Seapeak LLC

SEAL-PA
About the company

Seapeak LLC provides marine transportation services focusing on liquefied Natural Gas and Natural Gas Liquid. Seapeak LLC was formerly known as Teekay LNG Partners L.P. and changed its name to Seapeak LLC in February 2022. The company was incorporated in 2004 and is based in Vancouver, Canada.

Country: BermudaPrice: $25.18Market Cap: $2.0B

Investment snapshot

29%positive consensus
Scored 1d ago

Positive

4

BUY / PASS

Neutral / negative

1 / 11

NEUTRAL / FAIL

Median fair value

$16.82

-33.2% vs price

Models with upside

0 / 17

Positive margin of safety

Strongest signal

6 of 10 pass — Buffett, Dreman, Ackman +1 more object

Key risk

12 of 13 flag SEAL-PA's valuation — Graham, Lynch, Greenblatt +9 more

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

MetricGraham

Defensive Value

Buffett

Quality Compounder

Lynch

GARP

Greenblatt

Magic Formula

Piotroski

F-Score

Dreman

Contrarian Value

Munger

Quality Focus

Pabrai

Dhandho Framework

Akre

Three-Legged Stool

Marks

Risk-Aware Value

Ackman

Activist Value

Templeton

Global Bargain Hunter

Sleep

Scale Economies Shared

Asness

Systematic Factors

Neff

Low-P/E Total Return

Schloss

Asset-Value Discipline

O'Shaughnessy

Systematic Factor Composite

VerdictFAILFAILFAILBUY · Rank #477 (Top 15.4%)PASSPASSPASSFAILFAILFAILFAILPASSFAILFAILFAILFAILNEUTRAL
Score
AnalysisChecking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…
Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/AN/AN/AN/AN/AN/AN/AN/A-49.7%N/AN/AN/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2025

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025 · Market data at 2026-11-01

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025 · Market data at 2026-11-01

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-03-18

Score computed: 2026-11-14

Where It Passes

  • Cash Flow60% pass✓ 7✗ 5▾

    6 of 10 pass — Buffett, Dreman, Ackman +1 more object

    Free Cash Flow Proxy$108.7M
    ✗BuffettPositive and growing
    FCF Positive and Growing$211.6M
    ✓LynchPositive and growing
    Operating Cash Flow$272.9M
    ✓PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=5.31%, ROA=0.51%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)
    ✗Dreman< 8x
    P/E or FCF YieldFCF Yield=10.8%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive9/13 years FCF positive
    ✓MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap
    ✗Ackman>= 4%
    Price / FCF per Share
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency18/18 years positive
    ✓SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$211.6M
    ✓Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization+10.84%; #665/4519 (top 14.7%)
    ✗OshaughnessyTop 10% of eligible cross-section

Where It Falls Short

  • Valuation8% pass✓ 3✗ 25▾

    12 of 13 flag SEAL-PA's valuation — Graham, Lynch, Greenblatt +9 more

    Price / 3-yr avg EPS
    ✗Graham<= 15x
    Price-to-Book Ratio
    ✗Graham<= 1.5x
    P/E x P/B
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value4.8%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=4.8%, ROC=138.9%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Price / EPS
    ✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
    Price / (CFO / Shares)
    ✗Dreman< 8x
    Price / Book Value per Share
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation Reasonableness
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=10.8%
    ✓PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical Average
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic Value
    ✗Marks>= 20% below intrinsic value
    Price / FCF per Share
    ✗Ackman<= 25
    Price vs. Trailing Low101% of trailing low ($25.03)
    ✓Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization+1.33%; #2898/6340 (top 45.7%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization+1.1000; #1323/6449 (top 20.5%)
    ✓AsnessTop 30% of eligible cross-section
    Price / Diluted EPS
    ✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
    (EPS CAGR % + Dividend Yield %) / P/E
    ✗Neff> 0.7 (Neff's published traditional edge)
    Price / Tangible Book Value per Share
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.3264; #3206/5247 (top 61.1%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization+10.84%; #665/4519 (top 14.7%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date-1.66%; #2902/6202 (top 46.8%)
    ✗OshaughnessyTop 10% of eligible cross-section
  • Profitability13% pass✓ 8✗ 27▾

    14 of 16 flag SEAL-PA's profitability — Graham, Buffett, Lynch +11 more

    Positive EPS (10 years)11/18 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)16/18 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)6.6%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)20.5% (latest)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy$108.7M
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)0.54
    ✗BuffettCoV < 0.3
    Retained Earnings Effectiveness
    ✗Buffett$1 retained -> > $1 market value created
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR7.6%
    ✓Lynch15-30% (Fast Grower); > 0% to pass
    ROE1.2%
    ✗Lynch> 15%
    EBIT / Enterprise Value4.8%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=4.8%, ROC=138.9%
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets0.51%
    ✓PiotroskiROA > 0
    ROA Change YoY-1.78% -> 0.51% (delta: +2.29%)
    ✓PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=5.31%, ROA=0.51%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY98.4% -> 98.1%
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue4.6%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity1.2%
    ✗Dreman> 12%
    Margin of Safety
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity3.1% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic Value
    ✗Marks>= 20% below intrinsic value
    Positive Net Income Frequency16/18 years positive
    ✓MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue20.5%
    ✓Ackman>= 15%
    Net Income / Shareholders Equity1.2%
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend43.4% (2023) -> 20.5% (2025)
    ✗TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendgross margin 97.1% -> 98.1%, operating margin 43.4% -> 20.5%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization+1.33%; #2898/6340 (top 45.7%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Gross profit / total assets+12.16%; #2637/3702 (top 71.2%)
    ✗AsnessTop 30% of eligible cross-section
    Net income / positive book equity+1.21%; #2830/5226 (top 54.2%)
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-0.0291; #1871/5884 (top 31.8%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR7.6% over 5 years
    ✓Neff7%-20% annualized
    Positive Diluted-EPS Years6/6 years positive
    ✓Schloss>= 70% positive over 5-10 observed years (app rule)
  • Efficiency13% pass✓ 1✗ 10▾

    7 of 8 flag SEAL-PA's efficiency — Graham, Buffett, Piotroski +4 more

    Current Ratio0.42
    ✗Graham>= 2.0
    ROIC (3-5 yr avg)3.7%
    ✗Buffett> 10%
    ROIC - WACC-6.3%
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)138.9%
    ✓Greenblatt> 25%
    Current Ratio Change YoY0.61 -> 0.42
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.13x -> 0.12x
    ✗PiotroskiImproved YoY
    Current Assets / Current Liabilities0.42
    ✗Dreman> 1.5
    Return on Invested Capital3.4%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=6.8%; FY2024: ROIC=-2.3%; FY2025: ROIC=3.4%
    ✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
    Reinvestment Rate x ROIC0.0% (RR=0% x ROIC=3.4%)
    ✗AkreReinvestment Rate * ROIC > 10%
    ROIC (5-year)0/5 years above 12% (latest 3.4%)
    ✗SleepROIC > 12% in a majority of years
  • Verdicts31% pass✓ 5✗ 11▾

    Split decision: 11 FAIL · 4 PASS · 1 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (2/9)✗BuffettFAIL (0/9)✗LynchFAIL (3/7)✓GreenblattRank #477✓PiotroskiPASS (F-Score 5)✓DremanPASS (5/11)✓MungerPASS (2/4)✗PabraiFAIL (1/3)✗AkreFAIL (1/6)✗MarksFAIL (2/5)✗AckmanFAIL (3/9)✓TempletonPASS (4/8)✗SleepFAIL (1/6)✗AsnessFAIL (Rank #1204/2370 (Top 50.8%))✗NeffFAIL (3/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked)
  • Debt & Leverage33% pass✓ 6✗ 9▾

    8 of 12 flag SEAL-PA's debt & leverage — Graham, Buffett, Lynch +5 more

    Debt Levels0.42
    ✓MungerDebt/Equity < 0.5✗AkreDebt/Equity < 0.3
    LT Debt vs Net Current AssetsLT Debt $595.9M vs NCA $-407.7M
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: 0.42, IC: 0.8x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / Equity0.42
    ✗Lynch< 0.33
    Cash - Long-term Debt$-473.0M
    ✗LynchPositive preferred
    LT Debt / Total Assets Change16.41% -> 11.60%
    ✓PiotroskiDecreased YoY
    Current Assets / Current Liabilities0.42
    ✗Dreman> 1.5✗SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity0.42
    ✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
    Interest Coverage & Debt/EBITDAIC=0.8x, D/EBITDA=3.2x
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity0.42
    ✓Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)-0.4156; #2281/4210 (top 54.2%)
    ✗AsnessTop 30% of eligible cross-section
  • Growth38% pass✓ 6✗ 7▾

    5 of 8 flag SEAL-PA's growth — Graham, Lynch, Ackman +2 more

    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    3-5 Year EPS CAGR7.6%
    ✓Lynch15-30% (Fast Grower); > 0% to pass
    Inventory Growth vs Revenue GrowthN/A (no inventory)
    ✓LynchInventory growth < Revenue growth
    EPS Growth Direction$1.33 (2011) -> $2.44 (2021)
    ✓DremanPositive over recent years
    EPS CAGR6.3% CAGR over 10 years
    ✓Dreman> 5% annualized
    Positive Net Income Frequency16/18 years positive
    ✓MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth-2.2%
    ✗Ackman>= 5%
    Positive EPS Growth Frequency1/1 years with positive EPS growth
    ✗AckmanPositive EPS growth in >= 3 of last 5 years
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Revenue growth vs. gross and operating margin trendgross margin 97.1% -> 98.1%, operating margin 43.4% -> 20.5%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    5-year Revenue CAGR1.5%
    ✗SleepCAGR > 7%
    3-5 Year Diluted EPS CAGR7.6% over 5 years
    ✓Neff7%-20% annualized

Business & financials

Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.

Company Profile

Industry: Transportation
SIC Sector: Water Transportation
Size: Small Cap($2.0B)
Revenue: $637.0M-10.4% YoY
Net Income: $26.0M+127.1% YoY

Financial Snapshot

Operating Margin20.5%
Return on Equity1.2%
Debt / Equity0.42
Current Ratio0.42

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Shareholder Return

Fiscal 2025

Share retirement not available for this company.

Buybacks
—
Dividends
$125.1M

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

MetricFY 2025
Sources
  • 20-F · 2026-03-18
FY 2024
Sources
  • 20-F · 2025-03-14
FY 2023
Sources
  • 20-F · 2024-03-22
FY 2022
Sources
  • 20-F · 2023-03-31
FY 2021
Sources
  • 20-F · 2022-04-04
Market Cap$2.0Bcurrent--------
Revenue$637.0M↓10%$710.7M↓2%$726.8M↑16%$624.5M↑4%$597.8M
Operating Income$130.9M↑238%-$94.5M↓130%$315.3M↑78%$177.3M↓28%$246.5M
Net Income$26.0M↑127%-$95.8M↓130%$317.7M↑32%$241.6M↓5%$255.5M
EPS (Diluted)--------$2.44
Gross Margin98.1%98.4%↑1%97.1%↑3%94.5%↓1%95.3%
Operating Margin20.5%↑255%-13.3%↓131%43.4%↑53%28.4%↓31%41.2%
ROE1.2%↑128%-4.3%↓135%12.3%↑16%10.6%↓20%13.2%
Total Debt$892.1M↓16%$1.1B↓1%$1.1B↓24%$1.4B↑2%$1.4B
Shareholders' Equity$2.1B↓4%$2.2B↓13%$2.6B↑13%$2.3B↑18%$1.9B
Current Ratio0.42↓30%0.61↓13%0.70↑27%0.55↓8%0.59
Debt / Equity0.42↓12%0.47↑14%0.41↓33%0.62↓14%0.72
Operating Cash Flow$272.9M↓31%$395.3M↑9%$362.7M↑31%$276.8M↑39%$198.9M
Free Cash Flow$211.6M↑54%$137.6M↓36%$214.7M↑27%$168.8M↑8%$156.9M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Transportation

SEAL-PA vs Peers — Financial Grading

Revenue$637.0MBottom 25%
Net Income$26.0MBottom 25%
ROE1.2%Bottom 25%
D/E0.42Top 25%
Op. Margin20.5%Bottom 25%
Curr. Ratio0.42Median
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
UNION PACIFIC CORPUNP$179.7B$302.44$24.5B$7.1B38.7%1.7240.2%0.912/94/94/70/3F-Score 73/11
CSX CORPCSX$95.9B$52.05$14.1B$2.9B22.0%1.4332.1%0.812/94/93/70/3F-Score 53/11
ROYAL CARIBBEAN CRUISES LTDRCL$86.5B$323.27$17.9B$4.3B42.5%2.1327.4%0.181/91/91/70/3F-Score 73/11
CANADIAN NATIONAL RAILWAY COCNI$76.3B$127.18————————————
NORFOLK SOUTHERN CORPNSC$73.6B$327.88$12.2B$2.9B18.5%1.1035.8%0.853/96/93/70/3F-Score 65/11
MPLX LPMPLX$58.0B$57.25$13.0B$5.0B34.6%1.7945.7%1.232/94/94/71/3F-Score 68/11
Carnival Corp Ltd.CCL$39.3B$29.23$26.6B$2.8B22.5%2.1716.8%0.321/91/92/70/3F-Score 74/11
OLD DOMINION FREIGHT LINE, INC.ODFL$36.0B$174.54$5.5B$1.0B23.7%0.0124.8%1.443/97/95/71/3F-Score 65/11