- Navios Maritime Partners reported outstanding Q2 2021 results, delivering quarterly Adjusted EBITDA of $90.4M and EPU of $4.31. However, the unit price is not responding accordingly.
- 110% of debt is covered by the scrap value of the company's fleet, providing a tremendous margin of safety.
- Following the two ATMs (during the conference call, the CFO suggested they have been completed), Navios Maritime Partners is sitting on around $400M in cash (roughly 80% of today's market cap!).
- What's more, NMM has turned into a cash machine. The annual operating cash flow is poised to surpass $500M (more than today's market cap!).
- Navios Maritime Partners is in the strongest position it has ever been. Yet, the unit price is trading at distressed valuations, well below NAV.
For further details see:
Navios Maritime Partners Is In The Strongest Position It Has Ever Been