Latest Ratios: P/E Ratio 15.9x · EV/EBITDA 5.5x · ROE 3.8%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $368M | $351M | $187M | $226M | $369M | $498M | $492M | $648M | $586M | $624M | $642M |
| Enterprise Value | $1.2B | $1.2B | $1.0B | $1.1B | $1.4B | $1.4B | $1.5B | $1.6B | $1.6B | $1.6B | $1.4B |
| P/E Ratio → | 15.86 | 15.00 | 25.95 | — | 7.24 | 10.77 | 8.66 | 12.78 | 7.14 | 9.18 | 10.49 |
| P/S Ratio | 1.01 | 0.96 | 0.60 | 0.78 | 1.37 | 1.77 | 1.76 | 2.29 | 2.10 | 2.85 | 3.70 |
| P/B Ratio | 0.60 | 0.57 | 0.31 | 0.37 | 0.57 | 0.74 | 0.71 | 0.91 | 0.80 | 0.86 | 1.23 |
| P/FCF | 2.37 | 2.26 | 1.37 | 1.76 | 3.78 | 3.21 | 2.92 | 3.91 | 3.95 | 4.06 | 5.96 |
| P/OCF | 2.36 | 2.25 | 1.36 | 1.72 | 3.66 | 2.99 | 2.91 | 3.91 | 3.94 | 4.04 | 5.92 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.34 | 3.28 | 3.86 | 5.14 | 5.00 | 5.27 | 5.67 | 5.80 | 7.32 | 7.81 |
| EV / EBITDA | 5.53 | 5.46 | 5.58 | 8.28 | 7.95 | 8.12 | 6.90 | 7.34 | 7.44 | 9.59 | 9.80 |
| EV / EBIT | 11.93 | 11.76 | 12.85 | 33.24 | 13.43 | 16.84 | 15.08 | 14.49 | 12.16 | 16.02 | 16.28 |
| EV / FCF | — | 7.84 | 7.53 | 8.70 | 14.14 | 9.07 | 8.71 | 9.66 | 10.92 | 10.44 | 12.60 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.4% | 30.4% | 64.1% | 27.8% | 26.9% | 38.9% | 46.0% | 46.9% | 47.9% | 46.0% | 49.8% |
| Operating Margin | 28.4% | 28.4% | 23.3% | 8.6% | 24.7% | 26.2% | 44.1% | 45.2% | 46.0% | 43.5% | 47.3% |
| Net Profit Margin | 6.4% | 6.4% | 4.5% | -11.8% | 21.8% | 19.2% | 23.4% | 20.9% | 29.4% | 31.1% | 35.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.8% | 3.8% | 2.3% | -5.5% | 8.9% | 7.9% | 9.3% | 8.2% | 11.2% | 10.9% | 11.7% |
| ROA | 1.4% | 1.4% | 0.9% | -2.1% | 3.4% | 3.1% | 3.7% | 3.3% | 4.5% | 4.4% | 4.9% |
| ROIC | 5.3% | 5.3% | 3.7% | 1.2% | 3.1% | 3.4% | 5.5% | 5.6% | 5.6% | 4.9% | 5.1% |
| ROCE | 8.1% | 8.1% | 5.3% | 1.8% | 4.6% | 4.7% | 7.7% | 7.6% | 7.6% | 6.6% | 6.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.54 | 1.54 | 1.48 | 1.58 | 1.62 | 1.44 | 1.48 | 1.40 | 1.47 | 1.41 | 1.42 |
| Debt / EBITDA | 4.28 | 4.28 | 4.93 | 7.08 | 6.10 | 5.60 | 4.84 | 4.57 | 4.94 | 6.13 | 5.36 |
| Net Debt / Equity | — | 1.40 | 1.37 | 1.47 | 1.55 | 1.35 | 1.40 | 1.34 | 1.41 | 1.34 | 1.37 |
| Net Debt / EBITDA | 3.88 | 3.88 | 4.57 | 6.61 | 5.82 | 5.24 | 4.59 | 4.37 | 4.75 | 5.86 | 5.16 |
| Debt / FCF | — | 5.58 | 6.16 | 6.95 | 10.36 | 5.86 | 5.80 | 5.76 | 6.97 | 6.38 | 6.64 |
| Interest Coverage | 1.65 | 1.65 | 1.23 | 0.46 | 2.38 | 2.87 | 3.02 | 2.14 | 2.60 | 3.12 | 3.75 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.26 | 0.26 | 0.33 | 0.70 | 0.22 | 0.64 | 0.31 | 0.51 | 0.41 | 0.46 | 0.40 |
| Quick Ratio | 0.25 | 0.25 | 0.32 | 0.67 | 0.21 | 0.61 | 0.30 | 0.49 | 0.39 | 0.44 | 0.39 |
| Cash Ratio | 0.21 | 0.21 | 0.23 | 0.50 | 0.12 | 0.54 | 0.25 | 0.42 | 0.32 | 0.38 | 0.36 |
| Asset Turnover | — | 0.22 | 0.20 | 0.18 | 0.15 | 0.17 | 0.16 | 0.16 | 0.15 | 0.12 | 0.13 |
| Inventory Turnover | 59.11 | 59.11 | 33.93 | 56.76 | 34.08 | 51.94 | 56.84 | 65.43 | 59.55 | 52.79 | 74.09 |
| Days Sales Outstanding | — | 0.71 | 18.12 | 9.51 | 14.86 | 3.46 | 7.49 | 6.54 | 3.65 | 0.95 | 0.32 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.8% | 3.0% | 5.6% | 4.6% | 21.5% | 15.9% | 16.1% | 12.2% | 13.5% | 11.1% | 9.4% |
| Payout Ratio | 44.7% | 44.7% | 74.0% | — | 135.5% | 147.3% | 121.6% | 134.6% | 96.6% | 101.3% | 98.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.3% | 6.7% | 3.9% | — | 13.8% | 9.3% | 11.6% | 7.8% | 14.0% | 10.9% | 9.5% |
| FCF Yield | 42.2% | 44.3% | 72.9% | 56.9% | 26.4% | 31.1% | 34.3% | 25.6% | 25.3% | 24.6% | 16.8% |
| Buyback Yield | 0.8% | 0.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.6% | 3.8% | 5.6% | 4.6% | 21.5% | 15.9% | 16.1% | 12.2% | 13.5% | 11.1% | 9.4% |
| Shares Outstanding | — | $34M | $34M | $39M | $38M | $37M | $33M | $33M | $33M | $30M | $27M |
High debt service burden
According to current market data, KNOP trades at a P/E of 14.46 and an EV/EBITDA of 5.39, suggesting that investors are heavily discounting the company's future earnings potential due to the significant uncertainty surrounding its long-term contract renewals and the sustainability of its current capital structure.
The low P/B ratio of 0.55 indicates that the market values the company's fleet at a substantial discount to its book value, likely reflecting concerns over the terminal value of older shuttle tankers. This valuation gap suggests that the market is pricing in a high probability of asset impairment or a forced liquidation scenario rather than a stable, ongoing concern.
As reported in financial statements, KNOP's ROIC has struggled to exceed 1.8% over the last ten quarters, indicating that the company is failing to generate returns on its invested capital that meaningfully exceed its cost of debt, thereby eroding shareholder value over the long term.
The persistent inability to drive ROIC above low single digits suggests that the capital-intensive nature of the shuttle tanker business is not being offset by sufficient operational margins. Investors should monitor whether management can improve fleet utilization or if the current asset base is structurally incapable of delivering adequate returns.
Based on the provided quarterly data, KNOP's asset turnover ratio has remained stagnant at approximately 0.05, which, when combined with a volatile cash conversion cycle, suggests that the company is struggling to optimize its working capital and extract maximum efficiency from its specialized maritime assets.
The low asset turnover highlights the heavy capital burden required to maintain DP-enabled vessels, which limits the company's ability to scale revenue without proportional increases in investment. The erratic nature of the cash conversion cycle further implies that the company lacks leverage over its counterparties, potentially leading to liquidity gaps.
According to recent SEC filings, KNOP's debt-to-EBITDA ratio has spiked to over 17x in recent periods, signaling that the company's ability to service its substantial debt load is becoming increasingly precarious as interest expenses consume a larger portion of its operating cash flow.
The interest coverage ratio, which has dipped as low as 0.24, suggests that the company may be relying on external financing or cash reserves to meet its obligations. This level of leverage leaves little room for operational error and warrants extreme caution regarding the company's ability to refinance upcoming debt maturities.
Investors frequently misapply the dividend yield as a primary indicator of value for KNOP, failing to recognize that the recent reduction to $0.01 per unit renders this metric obsolete as a measure of shareholder return and instead highlights the company's urgent need for capital preservation.
Relying on yield in an MLP context often obscures the underlying cash flow volatility and the necessity of debt deleveraging. A more appropriate metric for this business model would be the Cash Available for Distribution (CAFD), which provides a clearer picture of the company's actual ability to fund operations and debt service.
Includes 30+ ratios · 15 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying KNOP stock.
KNOT Offshore Partners LP's current P/E ratio is 15.9x. The historical average is 13.6x. This places it at the 75th percentile of its historical range.
KNOT Offshore Partners LP's current EV/EBITDA is 5.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.7x.
KNOT Offshore Partners LP's return on equity (ROE) is 3.8%. The historical average is 6.8%.
Based on historical data, KNOT Offshore Partners LP is trading at a P/E of 15.9x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
KNOT Offshore Partners LP's current dividend yield is 2.80% with a payout ratio of 44.7%.
KNOT Offshore Partners LP has 30.4% gross margin and 28.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
KNOT Offshore Partners LP's Debt/EBITDA ratio is 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.