Nordic American Tankers Limited (NAT) vs Sabine Royalty Trust (SBR)

Nordic American Tankers Limited and Sabine Royalty Trust are both Oil & Gas Midstream companies. Nordic American Tankers Limited is the larger, with a market value of $1.6B against $1.1B — 1.5× the size. Nordic American Tankers Limited trades at the lower P/E: 13.1× against 14.7×. Nordic American Tankers Limited grew revenue faster over the last twelve months: 28.7% against −2.95%. Sabine Royalty Trust has the higher net margin (94.7% vs 31.9%) and the lower return on invested capital (0.00% vs 13.3%). Both pay a dividend; Nordic American Tankers Limited yields more (10.1% vs 9.97%). Across the 20 metrics below, Nordic American Tankers Limited leads on 10 and Sabine Royalty Trust on 10.

Valuation

Metric NAT SBR Oil & Gas Midstream median
P/E 13.14 14.65 13.19
P/S 4.23 13.88 2.60
P/B 3.68 n/m 2.08
Price to free cash flow 7.87 n/m 10.14
EV/EBITDA 11.99 14.52 8.11
EV/Sales 4.94 13.75 3.89
Earnings yield 7.61% 6.83% 6.83%
Free cash flow yield 12.70% 0.00% 6.94%

Profitability

Metric NAT SBR Oil & Gas Midstream median
Gross margin 55.22% 100.00% 58.81%
Operating margin 41.19% 94.71% 32.14%
Net margin 31.86% 94.71% 21.16%
Free cash flow margin 53.77% 0.00% 10.15%
Return on equity 0.00% 0.00% 11.30%
Return on assets 13.17% 806.27% 5.00%
Return on invested capital 13.29% 0.00% 6.13%

Growth

Metric NAT SBR Oil & Gas Midstream median
Revenue growth (TTM) 28.69% (2.95%) 15.44%
EPS growth (last fiscal year) (72.73%) (7.69%) —
Revenue growth, 5-year CAGR (3.78%) 16.35% 8.96%
Net income growth, 5-year CAGR (24.50%) 17.13% 0.00%

Health

Metric NAT SBR Oil & Gas Midstream median
Debt to equity 0.85 0.00 0.78
Current ratio 3.27 7.25 1.19
Net debt to EBITDA 3.61 (0.10) 3.42

Dividend

Metric NAT SBR Oil & Gas Midstream median
Dividend yield 10.13% 9.97% 7.29%
Payout ratio 0.66 1.00 0.64

Size

Metric NAT SBR Oil & Gas Midstream median
Market cap 1.62b 1.06b 3.61b

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