Martin Midstream Partners L.P. (MMLP) vs Pyxis Tankers Inc. (PXS)

Martin Midstream Partners L.P. and Pyxis Tankers Inc. are both Oil & Gas Midstream companies. Martin Midstream Partners L.P. and Pyxis Tankers Inc. are of similar size ($79.0M and $77.4M). Martin Midstream Partners L.P. has negative trailing earnings, so its P/E is not meaningful; Pyxis Tankers Inc. trades at 9.3×. Martin Midstream Partners L.P. grew revenue faster over the last twelve months: 4.01% against −5.01%. Pyxis Tankers Inc. has the higher net margin (20.0% vs −2.02%) and the lower return on invested capital (6.15% vs 8.06%). Across the 18 metrics below, Pyxis Tankers Inc. leads on 13 and Martin Midstream Partners L.P. on 5.

Valuation

Metric MMLP PXS Oil & Gas Midstream median
P/E n/m 9.26 12.77
P/S 0.11 1.81 2.36
P/B n/m 0.72 2.09
Price to free cash flow n/m 5.13 9.71
EV/EBITDA 5.16 4.72 8.30
EV/Sales 0.72 2.40 3.88
Earnings yield (18.54%) 10.80% 7.15%
Free cash flow yield (5.47%) 19.50% 6.86%

Profitability

Metric MMLP PXS Oil & Gas Midstream median
Gross margin 53.29% 61.64% 56.58%
Operating margin 6.30% 30.65% 34.18%
Net margin (2.02%) 20.00% 22.50%
Free cash flow margin (0.59%) 35.37% 13.70%
Return on equity 0.00% 8.26% 14.65%
Return on assets (2.83%) 4.43% 5.00%
Return on invested capital 8.06% 6.15% 6.13%

Growth

Metric MMLP PXS Oil & Gas Midstream median
Revenue growth (TTM) 4.01% (5.01%) 15.60%
EPS growth (last fiscal year) (184.62%) (79.12%) (7.86%)
Revenue growth, 5-year CAGR 1.28% 12.43% 9.59%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MMLP PXS Oil & Gas Midstream median
Debt to equity (5.03) 0.78 0.78
Current ratio 1.21 4.72 1.19
Net debt to EBITDA 4.09 2.31 3.42

Dividend

Metric MMLP PXS Oil & Gas Midstream median
Dividend yield 0.98% — 4.54%
Payout ratio — — 0.76

Size

Metric MMLP PXS Oil & Gas Midstream median
Market cap 79.03m 77.41m 3.73b

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