BW LPG Limited (BWLP) vs DHT Holdings, Inc. (DHT)

BW LPG Limited and DHT Holdings, Inc. are both Oil & Gas Midstream companies. BW LPG Limited and DHT Holdings, Inc. are of similar size ($3.3B and $3.3B). DHT Holdings, Inc. trades at the lower P/E: 7.0× against 7.4×. DHT Holdings, Inc. grew revenue faster over the last twelve months: 38.9% against −0.78%. DHT Holdings, Inc. has the higher net margin (65.5% vs 12.6%) and the higher return on invested capital (19.0% vs 13.9%). Both pay a dividend; DHT Holdings, Inc. yields more (11.9% vs 11.8%). Across the 21 metrics below, DHT Holdings, Inc. leads on 15 and BW LPG Limited on 6.

Valuation

Metric BWLP DHT Oil & Gas Midstream median
P/E 7.38 7.02 11.68
P/S 0.94 4.60 2.39
P/B 1.61 2.50 1.68
Price to free cash flow 4.79 17.79 8.52
EV/EBITDA 4.64 6.04 9.03
EV/Sales 1.08 4.97 3.43
Earnings yield 13.55% 14.25% 7.78%
Free cash flow yield 20.87% 5.62% 7.11%

Profitability

Metric BWLP DHT Oil & Gas Midstream median
Gross margin 25.94% 74.23% 54.87%
Operating margin 16.17% 67.31% 34.73%
Net margin 12.64% 65.52% 20.12%
Free cash flow margin 19.52% 25.84% 14.43%
Return on equity 22.47% 39.17% 11.73%
Return on assets 13.16% 29.26% 4.43%
Return on invested capital 13.88% 18.99% 6.10%

Growth

Metric BWLP DHT Oil & Gas Midstream median
Revenue growth (TTM) (0.78%) 38.93% 14.88%
EPS growth (last fiscal year) (39.39%) 16.96% (7.78%)
Revenue growth, 5-year CAGR — (6.33%) 10.05%
Net income growth, 5-year CAGR — (4.54%) 0.00%

Health

Metric BWLP DHT Oil & Gas Midstream median
Debt to equity 0.42 0.33 0.77
Current ratio 1.44 3.64 1.19
Net debt to EBITDA 1.07 1.05 3.46

Dividend

Metric BWLP DHT Oil & Gas Midstream median
Dividend yield 11.80% 11.88% 4.94%
Payout ratio 0.87 0.83 0.73

Size

Metric BWLP DHT Oil & Gas Midstream median
Market cap 3.28b 3.30b 3.56b

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