Navios Maritime Partners LP Unit (NMM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Navios Maritime Partners LP Unit stock $79.29, price $85.33, that is 7.1% below the price, quality 52 out of 100. Rating: fairly valued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $18.99 – $96.60 · fair‑value band $59.47 – $99.11 · the $85.33 price screens above the $79.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Navios Maritime Partners L.P. owns and operates dry cargo and tanker vessels in Asia, Europe, North America, and Australia.
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The company offers seaborne transportation services for a range of liquid and dry cargo commodities, such as crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers. It charters its vessels under short, medium, and longer-term time charters.
As of March 5, 2026, the company's fleet consisted of 66 dry bulk vessels, 51 containerships, and 53 tanker vessels. Navios Maritime Partners L.P. was founded in 2007 and is based in Piraeus, Greece.
Stock analysis
Navios Maritime Partners LP Unit (NMM) currently trades at $85.33, while our model-based Fair Value estimate is $79.29, so the stock looks roughly fairly valued today (gap 7.6%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $267.70 per share, and 12 of the 16 models we run sit above the $85.33 price.
Bear case: the Asset-Based group reads lowest at $77.60, and 4 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $59.47 (bear) to $99.11 (bull), the price of $85.33 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Navios Maritime Partners LP Unit reported revenue of $1.3B in FY2025 versus $713M in FY2021, a compound +17.2%/yr. Reported net income was $285M in FY2025, compounding −13.3%/yr from FY2021.
Key figures
Market cap $2.5B Mid · P/E ratio 5.5 · P/S ratio 1.68 · EPS (TTM) $15.29 · Dividend yield 0.3% · Net margin 30.3% · Return on equity 13.2% · Return on assets (EBIT) 8.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (medium confidence).
What moves the price
The share trades about 12% below its 52-week high and 76% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at −7%, NMM screens richer than that median.
Fair Value models
Bear$59.47Fair Value $79.29Bull$99.11
Price $85.33 · Downside -7.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($12.88 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income$94.69$101.24$115.4176
EPV$77.41$93.60$107.3874
ROIC Compounder$77.41$93.60$107.3872
All 16 models by family
Earnings-Based
Graham-Dodd$68.55$461.32$646.4063
Lynch FV$135.14$193.06$250.9761
PEG = 1.0$135.14$193.06$250.9757
EPV$77.41$93.60$107.3874
Dividend Discount
Gordon GGM$1.77$3.39$4.9467
DDM Multi-Stage$1.77$3.00$3.6067
Multiples
P/E Multiple$158.78$211.71$264.6363
P/S Multiple$71.24$94.98$118.7358
P/B Multiple$390.92$521.22$651.5355
EV/EBIT$106.50$165.21$223.9365
EV/EBITDA$180.96$264.51$348.0567
EV/Revenuen/a$15.82$41.4750
Asset-Based
NCAV (Graham)$57.91$77.60$115.8354
Economic Profit
Residual Income$94.69$101.24$115.4176
ROIC Compounder$77.41$93.60$107.3872
Growth Earnings
Growth-Adj P/E$187.39$267.70$348.0167
The fair value above starts from this blend and is adjusted for a cyclical peak year.
In the last 6 months, one officer or director bought shares worth $851.4M, on Aug 12, 2026.
BuyAngeliki FrangouOfficer, Director, 10% owner34× since Mar 19, 2026: 115,931 shares, avg. $7,370$854.4MAug 12, 202610b5-1 plan
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+0.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+42.7%
Start year 2020 (pandemic). Over 10 years: +19.6% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+28.3%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−9.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.7%
Dividend (yield on the price)0.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−15.5% vs −0.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 29%
News mood ⓘNews mood, the average tone of recent news (86 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Very negative
AI conclusion: Multi-year charters on new VLCC tankers improve revenue visibility, yet high leverage and negative free cash flow persist amid large capital commitments at elevated vessel prices.
Main risk: Large capital commitments for new VLCCs at historically high prices increase leverage and timing risk, threatening to deepen negative free cash flow in the cyclical shipping business.
Navios is adding multiple new VLCC tankers to its fleet through large capital commitments while divesting older tonnage and locking in multi-year charters. The strategy strengthens revenue visibility amid strong rates from Middle East risks but requires significant investment at historically high vessel prices. Our models see the unit as overvalued. Does the growing backlog provide more resilience against market swings than the newbuild program adds in leverage and timing risk?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Marine Shipping · 220 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−7.1% · Below median
Profitability
Return on equity (12 months)13.2% · Above median
Return on assets4.8% · Above median
Net margin (12 months)30.3% · Top 25%
Operating margin (12 months)38.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)25.2% · Above median
Dividend yield (12 months)0.3% · Bottom 25%
Balance sheet
Debt / equity0.39× · Above median
Valuation Multiplesvs Marine Shipping median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Navios Maritime Partners LP Unit Fair Value". https://www.fairvalue-calculator.com/stock/NMM
Frequently asked questions
Is Navios Maritime Partners LP Unit (NMM) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $79.29 versus a price of $85.33, about 7% lower (fairly valued).
What is the fair value of NMM?
Our model-based fair value for Navios Maritime Partners LP Unit is $79.29 (as of Nov 7, 2026), built from audited fundamentals. The current price: $85.33.
What is the quality score of NMM?
Navios Maritime Partners LP Unit has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Navios Maritime Partners LP Unit (NMM)?
Our model-based price target is the fair value of $79.29 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario $59.47, optimistic scenario $99.11. It is a calculation from audited fundamentals, not an analyst target.
What is the Navios Maritime Partners LP Unit stock forecast for 2026?
Our models put fair value at $79.29, about 7% lower versus a price of $85.33 (fairly valued). Cautious scenario $59.47, optimistic scenario $99.11. The calculation is refreshed regularly with new filings.
What is the revenue of Navios Maritime Partners LP Unit (NMM)?
Navios Maritime Partners LP Unit reported trailing-twelve-month revenue of about $1.5B (latest available figure, as of Nov 7, 2026).
Does Navios Maritime Partners LP Unit pay a dividend?
Navios Maritime Partners LP Unit currently shows a dividend yield of 0.26% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Navios Maritime Partners LP Unit (NMM) and when is the ex-dividend date?
Navios Maritime Partners LP Unit pays a dividend of $0.22 per share a year, a dividend yield of 0.3%. The last ex-dividend date was Aug 10, 2026. A dividend has been paid every year since 2018. The payout ratio is 1.4% of earnings. Our assessment: Token dividend. At a yield of 0.3% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.3% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of Navios Maritime Partners LP Unit (NMM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Navios Maritime Partners LP Unit it is $79.29 per share (as of Nov 7, 2026), against a price of $85.33. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Navios Maritime Partners LP Unit stock overvalued or undervalued in 2026?
As of Nov 7, 2026, NMM trades above its calculated fair value: price $85.33, fair value $79.29, a gap of about −7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NMM?
No. The price is what the market pays today ($85.33); the fair value is what the company's own numbers justify ($79.29). For Navios Maritime Partners LP Unit the two are $6.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Navios Maritime Partners LP Unit worth?
The market values Navios Maritime Partners LP Unit at about $2.5B (market capitalisation, as of Nov 7, 2026). Per share that is $85.33; our models calculate a fair value of $79.29 per share.
What do the bullish and bearish scenarios say about NMM?
Our models span a range for Navios Maritime Partners LP Unit: cautious scenario $59.47, base $79.29, optimistic $99.11 per share (as of Nov 7, 2026, price $85.33). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NMM?
Navios Maritime Partners LP Unit trades at a price-to-earnings ratio of 5.5 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $79.29 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 2.0. Other multiples: PEG 2.2, P/B 0.8, P/S 1.7, EV/EBITDA 4.0.
What is the PEG ratio of NMM?
The PEG ratio of Navios Maritime Partners LP Unit is 2.18 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Navios Maritime Partners LP Unit (NMM)?
Balance-sheet figures for Navios Maritime Partners LP Unit (as of Nov 7, 2026): return on equity 13.2%, debt of 0.39 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is NMM from its 52-week high?
Navios Maritime Partners LP Unit trades at $85.33, about 12% below its 52-week high of $96.60 and 76% above the low of $48.36 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $79.29 is for.
Which stocks are comparable to Navios Maritime Partners LP Unit?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Navios Maritime Partners LP Unit stock attractive at the current price?
The data as of Nov 7, 2026: price $85.33, calculated fair value $79.29 (−7%), Quality Score 52/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NMM calculated?
We run Navios Maritime Partners LP Unit through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $79.29 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Navios Maritime Partners LP Unit itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Navios Maritime Partners LP Unit (NMM)?
The closing price on Nov 6, 2026 was $85.33. Our model-based fair value is $79.29, about 7% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Navios Maritime Partners LP Unit right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Navios Maritime Partners LP Unit (NMM) come from?
Earnings per share at Navios Maritime Partners LP Unit grew +1.4 % a year from 2012 to 2023. Broken into its drivers: revenue per share −1.7 %, EBIT margin +1.6 %, tax rate +3.4 %, residual (interest, one-offs) −1.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Navios Maritime Partners LP Unit
How large is the market capitalisation of Navios Maritime Partners LP Unit (NMM)?
The market capitalisation of Navios Maritime Partners LP Unit is $2.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Navios Maritime Partners LP Unit (NMM)?
The price-to-sales ratio of Navios Maritime Partners LP Unit is 1.68 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Navios Maritime Partners LP Unit (NMM)?
Earnings per share at Navios Maritime Partners LP Unit are $15.29 (price ÷ EPS = P/E 5.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Navios Maritime Partners LP Unit (NMM)?
The dividend yield of Navios Maritime Partners LP Unit is 0.3% (payout 1.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Navios Maritime Partners LP Unit (NMM)?
The net margin of Navios Maritime Partners LP Unit is 30.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Navios Maritime Partners LP Unit (NMM)?
The return on equity (ROE) of Navios Maritime Partners LP Unit is 13.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Navios Maritime Partners LP Unit (NMM)?
On an EBIT basis the return on assets of Navios Maritime Partners LP Unit is 8.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Navios Maritime Partners LP Unit (NMM)?
The operating margin of Navios Maritime Partners LP Unit is 38.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Navios Maritime Partners LP Unit (NMM)?
Revenue at Navios Maritime Partners LP Unit is growing +25.2% versus a year earlier (3y avg +3.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Navios Maritime Partners LP Unit (NMM)?
Earnings per share at Navios Maritime Partners LP Unit are growing +146% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Navios Maritime Partners LP Unit (NMM) generate?
The free cash flow of Navios Maritime Partners LP Unit is −$36.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Navios Maritime Partners LP Unit (NMM) carry?
The net debt of Navios Maritime Partners LP Unit is $2.0B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 7, 2026