Oil & Gas Midstream
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GEL vs MMLP vs CAPL
Revenue, margins, valuation, and 5-year total return — side by side.
Oil & Gas Midstream
Oil & Gas Refining & Marketing
GEL vs MMLP vs CAPL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | |||
|---|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Refining & Marketing |
| Market Cap | $2.02B | $100M | $812M |
| Revenue (TTM) | $1.68B | $711M | $4.62B |
| Net Income (TTM) | $48M | $-20M | $60M |
| Gross Margin | 16.8% | 22.3% | 8.5% |
| Operating Margin | 18.6% | 5.8% | 2.6% |
| Forward P/E | 20.9x | — | 49.5x |
| Total Debt | $3.05B | $525M | $908M |
| Cash & Equiv. | $6M | $49K | $3M |
GEL vs MMLP vs CAPL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Genesis Energy, L.P. (GEL) | 100 | 205.4 | +105.4% |
| Martin Midstream Pa… (MMLP) | 100 | 102.8 | +2.8% |
| CrossAmerica Partne… (CAPL) | 100 | 141.1 | +41.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: GEL vs MMLP vs CAPL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
GEL has the current edge in this matchup, primarily because of its strength in value and quality.
- Lower P/E (20.9x vs 49.5x)
- 2.9% margin vs MMLP's -2.8%
- +19.5% vs MMLP's -14.5%
MMLP is the clearest fit if your priority is growth.
- 1.2% revenue growth vs GEL's -45.0%
CAPL is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 2 yrs, beta 0.06, yield 9.9%
- Rev growth -10.6%, EPS growth 109.6%, 3Y rev CAGR -9.7%
- 87.5% 10Y total return vs GEL's -8.4%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 1.2% revenue growth vs GEL's -45.0% | |
| Value | Lower P/E (20.9x vs 49.5x) | |
| Quality / Margins | 2.9% margin vs MMLP's -2.8% | |
| Stability / Safety | Beta 0.06 vs MMLP's 0.39 | |
| Dividends | 9.9% yield, 2-year raise streak, vs GEL's 4.0% | |
| Momentum (1Y) | +19.5% vs MMLP's -14.5% | |
| Efficiency (ROA) | 6.0% ROA vs MMLP's -3.9%, ROIC 18.1% vs 8.0% |
GEL vs MMLP vs CAPL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
GEL vs MMLP vs CAPL — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
GEL leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
CAPL is the larger business by revenue, generating $4.6B annually — 6.5x MMLP's $711M. GEL is the more profitable business, keeping 2.9% of every revenue dollar as net income compared to MMLP's -2.8%. On growth, GEL holds the edge at +12.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | |||
|---|---|---|---|
| RevenueTrailing 12 months | $1.7B | $711M | $4.6B |
| EBITDAEarnings before interest/tax | $550M | $91M | $200M |
| Net IncomeAfter-tax profit | $48M | -$20M | $60M |
| Free Cash FlowCash after capex | $209M | $15M | $75M |
| Gross MarginGross profit ÷ Revenue | +16.8% | +22.3% | +8.5% |
| Operating MarginEBIT ÷ Revenue | +18.6% | +5.8% | +2.6% |
| Net MarginNet income ÷ Revenue | +2.9% | -2.8% | +1.3% |
| FCF MarginFCF ÷ Revenue | +12.5% | +2.2% | +1.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +12.1% | -2.5% | -100.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +103.9% | -5.6% | +2.4% |
Valuation Metrics
Evenly matched — GEL and MMLP each lead in 2 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, CAPL's 5.8x EV/EBITDA is more attractive than GEL's 10.3x.
| Metric | |||
|---|---|---|---|
| Market CapShares × price | $2.0B | $100M | $812M |
| Enterprise ValueMkt cap + debt − cash | $5.1B | $625M | $1.7B |
| Trailing P/EPrice ÷ TTM EPS | -22.56x | -6.95x | 19.54x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.85x | — | 49.53x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — |
| EV / EBITDAEnterprise value multiple | 10.31x | 6.44x | 5.80x |
| Price / SalesMarket cap ÷ Revenue | 1.24x | 0.14x | 0.22x |
| Price / BookPrice ÷ Book value/share | 2.85x | — | — |
| Price / FCFMarket cap ÷ FCF | 22.83x | 7.17x | 14.57x |
Profitability & Efficiency
CAPL leads this category, winning 4 of 7 comparable metrics.
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), CAPL scores 5/9 vs MMLP's 3/9, reflecting solid financial health.
| Metric | |||
|---|---|---|---|
| ROE (TTM)Return on equity | +6.1% | — | — |
| ROA (TTM)Return on assets | +1.0% | -3.9% | +6.0% |
| ROICReturn on invested capital | +4.0% | +8.0% | +18.1% |
| ROCEReturn on capital employed | +5.0% | +11.4% | +23.4% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 3 | 5 |
| Debt / EquityFinancial leverage | 4.30x | — | — |
| Net DebtTotal debt minus cash | $3.0B | $525M | $905M |
| Cash & Equiv.Liquid assets | $6M | $49,000 | $3M |
| Total DebtShort + long-term debt | $3.0B | $525M | $908M |
| Interest CoverageEBIT ÷ Interest expense | 1.97x | 0.72x | 1.86x |
Total Returns (Dividends Reinvested)
GEL leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in GEL five years ago would be worth $20,901 today (with dividends reinvested), compared to $11,438 for MMLP. Over the past 12 months, GEL leads with a +19.5% total return vs MMLP's -14.5%. The 3-year compound annual growth rate (CAGR) favors GEL at 23.2% vs MMLP's 1.6% — a key indicator of consistent wealth creation.
| Metric | |||
|---|---|---|---|
| YTD ReturnYear-to-date | +6.0% | -4.6% | +8.4% |
| 1-Year ReturnPast 12 months | +19.5% | -14.5% | +2.7% |
| 3-Year ReturnCumulative with dividends | +86.9% | +5.0% | +34.7% |
| 5-Year ReturnCumulative with dividends | +109.0% | +14.4% | +56.1% |
| 10-Year ReturnCumulative with dividends | -8.4% | -57.7% | +87.5% |
| CAGR (3Y)Annualised 3-year return | +23.2% | +1.6% | +10.4% |
Risk & Volatility
CAPL leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
CAPL is the less volatile stock with a 0.06 beta — it tends to amplify market swings less than MMLP's 0.39 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CAPL currently trades 90.2% from its 52-week high vs MMLP's 72.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | |||
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.32x | 0.39x | 0.06x |
| 52-Week HighHighest price in past year | $18.64 | $3.54 | $23.62 |
| 52-Week LowLowest price in past year | $13.21 | $2.21 | $19.61 |
| % of 52W HighCurrent price vs 52-week peak | +88.4% | +72.6% | +90.2% |
| RSI (14)Momentum oscillator 0–100 | 35.4 | 38.5 | 41.3 |
| Avg Volume (50D)Average daily shares traded | 246K | 19K | 50K |
Analyst Outlook
Evenly matched — GEL and CAPL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: GEL as "Buy", MMLP as "Buy", CAPL as "Hold". For income investors, CAPL offers the higher dividend yield at 9.86% vs MMLP's 0.80%.
| Metric | |||
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | $20.00 | — | — |
| # AnalystsCovering analysts | 16 | 11 | 15 |
| Dividend YieldAnnual dividend ÷ price | +4.0% | +0.8% | +9.9% |
| Dividend StreakConsecutive years of raises | 3 | 2 | 2 |
| Dividend / ShareAnnual DPS | $0.66 | $0.02 | $2.10 |
| Buyback YieldShare repurchases ÷ mkt cap | +13.0% | 0.0% | 0.0% |
GEL leads in 2 of 6 categories (Income & Cash Flow, Total Returns). CAPL leads in 2 (Profitability & Efficiency, Risk & Volatility). 2 tied.
GEL vs MMLP vs CAPL: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is GEL or MMLP or CAPL a better buy right now?
For growth investors, Martin Midstream Partners L.
P. (MMLP) is the stronger pick with 1. 2% revenue growth year-over-year, versus -45. 0% for Genesis Energy, L. P. (GEL). CrossAmerica Partners LP (CAPL) offers the better valuation at 19. 5x trailing P/E (49. 5x forward), making it the more compelling value choice. Analysts rate Genesis Energy, L. P. (GEL) a "Buy" — based on 16 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — GEL or MMLP or CAPL?
On forward P/E, Genesis Energy, L.
P. is actually cheaper at 20. 9x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — GEL or MMLP or CAPL?
Over the past 5 years, Genesis Energy, L.
P. (GEL) delivered a total return of +109. 0%, compared to +14. 4% for Martin Midstream Partners L. P. (MMLP). Over 10 years, the gap is even starker: CAPL returned +87. 5% versus MMLP's -57. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — GEL or MMLP or CAPL?
By beta (market sensitivity over 5 years), CrossAmerica Partners LP (CAPL) is the lower-risk stock at 0.
06β versus Martin Midstream Partners L. P. 's 0. 39β — meaning MMLP is approximately 595% more volatile than CAPL relative to the S&P 500.
05Which is growing faster — GEL or MMLP or CAPL?
By revenue growth (latest reported year), Martin Midstream Partners L.
P. (MMLP) is pulling ahead at 1. 2% versus -45. 0% for Genesis Energy, L. P. (GEL). On earnings-per-share growth, the picture is similar: CrossAmerica Partners LP grew EPS 109. 6% year-over-year, compared to -184. 6% for Martin Midstream Partners L. P.. Over a 3-year CAGR, CAPL leads at -9. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — GEL or MMLP or CAPL?
CrossAmerica Partners LP (CAPL) is the more profitable company, earning 1.
1% net margin versus -2. 0% for Martin Midstream Partners L. P. — meaning it keeps 1. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GEL leads at 15. 8% versus 5. 6% for CAPL. At the gross margin level — before operating expenses — GEL leads at 21. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is GEL or MMLP or CAPL more undervalued right now?
On forward earnings alone, Genesis Energy, L.
P. (GEL) trades at 20. 9x forward P/E versus 49. 5x for CrossAmerica Partners LP — 28. 7x cheaper on a one-year earnings basis.
08Which pays a better dividend — GEL or MMLP or CAPL?
All stocks in this comparison pay dividends.
CrossAmerica Partners LP (CAPL) offers the highest yield at 9. 9%, versus 0. 8% for Martin Midstream Partners L. P. (MMLP).
09Is GEL or MMLP or CAPL better for a retirement portfolio?
For long-horizon retirement investors, CrossAmerica Partners LP (CAPL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
06), 9. 9% yield). Both have compounded well over 10 years (CAPL: +87. 5%, MMLP: -57. 7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between GEL and MMLP and CAPL?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: GEL is a small-cap income-oriented stock; MMLP is a small-cap quality compounder stock; CAPL is a small-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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