Genesis Energy, L.P. (GEL) vs Tsakos Energy Navigation Ltd (TEN)

Genesis Energy, L.P. and Tsakos Energy Navigation Ltd are both Oil & Gas Midstream companies. Genesis Energy, L.P. is the larger, with a market value of $1.5B against $1.3B — 1.2× the size. Tsakos Energy Navigation Ltd trades at the lower P/E: 4.5× against 66.1×. Tsakos Energy Navigation Ltd grew revenue faster over the last twelve months: 23.2% against 16.6%. Tsakos Energy Navigation Ltd has the higher net margin (30.8% vs 1.34%) and the higher return on invested capital (7.05% vs 6.66%). Across the 20 metrics below, Tsakos Energy Navigation Ltd leads on 15 and Genesis Energy, L.P. on 5.

Valuation

Metric GEL TEN Oil & Gas Midstream median
P/E 66.11 4.50 11.68
P/S 0.84 1.39 2.39
P/B 12.04 0.65 1.68
Price to free cash flow 4.41 n/m 8.52
EV/EBITDA 7.74 7.11 9.03
EV/Sales 2.56 3.07 3.43
Earnings yield 1.51% 22.23% 7.78%
Free cash flow yield 22.69% (19.99%) 7.11%

Profitability

Metric GEL TEN Oil & Gas Midstream median
Gross margin 35.08% 61.58% 54.87%
Operating margin 19.12% 43.17% 34.73%
Net margin 1.34% 30.77% 20.12%
Free cash flow margin 19.03% (27.72%) 14.43%
Return on equity 16.81% 15.61% 11.73%
Return on assets 0.48% 7.25% 4.43%
Return on invested capital 6.66% 7.05% 6.10%

Growth

Metric GEL TEN Oil & Gas Midstream median
Revenue growth (TTM) 16.63% 23.23% 14.88%
EPS growth (last fiscal year) (237.90%) (11.53%) (7.78%)
Revenue growth, 5-year CAGR (2.23%) 4.40% 10.05%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GEL TEN Oil & Gas Midstream median
Debt to equity 25.09 1.02 0.77
Current ratio 0.93 1.40 1.19
Net debt to EBITDA 5.82 3.89 3.46

Dividend

Metric GEL TEN Oil & Gas Midstream median
Dividend yield 6.05% — 4.94%
Payout ratio 4.00 — 0.73

Size

Metric GEL TEN Oil & Gas Midstream median
Market cap 1.53b 1.30b 3.56b

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