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 $4.6B against $3.7B — 1.2× the size. BW LPG Limited trades at the lower P/E: 8.4× against 28.6×. 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 (10.4% vs 2.21%). 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 8.40 28.65 12.77
P/S 1.06 10.11 2.36
P/B 1.83 2.09 2.09
Price to free cash flow 5.46 n/m 9.71
EV/EBITDA 5.20 21.35 8.30
EV/Sales 1.21 13.77 3.88
Earnings yield 11.90% 3.49% 7.15%
Free cash flow yield 18.33% (9.55%) 6.86%

Profitability

Metric BWLP GLNG Oil & Gas Midstream median
Gross margin 25.94% 65.48% 56.58%
Operating margin 16.17% 50.45% 34.18%
Net margin 12.64% 35.65% 22.50%
Free cash flow margin 19.52% (96.52%) 13.70%
Return on equity 22.47% 7.21% 14.65%
Return on assets 13.16% 3.32% 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% 15.60%
EPS growth (last fiscal year) (39.39%) 35.42% (7.86%)
Revenue growth, 5-year CAGR — (2.15%) 9.59%
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 10.37% 2.21% 4.54%
Payout ratio 0.87 0.63 0.76

Size

Metric BWLP GLNG Oil & Gas Midstream median
Market cap 3.72b 4.59b 3.73b

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