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 $1.7B against $1.5B — 1.1× the size. Tsakos Energy Navigation Ltd trades at the lower P/E: 5.2× against 74.9×. 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 74.95 5.17 12.77
P/S 0.95 1.60 2.36
P/B 13.65 0.75 2.09
Price to free cash flow 5.00 n/m 9.71
EV/EBITDA 8.08 7.60 8.30
EV/Sales 2.67 3.28 3.88
Earnings yield 1.33% 19.33% 7.15%
Free cash flow yield 20.01% (17.38%) 6.86%

Profitability

Metric GEL TEN Oil & Gas Midstream median
Gross margin 35.08% 61.58% 56.58%
Operating margin 19.12% 43.17% 34.18%
Net margin 1.34% 30.77% 22.50%
Free cash flow margin 19.03% (27.72%) 13.70%
Return on equity 16.81% 15.61% 14.65%
Return on assets 0.48% 7.25% 5.00%
Return on invested capital 6.66% 7.05% 6.13%

Growth

Metric GEL TEN Oil & Gas Midstream median
Revenue growth (TTM) 16.63% 23.23% 15.60%
EPS growth (last fiscal year) (237.90%) (11.53%) (7.86%)
Revenue growth, 5-year CAGR (2.23%) 4.40% 9.59%
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 0.78
Current ratio 0.93 1.40 1.19
Net debt to EBITDA 5.82 3.89 3.42

Dividend

Metric GEL TEN Oil & Gas Midstream median
Dividend yield 6.50% — 4.54%
Payout ratio 4.87 — 0.76

Size

Metric GEL TEN Oil & Gas Midstream median
Market cap 1.70b 1.52b 3.73b

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