BAYTEX ENERGY CORP (BTE.CA) Stock Fundamental Analysis
TSX:BTE - Toronto Stock Exchange - CA07317Q1054 - Common Stock - Currency: CAD
We assign a fundamental rating of 5 out of 10 to BTE. BTE was compared to 209 industry peers in the Oil, Gas & Consumable Fuels industry. Both the profitability and the financial health of BTE get a neutral evaluation. Nothing too spectacular is happening here. BTE is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
BTE had positive earnings in the past year.
In the past year BTE had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: BTE reported negative net income in multiple years.
Each year in the past 5 years BTE had a positive operating cash flow.
1.2 Ratios
With a decent Return On Assets value of 4.09%, BTE is doing good in the industry, outperforming 75.60% of the companies in the same industry.
BTE has a Return On Equity of 7.62%. This is in the better half of the industry: BTE outperforms 61.72% of its industry peers.
With a decent Return On Invested Capital value of 7.36%, BTE is doing good in the industry, outperforming 75.60% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for BTE is in line with the industry average of 7.47%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.09% | ||
| ROE | 7.62% | ||
| ROIC | 7.36% |
ROA(3y)5.56%
ROA(5y)-4.3%
ROE(3y)9.27%
ROE(5y)-64.21%
ROIC(3y)8.42%
ROIC(5y)N/A
1.3 Margins
BTE has a Profit Margin of 9.57%. This is in the better half of the industry: BTE outperforms 63.16% of its industry peers.
BTE's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 24.87%, BTE is in the better half of the industry, outperforming 74.64% of the companies in the same industry.
BTE's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 81.22%, BTE belongs to the top of the industry, outperforming 94.74% of the companies in the same industry.
In the last couple of years the Gross Margin of BTE has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 24.87% | ||
| PM (TTM) | 9.57% | ||
| GM | 81.22% |
OM growth 3Y-12.27%
OM growth 5Y17.02%
PM growth 3Y-59.31%
PM growth 5YN/A
GM growth 3Y1.18%
GM growth 5Y1.87%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BTE is creating some value.
Compared to 1 year ago, BTE has less shares outstanding
BTE has more shares outstanding than it did 5 years ago.
The debt/assets ratio for BTE has been reduced compared to a year ago.
2.2 Solvency
BTE has an Altman-Z score of 0.45. This is a bad value and indicates that BTE is not financially healthy and even has some risk of bankruptcy.
BTE has a Altman-Z score (0.45) which is comparable to the rest of the industry.
The Debt to FCF ratio of BTE is 3.21, which is a good value as it means it would take BTE, 3.21 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 3.21, BTE belongs to the top of the industry, outperforming 81.34% of the companies in the same industry.
A Debt/Equity ratio of 0.52 indicates that BTE is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.52, BTE perfoms like the industry average, outperforming 46.41% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 3.21 | ||
| Altman-Z | 0.45 |
ROIC/WACC0.89
WACC8.25%
2.3 Liquidity
BTE has a Current Ratio of 0.63. This is a bad value and indicates that BTE is not financially healthy enough and could expect problems in meeting its short term obligations.
BTE has a worse Current ratio (0.63) than 70.33% of its industry peers.
A Quick Ratio of 0.63 indicates that BTE may have some problems paying its short term obligations.
BTE has a Quick ratio (0.63) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.63 | ||
| Quick Ratio | 0.63 |
3. Growth
3.1 Past
BTE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 253.85%, which is quite impressive.
Measured over the past years, BTE shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -32.67% on average per year.
The Revenue has grown by 10.55% in the past year. This is quite good.
BTE shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 17.51% yearly.
EPS 1Y (TTM)253.85%
EPS 3Y-32.67%
EPS 5YN/A
EPS Q2Q%550%
Revenue 1Y (TTM)10.55%
Revenue growth 3Y29.61%
Revenue growth 5Y17.51%
Sales Q2Q%1.52%
3.2 Future
The Earnings Per Share is expected to decrease by -32.26% on average over the next years. This is quite bad
BTE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.69% yearly.
EPS Next Y-7.71%
EPS Next 2Y-86.8%
EPS Next 3Y-32.26%
EPS Next 5YN/A
Revenue Next Year10.28%
Revenue Next 2Y-1.32%
Revenue Next 3Y-0.46%
Revenue Next 5Y1.69%
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 6.10 indicates a rather cheap valuation of BTE.
89.00% of the companies in the same industry are more expensive than BTE, based on the Price/Earnings ratio.
BTE is valuated cheaply when we compare the Price/Earnings ratio to 26.53, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 483.17 indicates a quite expensive valuation of BTE.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BTE is on the same level as its industry peers.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.27, BTE is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.1 | ||
| Fwd PE | 483.17 |
4.2 Price Multiples
BTE's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. BTE is cheaper than 95.22% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BTE indicates a rather cheap valuation: BTE is cheaper than 97.13% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 2.74 | ||
| EV/EBITDA | 1.85 |
4.3 Compensation for Growth
The decent profitability rating of BTE may justify a higher PE ratio.
BTE's earnings are expected to decrease with -32.26% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-86.8%
EPS Next 3Y-32.26%
5. Dividend
5.1 Amount
BTE has a Yearly Dividend Yield of 3.85%.
BTE's Dividend Yield is a higher than the industry average which is at 6.54.
Compared to an average S&P500 Dividend Yield of 2.39, BTE pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.85% |
5.2 History
The dividend of BTE decreases each year by -45.77%.
BTE has been paying a dividend for at least 10 years, so it has a reliable track record.
BTE has decreased its dividend recently.
Dividend Growth(5Y)-45.77%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
22.10% of the earnings are spent on dividend by BTE. This is a low number and sustainable payout ratio.
The Dividend Rate of BTE has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP22.1%
EPS Next 2Y-86.8%
EPS Next 3Y-32.26%
TSX:BTE (6/6/2025, 7:00:00 PM)
2.44
+0.1 (+4.27%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners27.6%
Inst Owner ChangeN/A
Ins Owners0.84%
Ins Owner ChangeN/A
Market Cap1.88B
Analysts72.86
Price Target4.41 (80.74%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.85% |
Yearly Dividend0.09
Dividend Growth(5Y)-45.77%
DP22.1%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-86.86%
Min EPS beat(2)-151.21%
Max EPS beat(2)-22.51%
EPS beat(4)0
Avg EPS beat(4)-55.34%
Min EPS beat(4)-151.21%
Max EPS beat(4)-19.55%
EPS beat(8)1
Avg EPS beat(8)-92.41%
EPS beat(12)4
Avg EPS beat(12)-20.72%
EPS beat(16)5
Avg EPS beat(16)14.79%
Revenue beat(2)1
Avg Revenue beat(2)3.16%
Min Revenue beat(2)-0.39%
Max Revenue beat(2)6.7%
Revenue beat(4)2
Avg Revenue beat(4)3.65%
Min Revenue beat(4)-0.39%
Max Revenue beat(4)8.33%
Revenue beat(8)5
Avg Revenue beat(8)1.06%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-11.73%
PT rev (3m)-22.07%
EPS NQ rev (1m)-76.92%
EPS NQ rev (3m)-80.65%
EPS NY rev (1m)0%
EPS NY rev (3m)-26.39%
Revenue NQ rev (1m)-17.44%
Revenue NQ rev (3m)-22.3%
Revenue NY rev (1m)0%
Revenue NY rev (3m)18.93%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.1 | ||
| Fwd PE | 483.17 | ||
| P/S | 0.56 | ||
| P/FCF | 2.74 | ||
| P/OCF | 0.96 | ||
| P/B | 0.45 | ||
| P/tB | 0.45 | ||
| EV/EBITDA | 1.85 |
EPS(TTM)0.4
EY16.39%
EPS(NY)0.01
Fwd EY0.21%
FCF(TTM)0.89
FCFY36.5%
OCF(TTM)2.54
OCFY104.27%
SpS4.35
BVpS5.47
TBVpS5.47
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.09% | ||
| ROE | 7.62% | ||
| ROCE | 11.62% | ||
| ROIC | 7.36% | ||
| ROICexc | 7.37% | ||
| ROICexgc | 7.37% | ||
| OM | 24.87% | ||
| PM (TTM) | 9.57% | ||
| GM | 81.22% | ||
| FCFM | 20.47% |
ROA(3y)5.56%
ROA(5y)-4.3%
ROE(3y)9.27%
ROE(5y)-64.21%
ROIC(3y)8.42%
ROIC(5y)N/A
ROICexc(3y)8.44%
ROICexc(5y)N/A
ROICexgc(3y)8.44%
ROICexgc(5y)N/A
ROCE(3y)13.28%
ROCE(5y)N/A
ROICexcg growth 3Y-2.67%
ROICexcg growth 5Y31.22%
ROICexc growth 3Y-2.67%
ROICexc growth 5Y31.22%
OM growth 3Y-12.27%
OM growth 5Y17.02%
PM growth 3Y-59.31%
PM growth 5YN/A
GM growth 3Y1.18%
GM growth 5Y1.87%
F-Score8
Asset Turnover0.43
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 3.21 | ||
| Debt/EBITDA | 1 | ||
| Cap/Depr | 93.35% | ||
| Cap/Sales | 38% | ||
| Interest Coverage | 3.81 | ||
| Cash Conversion | 89.16% | ||
| Profit Quality | 213.81% | ||
| Current Ratio | 0.63 | ||
| Quick Ratio | 0.63 | ||
| Altman-Z | 0.45 |
F-Score8
WACC8.25%
ROIC/WACC0.89
Cap/Depr(3y)94.96%
Cap/Depr(5y)82.19%
Cap/Sales(3y)33.65%
Cap/Sales(5y)31.28%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)253.85%
EPS 3Y-32.67%
EPS 5YN/A
EPS Q2Q%550%
EPS Next Y-7.71%
EPS Next 2Y-86.8%
EPS Next 3Y-32.26%
EPS Next 5YN/A
Revenue 1Y (TTM)10.55%
Revenue growth 3Y29.61%
Revenue growth 5Y17.51%
Sales Q2Q%1.52%
Revenue Next Year10.28%
Revenue Next 2Y-1.32%
Revenue Next 3Y-0.46%
Revenue Next 5Y1.69%
EBIT growth 1Y20.69%
EBIT growth 3Y13.71%
EBIT growth 5Y37.51%
EBIT Next Year83.55%
EBIT Next 3Y11.46%
EBIT Next 5Y10.2%
FCF growth 1Y23.48%
FCF growth 3Y14.4%
FCF growth 5Y16.36%
OCF growth 1Y68.77%
OCF growth 3Y38.88%
OCF growth 5Y17.98%