Golar LNG Limited (GLNG) vs Hess Midstream Partners LP (HESM)

Golar LNG Limited and Hess Midstream Partners LP are both Oil & Gas Midstream companies. Hess Midstream Partners LP is the larger, with a market value of $7.9B against $5.1B — 1.6× the size. Hess Midstream Partners LP trades at the lower P/E: 13.2× against 31.4×. Golar LNG Limited grew revenue faster over the last twelve months: 59.7% against 2.78%. Golar LNG Limited has the higher net margin (35.7% vs 23.2%) and the lower return on invested capital (3.71% vs 15.4%). Both pay a dividend; Hess Midstream Partners LP yields more (8.10% vs 4.66%). Across the 22 metrics below, Hess Midstream Partners LP leads on 16 and Golar LNG Limited on 6.

Valuation

Metric GLNG HESM Oil & Gas Midstream median
P/E 31.40 13.19 13.19
P/S 11.08 3.04 2.60
P/B 2.29 12.66 2.08
Price to free cash flow n/m 5.86 10.14
EV/EBITDA 22.86 6.94 8.11
EV/Sales 14.74 5.32 3.89
Earnings yield 3.18% 7.58% 6.83%
Free cash flow yield (8.71%) 17.06% 6.94%

Profitability

Metric GLNG HESM Oil & Gas Midstream median
Gross margin 65.48% 100.00% 58.81%
Operating margin 50.45% 62.06% 32.14%
Net margin 35.65% 23.23% 21.16%
Free cash flow margin (96.52%) 51.90% 10.15%
Return on equity 7.21% 83.74% 11.30%
Return on assets 6.05% 8.64% 5.00%
Return on invested capital 3.71% 15.41% 6.13%

Growth

Metric GLNG HESM Oil & Gas Midstream median
Revenue growth (TTM) 59.70% 2.78% 15.44%
EPS growth (last fiscal year) 35.42% 14.86% —
Revenue growth, 5-year CAGR (2.15%) 8.23% 8.96%
Net income growth, 5-year CAGR 0.00% 71.19% 0.00%

Health

Metric GLNG HESM Oil & Gas Midstream median
Debt to equity 1.22 9.48 0.78
Current ratio 2.34 0.77 1.19
Net debt to EBITDA 9.20 3.05 3.42

Dividend

Metric GLNG HESM Oil & Gas Midstream median
Dividend yield 4.66% 8.10% 7.29%
Payout ratio 0.27 — 0.64

Size

Metric GLNG HESM Oil & Gas Midstream median
Market cap 5.10b 7.93b 3.61b

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