Company Analysis

Martin Midstream Partners L.P. Limited Partnership (MMLP)

Nasdaq: MMLP · Wholesale-Petroleum Bulk Stations & Terminals · Kilgore, TX · filing with the SEC since 2002
Grade4.8
◀ Past 4.2● Present 4.8▶ Future 5.4
2 est.

The grade of Martin Midstream Partners L.P. Limited Partnership

Nine metrics read from its own filings, by tense
Headline grade
4.8/10
◀ Past4.225% of the headline
● Present4.845% of the headline
▶ Future5.430% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

4.2/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
7.1/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 45% of this tense · 71st percentile among 36 sector filers · read for itself

From the record

Martin Midstream Partners L.P. Limited Partnership's filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.7/10

What has it actually done, year after year?

-1.6% a year over 10 filed years; profitable in 3 of 10.

weight 33% of this tense · 27th percentile among 35 sector filers · read for its customers

From the record

Martin Midstream Partners L.P. Limited Partnership's 10 filed years say what it did: revenue went from $827 million in fiscal 2016 to $716 million in fiscal 2025, down 1.6% a year; it rose in 5 of 9 years; the deepest fall was 34% from fiscal 2018 to fiscal 2020; net income was positive in 3 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span-1.6%bottom 24% of its family
  • the share of years revenue rosebottom 44% of its family
  • the share of filed years with a profitbottom 4% of its family
  • the deepest fall from a revenue peak34.1%bottom 36% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
0.7/10

How has it treated the people who own it?

SI estimate 0.7/10, confidence 35 of 100 (one part).

weight 22% of this tense · 7th percentile among 34 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the cash returned against operating cash flow, which ranks in the bottom 7% of 34 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: cash returned against operating cash flow, the one part on file, ranked among 34 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Martin Midstream Partners L.P. Limited Partnership's shareholder treatment is put at 0.7 of 10 with a confidence of 35 of 100, because read from one part only, the cash returned against operating cash flow, which ranks in the bottom 7% of 34 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.8/1045% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

SI estimate
4.9/10

Is it financially healthy right now?

SI estimate 4.9/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 33 sector filers · read for itself

SI estimate Inferred, not read as filed

Why it is an estimate
No balance sheet on file, so the desk assumes the typical reading of its industry family, the median of 33 members with one.
What the record cannot read
No balance sheet on file.
How it was reasoned
family median, 33 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Martin Midstream Partners L.P. Limited Partnership's financial health is put at 4.9 of 10 with a confidence of 20 of 100, because no balance sheet on file, so the desk assumes the typical reading of its industry family, the median of 33 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

Industry position

as filed
3.0/10

How strong is its position in its industry?

bottom 29% of 35 in its family; net margin -2.1%.

weight 45% of this tense · 29th percentile among 35 sector filers · read for its customers

From the record

Martin Midstream Partners L.P. Limited Partnership's standing among 35 graded names in its industry family: revenue of $716 million in fiscal 2025 ranks in the bottom 43% by size; a net margin of -2.1% ranks in the bottom 24%; revenue growth of -11.1% a year over the last 3 filed years ranks in the bottom 21% (its annual reports).

What it rests on

  • revenue against the family$716Mbottom 43% of its family
  • net margin-2.1%bottom 24% of its family
  • three-year revenue growth-11.1%bottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
8.2/10

What are the people in charge doing?

top 18% of 22 in its family for leadership.

weight 22% of this tense · 82nd percentile among 22 sector filers · read for its shareholders

From the record

Martin Midstream Partners L.P. Limited Partnership's leadership, from its insiders' filings and its current reports: no one files under a chief executive's title, so that part is not read; the 3 officers and directors filing in the last fifteen months have been on the record a median of 15.6 years (top 7%); 1 officer or director change was reported on Form 8-K since 2023-11-13, against the 3 people in charge now (top 29%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge1 in three years among 3 peopletop 29% of its family
  • the median years the people in charge have filed15.6 yearstop 7% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.4/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
5.8/10

How much room does it have to grow?

top 42% of 35 in its family for room to expand.

weight 33% of this tense · 58th percentile among 35 sector filers · read for itself

From the record

Martin Midstream Partners L.P. Limited Partnership's room to grow, from the newest filed statements (fiscal 2025): cash of $49 thousand against debt of $428 million leaves -81.9% of its assets as net cash, bottom 7% of its family; cash from operations less capital spending is 3% of revenue (top 27%); a gross margin of 55.5% (top 8%) (its annual report).

What it rests on

  • cash less debt against assets-81.9%bottom 7% of its family
  • cash from operations less capital spending against revenue3.0%top 27% of its family
  • gross margin55.5%top 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
4.8/10

What could actually drive growth from here?

bottom 48% of 35 in its family for growth drivers.

weight 33% of this tense · 48th percentile among 35 sector filers · read for its customers

From the record

Martin Midstream Partners L.P. Limited Partnership's growth drivers, from the filed years to fiscal 2025: revenue grew -11.1% a year over the last three filed years against -1.6% over all 10, slowing (bottom 30% of its family); the newest year grew 1.2% (top 47%); capital spending grew -3.1% a year (top 39%) (its annual reports). Martin Midstream Partners L.P. Limited Partnership reported 4 lines of business in fiscal 2025: Specialty Products at $249 million (35%), Transportation at $213 million (30%), Sulfur Services at $164 million (23%), and 1 more; 2 of 4 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-9.5 points a yearbottom 30% of its family
  • the newest year's revenue growth1.2%top 47% of its family
  • three-year growth of capital spending-3.1%top 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.8/10

Did its newest year beat what its own record pointed to?

top 42% of 32 in its family for expectations against reality.

weight 33% of this tense · 58th percentile among 32 sector filers · read for its shareholders

From the record

Martin Midstream Partners L.P. Limited Partnership's newest year against its own record: revenue of $716 million in fiscal 2025 came in 21.4% above the $590 million its prior three years' pace pointed to (top 2% of its family); net income of $15 million against a prior three-year average of $7 million (bottom 36%); a net margin of -2.1% against -0.8% before (bottom 39%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace21.4%top 2% of its family
  • net income against the prior three years' average-120%bottom 36% of its family
  • net margin against its prior average-1.3 pointsbottom 39% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton MMLP · research, not advice