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 $28.8B against $20.1B — 1.4× the size. Venture Global, Inc. trades at the lower P/E: 8.6× against 9.4×. 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 9.44 8.57 11.68
P/S 0.10 1.71 2.39
P/B 0.34 2.40 1.68
Price to free cash flow 2.15 n/m 8.52
EV/EBITDA 4.83 9.21 9.03
EV/Sales 0.24 3.99 3.43
Earnings yield 10.60% 11.67% 7.78%
Free cash flow yield 46.53% (24.11%) 7.11%

Profitability

Metric PAGP VG Oil & Gas Midstream median
Gross margin 5.55% 53.48% 54.87%
Operating margin 3.13% 37.62% 34.73%
Net margin 1.06% 19.65% 20.12%
Free cash flow margin 4.65% (41.24%) 14.43%
Return on equity 3.77% 31.90% 11.73%
Return on assets 1.90% 6.17% 4.43%
Return on invested capital 4.51% 7.86% 6.10%

Growth

Metric PAGP VG Oil & Gas Midstream median
Revenue growth (TTM) 13.08% 100.72% 14.88%
EPS growth (last fiscal year) 154.90% 50.88% (7.78%)
Revenue growth, 5-year CAGR 13.70% — 10.05%
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 0.77
Current ratio 1.12 1.19 1.19
Net debt to EBITDA 4.59 5.19 3.46

Dividend

Metric PAGP VG Oil & Gas Midstream median
Dividend yield 6.32% — 4.94%
Payout ratio 0.60 — 0.73

Size

Metric PAGP VG Oil & Gas Midstream median
Market cap 20.11b 28.80b 3.56b

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