NGL Energy Partners LP (NGL) vs Permian Basin Royalty Trust (PBT)

NGL Energy Partners LP and Permian Basin Royalty Trust are both Oil & Gas Midstream companies. NGL Energy Partners LP is the larger, with a market value of $1.9B against $1.6B — 1.2× the size. NGL Energy Partners LP has negative trailing earnings, so its P/E is not meaningful; Permian Basin Royalty Trust trades at 96.4×. NGL Energy Partners LP grew revenue faster over the last twelve months: 5.76% against −3.71%. Permian Basin Royalty Trust has the higher net margin (92.0% vs −9.96%) and the lower return on invested capital (0.00% vs 2.94%). Across the 19 metrics below, NGL Energy Partners LP leads on 10 and Permian Basin Royalty Trust on 9.

Valuation

Metric NGL PBT Oil & Gas Midstream median
P/E n/m 96.37 13.19
P/S 0.53 89.22 2.60
P/B n/m n/m 2.08
Price to free cash flow 18.50 n/m 10.14
EV/EBITDA 12.63 97.32 8.11
EV/Sales 1.46 89.09 3.89
Earnings yield (18.81%) 1.04% 6.83%
Free cash flow yield 5.41% 0.00% 6.94%

Profitability

Metric NGL PBT Oil & Gas Midstream median
Gross margin 29.52% 100.00% 58.81%
Operating margin 4.05% 91.54% 32.14%
Net margin (9.96%) 91.96% 21.16%
Free cash flow margin 2.89% 0.00% 10.15%
Return on equity 88.77% 0.00% 11.30%
Return on assets (8.39%) 757.27% 5.00%
Return on invested capital 2.94% 0.00% 6.13%

Growth

Metric NGL PBT Oil & Gas Midstream median
Revenue growth (TTM) 5.76% (3.71%) 15.44%
EPS growth (last fiscal year) (431.67%) (43.64%) —
Revenue growth, 5-year CAGR (9.60%) 5.92% 8.96%
Net income growth, 5-year CAGR 0.00% 5.47% 0.00%

Health

Metric NGL PBT Oil & Gas Midstream median
Debt to equity (13.85) 0.00 0.78
Current ratio 1.14 1.00 1.19
Net debt to EBITDA 8.88 (0.12) 3.42

Dividend

Metric NGL PBT Oil & Gas Midstream median
Dividend yield — 4.49% 7.29%
Payout ratio — 1.00 0.64

Size

Metric NGL PBT Oil & Gas Midstream median
Market cap 1.92b 1.57b 3.61b

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack