Summit Midstream Partners, LP (SMC) vs Tsakos Energy Navigation Ltd (TEN)

Summit Midstream Partners, LP and Tsakos Energy Navigation Ltd are both Oil & Gas Midstream companies. Tsakos Energy Navigation Ltd is the larger, with a market value of $1.3B against $544.1M — 2.4× the size. Summit Midstream Partners, LP has negative trailing earnings, so its P/E is not meaningful; Tsakos Energy Navigation Ltd trades at 4.5×. Tsakos Energy Navigation Ltd grew revenue faster over the last twelve months: 23.2% against 20.9%. Tsakos Energy Navigation Ltd has the higher net margin (30.8% vs −2.29%) and the higher return on invested capital (7.05% vs 2.59%). Across the 19 metrics below, Tsakos Energy Navigation Ltd leads on 12 and Summit Midstream Partners, LP on 7.

Valuation

Metric SMC TEN Oil & Gas Midstream median
P/E n/m 4.50 11.68
P/S 0.63 1.39 2.39
P/B 0.43 0.65 1.68
Price to free cash flow 8.26 n/m 8.52
EV/EBITDA 7.74 7.11 9.03
EV/Sales 2.71 3.07 3.43
Earnings yield (4.10%) 22.23% 7.78%
Free cash flow yield 12.11% (19.99%) 7.11%

Profitability

Metric SMC TEN Oil & Gas Midstream median
Gross margin 45.03% 61.58% 54.87%
Operating margin 15.10% 43.17% 34.73%
Net margin (2.29%) 30.77% 20.12%
Free cash flow margin 7.69% (27.72%) 14.43%
Return on equity (1.57%) 15.61% 11.73%
Return on assets (0.55%) 7.25% 4.43%
Return on invested capital 2.59% 7.05% 6.10%

Growth

Metric SMC TEN Oil & Gas Midstream median
Revenue growth (TTM) 20.94% 23.23% 14.88%
EPS growth (last fiscal year) 87.40% (11.53%) (7.78%)
Revenue growth, 5-year CAGR 7.95% 4.40% 10.05%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric SMC TEN Oil & Gas Midstream median
Debt to equity 1.35 1.02 0.77
Current ratio 0.94 1.40 1.19
Net debt to EBITDA 5.27 3.89 3.46

Dividend

Metric SMC TEN Oil & Gas Midstream median
Dividend yield — — 4.94%
Payout ratio — — 0.73

Size

Metric SMC TEN Oil & Gas Midstream median
Market cap 544.05m 1.30b 3.56b

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