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

Cheniere Energy Partners, L.P. and Viper Energy Inc. are both Oil & Gas Midstream companies. Cheniere Energy Partners, L.P. is the larger, with a market value of $30.1B against $15.7B — 1.9× the size. Cheniere Energy Partners, L.P. trades at the lower P/E: 11.1× against 322×. Viper Energy Inc. grew revenue faster over the last twelve months: 107.8% against 15.4%. Cheniere Energy Partners, L.P. has the higher net margin (23.1% vs 2.89%) and the higher return on invested capital (16.4% vs 1.32%). Both pay a dividend; Viper Energy Inc. yields more (5.44% vs 5.14%). Across the 23 metrics below, Cheniere Energy Partners, L.P. leads on 15 and Viper Energy Inc. on 8.

Valuation

Metric CQP VNOM Oil & Gas Midstream median
P/E 11.14 321.64 12.77
P/S 2.68 4.27 2.36
P/B 40.81 0.85 2.09
Price to free cash flow 11.04 11.42 9.71
EV/EBITDA 9.77 10.02 8.30
EV/Sales 3.89 5.24 3.88
Earnings yield 8.97% 0.31% 7.15%
Free cash flow yield 9.05% 8.76% 6.86%

Profitability

Metric CQP VNOM Oil & Gas Midstream median
Gross margin 40.64% 100.00% 56.58%
Operating margin 33.63% 12.30% 34.18%
Net margin 23.11% 2.89% 22.50%
Free cash flow margin 24.23% 37.43% 13.70%
Return on equity 1,283.57% 0.62% 14.65%
Return on assets 15.35% 0.54% 5.00%
Return on invested capital 16.40% 1.32% 6.13%

Growth

Metric CQP VNOM Oil & Gas Midstream median
Revenue growth (TTM) 15.44% 107.84% 15.60%
EPS growth (last fiscal year) 21.65% (112.57%) (7.86%)
Revenue growth, 5-year CAGR 11.77% 40.96% 9.59%
Net income growth, 5-year CAGR 22.04% 0.00% 0.00%

Health

Metric CQP VNOM Oil & Gas Midstream median
Debt to equity 19.16 0.16 0.78
Current ratio 1.22 6.37 1.19
Net debt to EBITDA 3.23 4.65 3.42

Dividend

Metric CQP VNOM Oil & Gas Midstream median
Dividend yield 5.14% 5.44% 4.54%
Payout ratio 0.57 18.85 0.76

Size

Metric CQP VNOM Oil & Gas Midstream median
Market cap 30.13b 15.71b 3.73b

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