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 $1.4B against $960.2M — 1.4× the size. Nordic American Tankers Limited trades at the lower P/E: 11.2× against 13.6×. 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 (12.0% vs 6.77%). 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 11.19 13.58 11.68
P/S 3.61 12.86 2.39
P/B 3.14 n/m 1.68
Price to free cash flow 6.71 n/m 8.52
EV/EBITDA 10.47 13.45 9.03
EV/Sales 4.31 12.74 3.43
Earnings yield 8.94% 7.37% 7.78%
Free cash flow yield 14.91% 0.00% 7.11%

Profitability

Metric NAT SBR Oil & Gas Midstream median
Gross margin 55.22% 100.00% 54.87%
Operating margin 41.19% 94.71% 34.73%
Net margin 31.86% 94.71% 20.12%
Free cash flow margin 53.77% 0.00% 14.43%
Return on equity 0.00% 0.00% 11.73%
Return on assets 13.17% 806.27% 4.43%
Return on invested capital 13.29% 0.00% 6.10%

Growth

Metric NAT SBR Oil & Gas Midstream median
Revenue growth (TTM) 28.69% (2.95%) 14.88%
EPS growth (last fiscal year) (72.73%) (7.69%) (7.78%)
Revenue growth, 5-year CAGR (3.78%) 16.35% 10.05%
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 0.77
Current ratio 3.27 7.25 1.19
Net debt to EBITDA 3.61 (0.10) 3.46

Dividend

Metric NAT SBR Oil & Gas Midstream median
Dividend yield 11.97% 6.77% 4.94%
Payout ratio 1.34 0.92 0.73

Size

Metric NAT SBR Oil & Gas Midstream median
Market cap 1.38b 960.20m 3.56b

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