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 $222.2M against $79.0M — 2.8× the size. Martin Midstream Partners L.P. has negative trailing earnings, so its P/E is not meaningful; Imperial Petroleum Inc. trades at 2.4×. Imperial Petroleum Inc. grew revenue faster over the last twelve months: 89.0% against 4.01%. Imperial Petroleum Inc. has the higher net margin (36.8% vs −2.02%) and the higher return on invested capital (15.3% vs 8.06%). Across the 18 metrics below, Imperial Petroleum Inc. leads on 15 and Martin Midstream Partners L.P. on 3.

Valuation

Metric IMPP MMLP Oil & Gas Midstream median
P/E 2.40 n/m 12.77
P/S 0.91 0.11 2.36
P/B 0.37 n/m 2.09
Price to free cash flow 1.91 n/m 9.71
EV/EBITDA 0.17 5.16 8.30
EV/Sales 0.08 0.72 3.88
Earnings yield 41.74% (18.54%) 7.15%
Free cash flow yield 52.36% (5.47%) 6.86%

Profitability

Metric IMPP MMLP Oil & Gas Midstream median
Gross margin 50.32% 53.29% 56.58%
Operating margin 34.73% 6.30% 34.18%
Net margin 36.75% (2.02%) 22.50%
Free cash flow margin 48.33% (0.59%) 13.70%
Return on equity 17.19% 0.00% 14.65%
Return on assets 14.31% (2.83%) 5.00%
Return on invested capital 15.34% 8.06% 6.13%

Growth

Metric IMPP MMLP Oil & Gas Midstream median
Revenue growth (TTM) 89.03% 4.01% 15.60%
EPS growth (last fiscal year) (7.86%) (184.62%) (7.86%)
Revenue growth, 5-year CAGR 51.31% 1.28% 9.59%
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 (5.03) 0.78
Current ratio 4.77 1.21 1.19
Net debt to EBITDA (2.72) 4.09 3.42

Dividend

Metric IMPP MMLP Oil & Gas Midstream median
Dividend yield — 0.98% 4.54%
Payout ratio — — 0.76

Size

Metric IMPP MMLP Oil & Gas Midstream median
Market cap 222.17m 79.03m 3.73b

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