KNOT Offshore Partners LP (KNOP) AI Stock Analysis

KNOT Offshore Partners LP specializes in the ownership, acquisition, and operation of shuttle tankers engaged in long-term charter services across the North Sea and Brazil. The company plays a crucial role in the transportation, loading, discharge, and storage of crude oil through its fleet of shuttle tankers operating under both time charters and bareboat charters. As of March 17, 2022, the company managed a fleet of seventeen shuttle tankers. Founded in 2013 and based in Aberdeen, United Kingdom, the partnership leverages its shuttle tanker fleet and long-term charter contracts to serve international clients across key offshore oil production regions.

KNOT Offshore Partners expanded revenue from $281.1M in FY2021 to $364.4M in FY2025, recording a 5-year revenue CAGR of 5.5% from FY2020 to FY2025. Annual top-line growth accelerated to 16.6% in FY2025 following 7.5% growth in FY2024. Operating margins moved from 26.2% in FY2021 down to 8.6% in FY2023, before recovering to 28.4% in FY2025. Net income was $23.3M in FY2025, rebounding from a loss of -$34.3M in FY2023. Over the trailing twelve months ended June 30, 2026, revenue totaled $375.8M with an operating margin of 12.3% and a net margin of 4.0%. In the latest quarter ended June 30, 2026, quarterly revenue grew 7.2% year-over-year while quarterly earnings fell 66.2%.

As of June 30, 2026, KNOT Offshore Partners held $95.3M in cash and short-term investments against total debt of $903.2M, resulting in net debt of $807.9M. Total assets stood at $1.64B and shareholders' equity was $611.4M, generating a debt-to-equity ratio of 1.48 and a current ratio of 0.34. In FY2025, the business produced operating cash flow of $155.7M and free cash flow of $155.5M. Capital allocation in FY2025 included $281,000 for capital expenditures, $3.0M for share buybacks, and $10.4M in dividends paid.

KNOT Offshore Partners trades at a trailing P/E of 70.7x, well above the 15.0x median of its US-listed Energy peers. Its forward P/E is 14.4x compared to the peer median of 12.7x. On enterprise value multiples, KNOP trades at 5.6x EV to EBITDA, which is below the peer group median of 8.0x, while its price-to-sales ratio is 0.9x versus the peer median of 1.8x. Over the past year, the stock gained 13.3%, trailing the S&P 500 (SPY) return of 16.8%. Over five years, the units dropped 38.0% compared to an 83.0% gain for the S&P 500.

KNOT Offshore Partners offers a forward annual dividend of $0.40, representing a dividend yield of 4.04% and a payout ratio of 58.5%. Distributions are paid quarterly, and the partnership has maintained payouts for 14 consecutive years. However, the annualized 5-year dividend growth rate is -45.1%. The stock's last ex-dividend date is October 26, 2026.

Consensus coverage shows 2 Strong Buy ratings, 0 Buy ratings, 0 Hold ratings, and 0 Sell ratings. The mean price target is $14.50, implying upside of 46.5% from the last close of $9.90. For the fiscal year ending December 31, 2026, analysts estimate EPS of $0.76 and revenue of $366.2M. For FY2027, 2 analysts project EPS of $0.69 on revenue of $368.9M. KNOP has beaten EPS estimates in 2 of the past 4 quarters, and its next earnings date is December 3, 2026.

This page is an AI-written research summary of KNOT Offshore Partners LP (KNOP). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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