Oil & Gas Midstream
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NGL vs GEL
Revenue, margins, valuation, and 5-year total return — side by side.
Oil & Gas Midstream
NGL vs GEL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $2.03B | $2.06B |
| Revenue (TTM) | $3.03B | $1.63B |
| Net Income (TTM) | $159M | $-440M |
| Gross Margin | 46.8% | 21.1% |
| Operating Margin | 13.3% | 15.8% |
| Forward P/E | 48.3x | 21.3x |
| Total Debt | $3.08B | $3.05B |
| Cash & Equiv. | $6M | $6M |
NGL vs GEL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| NGL Energy Partners… (NGL) | 100 | 321.8 | +221.8% |
| Genesis Energy, L.P. (GEL) | 100 | 210.0 | +110.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: NGL vs GEL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
NGL carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth -16.5%, EPS growth 72.0%, 3Y rev CAGR -24.1%
- 81.6% 10Y total return vs GEL's -5.3%
- Beta 0.67, yield 14.1%, current ratio 1.30x
GEL is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 3 yrs, beta 0.32, yield 3.9%
- Lower volatility, beta 0.32, current ratio 0.98x
- Lower P/E (21.3x vs 48.3x)
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | -16.5% revenue growth vs GEL's -45.0% | |
| Value | Lower P/E (21.3x vs 48.3x) | |
| Quality / Margins | 5.3% margin vs GEL's -27.0% | |
| Stability / Safety | Beta 0.32 vs NGL's 0.67, lower leverage | |
| Dividends | 14.1% yield, 2-year raise streak, vs GEL's 3.9% | |
| Momentum (1Y) | +438.0% vs GEL's +27.0% | |
| Efficiency (ROA) | 3.6% ROA vs GEL's -8.9%, ROIC 6.4% vs 4.0% |
NGL vs GEL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
NGL vs GEL — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
NGL leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
NGL is the larger business by revenue, generating $3.0B annually — 1.9x GEL's $1.6B. NGL is the more profitable business, keeping 5.3% of every revenue dollar as net income compared to GEL's -27.0%.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $3.0B | $1.6B |
| EBITDAEarnings before interest/tax | $672M | $496M |
| Net IncomeAfter-tax profit | $159M | -$440M |
| Free Cash FlowCash after capex | $291M | $71M |
| Gross MarginGross profit ÷ Revenue | +46.8% | +21.1% |
| Operating MarginEBIT ÷ Revenue | +13.3% | +15.8% |
| Net MarginNet income ÷ Revenue | +5.3% | -27.0% |
| FCF MarginFCF ÷ Revenue | +9.6% | +4.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | -41.3% | -39.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +4.2% | +107.1% |
Valuation Metrics
Evenly matched — NGL and GEL each lead in 3 of 6 comparable metrics.
Valuation Metrics
On an enterprise value basis, NGL's 8.6x EV/EBITDA is more attractive than GEL's 10.4x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $2.0B | $2.1B |
| Enterprise ValueMkt cap + debt − cash | $5.1B | $5.1B |
| Trailing P/EPrice ÷ TTM EPS | -27.35x | -23.07x |
| Forward P/EPrice ÷ next-FY EPS est. | 48.26x | 21.32x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 8.57x | 10.41x |
| Price / SalesMarket cap ÷ Revenue | 0.59x | 1.26x |
| Price / BookPrice ÷ Book value/share | 3.11x | 2.91x |
| Price / FCFMarket cap ÷ FCF | 39.34x | 23.34x |
Profitability & Efficiency
NGL leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
NGL delivers a 132.6% return on equity — every $100 of shareholder capital generates $133 in annual profit, vs $-61 for GEL. GEL carries lower financial leverage with a 4.30x debt-to-equity ratio, signaling a more conservative balance sheet compared to NGL's 4.42x. On the Piotroski fundamental quality scale (0–9), NGL scores 7/9 vs GEL's 4/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +132.6% | -61.3% |
| ROA (TTM)Return on assets | +3.6% | -8.9% |
| ROICReturn on invested capital | +6.4% | +4.0% |
| ROCEReturn on capital employed | +8.3% | +5.0% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 4 |
| Debt / EquityFinancial leverage | 4.42x | 4.30x |
| Net DebtTotal debt minus cash | $3.1B | $3.0B |
| Cash & Equiv.Liquid assets | $6M | $6M |
| Total DebtShort + long-term debt | $3.1B | $3.0B |
| Interest CoverageEBIT ÷ Interest expense | 2.15x | 1.02x |
Total Returns (Dividends Reinvested)
NGL leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in NGL five years ago would be worth $77,042 today (with dividends reinvested), compared to $21,295 for GEL. Over the past 12 months, NGL leads with a +438.0% total return vs GEL's +27.0%. The 3-year compound annual growth rate (CAGR) favors NGL at 81.2% vs GEL's 23.3% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +65.8% | +8.3% |
| 1-Year ReturnPast 12 months | +438.0% | +27.0% |
| 3-Year ReturnCumulative with dividends | +494.6% | +87.4% |
| 5-Year ReturnCumulative with dividends | +670.4% | +113.0% |
| 10-Year ReturnCumulative with dividends | +81.6% | -5.3% |
| CAGR (3Y)Annualised 3-year return | +81.2% | +23.3% |
Risk & Volatility
Evenly matched — NGL and GEL each lead in 1 of 2 comparable metrics.
Risk & Volatility
GEL is the less volatile stock with a 0.32 beta — it tends to amplify market swings less than NGL's 0.67 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. NGL currently trades 98.9% from its 52-week high vs GEL's 90.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.67x | 0.32x |
| 52-Week HighHighest price in past year | $16.59 | $18.64 |
| 52-Week LowLowest price in past year | $2.90 | $13.21 |
| % of 52W HighCurrent price vs 52-week peak | +98.9% | +90.3% |
| RSI (14)Momentum oscillator 0–100 | 68.0 | 42.7 |
| Avg Volume (50D)Average daily shares traded | 249K | 242K |
Analyst Outlook
Evenly matched — NGL and GEL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates NGL as "Hold" and GEL as "Buy". Consensus price targets imply 18.8% upside for GEL (target: $20) vs -87.8% for NGL (target: $2). For income investors, NGL offers the higher dividend yield at 14.09% vs GEL's 3.92%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $2.00 | $20.00 |
| # AnalystsCovering analysts | 17 | 16 |
| Dividend YieldAnnual dividend ÷ price | +14.1% | +3.9% |
| Dividend StreakConsecutive years of raises | 2 | 3 |
| Dividend / ShareAnnual DPS | $2.31 | $0.66 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.1% | +12.7% |
NGL leads in 3 of 6 categories — strongest in Income & Cash Flow and Profitability & Efficiency. 3 categories are tied.
NGL vs GEL: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is NGL or GEL a better buy right now?
For growth investors, NGL Energy Partners LP (NGL) is the stronger pick with -16.
5% revenue growth year-over-year, versus -45. 0% for Genesis Energy, L. P. (GEL). 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 is the better long-term investment — NGL or GEL?
Over the past 5 years, NGL Energy Partners LP (NGL) delivered a total return of +670.
4%, compared to +113. 0% for Genesis Energy, L. P. (GEL). Over 10 years, the gap is even starker: NGL returned +81. 6% versus GEL's -5. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — NGL or GEL?
By beta (market sensitivity over 5 years), Genesis Energy, L.
P. (GEL) is the lower-risk stock at 0. 32β versus NGL Energy Partners LP's 0. 67β — meaning NGL is approximately 108% more volatile than GEL relative to the S&P 500. On balance sheet safety, Genesis Energy, L. P. (GEL) carries a lower debt/equity ratio of 4% versus 4% for NGL Energy Partners LP — giving it more financial flexibility in a downturn.
04Which is growing faster — NGL or GEL?
By revenue growth (latest reported year), NGL Energy Partners LP (NGL) is pulling ahead at -16.
5% versus -45. 0% for Genesis Energy, L. P. (GEL). On earnings-per-share growth, the picture is similar: NGL Energy Partners LP grew EPS 72. 0% year-over-year, compared to 41. 1% for Genesis Energy, L. P.. Over a 3-year CAGR, GEL leads at -16. 4% 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.
05Which has better profit margins — NGL or GEL?
NGL Energy Partners LP (NGL) is the more profitable company, earning 1.
1% net margin versus -0. 5% for Genesis Energy, 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 9. 5% for NGL. 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.
06Is NGL or GEL more undervalued right now?
On forward earnings alone, Genesis Energy, L.
P. (GEL) trades at 21. 3x forward P/E versus 48. 3x for NGL Energy Partners LP — 26. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for GEL: 18. 8% to $20. 00.
07Which pays a better dividend — NGL or GEL?
All stocks in this comparison pay dividends.
NGL Energy Partners LP (NGL) offers the highest yield at 14. 1%, versus 3. 9% for Genesis Energy, L. P. (GEL).
08Is NGL or GEL better for a retirement portfolio?
For long-horizon retirement investors, Genesis Energy, L.
P. (GEL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 32), 3. 9% yield). Both have compounded well over 10 years (GEL: -5. 3%, NGL: +81. 6%), 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.
09What are the main differences between NGL and GEL?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
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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