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AmeriGas Partners

DB:APK
Snowflake Description

Average dividend payer with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
APK
DB
$3B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

AmeriGas Partners, L.P. through its subsidiary, AmeriGas Propane, L.P., distributes propane and related equipment and supplies in the United States. The last earnings update was 77 days ago. More info.


Add to Portfolio Compare Print
  • AmeriGas Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
APK Share Price and Events
7 Day Returns
2.9%
DB:APK
0.2%
Europe Gas Utilities
0.8%
DE Market
1 Year Returns
-6.6%
DB:APK
9.4%
Europe Gas Utilities
-4.5%
DE Market
APK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AmeriGas Partners (APK) 2.9% 20.7% 22.7% -6.6% -14.1% -4.4%
Europe Gas Utilities 0.2% -0.3% 2.6% 9.4% 35% 28.1%
DE Market 0.8% 6.9% 8.1% -4.5% 10.4% 13.9%
1 Year Return vs Industry and Market
  • APK underperformed the Gas Utilities industry which returned 9.4% over the past year.
  • APK underperformed the Market in Germany which returned -4.5% over the past year.
Price Volatility
APK
Industry
5yr Volatility vs Market

APK Value

 Is AmeriGas Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AmeriGas Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AmeriGas Partners.

DB:APK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:APK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Gas Utilities Unlevered Beta Simply Wall St/ S&P Global 0.37
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.372 (1 + (1- 21%) (88.16%))
0.752
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:APK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for AmeriGas Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:APK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5%)
2019 497.00 Analyst x1 473.35
2020 512.00 Analyst x1 464.43
2021 522.98 Est @ 2.15% 451.83
2022 531.20 Est @ 1.57% 437.08
2023 537.40 Est @ 1.17% 421.15
2024 542.16 Est @ 0.89% 404.66
2025 545.89 Est @ 0.69% 388.06
2026 548.89 Est @ 0.55% 371.63
2027 551.38 Est @ 0.45% 355.55
2028 553.51 Est @ 0.39% 339.94
Present value of next 10 years cash flows $4,107.66
DB:APK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $553.51 × (1 + 0.23%) ÷ (5% – 0.23%)
$11,635.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $11,635.33 ÷ (1 + 5%)10
$7,145.80
DB:APK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $4,107.66 + $7,145.80
$11,253.47
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $11,253.47 / 93.00
$121.01
DB:APK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:APK represents 0.89381x of NYSE:APU
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89381x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 121.01 x 0.89381
€108.16
Value per share (EUR) From above. €108.16
Current discount Discount to share price of €32.03
= -1 x (€32.03 - €108.16) / €108.16
70.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price AmeriGas Partners is available for.
Intrinsic value
>50%
Share price is €32.03 vs Future cash flow value of €108.16
Current Discount Checks
For AmeriGas Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • AmeriGas Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • AmeriGas Partners's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AmeriGas Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AmeriGas Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:APK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.92
NYSE:APU Share Price ** NYSE (2019-04-25) in USD $35.83
Europe Gas Utilities Industry PE Ratio Median Figure of 8 Publicly-Listed Gas Utilities Companies 17.81x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 20.1x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AmeriGas Partners.

DB:APK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:APU Share Price ÷ EPS (both in USD)

= 35.83 ÷ 0.92

38.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AmeriGas Partners is overvalued based on earnings compared to the Europe Gas Utilities industry average.
  • AmeriGas Partners is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does AmeriGas Partners's expected growth come at a high price?
Raw Data
DB:APK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 38.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
36.1%per year
Global Gas Utilities Industry PEG Ratio Median Figure of 30 Publicly-Listed Gas Utilities Companies 2.45x
Germany Market PEG Ratio Median Figure of 268 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

DB:APK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 38.86x ÷ 36.1%

1.08x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AmeriGas Partners is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on AmeriGas Partners's assets?
Raw Data
DB:APK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $5.04
NYSE:APU Share Price * NYSE (2019-04-25) in USD $35.83
Europe Gas Utilities Industry PB Ratio Median Figure of 9 Publicly-Listed Gas Utilities Companies 1.74x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:APK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:APU Share Price ÷ Book Value per Share (both in USD)

= 35.83 ÷ 5.04

7.11x

* Primary Listing of AmeriGas Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AmeriGas Partners is overvalued based on assets compared to the Europe Gas Utilities industry average.
X
Value checks
We assess AmeriGas Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Gas Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Gas Utilities industry average (and greater than 0)? (1 check)
  5. AmeriGas Partners has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

APK Future Performance

 How is AmeriGas Partners expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
36.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AmeriGas Partners expected to grow at an attractive rate?
  • AmeriGas Partners's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • AmeriGas Partners's earnings growth is expected to exceed the Germany market average.
  • AmeriGas Partners's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:APK Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:APK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 36.1%
DB:APK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 0.6%
Europe Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 39.9%
Europe Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:APK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:APK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-09-30 2,850 49 1
2022-09-30 2,828 66 1
2021-09-30 2,862 559 290 1
2020-09-30 2,940 471 237 6
2019-09-30 2,781 472 176 6
DB:APK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 2,856 405 86
2018-09-30 2,823 410 143
2018-06-30 2,801 413 156
2018-03-31 2,740 385 184
2017-12-31 2,564 326 122
2017-09-30 2,453 357 116
2017-06-30 2,402 349 50
2017-03-31 2,381 351 64
2016-12-31 2,345 420 171
2016-09-30 2,312 423 165
2016-06-30 2,337 462 203
2016-03-31 2,368 503 212

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AmeriGas Partners's earnings are expected to grow significantly at over 20% yearly.
  • AmeriGas Partners's revenue is expected to grow by 0.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:APK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from AmeriGas Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:APK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-09-30 2.48 2.48 2.48 1.00
2022-09-30 2.46 2.46 2.46 1.00
2021-09-30 2.51 2.58 2.44 2.00
2020-09-30 2.39 2.65 2.14 6.00
2019-09-30 1.84 2.27 1.36 4.00
DB:APK Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.92
2018-09-30 1.54
2018-06-30 1.68
2018-03-31 1.97
2017-12-31 1.32
2017-09-30 1.25
2017-06-30 0.53
2017-03-31 0.69
2016-12-31 1.83
2016-09-30 1.77
2016-06-30 2.18
2016-03-31 2.28

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if AmeriGas Partners will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess AmeriGas Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AmeriGas Partners has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

APK Past Performance

  How has AmeriGas Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AmeriGas Partners's growth in the last year to its industry (Gas Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AmeriGas Partners's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • AmeriGas Partners's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • AmeriGas Partners's 1-year earnings growth is negative, it can't be compared to the Europe Gas Utilities industry average.
Earnings and Revenue History
AmeriGas Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AmeriGas Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:APK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,855.90 85.78 927.86
2018-09-30 2,822.98 143.29 923.06
2018-06-30 2,801.20 156.26 925.10
2018-03-31 2,740.30 183.63 930.11
2017-12-31 2,563.63 122.32 918.67
2017-09-30 2,453.50 116.01 915.13
2017-06-30 2,401.87 49.57 918.49
2017-03-31 2,381.06 64.01 908.27
2016-12-31 2,344.89 170.52 906.80
2016-09-30 2,311.82 164.96 928.79
2016-06-30 2,336.51 202.93 912.56
2016-03-31 2,367.80 212.13 918.71
2015-12-31 2,640.63 238.26 937.52
2015-09-30 2,885.32 177.37 953.28
2015-06-30 3,027.34 214.57 947.26
2015-03-31 3,162.60 204.62 949.09
2014-12-31 3,555.90 173.89 973.07
2014-09-30 3,712.94 262.00 963.96
2014-06-30 3,684.66 230.14 948.87
2014-03-31 3,653.14 234.42 938.28
2013-12-31 3,335.72 217.90 916.96
2013-09-30 3,166.54 198.58 917.43
2013-06-30 3,144.86 171.59 926.87
2013-03-31 3,135.08 118.49 940.22
2012-12-31 3,114.45 32.58 924.40
2012-09-30 2,921.62 -9.16 842.51
2012-06-30 2,871.46 39.96 774.73

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst AmeriGas Partners has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • AmeriGas Partners used its assets more efficiently than the Europe Gas Utilities industry average last year based on Return on Assets.
  • AmeriGas Partners's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess AmeriGas Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Gas Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AmeriGas Partners has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

APK Health

 How is AmeriGas Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AmeriGas Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AmeriGas Partners's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • AmeriGas Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of AmeriGas Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AmeriGas Partners Company Filings, last reported 3 months ago.

DB:APK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 512.92 2,937.55 8.30
2018-09-30 569.67 2,801.63 6.88
2018-06-30 702.65 2,751.36 5.08
2018-03-31 879.40 2,726.86 4.74
2017-12-31 786.85 2,835.39 7.20
2017-09-30 783.07 2,712.28 7.32
2017-06-30 902.76 2,654.83 4.71
2017-03-31 1,051.34 2,671.89 94.54
2016-12-31 1,014.11 2,605.02 9.25
2016-09-30 1,019.21 2,487.01 15.83
2016-06-30 1,205.99 2,729.49 307.66
2016-03-31 1,338.77 2,347.53 15.74
2015-12-31 1,186.17 2,467.94 17.25
2015-09-30 1,200.37 2,330.04 14.76
2015-06-30 1,346.42 2,333.19 16.22
2015-03-31 1,468.43 2,345.08 21.39
2014-12-31 1,229.23 2,544.75 18.51
2014-09-30 1,360.89 2,400.73 13.48
2014-06-30 1,498.01 2,387.33 14.66
2014-03-31 1,630.29 2,494.04 38.46
2013-12-31 1,496.55 2,507.74 30.30
2013-09-30 1,424.14 2,417.01 12.64
2013-06-30 1,530.87 2,383.21 16.53
2013-03-31 1,661.58 2,436.28 123.11
2012-12-31 1,501.28 2,500.25 117.63
2012-09-30 1,468.56 2,377.97 60.10
2012-06-30 1,595.36 2,413.93 122.84
  • AmeriGas Partners's level of debt (572.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (167.4% vs 572.7% today).
  • Debt is not well covered by operating cash flow (13.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess AmeriGas Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AmeriGas Partners has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

APK Dividends

 What is AmeriGas Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
10.61%
Current annual income from AmeriGas Partners dividends. Estimated to be 9.4% next year.
If you bought €2,000 of AmeriGas Partners shares you are expected to receive €212 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • AmeriGas Partners's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • AmeriGas Partners's dividend is above the markets top 25% of dividend payers in Germany (3.67%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:APK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Europe Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:APK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-09-30 3.80 1.00
2022-09-30 3.80 1.00
2021-09-30 3.80 2.00
2020-09-30 3.13 6.00
2019-09-30 3.32 6.00
DB:APK Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-29 3.800 12.357
2018-10-26 3.800 12.340
2018-07-23 3.800 9.436
2018-04-23 3.800 9.072
2018-01-24 3.800 8.894
2017-10-26 3.800 8.326
2017-07-24 3.800 8.618
2017-04-24 3.800 8.526
2017-01-23 3.760 8.015
2016-10-27 3.760 8.134
2016-07-25 3.760 8.125
2016-04-28 3.760 8.323
2016-01-27 3.680 8.904
2015-10-27 3.680 9.878
2015-07-27 3.680 8.424
2015-04-27 3.680 7.745
2015-01-28 3.520 7.188
2014-10-23 3.520 7.411
2014-07-28 3.520 7.758
2014-04-28 3.520 7.637
2014-01-29 3.360 7.855
2013-10-21 3.360 7.727
2013-07-29 3.360 7.785
2013-04-29 3.360 7.167
2013-01-23 3.200 7.327
2012-10-22 3.200 7.937
2012-07-31 3.200 7.485
2012-04-23 3.200 7.983
2012-01-18 3.050 7.220
2011-10-24 2.960 6.748
2011-07-25 2.960 6.860
2011-04-27 2.960 6.560
2011-01-19 2.820 5.885
2010-10-25 2.820 5.866
2010-07-26 2.820 6.357
2010-04-26 2.820 6.840
2010-01-25 2.680 6.622
2009-10-27 2.680 6.911
2009-07-27 2.680 7.497
2009-04-28 2.680 8.202

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of AmeriGas Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess AmeriGas Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AmeriGas Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AmeriGas Partners has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

APK Management

 What is the CEO of AmeriGas Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hugh Gallagher
COMPENSATION $916,091
AGE 55
TENURE AS CEO 0.6 years
CEO Bio

Mr. Hugh J. Gallagher has been the President and Chief Executive Officer AmeriGas Partners, L.P. since September 18, 2018 & President, CEO & Director at Amerigas Propane, Inc. since October 10, 2018 and served as its Chief Financial Officer and Vice President of Finance from May 20, 2013 until September 18, 2018 and was Treasurer of both UGI corporations and General Partner since 2011 to 2014. Mr. Gallagher has been President and Chief Executive Officer of AmeriGas Partners at UGI Corp. since September 2018. He served as Director of Treasury Services and Investor Relations of UGI Corporation from 2009 to 2011 and served as its Director-Treasury Services from 2007 to 2009. He also served as a Director of General Partner since 2004 to 2007. Mr. Gallagher served as the Amerigas Propane, Inc.'s Director-Corporate Development from 2004 to 2007, Director of Financial Planning and Analysis from 2000 to 2004, Financial Manager-Operations from 1999 to 2000, Manager of Financial Reporting from 1996 to 1999 and Team Leader of Financial Reporting from 1995 to 1996. He joined UGI Corp. in 1990 and has served both UGI and AmeriGas in various finance, accounting and operations roles. Mr. Gallagher holds a Bachelor of Science degree in Accounting from Drexel University and is a Certified Public Accountant.

CEO Compensation
  • Hugh's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Hugh's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the AmeriGas Partners management team in years:

2.2
Average Tenure
55
Average Age
  • The tenure for the AmeriGas Partners management team is about average.
Management Team

John Walsh

TITLE
Executive Chairman of AmeriGas Propane
COMPENSATION
$7M
AGE
63

Hugh Gallagher

TITLE
President
COMPENSATION
$916K
AGE
55
TENURE
0.6 yrs

Tony Rosback

TITLE
VP & COO of AmeriGas Propane
COMPENSATION
$1M
AGE
55
TENURE
4.1 yrs

Monica Gaudiosi

TITLE
VP, General Counsel & Secretary of AmeriGas Propane Inc
COMPENSATION
$2M
AGE
56
TENURE
3.8 yrs

Ann Kelly

TITLE
Chief Financial Officer of AmeriGas Propane
AGE
47
TENURE
0.2 yrs

Craig Dadamo

TITLE
Controller & Chief Accounting Officer of AmeriGas Propane
AGE
34
TENURE
0.1 yrs

Shelly Oates

TITLE
Investor Relations Contact

Troy Fee

TITLE
Vice President of Human Resources & Strategic Initiatives - AmeriGas Propane Inc
AGE
50
TENURE
5.9 yrs
Board of Directors Tenure

Average tenure and age of the AmeriGas Partners board of directors in years:

3.6
Average Tenure
66
Average Age
  • The tenure for the AmeriGas Partners board of directors is about average.
Board of Directors

Hugh Gallagher

TITLE
President
COMPENSATION
$916K
AGE
55
TENURE
0.5 yrs

William Marrazzo

TITLE
Director of AmeriGas Propane
COMPENSATION
$191K
AGE
69
TENURE
18 yrs

John Walsh

TITLE
Executive Chairman of AmeriGas Propane
COMPENSATION
$7M
AGE
63
TENURE
3.3 yrs

Marvin Schlanger

TITLE
Presiding Director of AmeriGas Propane
COMPENSATION
$166K
AGE
70

Anne Pol

TITLE
Director of AmeriGas Propane
COMPENSATION
$157K
AGE
71
TENURE
6.3 yrs

Pedro Ramos

TITLE
Director of AmeriGas Propane
COMPENSATION
$155K
AGE
53
TENURE
3.6 yrs

Rick Turner

TITLE
Director of AmeriGas Propane
COMPENSATION
$186K
AGE
60
TENURE
7.1 yrs

Brian Ford

TITLE
Director of AmeriGas Propane
COMPENSATION
$186K
AGE
69
TENURE
5.4 yrs

John Hartmann

TITLE
Director of AmeriGas Propane
COMPENSATION
$186K
AGE
54
TENURE
3.1 yrs

Frank Hermance

TITLE
Director of AmeriGas Propane
COMPENSATION
$56K
AGE
69
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess AmeriGas Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AmeriGas Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

APK News

Simply Wall St News

APK Company Info

Description

AmeriGas Partners, L.P. through its subsidiary, AmeriGas Propane, L.P., distributes propane and related equipment and supplies in the United States. It serves approximately 1.7 million residential, commercial, industrial, agricultural, wholesale, and motor fuel customers in 50 states through approximately 1,900 propane distribution locations. The company’s propane is used for home heating, water heating, and cooking purposes; to fire furnaces, as a cutting gas, and in other process applications; as a supplemental fuel and motor fuel; and for tobacco curing, chicken brooding, crop drying, and orchard heating applications. It also sells, installs, and services propane appliances, such as heating systems; propane-powered generators; and offers residential heating, ventilation, air conditioning, plumbing, and related services. The company markets propane and other services primarily under the AmeriGas, America's Propane Company, Driving Every Day, Heritage Propane, and Relationships Matter names. AmeriGas Propane, Inc. serves as the general partner of the company. AmeriGas Partners, L.P. was founded in 1994 and is based in King of Prussia, Pennsylvania.

Details
Name: AmeriGas Partners, L.P.
APK
Exchange: DB
Founded: 1994
$2,991,582,922
92,998,220
Website: http://www.amerigas.com
Address: AmeriGas Partners, L.P.
460 North Gulph Road,
King of Prussia,
Pennsylvania, 19406,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE APU Common Units New York Stock Exchange US USD 12. Apr 1995
DB APK Common Units Deutsche Boerse AG DE EUR 12. Apr 1995
Number of employees
Current staff
Staff numbers
0
AmeriGas Partners employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/25 20:32
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/02/07
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.