Dynagas LNG Partners LP (DLNG) vs Martin Midstream Partners L.P. (MMLP)

Dynagas LNG Partners LP and Martin Midstream Partners L.P. are both Oil & Gas Midstream companies. Dynagas LNG Partners LP is the larger, with a market value of $110.6M against $77.1M — 1.4× the size. Martin Midstream Partners L.P. has negative trailing earnings, so its P/E is not meaningful; Dynagas LNG Partners LP trades at 1.8×. Martin Midstream Partners L.P. grew revenue faster over the last twelve months: 13.2% against 0.00%. Dynagas LNG Partners LP has the higher net margin (34.5% vs −1.35%) and the lower return on invested capital (0.00% vs 8.21%). Both pay a dividend; Dynagas LNG Partners LP yields more (6.58% vs 1.26%). Across the 20 metrics below, Dynagas LNG Partners LP leads on 13 and Martin Midstream Partners L.P. on 7.

Valuation

Metric DLNG MMLP Oil & Gas Midstream median
P/E 1.83 n/m 11.68
P/S 0.70 0.10 2.39
P/B 0.26 n/m 1.68
Price to free cash flow 1.16 n/m 8.52
EV/EBITDA 3.37 5.17 9.03
EV/Sales 2.29 0.69 3.43
Earnings yield 54.77% (13.89%) 7.78%
Free cash flow yield 85.91% (16.15%) 7.11%

Profitability

Metric DLNG MMLP Oil & Gas Midstream median
Gross margin 72.43% 50.59% 54.87%
Operating margin 46.55% 6.22% 34.73%
Net margin 34.46% (1.35%) 20.12%
Free cash flow margin 0.00% (1.55%) 14.43%
Return on equity 0.00% 13.65% 11.73%
Return on assets 0.00% (2.03%) 4.43%
Return on invested capital 0.00% 8.21% 6.10%

Growth

Metric DLNG MMLP Oil & Gas Midstream median
Revenue growth (TTM) 0.00% 13.17% 14.88%
EPS growth (last fiscal year) 31.43% (184.62%) (7.78%)
Revenue growth, 5-year CAGR 2.69% 1.28% 10.05%
Net income growth, 5-year CAGR 17.54% 0.00% 0.00%

Health

Metric DLNG MMLP Oil & Gas Midstream median
Debt to equity 0.09 (5.04) 0.77
Current ratio 0.88 1.35 1.19
Net debt to EBITDA 0.02 4.09 3.46

Dividend

Metric DLNG MMLP Oil & Gas Midstream median
Dividend yield 6.58% 1.26% 4.94%
Payout ratio 0.12 — 0.73

Size

Metric DLNG MMLP Oil & Gas Midstream median
Market cap 110.60m 77.08m 3.56b

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