BW LPG Limited (BWLP) vs Golar LNG Limited (GLNG)

BW LPG Limited and Golar LNG Limited are both Oil & Gas Midstream companies. Golar LNG Limited is the larger, with a market value of $5.1B against $3.7B — 1.4× the size. BW LPG Limited trades at the lower P/E: 8.2× against 31.4×. Golar LNG Limited grew revenue faster over the last twelve months: 59.7% against −0.78%. Golar LNG Limited has the higher net margin (35.7% vs 12.6%) and the lower return on invested capital (3.71% vs 13.9%). Across the 19 metrics below, BW LPG Limited leads on 13 and Golar LNG Limited on 6.

Valuation

Metric BWLP GLNG Oil & Gas Midstream median
P/E 8.21 31.40 13.19
P/S 1.04 11.08 2.60
P/B 1.79 2.29 2.08
Price to free cash flow 5.33 n/m 10.14
EV/EBITDA 5.09 22.86 8.11
EV/Sales 1.19 14.74 3.89
Earnings yield 12.18% 3.18% 6.83%
Free cash flow yield 18.76% (8.71%) 6.94%

Profitability

Metric BWLP GLNG Oil & Gas Midstream median
Gross margin 25.94% 65.48% 58.81%
Operating margin 16.17% 50.45% 32.14%
Net margin 12.64% 35.65% 21.16%
Free cash flow margin 19.52% (96.52%) 10.15%
Return on equity 22.47% 7.21% 11.30%
Return on assets 13.16% 6.05% 5.00%
Return on invested capital 13.88% 3.71% 6.13%

Growth

Metric BWLP GLNG Oil & Gas Midstream median
Revenue growth (TTM) (0.78%) 59.70% 15.44%
EPS growth (last fiscal year) (39.39%) 35.42% —
Revenue growth, 5-year CAGR — (2.15%) 8.96%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BWLP GLNG Oil & Gas Midstream median
Debt to equity 0.42 1.22 0.78
Current ratio 1.44 2.34 1.19
Net debt to EBITDA 1.07 9.20 3.42

Dividend

Metric BWLP GLNG Oil & Gas Midstream median
Dividend yield — 4.66% 7.29%
Payout ratio — 0.27 0.64

Size

Metric BWLP GLNG Oil & Gas Midstream median
Market cap 3.67b 5.10b 3.61b

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