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 $57.3B against $27.7B — 2.1× the size. Cheniere Energy Partners, L.P. trades at the lower P/E: 9.3× against 13.2×. Cheniere Energy Partners, L.P. grew revenue faster over the last twelve months: 13.2% against 3.11%. MPLX LP has the higher net margin (32.9% vs 23.9%) and the lower return on invested capital (8.76% vs 17.0%). Both pay a dividend; MPLX LP yields more (9.74% vs 4.04%). Across the 23 metrics below, Cheniere Energy Partners, L.P. leads on 14 and MPLX LP on 9.

Valuation

Metric CQP MPLX Oil & Gas Midstream median
P/E 9.25 13.21 11.68
P/S 2.39 4.35 2.39
P/B 31.71 4.02 1.68
Price to free cash flow 9.65 14.01 8.52
EV/EBITDA 8.86 11.76 9.03
EV/Sales 3.57 6.26 3.43
Earnings yield 10.81% 7.57% 7.78%
Free cash flow yield 10.36% 7.14% 7.11%

Profitability

Metric CQP MPLX Oil & Gas Midstream median
Gross margin 41.11% 57.55% 54.87%
Operating margin 34.16% 42.03% 34.73%
Net margin 23.91% 32.91% 20.12%
Free cash flow margin 24.75% 31.04% 14.43%
Return on equity 1,050.85% 30.16% 11.73%
Return on assets 16.09% 9.94% 4.43%
Return on invested capital 16.98% 8.76% 6.10%

Growth

Metric CQP MPLX Oil & Gas Midstream median
Revenue growth (TTM) 13.18% 3.11% 14.88%
EPS growth (last fiscal year) 21.65% 14.49% (7.78%)
Revenue growth, 5-year CAGR 11.77% 11.42% 10.05%
Net income growth, 5-year CAGR 22.04% 0.00% 0.00%

Health

Metric CQP MPLX Oil & Gas Midstream median
Debt to equity 16.38 1.86 0.77
Current ratio 1.19 1.56 1.19
Net debt to EBITDA 3.23 3.21 3.46

Dividend

Metric CQP MPLX Oil & Gas Midstream median
Dividend yield 4.04% 9.74% 4.94%
Payout ratio 0.37 1.29 0.73

Size

Metric CQP MPLX Oil & Gas Midstream median
Market cap 27.70b 57.29b 3.56b

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