Murphy Usa Inc.

Consumer Discretionary
Retail-Auto Dealers and Gas Stations
www.murphyusa.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $10.93B
PE 21
Debt $1.84B
Cash $52.50M
EV $12.71B
FCF $429.90M

Earnings

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Sales & Net Margins

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Earnings	$510.00M
EBIT	$761.10M
ROE	61%
ROA	17%
FCF	$429.90M
Equity	$830.10M
Growth Stability	68%
PE	21.42
PEG	1.01
PB	13.16
P/FCF	25.41
P/S	0.53
Price/Cash	0
Debt/Equity	2.21
Debt/FCF	4.27
Net Margins	2%
Op. Margins	4%
Earnings CAGR	17%
Sales Growth YoY	-10%
Sales Growth QoQ	-4%
Sales CAGR	8%
FCF CAGR	37%
Equity CAGR	1%
Earnings Stability	0.69
Earnings Growth YoY	-11%
Earnings Growth QoQ	3%
Earnings CAGR 5Y	21%

Sales CAGR 5Y	16%
FCF CAGR 5Y	22%
Equity CAGR 5Y	-1%
Earnings CAGR 3Y	3%
Sales CAGR 3Y	3%
FCF CAGR 3Y	-11%
Equity CAGR 3Y	3%
Market Cap	$10.93B
Revenue	$20.60B
Dividend Yield	0%
Payout Ratio	7%
Assets	$4.40B
Total Debt	$1.84B
Cash	$52.50M
Shares Outstanding	20.25M
EV	12.71B
Earnings Score	90%
Moat Score	86%
Safety Score	77%
Final Score	84%
Working Capital	-169.7M
Current Ratio	0.8
Shares Growth 3y	-8%
Equity Growth QoQ	2%
Equity Growth YoY	-2%

Assets & ROA

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Stockholders Equity & ROE

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Murphy USA Inc is an American retailer of gasoline products and convenience-store merchandise operating in the United States. The stores are 100% company-operated and 90% company-owned; most are adjacent to Walmart stores. The business also contains product supply and wholesale assets, such as product distribution terminals and pipelines. Murphy is positioned in the market as a low-price, high-volume fuel retailer selling through low-cost kiosks and small stores. The stores adjacent to Walmart offer a discount program. The amount of the discount offered can vary based on many factors, including state laws.

SEC Filings

Direct access to Murphy Usa Inc. (MUSA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Murphy Usa Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Murphy Usa Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 17%

Stability 69%

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Murphy Usa Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Murphy Usa Inc..

Years

Calculation mode

= $55B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$430M	$588M	$803M	$1.1B	$1.5B	$2.1B	$2.8B	$3.8B	$5.2B	$7.2B	$9.8B	$98B
DCF		$534M	$664M	$825M	$1B	$1.3B	$1.6B	$2B	$2.4B	$3B	$3.8B	$38B
Value	$55B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	1%	1%	2%	2%	1%	1%	3%	2%	3%	3%	2%
ROA	-	14%	19%	12%	14%	10%	21%	15%	23%	19%	17%
ROE	-	22%	32%	33%	26%	19%	49%	49%	105%	67%	61%

Bad Net Margins (2.32%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	17.21	8.9	34.72	4.44	9.57	3.01	3.92	2.62	4.01	4.27
Debt over Equity	0.57	0.62	0.96	1.19	1.07	1.29	1.28	2.25	2.82	2.17	2.21
Growth Stability	-	-	-	100%	100%	68%	100%	100%	100%	100%	68%

Bad Debt/FCF ratio (4.27)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Bad Debt/Equity ratio (2.21)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (68%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-26%	-9%	11%	12%	-2%	-20%	54%	35%	-8%	16%
Earnings YoY growth	-	-28%	26%	11%	-13%	-28%	149%	3%	70%	-17%	21%
Equity YoY growth	-	-8%	-12%	6%	9%	-1%	-2%	3%	-21%	29%	-1%
FCF YoY growth	-	-83%	164%	-66%	666%	-44%	207%	39%	49%	-35%	22%