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OBE logoObsidian Energy Ltd.(OBE)Earnings, Financials & Key Ratios

OBE•AMEX
$12.88
$867M mkt cap·35.7× P/E·Price updated May 6, 2026
SectorEnergyIndustryOil & Gas E&PSub-IndustryCanadian oil sands and heavy oil producers
AboutObsidian Energy Ltd. primarily focuses on the exploration, production, and development of oil and natural gas properties in the Western Canada Sedimentary Basin. The company was formerly known as Penn West Petroleum Ltd. and changed its name to Obsidian Energy Ltd. in June 2017. Obsidian Energy Ltd. is headquartered in Calgary, Canada.Show more
  • Revenue$540M-35.5%
  • EBITDA$268M-35.1%
  • Net Income$35M+117.4%
  • EPS (Diluted)0.49+118.4%
  • Gross Margin20.03%+169.3%
  • EBITDA Margin49.59%+0.6%
  • Operating Margin14.05%+147.2%
  • Net Margin6.51%+126.9%
  • ROE2.52%+118.9%
  • ROIC3.4%+132.8%
  • Debt/Equity0.16-36.3%
  • Interest Coverage2.57+136.9%
Technical→

OBE Key Insights

Obsidian Energy Ltd. (OBE) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓Momentum leader: RS Rating 96 (top 4%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 14.6%
  • ✓Share count reduced 5.5% through buybacks
  • ✓Healthy 5Y average net margin of 35.8%

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

OBE Price & Volume

Obsidian Energy Ltd. (OBE) stock price & volume — 10-year historical chart

Loading chart...

OBE Growth Metrics

Obsidian Energy Ltd. (OBE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-7.57%
5 Years14.65%
3 Years-16.25%
TTM-20.88%

Profit CAGR

10 Years-
5 Years-
3 Years-64.85%
TTM117.38%

EPS CAGR

10 Years-
5 Years-
3 Years-62.91%
TTM118.22%

Return on Capital

10 Years2.71%
5 Years16.7%
3 Years3.36%
Last Year4.31%

OBE Recent Earnings

Obsidian Energy Ltd. (OBE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 1/12 qtrs (8%)●Beat Revenue 2/12 qtrs (40%)
Q1 2026Latest
Feb 19, 2026
EPS
$0.13
Est $0.10
-227.6%
Revenue
$90M
Est $84M
+8.0%
Q4 2025
Oct 30, 2025
EPS
$0.17
Est $0.20
-13.9%
Revenue
$94M
Q3 2025
Jul 30, 2025
EPS
$0.15
Est $0.17
-11.2%
Revenue
$103M
Q2 2025
May 7, 2025
EPS
$0.14
Est $4.11
+103.4%
Revenue
$152M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 19, 2026
$0.13vs $0.10-227.6%
$90Mvs $84M+8.0%
Q4 2025Oct 30, 2025
$0.17vs $0.20-13.9%
$94M
Q3 2025Jul 30, 2025
$0.15vs $0.17-11.2%
$103M
Q2 2025May 7, 2025
$0.14vs $4.11+103.4%
$152M
Based on last 12 quarters of dataView full earnings history →

OBE Peer Comparison

Obsidian Energy Ltd. (OBE) competitors in Canadian oil sands and heavy oil producers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
BTE logoBTEBaytex Energy Corp.Direct Competitor3.83B4.98-8.67-64.85%5.6%5.16%0.01
TVE logoTVETennessee Valley Authority PARRS A 2029Direct Competitor12.53M23.860.0111.03%
VTLE logoVTLEVital Energy, Inc.Direct Competitor693.32M17.92-3.7826.15%-69.28%-74.84%0.95
CIVI logoCIVICivitas Resources, Inc.Direct Competitor2.34B27.383.2449.76%13.56%9.55%0.68
MEG logoMEGMontrose Environmental Group, Inc.Product Competitor798.27M22.07-157.6419.26%0.71%1.26%0.80
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Product Competitor225.54M5.574.5736.55%13.09%1.33
SLB logoSLBSLB N.V.Supply Chain82.8B55.1623.47-1.6%9.38%13.88%0.45
HAL logoHALHalliburton CompanySupply Chain33.74B40.4026.93-3.31%6.95%14.59%0.77

Compare OBE vs Peers

Obsidian Energy Ltd. (OBE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BTE

Most directly comparable listed peer for OBE.

Scale Benchmark

vs ENB

Larger-name benchmark to compare OBE against a more recognizable public peer.

Peer Set

Compare Top 5

vs BTE, TVE, VTLE, CIVI

OBE Income Statement

Obsidian Energy Ltd. (OBE) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue437M444M416M272.8M448.9M920M653.3M837.7M540.36M
Revenue Growth %-28.13%1.6%-6.31%-34.42%64.55%104.95%-28.99%28.23%-35.49%
Cost of Goods Sold529M605M1.08B1.04B100K224.3M243.9M775.4M432.15M
COGS % of Revenue121.05%136.26%260.34%379.99%0.02%24.38%37.33%92.56%79.97%
Gross Profit
-92M▲ 0%
-161M▼ 75.0%
-667M▼ 314.3%
-750.1M▼ 12.5%
288.1M▲ 138.4%
695.7M▲ 141.5%
409.4M▼ 41.2%
62.3M▼ 84.8%
108.21M▲ 73.7%
Gross Margin %-21.05%-36.26%-160.34%-274.96%64.18%75.62%62.67%7.44%20.03%
Gross Profit Growth %73.79%-75%-314.29%-12.46%138.41%141.48%-41.15%-84.78%73.69%
Operating Expenses60M60M41M17.3M46.3M46.5M35.2M311.8M32.27M
OpEx % of Revenue13.73%13.51%9.86%6.34%10.31%5.05%5.39%37.22%5.97%
Selling, General & Admin68M66M52M45.1M56.1M47.1M35.2M28.7M32.27M
SG&A % of Revenue15.56%14.86%12.5%16.53%12.5%5.12%5.39%3.43%5.97%
Research & Development000000000
R&D % of Revenue---------
Other Operating Expenses-15M-16M-11M-27.8M-9.8M-600K0283.1M0
Operating Income
-152M▲ 0%
-221M▼ 45.4%
-731M▼ 230.8%
117.8M▲ 116.1%
253.4M▲ 115.1%
502.6M▲ 98.3%
374.2M▼ 25.5%
-249.5M▼ 166.7%
75.94M▲ 130.4%
Operating Margin %-34.78%-49.77%-175.72%43.18%56.45%54.63%57.28%-29.78%14.05%
Operating Income Growth %78.98%-45.39%-230.77%116.11%115.11%98.34%-25.55%-166.68%130.44%
EBITDA148M77M-476.8M249.1M338.07M732.07M585.2M412.9M267.98M
EBITDA Margin %33.87%17.34%-114.62%91.31%75.31%79.57%89.58%49.29%49.59%
EBITDA Growth %144.71%-47.97%-719.22%152.24%35.72%116.55%-20.06%-29.44%-35.1%
D&A (Non-Cash Add-back)300M298M254.2M131.3M84.67M229.47M211M662.4M192.04M
EBIT-74M-284M-752.5M37.2M453.2M602.1M172.6M-231.8M76.84M
Net Interest Income-23M-21M-24.75M-19M-24.82M-28.03M-31.3M-33.3M-29.88M
Interest Income006.55M10.2M4.74M5.09M500K00
Interest Expense23M21M31.31M29.2M29.57M33.12M31.8M33.3M29.88M
Other Income/Expense55M-84M-68.6M-889.5M160.6M61.1M-230.6M-15.6M-28.98M
Pretax Income
-97M▲ 0%
-305M▼ 214.4%
-788M▼ 158.4%
-771.7M▲ 2.1%
414M▲ 153.6%
563.7M▲ 36.2%
143.6M▼ 74.5%
-265.1M▼ 284.6%
46.96M▲ 117.7%
Pretax Margin %-22.2%-68.69%-189.42%-282.88%92.23%61.27%21.98%-31.65%8.69%
Income Tax-13M017M00-246.4M35.6M-62.5M11.79M
Effective Tax Rate %13.4%0%-2.16%0%0%-43.71%24.79%23.58%25.11%
Net Income
-84M▲ 0%
-305M▼ 263.1%
-788M▼ 158.4%
-771.7M▲ 2.1%
414M▲ 153.6%
810.1M▲ 95.7%
108M▼ 86.7%
-202.6M▼ 287.6%
35.17M▲ 117.4%
Net Margin %-19.22%-68.69%-189.42%-282.88%92.23%88.05%16.53%-24.19%6.51%
Net Income Growth %87.93%-263.1%-158.36%2.07%153.65%95.68%-86.67%-287.59%117.36%
Net Income (Continuing)-84M-305M-788.3M-771.7M414M810.1M108M-202.6M35.17M
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)
-1.17▲ 0%
-4.22▼ 260.7%
-11.04▼ 161.6%
-10.53▲ 4.6%
5.34▲ 150.7%
9.60▲ 79.8%
1.28▼ 86.7%
-2.67▼ 308.6%
0.49▲ 118.4%
EPS Growth %87.94%-260.68%-161.61%4.62%150.71%79.78%-86.67%-308.59%118.35%
EPS (Basic)-1.19-4.22-11.04-10.535.529.881.33-2.670.51
Diluted Shares Outstanding71.99M72.33M72.9M73.3M77.6M84.4M84.1M76M71.8M
Basic Shares Outstanding70.59M72.33M72.9M73.3M75.1M82M84.38M76M69.4M
Dividend Payout Ratio---------

OBE Balance Sheet

Obsidian Energy Ltd. (OBE) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets189M76M169M58.9M87.1M100.3M94.6M492.1M90.03M
Cash & Short-Term Investments2M2M1M8.1M7.3M800K500K00
Cash Only2M2M1M8.1M7.3M800K500K00
Short-Term Investments000000000
Accounts Receivable105M53M70.5M40.8M68.9M82.6M70M88M56.05M
Days Sales Outstanding87.743.5761.8654.5956.0232.7739.1138.3437.86
Inventory64M9M85M800K1.8M6.2M000
Days Inventory Outstanding44.165.4328.650.286.57K10.09---
Other Current Assets18M12M200K00011.3M404.1M33.97M
Total Non-Current Assets2.82B2.57B1.74B905.2M1.34B2.1B2.16B1.62B1.76B
Property, Plant & Equipment2.82B2.57B1.71B905.2M1.34B1.86B1.94B1.35B1.49B
Fixed Asset Turnover0.16x0.17x0.24x0.30x0.33x0.50x0.34x0.62x0.36x
Goodwill000000000
Intangible Assets000000000
Long-Term Investments0030.7M000008.69M
Other Non-Current Assets00-700K000211.8M00
Total Assets
3.01B▲ 0%
2.65B▼ 11.9%
1.9B▼ 28.2%
964.1M▼ 49.4%
1.43B▲ 48.2%
2.2B▲ 54.2%
2.25B▲ 2.1%
2.11B▼ 6.0%
1.85B▼ 12.4%
Asset Turnover0.15x0.17x0.22x0.28x0.31x0.42x0.29x0.40x0.29x
Asset Growth %-9.91%-11.9%-28.15%-49.36%48.24%54.23%2.09%-6.03%-12.36%
Total Current Liabilities286M190M603M547.6M530.5M222.9M230M275.3M167.46M
Accounts Payable148M143M111M74.1M107.8M185.6M193.5M175.8M154.87M
Days Payables Outstanding102.1286.2737.4126.09393.47K302.02289.5882.75130.81
Short-Term Debt31M19M434.2M451.8M391M02M3.5M3.7M
Deferred Revenue (Current)27M0-111M0-107.8M-185.6M000
Other Current Liabilities62M12M136.8M7.9M126.5M211M32.6M93.9M8.89M
Current Ratio0.66x0.40x0.28x0.11x0.16x0.45x0.41x1.79x0.54x
Quick Ratio0.44x0.35x0.14x0.11x0.16x0.42x0.41x1.79x0.54x
Cash Conversion Cycle29.74-37.2753.0928.78-386.84K-259.16---
Total Non-Current Liabilities556M592M209M93.4M135.2M401.7M376.6M433.5M295.36M
Long-Term Debt328M402M26.3M00225.3M218M332.4M195.94M
Capital Lease Obligations0085M5.6M4.6M2.8M6.1M4.5M16.19M
Deferred Tax Liabilities000000000
Other Non-Current Liabilities228M190M97.7M87.8M130.6M173.6M152.5M96.6M83.23M
Total Liabilities842M782M812M641M665.7M624.6M606.6M708.8M462.82M
Total Debt359M421M575M462.2M399.7M231.3M228M342.5M215.82M
Net Debt357M419M574M454.1M392.4M230.5M227.5M342.5M215.82M
Debt / Equity0.17x0.23x0.53x1.43x0.52x0.15x0.14x0.24x0.16x
Debt / EBITDA2.43x5.47x-1.86x1.18x0.32x0.39x0.83x0.81x
Net Debt / EBITDA2.41x5.44x-1.82x1.16x0.31x0.39x0.83x0.81x
Interest Coverage-3.22x-13.52x-24.03x1.27x15.33x18.18x5.43x-6.96x2.57x
Total Equity
2.17B▲ 0%
1.87B▼ 13.8%
1.09B▼ 41.5%
323.1M▼ 70.4%
763.5M▲ 136.3%
1.58B▲ 106.9%
1.64B▲ 4.1%
1.41B▼ 14.5%
1.39B▼ 1.1%
Equity Growth %-3.6%-13.76%-41.54%-70.41%136.3%106.9%4.06%-14.48%-1.09%
Book Value per Share30.0925.8314.984.419.8418.7219.5518.5019.37
Total Shareholders' Equity2.17B1.87B1.09B323.1M763.5M1.58B1.64B1.41B1.39B
Common Stock2.18B2.19B2.19B2.19B2.21B2.22B2.18B2.14B2.08B
Retained Earnings-111M-416M-1.2B-1.97B-1.55B-743.4M-635.4M-838M-802.15M
Treasury Stock000000000
Accumulated OCI96M99M102M103.6M103.2M101.2M104.1M108.6M109.51M
Minority Interest000000000

OBE Cash Flow Statement

Obsidian Energy Ltd. (OBE) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations125M99M77M79.4M198.7M456.8M352.7M361.9M235.51M
Operating CF Margin %28.6%22.3%18.51%29.11%44.26%49.65%53.99%43.2%43.58%
Operating CF Growth %191.24%-20.8%-22.22%3.12%150.25%129.89%-22.79%2.61%-34.92%
Net Income-84M-305M-788M-771.7M414M810.1M108M-202.6M35.17M
Depreciation & Amortization237M298M254.2M134.2M125.7M185.7M225.8M0192.04M
Stock-Based Compensation8M7M5M2.1M2.3M4.7M8M8.2M0
Deferred Taxes-13M0-254.2M-134.2M-125.7M-246.4M35.6M-62.5M11.79M
Other Non-Cash Items-28M329M900M855.6M-212.5M-332.1M-38.3M654.5M-34.07M
Working Capital Changes5M68M-40M-6.6M-5.1M34.8M13.6M-35.7M30.58M
Change in Receivables000000000
Change in Inventory000000000
Change in Payables000000000
Cash from Investing-34M-161M-101M-66.2M-156.6M-290.8M-293.6M-430.5M-17.19M
Capital Expenditures-141M-168M-103M-57.2M-141M-319.4M-293.1M-83.4M-298.96M
CapEx % of Revenue32.27%37.84%24.76%20.97%31.41%34.72%44.86%9.96%55.33%
Acquisitions110M13M10.7M100K-33.7M000208.13M
Investments---------
Other Investing107M7M-8.7M-9.1M18.1M28.6M-500K-347.1M73.64M
Cash from Financing-100M60M27M-8.1M-42.9M-172.5M-59.4M67.6M-218.22M
Debt Issued (Net)-102M52M24.3M-10.3M-67M-167.4M-11.5M112.3M-158.57M
Equity Issued (Net)000024.2M0-47.4M-41.7M-55.55M
Dividends Paid000000000
Share Repurchases000000-47.4M-41.7M-55.55M
Other Financing2M8M2.7M2.2M-100K-5.1M-500K-3M-4.1M
Net Change in Cash
-9M▲ 0%
60M▲ 766.7%
1M▼ 98.3%
5.1M▲ 410.0%
-800K▼ 115.7%
-6.5M▼ 712.5%
-300K▲ 95.4%
-1M▼ 233.3%
100K▲ 110.0%
Free Cash Flow
-16M▲ 0%
-69M▼ 331.3%
-26M▲ 62.3%
22.2M▲ 185.4%
57.7M▲ 159.9%
137.4M▲ 138.1%
59.6M▼ 56.6%
-64.6M▼ 208.4%
-63.45M▲ 1.8%
FCF Margin %-3.66%-15.54%-6.25%8.14%12.85%14.93%9.12%-7.71%-11.74%
FCF Growth %92.69%-331.25%62.32%185.38%159.91%138.13%-56.62%-208.39%1.78%
FCF per Share-0.22-0.95-0.360.300.741.630.71-0.85-0.88
FCF Conversion (FCF/Net Income)-1.49x-0.32x-0.10x-0.10x0.48x0.56x3.27x-1.79x6.70x
Interest Paid000000032.1M0
Taxes Paid000000000

OBE Key Ratios

Obsidian Energy Ltd. (OBE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-26.86%-3.81%-15.12%-53.24%-109.07%76.2%69.14%6.7%-13.29%2.52%
Return on Invested Capital (ROIC)-14.31%-4.36%-6.89%-27.74%7.23%19.66%25.42%15.25%-10.34%3.4%
Gross Margin-57.73%-21.05%-36.26%-160.34%-274.96%64.18%75.62%62.67%7.44%20.03%
Net Margin-114.47%-19.22%-68.69%-189.42%-282.88%92.23%88.05%16.53%-24.19%6.51%
Debt / Equity0.21x0.17x0.23x0.53x1.43x0.52x0.15x0.14x0.24x0.16x
Interest Coverage-7.32x-3.22x-13.52x-24.03x1.27x15.33x18.18x5.43x-6.96x2.57x
FCF Conversion0.20x-1.49x-0.32x-0.10x-0.10x0.48x0.56x3.27x-1.79x6.70x
Revenue Growth-48.78%-28.13%1.6%-6.31%-34.42%64.55%104.95%-28.99%28.23%-35.49%

OBE Frequently Asked Questions

Obsidian Energy Ltd. (OBE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Obsidian Energy Ltd. (OBE) reported $601.5M in revenue for fiscal year 2025. This represents a 30% decrease from $854.2M in 2001.

Obsidian Energy Ltd. (OBE) saw revenue decline by 35.5% over the past year.

Yes, Obsidian Energy Ltd. (OBE) is profitable, generating $35.2M in net income for fiscal year 2025 (6.5% net margin).

Dividend & Returns

Obsidian Energy Ltd. (OBE) has a return on equity (ROE) of 2.5%. This is below average, suggesting room for improvement.

Obsidian Energy Ltd. (OBE) had negative free cash flow of $62.6M in fiscal year 2025, likely due to heavy capital investments.

Explore More OBE

Obsidian Energy Ltd. (OBE) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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