Cosan S.A. Sponsored ADR (CSANY) vs Delek Logistics Partners, L.P. (DKL)

Cosan S.A. Sponsored ADR and Delek Logistics Partners, L.P. are both Oil & Gas Refining & Marketing companies. Delek Logistics Partners, L.P. is the larger, with a market value of $3.2B against $2.7B — 1.2× the size. Cosan S.A. Sponsored ADR has negative trailing earnings, so its P/E is not meaningful; Delek Logistics Partners, L.P. trades at 18.8×. Delek Logistics Partners, L.P. grew revenue faster over the last twelve months: 30.3% against −6.49%. Delek Logistics Partners, L.P. has the higher net margin (12.9% vs −23.8%) and the lower return on invested capital (4.97% vs 8.58%). Both pay a dividend; Delek Logistics Partners, L.P. yields more (9.38% vs 4.02%). Across the 21 metrics below, Cosan S.A. Sponsored ADR leads on 14 and Delek Logistics Partners, L.P. on 7.

Valuation

Metric CSANY DKL Oil & Gas Refining & Marketing median
P/E n/m 18.78 15.04
P/S 0.38 2.39 0.41
P/B 0.50 n/m 1.87
Price to free cash flow 2.95 24.28 8.78
EV/EBITDA 4.25 16.10 7.94
EV/Sales 1.53 4.40 0.59
Earnings yield (85.37%) 5.33% 6.15%
Free cash flow yield 33.94% 4.12% 10.47%

Profitability

Metric CSANY DKL Oil & Gas Refining & Marketing median
Gross margin 33.59% 17.58% 12.22%
Operating margin 26.27% 15.32% 5.35%
Net margin (23.78%) 12.85% 2.08%
Free cash flow margin 13.06% 9.84% 4.25%
Return on equity (30.16%) (826.14%) 11.39%
Return on assets (7.57%) 5.48% 5.22%
Return on invested capital 8.58% 4.97% 11.54%

Growth

Metric CSANY DKL Oil & Gas Refining & Marketing median
Revenue growth (TTM) (6.49%) 30.33% 13.37%
EPS growth (last fiscal year) 24.95% 10.37% —
Revenue growth, 5-year CAGR 12.79% 12.46% 12.77%
Net income growth, 5-year CAGR 0.00% 4.66% 0.00%

Health

Metric CSANY DKL Oil & Gas Refining & Marketing median
Debt to equity 2.25 (34.54) 0.44
Current ratio 1.87 0.96 1.32
Net debt to EBITDA 2.88 7.63 2.07

Dividend

Metric CSANY DKL Oil & Gas Refining & Marketing median
Dividend yield 4.02% 9.38% 3.64%
Payout ratio 0.90 — 0.14

Size

Metric CSANY DKL Oil & Gas Refining & Marketing median
Market cap 2.71b 3.15b 4.12b

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