Golar LNG Limited (GLNG) vs Kinetik Holdings Inc. (KNTK)

Golar LNG Limited and Kinetik Holdings Inc. are both Oil & Gas Midstream companies. Kinetik Holdings Inc. is the larger, with a market value of $8.5B against $5.1B — 1.7× the size. Kinetik Holdings Inc. trades at the lower P/E: 18.4× against 31.4×. Golar LNG Limited grew revenue faster over the last twelve months: 59.7% against 14.2%. Golar LNG Limited has the higher net margin (35.7% vs 10.4%) and the lower return on invested capital (3.71% vs 4.47%). Both pay a dividend; Kinetik Holdings Inc. yields more (9.21% vs 4.66%). Across the 21 metrics below, Kinetik Holdings Inc. leads on 14 and Golar LNG Limited on 7.

Valuation

Metric GLNG KNTK Oil & Gas Midstream median
P/E 31.40 18.35 13.19
P/S 11.08 2.04 2.60
P/B 2.29 n/m 2.08
Price to free cash flow n/m 31.19 10.14
EV/EBITDA 22.86 12.69 8.11
EV/Sales 14.74 4.14 3.89
Earnings yield 3.18% 5.45% 6.83%
Free cash flow yield (8.71%) 3.21% 6.94%

Profitability

Metric GLNG KNTK Oil & Gas Midstream median
Gross margin 65.48% 40.92% 58.81%
Operating margin 50.45% 10.52% 32.14%
Net margin 35.65% 10.41% 21.16%
Free cash flow margin (96.52%) 6.54% 10.15%
Return on equity 7.21% (14.28%) 11.30%
Return on assets 6.05% 2.74% 5.00%
Return on invested capital 3.71% 4.47% 6.13%

Growth

Metric GLNG KNTK Oil & Gas Midstream median
Revenue growth (TTM) 59.70% 14.15% 15.44%
EPS growth (last fiscal year) 35.42% 157.84% —
Revenue growth, 5-year CAGR (2.15%) 33.88% 8.96%
Net income growth, 5-year CAGR 0.00% 126.35% 0.00%

Health

Metric GLNG KNTK Oil & Gas Midstream median
Debt to equity 1.22 (3.34) 0.78
Current ratio 2.34 0.68 1.19
Net debt to EBITDA 9.20 6.79 3.42

Dividend

Metric GLNG KNTK Oil & Gas Midstream median
Dividend yield 4.66% 9.21% 7.29%
Payout ratio 0.27 1.79 0.64

Size

Metric GLNG KNTK Oil & Gas Midstream median
Market cap 5.10b 8.53b 3.61b

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