Martin Midstream Partners L.P. (MMLP) vs TOP Ships Inc. (TOPS)

Martin Midstream Partners L.P. and TOP Ships Inc. are both Oil & Gas Midstream companies. Martin Midstream Partners L.P. is the larger, with a market value of $79.0M against $3.4M — 23.2× the size. TOP Ships Inc. grew revenue faster over the last twelve months: 25.5% against 4.01%. TOP Ships Inc. has the higher net margin (−1.48% vs −2.02%) and the lower return on invested capital (0.00% vs 8.06%). Across the 17 metrics below, TOP Ships Inc. leads on 10 and Martin Midstream Partners L.P. on 7.

Valuation

Metric MMLP TOPS Oil & Gas Midstream median
P/E n/m n/m 12.77
P/S 0.11 0.00 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 2.97 8.30
EV/Sales 0.72 1.64 3.88
Earnings yield (18.54%) (26,713.33%) 7.15%
Free cash flow yield (5.47%) (24,226.39%) 6.86%

Profitability

Metric MMLP TOPS Oil & Gas Midstream median
Gross margin 53.29% 57.93% 56.58%
Operating margin 6.30% 0.00% 34.18%
Net margin (2.02%) (1.48%) 22.50%
Free cash flow margin (0.59%) 0.00% 13.70%
Return on equity 0.00% 0.00% 14.65%
Return on assets (2.83%) 0.00% 5.00%
Return on invested capital 8.06% 0.00% 6.13%

Growth

Metric MMLP TOPS Oil & Gas Midstream median
Revenue growth (TTM) 4.01% 25.46% 15.60%
EPS growth (last fiscal year) (184.62%) (38.53%) (7.86%)
Revenue growth, 5-year CAGR 1.28% 5.95% 9.59%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MMLP TOPS Oil & Gas Midstream median
Debt to equity (5.03) 3.40 0.78
Current ratio 1.21 0.48 1.19
Net debt to EBITDA 4.09 3.72 3.42

Dividend

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

Size

Metric MMLP TOPS Oil & Gas Midstream median
Market cap 79.03m 3.40m 3.73b

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