Ecopetrol S.A. (EC) vs YPF Sociedad Anonima (YPF)

Ecopetrol S.A. and YPF Sociedad Anonima are both Oil & Gas Integrated companies. Ecopetrol S.A. is the larger, with a market value of $36.4B against $20.1B — 1.8× the size. Ecopetrol S.A. trades at the lower P/E: 14.2× against 27.4×. YPF Sociedad Anonima grew revenue faster over the last twelve months: 7.37% against −76.8%. Ecopetrol S.A. has the higher net margin (11.7% vs 3.60%) and the lower return on invested capital (9.16% vs 11.5%). Across the 22 metrics below, YPF Sociedad Anonima leads on 13 and Ecopetrol S.A. on 9.

Valuation

Metric EC YPF Oil & Gas Integrated median
P/E 14.21 27.43 12.62
P/S 1.14 0.97 1.29
P/B 1.72 1.58 1.62
Price to free cash flow 7.41 6.29 10.23
EV/EBITDA 5.10 4.00 4.86
EV/Sales 2.00 1.36 1.52
Earnings yield 7.04% 3.65% 7.04%
Free cash flow yield 13.49% 15.90% 6.09%

Profitability

Metric EC YPF Oil & Gas Integrated median
Gross margin 36.64% 35.38% 39.18%
Operating margin 27.60% 18.47% 14.90%
Net margin 11.72% 3.60% 8.88%
Free cash flow margin 15.34% 15.49% 9.61%
Return on equity 0.00% 6.03% 12.22%
Return on assets 5.27% 2.43% 6.47%
Return on invested capital 9.16% 11.47% 10.61%

Growth

Metric EC YPF Oil & Gas Integrated median
Revenue growth (TTM) (76.82%) 7.37% 5.63%
EPS growth (last fiscal year) (24.10%) (135.23%) (14.54%)
Revenue growth, 5-year CAGR (18.18%) 14.19% 12.04%
Net income growth, 5-year CAGR 0.34% 0.00% 0.00%

Health

Metric EC YPF Oil & Gas Integrated median
Debt to equity 0.96 0.82 0.55
Current ratio 1.51 0.93 1.18
Net debt to EBITDA 2.26 1.95 0.80

Dividend

Metric EC YPF Oil & Gas Integrated median
Dividend yield 3.69% — 3.24%
Payout ratio 0.52 — 0.52

Size

Metric EC YPF Oil & Gas Integrated median
Market cap 36.39b 20.10b 58.96b

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