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GLOP-PA

GasLog Partners LP

GLOP-PA

GasLog Partners LP • NYSE
$25.51 ▼ -0.05% (-0.01)
Market Cap $436.59 M
52w High $26.30
52w Low $23.75
Dividend Yield 2.16%
P/E -57.71
Volume 6.43K
Outstanding Shares 17.12M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $70.236M ▼ $3.079M ▼ $-17.861M ▼ -25.43% ▼ $-0.35 ▼ $11.781M ▼
Q1-2025 $80.272M ▼ $3.801M ▼ $25.789M ▲ 32.127% ▲ $0.5 ▲ $55.162M ▲
Q4-2024 $85.225M ▼ $4.331M ▲ $17.959M ▼ 21.072% ▼ $0.35 ▼ $48.329M ▼
Q3-2024 $85.67M ▼ $3.65M ▼ $44.488M ▲ 51.929% ▲ $0.87 ▲ $71.521M ▲
Q2-2024 $87.273M $4.051M $38.551M 44.173% $0.75 $64.648M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $2.299M ▼ $1.358B ▼ $119.47M ▼ $1.238B ▼
Q1-2025 $7.227M ▼ $1.417B ▼ $138.795M ▼ $1.278B ▼
Q4-2024 $7.771M ▲ $1.446B ▼ $149.414M ▼ $1.297B ▼
Q3-2024 $3.803M ▼ $1.484B ▼ $158.178M ▲ $1.325B ▼
Q2-2024 $3.821M $1.61B $124.022M $1.486B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2023 $36.375M ▼ $66.771M ▼ $106.24M ▲ $-145.759M ▼ $27.496M ▼ $63.334M ▼
Q4-2022 $40.593M ▼ $92.028M ▲ $48.956M ▲ $-82.507M ▲ $59.166M ▲ $91.101M ▲
Q3-2022 $42.651M ▲ $63.535M ▼ $38.55M ▲ $-110.401M ▼ $-8.316M ▼ $63.136M ▼
Q2-2022 $761K ▼ $63.558M ▲ $-10.141M ▼ $-42.078M ▲ $11.339M ▲ $63.31M ▲
Q1-2022 $34.981M $58.623M $-955K $-67.265M $-9.597M $57.652M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the last several years with a mild upward trend, but the real story is on profitability. The partnership has moved from almost flat earnings a few years ago to clearly solid profits more recently. Operating and EBITDA margins look healthy for a shipping business, suggesting strong charter rates and good cost control. The improvement in net income and per‑unit earnings signals that the fleet is being employed efficiently and financing costs are better managed, though results still depend heavily on maintaining favorable charter contracts and high utilization of vessels.

Balance Sheet

Balance Sheet The balance sheet shows a shift from a more leveraged, asset‑heavy profile to a leaner, less indebted one. Total assets have drifted down, which likely reflects a combination of ship depreciation and a pause in major fleet expansion rather than growth for growth’s sake. Debt has been cut back significantly, while equity has grown, so the capital structure is now more conservative than it was a few years ago. The main trade‑off is that cash on hand is quite modest, meaning liquidity relies more on ongoing cash generation and credit access than on a large cash cushion.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been consistently solid and comfortably above maintenance spending, leaving healthy free cash flow each year. Investment in new assets has been relatively light recently, which boosts near‑term free cash but also suggests the current focus is on harvesting value from the existing fleet rather than rapid expansion. Overall, the cash flow profile looks stable and predictable for a shipping business that depends on multi‑year contracts, but it will need continued contract renewals to stay that way.

Competitive Edge

Competitive Edge GasLog Partners operates in the LNG shipping niche, which benefits from long‑term energy trade flows and specialized vessels. Its modern, fuel‑efficient fleet, especially ships with advanced propulsion systems, positions it as a preferred counterparty for large energy companies. Long‑term charters with blue‑chip customers help smooth revenue and reduce exposure to short‑term freight rate swings. In‑house ship management, strong safety standards, and a good operating track record deepen customer relationships and form a practical moat. The key competitive risks are the capital‑intensive nature of the industry, future overcapacity if too many new ships enter the market, and evolving environmental rules that could make older vessels less attractive or more costly to operate.

Innovation and R&D

Innovation and R&D Innovation here is less about lab research and more about technology embedded in the fleet and operations. GasLog Partners has invested in modern propulsion systems that cut fuel use and emissions, which is increasingly important as regulators and customers push for cleaner shipping. Its digital engine management initiatives, using data and “digital twin” models, are aimed at squeezing more efficiency and reliability from existing ships. The partnership is also exploring future fuels like ammonia and hydrogen through collaborations, which, if successful, could keep its fleet relevant in a decarbonizing world. Expansion into floating storage and regasification units adds another innovative angle, allowing the business to play a broader role in the LNG value chain rather than only moving cargo from port to port.

Summary

Overall, GasLog Partners combines a solid recent earnings record and strong cash generation with a more conservative balance sheet than in the past. The business model leans on long‑term LNG shipping contracts, which provide visibility but depend on ongoing customer demand and successful charter renewals. Technologically, the fleet is relatively advanced and the company is actively using digital tools and exploring cleaner fuels, which may support its competitiveness as environmental standards tighten. Key uncertainties revolve around the cyclicality of shipping, future LNG demand patterns, regulatory changes, and the need for periodic reinvestment in the fleet to maintain its technological edge.