Permian Basin Royalty Trust (PBT) vs Teekay Corporation Ltd. (TK)

Permian Basin Royalty Trust and Teekay Corporation Ltd. are both Oil & Gas Midstream companies. Permian Basin Royalty Trust is the larger, with a market value of $1.6B against $1.2B — 1.3× the size. Teekay Corporation Ltd. trades at the lower P/E: 9.4× against 96.4×. Permian Basin Royalty Trust grew revenue faster over the last twelve months: −3.71% against −16.7%. Permian Basin Royalty Trust has the higher net margin (92.0% vs 11.0%) and the higher return on invested capital (0.00% vs 0.00%). Across the 17 metrics below, Teekay Corporation Ltd. leads on 9 and Permian Basin Royalty Trust on 8.

Valuation

Metric PBT TK Oil & Gas Midstream median
P/E 96.37 9.38 13.19
P/S 89.22 1.02 2.60
P/B n/m 0.51 2.08
Price to free cash flow n/m 1.37 10.14
EV/EBITDA 97.32 0.24 8.11
EV/Sales 89.09 0.09 3.89
Earnings yield 1.04% 10.66% 6.83%
Free cash flow yield 0.00% 72.93% 6.94%

Profitability

Metric PBT TK Oil & Gas Midstream median
Gross margin 100.00% 39.94% 58.81%
Operating margin 91.54% 29.93% 32.14%
Net margin 91.96% 10.96% 21.16%
Free cash flow margin 0.00% 0.00% 10.15%
Return on equity 0.00% 0.00% 11.30%
Return on assets 757.27% 0.00% 5.00%
Return on invested capital 0.00% 0.00% 6.13%

Growth

Metric PBT TK Oil & Gas Midstream median
Revenue growth (TTM) (3.71%) (16.70%) 15.44%
EPS growth (last fiscal year) (43.64%) (19.72%) —
Revenue growth, 5-year CAGR 5.92% (3.70%) 8.96%
Net income growth, 5-year CAGR 5.47% 0.00% 0.00%

Health

Metric PBT TK Oil & Gas Midstream median
Debt to equity 0.00 0.00 0.78
Current ratio 1.00 10.36 1.19
Net debt to EBITDA (0.12) (2.50) 3.42

Dividend

Metric PBT TK Oil & Gas Midstream median
Dividend yield 4.49% — 7.29%
Payout ratio 1.00 0.00 0.64

Size

Metric PBT TK Oil & Gas Midstream median
Market cap 1.57b 1.20b 3.61b

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