KNOT Offshore Partners LP (KNOP) vs Teekay Corporation Ltd. (TK)

KNOT Offshore Partners LP and Teekay Corporation Ltd. are both Oil & Gas Midstream companies. Teekay Corporation Ltd. is the larger, with a market value of $1.1B against $296.1M — 3.7× the size. Teekay Corporation Ltd. trades at the lower P/E: 8.7× against 21.4×. KNOT Offshore Partners LP grew revenue faster over the last twelve months: 12.9% against −16.7%. Teekay Corporation Ltd. has the higher net margin (11.0% vs 3.46%) and the lower return on invested capital (0.00% vs 3.03%). Only KNOT Offshore Partners LP pays a dividend (2.93%). Across the 23 metrics below, Teekay Corporation Ltd. leads on 13 and KNOT Offshore Partners LP on 10.

Valuation

Metric KNOP TK Oil & Gas Midstream median
P/E 21.41 8.66 11.80
P/S 0.77 0.95 2.38
P/B 0.55 0.47 1.65
Price to free cash flow 1.93 1.27 7.76
EV/EBITDA 5.31 0.03 7.88
EV/Sales 2.89 0.01 3.36
Earnings yield 4.67% 11.54% 7.98%
Free cash flow yield 51.93% 78.99% 7.23%

Profitability

Metric KNOP TK Oil & Gas Midstream median
Gross margin 63.67% 39.94% 55.22%
Operating margin 18.13% 29.93% 35.83%
Net margin 3.46% 10.96% 20.12%
Free cash flow margin 40.24% 0.00% 14.43%
Return on equity 2.46% 0.00% 14.03%
Return on assets 0.81% 0.00% 4.62%
Return on invested capital 3.03% 0.00% 6.10%

Growth

Metric KNOP TK Oil & Gas Midstream median
Revenue growth (TTM) 12.85% (16.70%) 15.70%
EPS growth (last fiscal year) 128.57% (19.72%) (7.78%)
Revenue growth, 5-year CAGR 5.47% (3.70%) 10.05%
Net income growth, 5-year CAGR (22.27%) 0.00% 0.00%

Health

Metric KNOP TK Oil & Gas Midstream median
Debt to equity 1.45 0.00 0.77
Current ratio 0.34 10.36 1.16
Net debt to EBITDA 4.37 (2.50) 3.46

Dividend

Metric KNOP TK Oil & Gas Midstream median
Dividend yield 2.93% 0.00% 5.03%
Payout ratio 0.63 — 0.73

Size

Metric KNOP TK Oil & Gas Midstream median
Market cap 296.12m 1.11b 3.30b

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