Prairie Operating Co. (PROP) vs PermRock Royalty Trust (PRT)

Prairie Operating Co. and PermRock Royalty Trust are both Oil & Gas E&P companies. Prairie Operating Co. is the larger, with a market value of $47.1M against $24.5M — 1.9× the size. Prairie Operating Co. has negative trailing earnings, so its P/E is not meaningful; PermRock Royalty Trust trades at 15.8×. Prairie Operating Co. grew revenue faster over the last twelve months: 311.2% against −41.7%. PermRock Royalty Trust has the higher net margin (78.4% vs 1.01%) and the lower return on invested capital (6.33% vs 10.3%). Across the 19 metrics below, PermRock Royalty Trust leads on 11 and Prairie Operating Co. on 8.

Valuation

Metric PROP PRT Oil & Gas E&P median
P/E n/m 15.80 10.57
P/S 0.13 6.70 1.80
P/B 0.21 0.94 1.27
Price to free cash flow n/m n/m 9.99
EV/EBITDA 2.60 9.23 5.08
EV/Sales 1.41 6.33 2.39
Earnings yield (293.60%) 6.33% 6.06%
Free cash flow yield (86.39%) 0.00% 6.17%

Profitability

Metric PROP PRT Oil & Gas E&P median
Gross margin 100.00% 100.00% 80.41%
Operating margin 33.92% 68.56% 21.39%
Net margin 1.01% 78.37% 14.17%
Free cash flow margin (11.63%) 0.00% 9.71%
Return on equity 2.18% 5.94% 10.05%
Return on assets 0.37% 5.77% 5.81%
Return on invested capital 10.31% 6.33% 6.32%

Growth

Metric PROP PRT Oil & Gas E&P median
Revenue growth (TTM) 311.16% (41.73%) 9.94%
EPS growth (last fiscal year) 49.06% (7.14%) —
Revenue growth, 5-year CAGR 257.76% 11.79% 18.67%
Net income growth, 5-year CAGR 0.00% 19.79% 0.00%

Health

Metric PROP PRT Oil & Gas E&P median
Debt to equity 1.64 0.00 0.28
Current ratio 0.25 3.70 0.96
Net debt to EBITDA 3.13 (0.26) 0.91

Dividend

Metric PROP PRT Oil & Gas E&P median
Dividend yield — 11.00% 4.93%
Payout ratio — 1.00 0.07

Size

Metric PROP PRT Oil & Gas E&P median
Market cap 47.09m 24.45m 923.59m

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