BAYTEX ENERGY CORP (BTE) Stock Fundamental Analysis
NYSE:BTE - New York Stock Exchange, Inc. - CA07317Q1054 - Common Stock - Currency: USD
Overall BTE gets a fundamental rating of 4 out of 10. We evaluated BTE against 211 industry peers in the Oil, Gas & Consumable Fuels industry. BTE has a medium profitability rating, but doesn't score so well on its financial health evaluation. 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.
BTE had a positive operating cash flow in the past year.
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
BTE has a Return On Assets (4.09%) which is in line with its industry peers.
Looking at the Return On Equity, with a value of 7.62%, BTE is in line with its industry, outperforming 49.76% of the companies in the same industry.
BTE has a better Return On Invested Capital (7.36%) than 62.09% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BTE is significantly below the industry average of 23.70%.
| 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
The Profit Margin of BTE (9.57%) is comparable to the rest of the industry.
BTE's Profit Margin has declined in the last couple of years.
BTE has a Operating Margin of 24.87%. This is comparable to the rest of the industry: BTE outperforms 57.82% of its industry peers.
In the last couple of years the Operating Margin of BTE has grown nicely.
With an excellent Gross Margin value of 81.22%, BTE belongs to the best of the industry, outperforming 91.47% of the companies in the same industry.
BTE's Gross Margin has improved in the last couple of years.
| 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.
Compared to 1 year ago, BTE has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.46, we must say that BTE is in the distress zone and has some risk of bankruptcy.
BTE has a worse Altman-Z score (0.46) than 65.88% of its industry peers.
BTE has a debt to FCF ratio of 3.21. This is a good value and a sign of high solvency as BTE would need 3.21 years to pay back of all of its debts.
The Debt to FCF ratio of BTE (3.21) is better than 77.73% of its industry peers.
A Debt/Equity ratio of 0.52 indicates that BTE is somewhat dependend on debt financing.
BTE has a Debt to Equity ratio (0.52) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 3.21 | ||
| Altman-Z | 0.46 |
ROIC/WACC0.93
WACC7.88%
2.3 Liquidity
A Current Ratio of 0.63 indicates that BTE may have some problems paying its short term obligations.
The Current ratio of BTE (0.63) is worse than 80.09% of its industry peers.
A Quick Ratio of 0.63 indicates that BTE may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.63, BTE is doing worse than 72.99% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.63 | ||
| Quick Ratio | 0.63 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 253.85% over the past year.
The earnings per share for BTE have been decreasing by -32.67% on average. This is quite bad
Looking at the last year, BTE shows a quite strong growth in Revenue. The Revenue has grown by 10.55% in the last year.
Measured over the past years, BTE shows a quite strong growth in Revenue. The Revenue has been growing by 17.51% on average per year.
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
Based on estimates for the next years, BTE will show a very negative growth in Earnings Per Share. The EPS will decrease by -32.26% on average per year.
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
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
A Price/Earnings ratio of 6.17 indicates a rather cheap valuation of BTE.
Compared to the rest of the industry, the Price/Earnings ratio of BTE indicates a rather cheap valuation: BTE is cheaper than 85.31% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.15, BTE is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 483.86, the valuation of BTE can be described as expensive.
BTE's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. BTE is more expensive than 71.09% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of BTE to the average of the S&P500 Index (21.60), we can say BTE is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.17 | ||
| Fwd PE | 483.86 |
4.2 Price Multiples
96.68% of the companies in the same industry are more expensive than BTE, based on the Enterprise Value to EBITDA ratio.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BTE indicates a rather cheap valuation: BTE is cheaper than 93.84% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 2.74 | ||
| EV/EBITDA | 1.87 |
4.3 Compensation for Growth
A cheap valuation may be justified as BTE's earnings are expected to decrease with -32.26% in the coming years.
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 3.59%.
Compared to an average industry Dividend Yield of 6.66, BTE has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.42, BTE pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.59% |
5.2 History
The dividend of BTE decreases each year by -45.77%.
BTE has paid a dividend for at least 10 years, which is 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
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%
1.79
-0.04 (-2.19%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners32.77%
Inst Owner Change19.14%
Ins Owners0.67%
Ins Owner ChangeN/A
Market Cap1.38B
Analysts72.86
Price Target2.97 (65.92%)
Short Float %9.98%
Short Ratio1.26
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.59% |
Yearly Dividend0.07
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)-7.68%
PT rev (3m)-22.7%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-76.92%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-17.44%
Revenue NY rev (1m)0%
Revenue NY rev (3m)18.93%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.17 | ||
| Fwd PE | 483.86 | ||
| P/S | 0.56 | ||
| P/FCF | 2.74 | ||
| P/OCF | 0.96 | ||
| P/B | 0.45 | ||
| P/tB | 0.45 | ||
| EV/EBITDA | 1.87 |
EPS(TTM)0.29
EY16.2%
EPS(NY)0
Fwd EY0.21%
FCF(TTM)0.65
FCFY36.45%
OCF(TTM)1.86
OCFY104.12%
SpS3.19
BVpS4
TBVpS4
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 | 0.46 |
F-Score8
WACC7.88%
ROIC/WACC0.93
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%