ONE Gas, Inc. (OGS) vs Suburban Propane Partners, L.P. (SPH)

ONE Gas, Inc. and Suburban Propane Partners, L.P. are both Utilities Regulated Gas companies. ONE Gas, Inc. is the larger, with a market value of $4.6B against $1.1B — 4.0× the size. Suburban Propane Partners, L.P. trades at the lower P/E: 8.7× against 15.6×. ONE Gas, Inc. grew revenue faster over the last twelve months: −0.78% against −2.48%. ONE Gas, Inc. has the higher net margin (12.5% vs 9.37%) and the lower return on invested capital (4.87% vs 6.83%). Both pay a dividend; Suburban Propane Partners, L.P. yields more (7.61% vs 3.74%). Across the 22 metrics below, Suburban Propane Partners, L.P. leads on 15 and ONE Gas, Inc. on 7.

Valuation

Metric OGS SPH Utilities Regulated Gas median
P/E 15.56 8.68 16.06
P/S 1.97 0.82 2.12
P/B 1.29 1.60 1.53
Price to free cash flow n/m 10.89 —
EV/EBITDA 9.10 8.44 11.73
EV/Sales 3.10 1.69 3.56
Earnings yield 6.43% 11.53% 6.16%
Free cash flow yield (3.79%) 9.18% (5.29%)

Profitability

Metric OGS SPH Utilities Regulated Gas median
Gross margin 63.13% 63.14% 63.14%
Operating margin 20.65% 15.13% 21.47%
Net margin 12.47% 9.37% 13.00%
Free cash flow margin (7.48%) 7.51% (13.27%)
Return on equity 8.58% 19.23% 9.47%
Return on assets 3.36% 5.59% 3.80%
Return on invested capital 4.87% 6.83% 4.29%

Growth

Metric OGS SPH Utilities Regulated Gas median
Revenue growth (TTM) (0.78%) (2.48%) 6.36%
EPS growth (last fiscal year) 11.76% 42.11% 14.04%
Revenue growth, 5-year CAGR 9.67% 5.27% 6.36%
Net income growth, 5-year CAGR 6.11% 11.89% 8.10%

Health

Metric OGS SPH Utilities Regulated Gas median
Debt to equity 0.74 1.72 1.22
Current ratio 0.48 0.78 0.78
Net debt to EBITDA 3.36 4.35 4.68

Dividend

Metric OGS SPH Utilities Regulated Gas median
Dividend yield 3.74% 7.61% 3.74%
Payout ratio 0.58 0.66 0.58

Size

Metric OGS SPH Utilities Regulated Gas median
Market cap 4.55b 1.14b 4.55b

Compare with another peer

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