EQT Corporation vs PEMBINA PIPELINE CORPORATION, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Neither name is priced for aggressive growth, but the multiples split on stability: Pembina at 24 times earnings for contracted pipeline throughput, EQT at 10 for gas-price-exposed production. EQT's 60.3% operating margin dwarfs Pembina's 36.1%, low-cost Appalachian gas against midstream tolls, and EQT nets 31.9% of revenue to Pembina's 21.8%. Yet Pembina earns a steadier 10.1% on equity to EQT's 11.4%, near-matched, its contracted cash flows smoothing the cycle. Both run light-to-no debt and yield solid free cash. The pair prices a natural-gas producer against a pipeline; EQT's fatter margin rides the gas price, Pembina's thinner one arrives contracted, and the market pays a large premium for the toll's predictability.
Comparison updated 2026-07-11.
| Metric | EQT | PBA |
|---|---|---|
| Price | $52.70 | $47.20 |
| Market cap | $33.2B | $27.4B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | -2.7% |
| P/E | 10.0 | 24.0 |
| P/B | 1.15 | 2.22 |
| P/S | 3.22 | 4.80 |
| EV/EBITDA | 5.3 | 13.2 |
| Revenue growth | +90.6% | +2.8% |
| Gross margin | — | 41.0% |
| Operating margin | 60.3% | 36.1% |
| Net margin | 31.9% | 21.8% |
| Return on equity | 11.4% | 10.1% |
| Return on assets | 7.9% | 4.8% |
| Return on invested capital | 10.6% | 12.9% |
| FCF yield | 12.2% | 8.8% |
| Dividend yield | 1.2% | — |
| Debt / equity | 0.23 | 0.00 |
| Current ratio | 0.66 | 0.61 |
| Altman Z (solvency) | 2.11 | 1.64 |
| Piotroski F (quality) | 7 / 9 | 5 / 9 |
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.