BAYTEX ENERGY CORP (BTE.CA) Stock Fundamental Analysis
TSX:BTE - Toronto Stock Exchange - CA07317Q1054 - Common Stock - Currency: CAD
Overall BTE gets a fundamental rating of 5 out of 10. We evaluated BTE against 218 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 may be a bit undervalued, certainly considering the very reasonable score on growth
1. Profitability
1.1 Basic Checks
In the past year BTE was profitable.
In the past year BTE had a positive cash flow from operations.
In multiple years BTE reported negative net income over the last 5 years.
In the past 5 years BTE always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.05%, BTE is in the better half of the industry, outperforming 69.72% of the companies in the same industry.
The Return On Equity of BTE (5.67%) is better than 60.09% of its industry peers.
BTE has a Return On Invested Capital of 6.79%. This is in the better half of the industry: BTE outperforms 75.69% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BTE is in line with the industry average of 7.29%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.05% | ||
| ROE | 5.67% | ||
| ROIC | 6.79% |
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 better Profit Margin (7.11%) than 61.47% of its industry peers.
BTE's Profit Margin has declined in the last couple of years.
With a decent Operating Margin value of 23.14%, BTE is doing good in the industry, outperforming 75.23% of the companies in the same industry.
In the last couple of years the Operating Margin of BTE has grown nicely.
BTE has a better Gross Margin (80.36%) than 93.12% of its industry peers.
BTE's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.14% | ||
| PM (TTM) | 7.11% | ||
| GM | 80.36% |
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
BTE has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for BTE has been reduced compared to 1 year ago.
The number of shares outstanding for BTE has been increased compared to 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 0.41. 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 (0.41) which is comparable to the rest of the industry.
BTE has a debt to FCF ratio of 3.84. This is a good value and a sign of high solvency as BTE would need 3.84 years to pay back of all of its debts.
The Debt to FCF ratio of BTE (3.84) is better than 80.73% of its industry peers.
A Debt/Equity ratio of 0.54 indicates that BTE is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.54, BTE perfoms like the industry average, outperforming 43.12% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.54 | ||
| Debt/FCF | 3.84 | ||
| Altman-Z | 0.41 |
ROIC/WACC0.74
WACC9.16%
2.3 Liquidity
A Current Ratio of 0.78 indicates that BTE may have some problems paying its short term obligations.
BTE has a Current ratio of 0.78. This is comparable to the rest of the industry: BTE outperforms 52.75% of its industry peers.
A Quick Ratio of 0.78 indicates that BTE may have some problems paying its short term obligations.
BTE has a Quick ratio (0.78) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.78 | ||
| Quick Ratio | 0.78 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 293.33% over the past year.
The earnings per share for BTE have been decreasing by -32.67% on average. This is quite bad
The Revenue has grown by 22.71% in the past year. This is a very strong growth!
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)293.33%
EPS 3Y-32.67%
EPS 5YN/A
EPS Q2Q%93.33%
Revenue 1Y (TTM)22.71%
Revenue growth 3Y29.61%
Revenue growth 5Y17.51%
Sales Q2Q%21.52%
3.2 Future
BTE is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -32.26% yearly.
The Revenue is expected to grow by 1.69% on average over the next years.
EPS Next Y-7.71%
EPS Next 2Y-86.8%
EPS Next 3Y-32.26%
EPS Next 5YN/A
Revenue Next Year11.05%
Revenue Next 2Y1.79%
Revenue Next 3Y-0.46%
Revenue Next 5Y1.69%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
BTE is valuated cheaply with a Price/Earnings ratio of 7.83.
Based on the Price/Earnings ratio, BTE is valued a bit cheaper than the industry average as 77.52% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of BTE to the average of the S&P500 Index (28.22), we can say BTE is valued rather cheaply.
A Price/Forward Earnings ratio of 8.48 indicates a reasonable valuation of BTE.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BTE indicates a somewhat cheap valuation: BTE is cheaper than 64.68% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of BTE to the average of the S&P500 Index (20.86), we can say BTE is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.83 | ||
| Fwd PE | 8.48 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BTE is valued cheaply inside the industry as 95.87% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BTE indicates a rather cheap valuation: BTE is cheaper than 96.79% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 2.94 | ||
| EV/EBITDA | 1.86 |
4.3 Compensation for Growth
BTE has a very decent profitability rating, which 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
With a Yearly Dividend Yield of 3.95%, BTE has a reasonable but not impressive dividend return.
In the last 3 months the price of BTE has falen by -34.96%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
Compared to an average industry Dividend Yield of 7.45, BTE pays a bit more dividend than its industry peers.
BTE's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.95% |
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.
The dividend of BTE decreased recently.
Dividend Growth(5Y)-45.77%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
30.43% 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.
DP30.43%
EPS Next 2Y-86.8%
EPS Next 3Y-32.26%
TSX:BTE (5/2/2025, 7:00:00 PM)
2.27
+0.01 (+0.44%)
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 Cap1.75B
Analysts72.86
Price Target5 (120.26%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.95% |
Yearly Dividend0.09
Dividend Growth(5Y)-45.77%
DP30.43%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-89.65%
Min EPS beat(2)-151.21%
Max EPS beat(2)-28.09%
EPS beat(4)0
Avg EPS beat(4)-78.84%
Min EPS beat(4)-151.21%
Max EPS beat(4)-19.55%
EPS beat(8)1
Avg EPS beat(8)-93.74%
EPS beat(12)4
Avg EPS beat(12)-22.47%
EPS beat(16)5
Avg EPS beat(16)10.07%
Revenue beat(2)0
Avg Revenue beat(2)-0.21%
Min Revenue beat(2)-0.39%
Max Revenue beat(2)-0.04%
Revenue beat(4)2
Avg Revenue beat(4)3.36%
Min Revenue beat(4)-0.39%
Max Revenue beat(4)8.33%
Revenue beat(8)4
Avg Revenue beat(8)-1.79%
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)-11.71%
PT rev (3m)-17.33%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-6.67%
EPS NY rev (1m)0%
EPS NY rev (3m)-41.11%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-5.38%
Revenue NY rev (1m)19.76%
Revenue NY rev (3m)17.65%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 7.83 | ||
| Fwd PE | 8.48 | ||
| P/S | 0.53 | ||
| P/FCF | 2.94 | ||
| P/OCF | 0.92 | ||
| P/B | 0.42 | ||
| P/tB | 0.42 | ||
| EV/EBITDA | 1.86 |
EPS(TTM)0.29
EY12.78%
EPS(NY)0.27
Fwd EY11.79%
FCF(TTM)0.77
FCFY33.97%
OCF(TTM)2.48
OCFY109.17%
SpS4.32
BVpS5.42
TBVpS5.42
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.05% | ||
| ROE | 5.67% | ||
| ROCE | 10.72% | ||
| ROIC | 6.79% | ||
| ROICexc | 6.81% | ||
| ROICexgc | 6.81% | ||
| OM | 23.14% | ||
| PM (TTM) | 7.11% | ||
| GM | 80.36% | ||
| FCFM | 17.84% |
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 | 0.54 | ||
| Debt/FCF | 3.84 | ||
| Debt/EBITDA | 1.05 | ||
| Cap/Depr | 94.84% | ||
| Cap/Sales | 39.49% | ||
| Interest Coverage | 3.85 | ||
| Cash Conversion | 88.5% | ||
| Profit Quality | 251% | ||
| Current Ratio | 0.78 | ||
| Quick Ratio | 0.78 | ||
| Altman-Z | 0.41 |
F-Score8
WACC9.16%
ROIC/WACC0.74
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)293.33%
EPS 3Y-32.67%
EPS 5YN/A
EPS Q2Q%93.33%
EPS Next Y-7.71%
EPS Next 2Y-86.8%
EPS Next 3Y-32.26%
EPS Next 5YN/A
Revenue 1Y (TTM)22.71%
Revenue growth 3Y29.61%
Revenue growth 5Y17.51%
Sales Q2Q%21.52%
Revenue Next Year11.05%
Revenue Next 2Y1.79%
Revenue Next 3Y-0.46%
Revenue Next 5Y1.69%
EBIT growth 1Y19.76%
EBIT growth 3Y13.71%
EBIT growth 5Y37.51%
EBIT Next Year86.99%
EBIT Next 3Y10.68%
EBIT Next 5Y10.2%
FCF growth 1Y147.83%
FCF growth 3Y14.4%
FCF growth 5Y16.36%
OCF growth 1Y47.27%
OCF growth 3Y38.88%
OCF growth 5Y17.98%