Genesis Energy, L.P. (GEL) vs Permian Basin Royalty Trust (PBT)

Genesis Energy, L.P. and Permian Basin Royalty Trust are both Oil & Gas Midstream companies. Genesis Energy, L.P. is the larger, with a market value of $1.8B against $1.6B — 1.1× the size. Genesis Energy, L.P. trades at the lower P/E: 74.6× against 96.4×. Genesis Energy, L.P. grew revenue faster over the last twelve months: 16.6% against −3.71%. Permian Basin Royalty Trust has the higher net margin (92.0% vs 1.34%) and the lower return on invested capital (0.00% vs 6.66%). Both pay a dividend; Genesis Energy, L.P. yields more (5.37% vs 4.49%). Across the 21 metrics below, Genesis Energy, L.P. leads on 11 and Permian Basin Royalty Trust on 10.

Valuation

Metric GEL PBT Oil & Gas Midstream median
P/E 74.58 96.37 13.19
P/S 0.95 89.22 2.60
P/B 13.59 n/m 2.08
Price to free cash flow 4.97 n/m 10.14
EV/EBITDA 8.07 97.32 8.11
EV/Sales 2.67 89.09 3.89
Earnings yield 1.34% 1.04% 6.83%
Free cash flow yield 20.11% 0.00% 6.94%

Profitability

Metric GEL PBT Oil & Gas Midstream median
Gross margin 35.08% 100.00% 58.81%
Operating margin 19.12% 91.54% 32.14%
Net margin 1.34% 91.96% 21.16%
Free cash flow margin 19.03% 0.00% 10.15%
Return on equity 16.81% 0.00% 11.30%
Return on assets 0.48% 757.27% 5.00%
Return on invested capital 6.66% 0.00% 6.13%

Growth

Metric GEL PBT Oil & Gas Midstream median
Revenue growth (TTM) 16.63% (3.71%) 15.44%
EPS growth (last fiscal year) (237.90%) (43.64%) —
Revenue growth, 5-year CAGR (2.23%) 5.92% 8.96%
Net income growth, 5-year CAGR 0.00% 5.47% 0.00%

Health

Metric GEL PBT Oil & Gas Midstream median
Debt to equity 25.09 0.00 0.78
Current ratio 0.93 1.00 1.19
Net debt to EBITDA 5.82 (0.12) 3.42

Dividend

Metric GEL PBT Oil & Gas Midstream median
Dividend yield 5.37% 4.49% 7.29%
Payout ratio — 1.00 0.64

Size

Metric GEL PBT Oil & Gas Midstream median
Market cap 1.75b 1.57b 3.61b

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