Financials Enterprise Products Partners L.P. Mexican S.E.

Equities

EPD *

US2937921078

Oil & Gas Transportation Services

End-of-day quote Mexican S.E. Other stock markets 18:00:00 2023-01-28 EST			5-day change	1st Jan Change
469 ^MXN	-.--%		-.--%	-.--%

06-10	Morgan Stanley Trims Price Target on Enterprise Products Partners to $34 From $35, Maintains Equalweight Rating	MT
05-10	Calumet Specialty Products Partners' Q1 Swings to Loss as Sales Decline	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	61,647	42,763	47,920	52,475	57,229	62,932	-	-
Enterprise Value (EV) ¹	88,937	71,470	74,635	80,564	85,657	92,335	92,438	90,671
P/E ratio	13.5 x	11.5 x	10.5 x	9.65 x	10.5 x	10.7 x	10.1 x	9.93 x
Yield	6.27%	9.11%	8.27%	7.9%	7.61%	7.29%	7.66%	8.08%
Capitalization / Revenue	1.88 x	1.57 x	1.17 x	0.9 x	1.15 x	1.12 x	1.07 x	1.03 x
EV / Revenue	2.71 x	2.63 x	1.83 x	1.38 x	1.72 x	1.64 x	1.57 x	1.49 x
EV / EBITDA	11 x	8.87 x	8.9 x	8.65 x	9.19 x	9.33 x	9.01 x	8.59 x
EV / FCF	36 x	26.8 x	11.9 x	13.1 x	20.1 x	19.3 x	17.9 x	13.2 x
FCF Yield	2.78%	3.74%	8.44%	7.64%	4.97%	5.19%	5.59%	7.59%
Price to Book	2.49 x	1.76 x	1.89 x	1.97 x	2.06 x	2.2 x	2.1 x	2.01 x
Nbr of stocks (in thousands)	2,189,170	2,182,881	2,182,130	2,175,570	2,171,879	2,171,558	-	-
Reference price ²	28.16	19.59	21.96	24.12	26.35	28.98	28.98	28.98
Announcement Date	20-01-30	21-02-03	22-02-01	23-02-01	24-02-01	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	32,789	27,200	40,807	58,186	49,715	56,326	58,736	61,054
EBITDA ¹	8,117	8,056	8,381	9,309	9,318	9,898	10,259	10,558
EBIT ¹	6,079	5,035	6,104	6,907	6,929	7,424	7,748	7,887
Operating Margin	18.54%	18.51%	14.96%	11.87%	13.94%	13.18%	13.19%	12.92%
Earnings before Tax (EBT) ¹	4,733	3,761	4,825	5,697	5,701	6,117	6,468	6,540
Net income ¹	4,591	3,775	4,634	5,487	5,529	5,920	6,232	6,462
Net margin	14%	13.88%	11.36%	9.43%	11.12%	10.51%	10.61%	10.58%
EPS ²	2.090	1.710	2.100	2.500	2.520	2.698	2.871	2.918
Free Cash Flow ¹	2,472	2,670	6,297	6,159	4,256	4,789	5,164	6,884
FCF margin	7.54%	9.82%	15.43%	10.59%	8.56%	8.5%	8.79%	11.28%
FCF Conversion (EBITDA)	30.45%	33.15%	75.13%	66.16%	45.68%	48.38%	50.33%	65.2%
FCF Conversion (Net income)	53.83%	70.74%	135.88%	112.25%	76.98%	80.9%	82.85%	106.53%
Dividend per Share ²	1.765	1.785	1.815	1.905	2.005	2.111	2.221	2.343
Announcement Date	20-01-30	21-02-03	22-02-01	23-02-01	24-02-01	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	11,370	13,008	16,060	15,468	13,650	12,444	10,651	11,998	14,622	14,760	14,082	14,328	14,680	15,105	15,541
EBITDA ¹	2,112	2,257	2,418	2,258	2,376	2,321	2,171	2,327	2,499	2,469	2,404	2,475	2,538	2,497	2,485
EBIT ¹	1,404	1,666	1,764	1,712	1,765	1,734	1,579	1,695	1,921	1,822	1,778	1,869	1,953	1,908	1,786
Operating Margin	12.34%	12.81%	10.98%	11.07%	12.93%	13.93%	14.82%	14.13%	13.14%	12.34%	12.63%	13.04%	13.31%	12.63%	11.49%
Earnings before Tax (EBT) ¹	1,077	1,350	1,457	1,410	1,480	1,432	1,296	1,372	1,601	1,504	1,342	1,490	1,631	1,585	1,422
Net income ¹	1,028	1,296	1,411	1,360	1,420	1,390	1,253	1,318	1,568	1,456	1,383	1,488	1,571	1,522	1,408
Net margin	9.04%	9.96%	8.79%	8.79%	10.4%	11.17%	11.76%	10.99%	10.72%	9.86%	9.82%	10.38%	10.7%	10.08%	9.06%
EPS ²	0.4700	0.5900	0.6400	0.6200	0.6500	0.6300	0.5700	0.6000	0.7200	0.6600	0.6485	0.6845	0.7237	0.6861	0.6752
Dividend per Share ²	0.4650	0.4650	0.4750	0.4750	0.4900	0.4900	0.5000	0.5000	0.5150	0.5150	0.5280	0.5280	0.5425	0.5450	0.5520
Announcement Date	22-02-01	22-05-02	22-08-03	22-11-01	23-02-01	23-05-02	23-08-01	23-10-31	24-02-01	24-04-30	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	27,290	28,708	26,716	28,089	28,428	29,403	29,506	27,740
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.362 x	3.564 x	3.188 x	3.017 x	3.051 x	2.971 x	2.876 x	2.627 x
Free Cash Flow ¹	2,472	2,670	6,297	6,159	4,256	4,789	5,164	6,885
ROE (net income / shareholders' equity)	19.5%	15.4%	18.7%	21.1%	20.4%	21%	20.9%	20.6%
ROA (Net income/ Total Assets)	7.74%	6%	7.04%	8.09%	7.95%	8%	8.1%	7.8%
Assets ¹	59,319	62,920	65,816	67,817	69,545	73,995	76,942	82,849
Book Value Per Share ²	11.30	11.10	11.60	12.30	12.80	13.20	13.80	14.50
Cash Flow per Share ²	2.960	2.680	3.860	3.660	3.450	3.920	4.170	4.120
Capex ¹	4,532	3,288	2,223	1,964	3,266	3,893	3,488	3,147
Capex / Sales	13.82%	12.09%	5.45%	3.38%	6.57%	6.91%	5.94%	5.15%
Announcement Date	20-01-30	21-02-03	22-02-01	23-02-01	24-02-01	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Enterprise Products Partners L.P.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

28.98 USD

Average target price

33.08 USD

Spread / Average Target

+14.14%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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