Barnwell Industries, Inc. (BRN) vs CKX Lands, Inc. (CKX)

Barnwell Industries, Inc. and CKX Lands, Inc. are both Oil & Gas E&P companies. CKX Lands, Inc. is the larger, with a market value of $22.4M against $14.0M — 1.6× the size. Barnwell Industries, Inc. has negative trailing earnings, so its P/E is not meaningful; CKX Lands, Inc. trades at 7.6×. Barnwell Industries, Inc. grew revenue faster over the last twelve months: −13.2% against −17.1%. CKX Lands, Inc. has the higher net margin (419.8% vs −46.7%) and the higher return on invested capital (50.9% vs −74.5%). Across the 17 metrics below, CKX Lands, Inc. leads on 14 and Barnwell Industries, Inc. on 3.

Valuation

Metric BRN CKX Oil & Gas E&P median
P/E n/m 7.62 10.57
P/S 1.15 32.04 1.80
P/B 1.51 1.03 1.27
Price to free cash flow n/m 2.69 9.99
EV/EBITDA n/m 1.41 5.08
EV/Sales 0.78 6.73 2.39
Earnings yield (52.13%) 13.12% 6.06%
Free cash flow yield (12.32%) 37.23% 6.17%

Profitability

Metric BRN CKX Oil & Gas E&P median
Gross margin 28.37% 95.43% 80.41%
Operating margin (45.66%) 478.47% 21.39%
Net margin (46.69%) 419.79% 14.17%
Free cash flow margin (14.22%) (14.22%) 9.71%
Return on equity (62.16%) 14.43% 10.05%
Return on assets (24.07%) 14.28% 5.81%
Return on invested capital (74.45%) 50.86% 6.32%

Growth

Metric BRN CKX Oil & Gas E&P median
Revenue growth (TTM) (13.17%) (17.06%) 9.94%
EPS growth (last fiscal year) (26.79%) 1,125.00% —
Revenue growth, 5-year CAGR (5.68%) 4.53% 18.67%
Net income growth, 5-year CAGR 0.00% 54.73% 0.00%

Health

Metric BRN CKX Oil & Gas E&P median
Debt to equity 0.00 0.00 0.28
Current ratio 1.90 124.60 0.96
Net debt to EBITDA 2.06 (4.94) 0.91

Dividend

Metric BRN CKX Oil & Gas E&P median
Dividend yield 1.87% — 4.93%
Payout ratio 0.00 0.00 0.07

Size

Metric BRN CKX Oil & Gas E&P median
Market cap 14.00m 22.35m 923.59m

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