Is Navios Maritime Partners (NMM) Still Attractive After Recent 1-Year Rally?

Simply Wall St

Tue, February 24, 2026 at 2:09 PM GMT+9 4 min read

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This article is aimed at helping you decide whether Navios Maritime Partners is still attractively priced after its recent run, or if most of the value is already reflected in the current price, using clear valuation checks.

The stock most recently closed at US$68.28, with returns of 10.2% over 7 days, 19.0% over 30 days, 32.9% year to date, 58.6% over 1 year and 158.0% over 3 years.

Recent coverage has focused on Navios Maritime Partners as a listed shipping partnership, highlighting how its business mix and capital allocation decisions relate to those share price moves. Investors are using that context to reassess what they are willing to pay for the units today.

On our valuation checks, Navios Maritime Partners records a value score of 5/6. This invites a closer look at how different valuation approaches compare, and points to a broader way to think about fair value that we will address at the end.

Navios Maritime Partners delivered 58.6% returns over the last year. See how this stacks up to the rest of the Shipping industry.

Approach 1: Navios Maritime Partners Discounted Cash Flow (DCF) Analysis

A Discounted Cash Flow, or DCF, model estimates what a business could be worth today by projecting its future cash flows and discounting them back to the present. In this case, the model used is a 2 Stage Free Cash Flow to Equity approach, based on cash flow projections in US$.

Navios Maritime Partners most recently reported last twelve month free cash flow of a loss of US$168.7 million. The model then uses analyst estimates out to 2028, followed by extrapolated figures supplied by Simply Wall St up to 2035. For example, projected free cash flow in 2028 is US$720.0 million, with later extrapolated years reaching between about US$1.1 billion and US$3.3 billion, all discounted back to today.

On this basis, the DCF model arrives at an estimated intrinsic value of US$666.86 per unit. Compared with the recent unit price of US$68.28, this output suggests that the units may be trading at an 89.8% discount to the modelled value, indicating that the units could be materially undervalued on this approach.

Result: UNDERVALUED

Our Discounted Cash Flow (DCF) analysis suggests Navios Maritime Partners is undervalued by 89.8%. Track this in your watchlist or portfolio, or discover 56 more high quality undervalued stocks.

NMM Discounted Cash Flow as at Feb 2026

Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Navios Maritime Partners.

Story Continues  

Approach 2: Navios Maritime Partners Price vs Earnings

For profitable companies, the P/E ratio is a straightforward way to connect what you pay per unit with the earnings that each unit represents. It helps you see how many years of current earnings the market is effectively pricing in.

What counts as a “normal” P/E depends on how the market views a company’s growth potential and risk. Higher expected growth or lower perceived risk can justify a higher P/E, while lower growth expectations or higher risk usually mean a lower multiple.

Navios Maritime Partners currently trades on a P/E of 6.99x. That sits below the Shipping industry average P/E of 10.57x and also below the peer group average of 14.94x. Simply Wall St’s Fair Ratio for Navios Maritime Partners is 13.67x, which is its proprietary view of what the P/E might be given factors such as earnings growth, profit margin, industry, market cap and risk profile.

The Fair Ratio can be more informative than a simple industry or peer comparison because it adjusts for company specific traits rather than assuming all Shipping stocks should trade on similar multiples. Comparing 6.99x with the Fair Ratio of 13.67x indicates the units screen as undervalued on this metric.

Result: UNDERVALUED

NYSE:NMM P/E Ratio as at Feb 2026

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Upgrade Your Decision Making: Choose your Navios Maritime Partners Narrative

Earlier we mentioned that there is an even better way to understand valuation, and on Simply Wall St that comes through Narratives. You set out your story for Navios Maritime Partners, link it to assumptions for future revenue, earnings, margins and discount rate, and let the platform turn that into a fair value you can compare with the current price. All of this happens within the Community page used by millions of investors. Your view might look like the optimistic Narrative that sees stable margins near 27.5%, revenue growth of about 3.42%, a future P/E of 8.09x and fair value of US$80 per unit. Someone more cautious might keep lower growth or margins and a different multiple. As news or earnings come in, those Narratives refresh so you can quickly see whether your fair value still supports holding, adding, or reducing your exposure.

Do you think there’s more to the story for Navios Maritime Partners? Head over to our Community to see what others are saying!

NYSE:NMM 1-Year Stock Price Chart

_ This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned._

Companies discussed in this article include NMM.

Have feedback on this article? Concerned about the content? Get in touch with us directly._ Alternatively, email editorial-team@simplywallst.com_

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