DHT Holdings, Inc. (DHT) vs Teekay Tankers Ltd. (TNK)

DHT Holdings, Inc. and Teekay Tankers Ltd. are both Oil & Gas Midstream companies. DHT Holdings, Inc. and Teekay Tankers Ltd. are of similar size ($3.5B and $3.3B). Teekay Tankers Ltd. trades at the lower P/E: 5.5× against 7.4×. DHT Holdings, Inc. grew revenue faster over the last twelve months: 38.9% against 15.6%. DHT Holdings, Inc. has the higher net margin (65.5% vs 51.4%) and the lower return on invested capital (19.0% vs 29.3%). Both pay a dividend; DHT Holdings, Inc. yields more (15.0% vs 3.70%). Across the 23 metrics below, Teekay Tankers Ltd. leads on 15 and DHT Holdings, Inc. on 8.

Valuation

Metric DHT TNK Oil & Gas Midstream median
P/E 7.41 5.52 13.19
P/S 4.85 2.84 2.60
P/B 2.64 1.38 2.08
Price to free cash flow 18.78 5.03 10.14
EV/EBITDA 6.35 3.35 8.11
EV/Sales 5.23 1.85 3.89
Earnings yield 13.50% 18.11% 6.83%
Free cash flow yield 5.33% 19.90% 6.94%

Profitability

Metric DHT TNK Oil & Gas Midstream median
Gross margin 74.23% 50.33% 58.81%
Operating margin 67.31% 47.65% 32.14%
Net margin 65.52% 51.35% 21.16%
Free cash flow margin 25.84% 56.49% 10.15%
Return on equity 39.17% 28.04% 11.30%
Return on assets 29.26% 25.45% 5.00%
Return on invested capital 18.99% 29.30% 6.13%

Growth

Metric DHT TNK Oil & Gas Midstream median
Revenue growth (TTM) 38.93% 15.60% 15.44%
EPS growth (last fiscal year) 16.96% (13.16%) —
Revenue growth, 5-year CAGR (6.33%) 1.43% 8.96%
Net income growth, 5-year CAGR (4.54%) 32.10% 0.00%

Health

Metric DHT TNK Oil & Gas Midstream median
Debt to equity 0.33 0.00 0.78
Current ratio 3.64 9.99 1.19
Net debt to EBITDA 1.05 (2.16) 3.42

Dividend

Metric DHT TNK Oil & Gas Midstream median
Dividend yield 14.99% 3.70% 7.29%
Payout ratio 0.69 0.02 0.64

Size

Metric DHT TNK Oil & Gas Midstream median
Market cap 3.47b 3.26b 3.61b

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