BAYTEX ENERGY CORP (BTE)
CA07317Q1054 - Common Stock
We assign a fundamental rating of 4 out of 10 to BTE. BTE was compared to 205 industry peers in the Oil, Gas & Consumable Fuels industry. There are concerns on the financial health of BTE while its profitability can be described as average. BTE has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year BTE has reported negative net income.
In the past year BTE had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: BTE reported negative net income in multiple years.
In the past 5 years BTE always reported a positive cash flow from operatings.
1.2 Ratios
BTE has a worse Return On Assets (-4.61%) than 84.31% of its industry peers.
Looking at the Return On Equity, with a value of -8.81%, BTE is doing worse than 79.41% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 8.38%, BTE is in line with its industry, outperforming 58.33% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for BTE is significantly below the industry average of 29.02%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -4.61% | ||
| ROE | -8.81% | ||
| ROIC | 8.38% |
ROA(3y)15.67%
ROA(5y)-4.95%
ROE(3y)31.7%
ROE(5y)-65.43%
ROIC(3y)10.74%
ROIC(5y)N/A
1.3 Margins
BTE has a Operating Margin (22.02%) which is in line with its industry peers.
BTE's Operating Margin has improved in the last couple of years.
With an excellent Gross Margin value of 79.94%, BTE belongs to the best of the industry, outperforming 89.71% of the companies in the same industry.
BTE's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 22.02% | ||
| PM (TTM) | N/A | ||
| GM | 79.94% |
OM growth 3YN/A
OM growth 5Y56.68%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y10.09%
GM growth 5Y1.85%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BTE is creating some value.
BTE has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, BTE has more shares outstanding
BTE has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.52, we must say that BTE is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of BTE (0.52) is worse than 69.12% of its industry peers.
BTE has a debt to FCF ratio of 3.97. This is a good value and a sign of high solvency as BTE would need 3.97 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 3.97, BTE is doing good in the industry, outperforming 65.20% of the companies in the same industry.
A Debt/Equity ratio of 0.57 indicates that BTE is somewhat dependend on debt financing.
BTE has a Debt to Equity ratio (0.57) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 3.97 | ||
| Altman-Z | 0.52 |
ROIC/WACC1.02
WACC8.18%
2.3 Liquidity
BTE has a Current Ratio of 0.69. This is a bad value and indicates that BTE is not financially healthy enough and could expect problems in meeting its short term obligations.
BTE's Current ratio of 0.69 is on the low side compared to the rest of the industry. BTE is outperformed by 77.45% of its industry peers.
BTE has a Quick Ratio of 0.69. This is a bad value and indicates that BTE is not financially healthy enough and could expect problems in meeting its short term obligations.
BTE's Quick ratio of 0.69 is on the low side compared to the rest of the industry. BTE is outperformed by 71.08% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.69 | ||
| Quick Ratio | 0.69 |
3. Growth
3.1 Past
BTE shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -133.06%.
The Revenue has grown by 39.63% in the past year. This is a very strong growth!
Measured over the past years, BTE shows a quite strong growth in Revenue. The Revenue has been growing by 19.46% on average per year.
EPS 1Y (TTM)-133.06%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%53.33%
Revenue 1Y (TTM)39.63%
Revenue growth 3Y49.51%
Revenue growth 5Y19.46%
Sales Q2Q%-7.6%
3.2 Future
The Earnings Per Share is expected to grow by 33.34% on average over the next years. This is a very strong growth
Based on estimates for the next years, BTE will show a small growth in Revenue. The Revenue will grow by 1.22% on average per year.
EPS Next Y396.27%
EPS Next 2Y124.28%
EPS Next 3Y50.58%
EPS Next 5Y33.34%
Revenue Next Year-0.67%
Revenue Next 2Y-2.07%
Revenue Next 3Y-0.38%
Revenue Next 5Y1.22%
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
BTE reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
With a Price/Forward Earnings ratio of 7.24, the valuation of BTE can be described as very cheap.
BTE's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BTE is cheaper than 74.51% of the companies in the same industry.
BTE is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.83, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 7.24 |
4.2 Price Multiples
94.61% of the companies in the same industry are more expensive than BTE, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, BTE is valued cheaper than 88.24% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.46 | ||
| EV/EBITDA | 2.19 |
4.3 Compensation for Growth
BTE's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BTE's earnings are expected to grow with 50.58% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y124.28%
EPS Next 3Y50.58%
5. Dividend
5.1 Amount
BTE has a Yearly Dividend Yield of 2.50%. Purely for dividend investing, there may be better candidates out there.
The stock price of BTE dropped by -27.07% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
Compared to an average industry Dividend Yield of 6.85, BTE has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.24, BTE has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.5% |
5.2 History
The dividend of BTE decreases each year by -50.19%.
BTE has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of BTE decreased recently.
Dividend Growth(5Y)-50.19%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
The earnings of BTE are negative and hence is the payout ratio. BTE will probably not be able to sustain this dividend level.
DP-20.75%
EPS Next 2Y124.28%
EPS Next 3Y50.58%
BAYTEX ENERGY CORP
NYSE:BTE (12/20/2024, 8:04:01 PM)
After market: 2.3 +0.01 (+0.44%)2.29
+0.06 (+2.69%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners38.91%
Inst Owner Change0.72%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.79B
Analysts76
Price Target4.38 (91.27%)
Short Float %7.18%
Short Ratio4.1
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.5% |
Dividend Growth(5Y)-50.19%
DP-20.75%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-23.82%
Min EPS beat(2)-28.09%
Max EPS beat(2)-19.55%
EPS beat(4)0
Avg EPS beat(4)-184.53%
Min EPS beat(4)-573.97%
Max EPS beat(4)-19.55%
EPS beat(8)2
Avg EPS beat(8)-30.76%
EPS beat(12)5
Avg EPS beat(12)49.18%
EPS beat(16)6
Avg EPS beat(16)88.73%
Revenue beat(2)1
Avg Revenue beat(2)4.15%
Min Revenue beat(2)-0.04%
Max Revenue beat(2)8.33%
Revenue beat(4)2
Avg Revenue beat(4)-1.25%
Min Revenue beat(4)-18.82%
Max Revenue beat(4)8.33%
Revenue beat(8)5
Avg Revenue beat(8)-1.47%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-2.94%
PT rev (3m)-10.71%
EPS NQ rev (1m)4.55%
EPS NQ rev (3m)4.55%
EPS NY rev (1m)13.79%
EPS NY rev (3m)1.54%
Revenue NQ rev (1m)4.74%
Revenue NQ rev (3m)4.74%
Revenue NY rev (1m)-19.85%
Revenue NY rev (3m)-21.03%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 7.24 | ||
| P/S | 0.77 | ||
| P/FCF | 4.46 | ||
| P/OCF | 1.34 | ||
| P/B | 0.65 | ||
| P/tB | 0.65 | ||
| EV/EBITDA | 2.19 |
EPS(TTM)-0.29
EYN/A
EPS(NY)0.32
Fwd EY13.82%
FCF(TTM)0.51
FCFY22.43%
OCF(TTM)1.71
OCFY74.54%
SpS2.99
BVpS3.55
TBVpS3.55
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -4.61% | ||
| ROE | -8.81% | ||
| ROCE | 10.6% | ||
| ROIC | 8.38% | ||
| ROICexc | 8.4% | ||
| ROICexgc | 8.4% | ||
| OM | 22.02% | ||
| PM (TTM) | N/A | ||
| GM | 79.94% | ||
| FCFM | 17.16% |
ROA(3y)15.67%
ROA(5y)-4.95%
ROE(3y)31.7%
ROE(5y)-65.43%
ROIC(3y)10.74%
ROIC(5y)N/A
ROICexc(3y)10.76%
ROICexc(5y)N/A
ROICexgc(3y)10.76%
ROICexgc(5y)N/A
ROCE(3y)13.59%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y83%
ROICexc growth 3YN/A
ROICexc growth 5Y83%
OM growth 3YN/A
OM growth 5Y56.68%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y10.09%
GM growth 5Y1.85%
F-Score5
Asset Turnover0.44
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.57 | ||
| Debt/FCF | 3.97 | ||
| Debt/EBITDA | 1.04 | ||
| Cap/Depr | 92.95% | ||
| Cap/Sales | 39.88% | ||
| Interest Coverage | 3.47 | ||
| Cash Conversion | 87.85% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.69 | ||
| Quick Ratio | 0.69 | ||
| Altman-Z | 0.52 |
F-Score5
WACC8.18%
ROIC/WACC1.02
Cap/Depr(3y)86.01%
Cap/Depr(5y)78.44%
Cap/Sales(3y)27.37%
Cap/Sales(5y)30.88%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-133.06%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%53.33%
EPS Next Y396.27%
EPS Next 2Y124.28%
EPS Next 3Y50.58%
EPS Next 5Y33.34%
Revenue 1Y (TTM)39.63%
Revenue growth 3Y49.51%
Revenue growth 5Y19.46%
Sales Q2Q%-7.6%
Revenue Next Year-0.67%
Revenue Next 2Y-2.07%
Revenue Next 3Y-0.38%
Revenue Next 5Y1.22%
EBIT growth 1Y17.5%
EBIT growth 3YN/A
EBIT growth 5Y87.17%
EBIT Next Year261.83%
EBIT Next 3Y50.59%
EBIT Next 5Y20.13%
FCF growth 1Y-6.42%
FCF growth 3Y50.35%
FCF growth 5YN/A
OCF growth 1Y72.42%
OCF growth 3Y54.24%
OCF growth 5Y21.7%