Dynagas LNG Partners LP (DLNG) vs KNOT Offshore Partners LP (KNOP)

Dynagas LNG Partners LP and KNOT Offshore Partners LP are both Oil & Gas Midstream companies. KNOT Offshore Partners LP is the larger, with a market value of $292.7M against $110.6M — 2.6× the size. Dynagas LNG Partners LP trades at the lower P/E: 1.8× against 21.2×. KNOT Offshore Partners LP grew revenue faster over the last twelve months: 12.9% against 0.00%. Dynagas LNG Partners LP has the higher net margin (34.5% vs 3.46%) and the lower return on invested capital (0.00% vs 3.03%). Both pay a dividend; Dynagas LNG Partners LP yields more (6.58% vs 2.96%). Across the 23 metrics below, Dynagas LNG Partners LP leads on 16 and KNOT Offshore Partners LP on 7.

Valuation

Metric DLNG KNOP Oil & Gas Midstream median
P/E 1.83 21.21 11.68
P/S 0.70 0.77 2.39
P/B 0.26 0.55 1.68
Price to free cash flow 1.16 1.91 8.52
EV/EBITDA 3.37 5.30 9.03
EV/Sales 2.29 2.88 3.43
Earnings yield 54.77% 4.71% 7.78%
Free cash flow yield 85.91% 52.42% 7.11%

Profitability

Metric DLNG KNOP Oil & Gas Midstream median
Gross margin 72.43% 63.67% 54.87%
Operating margin 46.55% 18.13% 34.73%
Net margin 34.46% 3.46% 20.12%
Free cash flow margin 0.00% 40.24% 14.43%
Return on equity 0.00% 2.46% 11.73%
Return on assets 0.00% 0.81% 4.43%
Return on invested capital 0.00% 3.03% 6.10%

Growth

Metric DLNG KNOP Oil & Gas Midstream median
Revenue growth (TTM) 0.00% 12.85% 14.88%
EPS growth (last fiscal year) 31.43% 128.57% (7.78%)
Revenue growth, 5-year CAGR 2.69% 5.47% 10.05%
Net income growth, 5-year CAGR 17.54% (22.27%) 0.00%

Health

Metric DLNG KNOP Oil & Gas Midstream median
Debt to equity 0.09 1.45 0.77
Current ratio 0.88 0.34 1.19
Net debt to EBITDA 0.02 4.37 3.46

Dividend

Metric DLNG KNOP Oil & Gas Midstream median
Dividend yield 6.58% 2.96% 4.94%
Payout ratio 0.12 0.63 0.73

Size

Metric DLNG KNOP Oil & Gas Midstream median
Market cap 110.60m 292.66m 3.56b

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