Cheniere Energy Partners, L.P. (CQP) vs Cheniere Energy, Inc. (LNG)

Cheniere Energy Partners, L.P. and Cheniere Energy, Inc. are both Oil & Gas Midstream companies. Cheniere Energy, Inc. is the larger, with a market value of $57.7B against $30.1B — 1.9× the size. Cheniere Energy Partners, L.P. trades at the lower P/E: 11.1× against 21.4×. Cheniere Energy, Inc. grew revenue faster over the last twelve months: 17.5% against 15.4%. Cheniere Energy Partners, L.P. has the higher net margin (23.1% vs 13.5%) and the higher return on invested capital (16.4% vs 11.8%). Both pay a dividend; Cheniere Energy Partners, L.P. yields more (5.14% vs 0.77%). Across the 23 metrics below, Cheniere Energy Partners, L.P. leads on 16 and Cheniere Energy, Inc. on 7.

Valuation

Metric CQP LNG Oil & Gas Midstream median
P/E 11.14 21.44 12.77
P/S 2.68 2.81 2.36
P/B 40.81 5.26 2.09
Price to free cash flow 11.04 22.31 9.71
EV/EBITDA 9.77 10.50 8.30
EV/Sales 3.89 3.86 3.88
Earnings yield 8.97% 4.66% 7.15%
Free cash flow yield 9.05% 4.48% 6.86%

Profitability

Metric CQP LNG Oil & Gas Midstream median
Gross margin 40.64% 38.53% 56.58%
Operating margin 33.63% 29.89% 34.18%
Net margin 23.11% 13.50% 22.50%
Free cash flow margin 24.23% 12.61% 13.70%
Return on equity 1,283.57% 25.52% 14.65%
Return on assets 15.35% 6.27% 5.00%
Return on invested capital 16.40% 11.80% 6.13%

Growth

Metric CQP LNG Oil & Gas Midstream median
Revenue growth (TTM) 15.44% 17.54% 15.60%
EPS growth (last fiscal year) 21.65% 69.93% (7.86%)
Revenue growth, 5-year CAGR 11.77% 16.38% 9.59%
Net income growth, 5-year CAGR 22.04% 0.00% 0.00%

Health

Metric CQP LNG Oil & Gas Midstream median
Debt to equity 19.16 2.09 0.78
Current ratio 1.22 0.87 1.19
Net debt to EBITDA 3.23 2.03 3.42

Dividend

Metric CQP LNG Oil & Gas Midstream median
Dividend yield 5.14% 0.77% 4.54%
Payout ratio 0.57 0.17 0.76

Size

Metric CQP LNG Oil & Gas Midstream median
Market cap 30.13b 57.65b 3.73b

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