NGL Energy Partners stock: fair value
NGLThe fair value of NGL Energy Partners under our model is $27.33, the price is 43% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Possible value trapIn our model the price counts as cheap below $19.52 and expensive above $45.54 (uncertainty high, based on the price swings of the past year).
Calculated with a cost of equity of 8.8%. At 9.8% the fair value would be $22.68, at 7.8% it would be $34.30.
Possible value trap: looks cheap, but score below 50, high risk, weak growth.
Where the number comes from
From the cash-flow model alone; without earnings there is no industry value.
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.8%. Discounted at 8.8% (floor: government bond yield 3.8% plus 5 percentage points, since beta 0.88 times the risk premium would give less); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $27.33 per share: free cash flow for the next ten years, each year discounted to today at 8.8%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 8.8%) |
|---|---|---|---|---|
| 2027 | $144.59M | extrapolated at 12.7% | 0.9189 | $132.86M |
| 2028 | $159.1M | extrapolated at 10.0% | 0.8443 | $134.33M |
| 2029 | $172.09M | extrapolated at 8.2% | 0.7758 | $133.51M |
| 2030 | $183.91M | extrapolated at 6.9% | 0.7129 | $131.1M |
| 2031 | $194.87M | extrapolated at 6.0% | 0.6550 | $127.64M |
| 2032 | $205.23M | extrapolated at 5.3% | 0.6019 | $123.52M |
| 2033 | $215.23M | extrapolated at 4.9% | 0.5530 | $119.03M |
| 2034 | $225.04M | extrapolated at 4.6% | 0.5082 | $114.36M |
| 2035 | $234.81M | extrapolated at 4.3% | 0.4669 | $109.64M |
| 2036 | $244.64M | extrapolated at 4.2% | 0.4291 | $104.97M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $1.23B |
| Terminal value: cash flow 2036 × (1 + 3.8%) / (8.8% − 3.8%) | $5.08B |
| Present value of terminal value (× 0.4291) | $2.18B |
| Equity value (sum plus present value of terminal value) | $3.41B |
| Shares (diluted) | 124.81M |
| Value per share (equity value divided by shares) | $27.33 |
| Fair value (from the cash flow model alone) | $27.33 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2026, period end 31 Mar 2026
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 30 Oct 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.