Nordic American Tankers Limited (NAT) vs Teekay Corporation Ltd. (TK)

Nordic American Tankers Limited and Teekay Corporation Ltd. are both Oil & Gas Midstream companies. Nordic American Tankers Limited is the larger, with a market value of $1.7B against $1.2B — 1.3× the size. Teekay Corporation Ltd. trades at the lower P/E: 9.6× against 13.0×. Nordic American Tankers Limited grew revenue faster over the last twelve months: 28.7% against −16.7%. Nordic American Tankers Limited has the higher net margin (31.9% vs 11.0%) and the higher return on invested capital (13.3% vs 0.00%). Only Nordic American Tankers Limited pays a dividend (10.3%). Across the 22 metrics below, Teekay Corporation Ltd. leads on 14 and Nordic American Tankers Limited on 8.

Valuation

Metric NAT TK Oil & Gas Midstream median
P/E 12.98 9.63 12.77
P/S 4.19 1.05 2.36
P/B 3.64 0.53 2.09
Price to free cash flow 7.78 1.41 9.71
EV/EBITDA 11.87 0.31 8.30
EV/Sales 4.89 0.12 3.88
Earnings yield 7.70% 10.38% 7.15%
Free cash flow yield 12.85% 71.07% 6.86%

Profitability

Metric NAT TK Oil & Gas Midstream median
Gross margin 55.22% 39.94% 56.58%
Operating margin 41.19% 29.93% 34.18%
Net margin 31.86% 10.96% 22.50%
Free cash flow margin 53.77% 0.00% 13.70%
Return on equity 0.00% 0.00% 14.65%
Return on assets 13.17% 0.00% 5.00%
Return on invested capital 13.29% 0.00% 6.13%

Growth

Metric NAT TK Oil & Gas Midstream median
Revenue growth (TTM) 28.69% (16.70%) 15.60%
EPS growth (last fiscal year) (72.73%) (19.72%) (7.86%)
Revenue growth, 5-year CAGR (3.78%) (3.70%) 9.59%
Net income growth, 5-year CAGR (24.50%) 0.00% 0.00%

Health

Metric NAT TK Oil & Gas Midstream median
Debt to equity 0.85 0.00 0.78
Current ratio 3.27 10.36 1.19
Net debt to EBITDA 3.61 (2.50) 3.42

Dividend

Metric NAT TK Oil & Gas Midstream median
Dividend yield 10.31% 0.00% 4.54%
Payout ratio 1.34 — 0.76

Size

Metric NAT TK Oil & Gas Midstream median
Market cap 1.66b 1.23b 3.73b

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