KNOT Offshore Partners LP(KNOP)Earnings, Financials & Key Ratios
KNOP•NYSE
$10.35
15.0× P/E·Price updated Jul 6, 2026
AboutKNOT Offshore Partners LP owns, acquires, and operates shuttle tankers under long-term charters in the North Sea and Brazil. The company provides loading, transportation, discharge, and storage of crude oil under time charters and bareboat charters. As of March 17, 2022, it operated a fleet of seventeen shuttle tankers. The company was founded in 2013 and is headquartered in Aberdeen, the United Kingdom.Show more
- Revenue$364M+16.6%
- EBITDA$223M+21.5%
- Net Income$23M+65.4%
- EPS (Diluted)0.69+228.6%
- Gross Margin30.45%-52.5%
- EBITDA Margin61.26%+4.2%
- Operating Margin28.42%+21.8%
- Net Margin6.38%+41.9%
- ROE3.78%+63.6%
KNOP Price & Volume
KNOT Offshore Partners LP (KNOP) stock price & volume — 10-year historical chart
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Volatile Margins Mask Persistent Debt Service Risks
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Vulnerable
Cash Flow:Mixed
Primary Risk:High debt service burden
Key Thesis Takeaways
- KNOT Offshore Partners LP faces a challenging outlook characterized by significant revenue volatility and structural margin compression, as evidenced by the decline in gross margins from 62.7% in 2025Q1 to 18.7% in 2026Q1.
- While the company maintains stable free cash flow margins between 35% and 45%, its reliance on external financing and a precarious current ratio of 0.25 suggest limited financial flexibility.
- Investors should monitor the company's ability to manage its $929.6M debt load against the backdrop of inconsistent operational performance and rising deferred revenue.
Verdict Logic
the company's precarious liquidity position, evidenced by a 0.25 current ratio and a high debt-to-equity ratio of 1.50, presents significant risks to long-term capital stability.
KNOP Growth Metrics
KNOT Offshore Partners LP (KNOP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years8.92%
5 Years5.47%
3 Years10.71%
TTM14.24%
Profit CAGR
10 Years-5.38%
5 Years-18.64%
3 Years-26.54%
TTM28.84%
EPS CAGR
10 Years-8.07%
5 Years-16.89%
3 Years-19.65%
TTM42.57%
Return on Capital
10 Years6.1%
5 Years4.9%
3 Years5.08%
Last Year8.15%
KNOP Recent Earnings
KNOT Offshore Partners LP (KNOP) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
May 28, 2026Metric
Actual
Est
EPS
$0.08-52.9%
$0.17
Rev
$92M+1.8%
$90M
Q2 2026
Mar 25, 2026Metric
Actual
Est
EPS
$0.28+33.3%
$0.21
Rev
$96M+0.7%
$96M
Q4 2025
Dec 4, 2025Metric
Actual
Est
EPS
$0.45+246.2%
$0.13
Rev
$97M+1.0%
$96M
Q4 2025
Sep 25, 2025Metric
Actual
Est
EPS
$0.20+17.6%
$0.17
Rev
$87M+2.6%
$85M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 28, 2026 | $0.08vs $0.17-52.9% | $92Mvs $90M+1.8% |
| Q2 2026 | Mar 25, 2026 | $0.28vs $0.21+33.3% | $96Mvs $96M+0.7% |
| Q4 2025 | Dec 4, 2025 | $0.45vs $0.13+246.2% | $97Mvs $96M+1.0% |
| Q4 2025 | Sep 25, 2025 | $0.20vs $0.17+17.6% | $87Mvs $85M+2.6% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for KNOT Offshore Partners LP (KNOP)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $10.35 | $348.38M | 15.00 | 16.57% | 6.38% | 3.78% | 2.96% | |
| $10.42 | $906.66M | 9.22 | -22.19% | 7.95% | 4.09% | — | |
| $68.76 | $2.38B | 6.81 | -22.58% | 42.6% | 21.4% | — | |
| $5.83 | $1.23B | 100.52 | -16.39% | 16.26% | 11.76% | — | |
| $35.37 | $1.07B | 7.95 | -0.67% | 17.71% | 7.86% | — | |
| $36.87 | $8.21B | 21.69 | -4.16% | 40.19% | 36.04% | — |
Compare KNOP vs Peers
KNOT Offshore Partners LP (KNOP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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KNOP Frequently Asked Questions
KNOT Offshore Partners LP (KNOP) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is KNOT Offshore Partners LP's revenue?
KNOT Offshore Partners LP (KNOP) reported $372.4M in revenue for fiscal year 2025. This represents a 748% increase from $43.9M in 2011.
How fast is KNOT Offshore Partners LP growing?
KNOT Offshore Partners LP (KNOP) grew revenue by 16.6% over the past year. This is strong growth.
Is KNOP profitable?
Yes, KNOT Offshore Partners LP (KNOP) is profitable, generating $18.3M in net income for fiscal year 2025 (6.4% net margin).
Dividend & Returns
Does KNOP pay dividends?
Yes, KNOT Offshore Partners LP (KNOP) pays a dividend with a yield of 2.96%. This makes it attractive for income-focused investors.
What is KNOP's return on equity?
KNOT Offshore Partners LP (KNOP) has a return on equity (ROE) of 3.8%. This is below average, suggesting room for improvement.
What is KNOT Offshore Partners LP's free cash flow?
KNOT Offshore Partners LP (KNOP) generated $153.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.