EQT Corporation (EQT) vs Texas Pacific Land Corporation (TPL)

EQT Corporation and Texas Pacific Land Corporation are both Oil & Gas E&P companies. EQT Corporation is the larger, with a market value of $32.5B against $23.3B — 1.4× the size. EQT Corporation trades at the lower P/E: 11.7× against 43.5×. EQT Corporation grew revenue faster over the last twelve months: 32.3% against 20.8%. Texas Pacific Land Corporation has the higher net margin (60.3% vs 28.4%) and the higher return on invested capital (29.5% vs 7.36%). Both pay a dividend; EQT Corporation yields more (1.69% vs 0.88%). Across the 23 metrics below, EQT Corporation leads on 12 and Texas Pacific Land Corporation on 11.

Valuation

Metric EQT TPL Oil & Gas E&P median
P/E 11.71 43.47 10.57
P/S 3.34 26.21 1.80
P/B 1.10 14.07 1.27
Price to free cash flow 8.45 61.09 9.99
EV/EBITDA 5.53 31.44 5.08
EV/Sales 3.92 25.93 2.39
Earnings yield 8.54% 2.30% 6.06%
Free cash flow yield 11.84% 1.64% 6.17%

Profitability

Metric EQT TPL Oil & Gas E&P median
Gross margin 79.26% 100.00% 80.41%
Operating margin 42.47% 74.92% 21.39%
Net margin 28.44% 60.32% 14.17%
Free cash flow margin 39.48% 42.90% 9.71%
Return on equity 10.05% 36.57% 10.05%
Return on assets 6.70% 33.17% 5.81%
Return on invested capital 7.36% 29.52% 6.32%

Growth

Metric EQT TPL Oil & Gas E&P median
Revenue growth (TTM) 32.32% 20.82% 9.94%
EPS growth (last fiscal year) 635.56% 6.04% —
Revenue growth, 5-year CAGR 23.09% 21.41% 18.67%
Net income growth, 5-year CAGR 0.00% 22.28% 0.00%

Health

Metric EQT TPL Oil & Gas E&P median
Debt to equity 0.20 0.00 0.28
Current ratio 0.67 10.86 0.96
Net debt to EBITDA 1.31 (0.22) 0.91

Dividend

Metric EQT TPL Oil & Gas E&P median
Dividend yield 1.69% 0.88% 4.93%
Payout ratio 0.07 0.23 0.07

Size

Metric EQT TPL Oil & Gas E&P median
Market cap 32.45b 23.28b 923.59m

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