Global Partners LP (GLP) vs Tsakos Energy Navigation Ltd (TEN)

Global Partners LP and Tsakos Energy Navigation Ltd are both Oil & Gas Midstream companies. Global Partners LP and Tsakos Energy Navigation Ltd are of similar size ($1.4B and $1.3B). Tsakos Energy Navigation Ltd trades at the lower P/E: 4.5× against 8.5×. Tsakos Energy Navigation Ltd grew revenue faster over the last twelve months: 23.2% against 20.4%. Tsakos Energy Navigation Ltd has the higher net margin (30.8% vs 0.78%) and the lower return on invested capital (7.05% vs 8.44%). Across the 21 metrics below, Tsakos Energy Navigation Ltd leads on 13 and Global Partners LP on 8.

Valuation

Metric GLP TEN Oil & Gas Midstream median
P/E 8.52 4.50 11.68
P/S 0.07 1.39 2.39
P/B 2.11 0.65 1.68
Price to free cash flow 6.86 n/m 8.52
EV/EBITDA 6.49 7.11 9.03
EV/Sales 0.15 3.07 3.43
Earnings yield 11.74% 22.23% 7.78%
Free cash flow yield 14.58% (19.99%) 7.11%

Profitability

Metric GLP TEN Oil & Gas Midstream median
Gross margin 5.57% 61.58% 54.87%
Operating margin 1.55% 43.17% 34.73%
Net margin 0.78% 30.77% 20.12%
Free cash flow margin 0.97% (27.72%) 14.43%
Return on equity 25.90% 15.61% 11.73%
Return on assets 4.28% 7.25% 4.43%
Return on invested capital 8.44% 7.05% 6.10%

Growth

Metric GLP TEN Oil & Gas Midstream median
Revenue growth (TTM) 20.35% 23.23% 14.88%
EPS growth (last fiscal year) (12.45%) (11.53%) (7.78%)
Revenue growth, 5-year CAGR 17.40% 4.40% 10.05%
Net income growth, 5-year CAGR (5.18%) 0.00% 0.00%

Health

Metric GLP TEN Oil & Gas Midstream median
Debt to equity 2.31 1.02 0.77
Current ratio 1.19 1.40 1.19
Net debt to EBITDA 4.61 3.89 3.46

Dividend

Metric GLP TEN Oil & Gas Midstream median
Dividend yield 7.29% — 4.94%
Payout ratio 0.62 — 0.73

Size

Metric GLP TEN Oil & Gas Midstream median
Market cap 1.42b 1.30b 3.56b

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