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 $337.6M against $124.4M — 2.7× the size. Dynagas LNG Partners LP trades at the lower P/E: 2.0× against 22.5×. 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 2.04%) and the lower return on invested capital (0.00% vs 3.03%). Both pay a dividend; Dynagas LNG Partners LP yields more (6.06% vs 2.80%). 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 1.98 22.50 12.77
P/S 0.76 0.90 2.36
P/B 0.28 0.64 2.09
Price to free cash flow 1.26 2.22 9.71
EV/EBITDA 3.46 5.53 8.30
EV/Sales 2.35 3.01 3.88
Earnings yield 50.45% 4.44% 7.15%
Free cash flow yield 79.14% 44.95% 6.86%

Profitability

Metric DLNG KNOP Oil & Gas Midstream median
Gross margin 72.43% 63.67% 56.58%
Operating margin 46.55% 18.13% 34.18%
Net margin 34.46% 2.04% 22.50%
Free cash flow margin 0.00% 40.24% 13.70%
Return on equity 0.00% 1.46% 14.65%
Return on assets 0.00% 0.48% 5.00%
Return on invested capital 0.00% 3.03% 6.13%

Growth

Metric DLNG KNOP Oil & Gas Midstream median
Revenue growth (TTM) 0.00% 12.85% 15.60%
EPS growth (last fiscal year) 31.43% 68.29% (7.86%)
Revenue growth, 5-year CAGR 2.69% 5.47% 9.59%
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 0.78
Current ratio 0.88 0.34 1.19
Net debt to EBITDA 0.02 4.37 3.42

Dividend

Metric DLNG KNOP Oil & Gas Midstream median
Dividend yield 6.06% 2.80% 4.54%
Payout ratio 0.12 0.63 0.76

Size

Metric DLNG KNOP Oil & Gas Midstream median
Market cap 124.42m 337.59m 3.73b

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