NGL ENERGY PARTNERS LP Common Units representing Limited Partner Interests (NGL)

FairStock Score: 33/100 — RISKY

Key Financials

AI Analysis

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

I am wary when a midstream partnership offers a turnaround rather than a steady toll road. NGL Energy Partners operates water solutions, crude oil logistics, and liquids logistics—assets that can have local advantages because produced-water handling is difficult to replicate nearby. But the financial record is choppy. In fiscal 2026, the year ended 2026-03-31, revenue was $3.2B and net loss was $142.3M. In fiscal 2025, the year ended 2025-03-31, revenue was $3.5B and net income was $39.4M. In fiscal 2024, the year ended 2024-03-31, revenue was $4.2B and net loss was $143.8M. That is not the consistency I prize. The latest filed quarter, fiscal Q1 2027 ended 2026-06-30, showed revenue of $990.0M and net income of $78.7M—a real improvement. FairStock also notes trailing free cash flow of $101.9M, a 5.4% FCF yield, and a Piotroski F-Score of 6/9. Yet the balance sheet worries me: D/E is 63.12, Altman Z-Score is 0.65, ROE is -37.66%, and ROCE is only 6.19%. At the $14.99 close on 2026-10-13, the negative P/E of -4.57 and EV/EBITDA of 13.61 do not scream bargain. FairStock Score is 33/100. I would want to see several quarters of profit and debt reduction before calling this a durable moat. For now, it is a speculative turnaround, not a Graham-style bargain.

In plain English: NGL Energy Partners moves and handles crude oil, natural gas liquids, and water used in oil and gas production. The business looks mixed: it lost money in its latest full year but made money in the most recent reported quarter. At $14.99, the price does not look clearly cheap against its mixed profits and high debt; it looks fair to expensive unless the recent improvement lasts.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

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

Sources (SEC EDGAR): fiscal Q1 2027 10-Q (period ended 2026-06-30) · fiscal Q3 2026 10-Q (period ended 2025-12-31) · fiscal Q2 2026 10-Q (period ended 2025-09-30) · fiscal Q1 2026 10-Q (period ended 2025-06-30) · FY2026 10-K (period ended 2026-03-31) · FY2025 10-K (period ended 2025-03-31) · FY2024 10-K (period ended 2024-03-31)

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