(BTE) Baytex Energy - Overview
Sector: Energy | Industry: Oil & Gas E&P | Exchange: NYSE (USA) | Market Cap: 3.697m USD | Total Return: 228.3% in 12m
Avg Turnover: 107M
Qual. Beats: -1
Rev. Trend: -47.8%
Qual. Beats: 0
Warnings
Interest Coverage Ratio 0.3 is critical
Altman Z'' -1.51 < 1.0 - financial distress zone
Tailwinds
Leader, Tailwind, Pullback 52w
Baytex Energy Corp. (BTE) is a Calgary-based oil and gas exploration and production company focused on the Western Canadian Sedimentary Basin. The firm develops and manages a diverse portfolio of energy assets, including light oil, condensate, heavy oil, and natural gas liquids. Its core operations are concentrated in the Duvernay and Peace River regions of Alberta, as well as the Lloydminster area spanning Alberta and Saskatchewan.
The company operates within the upstream sector, where profitability is dictated by the differential between global benchmark prices (such as WTI) and the regional Western Canadian Select (WCS) heavy oil price. Baytex utilizes a mix of horizontal drilling and thermal recovery techniques to extract resources from mature basins and shale formations. You can further evaluate these operational metrics and regional price impacts on ValueRay.
- WTI crude oil price fluctuations directly impact heavy and light oil margins
- Eagle Ford production levels determine free cash flow and debt reduction capacity
- Capital expenditure efficiency in Duvernay and Peace River plays drives reserve growth
- Western Canadian Select price differentials influence profitability of heavy oil assets
- Regulatory shifts in Canadian carbon policy affect long-term operating costs and valuation
| Net Income: -739.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -2.85 > 1.0 |
| NWC/Revenue: 101.6% < 20% (prev -7.34%; Δ 108.9% < -1%) |
| CFO/TA 0.36 > 3% & CFO 1.18b > Net Income -739.6m |
| Net Debt (-555.4m) to EBITDA (388.2m): -1.43 < 3 |
| Current Ratio: 2.15 > 1.5 & < 3 |
| Outstanding Shares: last quarter (747.2m) vs 12m ago -3.50% < -2% |
| Gross Margin: -15.41% > 18% (prev 0.28%; Δ -1.57k% > 0.5%) |
| Asset Turnover: 9.54% > 50% (prev 42.66%; Δ -33.12% > 0%) |
| Interest Coverage Ratio: 0.33 > 6 (EBITDA TTM 388.2m / Interest Expense TTM 187.1m) |
| A: 0.16 (Total Current Assets 1.00b - Total Current Liabilities 466.9m) / Total Assets 3.26b |
| B: -1.28 (Retained Earnings -4.19b / Total Assets 3.26b) |
| C: 0.01 (EBIT TTM 61.7m / Avg Total Assets 5.54b) |
| D: 1.45 (Book Value of Equity 1.63b / Total Liabilities 1.12b) |
| Altman-Z'' = -1.51 = D |
| DSRI: 3.15 (Receivables 195.5m/391.9m, Revenue 528.8m/3.34b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 2.59 (AQ_t 0.07 / AQ_t-1 0.03) |
| SGI: 0.16 (Revenue 528.8m / 3.34b) |
| TATA: -0.59 (NI -739.6m - CFO 1.18b) / TA 3.26b) |
| Beneish M = -1.52 (Cap -4..+1) = CCC |
As of May 24, 2026, the stock is trading at USD 5.11 with a total of 24,882,775 shares traded.
Over the past week, the price has changed by -0.39%,
over one month by +15.21%,
over three months by +38.62% and
over the past year by +228.28%.
Baytex Energy has received a consensus analysts rating of 3.73. Therefore, it is recommended to hold BTE.
- StrongBuy: 3
- Buy: 3
- Hold: 4
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 5.1 | -0.2% |
P/E Forward = 29.6736
P/S = 2.5244
P/B = 2.4835
P/EG = -0.98
Revenue TTM = 528.8m CAD
EBIT TTM = 61.7m CAD
EBITDA TTM = 388.2m CAD
Long Term Debt = 87.6m CAD (from longTermDebt, last quarter)
Short Term Debt = 9.46m CAD (from shortTermDebt, last quarter)
Debt = 204.4m CAD (from shortLongTermDebtTotal, last quarter) + Leases 58.2m
Net Debt = -555.4m CAD (calculated: Debt 204.4m - CCE 759.8m)
Enterprise Value = 4.53b CAD (5.08b + Debt 204.4m - CCE 759.8m)
Interest Coverage Ratio = 0.33 (Ebit TTM 61.7m / Interest Expense TTM 187.1m)
EV/FCF = 23.54x (Enterprise Value 4.53b / FCF TTM 192.3m)
FCF Yield = 4.25% (FCF TTM 192.3m / Enterprise Value 4.53b)
FCF Margin = 36.37% (FCF TTM 192.3m / Revenue TTM 528.8m)
Net Margin = -139.9% (Net Income TTM -739.6m / Revenue TTM 528.8m)
Gross Margin = -15.41% ((Revenue TTM 528.8m - Cost of Revenue TTM 610.3m) / Revenue TTM)
Gross Margin QoQ = 22.84% (prev none%)
Tobins Q-Ratio = 1.39 (Enterprise Value 4.53b / Total Assets 3.26b)
Interest Expense / Debt = 91.55% (Interest Expense 187.1m / Debt 204.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = 48.8m (EBIT 61.7m * (1 - 21.00%))
Current Ratio = 2.15 (Total Current Assets 1.00b / Total Current Liabilities 466.9m)
Debt / Equity = 0.10 (Debt 204.4m / totalStockholderEquity, last quarter 2.14b)
Debt / EBITDA = -1.43 (Net Debt -555.4m / EBITDA 388.2m)
Debt / FCF = -2.89 (Net Debt -555.4m / FCF TTM 192.3m)
Total Stockholder Equity = 3.20b (last 4 quarters mean from totalStockholderEquity)
RoA = -13.34% (Net Income -739.6m / Total Assets 3.26b)
RoE = -10.01% (Net Income TTM -739.6m / Total Stockholder Equity 7.39b)
RoCE = 0.83% (EBIT 61.7m / Capital Employed (Equity 7.39b + L.T.Debt 87.6m))
RoIC = 1.76% (NOPAT 48.8m / Invested Capital 2.77b)
WACC = 9.39% (E(5.08b)/V(5.29b) * Re(9.77%) + (debt cost/tax rate unavailable))
Discount Rate = 9.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -94.39 | Cagr: -4.79%
[DCF] Terminal Value 69.29% ; FCFF base≈389.3m ; Y1≈341.4m ; Y5≈275.8m
[DCF] Fair Price = 5.99 (EV 3.78b - Net Debt -555.4m = Equity 4.33b / Shares 723.4m; r=9.39% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.95 | # QB: -1
Revenue Correlation: -47.76 | Revenue CAGR: -27.03% | SUE: 0.09 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.08 | Chg30d=+0.00% | Revisions=+20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.15 | Chg30d=+0.00% | Revisions=+20% | Analysts=1
EPS current Year (2026-12-31): EPS=0.38 | Chg30d=-14.61% | Revisions=-33% | GrowthEPS=+458.8% | GrowthRev=-44.5%
EPS next Year (2027-12-31): EPS=0.37 | Chg30d=-9.76% | Revisions=-33% | GrowthEPS=-2.6% | GrowthRev=-14.3%
[Analyst] Revisions Ratio: -33%