BAYTEX ENERGY CORP (BTE) Stock Fundamental Analysis
NYSE:BTE - CA07317Q1054 - Common Stock
2.23 USD
+0.02 (+0.9%)
2.22 USD
-0.01 (-0.45%)
Taking everything into account, BTE scores 4 out of 10 in our fundamental rating. BTE was compared to 209 industry peers in the Oil, Gas & Consumable Fuels industry. There are concerns on the financial health of BTE while its profitability can be described as average. BTE has a decent growth rate and is not valued too expensively.
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.
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
BTE has a better Return On Assets (4.87%) than 62.38% of its industry peers.
The Return On Equity of BTE (9.01%) is comparable to the rest of the industry.
Looking at the Return On Invested Capital, with a value of 6.34%, BTE is in line with its industry, outperforming 56.67% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for BTE is significantly below the industry average of 21.96%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.87% | ||
| ROE | 9.01% | ||
| ROIC | 6.34% |
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's Profit Margin of 11.64% is fine compared to the rest of the industry. BTE outperforms 60.48% of its industry peers.
BTE's Profit Margin has declined in the last couple of years.
BTE has a Operating Margin (21.97%) which is comparable to the rest of the industry.
BTE's Operating Margin has improved in the last couple of years.
With an excellent Gross Margin value of 80.34%, BTE belongs to the best of the industry, outperforming 90.95% 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 | 21.97% | ||
| PM (TTM) | 11.64% | ||
| GM | 80.34% |
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
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BTE is still creating some value.
Compared to 1 year ago, BTE has less shares outstanding
Compared to 5 years ago, BTE has more shares outstanding
Compared to 1 year ago, BTE has an improved debt to assets ratio.
2.2 Solvency
BTE has an Altman-Z score of 0.50. This is a bad value and indicates that BTE is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of BTE (0.50) is worse than 63.81% of its industry peers.
BTE has a debt to FCF ratio of 4.09. This is a neutral value as BTE would need 4.09 years to pay back of all of its debts.
BTE's Debt to FCF ratio of 4.09 is fine compared to the rest of the industry. BTE outperforms 71.43% 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 | 4.09 | ||
| Altman-Z | 0.5 |
ROIC/WACC0.76
WACC8.36%
2.3 Liquidity
A Current Ratio of 0.68 indicates that BTE may have some problems paying its short term obligations.
BTE's Current ratio of 0.68 is on the low side compared to the rest of the industry. BTE is outperformed by 78.57% of its industry peers.
BTE has a Quick Ratio of 0.68. This is a bad value and indicates that BTE is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.68, BTE is not doing good in the industry: 71.90% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.68 | ||
| Quick Ratio | 0.68 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 195.92% over the past year.
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.
BTE shows a decrease in Revenue. In the last year, the revenue decreased by -7.76%.
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)195.92%
EPS 3Y-32.67%
EPS 5YN/A
EPS Q2Q%53.85%
Revenue 1Y (TTM)-7.76%
Revenue growth 3Y29.61%
Revenue growth 5Y17.51%
Sales Q2Q%-21.76%
3.2 Future
The Earnings Per Share is expected to decrease by -25.99% on average over the next years. This is quite bad
The Revenue is expected to grow by 1.69% on average over the next years.
EPS Next Y-10.61%
EPS Next 2Y-26.92%
EPS Next 3Y-25.99%
EPS Next 5YN/A
Revenue Next Year5.41%
Revenue Next 2Y0.96%
Revenue Next 3Y-0.3%
Revenue Next 5Y1.69%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better 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
With a Price/Earnings ratio of 6.56, the valuation of BTE can be described as very cheap.
89.05% 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 27.13, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 19.80, BTE is valued on the expensive side.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BTE is on the same level as its industry peers.
BTE is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.76, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.56 | ||
| Fwd PE | 19.8 |
4.2 Price Multiples
BTE's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. BTE is cheaper than 95.24% of the companies in the same industry.
BTE's Price/Free Cash Flow ratio is rather cheap when compared to the industry. BTE is cheaper than 92.38% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.53 | ||
| EV/EBITDA | 2.21 |
4.3 Compensation for Growth
BTE's earnings are expected to decrease with -25.99% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-26.92%
EPS Next 3Y-25.99%
5. Dividend
5.1 Amount
BTE has a Yearly Dividend Yield of 2.96%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 6.06, BTE has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.32, BTE pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.96% |
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.
BTE has decreased its dividend recently.
Dividend Growth(5Y)-45.77%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
BTE pays out 19.01% of its income as dividend. This is a sustainable payout ratio.
BTE's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP19.01%
EPS Next 2Y-26.92%
EPS Next 3Y-25.99%
2.23
+0.02 (+0.9%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners32.77%
Inst Owner Change2.28%
Ins Owners0.67%
Ins Owner ChangeN/A
Market Cap1.71B
Analysts72.86
Price Target2.94 (31.84%)
Short Float %5.9%
Short Ratio0.94
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.96% |
Yearly Dividend0.07
Dividend Growth(5Y)-45.77%
DP19.01%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)268.78%
Min EPS beat(2)-22.51%
Max EPS beat(2)560.07%
EPS beat(4)1
Avg EPS beat(4)89.56%
Min EPS beat(4)-151.21%
Max EPS beat(4)560.07%
EPS beat(8)1
Avg EPS beat(8)-48.31%
EPS beat(12)4
Avg EPS beat(12)24.13%
EPS beat(16)6
Avg EPS beat(16)58.69%
Revenue beat(2)2
Avg Revenue beat(2)10.34%
Min Revenue beat(2)6.7%
Max Revenue beat(2)13.99%
Revenue beat(4)2
Avg Revenue beat(4)5.07%
Min Revenue beat(4)-0.39%
Max Revenue beat(4)13.99%
Revenue beat(8)5
Avg Revenue beat(8)2.43%
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)-0.35%
PT rev (3m)-8.58%
EPS NQ rev (1m)-200%
EPS NQ rev (3m)-128.57%
EPS NY rev (1m)-3.14%
EPS NY rev (3m)-3.14%
Revenue NQ rev (1m)-7.54%
Revenue NQ rev (3m)-20.9%
Revenue NY rev (1m)-4.41%
Revenue NY rev (3m)-4.41%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.56 | ||
| Fwd PE | 19.8 | ||
| P/S | 0.75 | ||
| P/FCF | 4.53 | ||
| P/OCF | 1.31 | ||
| P/B | 0.58 | ||
| P/tB | 0.58 | ||
| EV/EBITDA | 2.21 |
EPS(TTM)0.34
EY15.25%
EPS(NY)0.11
Fwd EY5.05%
FCF(TTM)0.49
FCFY22.06%
OCF(TTM)1.71
OCFY76.59%
SpS2.99
BVpS3.87
TBVpS3.87
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.87% | ||
| ROE | 9.01% | ||
| ROCE | 10% | ||
| ROIC | 6.34% | ||
| ROICexc | 6.34% | ||
| ROICexgc | 6.34% | ||
| OM | 21.97% | ||
| PM (TTM) | 11.64% | ||
| GM | 80.34% | ||
| FCFM | 16.44% |
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-Score7
Asset Turnover0.42
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.52 | ||
| Debt/FCF | 4.09 | ||
| Debt/EBITDA | 1.04 | ||
| Cap/Depr | 96.55% | ||
| Cap/Sales | 40.64% | ||
| Interest Coverage | 3.74 | ||
| Cash Conversion | 89.1% | ||
| Profit Quality | 141.26% | ||
| Current Ratio | 0.68 | ||
| Quick Ratio | 0.68 | ||
| Altman-Z | 0.5 |
F-Score7
WACC8.36%
ROIC/WACC0.76
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)195.92%
EPS 3Y-32.67%
EPS 5YN/A
EPS Q2Q%53.85%
EPS Next Y-10.61%
EPS Next 2Y-26.92%
EPS Next 3Y-25.99%
EPS Next 5YN/A
Revenue 1Y (TTM)-7.76%
Revenue growth 3Y29.61%
Revenue growth 5Y17.51%
Sales Q2Q%-21.76%
Revenue Next Year5.41%
Revenue Next 2Y0.96%
Revenue Next 3Y-0.3%
Revenue Next 5Y1.69%
EBIT growth 1Y-16.99%
EBIT growth 3Y13.71%
EBIT growth 5Y37.51%
EBIT Next Year83.55%
EBIT Next 3Y11.46%
EBIT Next 5Y10.2%
FCF growth 1Y66.22%
FCF growth 3Y14.4%
FCF growth 5Y16.36%
OCF growth 1Y82.07%
OCF growth 3Y38.88%
OCF growth 5Y17.98%