PermRock Royalty Trust (PRT) vs VOC Energy Trust (VOC)

PermRock Royalty Trust and VOC Energy Trust are both Oil & Gas E&P companies. VOC Energy Trust is the larger, with a market value of $57.6M against $21.1M — 2.7× the size. VOC Energy Trust trades at the lower P/E: 8.3× against 14.0×. VOC Energy Trust grew revenue faster over the last twelve months: −31.8% against −41.7%. VOC Energy Trust has the higher net margin (91.5% vs 78.4%) and the lower return on invested capital (0.00% vs 6.33%). Both pay a dividend; VOC Energy Trust yields more (17.0% vs 11.7%). Across the 18 metrics below, VOC Energy Trust leads on 10 and PermRock Royalty Trust on 8.

Valuation

Metric PRT VOC Oil & Gas E&P median
P/E 13.99 8.27 11.01
P/S 5.94 7.66 1.98
P/B 0.83 6.35 1.30
Price to free cash flow n/m n/m 10.68
EV/EBITDA 8.11 7.05 5.09
EV/Sales 5.56 6.45 2.63
Earnings yield 7.15% 12.09% 5.78%
Free cash flow yield 0.00% 0.00% 4.91%

Profitability

Metric PRT VOC Oil & Gas E&P median
Gross margin 100.00% 100.00% 80.41%
Operating margin 68.56% 91.52% 21.39%
Net margin 78.37% 91.52% 14.17%
Free cash flow margin 0.00% 0.00% 8.18%
Return on equity 5.94% 68.29% 10.05%
Return on assets 5.77% 68.29% 5.81%
Return on invested capital 6.33% 0.00% 6.32%

Growth

Metric PRT VOC Oil & Gas E&P median
Revenue growth (TTM) (41.73%) (31.76%) 9.94%
EPS growth (last fiscal year) (7.14%) (39.73%) (10.50%)
Revenue growth, 5-year CAGR 11.79% 11.48% 18.67%
Net income growth, 5-year CAGR 19.79% 14.09% 0.00%

Health

Metric PRT VOC Oil & Gas E&P median
Debt to equity 0.00 0.00 0.28
Current ratio 3.70 0.00 0.96
Net debt to EBITDA (0.26) (1.41) 0.89

Dividend

Metric PRT VOC Oil & Gas E&P median
Dividend yield 11.67% 16.96% 3.29%
Payout ratio 1.63 1.40 0.35

Size

Metric PRT VOC Oil & Gas E&P median
Market cap 21.05m 57.63m 1.04b

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