MPLX LP (MPLX) vs TC Energy Corporation (TRP)

MPLX LP and TC Energy Corporation are both Oil & Gas Midstream companies. MPLX LP and TC Energy Corporation are of similar size ($62.2B and $57.9B). MPLX LP trades at the lower P/E: 12.5× against 25.6×. TC Energy Corporation grew revenue faster over the last twelve months: 24.0% against 8.71%. MPLX LP has the higher net margin (35.8% vs 22.2%) and the higher return on invested capital (9.45% vs 5.39%). Both pay a dividend; MPLX LP yields more (7.40% vs 4.05%). Across the 23 metrics below, MPLX LP leads on 18 and TC Energy Corporation on 5.

Valuation

Metric MPLX TRP Oil & Gas Midstream median
P/E 12.51 25.62 12.77
P/S 4.47 5.67 2.36
P/B 4.14 2.53 2.09
Price to free cash flow 13.68 21.97 9.71
EV/EBITDA 11.41 13.23 8.30
EV/Sales 6.33 9.54 3.88
Earnings yield 8.00% 3.90% 7.15%
Free cash flow yield 7.31% 4.55% 6.86%

Profitability

Metric MPLX TRP Oil & Gas Midstream median
Gross margin 59.69% 70.44% 56.58%
Operating margin 44.44% 53.94% 34.18%
Net margin 35.75% 22.19% 22.50%
Free cash flow margin 32.63% 25.80% 13.70%
Return on equity 33.41% 9.94% 14.65%
Return on assets 11.70% 2.89% 5.00%
Return on invested capital 9.45% 5.39% 6.13%

Growth

Metric MPLX TRP Oil & Gas Midstream median
Revenue growth (TTM) 8.71% 24.04% 15.60%
EPS growth (last fiscal year) 14.49% (27.55%) (7.86%)
Revenue growth, 5-year CAGR 11.42% 2.36% 9.59%
Net income growth, 5-year CAGR 0.00% (6.06%) 0.00%

Health

Metric MPLX TRP Oil & Gas Midstream median
Debt to equity 1.80 1.68 0.78
Current ratio 0.89 0.61 1.19
Net debt to EBITDA 3.21 5.43 3.42

Dividend

Metric MPLX TRP Oil & Gas Midstream median
Dividend yield 7.40% 4.05% 4.54%
Payout ratio 0.93 1.04 0.76

Size

Metric MPLX TRP Oil & Gas Midstream median
Market cap 57.91b 62.17b 3.73b

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