Navigator Holdings Ltd. (NVGS) vs Permian Basin Royalty Trust (PBT)

Navigator Holdings Ltd. and Permian Basin Royalty Trust are both Oil & Gas Midstream companies. Permian Basin Royalty Trust is the larger, with a market value of $1.6B against $1.3B — 1.2× the size. Navigator Holdings Ltd. trades at the lower P/E: 9.7× against 94.7×. Navigator Holdings Ltd. grew revenue faster over the last twelve months: 8.39% against −3.71%. Permian Basin Royalty Trust has the higher net margin (92.0% vs 22.8%) and the lower return on invested capital (0.00% vs 5.16%). Both pay a dividend; Navigator Holdings Ltd. yields more (1.31% vs 0.91%). Across the 21 metrics below, Navigator Holdings Ltd. leads on 14 and Permian Basin Royalty Trust on 7.

Valuation

Metric NVGS PBT Oil & Gas Midstream median
P/E 9.74 94.69 12.77
P/S 2.14 87.66 2.36
P/B 1.03 n/m 2.09
Price to free cash flow 6.45 n/m 9.71
EV/EBITDA 6.75 95.62 8.30
EV/Sales 3.19 87.53 3.88
Earnings yield 10.27% 1.06% 7.15%
Free cash flow yield 15.49% 0.00% 6.86%

Profitability

Metric NVGS PBT Oil & Gas Midstream median
Gross margin 54.61% 100.00% 56.58%
Operating margin 25.77% 91.54% 34.18%
Net margin 22.80% 91.96% 22.50%
Free cash flow margin 33.14% 0.00% 13.70%
Return on equity 11.09% 0.00% 14.65%
Return on assets 5.96% 757.27% 5.00%
Return on invested capital 5.16% 0.00% 6.13%

Growth

Metric NVGS PBT Oil & Gas Midstream median
Revenue growth (TTM) 8.39% (3.71%) 15.60%
EPS growth (last fiscal year) 23.53% (43.64%) (7.86%)
Revenue growth, 5-year CAGR 12.04% 5.92% 9.59%
Net income growth, 5-year CAGR 0.00% 5.47% 0.00%

Health

Metric NVGS PBT Oil & Gas Midstream median
Debt to equity 0.72 0.00 0.78
Current ratio 1.71 1.00 1.19
Net debt to EBITDA 2.48 (0.12) 3.42

Dividend

Metric NVGS PBT Oil & Gas Midstream median
Dividend yield 1.31% 0.91% 4.54%
Payout ratio 0.13 0.86 0.76

Size

Metric NVGS PBT Oil & Gas Midstream median
Market cap 1.33b 1.57b 3.73b

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