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 $33.7B against $7.5B — 4.5× the size. National Fuel Gas Company trades at the lower P/E: 10.9× against 13.2×. National Fuel Gas Company grew revenue faster over the last twelve months: 15.1% against −83.7%. National Fuel Gas Company has the higher net margin (26.9% vs 8.76%) and the higher return on invested capital (10.1% vs 8.20%). Both pay a dividend; Ecopetrol S.A. yields more (18.0% vs 4.01%). Across the 23 metrics below, National Fuel Gas Company leads on 14 and Ecopetrol S.A. on 9.

Valuation

Metric EC NFG Oil & Gas Integrated median
P/E 13.19 10.90 11.88
P/S 1.43 2.99 1.20
P/B 1.60 1.91 1.56
Price to free cash flow 7.76 33.77 9.74
EV/EBITDA 6.26 6.79 4.94
EV/Sales 2.24 4.03 1.57
Earnings yield 7.58% 9.18% 7.58%
Free cash flow yield 12.89% 2.96% 6.71%

Profitability

Metric EC NFG Oil & Gas Integrated median
Gross margin 31.44% 87.74% 39.18%
Operating margin 22.29% 40.26% 14.90%
Net margin 8.76% 26.86% 8.76%
Free cash flow margin 18.44% 8.84% 9.61%
Return on equity 2.86% 19.58% 12.22%
Return on assets 1.09% 7.15% 6.47%
Return on invested capital 8.20% 10.11% 10.61%

Growth

Metric EC NFG Oil & Gas Integrated median
Revenue growth (TTM) (83.68%) 15.13% 5.63%
EPS growth (last fiscal year) (24.10%) 576.19% —
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 1.02 0.91 0.55
Current ratio 1.55 3.20 1.18
Net debt to EBITDA 2.26 2.08 0.80

Dividend

Metric EC NFG Oil & Gas Integrated median
Dividend yield 18.03% 4.01% 5.01%
Payout ratio 0.39 0.32 0.29

Size

Metric EC NFG Oil & Gas Integrated median
Market cap 33.65b 7.51b 51.12b

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