Martin Midstream Partners L.P. (MMLP) vs Robin Energy Ltd. (RBNE)

Martin Midstream Partners L.P. and Robin Energy Ltd. are both Oil & Gas Midstream companies. Martin Midstream Partners L.P. is the larger, with a market value of $79.0M against $2.6M — 30.6× the size. Martin Midstream Partners L.P. has negative trailing earnings, so its P/E is not meaningful; Robin Energy Ltd. trades at 0.1×. Robin Energy Ltd. has the higher net margin (35.9% vs −2.02%) and the higher return on invested capital (42.7% vs 8.06%). Across the 15 metrics below, Robin Energy Ltd. leads on 11 and Martin Midstream Partners L.P. on 4.

Valuation

Metric MMLP RBNE Oil & Gas Midstream median
P/E n/m 0.08 12.77
P/S 0.11 0.03 2.36
P/B n/m 0.01 2.09
Price to free cash flow n/m n/m 9.71
EV/EBITDA 5.16 n/m 8.30
EV/Sales 0.72 (2.66) 3.88
Earnings yield (18.54%) 1,276.99% 7.15%
Free cash flow yield (5.47%) (6,210.75%) 6.86%

Profitability

Metric MMLP RBNE Oil & Gas Midstream median
Gross margin 53.29% 54.90% 56.58%
Operating margin 6.30% 53.19% 34.18%
Net margin (2.02%) 35.85% 22.50%
Free cash flow margin (0.59%) (167.93%) 13.70%
Return on equity 0.00% 14.65% 14.65%
Return on assets (2.83%) 8.04% 5.00%
Return on invested capital 8.06% 42.67% 6.13%

Growth

Metric MMLP RBNE Oil & Gas Midstream median
Revenue growth (TTM) 4.01% — 15.60%
EPS growth (last fiscal year) (184.62%) (242.96%) (7.86%)
Revenue growth, 5-year CAGR 1.28% — 9.59%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric MMLP RBNE Oil & Gas Midstream median
Debt to equity (5.03) 0.00 0.78
Current ratio 1.21 13.18 1.19
Net debt to EBITDA 4.09 (3.34) 3.42

Dividend

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

Size

Metric MMLP RBNE Oil & Gas Midstream median
Market cap 79.03m 2.58m 3.73b

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