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NMM

Navios Maritime Partners L.P.

NMM

Navios Maritime Partners L.P. • NYSE
$54.40 ▲ 1.89% (+1.01)
Market Cap $1.58 B
52w High $54.80
52w Low $28.37
Dividend Yield 0.20%
P/E 5.43
Volume 149.79K
Outstanding Shares 29.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $346.923M ▲ $118.194M ▼ $56.332M ▼ 16.238% ▼ $1.9 ▼ $200.105M ▲
Q2-2025 $327.558M ▲ $120.826M ▲ $69.947M ▲ 21.354% ▲ $2.34 ▲ $184.217M ▲
Q1-2025 $304.112M ▼ $21.972M ▼ $41.727M ▼ 13.721% ▼ $1.38 ▼ $152.024M ▼
Q4-2024 $332.521M ▼ $112.739M ▲ $94.723M ▼ 28.486% ▼ $3.13 ▼ $160.849M ▼
Q3-2024 $340.835M $110.065M $97.755M 28.681% $3.2 $188.037M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $381.568M ▼ $5.923B ▲ $2.688B ▼ $3.235B ▲
Q2-2025 $389.009M ▲ $5.885B ▲ $2.695B ▲ $3.19B ▲
Q1-2025 $342.354M ▲ $5.733B ▲ $2.598B ▲ $3.081B ▼
Q4-2024 $282.455M ▼ $5.673B ▲ $2.567B ▲ $3.107B ▲
Q3-2024 $331.122M $5.549B $2.525B $3.023B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $69.947M ▲ $121.628M ▼ $-134.503M ▼ $68.934M ▲ $56.059M ▲ $-49.056M ▼
Q1-2025 $41.727M ▼ $156.552M ▲ $-134.147M ▲ $-630K ▼ $21.775M ▲ $23.966M ▲
Q4-2024 $94.723M ▼ $114.924M ▼ $-168.162M ▲ $59.069M ▼ $5.831M ▼ $-165.275M ▲
Q3-2024 $97.755M ▼ $142.639M ▲ $-320.007M ▼ $191.482M ▲ $14.114M ▼ $-190.479M ▼
Q2-2024 $101.469M $131.479M $-125.884M $41.419M $47.014M $-123.252M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the last several years, helped by a larger and more diversified fleet, though growth has started to level off recently. Profitability remains solid, with healthy margins that are better than typical for a capital‑intensive, cyclical business like shipping. However, net income and earnings per unit have been drifting down from their peak a couple of years ago, likely reflecting more normal freight markets, higher operating and financing costs, and the impact of owning many more ships. Overall, the income statement shows a company that is solidly profitable, but now in a more mature phase after a period of rapid improvement.

Balance Sheet

Balance Sheet The balance sheet has expanded significantly as the fleet has grown, with total assets and equity both rising severalfold in a short time. Debt has also increased meaningfully to fund expansion, but equity is still larger than debt, which points to a capital structure that is geared but not extreme for this industry. Cash balances are modest compared with the size of the asset base, so the company depends on ongoing cash generation and access to financing. In short, NMM now looks like a much bigger, more heavily invested shipping platform, with higher financial commitments but also a stronger equity foundation than in the past.

Cash Flow

Cash Flow The business generates solid cash from operations, reflecting profitable chartering activity and good fleet utilization. At the same time, the company is spending heavily on new vessels and upgrades, so capital expenditures have often been larger than operating cash flow. This has led to free cash flow being thin or negative in several years, not because the core business is weak, but because management is aggressively reinvesting. The cash-flow picture tells the story of a company prioritizing fleet growth and modernization today in hopes of stronger earnings power tomorrow, while accepting near‑term pressure on free cash flow.

Competitive Edge

Competitive Edge NMM’s edge comes from its scale, diversification, and operational efficiency. It operates a large, mixed fleet across dry bulk, containers, and tankers, which helps smooth out cycles in any single segment and makes it an attractive partner for big charterers that want one provider for many needs. Modern, efficient ships and strong cost control support above‑average margins. Long‑term contracts with blue‑chip customers add visibility and reduce full exposure to spot market swings. The flip side is that NMM is still tied to a very cyclical, global trade–dependent industry, so its competitive strengths help it outperform peers but cannot fully shield it from downturns in shipping demand or vessel values.

Innovation and R&D

Innovation and R&D Innovation at NMM is focused on the fleet and on data rather than on traditional lab‑style R&D. The company is deliberately renewing its fleet with more fuel‑efficient, environmentally advanced ships, including vessels ready for alternative fuels and equipped with emissions‑control technology. It is adopting digital tools and analytics platforms to monitor fuel use, emissions, and operations in real time, which can lower costs and help it comply with tightening regulations. Participation in the MIT maritime innovation ecosystem signals an openness to emerging technologies like advanced propulsion and AI‑driven operations. Overall, NMM is positioning itself as an early mover among traditional ship owners in the shift toward greener, smarter shipping.

Summary

NMM has transformed from a smaller, more volatile operator into a larger, more diversified shipping platform with solid profitability. Its income statement shows strong revenue growth and good margins, though earnings have come off their highs as markets normalize. The balance sheet has scaled up significantly, with higher leverage but also a much stronger equity base, reflecting years of aggressive fleet expansion. Cash flow from operations is healthy, but heavy reinvestment has kept free cash flow under pressure, underscoring a strategy that prioritizes long‑term capacity and efficiency over near‑term cash surplus. Competitively, NMM benefits from scale, diversification, cost discipline, and long‑term customer relationships, while still being exposed to the inherent swings of global shipping. Its focus on modern, greener vessels and digital tools suggests it is actively preparing for stricter environmental rules and changing customer expectations. Overall, NMM looks like a more robust but more capital‑intensive business, with future performance heavily tied to both the shipping cycle and the payoff from its modernization and innovation efforts.

NEWS

November 18, 2025 · 7:38 AM UTC

Navios Maritime Partners L.P. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2025

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November 12, 2025 · 4:05 PM UTC

Navios Maritime Partners L.P. Announces the Date for the Release of Third Quarter Ended September 30, 2025 Results, Conference Call and Webcast

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October 29, 2025 · 4:05 PM UTC

Navios Maritime Partners L.P. Announces Cash Distribution of $0.05 per Unit

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October 28, 2025 · 9:32 AM UTC

Navios Maritime Partners L.P. Announces Successful Placement of 5-Year Senior Unsecured Bonds

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October 17, 2025 · 2:55 AM UTC

Navios Maritime Partners L.P. Announces Fixed Income Investor Meetings

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