Navios Maritime Partners (NMM) AI Stock Analysis

481 Followers

Navios Maritime Partners

(NYSE:NMM)

Select Model

Rating:75Outperform

Price Target:$96.00▲(10.23% Upside)

Action:reiterated

Date:11/10/26

Overall score is driven primarily by strong financial performance (robust TTM profitability, improved returns, and a major free-cash-flow rebound) and very attractive valuation (low P/E and high yield). The earnings call supports the outlook with record backlog, solid near-term coverage, and liquidity/leverage improvements, while technical indicators temper the score due to currently weak momentum (below key moving averages and negative MACD).

Positive Factors

Contracted Revenue VisibilityRecord contracted revenue and substantial fixed coverage provide multi-quarter visibility into vessel utilization and charter income. This reduces dependence on immediate spot-rate conditions, supports operating-cost coverage, and gives management a firmer base for funding fleet growth through 2027 and beyond.

Negative Factors

Shipping CyclicalityNavios remains exposed to the cyclical nature of marine shipping, where freight rates, utilization and earnings can change substantially between market phases. Historical volatility in revenue growth, margins and cash flow makes current profitability less dependable through a weaker trade or freight environment.

Navios Maritime Partners Business Overview & Revenue Model

Company Description

Navios Maritime Partners L.P. is a company that manages and possesses vessels specialized in dry cargo, delivering vital marine shipping solutions across global markets including Asia, Europe, North America, and Australia. The firm facilitates the oc...

How the Company Makes Money

NMM primarily makes money by earning charter revenue from its fleet. The company leases its vessels to customers under shipping charters, which typically fall into two main categories: (1) time charters, where a charterer pays a fixed daily rate for...

Navios Maritime Partners Earnings Call Summary

Earnings Call Date:Nov 04, 2026(Q3-2026)|% Change Since:0.13%|Next Earnings Date:Feb 18, 2027

Earnings Call SentimentPositive

The call was strongly positive overall. Navios reported substantial revenue, EBITDA and earnings growth, record contracted revenue, improved leverage, strong liquidity, fleet expansion and favorable tanker and dry bulk market conditions. The main negatives were higher operating and corporate expenses, a slight decline in available days and container TCE, increased borrowings following newbuilding deliveries, and explicit geopolitical and recessionary risks affecting shipping markets.

Positive Updates

Strong Third-Quarter and Nine-Month Earnings

Third-quarter net income was $185.7 million, with earnings per common unit of $6.42. For the first nine months, net income was $460 million and earnings per common unit were $15.83. The company also announced a quarterly cash distribution of $0.06 per unit.

Negative Updates

Higher Vessel Operating Expenses

Third-quarter vessel operating expenses increased by $3 million, with the daily OpEx rate rising 8% to $7,320 due to higher maintenance, repair and spares expenses, partially offset by a 4% decrease in OpEx days.

Company Guidance

For Q4 of 2026, Navios has fixed 80% of available days at a net average rate of $31,837 per day, with contracted revenue exceeding estimated total cash operating costs by $133.6 million and 2,713 remaining open or index-linked days; for 2027, contracted revenue exceeds estimated total cash operating costs by $4 million, 56% of available days are fixed at a net rate of $29,605 per day, and 25,220 days remain open or index-linked, with every $1,000 per day creating over $25 million of additional free cash. The company expects 34 newbuilding vessels to deliver through 2029, representing $3.1 billion of investment and about $2.3 billion in contracted revenue over a 5-year average charter duration; 2027 exposure is 98% fixed for containerships, 72% fixed for tankers and 87% of dry bulk days open or indexed, while tanker rates are expected to remain elevated over the longer term, vessel utilization will continue to run at high levels supporting elevated rates for the near term, and the dry bulk and tanker markets look positive over the medium term.

Navios Maritime Partners Financial Statement Overview

Summary

Strong TTM rebound with very high profitability (gross ~69.8%, EBIT ~40.9%, net ~36.9%), improved ROE (~16.3%), and a sharp swing to positive free cash flow (~$838M). Offsetting factors are clear cyclicality and volatility across years (notably in revenue growth, margins, and FCF consistency) plus a large absolute debt load (~$2.25B) despite manageable leverage (D/E ~0.60).

Income Statement

78Positive

Balance Sheet

71Positive

Cash Flow

64Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.56B	1.34B	1.33B	1.31B	1.21B	713.17M
Gross Profit	1.09B	867.45M	882.00M	859.39M	829.32M	534.96M
EBITDA	884.12M	769.05M	780.94M	837.35M	868.07M	666.45M
Net Income	577.25M	285.33M	359.87M	424.97M	567.66M	505.86M
Balance Sheet
Total Assets	6.42B	5.93B	5.67B	5.15B	4.90B	3.62B
Cash, Cash Equivalents and Short-Term Investments	508.35M	413.27M	282.45M	287.38M	157.81M	159.47M
Total Debt	2.25B	2.38B	2.37B	2.13B	2.26B	1.61B
Total Liabilities	2.65B	2.59B	2.57B	2.38B	2.55B	1.85B
Stockholders Equity	3.77B	3.34B	3.11B	2.77B	2.34B	1.77B
Cash Flow
Free Cash Flow	837.96M	-35.99M	-523.65M	95.30M	-104.24M	-1.71M
Operating Cash Flow	670.69M	504.99M	483.48M	560.32M	506.34M	277.17M
Investing Cash Flow	-618.28M	-348.05M	-782.13M	-253.01M	-316.24M	-106.25M
Financing Cash Flow	-49.73M	-53.76M	349.26M	-233.22M	-184.45M	-32.20M

Navios Maritime Partners Technical Analysis

Technical Analysis SentimentPositive

Last Price87.09

Price Trends

50DMA90.12Negative

100DMA84.05Positive

200DMA76.20Positive

Market Momentum

MACD-1.22Positive

RSI46.78Neutral

STOCH35.59Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NMM, the sentiment is Positive. The current price of 87.09 is below the 20-day moving average (MA) of 87.90, below the 50-day MA of 90.12, and above the 200-day MA of 76.20, indicating a neutral trend. The MACD of -1.22 indicates Positive momentum. The RSI at 46.78 is Neutral, neither overbought nor oversold. The STOCH value of 35.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NMM.

Navios Maritime Partners Risk Analysis

Navios Maritime Partners disclosed 81 risk factors in its most recent earnings report. Navios Maritime Partners reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

3 New Risks

1.We may be unable to obtain additional debt financing for future acquisitions of vessels and to fund payments in respect of any newbuilding orders that we may place in the future.Q4, 2019

2.Changing laws and evolving reporting requirements could have an adverse effect on our business.Q4, 2019

3.We conduct a substantial amount of business in China. The legal system in China has inherent uncertainties that could limit the legal protections available to us and could have a material adverse impact on our business, results of operations, financial condition and cash flows.Q4, 2019

Navios Maritime Partners Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

NMM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DAC	80Outperform	$2.68B	4.97	13.97%	5.91%	2.45%	21.62%
SBLK	80Outperform	$3.06B	10.69	11.71%	6.87%	6.34%	141.62%
NMM	75Outperform	$2.46B	4.39	16.33%	0.26%	19.34%	127.00%
GNK	73Outperform	$1.14B	14.47	8.91%	6.87%	54.72%	―
CMRE	66Neutral	$1.56B	5.00	15.31%	3.71%	-42.03%	3.81%
SFL	64Neutral	$1.53B	15.93	9.15%	7.81%	-4.36%	―
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

* Industrials Sector Average

Performance Comparison

NMM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
NMM	Navios Maritime Partners	87.09	34.67	66.15%
CMRE	Costamare	12.94	-1.30	-9.14%
DAC	Danaos	147.24	58.44	65.80%
GNK	Genco Shipping & Trading Ltd	26.19	9.95	61.29%
SFL	Sfl Corporation Limited	10.75	3.24	43.10%
SBLK	Star Bulk Carriers	27.36	9.61	54.14%

Navios Maritime Partners Corporate Events

Navios Maritime Partners Sets Date for 2026 Annual Meeting of Limited Partners

Oct 5, 2026

Navios Maritime Partners L.P. has scheduled its 2026 annual meeting of limited partners for Friday, December 18, 2026, formalizing the date via a Form 6-K filing dated October 5, 2026. The announcement provides advance notice to investors and other s...

Navios Maritime Partners Boosts Buybacks, Expands Fleet and Taps Bond Market

Aug 27, 2026

Navios Maritime Partners reported operating and financial developments for the three and six months ended June 30, 2026 and outlined recent strategic actions affecting its fleet and capital structure. The disclosure, dated August 27, 2026, highlights...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 10, 2026

Navios Maritime Partners AI Stock Analysis