KNOT Offshore Partners LP

NYSE:KNOP Stock Report

Market Cap: US$207.9m

KNOT Offshore Partners Valuation

Is KNOP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of KNOP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KNOP ($5.96) is trading below our estimate of fair value ($28.49)

Significantly Below Fair Value: KNOP is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KNOP?

Key metric: As KNOP is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for KNOP. This is calculated by dividing KNOP's market cap by their current revenue.
What is KNOP's PS Ratio?
PS Ratio0.7x
SalesUS$296.18m
Market CapUS$207.88m

Price to Sales Ratio vs Peers

How does KNOP's PS Ratio compare to its peers?

The above table shows the PS ratio for KNOP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.5x
GASS StealthGas
1.3x2.0%US$199.2m
GPP Green Plains Partners
3.5xn/aUS$286.4m
DLNG Dynagas LNG Partners
1.1x-0.6%US$175.7m
MMLP Martin Midstream Partners
0.2x0.7%US$158.8m
KNOP KNOT Offshore Partners
0.7x2.9%US$207.9m

Price-To-Sales vs Peers: KNOP is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (1.5x).

Price to Sales Ratio vs Industry

How does KNOP's PS Ratio compare vs other companies in the US Oil and Gas Industry?

38 CompaniesPrice / SalesEstimated GrowthMarket Cap
PSX Phillips 66
0.4x-5.4%US$55.44b
MPC Marathon Petroleum
0.3x-3.6%US$50.50b
VLO Valero Energy
0.3x-2.7%US$44.26b
PAA Plains All American Pipeline
0.3x-2.1%US$12.43b
KNOP 0.7xIndustry Avg. 1.7xNo. of Companies38PS01.63.24.86.48+
38 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: KNOP is good value based on its Price-To-Sales Ratio (0.7x) compared to the US Oil and Gas industry average (1.8x).

Price to Sales Ratio vs Fair Ratio

What is KNOP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KNOP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.7x
Fair PS Ratio1.3x

Price-To-Sales vs Fair Ratio: KNOP is good value based on its Price-To-Sales Ratio (0.7x) compared to the estimated Fair Price-To-Sales Ratio (1.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KNOP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$5.96
US$12.50
+109.7%
20.0%US$15.00US$10.00n/a2
Nov ’25US$6.03
US$12.50
+107.3%
20.0%US$15.00US$10.00n/a2
Oct ’25US$6.74
US$12.50
+85.5%
20.0%US$15.00US$10.00n/a2
Sep ’25US$7.03
US$11.50
+63.6%
30.4%US$15.00US$8.00n/a2
Aug ’25US$7.16
US$11.50
+60.6%
30.4%US$15.00US$8.00n/a2
Jul ’25US$8.55
US$11.50
+34.5%
30.4%US$15.00US$8.00n/a2
Jun ’25US$6.30
US$11.50
+82.5%
30.4%US$15.00US$8.00n/a2
May ’25US$5.24
US$11.50
+119.5%
30.4%US$15.00US$8.00n/a2
Apr ’25US$5.10
US$11.50
+125.5%
30.4%US$15.00US$8.00n/a2
Mar ’25US$5.40
US$11.50
+113.0%
30.4%US$15.00US$8.00n/a2
Feb ’25US$5.70
US$11.50
+101.8%
30.4%US$15.00US$8.00n/a2
Jan ’25US$5.76
US$11.50
+99.7%
30.4%US$15.00US$8.00n/a2
Dec ’24US$5.39
US$11.50
+113.4%
30.4%US$15.00US$8.00n/a2
Nov ’24US$5.95
US$11.50
+93.3%
30.4%US$15.00US$8.00US$6.032
Oct ’24US$6.83
US$11.50
+68.4%
30.4%US$15.00US$8.00US$6.742
Sep ’24US$5.31
US$11.50
+116.6%
30.4%US$15.00US$8.00US$7.032
Aug ’24US$5.60
US$11.50
+105.4%
30.4%US$15.00US$8.00US$7.162
Jul ’24US$4.94
US$11.50
+132.8%
30.4%US$15.00US$8.00US$8.552
Jun ’24US$5.21
US$11.50
+120.7%
30.4%US$15.00US$8.00US$6.302
Jan ’24US$9.63
US$19.00
+97.3%
15.8%US$22.00US$16.00US$5.762

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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