Robin Energy Ltd. (RBNE) vs TOP Ships Inc. (TOPS)

Robin Energy Ltd. and TOP Ships Inc. are both Oil & Gas Midstream companies. TOP Ships Inc. is the larger, with a market value of $3.4M against $2.6M — 1.3× the size. TOP Ships Inc. has negative trailing earnings, so its P/E is not meaningful; Robin Energy Ltd. trades at 0.1×. Robin Energy Ltd. has the higher net margin (35.9% vs −1.48%) and the higher return on invested capital (42.7% vs 0.00%). Across the 16 metrics below, Robin Energy Ltd. leads on 12 and TOP Ships Inc. on 4.

Valuation

Metric RBNE TOPS Oil & Gas Midstream median
P/E 0.08 n/m 12.77
P/S 0.03 0.00 2.36
P/B 0.01 0.01 2.09
Price to free cash flow n/m n/m 9.71
EV/EBITDA n/m 2.97 8.30
EV/Sales (2.66) 1.64 3.88
Earnings yield 1,276.99% (26,713.33%) 7.15%
Free cash flow yield (6,210.75%) (24,226.39%) 6.86%

Profitability

Metric RBNE TOPS Oil & Gas Midstream median
Gross margin 54.90% 57.93% 56.58%
Operating margin 53.19% 0.00% 34.18%
Net margin 35.85% (1.48%) 22.50%
Free cash flow margin (167.93%) 0.00% 13.70%
Return on equity 14.65% 0.00% 14.65%
Return on assets 8.04% 0.00% 5.00%
Return on invested capital 42.67% 0.00% 6.13%

Growth

Metric RBNE TOPS Oil & Gas Midstream median
Revenue growth (TTM) — 25.46% 15.60%
EPS growth (last fiscal year) (242.96%) (38.53%) (7.86%)
Revenue growth, 5-year CAGR — 5.95% 9.59%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric RBNE TOPS Oil & Gas Midstream median
Debt to equity 0.00 3.40 0.78
Current ratio 13.18 0.48 1.19
Net debt to EBITDA (3.34) 3.72 3.42

Dividend

Metric RBNE TOPS Oil & Gas Midstream median
Dividend yield — — 4.54%
Payout ratio — — 0.76

Size

Metric RBNE TOPS Oil & Gas Midstream median
Market cap 2.58m 3.40m 3.73b

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