Icahn Enterprises L.P. (IEP) vs SINOPEC Shangai Petrochemical Company, Ltd. (SHI)

Icahn Enterprises L.P. and SINOPEC Shangai Petrochemical Company, Ltd. are both Oil & Gas Refining & Marketing companies. Icahn Enterprises L.P. is the larger, with a market value of $4.9B against $3.8B — 1.3× the size. Icahn Enterprises L.P. has negative trailing earnings, so its P/E is not meaningful; SINOPEC Shangai Petrochemical Company, Ltd. trades at 117×. SINOPEC Shangai Petrochemical Company, Ltd. grew revenue faster over the last twelve months: 28.2% against 10.6%. SINOPEC Shangai Petrochemical Company, Ltd. has the higher net margin (1.73% vs −4.86%) and the lower return on invested capital (0.00% vs 1.84%). Both pay a dividend; Icahn Enterprises L.P. yields more (31.1% vs 9.63%). Across the 20 metrics below, SINOPEC Shangai Petrochemical Company, Ltd. leads on 13 and Icahn Enterprises L.P. on 7.

Valuation

Metric IEP SHI Oil & Gas Refining & Marketing median
P/E n/m 116.83 15.04
P/S 0.44 0.09 0.41
P/B 2.17 0.47 1.87
Price to free cash flow n/m n/m 8.78
EV/EBITDA 8.91 3.04 7.94
EV/Sales 0.60 0.08 0.59
Earnings yield (10.63%) 0.86% 6.15%
Free cash flow yield (5.39%) (80.82%) 10.47%

Profitability

Metric IEP SHI Oil & Gas Refining & Marketing median
Gross margin 14.49% 7.74% 12.22%
Operating margin 1.07% 2.41% 5.35%
Net margin (4.86%) 1.73% 2.08%
Free cash flow margin (2.37%) 0.00% 4.25%
Return on equity (18.50%) 0.00% 11.39%
Return on assets (3.71%) 0.00% 5.22%
Return on invested capital 1.84% 0.00% 11.54%

Growth

Metric IEP SHI Oil & Gas Refining & Marketing median
Revenue growth (TTM) 10.62% 28.24% 13.37%
EPS growth (last fiscal year) 44.68% (232.66%) —
Revenue growth, 5-year CAGR 9.54% (1.64%) 12.77%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IEP SHI Oil & Gas Refining & Marketing median
Debt to equity 2.98 0.20 0.44
Current ratio 2.87 1.16 1.32
Net debt to EBITDA 1.12 1.01 2.07

Dividend

Metric IEP SHI Oil & Gas Refining & Marketing median
Dividend yield 31.12% 9.63% 3.64%
Payout ratio — 0.52 0.14

Size

Metric IEP SHI Oil & Gas Refining & Marketing median
Market cap 4.93b 3.81b 4.12b

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