Dynagas LNG Partners LP (DLNG) vs WhiteHawk Minerals Corp. (WHK)

Dynagas LNG Partners LP and WhiteHawk Minerals Corp. are both Oil & Gas Midstream companies. WhiteHawk Minerals Corp. is the larger, with a market value of $730.7M against $110.6M — 6.6× the size. WhiteHawk Minerals Corp. has negative trailing earnings, so its P/E is not meaningful; Dynagas LNG Partners LP trades at 1.8×. Dynagas LNG Partners LP has the higher net margin (34.5% vs −81.9%) and the lower return on invested capital (0.00% vs 0.04%). Across the 15 metrics below, Dynagas LNG Partners LP leads on 11 and WhiteHawk Minerals Corp. on 4.

Valuation

Metric DLNG WHK Oil & Gas Midstream median
P/E 1.83 n/m 11.68
P/S 0.70 5.92 2.39
P/B 0.26 1.11 1.68
Price to free cash flow 1.16 n/m 8.52
EV/EBITDA 3.37 15.79 9.03
EV/Sales 2.29 6.79 3.43
Earnings yield 54.77% (21.24%) 7.78%
Free cash flow yield 85.91% (35.89%) 7.11%

Profitability

Metric DLNG WHK Oil & Gas Midstream median
Gross margin 72.43% 100.00% 54.87%
Operating margin 46.55% 0.38% 34.73%
Net margin 34.46% (81.94%) 20.12%
Free cash flow margin 0.00% (212.45%) 14.43%
Return on equity 0.00% 0.00% 11.73%
Return on assets 0.00% 0.00% 4.43%
Return on invested capital 0.00% 0.04% 6.10%

Growth

Metric DLNG WHK Oil & Gas Midstream median
Revenue growth (TTM) 0.00% — 14.88%
EPS growth (last fiscal year) 31.43% 66.36% (7.78%)
Revenue growth, 5-year CAGR 2.69% — 10.05%
Net income growth, 5-year CAGR 17.54% — 0.00%

Health

Metric DLNG WHK Oil & Gas Midstream median
Debt to equity 0.09 0.18 0.77
Current ratio 0.88 1.39 1.19
Net debt to EBITDA 0.02 4.91 3.46

Dividend

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

Size

Metric DLNG WHK Oil & Gas Midstream median
Market cap 110.60m 730.66m 3.56b

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