Nordic American Tankers Limited (NAT) vs Tsakos Energy Navigation Ltd (TEN)

Nordic American Tankers Limited and Tsakos Energy Navigation Ltd are both Oil & Gas Midstream companies. Nordic American Tankers Limited and Tsakos Energy Navigation Ltd are of similar size ($1.4B and $1.3B). Tsakos Energy Navigation Ltd trades at the lower P/E: 4.5× against 11.2×. Nordic American Tankers Limited grew revenue faster over the last twelve months: 28.7% against 23.2%. Nordic American Tankers Limited has the higher net margin (31.9% vs 30.8%) and the higher return on invested capital (13.3% vs 7.05%). Across the 21 metrics below, Tsakos Energy Navigation Ltd leads on 12 and Nordic American Tankers Limited on 9.

Valuation

Metric NAT TEN Oil & Gas Midstream median
P/E 11.19 4.50 11.68
P/S 3.61 1.39 2.39
P/B 3.14 0.65 1.68
Price to free cash flow 6.71 n/m 8.52
EV/EBITDA 10.47 7.11 9.03
EV/Sales 4.31 3.07 3.43
Earnings yield 8.94% 22.23% 7.78%
Free cash flow yield 14.91% (19.99%) 7.11%

Profitability

Metric NAT TEN Oil & Gas Midstream median
Gross margin 55.22% 61.58% 54.87%
Operating margin 41.19% 43.17% 34.73%
Net margin 31.86% 30.77% 20.12%
Free cash flow margin 53.77% (27.72%) 14.43%
Return on equity 0.00% 15.61% 11.73%
Return on assets 13.17% 7.25% 4.43%
Return on invested capital 13.29% 7.05% 6.10%

Growth

Metric NAT TEN Oil & Gas Midstream median
Revenue growth (TTM) 28.69% 23.23% 14.88%
EPS growth (last fiscal year) (72.73%) (11.53%) (7.78%)
Revenue growth, 5-year CAGR (3.78%) 4.40% 10.05%
Net income growth, 5-year CAGR (24.50%) 0.00% 0.00%

Health

Metric NAT TEN Oil & Gas Midstream median
Debt to equity 0.85 1.02 0.77
Current ratio 3.27 1.40 1.19
Net debt to EBITDA 3.61 3.89 3.46

Dividend

Metric NAT TEN Oil & Gas Midstream median
Dividend yield 11.97% — 4.94%
Payout ratio 1.34 — 0.73

Size

Metric NAT TEN Oil & Gas Midstream median
Market cap 1.38b 1.30b 3.56b

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