Navigator Holdings Ltd. (NVGS) vs Tsakos Energy Navigation Ltd (TEN)

Navigator Holdings Ltd. and Tsakos Energy Navigation Ltd are both Oil & Gas Midstream companies. Tsakos Energy Navigation Ltd is the larger, with a market value of $1.5B against $1.3B — 1.1× the size. Tsakos Energy Navigation Ltd trades at the lower P/E: 5.2× against 9.7×. Tsakos Energy Navigation Ltd grew revenue faster over the last twelve months: 23.2% against 8.39%. Tsakos Energy Navigation Ltd has the higher net margin (30.8% vs 22.8%) and the higher return on invested capital (7.05% vs 5.16%). Across the 20 metrics below, Tsakos Energy Navigation Ltd leads on 11 and Navigator Holdings Ltd. on 9.

Valuation

Metric NVGS TEN Oil & Gas Midstream median
P/E 9.74 5.17 12.77
P/S 2.14 1.60 2.36
P/B 1.03 0.75 2.09
Price to free cash flow 6.45 n/m 9.71
EV/EBITDA 6.75 7.60 8.30
EV/Sales 3.19 3.28 3.88
Earnings yield 10.27% 19.33% 7.15%
Free cash flow yield 15.49% (17.38%) 6.86%

Profitability

Metric NVGS TEN Oil & Gas Midstream median
Gross margin 54.61% 61.58% 56.58%
Operating margin 25.77% 43.17% 34.18%
Net margin 22.80% 30.77% 22.50%
Free cash flow margin 33.14% (27.72%) 13.70%
Return on equity 11.09% 15.61% 14.65%
Return on assets 5.96% 7.25% 5.00%
Return on invested capital 5.16% 7.05% 6.13%

Growth

Metric NVGS TEN Oil & Gas Midstream median
Revenue growth (TTM) 8.39% 23.23% 15.60%
EPS growth (last fiscal year) 23.53% (11.53%) (7.86%)
Revenue growth, 5-year CAGR 12.04% 4.40% 9.59%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric NVGS TEN Oil & Gas Midstream median
Debt to equity 0.72 1.02 0.78
Current ratio 1.71 1.40 1.19
Net debt to EBITDA 2.48 3.89 3.42

Dividend

Metric NVGS TEN Oil & Gas Midstream median
Dividend yield 1.31% — 4.54%
Payout ratio 0.13 — 0.76

Size

Metric NVGS TEN Oil & Gas Midstream median
Market cap 1.33b 1.52b 3.73b

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