Genesis Energy, L.P. (GEL) vs Global Partners LP (GLP)

Genesis Energy, L.P. and Global Partners LP are both Oil & Gas Midstream companies. Genesis Energy, L.P. and Global Partners LP are of similar size ($1.8B and $1.6B). Global Partners LP trades at the lower P/E: 9.6× against 74.6×. Global Partners LP grew revenue faster over the last twelve months: 20.4% against 16.6%. Genesis Energy, L.P. has the higher net margin (1.34% vs 0.78%) and the lower return on invested capital (6.66% vs 8.44%). Both pay a dividend; Global Partners LP yields more (5.73% vs 5.37%). Across the 23 metrics below, Global Partners LP leads on 16 and Genesis Energy, L.P. on 7.

Valuation

Metric GEL GLP Oil & Gas Midstream median
P/E 74.58 9.64 13.19
P/S 0.95 0.08 2.60
P/B 13.59 2.39 2.08
Price to free cash flow 4.97 7.76 10.14
EV/EBITDA 8.07 6.88 8.11
EV/Sales 2.67 0.15 3.89
Earnings yield 1.34% 10.37% 6.83%
Free cash flow yield 20.11% 12.88% 6.94%

Profitability

Metric GEL GLP Oil & Gas Midstream median
Gross margin 35.08% 5.57% 58.81%
Operating margin 19.12% 1.55% 32.14%
Net margin 1.34% 0.78% 21.16%
Free cash flow margin 19.03% 0.97% 10.15%
Return on equity 16.81% 25.90% 11.30%
Return on assets 0.48% 4.28% 5.00%
Return on invested capital 6.66% 8.44% 6.13%

Growth

Metric GEL GLP Oil & Gas Midstream median
Revenue growth (TTM) 16.63% 20.35% 15.44%
EPS growth (last fiscal year) (237.90%) (12.45%) —
Revenue growth, 5-year CAGR (2.23%) 17.40% 8.96%
Net income growth, 5-year CAGR 0.00% (5.18%) 0.00%

Health

Metric GEL GLP Oil & Gas Midstream median
Debt to equity 25.09 2.31 0.78
Current ratio 0.93 1.19 1.19
Net debt to EBITDA 5.82 4.61 3.42

Dividend

Metric GEL GLP Oil & Gas Midstream median
Dividend yield 5.37% 5.73% 7.29%
Payout ratio — — 0.64

Size

Metric GEL GLP Oil & Gas Midstream median
Market cap 1.75b 1.63b 3.61b

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