Permian Basin Royalty Trust (PBT) vs Tsakos Energy Navigation Ltd (TEN)

Permian Basin Royalty Trust and Tsakos Energy Navigation Ltd are both Oil & Gas Midstream companies. Permian Basin Royalty Trust is the larger, with a market value of $1.6B against $1.4B — 1.1× the size. Tsakos Energy Navigation Ltd trades at the lower P/E: 7.5× against 96.4×. Tsakos Energy Navigation Ltd grew revenue faster over the last twelve months: 23.2% against −3.71%. Permian Basin Royalty Trust has the higher net margin (92.0% vs 30.8%) and the lower return on invested capital (0.00% vs 7.05%). Both pay a dividend; Permian Basin Royalty Trust yields more (4.49% vs 4.18%). Across the 21 metrics below, Permian Basin Royalty Trust leads on 11 and Tsakos Energy Navigation Ltd on 10.

Valuation

Metric PBT TEN Oil & Gas Midstream median
P/E 96.37 7.53 13.19
P/S 89.22 1.44 2.60
P/B n/m 0.68 2.08
Price to free cash flow n/m n/m 10.14
EV/EBITDA 97.32 7.25 8.11
EV/Sales 89.09 3.13 3.89
Earnings yield 1.04% 13.28% 6.83%
Free cash flow yield 0.00% (19.20%) 6.94%

Profitability

Metric PBT TEN Oil & Gas Midstream median
Gross margin 100.00% 61.58% 58.81%
Operating margin 91.54% 43.17% 32.14%
Net margin 91.96% 30.77% 21.16%
Free cash flow margin 0.00% (27.72%) 10.15%
Return on equity 0.00% 15.61% 11.30%
Return on assets 757.27% 7.22% 5.00%
Return on invested capital 0.00% 7.05% 6.13%

Growth

Metric PBT TEN Oil & Gas Midstream median
Revenue growth (TTM) (3.71%) 23.23% 15.44%
EPS growth (last fiscal year) (43.64%) (11.53%) —
Revenue growth, 5-year CAGR 5.92% 4.40% 8.96%
Net income growth, 5-year CAGR 5.47% 0.00% 0.00%

Health

Metric PBT TEN Oil & Gas Midstream median
Debt to equity 0.00 1.02 0.78
Current ratio 1.00 1.40 1.19
Net debt to EBITDA (0.12) 3.89 3.42

Dividend

Metric PBT TEN Oil & Gas Midstream median
Dividend yield 4.49% 4.18% 7.29%
Payout ratio 1.00 0.05 0.64

Size

Metric PBT TEN Oil & Gas Midstream median
Market cap 1.57b 1.38b 3.61b

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