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

Navigator Holdings Ltd. and Tsakos Energy Navigation Ltd are both Oil & Gas Midstream companies. Navigator Holdings Ltd. and Tsakos Energy Navigation Ltd are of similar size ($1.3B and $1.2B). Tsakos Energy Navigation Ltd trades at the lower P/E: 4.5× against 6.6×. Tsakos Energy Navigation Ltd grew revenue faster over the last twelve months: 23.2% against 6.62%. Tsakos Energy Navigation Ltd has the higher net margin (30.8% vs 30.1%) and the higher return on invested capital (7.05% vs 5.28%). 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 6.55 4.50 11.68
P/S 1.95 1.39 2.39
P/B 0.90 0.65 1.68
Price to free cash flow 3.73 n/m 8.52
EV/EBITDA 5.98 7.11 9.03
EV/Sales 2.75 3.07 3.43
Earnings yield 15.26% 22.23% 7.78%
Free cash flow yield 26.80% (19.99%) 7.11%

Profitability

Metric NVGS TEN Oil & Gas Midstream median
Gross margin 53.38% 61.58% 54.87%
Operating margin 25.02% 43.17% 34.73%
Net margin 30.06% 30.77% 20.12%
Free cash flow margin 52.18% (27.72%) 14.43%
Return on equity 14.27% 15.61% 11.73%
Return on assets 8.17% 7.25% 4.43%
Return on invested capital 5.28% 7.05% 6.10%

Growth

Metric NVGS TEN Oil & Gas Midstream median
Revenue growth (TTM) 6.62% 23.23% 14.88%
EPS growth (last fiscal year) 23.53% (11.53%) (7.78%)
Revenue growth, 5-year CAGR 12.04% 4.40% 10.05%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric NVGS TEN Oil & Gas Midstream median
Debt to equity 0.57 1.02 0.77
Current ratio 1.38 1.40 1.19
Net debt to EBITDA 2.48 3.89 3.46

Dividend

Metric NVGS TEN Oil & Gas Midstream median
Dividend yield 1.43% — 4.94%
Payout ratio 0.09 — 0.73

Size

Metric NVGS TEN Oil & Gas Midstream median
Market cap 1.19b 1.30b 3.56b

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