IMPERIAL OIL LIMITED vs YPF Sociedad Anonima, two Oil & Gas Refining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The single figure that defines this pair is the sign on net margin: Imperial Oil positive 6.2%, YPF negative 4.3%, two integrated producer-refiners on opposite sides of profitability, one under stable Canadian-and-Exxon governance, the other under Argentine macro and state influence. Imperial earns 12.8% on equity and pays a 1.9% dividend at 26.1 times earnings; YPF posts negative 7.2% returns with no usable multiple. Both carry near-zero net debt; both show large free-cash figures, Imperial's 5.2% clean, YPF's 27.9% a suppressed-denominator artifact. The pair prices integrated oil under two jurisdictions, one that lets the business function normally and one that has not; Imperial is a functioning franchise, YPF an option on its country's recovery.
Comparison updated 2026-07-11.
| Metric | IMO | YPF |
|---|---|---|
| Price | $113.36 | $45.38 |
| Market cap | $55.0B | $17.8B |
| Sector | Oil & Gas Refining | Oil & Gas Refining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | +12.0% | +2.1% |
| P/E | 26.1 | — |
| P/B | 3.29 | 1.61 |
| P/S | 1.59 | 0.96 |
| EV/EBITDA | 30.1 | 9.7 |
| Revenue growth | -9.1% | +9.1% |
| Gross margin | — | 27.6% |
| Operating margin | — | 9.4% |
| Net margin | 6.2% | -4.3% |
| Return on equity | 12.8% | -7.2% |
| Return on assets | 6.4% | -2.7% |
| Return on invested capital | — | 12.4% |
| FCF yield | 5.2% | 27.9% |
| Dividend yield | 1.9% | — |
| Debt / equity | 0.15 | 0.00 |
| Current ratio | 1.23 | 0.87 |
| Altman Z (solvency) | 3.74 | 1.36 |
| Piotroski F (quality) | 6 / 9 | 4 / 9 |
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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.