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Murphy USA Inc. ("Murphy USA", the "Company", "we", "us", or "our") was incorporated in Delaware on March 1, 2013 and holds, through its subsidiaries, the former U.S. retail marketing business of its former parent company, Murphy Oil Corporation ( Murphy Oil ), plus other assets and liabilities of Murphy Oil that supported the activities of the U.S. retail marketing operations. In addition, on …
Operating margin is thin at 3.71%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 4.2% YoY. The question is whether this is cyclical or a structural shift.
Net debt of $2.83B represents 7.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$19.68B
▼ -4.2% YoY
Net Income (TTM)
$554M
▼ -6.3% YoY
Op. Margin
4.25%
ROIC
19.32%
▼ -1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$555M
▼ -3.9% YoY
Op. Cash Flow (TTM)
$1.01B
▼ -4.0% YoY
Net Debt
$2.71B
Cash & Equiv.
$119M
5Y CAGR: +11.5%
5Y CAGR: +2.4%
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