Stock BTE BAYTEX ENERGY CORP.
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Financials Baytex Energy Corp.

Equities

BTE

CA07317Q1054

Oil & Gas Exploration and Production

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
5.36 CAD +0.56% Intraday chart for Baytex Energy Corp. +7.20% +22.37%
Apr. 18 Bureau of Land Management Finalizes Public Lands Rule Over Opposition From Mining, Energy Companies MT
Apr. 17 Baytex Energy's Outperform Rating, $7.25 Price Target Confirmed by National Bank of Canada MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,044 387.2 2,206 3,318 3,610 4,402 - -
Enterprise Value (EV) 1 2,886 2,180 3,594 4,250 5,982 6,464 5,920 6,765
P/E ratio -93.5 x -0.16 x 1.39 x 4 x -13.3 x 4.42 x 4.19 x 35.7 x
Yield - - - - - 1.69% 1.69% 1.68%
Capitalization / Revenue 0.58 x 0.4 x 1.18 x 1.15 x 1.07 x 1.12 x 1.07 x 1.41 x
EV / Revenue 1.6 x 2.24 x 1.92 x 1.47 x 1.77 x 1.65 x 1.44 x 2.17 x
EV / EBITDA 2.93 x 5.46 x 4.26 x 2.26 x 8.65 x 2.98 x 2.71 x 4.55 x
EV / FCF 10.4 x 30.9 x 9.06 x 6.55 x 25 x 8.11 x 6.6 x -
FCF Yield 9.65% 3.23% 11% 15.3% 4.01% 12.3% 15.1% -
Price to Book 0.35 x 0.67 x - - - - - -
Nbr of stocks (in thousands) 558,233 561,163 564,213 545,725 824,268 821,322 - -
Reference price 2 1.870 0.6900 3.910 6.080 4.380 5.360 5.360 5.360
Announcement Date 3/4/20 2/24/21 2/24/22 2/23/23 2/28/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,806 975.5 1,868 2,889 3,383 3,923 4,110 3,124
EBITDA 1 984.3 399.5 843 1,883 691.1 2,171 2,184 1,487
EBIT 1 252.6 -86.87 - 1,296 -356.8 950.1 759 313.8
Operating Margin 13.99% -8.91% - 44.85% -10.55% 24.22% 18.47% 10.04%
Earnings before Tax (EBT) 1 -78.92 -2,599 1,695 890.9 -516.6 760.3 589.4 145.5
Net income 1 -12.46 -2,439 1,614 855.6 -233.4 585.4 453.8 109.1
Net margin -0.69% -250.03% 86.37% 29.62% -6.9% 14.92% 11.04% 3.49%
EPS 2 -0.0200 -4.350 2.820 1.520 -0.3300 1.212 1.280 0.1500
Free Cash Flow 1 278.4 70.48 396.6 648.8 239.6 796.7 896.8 -
FCF margin 15.42% 7.22% 21.23% 22.46% 7.08% 20.31% 21.82% -
FCF Conversion (EBITDA) 28.29% 17.64% 47.05% 34.46% 34.67% 36.69% 41.07% -
FCF Conversion (Net income) - - 24.58% 75.83% - 136.09% 197.61% -
Dividend per Share 2 - - - - - 0.0905 0.0904 0.0900
Announcement Date 3/4/20 2/24/21 2/24/22 2/23/23 2/28/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 - - - - - 649 555.3 598.8 1,163 1,066 923.5 951.4 973.5 982 -
EBITDA 1 198.8 237.7 303.6 370.8 219.2 610.8 252.5 241 552.5 -354.8 501.3 507 530 537 464
EBIT 1 - - - - - 451 86.46 64.85 232.7 -740.8 220.5 228.6 247.1 253.9 -
Operating Margin - - - - - 69.49% 15.57% 10.83% 20.01% -69.53% 23.88% 24.03% 25.38% 25.86% -
Earnings before Tax (EBT) 1 - - - - - 394.3 68.08 36.59 176.2 -797.5 170.2 181 200.7 208.4 -
Net income 1 - - - - - 352.8 51.44 213.6 127.4 -625.8 131.1 139.4 154.5 160.5 -
Net margin - - - - - 54.36% 9.26% 35.67% 10.96% -58.73% 14.2% 14.65% 15.87% 16.34% -
EPS 2 - - 0.1000 0.3200 0.4700 0.6400 0.0900 0.3600 0.1500 -0.7500 0.2667 0.1700 0.1900 0.2100 -
Dividend per Share 2 - - - - - - - - - - 0.0209 0.0209 0.0210 0.0211 -
Announcement Date 11/4/21 2/24/22 4/28/22 7/27/22 11/3/22 2/23/23 5/4/23 7/27/23 11/2/23 2/28/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,842 1,793 1,387 932 2,371 2,062 1,518 2,363
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.871 x 4.488 x 1.646 x 0.4948 x 3.431 x 0.9497 x 0.6951 x 1.589 x
Free Cash Flow 1 278 70.5 397 649 240 797 897 -
ROE (net income / shareholders' equity) -0.42% -138% 116% 32.6% - 13.6% 10.9% -
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 5.290 1.030 - - - - - -
Cash Flow per Share 2 1.620 0.5600 1.300 2.070 2.260 2.440 2.600 1.630
Capex 1 557 283 316 524 1,056 1,264 1,294 1,350
Capex / Sales 30.82% 28.97% 16.9% 18.14% 31.22% 32.21% 31.49% 43.21%
Announcement Date 3/4/20 2/24/21 2/24/22 2/23/23 2/28/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Baytex Energy Corp.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
5.36 CAD
Average target price
6.475 CAD
Spread / Average Target
+20.80%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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