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 $544.1M against $197.1M — 2.8× the size. Summit Midstream Partners, LP 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 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 19 metrics below, Imperial Petroleum Inc. leads on 17 and Summit Midstream Partners, LP on 2.

Valuation

Metric IMPP SMC Oil & Gas Midstream median
P/E 2.14 n/m 11.68
P/S 0.81 0.63 2.39
P/B 0.33 0.43 1.68
Price to free cash flow 1.70 8.26 8.52
EV/EBITDA n/m 7.74 9.03
EV/Sales (0.02) 2.71 3.43
Earnings yield 46.76% (4.10%) 7.78%
Free cash flow yield 58.66% 12.11% 7.11%

Profitability

Metric IMPP SMC Oil & Gas Midstream median
Gross margin 50.32% 45.03% 54.87%
Operating margin 34.73% 15.10% 34.73%
Net margin 36.75% (2.29%) 20.12%
Free cash flow margin 48.33% 7.69% 14.43%
Return on equity 17.19% (1.57%) 11.73%
Return on assets 14.31% (0.55%) 4.43%
Return on invested capital 15.34% 2.59% 6.10%

Growth

Metric IMPP SMC Oil & Gas Midstream median
Revenue growth (TTM) 89.03% 20.94% 14.88%
EPS growth (last fiscal year) (7.86%) 87.40% (7.78%)
Revenue growth, 5-year CAGR 51.31% 7.95% 10.05%
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 0.77
Current ratio 4.77 0.94 1.19
Net debt to EBITDA (2.72) 5.27 3.46

Dividend

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

Size

Metric IMPP SMC Oil & Gas Midstream median
Market cap 197.08m 544.05m 3.56b

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