NGL Energy Partners LP (NGL) vs Tsakos Energy Navigation Ltd (TEN)

NGL Energy Partners LP and Tsakos Energy Navigation Ltd are both Oil & Gas Midstream companies. NGL Energy Partners LP is the larger, with a market value of $1.9B against $1.4B — 1.4× the size. NGL Energy Partners LP has negative trailing earnings, so its P/E is not meaningful; Tsakos Energy Navigation Ltd trades at 7.5×. Tsakos Energy Navigation Ltd grew revenue faster over the last twelve months: 23.2% against 5.76%. Tsakos Energy Navigation Ltd has the higher net margin (30.8% vs −9.96%) and the higher return on invested capital (7.05% vs 2.94%). Across the 18 metrics below, Tsakos Energy Navigation Ltd leads on 12 and NGL Energy Partners LP on 6.

Valuation

Metric NGL TEN Oil & Gas Midstream median
P/E n/m 7.53 13.19
P/S 0.53 1.44 2.60
P/B n/m 0.68 2.08
Price to free cash flow 18.50 n/m 10.14
EV/EBITDA 12.63 7.25 8.11
EV/Sales 1.46 3.13 3.89
Earnings yield (18.81%) 13.28% 6.83%
Free cash flow yield 5.41% (19.20%) 6.94%

Profitability

Metric NGL TEN Oil & Gas Midstream median
Gross margin 29.52% 61.58% 58.81%
Operating margin 4.05% 43.17% 32.14%
Net margin (9.96%) 30.77% 21.16%
Free cash flow margin 2.89% (27.72%) 10.15%
Return on equity 88.77% 15.61% 11.30%
Return on assets (8.39%) 7.22% 5.00%
Return on invested capital 2.94% 7.05% 6.13%

Growth

Metric NGL TEN Oil & Gas Midstream median
Revenue growth (TTM) 5.76% 23.23% 15.44%
EPS growth (last fiscal year) (431.67%) (11.53%) —
Revenue growth, 5-year CAGR (9.60%) 4.40% 8.96%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric NGL TEN Oil & Gas Midstream median
Debt to equity (13.85) 1.02 0.78
Current ratio 1.14 1.40 1.19
Net debt to EBITDA 8.88 3.89 3.42

Dividend

Metric NGL TEN Oil & Gas Midstream median
Dividend yield — 4.18% 7.29%
Payout ratio — 0.05 0.64

Size

Metric NGL TEN Oil & Gas Midstream median
Market cap 1.92b 1.38b 3.61b

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