Global Partners LP (GLP) vs Nordic American Tankers Limited (NAT)

Global Partners LP and Nordic American Tankers Limited are both Oil & Gas Midstream companies. Global Partners LP and Nordic American Tankers Limited are of similar size ($1.4B and $1.4B). Global Partners LP trades at the lower P/E: 8.5× against 11.2×. Nordic American Tankers Limited grew revenue faster over the last twelve months: 28.7% against 20.4%. Nordic American Tankers Limited has the higher net margin (31.9% vs 0.78%) and the higher return on invested capital (13.3% vs 8.44%). Both pay a dividend; Nordic American Tankers Limited yields more (12.0% vs 7.29%). Across the 23 metrics below, Nordic American Tankers Limited leads on 13 and Global Partners LP on 10.

Valuation

Metric GLP NAT Oil & Gas Midstream median
P/E 8.52 11.19 11.68
P/S 0.07 3.61 2.39
P/B 2.11 3.14 1.68
Price to free cash flow 6.86 6.71 8.52
EV/EBITDA 6.49 10.47 9.03
EV/Sales 0.15 4.31 3.43
Earnings yield 11.74% 8.94% 7.78%
Free cash flow yield 14.58% 14.91% 7.11%

Profitability

Metric GLP NAT Oil & Gas Midstream median
Gross margin 5.57% 55.22% 54.87%
Operating margin 1.55% 41.19% 34.73%
Net margin 0.78% 31.86% 20.12%
Free cash flow margin 0.97% 53.77% 14.43%
Return on equity 25.90% 0.00% 11.73%
Return on assets 4.28% 13.17% 4.43%
Return on invested capital 8.44% 13.29% 6.10%

Growth

Metric GLP NAT Oil & Gas Midstream median
Revenue growth (TTM) 20.35% 28.69% 14.88%
EPS growth (last fiscal year) (12.45%) (72.73%) (7.78%)
Revenue growth, 5-year CAGR 17.40% (3.78%) 10.05%
Net income growth, 5-year CAGR (5.18%) (24.50%) 0.00%

Health

Metric GLP NAT Oil & Gas Midstream median
Debt to equity 2.31 0.85 0.77
Current ratio 1.19 3.27 1.19
Net debt to EBITDA 4.61 3.61 3.46

Dividend

Metric GLP NAT Oil & Gas Midstream median
Dividend yield 7.29% 11.97% 4.94%
Payout ratio 0.62 1.34 0.73

Size

Metric GLP NAT Oil & Gas Midstream median
Market cap 1.42b 1.38b 3.56b

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