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 $1.2B against $1.1B — 1.2× the size. Teekay Corporation Ltd. trades at the lower P/E: 9.6× against 14.8×. 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 (6.22%). 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 14.79 9.63 12.77
P/S 14.02 1.05 2.36
P/B n/m 0.53 2.09
Price to free cash flow n/m 1.41 9.71
EV/EBITDA 14.66 0.31 8.30
EV/Sales 13.89 0.12 3.88
Earnings yield 6.76% 10.38% 7.15%
Free cash flow yield 0.00% 71.07% 6.86%

Profitability

Metric SBR TK Oil & Gas Midstream median
Gross margin 100.00% 39.94% 56.58%
Operating margin 94.71% 29.93% 34.18%
Net margin 94.71% 10.96% 22.50%
Free cash flow margin 0.00% 0.00% 13.70%
Return on equity 0.00% 0.00% 14.65%
Return on assets 806.27% 0.00% 5.00%
Return on invested capital 0.00% 0.00% 6.13%

Growth

Metric SBR TK Oil & Gas Midstream median
Revenue growth (TTM) (2.95%) (16.70%) 15.60%
EPS growth (last fiscal year) (7.69%) (19.72%) (7.86%)
Revenue growth, 5-year CAGR 16.35% (3.70%) 9.59%
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 0.78
Current ratio 7.25 10.36 1.19
Net debt to EBITDA (0.10) (2.50) 3.42

Dividend

Metric SBR TK Oil & Gas Midstream median
Dividend yield 6.22% 0.00% 4.54%
Payout ratio 0.92 — 0.76

Size

Metric SBR TK Oil & Gas Midstream median
Market cap 1.05b 1.23b 3.73b

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