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 $3.7B against $3.3B — 1.1× the size. Teekay Tankers Ltd. trades at the lower P/E: 5.5× against 8.2×. 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%). Across the 20 metrics below, Teekay Tankers Ltd. leads on 18 and BW LPG Limited on 2.

Valuation

Metric BWLP TNK Oil & Gas Midstream median
P/E 8.21 5.52 13.19
P/S 1.04 2.84 2.60
P/B 1.79 1.38 2.08
Price to free cash flow 5.33 5.03 10.14
EV/EBITDA 5.09 3.35 8.11
EV/Sales 1.19 1.85 3.89
Earnings yield 12.18% 18.11% 6.83%
Free cash flow yield 18.76% 19.90% 6.94%

Profitability

Metric BWLP TNK Oil & Gas Midstream median
Gross margin 25.94% 50.33% 58.81%
Operating margin 16.17% 47.65% 32.14%
Net margin 12.64% 51.35% 21.16%
Free cash flow margin 19.52% 56.49% 10.15%
Return on equity 22.47% 28.04% 11.30%
Return on assets 13.16% 25.45% 5.00%
Return on invested capital 13.88% 29.30% 6.13%

Growth

Metric BWLP TNK Oil & Gas Midstream median
Revenue growth (TTM) (0.78%) 15.60% 15.44%
EPS growth (last fiscal year) (39.39%) (13.16%) —
Revenue growth, 5-year CAGR — 1.43% 8.96%
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 0.78
Current ratio 1.44 9.99 1.19
Net debt to EBITDA 1.07 (2.16) 3.42

Dividend

Metric BWLP TNK Oil & Gas Midstream median
Dividend yield — 3.70% 7.29%
Payout ratio — 0.02 0.64

Size

Metric BWLP TNK Oil & Gas Midstream median
Market cap 3.67b 3.26b 3.61b

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