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 $73.5M against $57.5M — 1.3× the size. VOC Energy Trust trades at the lower P/E: 8.3× against 23.6×. 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 (13.0% vs 10.1%). 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 23.58 8.32 10.57
P/S 5.97 7.71 1.80
P/B 35.85 6.39 1.27
Price to free cash flow n/m n/m 9.99
EV/EBITDA 15.72 7.10 5.08
EV/Sales 5.83 6.50 2.39
Earnings yield 4.24% 12.02% 6.06%
Free cash flow yield 0.00% 0.00% 6.17%

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% 9.71%
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%) —
Revenue growth, 5-year CAGR 4.85% 11.48% 18.67%
Net income growth, 5-year CAGR (7.62%) 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) 0.91

Dividend

Metric CRT VOC Oil & Gas E&P median
Dividend yield 10.07% 12.95% 4.93%
Payout ratio 1.00 1.00 0.07

Size

Metric CRT VOC Oil & Gas E&P median
Market cap 73.50m 57.46m 923.59m

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