DHT Holdings, Inc. (DHT) vs TORM PLC (TRMD)

DHT Holdings, Inc. and TORM PLC are both Oil & Gas Midstream companies. DHT Holdings, Inc. and TORM PLC are of similar size ($3.5B and $3.5B). TORM PLC 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 33.2%. DHT Holdings, Inc. has the higher net margin (65.5% vs 35.5%) and the higher return on invested capital (19.0% vs 13.2%). Both pay a dividend; TORM PLC yields more (17.7% vs 15.0%). Across the 23 metrics below, TORM PLC leads on 12 and DHT Holdings, Inc. on 11.

Valuation

Metric DHT TRMD Oil & Gas Midstream median
P/E 7.41 5.54 13.19
P/S 4.85 1.99 2.60
P/B 2.64 1.38 2.08
Price to free cash flow 18.78 12.75 10.14
EV/EBITDA 6.35 4.60 8.11
EV/Sales 5.23 2.40 3.89
Earnings yield 13.50% 18.04% 6.83%
Free cash flow yield 5.33% 7.84% 6.94%

Profitability

Metric DHT TRMD Oil & Gas Midstream median
Gross margin 74.23% 85.12% 58.81%
Operating margin 67.31% 39.07% 32.14%
Net margin 65.52% 35.48% 21.16%
Free cash flow margin 25.84% 15.63% 10.15%
Return on equity 39.17% 26.82% 11.30%
Return on assets 29.26% 17.30% 5.00%
Return on invested capital 18.99% 13.19% 6.13%

Growth

Metric DHT TRMD Oil & Gas Midstream median
Revenue growth (TTM) 38.93% 33.16% 15.44%
EPS growth (last fiscal year) 16.96% (55.19%) —
Revenue growth, 5-year CAGR (6.33%) 12.38% 8.96%
Net income growth, 5-year CAGR (4.54%) 26.49% 0.00%

Health

Metric DHT TRMD Oil & Gas Midstream median
Debt to equity 0.33 0.42 0.78
Current ratio 3.64 2.27 1.19
Net debt to EBITDA 1.05 1.52 3.42

Dividend

Metric DHT TRMD Oil & Gas Midstream median
Dividend yield 14.99% 17.65% 7.29%
Payout ratio 0.69 0.65 0.64

Size

Metric DHT TRMD Oil & Gas Midstream median
Market cap 3.47b 3.54b 3.61b

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