LandBridge Company LLC (LB) vs Tenaris S.A. (TS)

LandBridge Company LLC and Tenaris S.A. are both Oil & Gas Equipment & Services companies. Tenaris S.A. is the larger, with a market value of $30.0B against $6.4B — 4.7× the size. Tenaris S.A. trades at the lower P/E: 14.8× against 60.7×. LandBridge Company LLC grew revenue faster over the last twelve months: 44.1% against 2.31%. LandBridge Company LLC has the higher net margin (16.5% vs 15.9%) and the lower return on invested capital (6.51% vs 9.46%). Across the 20 metrics below, Tenaris S.A. leads on 11 and LandBridge Company LLC on 9.

Valuation

Metric LB TS Oil & Gas Equipment & Services median
P/E 60.73 14.83 24.78
P/S 10.09 2.33 1.28
P/B 2.74 1.63 1.85
Price to free cash flow 15.03 16.49 15.03
EV/EBITDA 17.80 8.93 8.93
EV/Sales 12.29 2.12 1.40
Earnings yield 1.65% 6.74% 3.12%
Free cash flow yield 6.65% 6.07% 5.01%

Profitability

Metric LB TS Oil & Gas Equipment & Services median
Gross margin 98.84% 33.90% 23.27%
Operating margin 61.34% 18.51% 9.34%
Net margin 16.48% 15.88% 4.69%
Free cash flow margin 67.16% 14.11% 5.05%
Return on equity 4.90% 11.24% 4.92%
Return on assets 3.04% 9.39% 2.37%
Return on invested capital 6.51% 9.46% 4.32%

Growth

Metric LB TS Oil & Gas Equipment & Services median
Revenue growth (TTM) 44.09% 2.31% 6.08%
EPS growth (last fiscal year) 266.28% 1.39% —
Revenue growth, 5-year CAGR — 18.41% 10.60%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric LB TS Oil & Gas Equipment & Services median
Debt to equity 0.64 0.02 0.46
Current ratio 7.27 4.07 2.11
Net debt to EBITDA 4.01 (0.89) 0.76

Dividend

Metric LB TS Oil & Gas Equipment & Services median
Dividend yield — 3.64% 2.12%
Payout ratio — 0.16 0.00

Size

Metric LB TS Oil & Gas Equipment & Services median
Market cap 6.36b 29.95b 1.81b

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