BW LPG Limited (BWLP) vs Teekay Tankers Ltd. (TNK)

BW LPG Limited and Teekay Tankers Ltd. are both Oil & Gas Midstream companies. BW LPG Limited is the larger, with a market value of $3.3B against $2.8B — 1.2× the size. Teekay Tankers Ltd. trades at the lower P/E: 5.0× against 7.4×. Teekay Tankers Ltd. grew revenue faster over the last twelve months: 15.6% against −0.78%. Teekay Tankers Ltd. has the higher net margin (51.4% vs 12.6%) and the higher return on invested capital (29.3% vs 13.9%). Both pay a dividend; BW LPG Limited yields more (11.7% vs 1.17%). Across the 21 metrics below, Teekay Tankers Ltd. leads on 18 and BW LPG Limited on 3.

Valuation

Metric BWLP TNK Oil & Gas Midstream median
P/E 7.43 5.01 11.80
P/S 0.94 2.58 2.38
P/B 1.62 1.25 1.65
Price to free cash flow 4.83 4.56 7.76
EV/EBITDA 4.67 2.82 7.88
EV/Sales 1.09 1.55 3.36
Earnings yield 13.46% 19.95% 7.98%
Free cash flow yield 20.72% 21.91% 7.23%

Profitability

Metric BWLP TNK Oil & Gas Midstream median
Gross margin 25.94% 50.33% 55.22%
Operating margin 16.17% 47.65% 35.83%
Net margin 12.64% 51.35% 20.12%
Free cash flow margin 19.52% 56.49% 14.43%
Return on equity 22.47% 28.04% 14.03%
Return on assets 13.16% 25.45% 4.62%
Return on invested capital 13.88% 29.30% 6.10%

Growth

Metric BWLP TNK Oil & Gas Midstream median
Revenue growth (TTM) (0.78%) 15.60% 15.70%
EPS growth (last fiscal year) (39.39%) (13.16%) (7.78%)
Revenue growth, 5-year CAGR — 1.43% 10.05%
Net income growth, 5-year CAGR — 32.10% 0.00%

Health

Metric BWLP TNK Oil & Gas Midstream median
Debt to equity 0.42 0.00 0.77
Current ratio 1.44 9.99 1.16
Net debt to EBITDA 1.07 (2.16) 3.46

Dividend

Metric BWLP TNK Oil & Gas Midstream median
Dividend yield 11.72% 1.17% 5.03%
Payout ratio 0.87 0.06 0.73

Size

Metric BWLP TNK Oil & Gas Midstream median
Market cap 3.28b 2.84b 3.30b

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