Pembina Pipeline Corp. (PBA) vs Venture Global, Inc. (VG)

Pembina Pipeline Corp. and Venture Global, Inc. are both Oil & Gas Midstream companies. Pembina Pipeline Corp. and Venture Global, Inc. are of similar size ($28.8B and $27.7B). Venture Global, Inc. trades at the lower P/E: 8.6× against 23.3×. Venture Global, Inc. grew revenue faster over the last twelve months: 100.7% against 2.50%. Pembina Pipeline Corp. has the higher net margin (20.1% vs 19.7%) and the lower return on invested capital (6.10% vs 7.86%). Across the 19 metrics below, Venture Global, Inc. leads on 14 and Pembina Pipeline Corp. on 5.

Valuation

Metric PBA VG Oil & Gas Midstream median
P/E 23.32 8.57 11.68
P/S 4.69 1.71 2.39
P/B 2.51 2.40 1.68
Price to free cash flow 17.52 n/m 8.52
EV/EBITDA 13.21 9.21 9.03
EV/Sales 6.28 3.99 3.43
Earnings yield 4.29% 11.67% 7.78%
Free cash flow yield 5.71% (24.11%) 7.11%

Profitability

Metric PBA VG Oil & Gas Midstream median
Gross margin 40.97% 53.48% 54.87%
Operating margin 35.83% 37.62% 34.73%
Net margin 20.12% 19.65% 20.12%
Free cash flow margin 26.77% (41.24%) 14.43%
Return on equity 10.84% 31.90% 11.73%
Return on assets 4.60% 6.17% 4.43%
Return on invested capital 6.10% 7.86% 6.10%

Growth

Metric PBA VG Oil & Gas Midstream median
Revenue growth (TTM) 2.50% 100.72% 14.88%
EPS growth (last fiscal year) (13.06%) 50.88% (7.78%)
Revenue growth, 5-year CAGR 4.31% — 10.05%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric PBA VG Oil & Gas Midstream median
Debt to equity 0.77 3.46 0.77
Current ratio 0.62 1.19 1.19
Net debt to EBITDA 3.31 5.19 3.46

Dividend

Metric PBA VG Oil & Gas Midstream median
Dividend yield 4.38% — 4.94%
Payout ratio 1.03 — 0.73

Size

Metric PBA VG Oil & Gas Midstream median
Market cap 27.70b 28.80b 3.56b

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