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 is the larger, with a market value of $1.6B against $1.4B — 1.2× the size. Tsakos Energy Navigation Ltd trades at the lower P/E: 7.5× against 13.1×. 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%). Both pay a dividend; Nordic American Tankers Limited yields more (10.1% vs 4.18%). Across the 22 metrics below, Tsakos Energy Navigation Ltd leads on 12 and Nordic American Tankers Limited on 10.

Valuation

Metric NAT TEN Oil & Gas Midstream median
P/E 13.14 7.53 13.19
P/S 4.23 1.44 2.60
P/B 3.68 0.68 2.08
Price to free cash flow 7.87 n/m 10.14
EV/EBITDA 11.99 7.25 8.11
EV/Sales 4.94 3.13 3.89
Earnings yield 7.61% 13.28% 6.83%
Free cash flow yield 12.70% (19.20%) 6.94%

Profitability

Metric NAT TEN Oil & Gas Midstream median
Gross margin 55.22% 61.58% 58.81%
Operating margin 41.19% 43.17% 32.14%
Net margin 31.86% 30.77% 21.16%
Free cash flow margin 53.77% (27.72%) 10.15%
Return on equity 0.00% 15.61% 11.30%
Return on assets 13.17% 7.22% 5.00%
Return on invested capital 13.29% 7.05% 6.13%

Growth

Metric NAT TEN Oil & Gas Midstream median
Revenue growth (TTM) 28.69% 23.23% 15.44%
EPS growth (last fiscal year) (72.73%) (11.53%) —
Revenue growth, 5-year CAGR (3.78%) 4.40% 8.96%
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 0.78
Current ratio 3.27 1.40 1.19
Net debt to EBITDA 3.61 3.89 3.42

Dividend

Metric NAT TEN Oil & Gas Midstream median
Dividend yield 10.13% 4.18% 7.29%
Payout ratio 0.66 0.05 0.64

Size

Metric NAT TEN Oil & Gas Midstream median
Market cap 1.62b 1.38b 3.61b

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