PermRock Royalty Trust (PRT) vs Trio Petroleum Corp. (TPET)

PermRock Royalty Trust and Trio Petroleum Corp. are both Oil & Gas E&P companies. PermRock Royalty Trust is the larger, with a market value of $21.1M against $7.8M — 2.7× the size. Trio Petroleum Corp. has negative trailing earnings, so its P/E is not meaningful; PermRock Royalty Trust trades at 14.0×. Trio Petroleum Corp. grew revenue faster over the last twelve months: 180.3% against −41.7%. PermRock Royalty Trust has the higher net margin (78.4% vs −830.2%) and the higher return on invested capital (6.33% vs −35.0%). Across the 18 metrics below, PermRock Royalty Trust leads on 12 and Trio Petroleum Corp. on 6.

Valuation

Metric PRT TPET Oil & Gas E&P median
P/E 13.99 n/m 11.01
P/S 5.94 9.32 1.98
P/B 0.83 0.22 1.30
Price to free cash flow n/m n/m 10.68
EV/EBITDA 8.11 2.50 5.09
EV/Sales 5.56 (19.22) 2.63
Earnings yield 7.15% (173.90%) 5.78%
Free cash flow yield 0.00% (57.08%) 4.91%

Profitability

Metric PRT TPET Oil & Gas E&P median
Gross margin 100.00% 18.82% 80.41%
Operating margin 68.56% (802.46%) 21.39%
Net margin 78.37% (830.20%) 14.17%
Free cash flow margin 0.00% (531.73%) 8.18%
Return on equity 5.94% (29.50%) 10.05%
Return on assets 5.77% (27.75%) 5.81%
Return on invested capital 6.33% (35.01%) 6.32%

Growth

Metric PRT TPET Oil & Gas E&P median
Revenue growth (TTM) (41.73%) 180.31% 9.94%
EPS growth (last fiscal year) (7.14%) 81.48% (10.50%)
Revenue growth, 5-year CAGR 11.79% — 18.67%
Net income growth, 5-year CAGR 19.79% 0.00% 0.00%

Health

Metric PRT TPET Oil & Gas E&P median
Debt to equity 0.00 0.00 0.28
Current ratio 3.70 20.55 0.96
Net debt to EBITDA (0.26) 0.19 0.89

Dividend

Metric PRT TPET Oil & Gas E&P median
Dividend yield 11.67% — 3.29%
Payout ratio 1.63 — 0.35

Size

Metric PRT TPET Oil & Gas E&P median
Market cap 21.05m 7.82m 1.04b

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