Sabine Royalty Trust (SBR) vs Tsakos Energy Navigation Ltd (TEN)

Sabine Royalty Trust and Tsakos Energy Navigation Ltd are both Oil & Gas Midstream companies. Tsakos Energy Navigation Ltd is the larger, with a market value of $1.5B against $1.1B — 1.4× the size. Tsakos Energy Navigation Ltd trades at the lower P/E: 5.2× against 14.8×. Tsakos Energy Navigation Ltd grew revenue faster over the last twelve months: 23.2% against −2.95%. Sabine Royalty Trust has the higher net margin (94.7% vs 30.8%) and the lower return on invested capital (0.00% vs 7.05%). Across the 20 metrics below, Sabine Royalty Trust leads on 12 and Tsakos Energy Navigation Ltd on 8.

Valuation

Metric SBR TEN Oil & Gas Midstream median
P/E 14.79 5.17 12.77
P/S 14.02 1.60 2.36
P/B n/m 0.75 2.09
Price to free cash flow n/m n/m 9.71
EV/EBITDA 14.66 7.60 8.30
EV/Sales 13.89 3.28 3.88
Earnings yield 6.76% 19.33% 7.15%
Free cash flow yield 0.00% (17.38%) 6.86%

Profitability

Metric SBR TEN Oil & Gas Midstream median
Gross margin 100.00% 61.58% 56.58%
Operating margin 94.71% 43.17% 34.18%
Net margin 94.71% 30.77% 22.50%
Free cash flow margin 0.00% (27.72%) 13.70%
Return on equity 0.00% 15.61% 14.65%
Return on assets 806.27% 7.25% 5.00%
Return on invested capital 0.00% 7.05% 6.13%

Growth

Metric SBR TEN Oil & Gas Midstream median
Revenue growth (TTM) (2.95%) 23.23% 15.60%
EPS growth (last fiscal year) (7.69%) (11.53%) (7.86%)
Revenue growth, 5-year CAGR 16.35% 4.40% 9.59%
Net income growth, 5-year CAGR 17.13% 0.00% 0.00%

Health

Metric SBR TEN Oil & Gas Midstream median
Debt to equity 0.00 1.02 0.78
Current ratio 7.25 1.40 1.19
Net debt to EBITDA (0.10) 3.89 3.42

Dividend

Metric SBR TEN Oil & Gas Midstream median
Dividend yield 6.22% — 4.54%
Payout ratio 0.92 — 0.76

Size

Metric SBR TEN Oil & Gas Midstream median
Market cap 1.05b 1.52b 3.73b

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