Pyxis Tankers Inc. (PXS) vs TOP Ships Inc. (TOPS)

Pyxis Tankers Inc. and TOP Ships Inc. are both Oil & Gas Midstream companies. Pyxis Tankers Inc. is the larger, with a market value of $67.7M against $5.1M — 13.4× the size. TOP Ships Inc. has negative trailing earnings, so its P/E is not meaningful; Pyxis Tankers Inc. trades at 8.1×. TOP Ships Inc. grew revenue faster over the last twelve months: 25.5% against −5.01%. Pyxis Tankers Inc. has the higher net margin (20.0% vs −1.48%) and the higher return on invested capital (6.15% vs 0.00%). Across the 19 metrics below, Pyxis Tankers Inc. leads on 13 and TOP Ships Inc. on 6.

Valuation

Metric PXS TOPS Oil & Gas Midstream median
P/E 8.06 n/m 13.19
P/S 1.58 0.01 2.60
P/B 0.63 0.01 2.08
Price to free cash flow 4.46 n/m 10.14
EV/EBITDA 4.26 2.98 8.11
EV/Sales 2.17 1.64 3.89
Earnings yield 12.40% (17,677.94%) 6.83%
Free cash flow yield 22.40% (16,032.17%) 6.94%

Profitability

Metric PXS TOPS Oil & Gas Midstream median
Gross margin 61.64% 57.93% 58.81%
Operating margin 30.65% 0.00% 32.14%
Net margin 20.00% (1.48%) 21.16%
Free cash flow margin 35.37% 0.00% 10.15%
Return on equity 8.26% 0.00% 11.30%
Return on assets 4.43% 0.00% 5.00%
Return on invested capital 6.15% 0.00% 6.13%

Growth

Metric PXS TOPS Oil & Gas Midstream median
Revenue growth (TTM) (5.01%) 25.46% 15.44%
EPS growth (last fiscal year) (79.12%) (38.53%) —
Revenue growth, 5-year CAGR 12.43% 5.95% 8.96%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PXS TOPS Oil & Gas Midstream median
Debt to equity 0.78 3.40 0.78
Current ratio 4.72 0.48 1.19
Net debt to EBITDA 2.31 3.72 3.42

Dividend

Metric PXS TOPS Oil & Gas Midstream median
Dividend yield — — 7.29%
Payout ratio 0.00 0.00 0.64

Size

Metric PXS TOPS Oil & Gas Midstream median
Market cap 67.68m 5.06m 3.61b

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