Teekay Corporation Ltd. (TK) vs WhiteHawk Minerals Corp. (WHK)

Teekay Corporation Ltd. and WhiteHawk Minerals Corp. are both Oil & Gas Midstream companies. Teekay Corporation Ltd. is the larger, with a market value of $1.1B against $730.7M — 1.5× the size. WhiteHawk Minerals Corp. has negative trailing earnings, so its P/E is not meaningful; Teekay Corporation Ltd. trades at 8.7×. Teekay Corporation Ltd. has the higher net margin (11.0% vs −81.9%) and the lower return on invested capital (0.00% vs 0.04%). Across the 15 metrics below, Teekay Corporation Ltd. leads on 12 and WhiteHawk Minerals Corp. on 3.

Valuation

Metric TK WHK Oil & Gas Midstream median
P/E 8.65 n/m 11.68
P/S 0.94 5.92 2.39
P/B 0.47 1.11 1.68
Price to free cash flow 1.26 n/m 8.52
EV/EBITDA 0.02 15.79 9.03
EV/Sales 0.01 6.79 3.43
Earnings yield 11.56% (21.24%) 7.78%
Free cash flow yield 79.11% (35.89%) 7.11%

Profitability

Metric TK WHK Oil & Gas Midstream median
Gross margin 39.94% 100.00% 54.87%
Operating margin 29.93% 0.38% 34.73%
Net margin 10.96% (81.94%) 20.12%
Free cash flow margin 0.00% (212.45%) 14.43%
Return on equity 0.00% 0.00% 11.73%
Return on assets 0.00% 0.00% 4.43%
Return on invested capital 0.00% 0.04% 6.10%

Growth

Metric TK WHK Oil & Gas Midstream median
Revenue growth (TTM) (16.70%) — 14.88%
EPS growth (last fiscal year) (19.72%) 66.36% (7.78%)
Revenue growth, 5-year CAGR (3.70%) — 10.05%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric TK WHK Oil & Gas Midstream median
Debt to equity 0.00 0.18 0.77
Current ratio 10.36 1.39 1.19
Net debt to EBITDA (2.50) 4.91 3.46

Dividend

Metric TK WHK Oil & Gas Midstream median
Dividend yield 0.00% — 4.94%
Payout ratio — — 0.73

Size

Metric TK WHK Oil & Gas Midstream median
Market cap 1.09b 730.66m 3.56b

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