CrossAmerica Partners LP (CAPL) vs World Kinect Corporation (WKC)

CrossAmerica Partners LP and World Kinect Corporation are both Oil & Gas Refining & Marketing companies. World Kinect Corporation is the larger, with a market value of $1.9B against $752.4M — 2.5× the size. World Kinect Corporation has negative trailing earnings, so its P/E is not meaningful; CrossAmerica Partners LP trades at 15.9×. World Kinect Corporation grew revenue faster over the last twelve months: 21.1% against 9.12%. CrossAmerica Partners LP has the higher net margin (1.17% vs −0.37%) and the higher return on invested capital (11.5% vs −1.54%). Both pay a dividend; CrossAmerica Partners LP yields more (10.6% vs 2.34%). Across the 21 metrics below, CrossAmerica Partners LP leads on 14 and World Kinect Corporation on 7.

Valuation

Metric CAPL WKC Oil & Gas Refining & Marketing median
P/E 15.86 n/m 8.38
P/S 0.19 0.04 0.33
P/B n/m 1.46 1.70
Price to free cash flow 6.01 22.93 5.86
EV/EBITDA 8.11 8.16 4.96
EV/Sales 0.36 0.05 0.46
Earnings yield 6.31% (7.96%) 9.67%
Free cash flow yield 16.64% 4.36% 15.55%

Profitability

Metric CAPL WKC Oil & Gas Refining & Marketing median
Gross margin 10.26% 2.54% 10.93%
Operating margin 2.67% (0.10%) 7.14%
Net margin 1.17% (0.37%) 2.70%
Free cash flow margin 3.08% 0.18% 6.17%
Return on equity (45.97%) (11.46%) 21.95%
Return on assets 4.83% (2.55%) 5.76%
Return on invested capital 11.54% (1.54%) 13.74%

Growth

Metric CAPL WKC Oil & Gas Refining & Marketing median
Revenue growth (TTM) 9.12% 21.06% 26.02%
EPS growth (last fiscal year) 96.15% (1,072.57%) 37.92%
Revenue growth, 5-year CAGR 13.64% 12.64% 13.17%
Net income growth, 5-year CAGR (18.28%) 0.00% 0.00%

Health

Metric CAPL WKC Oil & Gas Refining & Marketing median
Debt to equity (6.16) 0.54 0.41
Current ratio 0.78 1.04 1.31
Net debt to EBITDA 3.63 1.81 2.07

Dividend

Metric CAPL WKC Oil & Gas Refining & Marketing median
Dividend yield 10.60% 2.34% 2.20%
Payout ratio 1.69 — 0.25

Size

Metric CAPL WKC Oil & Gas Refining & Marketing median
Market cap 752.39m 1.87b 3.91b

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