Nordic American Tankers Limited (NAT) vs NGL Energy Partners LP (NGL)

Nordic American Tankers Limited and NGL Energy Partners LP are both Oil & Gas Midstream companies. NGL Energy Partners LP is the larger, with a market value of $1.9B against $1.6B — 1.2× the size. NGL Energy Partners LP has negative trailing earnings, so its P/E is not meaningful; Nordic American Tankers Limited trades at 13.1×. Nordic American Tankers Limited grew revenue faster over the last twelve months: 28.7% against 5.76%. Nordic American Tankers Limited has the higher net margin (31.9% vs −9.96%) and the higher return on invested capital (13.3% vs 2.94%). Across the 20 metrics below, Nordic American Tankers Limited leads on 15 and NGL Energy Partners LP on 5.

Valuation

Metric NAT NGL Oil & Gas Midstream median
P/E 13.14 n/m 13.19
P/S 4.23 0.53 2.60
P/B 3.68 n/m 2.08
Price to free cash flow 7.87 18.50 10.14
EV/EBITDA 11.99 12.63 8.11
EV/Sales 4.94 1.46 3.89
Earnings yield 7.61% (18.81%) 6.83%
Free cash flow yield 12.70% 5.41% 6.94%

Profitability

Metric NAT NGL Oil & Gas Midstream median
Gross margin 55.22% 29.52% 58.81%
Operating margin 41.19% 4.05% 32.14%
Net margin 31.86% (9.96%) 21.16%
Free cash flow margin 53.77% 2.89% 10.15%
Return on equity 0.00% 88.77% 11.30%
Return on assets 13.17% (8.39%) 5.00%
Return on invested capital 13.29% 2.94% 6.13%

Growth

Metric NAT NGL Oil & Gas Midstream median
Revenue growth (TTM) 28.69% 5.76% 15.44%
EPS growth (last fiscal year) (72.73%) (431.67%) —
Revenue growth, 5-year CAGR (3.78%) (9.60%) 8.96%
Net income growth, 5-year CAGR (24.50%) 0.00% 0.00%

Health

Metric NAT NGL Oil & Gas Midstream median
Debt to equity 0.85 (13.85) 0.78
Current ratio 3.27 1.14 1.19
Net debt to EBITDA 3.61 8.88 3.42

Dividend

Metric NAT NGL Oil & Gas Midstream median
Dividend yield 10.13% — 7.29%
Payout ratio 0.66 — 0.64

Size

Metric NAT NGL Oil & Gas Midstream median
Market cap 1.62b 1.92b 3.61b

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