Genesis Energy L.P. Common Units (GEL)

FairStock Score: 37/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

At $14.50 on 2026-10-13, Genesis Energy is a $1.8 billion midstream partnership with pipelines, marine vessels, and onshore facilities. The assets can be toll-road-like and hard to replace, which is the sort of moat I like. But the financials show a troubled borrower. In fiscal year 2025, the year ended 2025-12-31, Genesis reported revenue of $1.6 billion and a net loss of $440.4 million, or diluted EPS of -$4.19. Fiscal year 2024 also lost $63.9 million, while fiscal year 2023 earned $117.7 million. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, was much better: revenue of $532.0 million, net income of $42.9 million, and diluted EPS of $0.26, versus a net loss of $0.406 million in fiscal Q2 2025. FairStock calculations show trailing free cash flow of $339.6 million, a 19.1% FCF yield, a 5.46% dividend yield, and a debt-to-equity ratio of 7.08. That debt is the crux. ROCE is only 3.84%, FairStock's Altman Z-Score is 0.34, and the FairStock Score is 37/100. FairStock's P/E calculation is 69.05 and EV/EBITDA is 7.80. PEG of 0.07 reflects a rebound from near-zero profit, not durable growth. As Graham would say, the cash flow is attractive, but the balance sheet demands a margin of safety. I see a speculative turnaround, not a clear value bargain.

In plain English: Genesis Energy is a midstream partnership that moves and stores crude oil and natural gas through pipelines, ships, and onshore facilities. The business has produced strong cash flow and a recent quarterly profit, but it lost money in its latest full year and carries a heavy debt load. At $14.50, the price does not look clearly cheap or expensive: it is high compared with reported earnings but low compared with cash flow, so the outcome depends on whether profits keep improving.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer