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 $232.2M against $87.3M — 2.7× the size. Martin Midstream Partners L.P. has negative trailing earnings, so its P/E is not meaningful; Imperial Petroleum Inc. trades at 2.5×. 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 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 2.51 n/m 13.19
P/S 0.95 0.11 2.60
P/B 0.39 n/m 2.08
Price to free cash flow 2.00 n/m 10.14
EV/EBITDA n/m 5.20 8.11
EV/Sales (0.02) 0.72 3.89
Earnings yield 39.92% (17.59%) 6.83%
Free cash flow yield 50.08% (5.19%) 6.94%

Profitability

Metric IMPP MMLP Oil & Gas Midstream median
Gross margin 50.32% 53.29% 58.81%
Operating margin 34.73% 6.30% 32.14%
Net margin 36.75% (2.02%) 21.16%
Free cash flow margin 48.33% (0.59%) 10.15%
Return on equity 17.19% 0.00% 11.30%
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% 15.44%
EPS growth (last fiscal year) (7.86%) (184.62%) —
Revenue growth, 5-year CAGR 51.31% 1.28% 8.96%
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 — 0.91% 7.29%
Payout ratio 0.00 — 0.64

Size

Metric IMPP MMLP Oil & Gas Midstream median
Market cap 232.21m 87.25m 3.61b

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