Ecopetrol S.A. (EC) vs National Fuel Gas Company (NFG)

Ecopetrol S.A. and National Fuel Gas Company are both Oil & Gas Integrated companies. Ecopetrol S.A. is the larger, with a market value of $32.0B against $7.0B — 4.5× the size. Ecopetrol S.A. trades at the lower P/E: 8.3× against 10.2×. National Fuel Gas Company grew revenue faster over the last twelve months: 15.1% against −76.8%. National Fuel Gas Company has the higher net margin (26.9% vs 11.7%) and the higher return on invested capital (10.1% vs 9.16%). Both pay a dividend; Ecopetrol S.A. yields more (4.16% vs 2.94%). Across the 23 metrics below, National Fuel Gas Company leads on 12 and Ecopetrol S.A. on 11.

Valuation

Metric EC NFG Oil & Gas Integrated median
P/E 8.26 10.24 8.84
P/S 0.99 2.81 1.10
P/B 1.50 1.80 1.43
Price to free cash flow 6.46 31.76 8.19
EV/EBITDA 4.73 6.49 4.43
EV/Sales 1.86 3.86 1.48
Earnings yield 12.11% 9.76% 9.76%
Free cash flow yield 15.47% 3.15% 7.35%

Profitability

Metric EC NFG Oil & Gas Integrated median
Gross margin 36.64% 87.74% 39.93%
Operating margin 27.60% 40.26% 17.07%
Net margin 11.72% 26.86% 10.24%
Free cash flow margin 15.34% 8.84% 11.16%
Return on equity 0.00% 19.58% 14.86%
Return on assets 5.27% 7.15% 7.07%
Return on invested capital 9.16% 10.11% 12.85%

Growth

Metric EC NFG Oil & Gas Integrated median
Revenue growth (TTM) (76.82%) 15.13% 13.45%
EPS growth (last fiscal year) (24.10%) 576.19% (14.54%)
Revenue growth, 5-year CAGR (18.18%) 8.05% 12.04%
Net income growth, 5-year CAGR 0.34% 0.00% 0.00%

Health

Metric EC NFG Oil & Gas Integrated median
Debt to equity 0.96 0.91 0.53
Current ratio 1.51 3.20 1.19
Net debt to EBITDA 2.26 2.08 0.80

Dividend

Metric EC NFG Oil & Gas Integrated median
Dividend yield 4.16% 2.94% 3.83%
Payout ratio 0.34 0.30 0.34

Size

Metric EC NFG Oil & Gas Integrated median
Market cap 31.95b 7.03b 47.17b

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