Icahn Enterprises L.P. (IEP) vs Star Group, L.P. (SGU)

Icahn Enterprises L.P. and Star Group, L.P. are both Oil & Gas Refining & Marketing companies. Icahn Enterprises L.P. is the larger, with a market value of $3.7B against $431.5M — 8.5× the size. Icahn Enterprises L.P. has negative trailing earnings, so its P/E is not meaningful; Star Group, L.P. trades at 7.0×. Icahn Enterprises L.P. grew revenue faster over the last twelve months: 16.1% against 7.58%. Star Group, L.P. has the higher net margin (3.96% vs −9.20%) and the higher return on invested capital (16.0% vs 0.00%). Both pay a dividend; Icahn Enterprises L.P. yields more (38.8% vs 5.91%). Across the 21 metrics below, Star Group, L.P. leads on 18 and Icahn Enterprises L.P. on 3.

Valuation

Metric IEP SGU Oil & Gas Refining & Marketing median
P/E n/m 7.03 8.38
P/S 0.33 0.23 0.33
P/B 2.36 1.11 1.70
Price to free cash flow n/m 6.91 5.86
EV/EBITDA 7.67 3.35 4.96
EV/Sales 0.49 0.30 0.46
Earnings yield (29.84%) 14.22% 9.67%
Free cash flow yield (1.35%) 14.46% 15.55%

Profitability

Metric IEP SGU Oil & Gas Refining & Marketing median
Gross margin 0.00% 31.79% 10.93%
Operating margin 0.00% 7.14% 7.14%
Net margin (9.20%) 3.96% 2.70%
Free cash flow margin 2.79% 3.27% 6.17%
Return on equity (40.79%) 20.83% 21.95%
Return on assets (7.68%) 7.67% 5.76%
Return on invested capital 0.00% 15.95% 13.74%

Growth

Metric IEP SGU Oil & Gas Refining & Marketing median
Revenue growth (TTM) 16.07% 7.58% 26.02%
EPS growth (last fiscal year) 44.68% 102.22% 37.92%
Revenue growth, 5-year CAGR 9.54% 3.99% 13.17%
Net income growth, 5-year CAGR 0.00% 5.09% 0.00%

Health

Metric IEP SGU Oil & Gas Refining & Marketing median
Debt to equity 4.07 0.44 0.41
Current ratio 0.00 0.87 1.31
Net debt to EBITDA 1.12 1.08 2.07

Dividend

Metric IEP SGU Oil & Gas Refining & Marketing median
Dividend yield 38.76% 5.91% 2.20%
Payout ratio — 0.42 0.25

Size

Metric IEP SGU Oil & Gas Refining & Marketing median
Market cap 3.65b 431.47m 3.91b

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