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 $4.4B against $3.3B — 1.3× the size. BW LPG Limited trades at the lower P/E: 7.4× against 27.1×. 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%). Both pay a dividend; BW LPG Limited yields more (11.8% vs 2.34%). Across the 20 metrics below, BW LPG Limited leads on 14 and Golar LNG Limited on 6.

Valuation

Metric BWLP GLNG Oil & Gas Midstream median
P/E 7.38 27.08 11.68
P/S 0.94 9.56 2.39
P/B 1.61 1.98 1.68
Price to free cash flow 4.79 n/m 8.52
EV/EBITDA 4.64 20.49 9.03
EV/Sales 1.08 13.22 3.43
Earnings yield 13.55% 3.69% 7.78%
Free cash flow yield 20.87% (10.10%) 7.11%

Profitability

Metric BWLP GLNG Oil & Gas Midstream median
Gross margin 25.94% 65.48% 54.87%
Operating margin 16.17% 50.45% 34.73%
Net margin 12.64% 35.65% 20.12%
Free cash flow margin 19.52% (96.52%) 14.43%
Return on equity 22.47% 7.21% 11.73%
Return on assets 13.16% 3.32% 4.43%
Return on invested capital 13.88% 3.71% 6.10%

Growth

Metric BWLP GLNG Oil & Gas Midstream median
Revenue growth (TTM) (0.78%) 59.70% 14.88%
EPS growth (last fiscal year) (39.39%) 35.42% (7.78%)
Revenue growth, 5-year CAGR — (2.15%) 10.05%
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 0.77
Current ratio 1.44 2.34 1.19
Net debt to EBITDA 1.07 9.20 3.46

Dividend

Metric BWLP GLNG Oil & Gas Midstream median
Dividend yield 11.80% 2.34% 4.94%
Payout ratio 0.87 0.63 0.73

Size

Metric BWLP GLNG Oil & Gas Midstream median
Market cap 3.28b 4.35b 3.56b

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