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 ($3.8B and $3.7B). DHT Holdings, Inc. trades at the lower P/E: 8.0× against 8.4×. 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 (10.4% vs 10.4%). 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 8.40 8.03 12.77
P/S 1.06 5.26 2.36
P/B 1.83 2.86 2.09
Price to free cash flow 5.46 20.35 9.71
EV/EBITDA 5.20 6.84 8.30
EV/Sales 1.21 5.63 3.88
Earnings yield 11.90% 12.46% 7.15%
Free cash flow yield 18.33% 4.91% 6.86%

Profitability

Metric BWLP DHT Oil & Gas Midstream median
Gross margin 25.94% 74.23% 56.58%
Operating margin 16.17% 67.31% 34.18%
Net margin 12.64% 65.52% 22.50%
Free cash flow margin 19.52% 25.84% 13.70%
Return on equity 22.47% 39.17% 14.65%
Return on assets 13.16% 29.26% 5.00%
Return on invested capital 13.88% 18.99% 6.13%

Growth

Metric BWLP DHT Oil & Gas Midstream median
Revenue growth (TTM) (0.78%) 38.93% 15.60%
EPS growth (last fiscal year) (39.39%) 16.96% (7.86%)
Revenue growth, 5-year CAGR — (6.33%) 9.59%
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 0.78
Current ratio 1.44 3.64 1.19
Net debt to EBITDA 1.07 1.05 3.42

Dividend

Metric BWLP DHT Oil & Gas Midstream median
Dividend yield 10.37% 10.38% 4.54%
Payout ratio 0.87 0.83 0.76

Size

Metric BWLP DHT Oil & Gas Midstream median
Market cap 3.72b 3.78b 3.73b

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