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 ($3.7B and $3.5B). DHT Holdings, Inc. trades at the lower P/E: 7.4× against 8.2×. 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%). Across the 20 metrics below, DHT Holdings, Inc. leads on 14 and BW LPG Limited on 6.

Valuation

Metric BWLP DHT Oil & Gas Midstream median
P/E 8.21 7.41 13.19
P/S 1.04 4.85 2.60
P/B 1.79 2.64 2.08
Price to free cash flow 5.33 18.78 10.14
EV/EBITDA 5.09 6.35 8.11
EV/Sales 1.19 5.23 3.89
Earnings yield 12.18% 13.50% 6.83%
Free cash flow yield 18.76% 5.33% 6.94%

Profitability

Metric BWLP DHT Oil & Gas Midstream median
Gross margin 25.94% 74.23% 58.81%
Operating margin 16.17% 67.31% 32.14%
Net margin 12.64% 65.52% 21.16%
Free cash flow margin 19.52% 25.84% 10.15%
Return on equity 22.47% 39.17% 11.30%
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% 15.44%
EPS growth (last fiscal year) (39.39%) 16.96% —
Revenue growth, 5-year CAGR — (6.33%) 8.96%
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 — 14.99% 7.29%
Payout ratio — 0.69 0.64

Size

Metric BWLP DHT Oil & Gas Midstream median
Market cap 3.67b 3.47b 3.61b

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