Overview Dividends

(BTE) Baytex Energy - Ratings and Ratios

Exchange: NYSE • Country: Canada • Currency: USD • Type: Common Stock • ISIN: CA07317Q1054

Crude Oil, Natural Gas, Condensate, Heavy Oil

Oil & Gas Exploration & Production
Market Cap in USD: 2,401m

IPO / Inception: 2006-03-27
Return 12m vs S&P 500: 14.8%

EPS (Earnings per Share)

EPS CAGR: -3.23%
EPS Trend: -34.0%

Last SUE: -0.03
Qual. Beats: 0

Revenue

Rev. CAGR: 14.82%
Rev. Trend: 63.7%

Last SUE: 0.62
Qual. Beats: 0

Dividends

Dividend Yield	2.14%
Yield on Cost 5y	12.81%
Yield CAGR 5y	94.12%
Payout Consistency	52.5%
Payout Ratio	26.5%

Risk via 5d forecast
Volatility	46.5%
Value at Risk 5%th	73.8%
Relative Tail Risk	-3.47%

Reward TTM
Sharpe Ratio	0.76
Alpha	16.83
CAGR/Max DD	-0.09

Character TTM
Hurst Exponent	0.423
Beta	1.585
Beta Downside	2.366

Drawdowns 3y
Max DD	66.76%
Mean DD	31.16%
Median DD	28.70%

Description: BTE Baytex Energy November 13, 2025

Baytex Energy Corp. (NYSE:BTE) is a Calgary-based upstream producer that acquires, develops, and operates oil-and-gas assets in the Western Canadian Sedimentary Basin (WCSB) and the Eagle Ford shale in Texas. Its commodity mix includes light oil and condensate, heavy oil, natural-gas liquids (NGLs), and dry natural gas, with primary land holdings in the Viking and Lloydminster fields (Alberta/Saskatchewan) and the Peace River and Duvernay formations (Alberta), plus a minority interest in the Eagle Ford play.

As of its 2023 annual report, Baytex generated approximately 95,000 barrels of oil-equivalent per day (boe/d), a 5% increase year-over-year driven largely by higher Duvernay output and modest Eagle Ford ramp-up. The company reported adjusted EBITDA of $820 million and a net debt-to-EBITDA ratio of 2.1×, indicating moderate leverage relative to peers. Key economic levers for Baytex include Canadian crude differentials (the “C-differential”), which have narrowed to around $15 per barrel in Q3 2024, and U.S. shale NGL price strength, which supports its liquids-heavy portfolio. A sector-wide driver is the ongoing transition to lower-carbon energy; Baytex has pledged to reduce its emissions intensity by 15% by 2027, aligning with broader ESG expectations in the E&P space.

For a deeper, data-driven assessment of Baytex’s valuation metrics and scenario analysis, you may find the research tools on ValueRay useful.

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (214.6m TTM) > 0 and > 6% of Revenue (6% = 229.8m TTM)

FCFTA 0.06 (>2.0%) and ΔFCFTA -2.04pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -6.96% (prev -5.65%; Δ -1.31pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.23 (>3.0%) and CFO 1.73b > Net Income 214.6m (YES >=105%, WARN >=100%)

Net Debt (2.00b) to EBITDA (1.82b) ratio: 1.10 <= 3.0 (WARN <= 3.5)

Current Ratio 0.58 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (773.2m) change vs 12m ago -3.38% (target <= -2.0% for YES)

Gross Margin 27.02% (prev 36.31%; Δ -9.29pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 50.35% (prev 47.07%; Δ 3.28pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 3.64 (EBITDA TTM 1.82b / Interest Expense TTM 142.1m) >= 6 (WARN >= 3)

Altman Z'' 0.02

(A) -0.04 = (Total Current Assets 375.5m - Total Current Liabilities 642.1m) / Total Assets 7.60b

(B) -0.42 = Retained Earnings (Balance) -3.22b / Total Assets 7.60b

(D) 1.11 = Book Value of Equity 3.80b / Total Liabilities 3.41b

Total Rating: 0.02 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 61.83

1. Piotroski 5.50pt

2. FCF Yield 7.94%

3. FCF Margin 10.96%

4. Debt/Equity 0.48

5. Debt/Ebitda 1.10

6. ROIC - WACC (= -2.32)%

7. RoE 5.16%

8. Rev. Trend 63.72%

9. EPS Trend -34.04%

What is the price of BTE shares?

As of December 31, 2025, the stock is trading at USD 3.24 with a total of 12,186,975 shares traded.
Over the past week, the price has changed by +2.53%, over one month by +1.29%, over three months by +34.22% and over the past year by +35.69%.

Is BTE a buy, sell or hold?

Baytex Energy has received a consensus analysts rating of 3.60. Therefor, it is recommend to hold BTE.

Strong Buy: 2
Buy: 2
Hold: 6
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the BTE price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	2.5	-21.9%
Analysts Target Price	2.5	-21.9%
ValueRay Target Price	3.5	6.5%

BTE Fundamental Data Overview December 27, 2025

Market Cap CAD = 3.28b (2.40b USD * 1.3665 USD.CAD)
P/E Trailing = 15.6
P/E Forward = 57.8035
P/S = 0.7854
P/B = 0.7931
P/EG = -0.98
Beta = 1.03
Revenue TTM = 3.83b CAD
EBIT TTM = 517.3m CAD
EBITDA TTM = 1.82b CAD
Long Term Debt = 1.98b CAD (from longTermDebt, last quarter)
Short Term Debt = 11.1m CAD (from shortTermDebt, last quarter)
Debt = 2.01b CAD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.00b CAD (from netDebt column, last quarter)
Enterprise Value = 5.28b CAD (3.28b + Debt 2.01b - CCE 10.4m)
Interest Coverage Ratio = 3.64 (Ebit TTM 517.3m / Interest Expense TTM 142.1m)
FCF Yield = 7.94% (FCF TTM 419.8m / Enterprise Value 5.28b)
FCF Margin = 10.96% (FCF TTM 419.8m / Revenue TTM 3.83b)
Net Margin = 5.60% (Net Income TTM 214.6m / Revenue TTM 3.83b)
Gross Margin = 27.02% ((Revenue TTM 3.83b - Cost of Revenue TTM 2.80b) / Revenue TTM)
Gross Margin QoQ = 22.35% (prev 36.62%)
Tobins Q-Ratio = 0.70 (Enterprise Value 5.28b / Total Assets 7.60b)
Interest Expense / Debt = 2.18% (Interest Expense 43.9m / Debt 2.01b)
Taxrate = 31.99% (15.0m / 47.0m)
NOPAT = 351.8m (EBIT 517.3m * (1 - 31.99%))
Current Ratio = 0.58 (Total Current Assets 375.5m / Total Current Liabilities 642.1m)
Debt / Equity = 0.48 (Debt 2.01b / totalStockholderEquity, last quarter 4.19b)
Debt / EBITDA = 1.10 (Net Debt 2.00b / EBITDA 1.82b)
Debt / FCF = 4.77 (Net Debt 2.00b / FCF TTM 419.8m)
Total Stockholder Equity = 4.16b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.82% (Net Income 214.6m / Total Assets 7.60b)
RoE = 5.16% (Net Income TTM 214.6m / Total Stockholder Equity 4.16b)
RoCE = 8.42% (EBIT 517.3m / Capital Employed (Equity 4.16b + L.T.Debt 1.98b))
RoIC = 5.60% (NOPAT 351.8m / Invested Capital 6.29b)
WACC = 7.91% (E(3.28b)/V(5.29b) * Re(11.86%) + D(2.01b)/V(5.29b) * Rd(2.18%) * (1-Tc(0.32)))
Discount Rate = 11.86% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -3.74%
[DCF Debug] Terminal Value 70.04% ; FCFE base≈482.2m ; Y1≈594.8m ; Y5≈1.01b
Fair Price DCF = 12.52 (DCF Value 9.62b / Shares Outstanding 768.3m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: -34.04 | EPS CAGR: -3.23% | SUE: -0.03 | # QB: 0
Revenue Correlation: 63.72 | Revenue CAGR: 14.82% | SUE: 0.62 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.01 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=0.28 | Chg30d=+0.000 | Revisions Net=+0 | Growth EPS=-11.3% | Growth Revenue=-56.1%

Additional Sources for BTE Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle