Navios Maritime Partners L.p. key statistics and ratios

In fiscal 2025, Navios Maritime Partners L.p. had a net margin of 21.2% and a current ratio of 1.13. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Navios Maritime Partners L.p.: financial ratios, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	85.0%	91.6%	92.8%	93.7%	92.5%	93.2%	96.8%	97.0%	98.0%	95.7%	94.4%	95.1%	94.9%	89.9%	87.7%	89.0%	90.5%
Net margin	37.0%	42.2%	34.9%	46.7%	29.8%	32.9%	18.7%	−27.6%	−7.1%	−5.7%	−28.3%	−30.2%	72.4%	47.9%	33.2%	27.5%	21.2%
Free-cash-flow margin	61.4%	−136.5%	68.2%	64.6%	−119.3%	6.8%	−11.0%	24.4%	−49.5%	−20.6%	22.4%	9.6%	8.4%	6.0%	28.9%	−19.8%	20.9%
Return on assets	—	7.2%	7.5%	10.3%	5.4%	5.8%	3.1%	−4.0%	−1.2%	−1.0%	−4.8%	−5.6%	21.4%	13.6%	8.6%	6.8%	4.9%
Asset turnover	—	0.17	0.21	0.22	0.18	0.18	0.17	0.15	0.16	0.18	0.17	0.18	0.30	0.28	0.26	0.25	0.23
Current ratio	—	1.22	1.12	1.16	3.49	3.83	0.96	0.57	1.11	2.12	0.95	0.24	0.57	0.50	0.87	1.08	1.13
Capital spending as % of revenue	25.6%	203.6%	0.0%	22.5%	172.2%	68.7%	66.1%	8.1%	74.8%	50.1%	9.6%	31.9%	30.4%	35.8%	14.0%	56.0%	16.7%
Free cash flow ÷ net income	165.7%	−323.2%	195.1%	138.5%	−400.6%	20.6%	−58.7%	—	—	—	—	—	11.7%	12.5%	87.0%	−71.8%	98.5%
Dividends ÷ net income	113.7%	119.5%	146.2%	111.4%	207.4%	185.7%	316.5%	—	—	—	—	—	0.9%	1.1%	1.4%	1.7%	2.1%
Dividends and buybacks ÷ free cash flow	68.6%	—	74.9%	80.5%	—	900.2%	—	0.0%	—	—	36.7%	36.3%	7.7%	8.5%	1.6%	—	2.1%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 4 checks passed · December 31, 2025

What it owns · $5.9bn

Short-term assets $512mLonger-term assets $5.4bn

What it owes, and who funded it · $2.6bn

Short-term liabilities $455mLonger-term liabilities $2.1bn

Short-term assets cover short-term liabilities $512m of assets due within a year against $455m of liabilities due within a year.
Short-term assets cover long-term liabilities $512m short-term assets against $2.1bn of longer-dated liabilities.
More cash than debt $403m of cash against $1.1bn of debt.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt $505m of operating cash flow against $1.1bn of debt.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Navios Maritime Partners L.p.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

58 /100

Moderate moat

How hard Navios Maritime Partners's competitive advantage looks for rivals to wear away, judged from 5 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Pricing power 18 / 20

Gross margin has been a median 92.5%, moving by 4.4 percentage points (standard deviation) across 5 years.
Durability 10 / 20

Net margin has been a median 29.8%; its worst year was -7.1%.
Cash conversion 10 / 20

Free cash flow was positive in 3 of 5 years, at a median 8.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (63 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Navios Maritime Partners L.p.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Navios Maritime Partners L.p.