Dynagas LNG Partners LP (DLNG) vs Summit Midstream Partners, LP (SMC)

Dynagas LNG Partners LP and Summit Midstream Partners, LP are both Oil & Gas Midstream companies. Summit Midstream Partners, LP is the larger, with a market value of $544.1M against $110.6M — 4.9× the size. Summit Midstream Partners, LP has negative trailing earnings, so its P/E is not meaningful; Dynagas LNG Partners LP trades at 1.8×. Summit Midstream Partners, LP grew revenue faster over the last twelve months: 20.9% against 0.00%. Dynagas LNG Partners LP has the higher net margin (34.5% vs −2.29%) and the lower return on invested capital (0.00% vs 2.59%). Across the 21 metrics below, Dynagas LNG Partners LP leads on 14 and Summit Midstream Partners, LP on 7.

Valuation

Metric DLNG SMC Oil & Gas Midstream median
P/E 1.83 n/m 11.68
P/S 0.70 0.63 2.39
P/B 0.26 0.43 1.68
Price to free cash flow 1.16 8.26 8.52
EV/EBITDA 3.37 7.74 9.03
EV/Sales 2.29 2.71 3.43
Earnings yield 54.77% (4.10%) 7.78%
Free cash flow yield 85.91% 12.11% 7.11%

Profitability

Metric DLNG SMC Oil & Gas Midstream median
Gross margin 72.43% 45.03% 54.87%
Operating margin 46.55% 15.10% 34.73%
Net margin 34.46% (2.29%) 20.12%
Free cash flow margin 0.00% 7.69% 14.43%
Return on equity 0.00% (1.57%) 11.73%
Return on assets 0.00% (0.55%) 4.43%
Return on invested capital 0.00% 2.59% 6.10%

Growth

Metric DLNG SMC Oil & Gas Midstream median
Revenue growth (TTM) 0.00% 20.94% 14.88%
EPS growth (last fiscal year) 31.43% 87.40% (7.78%)
Revenue growth, 5-year CAGR 2.69% 7.95% 10.05%
Net income growth, 5-year CAGR 17.54% 0.00% 0.00%

Health

Metric DLNG SMC Oil & Gas Midstream median
Debt to equity 0.09 1.35 0.77
Current ratio 0.88 0.94 1.19
Net debt to EBITDA 0.02 5.27 3.46

Dividend

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

Size

Metric DLNG SMC Oil & Gas Midstream median
Market cap 110.60m 544.05m 3.56b

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