Navios Maritime Partners LP (NMM) is undervalued and Star Bulk Carriers Corp (SBLK) is undervalued.
Against our estimates of intrinsic value, NMM trades at the wider discount: a margin of safety of +80%, against +34% for SBLK.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.8% (average of 3 methods) values the shares at $431.38; the price of $88.11 is 80% below that value, and 82% of that value comes from beyond year five.
Leak Score 68/100 on 3 of 12 signals
Discounting its cash flows at 8.2% (average of 3 methods) values the shares at $46.71; the price of $30.94 is 34% below that value, and 79% of that value comes from beyond year five.
Leak Score 84/100 on 3 of 12 signals
| Metric | NMM | SBLK |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $88.11 | $30.94 |
| Intrinsic value | $431.38 | $46.71 |
| Margin of safety | +80% | +34% |
| Leak Score | 68/100 (3/12) | 84/100 (3/12) |
| Market cap | $2.5B | $3.5B |
| Revenue growth, 5 years | 42.8% | 8.5% |
| Operating margin | 34.7% | 27.8% |
| Net margin | 29.6% | 23.9% |
| Return on equity | 13.2% | 11.7% |
| Debt to equity | 0.70 | 0.41 |
| P/E | 5.8x | 12.1x |
| Forward P/E | 4.3x | 7.5x |
| P/B | 0.7x | 1.4x |
| Dividend yield | 0.3% | 12.8% |