Centuri Holdings, Inc. (CTRI) vs Suburban Propane Partners, L.P. (SPH)

Centuri Holdings, Inc. and Suburban Propane Partners, L.P. are both Utilities Regulated Gas companies. Centuri Holdings, Inc. is the larger, with a market value of $2.1B against $1.1B — 1.9× the size. Suburban Propane Partners, L.P. trades at the lower P/E: 8.4× against 66.5×. Centuri Holdings, Inc. grew revenue faster over the last twelve months: 25.2% against −2.48%. Suburban Propane Partners, L.P. has the higher net margin (9.37% vs 0.85%) and the higher return on invested capital (6.83% vs 3.73%). Across the 20 metrics below, Suburban Propane Partners, L.P. leads on 13 and Centuri Holdings, Inc. on 7.

Valuation

Metric CTRI SPH Utilities Regulated Gas median
P/E 66.55 8.43 15.65
P/S 0.61 0.79 2.04
P/B 2.40 1.55 1.50
Price to free cash flow 72.19 10.58 —
EV/EBITDA 10.46 8.32 11.49
EV/Sales 0.82 1.67 3.54
Earnings yield 1.50% 11.87% 6.39%
Free cash flow yield 1.39% 9.46% (5.71%)

Profitability

Metric CTRI SPH Utilities Regulated Gas median
Gross margin 7.76% 63.14% 63.14%
Operating margin 2.73% 15.13% 21.47%
Net margin 0.85% 9.37% 13.00%
Free cash flow margin 0.85% 7.51% (13.27%)
Return on equity 4.02% 19.23% 9.47%
Return on assets 1.28% 5.59% 3.80%
Return on invested capital 3.73% 6.83% 4.29%

Growth

Metric CTRI SPH Utilities Regulated Gas median
Revenue growth (TTM) 25.17% (2.48%) 6.36%
EPS growth (last fiscal year) 412.50% 42.11% —
Revenue growth, 5-year CAGR — 5.27% 6.36%
Net income growth, 5-year CAGR — 11.89% 8.10%

Health

Metric CTRI SPH Utilities Regulated Gas median
Debt to equity 0.83 1.72 1.22
Current ratio 1.82 0.78 0.78
Net debt to EBITDA 2.41 4.35 4.68

Dividend

Metric CTRI SPH Utilities Regulated Gas median
Dividend yield — 6.55% 4.31%
Payout ratio — — 0.62

Size

Metric CTRI SPH Utilities Regulated Gas median
Market cap 2.06b 1.10b 4.52b

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