Financials Murphy USA Inc.

Equities

MUSA

US6267551025

Oil & Gas Refining and Marketing

Market Closed - Nyse 04:00:02 2024-04-26 pm EDT 5-day change 1st Jan Change
421.3 USD +0.19% Intraday chart for Murphy USA Inc. +0.99% +18.17%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,599 3,739 5,107 6,316 7,587 8,771 - -
Enterprise Value (EV) 1 4,357 4,577 6,666 8,062 9,268 10,613 10,612 10,811
P/E ratio 24.1 x 10 x 13.4 x 9.95 x 14 x 15.5 x 14.7 x 15.9 x
Yield - 0.19% 0.52% 0.45% 0.43% 0.39% 0.41% 0.43%
Capitalization / Revenue 0.26 x 0.33 x 0.29 x 0.27 x 0.35 x 0.41 x 0.39 x 0.38 x
EV / Revenue 0.31 x 0.41 x 0.38 x 0.34 x 0.43 x 0.49 x 0.47 x 0.46 x
EV / EBITDA 10.3 x 6.33 x 8.05 x 6.77 x 8.76 x 9.82 x 9.55 x 10.6 x
EV / FCF 40.2 x 13.7 x 14.4 x 11.7 x 20.7 x 23.6 x 22.7 x 24.9 x
FCF Yield 2.49% 7.27% 6.94% 8.55% 4.84% 4.24% 4.4% 4.02%
Price to Book 4.5 x 4.55 x 6.15 x 10.4 x 8.96 x 9.48 x 7.95 x 6.45 x
Nbr of stocks (in thousands) 30,760 28,568 25,633 22,594 21,277 20,817 - -
Reference price 2 117.0 130.9 199.2 279.5 356.6 421.3 421.3 421.3
Announcement Date 1/29/20 2/3/21 2/2/22 2/1/23 2/7/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 14,035 11,264 17,360 23,446 21,529 21,460 22,620 23,381
EBITDA 1 422.6 722.7 828 1,191 1,058 1,081 1,111 1,023
EBIT 1 270.4 561.7 604 968.4 826 833.2 848.5 752.9
Operating Margin 1.93% 4.99% 3.48% 4.13% 3.84% 3.88% 3.75% 3.22%
Earnings before Tax (EBT) 1 202.4 509.1 521.9 883.8 734.4 756.2 784.2 756.9
Net income 1 154.8 386.1 396.9 672.9 556.8 568 588.6 567.7
Net margin 1.1% 3.43% 2.29% 2.87% 2.59% 2.65% 2.6% 2.43%
EPS 2 4.860 13.08 14.92 28.10 25.49 27.12 28.73 26.49
Free Cash Flow 1 108.5 333 462.7 689.4 448.4 450.4 467.4 434.5
FCF margin 0.77% 2.96% 2.67% 2.94% 2.08% 2.1% 2.07% 1.86%
FCF Conversion (EBITDA) 25.67% 46.08% 55.88% 57.89% 42.36% 41.68% 42.07% 42.46%
FCF Conversion (Net income) 70.09% 86.25% 116.58% 102.45% 80.53% 79.31% 79.41% 76.54%
Dividend per Share 2 - 0.2500 1.040 1.270 1.550 1.650 1.730 1.810
Announcement Date 1/29/20 2/3/21 2/2/22 2/1/23 2/7/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 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
Net sales 1 4,600 4,767 5,118 6,767 6,195 5,366 5,077 5,585 5,798 5,069 4,895 5,577 5,689 5,394 5,192
EBITDA 1 212.5 216.2 277 316.6 367 230.3 220.2 257.1 306 275.2 214.8 288.7 302.7 289.7 242.7
EBIT 1 158.3 160.9 220.7 262.3 311.9 173.5 162.8 198.7 247.3 217.2 154.8 222.4 233.2 221 167.7
Operating Margin 3.44% 3.38% 4.31% 3.88% 5.03% 3.23% 3.21% 3.56% 4.27% 4.28% 3.16% 3.99% 4.1% 4.1% 3.23%
Earnings before Tax (EBT) 1 137.7 140.9 200.4 241.3 290.7 151.4 139 175.7 223.4 196.3 130.2 203.2 216.8 203.4 143.7
Net income 1 104 108.8 152.4 183.3 219.5 117.7 106.3 132.8 167.7 150 97.97 152.5 162.4 152.9 108
Net margin 2.26% 2.28% 2.98% 2.71% 3.54% 2.19% 2.09% 2.38% 2.89% 2.96% 2% 2.73% 2.86% 2.83% 2.08%
EPS 2 3.980 4.230 6.080 7.530 9.280 5.210 4.800 6.020 7.690 7.000 4.721 7.213 7.662 7.297 5.696
Dividend per Share 2 0.2900 0.2900 0.2900 0.3100 0.3200 0.3500 0.3700 0.3800 0.3900 0.4100 0.4100 0.4100 0.4100 0.4300 0.4300
Announcement Date 10/27/21 2/2/22 5/3/22 7/27/22 10/26/22 2/1/23 5/2/23 8/2/23 11/1/23 2/7/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 758 839 1,559 1,746 1,682 1,842 1,841 2,040
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.793 x 1.161 x 1.882 x 1.466 x 1.589 x 1.704 x 1.657 x 1.993 x
Free Cash Flow 1 109 333 463 689 448 450 467 435
ROE (net income / shareholders' equity) 19.2% 48.7% 49.9% 92.9% 75.8% 62.1% 57.3% -
ROA (Net income/ Total Assets) 6.13% 14.4% 11.8% 16.5% 13.2% 12.3% 12.1% -
Assets 1 2,524 2,686 3,367 4,086 4,218 4,618 4,864 -
Book Value Per Share 2 26.00 28.80 32.40 26.80 39.80 44.40 53.00 65.30
Cash Flow per Share - - - - - - - -
Capex 1 205 231 275 305 336 423 406 411
Capex / Sales 1.46% 2.05% 1.58% 1.3% 1.56% 1.97% 1.79% 1.76%
Announcement Date 1/29/20 2/3/21 2/2/22 2/1/23 2/7/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
421.3 USD
Average target price
429.6 USD
Spread / Average Target
+1.97%
Consensus
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