Navios Maritime Partners L.P.

NYSE:NMM Stock Report

Market Cap: US$2.1b

Navios Maritime Partners Future Growth

Future criteria checks 1/6

Navios Maritime Partners is forecast to grow earnings and revenue by 12.7% and 4.3% per annum respectively. EPS is expected to grow by 12.3% per annum. Return on equity is forecast to be 11.8% in 3 years.

Key information

12.7%

Earnings growth rate

12.25%

EPS growth rate

Shipping earnings growth0.8%
Revenue growth rate4.3%
Future return on equity11.78%
Analyst coverage

Low

Last updated22 Jun 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 03

NMM: Fleet Renewal And Backlog Support Future Earnings And Distributions

Analysts have adjusted their price target on Navios Maritime Partners to $89.33 from $87.67, pointing to updated assumptions around revenue growth, margin profile, discount rate, and a lower future P/E following recent bullish Street research. What's in the News Reported Q1 2026 adjusted earnings of $3.35 per diluted common unit and revenue of $357.0 million, with net income of $106.3 million, supported by higher time charter equivalent rates across a 148 vessel fleet.
Seeking Alpha • May 25

Navios Maritime: Trading Far Below NAV While Also Growing Organically

Summary Navios Maritime is rated Buy, driven by strong earnings, organic growth, and a steep discount to NAV. NMM's fleet of 149 vessels is diversified across dry bulk, containerships, and tankers, with low OPEX growth and high utilization. Operating cash flows fund fleet expansion and debt repayment, supporting sustainable growth without dilution; $410 million in cash provides strategic flexibility. Units trade at a 56% discount to NAV, offering significant upside if cash is deployed to address the aging fleet and market conditions stabilize. Read the full article on Seeking Alpha
Narrative Update • May 13

NMM: Buybacks And Higher Distributions Will Support Future Earnings Power

Analysts have slightly increased their price target on Navios Maritime Partners to about $87.67 from $87, reflecting updated views on its fair value, discount rate, revenue growth, profit margin and future P/E assumptions following recent bullish research coverage. Analyst Commentary Recent research coverage on Navios Maritime Partners adds more color around the updated fair value view, with analysts breaking their thoughts into what could drive upside and what might limit execution or valuation.
Narrative Update • Apr 22

NMM: Buybacks And Higher Distributions Will Drive Future Upside Potential

Analysts kept their fair value estimate for Navios Maritime Partners steady at $87.0. This reflects largely unchanged assumptions on discount rate, revenue growth, profit margins and future P/E that together support a stable price target view. What's in the News Navios Maritime Partners completed repurchases of 285,983 units from October 1, 2025 to February 12, 2026, representing 0.97% of units, for a total of US$14.92 million, under the existing buyback program announced on July 28, 2022 (Key Developments).
Narrative Update • Apr 06

NMM: Buybacks And Higher Distributions Will Support Future Upside Potential

Analysts have kept their price target for Navios Maritime Partners broadly steady at $87. This reflects only minor tweaks to inputs such as discount rate, revenue growth, profit margin, and future P/E assumptions in their valuation work.
Narrative Update • Mar 21

NMM: Buybacks And Higher Distributions Will Drive Future Upside Potential

Analysts have maintained their $87.00 price target for Navios Maritime Partners, citing only modest adjustments to model inputs such as the discount rate and forward P/E assumptions. They indicate this reflects fine-tuning of their analysis rather than a change in their overall view of the partnership.
Narrative Update • Mar 06

NMM: Buybacks And Higher Distributions Will Support Future Upside Potential

Analysts have lifted their price target on Navios Maritime Partners from $80 to $87, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E as key drivers of the change. What's in the News The Board of Directors approved a 20% increase in the quarterly distribution to $0.06 per unit, effective from the first quarter of 2026, with funding primarily tied to savings from the common unit repurchase program (Key Developments).
Narrative Update • Feb 17

NMM: Lower Discount Rate And Stable Margins Will Support Future Upside

Analysts have modestly adjusted their price target on Navios Maritime Partners to reflect updated assumptions for the discount rate, long term revenue growth, profit margin and future P/E. The new target implies a fair value of about $80 per unit.
Narrative Update • Feb 03

NMM: Higher Margin Outlook And Lower Discount Rate Will Support Future Upside

The analyst price target for Navios Maritime Partners has shifted from US$73 to US$80. Analysts attribute the revised view to updated assumptions on discount rates, revenue growth, profit margins and future P/E.
Narrative Update • Jan 20

NMM: Stable Assumptions And Lower Discount Rate Will Support Future Upside

Analysts have kept their price target for Navios Maritime Partners broadly steady around $73.00, reflecting only small tweaks in assumptions, such as a slightly lower discount rate and modestly adjusted long term P/E expectations. Valuation Changes Fair Value Estimate: Held steady at about $73.00 per unit, with no material change in the central valuation outcome.
Narrative Update • Jan 06

NMM: Stable Assumptions And Discount Rate Will Support Strong Future Earnings

Analysts have kept their price target for Navios Maritime Partners broadly unchanged at US$73.00, reflecting only minor adjustments to inputs such as the discount rate, revenue growth, profit margin and forward P/E assumptions. Valuation Changes Fair Value: The fair value estimate is unchanged at US$73.00 per unit.
Narrative Update • Dec 18

NMM: Higher Revenue Outlook Will Support Strong Future Earnings Despite Margin Pressure

Analysts have raised their price target on Navios Maritime Partners to approximately 73 dollars from 69 dollars, citing higher expected revenue growth and a richer valuation multiple, despite a more conservative view on future profit margins. Valuation Changes Fair Value: Raised modestly from 69 dollars to 73 dollars, reflecting a slightly higher intrinsic valuation.
Narrative Update • Dec 04

NMM: Higher Required Returns Will Still Support Strong Future Profitability

Analysts have modestly trimmed their price target on Navios Maritime Partners to $69.00. This reflects slightly higher perceived risk, as seen in a higher discount rate and marginally lower expected future valuation multiples, even as growth and margin assumptions remain essentially unchanged.
Narrative Update • Nov 20

NMM: Lower Risk Profile Will Drive Stronger Profit Margins Ahead

Analysts have raised their price target for Navios Maritime Partners from $66.50 to $69.00, citing improved revenue growth projections and higher profit margins, which support a more optimistic valuation. Valuation Changes Fair Value Estimate has increased from $66.50 to $69.00, indicating a modest upward revision in intrinsic value.
Seeking Alpha • Jan 06

Navios Maritime Partners: Why The Rally Is Built On Shaky Ground

Summary Navios Maritime Partners continues to face significant challenges related to conflicts of interest and governance issues, which undermine its credibility as an investment despite its discounted valuation. NMM's recent outperformance can be attributed to opportunistic mergers and favorable industry conditions, rather than any meaningful improvements in management practices. Despite generating significant cash flows post-mergers, NMM has prioritized fleet renewal and expansion over returning capital to shareholders. Investors should steer clear of NMM due to its weak capital return profile and management's apparent disregard for common unitholders, despite its significant discount to NAV. Read the full article on Seeking Alpha
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New Narrative • Sep 13

Modernizing Fleet And Embracing Energy Efficiency Spurs Growth Amidst Market Challenges

Strategic fleet modernization and long-term charter focus enhance competitiveness, operational efficiency, and provide stable revenue, mitigating spot market volatility.
Seeking Alpha • Jul 29

Navios Maritime Partners L.P. Shares Can Sail Higher Despite Storm Clouds

Summary Navios Maritime Partners is ranked the 10th largest company in the marine shipping industry with 176 vessels of all types. Navios stock has more than doubled in price over the past years and has potential to move higher. The global marine vessel market is projected to grow. Freight rates are also forecast to increase. We rate the stock a Moderate Buy opportunity. Navios has positive financial metrics and potential, despite risks such as higher costs and delivery interruptions. Read the full article on Seeking Alpha
Seeking Alpha • May 23

Navios Maritime Partners: Statistical Discount With High Business Returns

Summary Navios Maritime Partners offers attractive exposures to durable end markets. The marine transportation industry has cyclical tailwinds, making it an attractive domain for investment, with potential revenue growth due to higher freight rates. Key risks surround NMM's complex organisational and tax structure. Read the full article on Seeking Alpha
Seeking Alpha • Feb 28

Navios Maritime Partners: Undervalued In A Booming Shipping Industry, Buy

Summary Navios Maritime Partners has a diverse fleet of ships that provides operational flexibility for global maritime transportation. Geopolitical events have led to longer trips and higher revenues for NMM, resulting in a financially strong Q1 2024. NMM seems undervalued, trading below sector median ratios, with significant investments in fleet expansion, indicating solid long-term prospects. Despite macroeconomic risks, NMM is a “buy” due to its undervalued fundamentals and diversified fleet with operational flexibility. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:NMM - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,5995274438352
12/31/20271,4765092248153
12/31/20261,4785161277502
3/31/20261,397350-126475N/A
12/31/20251,344285-36505N/A
9/30/20251,311263-189496N/A
6/30/20251,305304-381536N/A
3/31/20251,320336-455546N/A
12/31/20241,334367-524483N/A
9/30/20241,329405-302580N/A
6/30/20241,311397-117558N/A
3/31/20241,31640870560N/A
12/31/20231,30743495560N/A
9/30/20231,35042059489N/A
6/30/20231,350587-145588N/A
3/31/20231,283593-107596N/A
12/31/20221,211579-104506N/A
9/30/20221,108579-12495N/A
6/30/20221,013483192347N/A
3/31/20228854653266N/A
12/31/2021713516-2277N/A
9/30/2021514348-90174N/A
6/30/2021351193-97124N/A
3/31/202124579-2089N/A
12/31/2020227-692294N/A
9/30/2020219-811192N/A
6/30/2020218-7151104N/A
3/31/2020219-636281N/A
12/31/2019219-62N/A70N/A
9/30/20192161N/A65N/A
6/30/2019215-5N/A51N/A
3/31/2019225-28N/A72N/A
12/31/2018231-13N/A68N/A
9/30/2018233-36N/A67N/A
6/30/2018230-38N/A75N/A
3/31/2018222-4N/A62N/A
12/31/2017212-15N/A53N/A
9/30/20172026N/A59N/A
6/30/2017192-38N/A28N/A
3/31/2017187-58N/A31N/A
12/31/2016191-53N/A62N/A
9/30/2016194-43N/A61N/A
6/30/20162013N/A93N/A
3/31/201621331N/A119N/A
12/31/201522442N/A123N/A
9/30/201523047N/A120N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: NMM's forecast earnings growth (12.7% per year) is above the savings rate (3.5%).

Earnings vs Market: NMM's earnings (12.7% per year) are forecast to grow slower than the US market (18.6% per year).

High Growth Earnings: NMM's earnings are forecast to grow, but not significantly.

Revenue vs Market: NMM's revenue (4.3% per year) is forecast to grow slower than the US market (12.7% per year).

High Growth Revenue: NMM's revenue (4.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NMM's Return on Equity is forecast to be low in 3 years time (11.8%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/04 01:01
End of Day Share Price 2026/07/02 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Navios Maritime Partners L.P. is covered by 15 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kenneth HoexterBofA Global Research
Natasha BoydenCantor Fitzgerald & Co.
Christian WetherbeeCitigroup Inc