CrossAmerica Partners LP (CAPL) vs Cosan S.A. Sponsored ADR (CSANY)

CrossAmerica Partners LP and Cosan S.A. Sponsored ADR are both Oil & Gas Refining & Marketing companies. Cosan S.A. Sponsored ADR is the larger, with a market value of $2.7B against $824.9M — 3.3× the size. Cosan S.A. Sponsored ADR has negative trailing earnings, so its P/E is not meaningful; CrossAmerica Partners LP trades at 15.6×. CrossAmerica Partners LP grew revenue faster over the last twelve months: 0.29% against −6.49%. CrossAmerica Partners LP has the higher net margin (1.36% vs −23.8%) and the higher return on invested capital (11.5% vs 8.58%). Both pay a dividend; CrossAmerica Partners LP yields more (9.36% vs 4.02%). Across the 21 metrics below, CrossAmerica Partners LP leads on 11 and Cosan S.A. Sponsored ADR on 10.

Valuation

Metric CAPL CSANY Oil & Gas Refining & Marketing median
P/E 15.57 n/m 15.04
P/S 0.21 0.38 0.41
P/B n/m 0.50 1.87
Price to free cash flow 5.95 2.95 8.78
EV/EBITDA 8.15 4.25 7.94
EV/Sales 0.40 1.53 0.59
Earnings yield 6.42% (85.37%) 6.15%
Free cash flow yield 16.81% 33.94% 10.47%

Profitability

Metric CAPL CSANY Oil & Gas Refining & Marketing median
Gross margin 10.94% 33.59% 12.22%
Operating margin 2.93% 26.27% 5.35%
Net margin 1.36% (23.78%) 2.08%
Free cash flow margin 3.57% 13.06% 4.25%
Return on equity (54.75%) (30.16%) 11.39%
Return on assets 5.22% (7.57%) 5.22%
Return on invested capital 11.54% 8.58% 11.54%

Growth

Metric CAPL CSANY Oil & Gas Refining & Marketing median
Revenue growth (TTM) 0.29% (6.49%) 13.37%
EPS growth (last fiscal year) 96.15% 24.95% —
Revenue growth, 5-year CAGR 13.64% 12.79% 12.77%
Net income growth, 5-year CAGR (18.28%) 0.00% 0.00%

Health

Metric CAPL CSANY Oil & Gas Refining & Marketing median
Debt to equity (6.77) 2.25 0.44
Current ratio 0.76 1.87 1.32
Net debt to EBITDA 3.63 2.88 2.07

Dividend

Metric CAPL CSANY Oil & Gas Refining & Marketing median
Dividend yield 9.36% 4.02% 3.64%
Payout ratio — 0.90 0.14

Size

Metric CAPL CSANY Oil & Gas Refining & Marketing median
Market cap 824.92m 2.71b 4.12b

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