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

Genesis Energy, L.P. and NGL Energy Partners LP are both Oil & Gas Midstream companies. Genesis Energy, L.P. and NGL Energy Partners LP are of similar size ($1.9B and $1.8B). NGL Energy Partners LP has negative trailing earnings, so its P/E is not meaningful; Genesis Energy, L.P. trades at 74.6×. Genesis Energy, L.P. grew revenue faster over the last twelve months: 16.6% against 5.76%. Genesis Energy, L.P. has the higher net margin (1.34% vs −9.96%) and the higher return on invested capital (6.66% vs 2.94%). Across the 19 metrics below, Genesis Energy, L.P. leads on 14 and NGL Energy Partners LP on 5.

Valuation

Metric GEL NGL Oil & Gas Midstream median
P/E 74.58 n/m 13.19
P/S 0.95 0.53 2.60
P/B 13.59 n/m 2.08
Price to free cash flow 4.97 18.50 10.14
EV/EBITDA 8.07 12.63 8.11
EV/Sales 2.67 1.46 3.89
Earnings yield 1.34% (18.81%) 6.83%
Free cash flow yield 20.11% 5.41% 6.94%

Profitability

Metric GEL NGL Oil & Gas Midstream median
Gross margin 35.08% 29.52% 58.81%
Operating margin 19.12% 4.05% 32.14%
Net margin 1.34% (9.96%) 21.16%
Free cash flow margin 19.03% 2.89% 10.15%
Return on equity 16.81% 88.77% 11.30%
Return on assets 0.48% (8.39%) 5.00%
Return on invested capital 6.66% 2.94% 6.13%

Growth

Metric GEL NGL Oil & Gas Midstream median
Revenue growth (TTM) 16.63% 5.76% 15.44%
EPS growth (last fiscal year) (237.90%) (431.67%) —
Revenue growth, 5-year CAGR (2.23%) (9.60%) 8.96%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GEL NGL Oil & Gas Midstream median
Debt to equity 25.09 (13.85) 0.78
Current ratio 0.93 1.14 1.19
Net debt to EBITDA 5.82 8.88 3.42

Dividend

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

Size

Metric GEL NGL Oil & Gas Midstream median
Market cap 1.75b 1.92b 3.61b

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