Imperial Petroleum Inc. (IMPP) vs Martin Midstream Partners L.P. (MMLP)

Imperial Petroleum Inc. and Martin Midstream Partners L.P. are both Oil & Gas Midstream companies. Imperial Petroleum Inc. is the larger, with a market value of $197.1M against $77.1M — 2.6× the size. Martin Midstream Partners L.P. has negative trailing earnings, so its P/E is not meaningful; Imperial Petroleum Inc. trades at 2.1×. Imperial Petroleum Inc. grew revenue faster over the last twelve months: 89.0% against 13.2%. Imperial Petroleum Inc. has the higher net margin (36.8% vs −1.35%) and the higher return on invested capital (15.3% vs 8.21%). Across the 17 metrics below, Imperial Petroleum Inc. leads on 14 and Martin Midstream Partners L.P. on 3.

Valuation

Metric IMPP MMLP Oil & Gas Midstream median
P/E 2.14 n/m 11.68
P/S 0.81 0.10 2.39
P/B 0.33 n/m 1.68
Price to free cash flow 1.70 n/m 8.52
EV/EBITDA n/m 5.17 9.03
EV/Sales (0.02) 0.69 3.43
Earnings yield 46.76% (13.89%) 7.78%
Free cash flow yield 58.66% (16.15%) 7.11%

Profitability

Metric IMPP MMLP Oil & Gas Midstream median
Gross margin 50.32% 50.59% 54.87%
Operating margin 34.73% 6.22% 34.73%
Net margin 36.75% (1.35%) 20.12%
Free cash flow margin 48.33% (1.55%) 14.43%
Return on equity 17.19% 13.65% 11.73%
Return on assets 14.31% (2.03%) 4.43%
Return on invested capital 15.34% 8.21% 6.10%

Growth

Metric IMPP MMLP Oil & Gas Midstream median
Revenue growth (TTM) 89.03% 13.17% 14.88%
EPS growth (last fiscal year) (7.86%) (184.62%) (7.78%)
Revenue growth, 5-year CAGR 51.31% 1.28% 10.05%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IMPP MMLP Oil & Gas Midstream median
Debt to equity 0.00 (5.04) 0.77
Current ratio 4.77 1.35 1.19
Net debt to EBITDA (2.72) 4.09 3.46

Dividend

Metric IMPP MMLP Oil & Gas Midstream median
Dividend yield — 1.26% 4.94%
Payout ratio — — 0.73

Size

Metric IMPP MMLP Oil & Gas Midstream median
Market cap 197.08m 77.08m 3.56b

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