Pembina Pipeline Corp. (PBA) vs Viper Energy Inc. (VNOM)

Pembina Pipeline Corp. and Viper Energy Inc. are both Oil & Gas Midstream companies. Pembina Pipeline Corp. is the larger, with a market value of $28.0B against $15.7B — 1.8× the size. Pembina Pipeline Corp. trades at the lower P/E: 24.4× against 322×. Viper Energy Inc. grew revenue faster over the last twelve months: 107.8% against 2.50%. Pembina Pipeline Corp. has the higher net margin (20.1% vs 2.89%) and the higher return on invested capital (6.10% vs 1.32%). Both pay a dividend; Viper Energy Inc. yields more (5.44% vs 4.18%). Across the 22 metrics below, Viper Energy Inc. leads on 13 and Pembina Pipeline Corp. on 9.

Valuation

Metric PBA VNOM Oil & Gas Midstream median
P/E 24.44 321.64 12.77
P/S 4.92 4.27 2.36
P/B 2.63 0.85 2.09
Price to free cash flow 18.36 11.42 9.71
EV/EBITDA 13.68 10.02 8.30
EV/Sales 6.51 5.24 3.88
Earnings yield 4.09% 0.31% 7.15%
Free cash flow yield 5.45% 8.76% 6.86%

Profitability

Metric PBA VNOM Oil & Gas Midstream median
Gross margin 40.97% 100.00% 56.58%
Operating margin 35.83% 12.30% 34.18%
Net margin 20.12% 2.89% 22.50%
Free cash flow margin 26.77% 37.43% 13.70%
Return on equity 10.84% 0.62% 14.65%
Return on assets 4.60% 0.54% 5.00%
Return on invested capital 6.10% 1.32% 6.13%

Growth

Metric PBA VNOM Oil & Gas Midstream median
Revenue growth (TTM) 2.50% 107.84% 15.60%
EPS growth (last fiscal year) (13.06%) (112.57%) (7.86%)
Revenue growth, 5-year CAGR 4.31% 40.96% 9.59%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PBA VNOM Oil & Gas Midstream median
Debt to equity 0.77 0.16 0.78
Current ratio 0.62 6.37 1.19
Net debt to EBITDA 3.31 4.65 3.42

Dividend

Metric PBA VNOM Oil & Gas Midstream median
Dividend yield 4.18% 5.44% 4.54%
Payout ratio 1.03 18.85 0.76

Size

Metric PBA VNOM Oil & Gas Midstream median
Market cap 28.02b 15.71b 3.73b

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