Martin Midstream Partners L.P.
MMLP Energy Oil & Gas Midstream
Martin Midstream Partners L.P.’s revenue for fiscal 2025 (year ended December 2025) was $716.1 million, up 1.20% from fiscal 2024. In the quarter to June 2026, revenue grew 18.2%, EPS grew 216.7%, free cash flow fell 70.1% and total debt rose 6.06%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.
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Martin Midstream Partners L.P. (MMLP) Piotroski F-score
Martin Midstream Partners L.P.'s Piotroski F-score for fiscal 2025 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 3 | 0.00 |
| FY2024 | 3 | (2.00) |
| FY2023 | 5 | 1.00 |
| FY2022 | 4 | (1.00) |
| FY2021 | 5 | (1.00) |
| FY2020 | 6 | 1.00 |
| FY2019 | 5 | (2.00) |
| FY2018 | 7 | 2.00 |
| FY2017 | 5 | (1.00) |
| FY2016 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (2.71%) | (0.97%) | Fail | 0 |
| Positive operating cash flow | 46.13m | 48.35m | Pass | 1 |
| Rising return on assets | (2.71%) | (0.97%) | Fail | 0 |
| Cash flow above net income | 60.52m | 53.43m | Pass | 1 |
| Falling long-term leverage | 0.81 | 0.84 | Pass | 1 |
| Rising current ratio | 1.05 | 1.13 | Fail | 0 |
| No new shares issued | 38,890,000 | 38,831,000 | Fail | 0 |
| Rising gross margin | 55.51% | 58.02% | Fail | 0 |
| Rising asset turnover | 1.35 | 1.35 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 3 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| BROGF Brooge Energy Limited compare | 8 |
| KNOP KNOT Offshore Partners LP compare | 7 |
| DLNG Dynagas LNG Partners LP compare | 7 |
| PXS Pyxis Tankers Inc. compare | 7 |
| IMPP Imperial Petroleum Inc. compare | 5 |
| TMDE TMD Energy Limited compare | 4 |
| MMLP Martin Midstream Partners L.P. | 3 |
| NFE New Fortress Energy LLC compare | 2 |
| TORO Toro Corp. compare | 2 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover