Baytex Energy Corp. (BTE) 10-Year Financial Performance & Capital Metrics

BTE • • Industrial / General

EnergyOil & Gas E&PConventional Onshore E&PMulti-Basin Diversified Operators

AboutBaytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas. It holds interest in the Eagle Ford property in Texas; Viking and Lloydminster properties in Alberta and Saskatchewan; and Peace River and Duvernay properties in Alberta. Baytex Energy Corp. was founded in 1993 and is headquartered in Calgary, Canada.Show more

Revenue $4.21B +24.4%
EBITDA $2.16B +27.5%
Net Income $237M +201.4%
EPS (Diluted) 0.30 +190.9%
Gross Margin 24.35% -5.2%
EBITDA Margin 51.23% +2.5%
Operating Margin 18.3% -3.7%
Net Margin 5.62% +181.5%
ROE 5.92% +186.9%
ROIC 9.14% -3.7%
Debt/Equity 0.55 -14.3%
Interest Coverage 3.74 -0.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 18.4%
✓Healthy dividend yield of 2.7%
✓Trading near 52-week high
✓Trading at only 0.6x book value

✗Weaknesses

✗Shares diluted 13.5% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.65%

5Y18.44%

3Y31.09%

TTM6.87%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-47.27%

TTM161.19%

EPS CAGR

10Y-

5Y-

3Y-52.62%

TTM169.25%

ROCE

10Y Avg6.64%

5Y Avg10.47%

3Y Avg14.06%

Latest10.93%

Peer Comparison

Multi-Basin Diversified Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CTRACoterra Energy Inc.	19.59B	25.73	17.04	-3.92%	23.47%	11.18%	5.23%	0.29
AMPYAmplify Energy Corp.	194.28M	4.80	15.48	-4.2%	-10.1%	-7.09%		0.32
CNQCanadian Natural Resources Limited	71.03B	34.10	11.96	-12.68%	15.49%	16.45%	11.4%	0.51
BTEBaytex Energy Corp.	2.6B	3.38	11.27	24.43%	5.6%	5.12%	22.87%	0.55
OVVOvintiv Inc.	10.12B	39.95	9.49	-15.91%	2.65%	2.31%	14.02%	0.61
DVNDevon Energy Corporation	22.78B	36.32	7.95	2.82%	16.11%	17.71%		0.63
CRGYCrescent Energy Company	2.76B	8.39	-9.53	23.01%	0.66%	0.53%		0.72

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.13B	780.1M	1.09B	1.43B	1.81B	975.48M	1.87B	2.89B	3.38B	4.21B
Revenue Growth %	-0.26%	-0.31%	0.4%	0.31%	0.26%	-0.46%	0.92%	0.55%	0.17%	0.24%
Cost of Goods Sold+	1.3B	965.01M	1.08B	1.29B	1.56B	1.06B	1.26B	1.81B	2.51B	3.18B
COGS % of Revenue	1.15%	1.24%	0.99%	0.9%	0.87%	1.08%	0.68%	0.63%	0.74%	0.76%
Gross Profit+	-174.56M	-184.91M	13.43M	139.14M	243.54M	-82.8M	603.51M	1.08B	869.28M	1.03B
Gross Margin %	-0.15%	-0.24%	0.01%	0.1%	0.13%	-0.08%	0.32%	0.37%	0.26%	0.24%
Gross Profit Growth %	-1.21%	-0.06%	1.07%	9.36%	0.75%	-1.34%	8.29%	0.79%	-0.19%	0.18%
Operating Expenses+	89.79M	76.9M	79.83M	98M	86.84M	66.73M	79.53M	125.25M	869.28M	254.76M
OpEx % of Revenue	0.08%	0.1%	0.07%	0.07%	0.05%	0.07%	0.04%	0.04%	0.26%	0.06%
Selling, General & Admin	74.75M	64.75M	62.9M	65.36M	61.36M	43.74M	51.93M	79.33M	107.49M	99.62M
SG&A % of Revenue	0.07%	0.08%	0.06%	0.05%	0.03%	0.04%	0.03%	0.03%	0.03%	0.02%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-8.15M	-2.22M	1.17M	25.48M	22.99M	27.59M	45.92M	761.8M	155.15M
Operating Income+	230.25M	246.02M	57.72M	38.45M	159.49M	-150.84M	521.68M	943.57M	643.19M	770.3M
Operating Margin %	0.2%	0.32%	0.05%	0.03%	0.09%	-0.15%	0.28%	0.33%	0.19%	0.18%
Operating Income Growth %	-0.41%	0.07%	-0.77%	-0.33%	3.15%	-1.95%	4.46%	0.81%	-0.32%	0.2%
EBITDA+	892.11M	760.5M	548.33M	608.05M	904.89M	344.52M	998.64M	1.55B	1.69B	2.16B
EBITDA Margin %	0.79%	0.97%	0.5%	0.43%	0.5%	0.35%	0.53%	0.54%	0.5%	0.51%
EBITDA Growth %	-0.04%	-0.15%	-0.28%	0.11%	0.49%	-0.62%	1.9%	0.55%	0.09%	0.28%
D&A (Non-Cash Add-back)	661.86M	514.48M	490.61M	569.6M	745.4M	495.36M	476.96M	602.73M	1.05B	1.39B
EBIT	-1.38B	-654.1M	31.23M	-322.76M	28.5M	-2.49B	1.79B	971.3M	-356.76M	579.39M
Net Interest Income+	-103.4M	-103.69M	-104.96M	-108.17M	-112.15M	-113.15M	-96.93M	-86.67M	-171.77M	-206.1M
Interest Income	0	0	0	0	112.15M	113.15M	96.93M	86.67M	0	0
Interest Expense	103.4M	103.69M	104.96M	108.17M	107.42M	106.53M	92.07M	80.39M	171.77M	206.1M
Other Income/Expense	-1.88B	-1.02B	-126.97M	-468.21M	-235.62M	-2.45B	1.17B	-62.19M	-1.16B	-397.01M
Pretax Income+	-1.48B	-757.79M	-69.25M	-427.08M	-78.92M	-2.6B	1.69B	890.91M	-516.58M	373.29M
Pretax Margin %	-1.31%	-0.97%	-0.06%	-0.3%	-0.04%	-2.66%	0.91%	0.31%	-0.15%	0.09%
Income Tax+	-344.15M	-272.6M	-156.43M	-101.77M	-66.46M	-160.39M	81.24M	35.31M	-283.23M	136.69M
Effective Tax Rate %	0.77%	0.64%	-1.26%	0.76%	0.16%	0.94%	0.95%	0.96%	0.45%	0.63%
Net Income+	-1.13B	-485.18M	87.17M	-325.31M	-12.46M	-2.44B	1.61B	855.61M	-233.36M	236.6M
Net Margin %	-1%	-0.62%	0.08%	-0.23%	-0.01%	-2.5%	0.86%	0.3%	-0.07%	0.06%
Net Income Growth %	-7.54%	0.57%	1.18%	-4.73%	0.96%	-194.76%	1.66%	-0.47%	-1.27%	2.01%
Net Income (Continuing)	-1.14B	-485.18M	87.17M	-325.31M	-12.46M	-2.44B	1.61B	855.61M	-233.36M	236.6M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-5.72	-2.29	0.37	-0.93	-0.02	-4.35	2.82	1.52	-0.33	0.30
EPS Growth %	-5.43%	0.6%	1.16%	-3.51%	0.98%	-193.2%	1.65%	-0.46%	-1.22%	1.91%
EPS (Basic)	-5.72	-2.29	0.37	-0.93	-0.02	-4.35	2.86	1.53	-0.33	0.29
Diluted Shares Outstanding	198.21M	212.3M	237.25M	351.54M	557.05M	560.66M	571.61M	563.84M	704.9M	800.22M
Basic Shares Outstanding	198.07M	211.87M	234.79M	349.79M	557.05M	560.66M	563.67M	557.99M	704.9M	805.3M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	0.3%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	204.91M	117.09M	131.35M	191.15M	184.77M	112.53M	182.06M	244.05M	440.02M	449.63M
Cash & Short-Term Investments	247K	2.71M	18.51M	79.58M	5.57M	-11.08M	-7.76M	5.46M	55.81M	16.61M
Cash Only	247K	2.71M	0	0	5.57M	-11.08M	-7.76M	5.46M	55.81M	16.61M
Short-Term Investments	0	0	18.51M	79.58M	0	0	0	0	0	0
Accounts Receivable	98.09M	112.17M	112.84M	111.56M	173.76M	107.48M	173.41M	200.91M	338.4M	387.27M
Days Sales Outstanding	31.69	52.48	37.73	28.5	35.12	40.22	33.88	25.38	36.52	33.58
Inventory	0	0	-18.51M	-79.58M	0	11.08M	7.76M	0	0	0
Days Inventory Outstanding	-	-	-	-	-	3.82	2.24	-	-	-
Other Current Assets	106.57M	2.22M	18.51M	79.58M	5.43M	5.06M	8.65M	31.3M	24.27M	45.75M
Total Non-Current Assets+	5.28B	4.48B	4.24B	6.19B	5.73B	3.3B	4.65B	4.86B	7.02B	7.31B
Property, Plant & Equipment	5.28B	4.48B	4.24B	6.19B	5.73B	3.29B	4.65B	4.8B	6.75B	7.08B
Fixed Asset Turnover	0.21x	0.17x	0.26x	0.23x	0.32x	0.30x	0.40x	0.60x	0.50x	0.59x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	4.42M	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0	0	0	0	274.87M	56.29M
Total Assets+	5.49B	4.59B	4.37B	6.38B	5.91B	3.41B	4.83B	5.1B	7.46B	7.76B
Asset Turnover	0.21x	0.17x	0.25x	0.22x	0.31x	0.29x	0.39x	0.57x	0.45x	0.54x
Asset Growth %	-0.12%	-0.16%	-0.05%	0.46%	-0.07%	-0.42%	0.42%	0.06%	0.46%	0.04%
Total Current Liabilities+	267.84M	151.01M	197.21M	260.1M	233.5M	198.86M	338.73M	288.53M	558.02M	573.73M
Accounts Payable	267.84M	112.97M	144.54M	258.11M	207.45M	155.96M	190.69M	227.33M	477.3M	512.47M
Days Payables Outstanding	74.95	42.73	48.94	73.05	48.47	53.79	55.04	45.83	69.32	58.75
Short-Term Debt	0	0	0	0	0	4.29M	2.94M	0	0	0
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K	1000K	0	0	0
Other Current Liabilities	0	38.04M	52.67M	0	8.67M	22.5M	131.08M	57.68M	67.34M	34.46M
Current Ratio	0.77x	0.78x	0.67x	0.73x	0.79x	0.57x	0.54x	0.85x	0.79x	0.78x
Quick Ratio	0.77x	0.78x	0.76x	1.04x	0.79x	0.51x	0.51x	0.85x	0.79x	0.78x
Cash Conversion Cycle	-	-	-	-	-	-9.75	-18.91	-	-	-
Total Non-Current Liabilities+	2.81B	2.46B	2.26B	3.06B	2.73B	2.63B	2.28B	1.78B	3.08B	3.02B
Long-Term Debt	1.85B	1.75B	1.69B	2.1B	1.83B	1.79B	1.38B	930.63M	2.41B	2.26B
Capital Lease Obligations	0	0	0	0	8.09M	6.79M	4.83M	3.02M	16.06M	15.46M
Deferred Tax Liabilities	655.25M	375.69M	204.7M	310.84M	235.31M	93.59M	167.46M	265.86M	21.33M	88.56M
Other Non-Current Liabilities	951.26M	707.21M	573.69M	957.73M	891.7M	835.36M	895.23M	851.18M	629.32M	653.75M
Total Liabilities	3.07B	2.62B	2.46B	3.32B	2.97B	2.83B	2.62B	2.07B	3.64B	3.59B
Total Debt+	1.85B	1.75B	1.69B	2.1B	1.85B	1.79B	1.39B	937.17M	2.44B	2.28B
Net Debt	1.85B	1.75B	1.69B	2.1B	1.84B	1.8B	1.4B	931.7M	2.38B	2.27B
Debt / Equity	0.77x	0.89x	0.88x	0.69x	0.63x	3.10x	0.63x	0.31x	0.64x	0.55x
Debt / EBITDA	2.08x	2.31x	3.08x	3.46x	2.04x	5.20x	1.39x	0.61x	1.44x	1.06x
Net Debt / EBITDA	2.08x	2.30x	3.08x	3.46x	2.04x	5.24x	1.40x	0.60x	1.41x	1.05x
Interest Coverage	2.23x	2.37x	0.55x	0.36x	1.48x	-1.42x	5.67x	11.74x	3.74x	3.74x
Total Equity+	2.41B	1.98B	1.91B	3.06B	2.95B	578.21M	2.21B	3.03B	3.83B	4.17B
Equity Growth %	-0.04%	-0.18%	-0.03%	0.6%	-0.04%	-0.8%	2.82%	0.37%	0.26%	0.09%
Book Value per Share	12.18	9.32	8.07	8.69	5.29	1.03	3.87	5.37	5.43	5.21
Total Shareholders' Equity	2.41B	1.98B	1.91B	3.06B	2.95B	578.21M	2.21B	3.03B	3.83B	4.17B
Common Stock	4.3B	4.42B	4.44B	5.7B	5.72B	5.73B	5.74B	5.5B	6.53B	6.14B
Retained Earnings	-2.59B	-3.09B	-3.01B	-3.33B	-3.35B	-5.78B	-4.17B	-3.32B	-3.59B	-3.42B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	705.38M	629.86M	463.1M	667.87M	556.22M	618.98M	632.1M	756.2M	690.92M	1.09B
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	549.42M	247.37M	325.21M	485.32M	834.94M	353.1M	712.38M	1.17B	1.3B	1.91B
Operating CF Margin %	0.49%	0.32%	0.3%	0.34%	0.46%	0.36%	0.38%	0.41%	0.38%	0.45%
Operating CF Growth %	-0.44%	-0.55%	0.31%	0.49%	0.72%	-0.58%	1.02%	0.65%	0.1%	0.47%
Net Income	-1.13B	-485.18M	87.17M	-325.31M	-12.46M	-2.44B	1.61B	855.61M	-233.36M	236.6M
Depreciation & Amortization	661.86M	508.31M	481.93M	558.68M	937.33M	2.87B	-985.77M	587.05M	2.02B	0
Stock-Based Compensation	24.57M	13.88M	15.51M	19.53M	15.89M	7.22M	6.39M	3.16M	37.7M	0
Deferred Taxes	-353.05M	-264.56M	-155.34M	-101.73M	-68.56M	-160.97M	79.97M	31.72M	-297.63M	114.93M
Other Non-Cash Items	1.32B	498.19M	-95.1M	294.7M	14.79M	23.62M	24.78M	-330.73M	-7.9M	1.57B
Working Capital Changes	43.89M	-23.27M	-8.96M	39.45M	-52.07M	48.76M	-26.58M	26.07M	-220.9M	-17.92M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-597.73M	-292.28M	-352.68M	-463.27M	-617.51M	-314.47M	-310.76M	-488.99M	-1.51B	-1.28B
Capital Expenditures	-523.11M	-224.9M	-398.15M	-498.23M	-556.51M	-282.62M	-315.77M	-524.04M	-1.06B	-1.31B
CapEx % of Revenue	0.46%	0.29%	0.36%	0.35%	0.31%	0.29%	0.17%	0.18%	0.31%	0.31%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-74.62M	-67.38M	45.47M	34.95M	-58.82M	-32.03M	-1.24M	9.4M	207.07M	35.12M
Cash from Financing+	46.45M	49.03M	24.77M	-22.05M	-211.86M	-44.2M	-401.62M	-678.42M	266.25M	-668.17M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-109.81M	0	0	0	0	0	0	0	-37.52M	-71.98M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	-755K	0	0	0	-2.14M	-43.49M	-18.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	26.31M	22.46M	-72.94M	-12.9M	278.43M	70.48M	396.62M	648.83M	239.61M	593.85M
FCF Margin %	0.02%	0.03%	-0.07%	-0.01%	0.15%	0.07%	0.21%	0.22%	0.07%	0.14%
FCF Growth %	-0.86%	-0.15%	-4.25%	0.82%	22.58%	-0.75%	4.63%	0.64%	-0.63%	1.48%
FCF per Share	0.13	0.11	-0.31	-0.04	0.50	0.13	0.69	1.15	0.34	0.74
FCF Conversion (FCF/Net Income)	-0.48x	-0.51x	3.73x	-1.49x	-67.01x	-0.14x	0.44x	1.37x	-5.55x	8.07x
Interest Paid	100.26M	104.18M	98.1M	0	112.24M	102.36M	93.11M	84.22M	153.22M	200.22M
Taxes Paid	12.06M	5.33M	49K	0	1.16M	1.16M	253K	2.3M	3.6M	19.43M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-46.07%	-22.09%	4.48%	-13.09%	-0.42%	-138.36%	115.69%	32.65%	-6.81%	5.92%
Return on Invested Capital (ROIC)	3.91%	4.61%	1.18%	0.66%	2.4%	-3.16%	13.07%	18.7%	9.48%	9.14%
Gross Margin	-15.45%	-23.7%	1.23%	9.74%	13.49%	-8.49%	32.3%	37.33%	25.7%	24.35%
Net Margin	-100.33%	-62.2%	7.99%	-22.77%	-0.69%	-250.03%	86.37%	29.62%	-6.9%	5.62%
Debt / Equity	0.77x	0.89x	0.88x	0.69x	0.63x	3.10x	0.63x	0.31x	0.64x	0.55x
Interest Coverage	2.23x	2.37x	0.55x	0.36x	1.48x	-1.42x	5.67x	11.74x	3.74x	3.74x
FCF Conversion	-0.48x	-0.51x	3.73x	-1.49x	-67.01x	-0.14x	0.44x	1.37x	-5.55x	8.07x
Revenue Growth	-26.15%	-30.96%	39.92%	30.9%	26.39%	-45.98%	91.52%	54.64%	17.08%	24.43%

Frequently Asked Questions

Valuation & Price

Baytex Energy Corp. (BTE) has a price-to-earnings (P/E) ratio of 11.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Baytex Energy Corp. (BTE) reported $3.83B in revenue for fiscal year 2024. This represents a 193% increase from $1.31B in 2011.

Baytex Energy Corp. (BTE) grew revenue by 24.4% over the past year. This is strong growth.

Yes, Baytex Energy Corp. (BTE) is profitable, generating $214.6M in net income for fiscal year 2024 (5.6% net margin).

Dividend & Returns

Yes, Baytex Energy Corp. (BTE) pays a dividend with a yield of 2.66%. This makes it attractive for income-focused investors.

Baytex Energy Corp. (BTE) has a return on equity (ROE) of 5.9%. This is below average, suggesting room for improvement.

Baytex Energy Corp. (BTE) generated $419.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Baytex Energy Corp. (BTE) 10-Year Financial Performance & Capital Metrics

BTE • • Industrial / General

EnergyOil & Gas E&PConventional Onshore E&PMulti-Basin Diversified Operators

Revenue $4.21B +24.4%
EBITDA $2.16B +27.5%
Net Income $237M +201.4%
EPS (Diluted) 0.30 +190.9%
Gross Margin 24.35% -5.2%
EBITDA Margin 51.23% +2.5%
Operating Margin 18.3% -3.7%
Net Margin 5.62% +181.5%
ROE 5.92% +186.9%
ROIC 9.14% -3.7%
Debt/Equity 0.55 -14.3%
Interest Coverage 3.74 -0.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 18.4%
✓Healthy dividend yield of 2.7%
✓Trading near 52-week high
✓Trading at only 0.6x book value

✗Weaknesses

✗Shares diluted 13.5% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.65%

5Y18.44%

3Y31.09%

TTM6.87%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-47.27%

TTM161.19%

EPS CAGR

10Y-

5Y-

3Y-52.62%

TTM169.25%

ROCE

10Y Avg6.64%

5Y Avg10.47%

3Y Avg14.06%

Latest10.93%

Peer Comparison

Multi-Basin Diversified Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CTRACoterra Energy Inc.	19.59B	25.73	17.04	-3.92%	23.47%	11.18%	5.23%	0.29
AMPYAmplify Energy Corp.	194.28M	4.80	15.48	-4.2%	-10.1%	-7.09%		0.32
CNQCanadian Natural Resources Limited	71.03B	34.10	11.96	-12.68%	15.49%	16.45%	11.4%	0.51
BTEBaytex Energy Corp.	2.6B	3.38	11.27	24.43%	5.6%	5.12%	22.87%	0.55
OVVOvintiv Inc.	10.12B	39.95	9.49	-15.91%	2.65%	2.31%	14.02%	0.61
DVNDevon Energy Corporation	22.78B	36.32	7.95	2.82%	16.11%	17.71%		0.63
CRGYCrescent Energy Company	2.76B	8.39	-9.53	23.01%	0.66%	0.53%		0.72

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.13B	780.1M	1.09B	1.43B	1.81B	975.48M	1.87B	2.89B	3.38B	4.21B
Revenue Growth %	-0.26%	-0.31%	0.4%	0.31%	0.26%	-0.46%	0.92%	0.55%	0.17%	0.24%
Cost of Goods Sold+	1.3B	965.01M	1.08B	1.29B	1.56B	1.06B	1.26B	1.81B	2.51B	3.18B
COGS % of Revenue	1.15%	1.24%	0.99%	0.9%	0.87%	1.08%	0.68%	0.63%	0.74%	0.76%
Gross Profit+	-174.56M	-184.91M	13.43M	139.14M	243.54M	-82.8M	603.51M	1.08B	869.28M	1.03B
Gross Margin %	-0.15%	-0.24%	0.01%	0.1%	0.13%	-0.08%	0.32%	0.37%	0.26%	0.24%
Gross Profit Growth %	-1.21%	-0.06%	1.07%	9.36%	0.75%	-1.34%	8.29%	0.79%	-0.19%	0.18%
Operating Expenses+	89.79M	76.9M	79.83M	98M	86.84M	66.73M	79.53M	125.25M	869.28M	254.76M
OpEx % of Revenue	0.08%	0.1%	0.07%	0.07%	0.05%	0.07%	0.04%	0.04%	0.26%	0.06%
Selling, General & Admin	74.75M	64.75M	62.9M	65.36M	61.36M	43.74M	51.93M	79.33M	107.49M	99.62M
SG&A % of Revenue	0.07%	0.08%	0.06%	0.05%	0.03%	0.04%	0.03%	0.03%	0.03%	0.02%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-8.15M	-2.22M	1.17M	25.48M	22.99M	27.59M	45.92M	761.8M	155.15M
Operating Income+	230.25M	246.02M	57.72M	38.45M	159.49M	-150.84M	521.68M	943.57M	643.19M	770.3M
Operating Margin %	0.2%	0.32%	0.05%	0.03%	0.09%	-0.15%	0.28%	0.33%	0.19%	0.18%
Operating Income Growth %	-0.41%	0.07%	-0.77%	-0.33%	3.15%	-1.95%	4.46%	0.81%	-0.32%	0.2%
EBITDA+	892.11M	760.5M	548.33M	608.05M	904.89M	344.52M	998.64M	1.55B	1.69B	2.16B
EBITDA Margin %	0.79%	0.97%	0.5%	0.43%	0.5%	0.35%	0.53%	0.54%	0.5%	0.51%
EBITDA Growth %	-0.04%	-0.15%	-0.28%	0.11%	0.49%	-0.62%	1.9%	0.55%	0.09%	0.28%
D&A (Non-Cash Add-back)	661.86M	514.48M	490.61M	569.6M	745.4M	495.36M	476.96M	602.73M	1.05B	1.39B
EBIT	-1.38B	-654.1M	31.23M	-322.76M	28.5M	-2.49B	1.79B	971.3M	-356.76M	579.39M
Net Interest Income+	-103.4M	-103.69M	-104.96M	-108.17M	-112.15M	-113.15M	-96.93M	-86.67M	-171.77M	-206.1M
Interest Income	0	0	0	0	112.15M	113.15M	96.93M	86.67M	0	0
Interest Expense	103.4M	103.69M	104.96M	108.17M	107.42M	106.53M	92.07M	80.39M	171.77M	206.1M
Other Income/Expense	-1.88B	-1.02B	-126.97M	-468.21M	-235.62M	-2.45B	1.17B	-62.19M	-1.16B	-397.01M
Pretax Income+	-1.48B	-757.79M	-69.25M	-427.08M	-78.92M	-2.6B	1.69B	890.91M	-516.58M	373.29M
Pretax Margin %	-1.31%	-0.97%	-0.06%	-0.3%	-0.04%	-2.66%	0.91%	0.31%	-0.15%	0.09%
Income Tax+	-344.15M	-272.6M	-156.43M	-101.77M	-66.46M	-160.39M	81.24M	35.31M	-283.23M	136.69M
Effective Tax Rate %	0.77%	0.64%	-1.26%	0.76%	0.16%	0.94%	0.95%	0.96%	0.45%	0.63%
Net Income+	-1.13B	-485.18M	87.17M	-325.31M	-12.46M	-2.44B	1.61B	855.61M	-233.36M	236.6M
Net Margin %	-1%	-0.62%	0.08%	-0.23%	-0.01%	-2.5%	0.86%	0.3%	-0.07%	0.06%
Net Income Growth %	-7.54%	0.57%	1.18%	-4.73%	0.96%	-194.76%	1.66%	-0.47%	-1.27%	2.01%
Net Income (Continuing)	-1.14B	-485.18M	87.17M	-325.31M	-12.46M	-2.44B	1.61B	855.61M	-233.36M	236.6M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-5.72	-2.29	0.37	-0.93	-0.02	-4.35	2.82	1.52	-0.33	0.30
EPS Growth %	-5.43%	0.6%	1.16%	-3.51%	0.98%	-193.2%	1.65%	-0.46%	-1.22%	1.91%
EPS (Basic)	-5.72	-2.29	0.37	-0.93	-0.02	-4.35	2.86	1.53	-0.33	0.29
Diluted Shares Outstanding	198.21M	212.3M	237.25M	351.54M	557.05M	560.66M	571.61M	563.84M	704.9M	800.22M
Basic Shares Outstanding	198.07M	211.87M	234.79M	349.79M	557.05M	560.66M	563.67M	557.99M	704.9M	805.3M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	0.3%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	204.91M	117.09M	131.35M	191.15M	184.77M	112.53M	182.06M	244.05M	440.02M	449.63M
Cash & Short-Term Investments	247K	2.71M	18.51M	79.58M	5.57M	-11.08M	-7.76M	5.46M	55.81M	16.61M
Cash Only	247K	2.71M	0	0	5.57M	-11.08M	-7.76M	5.46M	55.81M	16.61M
Short-Term Investments	0	0	18.51M	79.58M	0	0	0	0	0	0
Accounts Receivable	98.09M	112.17M	112.84M	111.56M	173.76M	107.48M	173.41M	200.91M	338.4M	387.27M
Days Sales Outstanding	31.69	52.48	37.73	28.5	35.12	40.22	33.88	25.38	36.52	33.58
Inventory	0	0	-18.51M	-79.58M	0	11.08M	7.76M	0	0	0
Days Inventory Outstanding	-	-	-	-	-	3.82	2.24	-	-	-
Other Current Assets	106.57M	2.22M	18.51M	79.58M	5.43M	5.06M	8.65M	31.3M	24.27M	45.75M
Total Non-Current Assets+	5.28B	4.48B	4.24B	6.19B	5.73B	3.3B	4.65B	4.86B	7.02B	7.31B
Property, Plant & Equipment	5.28B	4.48B	4.24B	6.19B	5.73B	3.29B	4.65B	4.8B	6.75B	7.08B
Fixed Asset Turnover	0.21x	0.17x	0.26x	0.23x	0.32x	0.30x	0.40x	0.60x	0.50x	0.59x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	4.42M	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0	0	0	0	274.87M	56.29M
Total Assets+	5.49B	4.59B	4.37B	6.38B	5.91B	3.41B	4.83B	5.1B	7.46B	7.76B
Asset Turnover	0.21x	0.17x	0.25x	0.22x	0.31x	0.29x	0.39x	0.57x	0.45x	0.54x
Asset Growth %	-0.12%	-0.16%	-0.05%	0.46%	-0.07%	-0.42%	0.42%	0.06%	0.46%	0.04%
Total Current Liabilities+	267.84M	151.01M	197.21M	260.1M	233.5M	198.86M	338.73M	288.53M	558.02M	573.73M
Accounts Payable	267.84M	112.97M	144.54M	258.11M	207.45M	155.96M	190.69M	227.33M	477.3M	512.47M
Days Payables Outstanding	74.95	42.73	48.94	73.05	48.47	53.79	55.04	45.83	69.32	58.75
Short-Term Debt	0	0	0	0	0	4.29M	2.94M	0	0	0
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K	1000K	0	0	0
Other Current Liabilities	0	38.04M	52.67M	0	8.67M	22.5M	131.08M	57.68M	67.34M	34.46M
Current Ratio	0.77x	0.78x	0.67x	0.73x	0.79x	0.57x	0.54x	0.85x	0.79x	0.78x
Quick Ratio	0.77x	0.78x	0.76x	1.04x	0.79x	0.51x	0.51x	0.85x	0.79x	0.78x
Cash Conversion Cycle	-	-	-	-	-	-9.75	-18.91	-	-	-
Total Non-Current Liabilities+	2.81B	2.46B	2.26B	3.06B	2.73B	2.63B	2.28B	1.78B	3.08B	3.02B
Long-Term Debt	1.85B	1.75B	1.69B	2.1B	1.83B	1.79B	1.38B	930.63M	2.41B	2.26B
Capital Lease Obligations	0	0	0	0	8.09M	6.79M	4.83M	3.02M	16.06M	15.46M
Deferred Tax Liabilities	655.25M	375.69M	204.7M	310.84M	235.31M	93.59M	167.46M	265.86M	21.33M	88.56M
Other Non-Current Liabilities	951.26M	707.21M	573.69M	957.73M	891.7M	835.36M	895.23M	851.18M	629.32M	653.75M
Total Liabilities	3.07B	2.62B	2.46B	3.32B	2.97B	2.83B	2.62B	2.07B	3.64B	3.59B
Total Debt+	1.85B	1.75B	1.69B	2.1B	1.85B	1.79B	1.39B	937.17M	2.44B	2.28B
Net Debt	1.85B	1.75B	1.69B	2.1B	1.84B	1.8B	1.4B	931.7M	2.38B	2.27B
Debt / Equity	0.77x	0.89x	0.88x	0.69x	0.63x	3.10x	0.63x	0.31x	0.64x	0.55x
Debt / EBITDA	2.08x	2.31x	3.08x	3.46x	2.04x	5.20x	1.39x	0.61x	1.44x	1.06x
Net Debt / EBITDA	2.08x	2.30x	3.08x	3.46x	2.04x	5.24x	1.40x	0.60x	1.41x	1.05x
Interest Coverage	2.23x	2.37x	0.55x	0.36x	1.48x	-1.42x	5.67x	11.74x	3.74x	3.74x
Total Equity+	2.41B	1.98B	1.91B	3.06B	2.95B	578.21M	2.21B	3.03B	3.83B	4.17B
Equity Growth %	-0.04%	-0.18%	-0.03%	0.6%	-0.04%	-0.8%	2.82%	0.37%	0.26%	0.09%
Book Value per Share	12.18	9.32	8.07	8.69	5.29	1.03	3.87	5.37	5.43	5.21
Total Shareholders' Equity	2.41B	1.98B	1.91B	3.06B	2.95B	578.21M	2.21B	3.03B	3.83B	4.17B
Common Stock	4.3B	4.42B	4.44B	5.7B	5.72B	5.73B	5.74B	5.5B	6.53B	6.14B
Retained Earnings	-2.59B	-3.09B	-3.01B	-3.33B	-3.35B	-5.78B	-4.17B	-3.32B	-3.59B	-3.42B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	705.38M	629.86M	463.1M	667.87M	556.22M	618.98M	632.1M	756.2M	690.92M	1.09B
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	549.42M	247.37M	325.21M	485.32M	834.94M	353.1M	712.38M	1.17B	1.3B	1.91B
Operating CF Margin %	0.49%	0.32%	0.3%	0.34%	0.46%	0.36%	0.38%	0.41%	0.38%	0.45%
Operating CF Growth %	-0.44%	-0.55%	0.31%	0.49%	0.72%	-0.58%	1.02%	0.65%	0.1%	0.47%
Net Income	-1.13B	-485.18M	87.17M	-325.31M	-12.46M	-2.44B	1.61B	855.61M	-233.36M	236.6M
Depreciation & Amortization	661.86M	508.31M	481.93M	558.68M	937.33M	2.87B	-985.77M	587.05M	2.02B	0
Stock-Based Compensation	24.57M	13.88M	15.51M	19.53M	15.89M	7.22M	6.39M	3.16M	37.7M	0
Deferred Taxes	-353.05M	-264.56M	-155.34M	-101.73M	-68.56M	-160.97M	79.97M	31.72M	-297.63M	114.93M
Other Non-Cash Items	1.32B	498.19M	-95.1M	294.7M	14.79M	23.62M	24.78M	-330.73M	-7.9M	1.57B
Working Capital Changes	43.89M	-23.27M	-8.96M	39.45M	-52.07M	48.76M	-26.58M	26.07M	-220.9M	-17.92M
Change in Receivables	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0
Change in Payables	0	0	0	0	0	0	0	0	0	0
Cash from Investing+	-597.73M	-292.28M	-352.68M	-463.27M	-617.51M	-314.47M	-310.76M	-488.99M	-1.51B	-1.28B
Capital Expenditures	-523.11M	-224.9M	-398.15M	-498.23M	-556.51M	-282.62M	-315.77M	-524.04M	-1.06B	-1.31B
CapEx % of Revenue	0.46%	0.29%	0.36%	0.35%	0.31%	0.29%	0.17%	0.18%	0.31%	0.31%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-74.62M	-67.38M	45.47M	34.95M	-58.82M	-32.03M	-1.24M	9.4M	207.07M	35.12M
Cash from Financing+	46.45M	49.03M	24.77M	-22.05M	-211.86M	-44.2M	-401.62M	-678.42M	266.25M	-668.17M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-109.81M	0	0	0	0	0	0	0	-37.52M	-71.98M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	-755K	0	0	0	-2.14M	-43.49M	-18.82M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	26.31M	22.46M	-72.94M	-12.9M	278.43M	70.48M	396.62M	648.83M	239.61M	593.85M
FCF Margin %	0.02%	0.03%	-0.07%	-0.01%	0.15%	0.07%	0.21%	0.22%	0.07%	0.14%
FCF Growth %	-0.86%	-0.15%	-4.25%	0.82%	22.58%	-0.75%	4.63%	0.64%	-0.63%	1.48%
FCF per Share	0.13	0.11	-0.31	-0.04	0.50	0.13	0.69	1.15	0.34	0.74
FCF Conversion (FCF/Net Income)	-0.48x	-0.51x	3.73x	-1.49x	-67.01x	-0.14x	0.44x	1.37x	-5.55x	8.07x
Interest Paid	100.26M	104.18M	98.1M	0	112.24M	102.36M	93.11M	84.22M	153.22M	200.22M
Taxes Paid	12.06M	5.33M	49K	0	1.16M	1.16M	253K	2.3M	3.6M	19.43M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-46.07%	-22.09%	4.48%	-13.09%	-0.42%	-138.36%	115.69%	32.65%	-6.81%	5.92%
Return on Invested Capital (ROIC)	3.91%	4.61%	1.18%	0.66%	2.4%	-3.16%	13.07%	18.7%	9.48%	9.14%
Gross Margin	-15.45%	-23.7%	1.23%	9.74%	13.49%	-8.49%	32.3%	37.33%	25.7%	24.35%
Net Margin	-100.33%	-62.2%	7.99%	-22.77%	-0.69%	-250.03%	86.37%	29.62%	-6.9%	5.62%
Debt / Equity	0.77x	0.89x	0.88x	0.69x	0.63x	3.10x	0.63x	0.31x	0.64x	0.55x
Interest Coverage	2.23x	2.37x	0.55x	0.36x	1.48x	-1.42x	5.67x	11.74x	3.74x	3.74x
FCF Conversion	-0.48x	-0.51x	3.73x	-1.49x	-67.01x	-0.14x	0.44x	1.37x	-5.55x	8.07x
Revenue Growth	-26.15%	-30.96%	39.92%	30.9%	26.39%	-45.98%	91.52%	54.64%	17.08%	24.43%

Frequently Asked Questions

Valuation & Price

Baytex Energy Corp. (BTE) has a price-to-earnings (P/E) ratio of 11.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Baytex Energy Corp. (BTE) reported $3.83B in revenue for fiscal year 2024. This represents a 193% increase from $1.31B in 2011.

Baytex Energy Corp. (BTE) grew revenue by 24.4% over the past year. This is strong growth.

Yes, Baytex Energy Corp. (BTE) is profitable, generating $214.6M in net income for fiscal year 2024 (5.6% net margin).

Dividend & Returns

Yes, Baytex Energy Corp. (BTE) pays a dividend with a yield of 2.66%. This makes it attractive for income-focused investors.

Baytex Energy Corp. (BTE) has a return on equity (ROE) of 5.9%. This is below average, suggesting room for improvement.

Baytex Energy Corp. (BTE) generated $419.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.