USA Compression Partners, LP (USAC) vs WaterBridge Infrastructure LLC (WBI)

USA Compression Partners, LP and WaterBridge Infrastructure LLC are both Oil & Gas Equipment & Services companies. USA Compression Partners, LP is the larger, with a market value of $3.5B against $3.0B — 1.2× the size. USA Compression Partners, LP trades at the lower P/E: 21.5× against 127×. WaterBridge Infrastructure LLC grew revenue faster over the last twelve months: 113.5% against 29.4%. USA Compression Partners, LP has the higher net margin (12.4% vs 0.00%) and the higher return on invested capital (7.11% vs 2.32%). Both pay a dividend; USA Compression Partners, LP yields more (6.50% vs 0.62%). Across the 19 metrics below, USA Compression Partners, LP leads on 12 and WaterBridge Infrastructure LLC on 7.

Valuation

Metric USAC WBI Oil & Gas Equipment & Services median
P/E 21.45 126.76 20.53
P/S 2.74 1.55 1.08
P/B 13.59 0.73 1.64
Price to free cash flow 12.85 n/m 12.36
EV/EBITDA 9.55 8.61 8.00
EV/Sales 5.07 3.60 1.29
Earnings yield 4.66% 0.79% 3.88%
Free cash flow yield 7.78% (2.05%) 5.18%

Profitability

Metric USAC WBI Oil & Gas Equipment & Services median
Gross margin 64.04% 0.00% 22.88%
Operating margin 28.88% 15.48% 7.44%
Net margin 12.40% 0.00% 4.12%
Free cash flow margin 21.31% 40.77% 3.10%
Return on equity 293.85% 0.00% 5.46%
Return on assets 4.99% 0.00% 2.63%
Return on invested capital 7.11% 2.32% 4.26%

Growth

Metric USAC WBI Oil & Gas Equipment & Services median
Revenue growth (TTM) 29.41% 113.49% 4.65%
EPS growth (last fiscal year) 18.06% — (13.00%)
Revenue growth, 5-year CAGR 8.37% — 12.57%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric USAC WBI Oil & Gas Equipment & Services median
Debt to equity 11.64 0.99 0.44
Current ratio 1.46 1.17 2.04
Net debt to EBITDA 4.14 6.16 1.12

Dividend

Metric USAC WBI Oil & Gas Equipment & Services median
Dividend yield 6.50% 0.62% 1.49%
Payout ratio 1.39 0.79 0.36

Size

Metric USAC WBI Oil & Gas Equipment & Services median
Market cap 3.51b 2.96b 1.44b

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