Plains Group Holdings, L.P. (PAGP) vs Venture Global, Inc. (VG)

Plains Group Holdings, L.P. and Venture Global, Inc. are both Oil & Gas Midstream companies. Venture Global, Inc. is the larger, with a market value of $32.6B against $20.3B — 1.6× the size. Venture Global, Inc. trades at the lower P/E: 9.3× against 9.5×. Venture Global, Inc. grew revenue faster over the last twelve months: 100.7% against 13.1%. Venture Global, Inc. has the higher net margin (19.7% vs 1.06%) and the higher return on invested capital (7.86% vs 4.51%). Across the 19 metrics below, Venture Global, Inc. leads on 10 and Plains Group Holdings, L.P. on 9.

Valuation

Metric PAGP VG Oil & Gas Midstream median
P/E 9.47 9.28 13.19
P/S 0.10 1.85 2.60
P/B 0.34 2.60 2.08
Price to free cash flow 2.16 n/m 10.14
EV/EBITDA 4.84 9.53 8.11
EV/Sales 0.24 4.13 3.89
Earnings yield 10.56% 10.78% 6.83%
Free cash flow yield 46.37% (22.25%) 6.94%

Profitability

Metric PAGP VG Oil & Gas Midstream median
Gross margin 5.55% 53.48% 58.81%
Operating margin 3.13% 37.62% 32.14%
Net margin 1.06% 19.65% 21.16%
Free cash flow margin 4.65% (41.24%) 10.15%
Return on equity 3.77% 31.90% 11.30%
Return on assets 1.90% 6.17% 5.00%
Return on invested capital 4.51% 7.86% 6.13%

Growth

Metric PAGP VG Oil & Gas Midstream median
Revenue growth (TTM) 13.08% 100.72% 15.44%
EPS growth (last fiscal year) 150.00% 50.88% —
Revenue growth, 5-year CAGR 13.70% — 8.96%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric PAGP VG Oil & Gas Midstream median
Debt to equity 0.55 3.46 0.78
Current ratio 1.12 1.19 1.19
Net debt to EBITDA 4.59 5.19 3.42

Dividend

Metric PAGP VG Oil & Gas Midstream median
Dividend yield 6.88% — 7.29%
Payout ratio — — 0.64

Size

Metric PAGP VG Oil & Gas Midstream median
Market cap 20.34b 32.58b 3.61b

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