Cheniere Energy Partners, L.P. (CQP) vs MPLX LP (MPLX)

Cheniere Energy Partners, L.P. and MPLX LP are both Oil & Gas Midstream companies. MPLX LP is the larger, with a market value of $58.8B against $30.8B — 1.9× the size. Cheniere Energy Partners, L.P. trades at the lower P/E: 11.1× against 12.2×. Cheniere Energy Partners, L.P. grew revenue faster over the last twelve months: 15.4% against 8.71%. MPLX LP has the higher net margin (35.8% vs 23.1%) and the lower return on invested capital (9.45% vs 16.4%). Both pay a dividend; MPLX LP yields more (9.32% vs 8.27%). Across the 23 metrics below, Cheniere Energy Partners, L.P. leads on 15 and MPLX LP on 8.

Valuation

Metric CQP MPLX Oil & Gas Midstream median
P/E 11.12 12.22 13.19
P/S 2.67 4.36 2.60
P/B 40.72 4.05 2.08
Price to free cash flow 11.02 13.36 10.14
EV/EBITDA 9.75 11.22 8.11
EV/Sales 3.89 6.22 3.89
Earnings yield 8.99% 8.19% 6.83%
Free cash flow yield 9.07% 7.48% 6.94%

Profitability

Metric CQP MPLX Oil & Gas Midstream median
Gross margin 40.64% 59.69% 58.81%
Operating margin 33.63% 44.44% 32.14%
Net margin 23.11% 35.75% 21.16%
Free cash flow margin 24.23% 32.63% 10.15%
Return on equity 1,283.57% 33.41% 11.30%
Return on assets 15.35% 11.70% 5.00%
Return on invested capital 16.40% 9.45% 6.13%

Growth

Metric CQP MPLX Oil & Gas Midstream median
Revenue growth (TTM) 15.44% 8.71% 15.44%
EPS growth (last fiscal year) 21.65% 14.49% —
Revenue growth, 5-year CAGR 11.77% 11.42% 8.96%
Net income growth, 5-year CAGR 22.04% 0.00% 0.00%

Health

Metric CQP MPLX Oil & Gas Midstream median
Debt to equity 19.16 1.80 0.78
Current ratio 1.22 0.89 1.19
Net debt to EBITDA 3.23 3.21 3.42

Dividend

Metric CQP MPLX Oil & Gas Midstream median
Dividend yield 8.27% 9.32% 7.29%
Payout ratio — — 0.64

Size

Metric CQP MPLX Oil & Gas Midstream median
Market cap 30.81b 58.78b 3.61b

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