	—	$1.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$190.5M	$211.7M	$231.4M	$219.4M	$226.8M	$713.2M	$1.2B	$1.3B	$1.3B	$1.3B
YoY change	-14.8%	+11.1%	+9.31%	-5.18%	+3.37%	+214.5%	+69.7%	+7.96%	+2.08%	+0.76%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	190.5M	211.7M	231.4M	219.4M	226.8M	713.2M	1.2B	1.3B	1.3B	1.3B
Cost of revenue	163.6M	151.4M	143.4M	140.8M	171.1M	369.7M	693.2M	779.2M	801.2M	861.1M
Gross profit	26.9M	60.3M	88M	78.6M	55.6M	343.5M	517.3M	527.7M	532.8M	483.1M
Gross margin	14.1%	28.5%	38%	35.8%	24.5%	48.2%	42.7%	40.4%	39.9%	35.9%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	12.4M	17.2M	18.5M	21M	24M	41.5M	67.2M	80.6M	85.2M	92M
Operating expenses	12.4M	17.2M	18.5M	21M	24M	41.5M	67.2M	80.6M	85.2M	92M
Operating income	14.5M	43.1M	69.5M	57.6M	31.6M	302M	450.1M	447.2M	447.7M	391M
Operating margin	7.63%	20.4%	30%	26.3%	13.9%	42.4%	37.2%	34.2%	33.6%	29.1%
Non-operating income, net	-36.4M	-23M	-44.2M	-80.7M	-76.6M	251.1M	211.4M	109.4M	30.4M	16.3M
Pretax income	-52.5M	-14.9M	-13.1M	-62.1M	-68.5M	511.3M	579.2M	433.6M	367.3M	285.3M
Income tax	—	—	—	—	—	—	—	—	—	—
Net income	-52.5M	-14.9M	-13.1M	-62.1M	-68.5M	511.3M	579.2M	433.6M	367.3M	285.3M
Net margin	-27.6%	-7.02%	-5.65%	-28.3%	-30.2%	71.7%	47.9%	33.2%	27.5%	21.2%
EBITDA	117.7M	124.7M	132.4M	73.4M	91.1M	595.3M	718.7M	743.8M	691.6M	736.6M
EPS	-9.3	-1.65	-1.18	-5.62	-6.13	22.4	18.8	14.1	12	9.59
Diluted EPS	-9.3	-1.65	-1.18	-5.62	-6.13	22.3	18.8	14.1	12	9.59

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	323.2M	327.3M	318.6M	342.2M	340.8M	332.5M	304.1M	327.6M	346.9M	365.6M	357M	410.2M
Cost of revenue	193.2M	198M	200M	200.5M	199.7M	201M	203.5M	209.4M	236.8M	211.3M	207.6M	224.1M
Gross profit	130M	129.2M	118.6M	141.6M	141.1M	131.5M	100.6M	118.2M	110.1M	154.2M	149.4M	186M
Gross margin	40.2%	39.5%	37.2%	41.4%	41.4%	39.5%	33.1%	36.1%	31.7%	42.2%	41.9%	45.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	19.5M	21M	20.7M	20.6M	21.1M	22.7M	22M	23.4M	23.1M	23.6M	23.8M	24.4M
Operating expenses	19.5M	21M	20.7M	20.6M	21.1M	22.7M	22M	23.4M	23.1M	23.6M	23.8M	24.4M
Operating income	110.5M	108.2M	97.9M	121M	120M	108.8M	78.6M	94.7M	87M	130.6M	125.6M	161.6M
Operating margin	34.2%	33.1%	30.7%	35.4%	35.2%	32.7%	25.9%	28.9%	25.1%	35.7%	35.2%	39.4%
Non-operating income, net	7.9M	53.8M	1.5M	6.9M	6.9M	15M	-6.8M	5.6M	814K	16.6M	8.1M	31.5M
Pretax income	89.8M	132.4M	73.4M	101.5M	97.8M	94.7M	41.7M	69.9M	56.3M	117.3M	106.3M	167.9M
Income tax	—	—	—	—	—	—	—	—	—	—	—	—
Net income	89.8M	132.4M	73.4M	101.5M	97.8M	94.7M	41.7M	69.9M	56.3M	117.3M	106.3M	167.9M
Net margin	27.8%	40.5%	23%	29.7%	28.7%	28.5%	13.7%	21.4%	16.2%	32.1%	29.8%	40.9%
EBITDA	171.6M	222.1M	155.7M	164.5M	156.4M	170.5M	158M	176.2M	197.6M	204.8M	208M	245.1M
EPS	2.92	—	2.38	3.3	3.2	—	1.38	2.34	1.9	—	3.64	5.78
Diluted EPS	2.91	—	2.38	3.3	3.2	—	1.38	2.34	1.9	—	3.64	5.78

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	119.5M	—	—	201.7M	125.2M	—	—	843.9M	1.3B	1.5B	2.6B
Enterprise value	625.9M	—	—	592.9M	543.2M	—	—	1.7B	2.3B	2.7B	4.6B
Shares outstanding	5.7M	9.1M	10.8M	10.8M	11.2M	22.6M	30.2M	30.2M	30M	29.1M	29.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	—	1.95	3.54	5.35	5.91
P/S	0.63	—	—	0.92	0.55	—	—	0.65	0.97	1.14	1.77
P/B	0.18	—	—	0.28	0.19	—	—	0.3	0.42	0.46	0.73
EV/EBITDA	5.32	—	—	8.07	5.96	—	—	2.32	3.38	3.71	5.55
EV/Sales	3.29	—	—	2.7	2.4	—	—	1.32	1.75	2.03	3.14
Earnings yield	—	—	—	—	—	—	—	51.4%	28.3%	18.7%	16.9%
FCF yield	38.9%	—	—	23.2%	8.77%	—	—	11.3%	-40.3%	-2.36%	-6.19%
PEG	—	—	—	—	—	—	—	—	—	—	0.04

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	14.1%	28.5%	38%	35.8%	24.5%	48.2%	42.7%	40.4%	39.9%	35.9%	45.4%
Operating margin	7.63%	20.4%	30%	26.3%	13.9%	42.4%	37.2%	34.2%	33.6%	29.1%	38.8%
Net margin	-27.6%	-7.02%	-5.65%	-28.3%	-30.2%	71.7%	47.9%	33.2%	27.5%	21.2%	30.3%
ROE	-7.73%	-1.93%	-1.68%	-8.53%	-10.5%	28.9%	24.7%	15.7%	11.8%	8.54%	13.2%
ROA	-4.14%	-1.14%	-1%	-4.96%	-5.68%	14.1%	11.8%	8.42%	6.47%	4.81%	5.05%
Return on tangible assets	-4.27%	-1.15%	-1%	-4.98%	-5.7%	14.9%	12.2%	8.63%	6.57%	4.82%	7.15%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.57	1.11	2.12	0.95	0.24	0.57	0.5	0.87	1.08	1.13	1.53
Quick ratio	0.57	1.11	2.1	0.87	0.22	0.52	0.45	0.79	1	1.05	1.53
Debt / equity	0.77	0.64	0.62	0.57	0.67	0.6	0.5	0.42	0.43	0.48	0.69
Debt / assets	0.41	0.38	0.37	0.33	0.36	0.29	0.24	0.23	0.23	0.27	0.26
Net debt / EBITDA	4.3	3.76	3.21	5.33	4.59	1.51	1.42	1.19	1.5	1.64	1.37
Interest coverage	-0.68	0.61	0.69	-0.37	-1.84	13	7.97	4.24	3.95	3.38	4.96

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	33.7	23.1	21.4	20.3	20.3	31.5	40.1	43.3	44.4	46.1	51
EPS (basic)	-9.3	-1.65	-1.18	-5.62	-6.13	22.4	18.8	14.1	12	9.59	9.59
EPS (diluted)	-9.3	-1.65	-1.18	-5.62	-6.13	22.3	18.8	14.1	12	9.59	15.3
Book value per share	120.4	83.9	71.8	67.2	58.6	78.2	77.7	91.8	103.5	114.7	124
FCF per share	8.22	-11.8	-4.66	4.31	0.98	-0.08	-3.46	3.16	-17.4	-1.24	-5.83
Cash per share	3.07	2.63	5.41	2.16	1.73	7.05	5.23	9.52	9.41	14.2	16.2
Capex per share	2.72	5.16	3.93	1.64	6.7	6.98	10.8	6.83	27.2	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	8.05%	22.3%	18.4%	8.08%	33%	22.1%	26.9%	15.8%	61.2%	—	—
Capex / operating cash flow	121.7%	201.4%	130.3%	-93.3K%	-523.5%	39%	47.1%	30.8%	153.8%	—	—
Payout ratio	0%	0%	-78.4%	-21.8%	-11.5%	0.9%	1.06%	1.42%	1.67%	2.09%	1.37%
Dividend yield	0%	—	—	6.72%	6.29%	—	—	0.73%	0.47%	0.39%	0.27%

Yield

0.27%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.06

ex-dividend Aug 10, 2026

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 10, 2026	$0.06
May 11, 2026	$0.06
Aug 11, 2025	$0.05

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$323.2M	$327.3M	$318.6M	$342.2M	$340.8M	$332.5M	$304.1M	$327.6M	$346.9M	$365.6M	$357M	$410.2M
YoY change	+0.24%	-11.8%	+2.92%	-1.38%	+5.46%	+1.61%	-4.53%	-4.27%	+1.79%	+9.93%	+17.4%	+25.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	17.4M	24M	58.6M	23.4M	19.3M	159.5M	157.8M	287.4M	282.5M	413.3M
Receivables	10M	14.1M	14.4M	11.3M	17M	23.8M	75M	42.2M	33.4M	34.1M
Inventory	220K	220K	1M	6.3M	6.3M	21.1M	32.7M	37.6M	32.8M	31.9M
Total current assets	56.3M	60.3M	111.1M	76M	60.8M	226.3M	310.4M	399.7M	443M	512.1M
Property, plant & equipment	-317.1M	-321.1M	-317M	-294.3M	-260.3M	-123.7M	26.9M	16.3M	-120.8M	-280.5M
Goodwill & intangibles	37.9M	16.2M	8.7M	6.3M	4M	200.8M	157.4M	120.9M	84.6M	6.5M
Total assets	1.3B	1.3B	1.3B	1.3B	1.2B	3.6B	4.9B	5.1B	5.7B	5.9B
Accounts payable	3.3M	3.7M	4M	6.9M	5.5M	17.4M	25.4M	24M	17M	14.6M
Short-term debt	74M	26.6M	25.1M	55M	196.7M	191.1M	214M	176.5M	188.8M	160.7M
Total current liabilities	99M	54.2M	52.3M	79.8M	253.3M	395.5M	617.7M	459.6M	409.7M	455.1M
Long-term debt	449.7M	466.9M	458.6M	359.6M	240.5M	866.5M	961M	992.4M	1.1B	1.5B
Total liabilities	588.4M	537.6M	537.4M	525.5M	552.4M	1.9B	2.6B	2.4B	2.6B	2.6B
Shareholders' equity	680.2M	767.7M	776.8M	728M	654.8M	1.8B	2.3B	2.8B	3.1B	3.3B
Total debt	523.8M	493.5M	483.7M	414.6M	437.3M	1.1B	1.2B	1.2B	1.3B	1.6B
Net debt	506.4M	469.4M	425.1M	391.3M	417.9M	898.1M	1B	928.5M	1.1B	1.2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	260.5M	287.4M	309.5M	310.5M	331.1M	282.5M	342.4M	388.4M	381M	413.3M	421M	469.1M
Receivables	38.3M	42.2M	43.1M	40.9M	27.2M	33.4M	32.2M	21.3M	31.9M	34.1M	46.4M	50.6M
Inventory	—	37.6M	—	—	—	32.8M	—	—	—	31.9M	—	—
Total current assets	383.2M	399.7M	443.3M	448.8M	472.9M	443M	443.3M	500.8M	476.3M	512.1M	533.1M	602.3M
Property, plant & equipment	73.7M	16.3M	27.2M	2.4M	-72.6M	-120.8M	-385.4M	-416M	-368.2M	-280.5M	-319.2M	-289.9M
Goodwill & intangibles	129.9M	120.9M	111.8M	102.7M	93.6M	84.6M	75.7M	67.3M	9.6M	6.5M	3.4M	266K
Total assets	5.1B	5.1B	5.2B	5.3B	5.5B	5.7B	5.7B	5.9B	5.9B	5.9B	6B	6.3B
Accounts payable	17.4M	24M	16.9M	18.4M	17.8M	17M	12.5M	18.6M	14.6M	14.6M	13.9M	10.6M
Short-term debt	183.8M	176.5M	180.8M	347.3M	198.7M	188.8M	188.1M	181.6M	187.4M	160.7M	162.3M	159.9M
Total current liabilities	461.7M	459.6M	497.6M	650.3M	418.9M	409.7M	439.3M	459M	463M	455.1M	367.5M	393.5M
Long-term debt	1B	992.4M	1B	912.1M	1.2B	1.1B	1.1B	1.2B	1.3B	1.5B	1.5B	1.5B
Total liabilities	2.4B	2.4B	2.4B	2.4B	2.5B	2.6B	2.6B	2.7B	2.7B	2.6B	2.6B	2.7B
Shareholders' equity	2.6B	2.8B	2.8B	2.9B	3B	3.1B	3.1B	3.2B	3.2B	3.3B	3.4B	3.6B
Total debt	1.2B	1.2B	1.2B	1.3B	1.4B	1.3B	1.3B	1.4B	1.4B	1.6B	1.6B	1.6B
Net debt	953.4M	928.5M	1B	987.4M	1.1B	1.1B	994.2M	991.3M	1.1B	1.2B	1.2B	1.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-52.5M	-14.9M	-13.1M	-62.1M	-68.5M	511.3M	579.2M	433.6M	367.3M	285.3M
Depreciation & amortization	92.4M	72.8M	58.3M	53.6M	57M	112.4M	205.7M	226.7M	225.5M	348.2M
Stock-based compensation	93K	1.9M	2.5M	2M	946K	523K	154K	4K	0	0
Change in working capital	-26.5M	-32.8M	-11.4M	24.5M	9.4M	-34.1M	-37.8M	24M	5.7M	41.4M
Operating cash flow	12.6M	23.4M	32.6M	-19K	-14.3M	404.1M	691.8M	668.1M	531.1M	505M
Capital expenditure	-15.3M	-47.2M	-42.5M	-17.7M	-74.9M	-157.8M	-326.1M	-206M	-816.8M	—
Investing cash flow	5.1M	-197.2M	-67.9M	-17M	-83.9M	-106.3M	-316.2M	-253M	-816.8M	—
Dividends paid	0	0	-10.3M	-13.6M	-7.9M	-4.6M	-6.2M	-6.2M	-6.1M	-6M
Share repurchases	—	0	0	-4.5M	0	0	—	—	-25M	-43M
Financing cash flow	-76.3M	138.6M	31.1M	-84.4M	-9.9M	-32.2M	-184.4M	-233.2M	349.3M	-53.8M
Net change in cash	-58.7M	-35.2M	-4.2M	-101.5M	-108.1M	265.7M	191.1M	181.9M	63.5M	451.2M
Free cash flow	46.5M	-107.5M	-50.4M	46.7M	11M	-1.7M	-104.2M	95.3M	-523.7M	-36M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	89.8M	132.4M	73.4M	101.5M	97.8M	94.7M	41.7M	69.9M	56.3M	117.3M	106.3M	167.9M
Depreciation & amortization	57.1M	56.2M	54.8M	40.2M	27.2M	58.7M	78.5M	80.6M	108.9M	80.3M	81.5M	82.8M
Stock-based compensation	1K	1K	0	0	0	0	—	—	—	—	—	—
Change in working capital	-16M	3.3M	8.1M	-9.8M	3.4M	4M	31.8M	12.4M	-6M	3.2M	-26.7M	-554K
Operating cash flow	131.3M	177.2M	129M	137.4M	136M	128.7M	120.5M	121.6M	103.1M	123.7M	126.6M	186.6M
Capital expenditure	-104.1M	-133.6M	-129.5M	-172.9M	-320.6M	-193.8M	-125M	—	—	—	—	—
Investing cash flow	-104.1M	-133.6M	-168.1M	-172.9M	-320.6M	-193.8M	-125M	—	—	—	—	—
Dividends paid	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.5M	-1.7M
Share repurchases	0	—	—	-5M	-10M	-10M	-10M	-13M	-10M	-10M	-10.2M	-9.8M
Financing cash flow	-17.1M	-51.1M	57.3M	41.4M	191.5M	59.1M	-630K	68.9M	-49.6M	-72.5M	44M	43.7M
Net change in cash	10.2M	-7.5M	18.2M	5.9M	6.9M	-6.1M	-5.1M	190.6M	53.5M	51.3M	170.6M	230.4M
Free cash flow	-5.4M	56.5M	-44.6M	-123.3M	-190.5M	-165.3M	24M	-49.1M	867K	-11.8M	-65.6M	-89.2M

Navios Maritime Partners L.P. Partnership Units Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history