DT Midstream, Inc. (DTM) vs Frontline PLC (FRO)

DT Midstream, Inc. and Frontline PLC are both Oil & Gas Midstream companies. DT Midstream, Inc. and Frontline PLC are of similar size ($12.1B and $11.7B). Frontline PLC trades at the lower P/E: 7.9× against 26.9×. Frontline PLC grew revenue faster over the last twelve months: 63.5% against 18.1%. Frontline PLC has the higher net margin (49.4% vs 35.7%) and the higher return on invested capital (19.4% vs 5.03%). Both pay a dividend; Frontline PLC yields more (10.3% vs 2.80%). Across the 23 metrics below, Frontline PLC leads on 17 and DT Midstream, Inc. on 6.

Valuation

Metric DTM FRO Oil & Gas Midstream median
P/E 26.94 7.87 12.77
P/S 9.63 3.88 2.36
P/B 2.56 3.71 2.09
Price to free cash flow 26.28 6.91 9.71
EV/EBITDA 16.89 8.47 8.30
EV/Sales 12.06 4.58 3.88
Earnings yield 3.71% 12.71% 7.15%
Free cash flow yield 3.81% 14.47% 6.86%

Profitability

Metric DTM FRO Oil & Gas Midstream median
Gross margin 100.00% 66.67% 56.58%
Operating margin 49.62% 54.14% 34.18%
Net margin 35.73% 49.37% 22.50%
Free cash flow margin 36.64% 56.19% 13.70%
Return on equity 9.61% 53.85% 14.65%
Return on assets 4.64% 24.94% 5.00%
Return on invested capital 5.03% 19.35% 6.13%

Growth

Metric DTM FRO Oil & Gas Midstream median
Revenue growth (TTM) 18.12% 63.48% 15.60%
EPS growth (last fiscal year) 19.44% (23.77%) (7.86%)
Revenue growth, 5-year CAGR 10.51% 10.05% 9.59%
Net income growth, 5-year CAGR 7.17% (1.69%) 0.00%

Health

Metric DTM FRO Oil & Gas Midstream median
Debt to equity 0.68 0.77 0.78
Current ratio 1.37 1.87 1.19
Net debt to EBITDA 3.68 3.03 3.42

Dividend

Metric DTM FRO Oil & Gas Midstream median
Dividend yield 2.80% 10.25% 4.54%
Payout ratio 0.76 0.81 0.76

Size

Metric DTM FRO Oil & Gas Midstream median
Market cap 12.12b 11.70b 3.73b

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