Marine Petroleum Trust (MARPS) vs TOP Ships Inc. (TOPS)

Marine Petroleum Trust and TOP Ships Inc. are both Oil & Gas Midstream companies. Marine Petroleum Trust is the larger, with a market value of $8.9M against $3.4M — 2.6× the size. TOP Ships Inc. has negative trailing earnings, so its P/E is not meaningful; Marine Petroleum Trust trades at 12.8×. TOP Ships Inc. grew revenue faster over the last twelve months: 25.5% against −5.57%. Marine Petroleum Trust has the higher net margin (66.9% vs −1.48%) and the higher return on invested capital (0.00% vs 0.00%). Across the 19 metrics below, Marine Petroleum Trust leads on 13 and TOP Ships Inc. on 6.

Valuation

Metric MARPS TOPS Oil & Gas Midstream median
P/E 12.82 n/m 12.77
P/S 8.85 0.00 2.36
P/B 9.17 0.01 2.09
Price to free cash flow 13.22 n/m 9.71
EV/EBITDA 11.78 2.97 8.30
EV/Sales 7.88 1.64 3.88
Earnings yield 7.80% (26,713.33%) 7.15%
Free cash flow yield 7.57% (24,226.39%) 6.86%

Profitability

Metric MARPS TOPS Oil & Gas Midstream median
Gross margin 100.00% 57.93% 56.58%
Operating margin 66.92% 0.00% 34.18%
Net margin 66.92% (1.48%) 22.50%
Free cash flow margin 66.93% 0.00% 13.70%
Return on equity 68.60% 0.00% 14.65%
Return on assets 70.47% 0.00% 5.00%
Return on invested capital 0.00% 0.00% 6.13%

Growth

Metric MARPS TOPS Oil & Gas Midstream median
Revenue growth (TTM) (5.57%) 25.46% 15.60%
EPS growth (last fiscal year) (8.33%) (38.53%) (7.86%)
Revenue growth, 5-year CAGR 20.57% 5.95% 9.59%
Net income growth, 5-year CAGR 32.49% 0.00% 0.00%

Health

Metric MARPS TOPS Oil & Gas Midstream median
Debt to equity 0.00 3.40 0.78
Current ratio 0.00 0.48 1.19
Net debt to EBITDA (1.44) 3.72 3.42

Dividend

Metric MARPS TOPS Oil & Gas Midstream median
Dividend yield 7.86% — 4.54%
Payout ratio 1.01 — 0.76

Size

Metric MARPS TOPS Oil & Gas Midstream median
Market cap 8.86m 3.40m 3.73b

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