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FGPR Fair Value & Analysis

Energy · US · Market cap $267M

F FGPR logo FGPR FGPR · US
Price$22.50
Fair Value$50.08
Upside+122.6%
Quality50/100
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Mixed Growth
Thin margins · 4.1% net margin
Negative equity (buybacks among others) · generates free cash flow
Mixed vs. peers (7/12)
Narrow moat 43/100
Evidence: Medium Range $19.13 – $90.50 Share as image

Fair value as of: Jul 24, 2026

From 12 valuation models · updated 17 days ago

Share price −2.2% over the past month.

A solid business, screening 123% undervalued on our models.

What matters now

  • The model range is unusually wide ($19.13 to $90.50). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

$27.20 $6.47 Fair Value $50.08 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range $6.47 – $27.20 · fair‑value band $19.13 – $90.50 · the $22.50 price screens below the $50.08 fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

FGPR (FGPR) currently trades at $22.50, while our model-based Fair Value estimate is $50.08, implying the stock looks roughly 122.6% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, FGPR generated revenue of $1.9B at a net margin of 4.1%. Revenue declined 6.5% year over year. Net debt stands at $1.4B. Fundamentals as of Jul 24, 2026

Our scenario range runs from $19.13 (bear case) to $90.50 (bull case); at $22.50, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 18% below its 52-week high and 163% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -48% fair-value upside, at 123%, FGPR screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Rev-Margin DCF $28.26 $89.04 74
ROIC Compounder $7.53 $27.45 $47.16 72
Gordon GGM $39.41 $57.57 $73.66 70
All 12 models by family
DCF Models
5Y Revenue Exit $28.49 $100.49 39
5Y EBITDA Exit $5.59 $59.16 41
10Y Revenue Exit $37.16 36
10Y EBITDA Exit $11.53 37
Earnings-Based
EPV $4.83 $19.82 $31.99 59
Dividend Discount
Gordon GGM $39.41 $57.57 $73.66 70
DDM Multi-Stage $39.41 $53.10 $65.36 61
Multiples
EV/EBIT $25.65 $74.23 $122.82 53
EV/EBITDA $6.34 $48.49 $90.64 54
EV/Revenue $23.25 $84.69 $146.13 43
Growth DCF
Rev-Margin DCF $28.26 $89.04 74
Economic Profit
ROIC Compounder $7.53 $27.45 $47.16 72

Widest divergence: Multiples ($74.23) versus DCF Models ($5.59). Highest evidence: Rev-Margin DCF (74).

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Key figures & financial health

Revenue (TTM) $1.9B
Revenue growth (YoY) -6.5%
Net margin 4.1%
Free cash flow $56.3M FY2025
Operating margin 11.5%
EPS (TTM) $-17.57
More key figures
EPS growth (YoY) +4.6%
Net debt $1.4B FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 46 · Market factors (momentum, volatility) 71

Profitability 56
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 87
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Ferrellgas Partners, L.P. retail distribution of propane, related equipment and supplies. It transports propane to propane distribution locations, tanks on customers' premises, or to portable propane tanks delivered to retailers.

Full company description

Ferrellgas Partners, L.P. retail distribution of propane, related equipment and supplies. It transports propane to propane distribution locations, tanks on customers' premises, or to portable propane tanks delivered to retailers. The company also conducts its portable tank exchange operations under the Blue Rhino brand name through a network of independent and partnership-owned distribution outlets. In addition, its propane is primarily used for space and water heating, cooking, outdoor cooking using gas grills, crop drying, irrigation, weed control, and other propane fueled appliances; as an engine fuel for combustion engine vehicles and forklifts; and as a heating or energy source in manufacturing and drying processes. Further, the company is involved in the sale of refined fuels; provision of common carrier services; and retail sale of propane appliances and related parts and fittings, as well as other retail propane related services and consumer products. It serves residential, industrial/commercial, portable tank exchange, agricultural, wholesale, and other customers in the United States, the District of Columbia, and Puerto Rico. As of July 31, 2025, the company operates through a network of 36 service centers and 664 service units for propane distribution locations. Ferrellgas Partners, L.P. was founded in 1939 and is based in Liberty, Missouri.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

FGPR reported revenue of $1.9B in FY2025 versus $1.8B in FY2021, a compound +2.5%/yr. Reported net income was −$15.4M in FY2025.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$1.9B
Latest YoY
+5.5%
Avg. growth/yr (3Y) 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.
−2.9%
Avg. growth/yr (5Y) 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.
+5.3%
Avg. growth/yr (31Y) 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.
+15.1%
Revenue +2.5%/yr
FY21 $1.8B
FY22 $2.1B
FY23 $2.0B
FY24 $1.8B
FY25 $1.9B
Net income
FY21 −$67.7M
FY22 $48.0M
FY23 $75.9M
FY24 $10.2M
FY25 −$15.4M
Character of growth · EPS growth decomposed (2014-2025) +1.6 % p.a.
Revenue per share −3.3 pp

of which total revenue −1.5 pp · buybacks/dilution −1.8 pp

EBIT margin +6.9 pp
Tax rate +0.2 pp
Residual (interest, one-offs) −2.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "FGPR Fair Value". https://www.fairvalue-calculator.com/stock/FGPR

Peer Group

Oil & Gas Refining & Marketing · 114 stocks

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.

Quality Score 50 · Below median
Fair Value upside +123% · Top 25%
Return on assets 14% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth -7% · Bottom 25%

Valuation Multiples vs Oil & Gas Refining & Marketing median · lower = cheaper

P/S (TTM) 0.14× · Cheaper than median
P/FCF 4.7× · Pricier than median
EV/EBITDA 3.8× · Cheaper than 75% of peers
PEG 11.27× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 15
FUTURE 0 · sector 15
PAST 0 · sector 32
HEALTH 100 · sector 80
DIVIDEND 0 · sector 50

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Reliance Industries Limited RELIANCE ₹1,293 ₹835.66 -35%
Valero Energy Corporation VLO $309.65 $127.32 -59%
Marathon Petroleum Corporation MPC $283.74 $135.80 -52%
Phillips 66 PSX $196.16 $101.04 -48%
Neste Oyj NESTE €31.10 €4.07 -87%
Formosa Petrochemical Corporation 6505 81.30 TWD 16.68 TWD -79%
Indian Oil Corporation IOC ₹138.96 ₹417.35 +200%
HF Sinclair Corporation DINO $88.59 $48.90 -45%
Bharat Petroleum Corporation BPCL ₹315.55 ₹846.81 +168%
SK Innovation Co 096770 121,400 KRW 58,865 KRW -52%

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Frequently asked questions

Is FGPR overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of $50.08 versus a price of $22.50, about +123% (undervalued).
What is the fair value of FGPR?
Our model-based fair value for FGPR is $50.08 (as of Jul 24, 2026), built from audited fundamentals. The current price is $22.50.
What is the quality score of FGPR?
FGPR has a Quality Score of 50/100. 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 revenue of FGPR?
FGPR reported trailing-twelve-month revenue of about $1.9B (latest available figure, as of Jul 24, 2026).
What is the net profit margin of FGPR?
The net profit margin of FGPR is about 4.1%, meaning it keeps roughly 4.1% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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