Imperial Petroleum Inc. (IMPP) vs Summit Midstream Partners, LP (SMC)

Imperial Petroleum Inc. and Summit Midstream Partners, LP are both Oil & Gas Midstream companies. Summit Midstream Partners, LP is the larger, with a market value of $608.8M against $222.2M — 2.7× the size. Summit Midstream Partners, LP 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 20.9%. Imperial Petroleum Inc. has the higher net margin (36.8% vs −2.29%) and the higher return on invested capital (15.3% vs 2.59%). Across the 20 metrics below, Imperial Petroleum Inc. leads on 18 and Summit Midstream Partners, LP on 2.

Valuation

Metric IMPP SMC Oil & Gas Midstream median
P/E 2.40 n/m 12.77
P/S 0.91 0.73 2.36
P/B 0.37 0.50 2.09
Price to free cash flow 1.91 9.46 9.71
EV/EBITDA 0.17 8.00 8.30
EV/Sales 0.08 2.80 3.88
Earnings yield 41.74% (3.58%) 7.15%
Free cash flow yield 52.36% 10.58% 6.86%

Profitability

Metric IMPP SMC Oil & Gas Midstream median
Gross margin 50.32% 45.03% 56.58%
Operating margin 34.73% 15.10% 34.18%
Net margin 36.75% (2.29%) 22.50%
Free cash flow margin 48.33% 7.69% 13.70%
Return on equity 17.19% (1.57%) 14.65%
Return on assets 14.31% (0.55%) 5.00%
Return on invested capital 15.34% 2.59% 6.13%

Growth

Metric IMPP SMC Oil & Gas Midstream median
Revenue growth (TTM) 89.03% 20.94% 15.60%
EPS growth (last fiscal year) (7.86%) 87.40% (7.86%)
Revenue growth, 5-year CAGR 51.31% 7.95% 9.59%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IMPP SMC Oil & Gas Midstream median
Debt to equity 0.00 1.35 0.78
Current ratio 4.77 0.94 1.19
Net debt to EBITDA (2.72) 5.27 3.42

Dividend

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

Size

Metric IMPP SMC Oil & Gas Midstream median
Market cap 222.17m 608.84m 3.73b

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