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 ($1.7B and $1.7B). Global Partners LP trades at the lower P/E: 10.1× against 74.9×. 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; Genesis Energy, L.P. yields more (6.50% vs 6.16%). Across the 23 metrics below, Global Partners LP leads on 15 and Genesis Energy, L.P. on 8.

Valuation

Metric GEL GLP Oil & Gas Midstream median
P/E 74.95 10.08 12.77
P/S 0.95 0.08 2.36
P/B 13.65 2.49 2.09
Price to free cash flow 5.00 8.12 9.71
EV/EBITDA 8.08 7.04 8.30
EV/Sales 2.67 0.16 3.88
Earnings yield 1.33% 9.92% 7.15%
Free cash flow yield 20.01% 12.32% 6.86%

Profitability

Metric GEL GLP Oil & Gas Midstream median
Gross margin 35.08% 5.57% 56.58%
Operating margin 19.12% 1.55% 34.18%
Net margin 1.34% 0.78% 22.50%
Free cash flow margin 19.03% 0.97% 13.70%
Return on equity 16.81% 25.90% 14.65%
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% 15.60%
EPS growth (last fiscal year) (237.90%) (12.45%) (7.86%)
Revenue growth, 5-year CAGR (2.23%) 17.40% 9.59%
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 6.50% 6.16% 4.54%
Payout ratio 4.87 0.62 0.76

Size

Metric GEL GLP Oil & Gas Midstream median
Market cap 1.70b 1.67b 3.73b

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