Cross Timbers Royalty Trust (CRT) vs VOC Energy Trust (VOC)

Cross Timbers Royalty Trust and VOC Energy Trust are both Oil & Gas E&P companies. Cross Timbers Royalty Trust is the larger, with a market value of $77.2M against $57.6M — 1.3× the size. VOC Energy Trust trades at the lower P/E: 8.3× against 24.2×. Cross Timbers Royalty Trust grew revenue faster over the last twelve months: −22.4% against −31.8%. VOC Energy Trust has the higher net margin (91.5% vs 25.3%) and the lower return on invested capital (0.00% vs 877.3%). Both pay a dividend; VOC Energy Trust yields more (17.0% vs 5.06%). Across the 19 metrics below, VOC Energy Trust leads on 11 and Cross Timbers Royalty Trust on 8.

Valuation

Metric CRT VOC Oil & Gas E&P median
P/E 24.15 8.27 11.01
P/S 6.11 7.66 1.98
P/B 36.71 6.35 1.30
Price to free cash flow n/m n/m 10.68
EV/EBITDA 16.11 7.05 5.09
EV/Sales 5.97 6.45 2.63
Earnings yield 4.14% 12.09% 5.78%
Free cash flow yield 0.00% 0.00% 4.91%

Profitability

Metric CRT VOC Oil & Gas E&P median
Gross margin 38.72% 100.00% 80.41%
Operating margin 37.08% 91.52% 21.39%
Net margin 25.30% 91.52% 14.17%
Free cash flow margin 0.00% 0.00% 8.18%
Return on equity 145.08% 68.29% 10.05%
Return on assets 84.63% 68.29% 5.81%
Return on invested capital 877.28% 0.00% 6.32%

Growth

Metric CRT VOC Oil & Gas E&P median
Revenue growth (TTM) (22.38%) (31.76%) 9.94%
EPS growth (last fiscal year) (21.05%) (39.73%) (10.50%)
Revenue growth, 5-year CAGR 5.24% 11.48% 18.67%
Net income growth, 5-year CAGR (0.80%) 14.09% 0.00%

Health

Metric CRT VOC Oil & Gas E&P median
Debt to equity 0.00 0.00 0.28
Current ratio 1.00 0.00 0.96
Net debt to EBITDA (0.35) (1.41) 0.89

Dividend

Metric CRT VOC Oil & Gas E&P median
Dividend yield 5.06% 16.96% 3.29%
Payout ratio 1.22 1.40 0.35

Size

Metric CRT VOC Oil & Gas E&P median
Market cap 77.16m 57.63m 1.04b

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