Genesis Energy, L.P. (GEL) vs Navigator Holdings Ltd. (NVGS)

Genesis Energy, L.P. and Navigator Holdings Ltd. are both Oil & Gas Midstream companies. Genesis Energy, L.P. is the larger, with a market value of $1.8B against $1.4B — 1.2× the size. Navigator Holdings Ltd. trades at the lower P/E: 10.5× against 74.6×. Genesis Energy, L.P. grew revenue faster over the last twelve months: 16.6% against 8.39%. Navigator Holdings Ltd. has the higher net margin (22.8% vs 1.34%) and the lower return on invested capital (5.16% vs 6.66%). Both pay a dividend; Genesis Energy, L.P. yields more (5.37% vs 1.11%). Across the 22 metrics below, Navigator Holdings Ltd. leads on 14 and Genesis Energy, L.P. on 8.

Valuation

Metric GEL NVGS Oil & Gas Midstream median
P/E 74.58 10.51 13.19
P/S 0.95 2.31 2.60
P/B 13.59 1.12 2.08
Price to free cash flow 4.97 6.97 10.14
EV/EBITDA 8.07 7.11 8.11
EV/Sales 2.67 3.36 3.89
Earnings yield 1.34% 9.51% 6.83%
Free cash flow yield 20.11% 14.36% 6.94%

Profitability

Metric GEL NVGS Oil & Gas Midstream median
Gross margin 35.08% 54.61% 58.81%
Operating margin 19.12% 25.77% 32.14%
Net margin 1.34% 22.80% 21.16%
Free cash flow margin 19.03% 33.14% 10.15%
Return on equity 16.81% 11.09% 11.30%
Return on assets 0.48% 5.96% 5.00%
Return on invested capital 6.66% 5.16% 6.13%

Growth

Metric GEL NVGS Oil & Gas Midstream median
Revenue growth (TTM) 16.63% 8.39% 15.44%
EPS growth (last fiscal year) (237.90%) 23.53% —
Revenue growth, 5-year CAGR (2.23%) 12.04% 8.96%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GEL NVGS Oil & Gas Midstream median
Debt to equity 25.09 0.72 0.78
Current ratio 0.93 1.71 1.19
Net debt to EBITDA 5.82 2.48 3.42

Dividend

Metric GEL NVGS Oil & Gas Midstream median
Dividend yield 5.37% 1.11% 7.29%
Payout ratio — 0.00 0.64

Size

Metric GEL NVGS Oil & Gas Midstream median
Market cap 1.75b 1.44b 3.61b

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