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MPLX LP (MPLX) vs Targa Resources, Inc. (TRGP)

MPLX LP and Targa Resources, Inc. are both Oil & Gas Midstream companies. MPLX LP and Targa Resources, Inc. are of similar size ($58.3B and $57.3B). MPLX LP trades at the lower P/E: 13.2× against 24.1×. Targa Resources, Inc. grew revenue faster over the last twelve months: 4.67% against 3.11%. MPLX LP has the higher net margin (32.9% vs 0.00%) and the lower return on invested capital (8.76% vs 10.8%). Both pay a dividend; MPLX LP yields more (9.74% vs 1.74%). Across the 22 metrics below, MPLX LP leads on 16 and Targa Resources, Inc. on 6.

Valuation

Metric MPLX TRGP Oil & Gas Midstream median
P/E 13.21 24.11 11.68
P/S 4.35 3.22 2.39
P/B 4.02 14.79 1.68
Price to free cash flow 14.01 62.74 8.52
EV/EBITDA 11.76 13.40 9.03
EV/Sales 6.26 4.30 3.43
Earnings yield 7.57% 4.15% 7.78%
Free cash flow yield 7.14% 1.59% 7.11%

Profitability

Metric MPLX TRGP Oil & Gas Midstream median
Gross margin 57.55% 41.82% 54.87%
Operating margin 42.03% 22.51% 34.73%
Net margin 32.91% 0.00% 20.12%
Free cash flow margin 31.04% 5.13% 14.43%
Return on equity 30.16% 0.00% 11.73%
Return on assets 9.94% 0.00% 4.43%
Return on invested capital 8.76% 10.82% 6.10%

Growth

Metric MPLX TRGP Oil & Gas Midstream median
Revenue growth (TTM) 3.11% 4.67% 14.88%
EPS growth (last fiscal year) 14.49% 47.91% (7.78%)
Revenue growth, 5-year CAGR 11.42% 15.57% 10.05%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MPLX TRGP Oil & Gas Midstream median
Debt to equity 1.86 5.01 0.77
Current ratio 1.56 0.74 1.19
Net debt to EBITDA 3.21 3.55 3.46

Dividend

Metric MPLX TRGP Oil & Gas Midstream median
Dividend yield 9.74% 1.74% 4.94%
Payout ratio 1.29 0.42 0.73

Size

Metric MPLX TRGP Oil & Gas Midstream median
Market cap 57.29b 58.29b 3.56b

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