Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM Revenue Multiple | 2.4x - 2.6x | 2.5x |
| Selected Fwd Revenue Multiple | 2.1x - 2.4x | 2.2x |
| Fair Value | $95.22 - $106.03 | $100.62 |
| Upside | -9.3% - 1.0% | -4.2% |
| Benchmarks | Ticker | Full Ticker |
|---|---|---|
| Kinder Morgan, Inc. | KMI | NYSE:KMI |
| Murphy Oil Corporation | MUR | NYSE:MUR |
| Diamondback Energy, Inc. | FANG | NasdaqGS:FANG |
| Energy Transfer LP | ET | NYSE:ET |
| APA Corporation | APA | NasdaqGS:APA |
| ConocoPhillips | COP_KZ | KAS:COP_KZ |
| Select LTM Revenue Multiple | ||||||||
| Benchmark Companies | ||||||||
| KMI | MUR | FANG | ET | APA | COP_KZ | |||
| NYSE:KMI | NYSE:MUR | NasdaqGS:FANG | NYSE:ET | NasdaqGS:APA | KAS:COP_KZ | |||
| Historical Revenue Growth | ||||||||
| 5Y CAGR | 2.7% | 1.4% | 21.7% | 8.8% | 8.3% | 11.1% | ||
| 3Y CAGR | -3.1% | 2.5% | 16.1% | 7.0% | 5.7% | 6.6% | ||
| Latest Twelve Months | -1.5% | -12.5% | 32.7% | 5.2% | 16.4% | -2.4% | ||
| Historical EBIT Profit Margin | ||||||||
| 5 Year Average Margin | 26.9% | 20.0% | 46.5% | 12.0% | 6.7% | 22.2% | ||
| Prior Fiscal Year | 27.8% | 30.1% | 54.6% | 10.6% | 42.6% | 28.4% | ||
| Latest Fiscal Year | 28.8% | 19.6% | 46.2% | 11.1% | 21.8% | 26.0% | ||
| Latest Twelve Months | 28.8% | 19.6% | 46.2% | 11.1% | 21.8% | 26.0% | ||
| Current Trading Multiples | ||||||||
| EV / LTM Revenue | 5.88x | 1.96x | 5.74x | 1.65x | 1.53x | 2.48x | ||
| EV / LTM EBIT | 20.4x | 10.0x | 12.4x | 14.8x | 7.0x | 9.5x | ||
| Price / LTM Sales | 4.17x | 1.37x | 4.32x | 0.78x | 0.80x | 2.31x | ||
| Low | Mid | High | ||||||
| Benchmark EV / LTM Revenue | 1.53x | 1.96x | 5.88x | |||||
| Historical EV / LTM Revenue | 1.89x | 2.24x | 2.58x | |||||
| Selected EV / LTM Revenue | 2.37x | 2.49x | 2.62x | |||||
| (x) LTM Revenue | 56,450 | 56,450 | 56,450 | |||||
| (=) Implied Enterprise Value | 133,719 | 140,757 | 147,795 | |||||
| (-) Non-shareholder Claims * | (9,478) | (9,478) | (9,478) | |||||
| (=) Equity Value | 124,241 | 131,279 | 138,317 | |||||
| (/) Shares Outstanding | 1,272.4 | 1,272.4 | 1,272.4 | |||||
| Implied Value Range | 97.64 | 103.18 | 108.71 | |||||
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 97.64 | 103.18 | 108.71 | 105.00 | ||||
| Upside / (Downside) | -7.0% | -1.7% | 3.5% | |||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | KMI | MUR | FANG | ET | APA | COP_KZ | |
| Enterprise Value | 88,811 | 5,928 | 60,280 | 136,344 | 14,490 | 143,078 | |
| (+) Cash & Short Term Investments | 93 | 424 | 161 | 312 | 625 | 6,114 | |
| (+) Investments & Other | 7,868 | 0 | 383 | 3,266 | 0 | 9,756 | |
| (-) Debt | (32,399) | (2,066) | (13,099) | (60,558) | (6,417) | (25,348) | |
| (-) Other Liabilities | (1,336) | (148) | (2,126) | (11,314) | (1,082) | 0 | |
| (-) Preferred Stock | 0 | 0 | 0 | (3,852) | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 63,037 | 4,138 | 45,599 | 64,198 | 7,616 | 133,600 | |
| (/) Shares Outstanding | 2,222.0 | 145.9 | 289.4 | 3,431.2 | 364.1 | 1,272.4 | |
| Implied Stock Price | 28.37 | 28.37 | 157.54 | 18.71 | 20.92 | 105.00 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 28.37 | 28.37 | 157.54 | 18.71 | 20.92 | 105.00 | |
| Trading Currency | USD | USD | USD | USD | USD | USD | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |