Sabine Royalty Trust (SBR) vs Teekay Corporation Ltd. (TK)

Sabine Royalty Trust and Teekay Corporation Ltd. are both Oil & Gas Midstream companies. Teekay Corporation Ltd. is the larger, with a market value of $1.1B against $960.2M — 1.1× the size. Teekay Corporation Ltd. trades at the lower P/E: 8.7× against 13.4×. Sabine Royalty Trust grew revenue faster over the last twelve months: −2.95% against −16.7%. Sabine Royalty Trust has the higher net margin (94.7% vs 11.0%) and the higher return on invested capital (0.00% vs 0.00%). Only Sabine Royalty Trust pays a dividend (6.86%). Across the 18 metrics below, Sabine Royalty Trust leads on 10 and Teekay Corporation Ltd. on 8.

Valuation

Metric SBR TK Oil & Gas Midstream median
P/E 13.40 8.68 11.80
P/S 12.70 0.95 2.38
P/B n/m 0.48 1.65
Price to free cash flow n/m 1.27 7.76
EV/EBITDA 13.27 0.03 7.88
EV/Sales 12.57 0.01 3.36
Earnings yield 7.46% 11.52% 7.98%
Free cash flow yield 0.00% 78.86% 7.23%

Profitability

Metric SBR TK Oil & Gas Midstream median
Gross margin 100.00% 39.94% 55.22%
Operating margin 94.71% 29.93% 35.83%
Net margin 94.71% 10.96% 20.12%
Free cash flow margin 0.00% 0.00% 14.43%
Return on equity 0.00% 0.00% 14.03%
Return on assets 806.27% 0.00% 4.62%
Return on invested capital 0.00% 0.00% 6.10%

Growth

Metric SBR TK Oil & Gas Midstream median
Revenue growth (TTM) (2.95%) (16.70%) 15.70%
EPS growth (last fiscal year) (7.69%) (19.72%) (7.78%)
Revenue growth, 5-year CAGR 16.35% (3.70%) 10.05%
Net income growth, 5-year CAGR 17.13% 0.00% 0.00%

Health

Metric SBR TK Oil & Gas Midstream median
Debt to equity 0.00 0.00 0.77
Current ratio 7.25 10.36 1.16
Net debt to EBITDA (0.10) (2.50) 3.46

Dividend

Metric SBR TK Oil & Gas Midstream median
Dividend yield 6.86% 0.00% 5.03%
Payout ratio 0.92 — 0.73

Size

Metric SBR TK Oil & Gas Midstream median
Market cap 960.20m 1.09b 3.30b

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