Boardwalk Pipeline Partners Lp's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Boardwalk Pipeline Partners Lp (BWP) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Boardwalk Pipeline Partners Lp vs Its Competitors
- TTM: Trailing 12-month revenue of 2,421M vs 360M combined for tracked competitors (87.1% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (+1.4% annualized vs trailing 12 months), vs decelerating (-38.8%) for its tracked peer group.
- Growth: Boardwalk Pipeline Partners Lp generated 13.4% revenue growth year over year in Q3 2026, vs -45.4% for its tracked competitors combined.
- Profitability: Its 18.8% net margin compares with -58.2% for the peer group.
- Peer revenue share: Boardwalk Pipeline Partners Lp accounted for 91.8% of combined revenue among its tracked peer group, up from 84.3% a year earlier.
- Peer differentiation: Revenue per employee of $1.84M compares with $1.56M for the peer group (1.2x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
BWP Sales vs. its Competitors, Q3 2026
Boardwalk Pipeline Partners Lp reported revenue growth of 13.44 % year on year in Q3 2026, above its competitors' combined revenue change of -45.39 %.
With a net margin of 18.79 %, Boardwalk Pipeline Partners Lp achieved higher profitability than its competitors (-58.24 %).
Boardwalk Pipeline Partners Lp generated 91.76 % of the combined sales of its peer group, up from 84.28 % a year earlier.
API endpoints for this dataset
Boardwalk Pipeline Partners Lp vs. its Competitors, Q3 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Boardwalk Pipeline Partners Lp reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Boardwalk Pipeline Partners Lp and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Boardwalk Pipeline Partners Lp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Boardwalk Pipeline Partners Lp's competitor groups requires a Commercial License.
For context: the Natural Gas Utilities industry grew revenue 43.4% year over year, combined, vs 13.4% for Boardwalk Pipeline Partners Lp. Boardwalk Pipeline Partners Lp's share of combined industry revenue moved from 0.26% to 0.21%, a loss of 0.05 percentage points.
Boardwalk Pipeline Partners Lp's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Boardwalk Pipeline Partners Lp | Yes | Yes | Yes | No |
| Competitors combined (1) | ||||
| High-Confidence Competitors (6) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
BWP Stock Performance relative to its Competitors
BWP Stock Performance relative to High-Confidence Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Txo Partners L p | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Boardwalk Pipeline Partners Lp's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Boardwalk Pipeline Partners Lp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Boardwalk Pipeline Partners Lp | - | 2,421.30 |
| Txo Partners L p | 721.91 | 360.17 |
| SUBTOTAL | 721.91 | 2,781.47 |
Sources: Boardwalk Pipeline Partners Lp's official press releases and company reports; CSIMarket.com's market research; and the company reports and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Boardwalk Pipeline Partners Lp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Boardwalk Pipeline Partners Lp's Competitors Named by the Company
Competitive relationships identified from Boardwalk Pipeline Partners Lp reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Arch Capital Group Ltd | Company report | 85% |
| Skyward Specialty Insurance Group Inc | Company report | 85% |
| Boston Omaha Corp | Company report | 85% |
| Bowhead Specialty Holdings Inc | Company report | 85% |
| Amerinst Insurance Group Ltd | Company report | 85% |
| Open Lending Corporation | Company report | 85% |
| Power Reit | Company report | 85% |
| Moody s Corporation | Company report | 85% |
| W R Berkley Corp | Company report | 85% |
| Cincinnati Financial Corporation | Company report | 85% |
| Markel Group Inc | Company report | 85% |
| Alleghany Corp | Company report | 85% |
| Travelers Companies inc | Company report | 85% |
| Host Hotels and Resorts Inc | Company report | 85% |
| Hanover Insurance Group Inc | Company report | 85% |
| Assurant Inc | Company report | 85% |
| Caesars Entertainment inc | Company report | 85% |
| Hyatt Hotels Corporation | Company report | 85% |
| Mgm Resorts International | Company report | 85% |
| Reinsurance Group Of America Incorporated | Company report | 85% |
| Noble Corporation Plc | Company report | 85% |
| Axis Capital Holdings Limited | Company report | 85% |
| Allstate Corp | Company report | 85% |
| Safety Insurance Group Inc | Company report | 85% |
| Heritage Insurance Holdings Inc | Company report | 85% |
| The Hartford Insurance Group Inc | Company report | 85% |
| Sunstone Hotel Investors inc | Company report | 85% |
| Horace Mann Educators Corporation | Company report | 85% |
| Boyd Gaming Corp | Company report | 85% |
| Triple s Management Corporation | Company report | 85% |
| Progressive Corp | Company report | 85% |
| Aspen Insurance Holdings Limited | Company report | 85% |
| Enstar Group Ltd | Company report | 85% |
| United Fire Group Inc | Company report | 85% |
| Kemper Corporation | Company report | 85% |
| Genworth Financial Inc | Company report | 85% |
| Intercontinental Hotels Group Plc | Company report | 85% |
| National Western Life Group Inc | Company report | 85% |
| American Financial Group Inc | Company report | 85% |
| Metlife Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Boardwalk Pipeline Partners Lp's named competitors require a Commercial License.
Methodology: relationships are extracted from Boardwalk Pipeline Partners Lp reports (named-competitor disclosures) and corroborating sources. Confidence reflects evidence strength.
Boardwalk Pipeline Partners Lp's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Boardwalk Pipeline Partners Lp | Natural Gas Reportable 67.98 % |
| Txo Partners L p | Reportable Segment 100.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Boardwalk Pipeline Partners Lp's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Boardwalk Pipeline Partners Lp | - | 1,841,293 | 457,414 |
| Txo Partners L p | 722 | 1,559,190 | -319,935 |
| PEERS TOTAL | 722 | 1,559,190 | -319,935 |
Boardwalk Pipeline Partners Lp's Position in Industry Market Structure
Market-capitalization share and concentration across all 44 companies in Boardwalk Pipeline Partners Lp's industry classification, broader than the peer set above. Market cap in millions of $.Boardwalk Pipeline Partners Lp ranks #0 of 44 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 521, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Enbridge Inc | 103,434 | 10.56 % |
| 2 | Williams companies inc | 81,334 | 8.30 % |
| 3 | Enterprise Products Partners L p | 79,905 | 8.15 % |
| 4 | Kinder Morgan Inc | 67,685 | 6.91 % |
| 5 | Energy Transfer Lp | 1,234 | 5.2% |
| 6 | Tc Energy Corporation | 1,234 | 5.2% |
| 7 | Cheniere Energy Inc | 1,234 | 5.2% |
| 9 | Targa Resources Corp | 1,234 | 5.2% |
| 11 | Oneok Inc | 1,234 | 5.2% |
| 12 | Venture Global Inc | 1,234 | 5.2% |
| 0 | Boardwalk Pipeline Partners Lp | - | 0.00 % |
Market cap and industry share for the rest of Boardwalk Pipeline Partners Lp's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2018-07-17.
Boardwalk Pipeline Partners Lp's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Natural Gas Utilities industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (100 companies). See the full Natural Gas Utilities industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 86.35 % | 40.83 % (avg) | +45.5 pp |
| Operating Margin | 30.52 % | industry median | +0.8 pp |
| EBITDA Margin | 46.22 % | 30.84 % (avg) | +15.4 pp |
| Capital Intensity (Capex / Revenue) | 28.15 % | 21.08 % (avg) | +7.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Boardwalk Pipeline Partners Lp's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 1.18 % | -7.48 % | 5.84 % | 0.19 % | 14.15 % | 12.97 % | 25.37 % | 13.69 % |
| Operating Margin | 35.27 % | 33.87 % | 36.57 % | 35.03 % | 38.35 % | 32.53 % | 32.43 % | 32.09 % |
| Return on Invested Capital | 2.62 % | 2.25 % | 2.51 % | 2.85 % | 3.32 % | - | - | - |
| P/E | 11.7x | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Boardwalk Pipeline Partners Lp's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 521 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 28.15 % vs industry average 21.08 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Boardwalk Pipeline Partners Lp's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Boardwalk Pipeline Partners Lp's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Boardwalk Pipeline Partners Lp's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Boardwalk Pipeline Partners Lp falls in the Medium attractiveness / High strength cell: Invest / Grow.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Boardwalk Pipeline Partners Lp's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
- A meaningful share of tracked competitors (100.00 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-38.8% annualized).
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Boardwalk Pipeline Partners Lp's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Boardwalk Pipeline Partners Lp | 0.43 | 1.27 | 0.61 |
| Txo Partners L p | 0.19 | 0.67 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Boardwalk Pipeline Partners Lp's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Boardwalk Pipeline Partners Lp | Q3 2026 | +13.4 % | -9.1 % |
| Txo Partners L p | Q3 2026 | -45.4 % | - |
| PEERS TOTAL | +4.2 % | -36.6 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Boardwalk Pipeline Partners Lp's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Boardwalk Pipeline Partners Lp | Q3 2026 | +8.0 % | +105.7 % |
| Txo Partners L p | Q3 2026 | - | +85.2 % |
Boardwalk Pipeline Partners Lp's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Boardwalk Pipeline Partners Lp | 5.81% | 6.30% | 10.86% |
| Txo Partners L p | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Boardwalk Pipeline Partners Lp's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Boardwalk Pipeline Partners Lp | 12.17 | - |
| Txo Partners L p | - | 2.00 |
| PEERS AVERAGE | 1.37 | 0.26 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.