30 years of historical data (1995–2024) · Energy · Oil & Gas Exploration & Production
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Baytex Energy Corp. trades at 17.5x earnings, 315% above its 5-year average of 4.2x, sitting at the 58th percentile of its historical range. This is roughly in line with the Energy sector median P/E of 16.8x. On a free-cash-flow basis, the stock trades at 6.8x P/FCF, 31% above the 5-year average of 5.2x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.0B | $2.1B | $2.3B | $2.5B | $1.8B | $301M | $808M | $619M | $712M | $1.0B | $642M |
| Enterprise Value | $4.6B | $4.3B | $4.7B | $3.5B | $3.2B | $2.1B | $2.6B | $2.7B | $2.4B | $2.8B | $2.5B |
| P/E Ratio → | 17.52 | 8.60 | — | 2.97 | 1.10 | — | — | — | 8.11 | — | — |
| P/S Ratio | 0.96 | 0.49 | 0.69 | 0.88 | 0.95 | 0.31 | 0.45 | 0.43 | 0.65 | 1.33 | 0.57 |
| P/B Ratio | 1.01 | 0.49 | 0.61 | 0.84 | 0.80 | 0.52 | 0.27 | 0.20 | 0.37 | 0.52 | 0.27 |
| P/FCF | 6.80 | 3.48 | 9.77 | 3.92 | 4.45 | 4.26 | 2.90 | — | — | 46.12 | 24.41 |
| P/OCF | 2.12 | 1.08 | 1.81 | 2.17 | 2.48 | 0.85 | 0.97 | 1.27 | 2.19 | 4.19 | 1.17 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Baytex Energy Corp.'s enterprise value stands at 2.9x EBITDA, 10% below its 5-year average of 3.3x. The Energy sector median is 7.3x, placing the stock at a 60% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.03 | 1.40 | 1.20 | 1.69 | 2.16 | 1.47 | 1.91 | 2.20 | 3.57 | 2.21 |
| EV / EBITDA | 2.92 | 2.01 | 2.79 | 2.25 | 3.17 | 6.11 | 2.93 | 4.48 | 4.37 | 3.67 | 2.80 |
| EV / EBIT | 8.18 | 7.47 | — | 3.58 | 1.77 | — | 92.98 | — | 76.79 | — | — |
| EV / FCF | — | 7.29 | 19.72 | 5.36 | 7.97 | 29.86 | 9.52 | — | — | 124.08 | 94.90 |
Margins and return-on-capital ratios measuring operating efficiency
Baytex Energy Corp. earns an operating margin of 18.3%, above the Energy sector average of 13.9%. Operating margins have compressed from 32.7% to 18.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 5.9% is modest, trailing the sector median of 8.2%. ROIC of 9.1% represents adequate returns on invested capital versus a sector median of 6.8%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.4% | 24.4% | 25.7% | 37.3% | 32.3% | -8.5% | 13.5% | 9.7% | 1.2% | -23.7% | -15.4% |
| Operating Margin | 18.3% | 18.3% | 19.0% | 32.7% | 27.9% | -15.5% | 8.8% | 2.7% | 5.3% | 31.5% | 20.4% |
| Net Profit Margin | 5.6% | 5.6% | -6.9% | 29.6% | 86.4% | -250.0% | -0.7% | -22.8% | 8.0% | -62.2% | -100.3% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.9% | 5.9% | -6.8% | 32.6% | 115.7% | -138.4% | -0.4% | -13.1% | 4.5% | -22.1% | -46.1% |
| ROA | 3.1% | 3.1% | -3.7% | 17.2% | 39.2% | -52.3% | -0.2% | -6.1% | 1.9% | -9.6% | -19.3% |
| ROIC | 9.1% | 9.1% | 9.5% | 18.7% | 13.1% | -3.2% | 2.4% | 0.7% | 1.2% | 4.6% | 3.9% |
| ROCE | 10.9% | 10.9% | 11.0% | 20.3% | 13.5% | -3.4% | 2.7% | 0.7% | 1.3% | 5.1% | 4.2% |
Solvency and debt-coverage ratios — lower is generally safer
Baytex Energy Corp. carries a Debt/EBITDA ratio of 1.1x, which is manageable (57% below the sector average of 2.5x). Net debt stands at $2.3B ($2.3B total debt minus $17M cash). Interest coverage of 3.7x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.55 | 0.55 | 0.64 | 0.31 | 0.63 | 3.10 | 0.63 | 0.69 | 0.88 | 0.89 | 0.77 |
| Debt / EBITDA | 1.06 | 1.06 | 1.44 | 0.61 | 1.39 | 5.20 | 2.04 | 3.46 | 3.08 | 2.31 | 2.08 |
| Net Debt / Equity | — | 0.54 | 0.62 | 0.31 | 0.63 | 3.12 | 0.62 | 0.69 | 0.88 | 0.88 | 0.77 |
| Net Debt / EBITDA | 1.05 | 1.05 | 1.41 | 0.60 | 1.40 | 5.24 | 2.04 | 3.46 | 3.08 | 2.30 | 2.08 |
| Debt / FCF | — | 3.81 | 9.95 | 1.44 | 3.52 | 25.60 | 6.62 | — | — | 77.96 | 70.49 |
| Interest Coverage | 3.74 | 3.74 | 3.74 | 11.74 | 5.67 | -1.42 | 1.48 | 0.36 | 0.55 | 2.37 | 2.23 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.78x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.85x to 0.78x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.78 | 0.78 | 0.79 | 0.85 | 0.54 | 0.57 | 0.79 | 0.73 | 0.67 | 0.78 | 0.77 |
| Quick Ratio | 0.78 | 0.78 | 0.79 | 0.85 | 0.51 | 0.51 | 0.79 | 1.04 | 0.76 | 0.78 | 0.77 |
| Cash Ratio | 0.03 | 0.03 | 0.10 | 0.02 | -0.02 | -0.06 | 0.02 | 0.31 | 0.09 | 0.02 | 0.00 |
| Asset Turnover | — | 0.54 | 0.45 | 0.57 | 0.39 | 0.29 | 0.31 | 0.22 | 0.25 | 0.17 | 0.21 |
| Inventory Turnover | 162.87 | — | — | — | 162.87 | 95.55 | — | — | — | — | — |
| Days Sales Outstanding | — | 33.58 | 36.52 | 25.38 | 33.88 | 40.22 | 35.12 | 28.50 | 37.73 | 52.48 | 31.69 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Baytex Energy Corp. returns 7.2% to shareholders annually — split between a 1.7% dividend yield and 5.5% buyback yield. The payout ratio of 30.4% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.7% | 3.5% | 1.6% | — | — | — | — | — | — | — | 17.1% |
| Payout Ratio | 30.4% | 30.4% | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.7% | 11.6% | — | 33.7% | 91.3% | — | — | — | 12.3% | — | — |
| FCF Yield | 14.7% | 28.8% | 10.2% | 25.5% | 22.5% | 23.5% | 34.5% | — | — | 2.2% | 4.1% |
| Buyback Yield | 5.5% | 10.8% | 9.5% | 6.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 7.2% | 14.2% | 11.1% | 6.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 17.1% |
| Shares Outstanding | — | $800M | $705M | $564M | $572M | $561M | $557M | $352M | $237M | $212M | $198M |
Compare BTE with 4 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| BTEYou | $3B | 17.5 | 2.9 | 6.8 | 24.4% | 18.3% | 5.9% | 9.1% | 1.1 |
| CNQ | $91B | 21.0 | 6.2 | 15.4 | 49.3% | 47.1% | 15.4% | 23.0% | 0.9 |
| GFR | $745M | 4.8 | 4.0 | 17.8 | 32.6% | 28.7% | 16.0% | 16.5% | 1.0 |
| OBE | $527M | -4.0 | 2.6 | — | 7.4% | -29.8% | -13.3% | -10.3% | 0.8 |
| BRN | $14M | -1.7 | — | — | 11.6% | -39.1% | -68.8% | -61.9% | — |
| Energy Median | — | 16.8 | 7.3 | 11.5 | 35.3% | 13.9% | 8.2% | 6.8% | 2.5 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonBaytex Energy Corp.'s current P/E ratio is 17.5x. The historical average is 16.1x. This places it at the 58th percentile of its historical range.
Baytex Energy Corp.'s current EV/EBITDA is 2.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.0x.
Baytex Energy Corp.'s return on equity (ROE) is 5.9%. The historical average is 4.3%.
Based on historical data, Baytex Energy Corp. is trading at a P/E of 17.5x. This is at the 58th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Baytex Energy Corp.'s current dividend yield is 1.71% with a payout ratio of 30.4%.
Baytex Energy Corp. has 24.4% gross margin and 18.3% operating margin. Operating margin between 10-20% is typical for established companies.
Baytex Energy Corp.'s Debt/EBITDA ratio is 1.1x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.