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 $74.4M against $50.0M — 1.5× the size. VOC Energy Trust trades at the lower P/E: 7.2× against 23.8×. 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 (22.2% vs 6.76%). Across the 19 metrics below, VOC Energy Trust leads on 12 and Cross Timbers Royalty Trust on 7.

Valuation

Metric CRT VOC Oil & Gas E&P median
P/E 23.75 7.20 9.67
P/S 6.01 6.67 1.76
P/B 36.11 5.53 1.19
Price to free cash flow n/m n/m 8.37
EV/EBITDA 15.84 5.97 4.59
EV/Sales 5.87 5.46 2.27
Earnings yield 4.21% 13.90% 7.55%
Free cash flow yield 0.00% 0.00% 3.98%

Profitability

Metric CRT VOC Oil & Gas E&P median
Gross margin 38.72% 100.00% 79.54%
Operating margin 37.08% 91.52% 24.01%
Net margin 25.30% 91.52% 14.11%
Free cash flow margin 0.00% 0.00% 7.72%
Return on equity 145.08% 68.29% 8.99%
Return on assets 84.63% 68.29% 4.63%
Return on invested capital 877.28% 0.00% 6.33%

Growth

Metric CRT VOC Oil & Gas E&P median
Revenue growth (TTM) (22.38%) (31.76%) 13.60%
EPS growth (last fiscal year) (21.05%) (39.73%) (10.17%)
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 0.29
Current ratio 1.00 0.00 0.92
Net debt to EBITDA (0.35) (1.41) 0.93

Dividend

Metric CRT VOC Oil & Gas E&P median
Dividend yield 6.76% 22.20% 3.76%
Payout ratio 1.60 1.60 0.33

Size

Metric CRT VOC Oil & Gas E&P median
Market cap 74.40m 49.98m 953.29m

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