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 ($1.7B and $1.5B). Tsakos Energy Navigation Ltd trades at the lower P/E: 5.2× against 13.0×. 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 12.98 5.17 12.77
P/S 4.19 1.60 2.36
P/B 3.64 0.75 2.09
Price to free cash flow 7.78 n/m 9.71
EV/EBITDA 11.87 7.60 8.30
EV/Sales 4.89 3.28 3.88
Earnings yield 7.70% 19.33% 7.15%
Free cash flow yield 12.85% (17.38%) 6.86%

Profitability

Metric NAT TEN Oil & Gas Midstream median
Gross margin 55.22% 61.58% 56.58%
Operating margin 41.19% 43.17% 34.18%
Net margin 31.86% 30.77% 22.50%
Free cash flow margin 53.77% (27.72%) 13.70%
Return on equity 0.00% 15.61% 14.65%
Return on assets 13.17% 7.25% 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% 15.60%
EPS growth (last fiscal year) (72.73%) (11.53%) (7.86%)
Revenue growth, 5-year CAGR (3.78%) 4.40% 9.59%
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 10.31% — 4.54%
Payout ratio 1.34 — 0.76

Size

Metric NAT TEN Oil & Gas Midstream median
Market cap 1.66b 1.52b 3.73b

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