About this website

The website explains how distributable cash flow (DCF) is defined and why it is important to analyze it and derive a sustainable measure of DCF. Results reported by master limited partnerships (MLPs) are analyzed. comparisons of reported DCF to sustainable DCF are generated, and various coverage ratios and reports analyzing performance are generated. Simplified sources and uses of funds statements are presented to focus readers' attention on key cash flow items. The website also features general articles about MLPs and about other topics of interest to yield-focused investors.

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Disclaimer

The documents and opinions in this website are for informational and educational purposes only and should not be construed as a recommendation to buy or sell the securities mentioned or to solicit transactions or clients. The information in this website is believed, but not guaranteed, to be accurate. All content on this website is presented as of the date published, is not updated and may be superseded by subsequent market events or for other reasons Under no circumstances should a person act upon the information contained within without first conducting his/her own independent research and consulting with his/her investment advisor and tax professional as to whether such action is suitable based on the investor’s investment objectives, personal and financial situation, and specific legal or tax situation.

NRGY: A Closer Look at Inergy L.P.’s Distributable Cash Flow as of 1Q FY2013

Author: Ron Hiram

Published: February 16, 2013

On February 5, 2013, Inergy L.P. (NRGY) reported results of operations for the first quarter of fiscal 2013 (1QFY13) ending 12/31/12. Revenues, operating income, net income, earnings before interest, depreciation & amortization and income tax expenses (EBITDA) and other key parameters for 1QFY13 and for the trailing 12 […]

Trailing Twelve Months Performance Comparison of Selected MLPs

Author: Ron Hiram

Published: December 16, 2012; updated Dec 17

Distributable cash flow (“DCF”) is a quantitative standard viewed by investors, analysts and the general partners of many master limited partnerships (“MLPs”) as an indicator of the MLP’s ability to generate cash flow at a level that can sustain or support an increase in quarterly […]

NRGY: A Closer Look at Inergy L.P.’s Distributable Cash Flow in Fiscal 2012

Author: Ron Hiram

Published: December 10, 2012

On November 21, 2012, Inergy L.P. (NRGY) reported results of operations for the fiscal year ended 9/30/12. Revenues, operating income, net income and earnings before interest, depreciation & amortization and income tax expenses (EBITDA) for the fourth fiscal quarters and the fiscal years ending September 30 are summarized […]

A Closer Look at Trailing Twelve Months Performance of Selected MLPs

Author: Ron Hiram

Published: October 31, 2012

Distributable cash flow (“DCF”) is a quantitative standard viewed by investors, analysts and the general partners of many master limited partnerships (“MLPs”) as an indicator of the MLP’s ability to generate cash flow at a level that can sustain or support an increase in quarterly distribution rates. […]

A Closer Look at Trailing Twelve Months Performance of Selected MLPs

Distributable cash flow (“DCF”) is a quantitative standard viewed by investors, analysts and the general partners of many master limited partnerships (“MLPs”) as an indicator of the MLP’s ability to generate cash flow at a level that can sustain or support an increase in quarterly distribution rates. Since DCF is not a Generally Accepted Accounting […]