Brookfield Infrastructure Partners LP (BIP) vs Unitil Corporation (UTL)

Brookfield Infrastructure Partners LP and Unitil Corporation are both Utilities Diversified companies. Brookfield Infrastructure Partners LP is the larger, with a market value of $24.5B against $1.1B — 23.3× the size. Unitil Corporation trades at the lower P/E: 18.3× against 61.0×. Unitil Corporation grew revenue faster over the last twelve months: 21.1% against 16.4%. Unitil Corporation has the higher net margin (9.06% vs 1.27%) and the higher return on invested capital (5.14% vs 4.24%). Both pay a dividend; Brookfield Infrastructure Partners LP yields more (4.75% vs 3.31%). Across the 22 metrics below, Brookfield Infrastructure Partners LP leads on 11 and Unitil Corporation on 11.

Valuation

Metric BIP UTL Utilities Diversified median
P/E 61.00 18.25 16.08
P/S 0.52 1.69 1.69
P/B 0.41 1.60 1.20
Price to free cash flow n/m n/m —
EV/EBITDA 6.85 8.45 10.48
EV/Sales 2.87 2.89 3.04
Earnings yield 1.64% 5.48% 6.25%
Free cash flow yield (6.95%) (3.89%) (6.95%)

Profitability

Metric BIP UTL Utilities Diversified median
Gross margin 26.53% 56.51% 26.53%
Operating margin 24.75% 18.55% 18.55%
Net margin 1.27% 9.06% 12.75%
Free cash flow margin (3.60%) (6.56%) (9.91%)
Return on equity 1.05% 8.91% 8.91%
Return on assets 0.28% 2.61% 2.67%
Return on invested capital 4.24% 5.14% 3.71%

Growth

Metric BIP UTL Utilities Diversified median
Revenue growth (TTM) 16.38% 21.12% 12.25%
EPS growth (last fiscal year) 2,150.00% 1.37% (1.56%)
Revenue growth, 5-year CAGR 21.06% 5.07% 5.07%
Net income growth, 5-year CAGR 26.07% 9.16% 9.16%

Health

Metric BIP UTL Utilities Diversified median
Debt to equity 1.92 1.16 1.19
Current ratio 0.89 0.50 0.89
Net debt to EBITDA 6.19 3.45 6.19

Dividend

Metric BIP UTL Utilities Diversified median
Dividend yield 4.75% 3.31% 4.74%
Payout ratio 2.90 0.60 0.63

Size

Metric BIP UTL Utilities Diversified median
Market cap 24.50b 1.05b 9.28b

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