Nextera Energy Partners, Lp

Utilities
Electric Utilities: Central
www.nexteraenergypartners.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.65B
PE 12
Debt $5.17B
Cash $346.00M
EV $6.48B
FCF $302.00M

Earnings

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Sales & Net Margins

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Earnings	$139.00M
EBIT	-$75.00M
ROE	1%
ROA	-0%
FCF	$302.00M
Equity	$13.60B
Growth Stability	-659%
PE	11.85
PEG	-0.67
PB	0.12
P/FCF	5.46
P/S	1.65
Price/Cash	0.21
Debt/Equity	0.38
Debt/FCF	17.13
Net Margins	1%
Op. Margins	-8%
Earnings CAGR	13%
Sales Growth YoY	-13%
Sales Growth QoQ	-11%
Sales CAGR	7%
FCF CAGR	4%
Equity CAGR	36%
Earnings Stability	0.23
Earnings Growth YoY	-163%
Earnings Growth QoQ	-246%

Earnings CAGR 5Y	-18%
Sales CAGR 5Y	6%
FCF CAGR 5Y	-2%
Equity CAGR 5Y	22%
Earnings CAGR 3Y	-1%
Sales CAGR 3Y	-1%
FCF CAGR 3Y	-5%
Equity CAGR 3Y	9%
Market Cap	$1.65B
Revenue	$996.00M
Assets	$20.90B
Total Debt	$5.17B
Cash	$346.00M
Shares Outstanding	93.5M
EV	6.48B
Earnings Score	12%
Moat Score	25%
Safety Score	43%
Final Score	27%
Working Capital	430M
Current Ratio	2.02
Shares Growth 3y	2%
Equity Growth QoQ	-2%
Equity Growth YoY	-6%

Assets & ROA

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Stockholders Equity & ROE

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NextEra Energy Partners LP is formed to acquire, manage and own contracted clean energy projects. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The renewable energy projects are fully contracted, use industry technology and are in regions that are favorable for generating energy from the wind and sun. Its natural gas pipelines in the portfolio are all strategically located, serving power producers and municipalities in South Texas, processing plants and producers in the Eagle Ford Shale, and commercial and industrial customers in the Houston area. Renewable energy sales generate maximum revenue for the company.

SEC Filings

Direct access to Nextera Energy Partners, Lp (NEP) 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 Nextera Energy Partners, Lp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Nextera Energy Partners, Lp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 13%

Stability 23%

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Nextera Energy Partners, Lp Discounted Cash Flow

Fully customizable DCF calculator online for Nextera Energy Partners, Lp.

Years

Calculation mode

= $4.1B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$302M	$315M	$329M	$343M	$358M	$374M	$390M	$407M	$424M	$443M	$462M	$4.6B
DCF		$286M	$272M	$258M	$245M	$232M	$220M	$209M	$198M	$188M	$178M	$1.8B
Value	$4.1B

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	2%	11%	-8%	22%	-47%	-26%	14%	39%	19%	1%
ROA	-	8%	6%	6%	2%	3%	2%	6%	-0%	-0%
ROE	1%	4%	-3%	3%	-6%	-3%	1%	3%	1%	1%

Bad Net Margins (0.96%)

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	81.42	69	12.29	16.43	10.27	9.5	-9.26	-14.2	17.13
Debt over Equity	2.26	1.69	2	0.75	0.59	0.44	0.49	0.36	0.54	0.38
Growth Stability	-	-	-	100%	-659%	-	-	-	100%	-659%

Bad Debt/FCF ratio (17.13)

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

Good Debt/Equity ratio (0.38)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-659%)

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	64%	5%	-4%	11%	7%	7%	23%	-11%	6%
Earnings YoY growth	-	720%	-179%	-357%	-342%	-41%	-158%	248%	-58%	-18%
Equity YoY growth	-	39%	2%	151%	28%	9%	41%	35%	-4%	22%
FCF YoY growth	-	-61%	42%	427%	-25%	31%	70%	-202%	-6%	-2%