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 EBIT Multiple | 5.9x - 6.5x | 6.2x |
| Selected Fwd EBIT Multiple | 6.3x - 7.0x | 6.7x |
| Fair Value | $19.86 - $23.83 | $21.84 |
| Upside | 6.5% - 27.8% | 17.1% |
| Benchmarks | Ticker | Full Ticker |
| Magnolia Oil & Gas Corporation | MGY | NYSE:MGY |
| Kinder Morgan, Inc. | KMI | NYSE:KMI |
| Chord Energy Corporation | CHRD | NasdaqGS:CHRD |
| EQT Corporation | EQT | NYSE:EQT |
| Murphy Oil Corporation | MUR | NYSE:MUR |
| APA Corporation | APA | NasdaqGS:APA |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| MGY | KMI | CHRD | EQT | MUR | APA | ||
| NYSE:MGY | NYSE:KMI | NasdaqGS:CHRD | NYSE:EQT | NYSE:MUR | NasdaqGS:APA | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | 32.0% | 2.4% | NM- | -13.5% | 6.0% | NM- | |
| 3Y CAGR | -5.1% | -1.5% | NM- | NM- | 4.6% | -10.5% | |
| Latest Twelve Months | -1.7% | -0.6% | 3.9% | -38.6% | -40.9% | -30.9% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 27.8% | 26.9% | -80.6% | 6.4% | 19.7% | 9.0% | |
| Prior Fiscal Year | 43.6% | 27.8% | 37.6% | 50.4% | 30.1% | 42.6% | |
| Latest Fiscal Year | 38.9% | 28.8% | 24.3% | 6.8% | 19.6% | 21.8% | |
| Latest Twelve Months | 38.9% | 27.5% | 24.9% | 10.6% | 18.9% | 21.7% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 3.36x | 5.72x | 1.36x | 7.24x | 1.91x | 1.30x | |
| EV / LTM EBITDA | 4.8x | 13.5x | 2.7x | 15.1x | 3.6x | 2.2x | |
| EV / LTM EBIT | 8.7x | 20.8x | 5.4x | 68.4x | 10.1x | 6.0x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | 5.4x | 10.1x | 68.4x | ||||
| Historical EV / LTM EBIT | -2.6x | 4.8x | 8.8x | ||||
| Selected EV / LTM EBIT | 5.9x | 6.2x | 6.5x | ||||
| (x) LTM EBIT | 2,205 | 2,205 | 2,205 | ||||
| (=) Implied Enterprise Value | 12,907 | 13,586 | 14,266 | ||||
| (-) Non-shareholder Claims * | (6,451) | (6,451) | (6,451) | ||||
| (=) Equity Value | 6,456 | 7,135 | 7,815 | ||||
| (/) Shares Outstanding | 360.8 | 360.8 | 360.8 | ||||
| Implied Value Range | 17.89 | 19.77 | 21.66 | ||||
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 17.89 | 19.77 | 21.66 | 18.65 | |||
| Upside / (Downside) | -4.1% | 6.0% | 16.1% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | MGY | KMI | CHRD | EQT | MUR | APA | |
| Enterprise Value | 4,530 | 88,609 | 6,682 | 44,561 | 5,527 | 13,181 | |
| (+) Cash & Short Term Investments | 248 | 86 | 36 | 282 | 393 | 67 | |
| (+) Investments & Other | 0 | 7,911 | 135 | 3,580 | 0 | 0 | |
| (-) Debt | (411) | (33,200) | (841) | (8,393) | (2,202) | (5,491) | |
| (-) Other Liabilities | (56) | (1,321) | 0 | (3,685) | (157) | (1,027) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 4,311 | 62,085 | 6,012 | 36,344 | 3,561 | 6,730 | |
| (/) Shares Outstanding | 186.9 | 2,222.1 | 57.8 | 624.0 | 142.7 | 360.8 | |
| Implied Stock Price | 23.06 | 27.94 | 104.09 | 58.24 | 24.95 | 18.65 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 23.06 | 27.94 | 104.09 | 58.24 | 24.95 | 18.65 | |
| 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 | |