BAYTEX ENERGY CORP (BTE) Stock Fundamental Analysis
USA - New York Stock Exchange - NYSE:BTE - CA07317Q1054 - Common Stock
3.01 USD
-0.09 (-2.9%)
3.05 USD
+0.04 (+1.33%)
We assign a fundamental rating of 4 out of 10 to BTE. BTE was compared to 208 industry peers in the Oil, Gas & Consumable Fuels industry. While BTE is still in line with the averages on profitability rating, there are concerns on its financial health. BTE is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year BTE was profitable.
BTE had a positive operating cash flow in the past year.
In multiple years BTE reported negative net income over the last 5 years.
BTE had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
BTE has a Return On Assets (2.82%) which is in line with its industry peers.
With a Return On Equity value of 5.12%, BTE perfoms like the industry average, outperforming 43.27% of the companies in the same industry.
BTE has a Return On Invested Capital (5.61%) which is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for BTE is significantly below the industry average of 21.00%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.82% | ||
| ROE | 5.12% | ||
| ROIC | 5.61% |
ROA(3y)5.56%
ROA(5y)-4.3%
ROE(3y)9.27%
ROE(5y)-64.21%
ROIC(3y)8.42%
ROIC(5y)N/A
1.3 Margins
BTE has a Profit Margin (7.02%) which is comparable to the rest of the industry.
BTE's Profit Margin has declined in the last couple of years.
BTE has a Operating Margin of 20.16%. This is comparable to the rest of the industry: BTE outperforms 56.25% of its industry peers.
BTE's Operating Margin has improved in the last couple of years.
BTE has a Gross Margin of 79.89%. This is amongst the best in the industry. BTE outperforms 89.90% of its industry peers.
BTE's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 20.16% | ||
| PM (TTM) | 7.02% | ||
| GM | 79.89% |
OM growth 3Y-12.27%
OM growth 5Y17.02%
PM growth 3Y-59.31%
PM growth 5YN/A
GM growth 3Y1.18%
GM growth 5Y1.87%
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.
The number of shares outstanding for BTE has been reduced compared to 1 year ago.
Compared to 5 years ago, BTE has more shares outstanding
The debt/assets ratio for BTE has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.59, we must say that BTE is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.59, BTE is doing worse than 62.98% of the companies in the same industry.
The Debt to FCF ratio of BTE is 4.80, which is a neutral value as it means it would take BTE, 4.80 years of fcf income to pay off all of its debts.
BTE has a Debt to FCF ratio of 4.80. This is in the better half of the industry: BTE outperforms 65.87% of its industry peers.
BTE has a Debt/Equity ratio of 0.48. This is a healthy value indicating a solid balance between debt and equity.
BTE has a Debt to Equity ratio (0.48) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.48 | ||
| Debt/FCF | 4.8 | ||
| Altman-Z | 0.59 |
ROIC/WACC0.73
WACC7.74%
2.3 Liquidity
BTE has a Current Ratio of 0.58. 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 0.58 is on the low side compared to the rest of the industry. BTE is outperformed by 80.29% of its industry peers.
BTE has a Quick Ratio of 0.58. This is a bad value and indicates that BTE is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.58, BTE is doing worse than 74.04% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.58 | ||
| Quick Ratio | 0.58 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 168.29% over the past year.
The earnings per share for BTE have been decreasing by -32.67% on average. This is quite bad
BTE shows a decrease in Revenue. In the last year, the revenue decreased by -8.89%.
BTE shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 17.51% yearly.
EPS 1Y (TTM)168.29%
EPS 3Y-32.67%
EPS 5YN/A
EPS Q2Q%-82.61%
Revenue 1Y (TTM)-8.89%
Revenue growth 3Y29.61%
Revenue growth 5Y17.51%
Sales Q2Q%-30.54%
3.2 Future
The Earnings Per Share is expected to decrease by -36.26% on average over the next years. This is quite bad
BTE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.69% yearly.
EPS Next Y9.71%
EPS Next 2Y-55.57%
EPS Next 3Y-42.94%
EPS Next 5Y-36.26%
Revenue Next Year-13.84%
Revenue Next 2Y-22.15%
Revenue Next 3Y-11.45%
Revenue Next 5Y1.69%
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
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
With a Price/Earnings ratio of 15.05, BTE is valued correctly.
BTE's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of BTE to the average of the S&P500 Index (26.43), we can say BTE is valued slightly cheaper.
The Price/Forward Earnings ratio is 72.37, which means the current valuation is very expensive for BTE.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BTE indicates a slightly more expensive valuation: BTE is more expensive than 65.38% of the companies listed in the same industry.
BTE is valuated expensively when we compare the Price/Forward Earnings ratio to 23.66, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.05 | ||
| Fwd PE | 72.37 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BTE is valued cheaper than 91.35% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, BTE is valued cheaper than 85.10% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.58 | ||
| EV/EBITDA | 2.7 |
4.3 Compensation for Growth
BTE's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A cheap valuation may be justified as BTE's earnings are expected to decrease with -42.94% in the coming years.
PEG (NY)1.55
PEG (5Y)N/A
EPS Next 2Y-55.57%
EPS Next 3Y-42.94%
5. Dividend
5.1 Amount
BTE has a Yearly Dividend Yield of 2.15%. Purely for dividend investing, there may be better candidates out there.
BTE's Dividend Yield is comparable with the industry average which is at 3.83.
BTE's Dividend Yield is comparable with the S&P500 average which is at 1.87.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.15% |
5.2 History
The dividend of BTE decreases each year by -45.77%.
BTE has paid a dividend for at least 10 years, which is a reliable track record.
BTE has decreased its dividend recently.
Dividend Growth(5Y)-45.77%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
BTE pays out 32.39% of its income as dividend. This is a sustainable payout ratio.
The Dividend Rate of BTE has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP32.39%
EPS Next 2Y-55.57%
EPS Next 3Y-42.94%
3.01
-0.09 (-2.9%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners31.25%
Inst Owner Change-7.96%
Ins Owners0.56%
Ins Owner ChangeN/A
Market Cap2.31B
Revenue(TTM)3.06B
Net Income(TTM)214.63M
Analysts74.67
Price Target3.57 (18.6%)
Short Float %3.28%
Short Ratio0.95
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.15% |
Yearly Dividend0.07
Dividend Growth(5Y)-45.77%
DP32.39%
Div Incr Years1
Div Non Decr Years1
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)357.79%
Min EPS beat(2)155.51%
Max EPS beat(2)560.07%
EPS beat(4)2
Avg EPS beat(4)135.46%
Min EPS beat(4)-151.21%
Max EPS beat(4)560.07%
EPS beat(8)2
Avg EPS beat(8)-24.53%
EPS beat(12)4
Avg EPS beat(12)24.64%
EPS beat(16)7
Avg EPS beat(16)70.75%
Revenue beat(2)1
Avg Revenue beat(2)6.57%
Min Revenue beat(2)-0.85%
Max Revenue beat(2)13.99%
Revenue beat(4)2
Avg Revenue beat(4)4.86%
Min Revenue beat(4)-0.85%
Max Revenue beat(4)13.99%
Revenue beat(8)4
Avg Revenue beat(8)1.8%
Revenue beat(12)7
Avg Revenue beat(12)0.64%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)22.31%
PT rev (3m)20.48%
EPS NQ rev (1m)-400%
EPS NQ rev (3m)87.5%
EPS NY rev (1m)13.44%
EPS NY rev (3m)22.73%
Revenue NQ rev (1m)-3.48%
Revenue NQ rev (3m)-3.48%
Revenue NY rev (1m)1.66%
Revenue NY rev (3m)-18.26%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.05 | ||
| Fwd PE | 72.37 | ||
| P/S | 1.04 | ||
| P/FCF | 7.58 | ||
| P/OCF | 1.84 | ||
| P/B | 0.76 | ||
| P/tB | 0.76 | ||
| EV/EBITDA | 2.7 |
EPS(TTM)0.2
EY6.64%
EPS(NY)0.04
Fwd EY1.38%
FCF(TTM)0.4
FCFY13.19%
OCF(TTM)1.63
OCFY54.27%
SpS2.89
BVpS3.96
TBVpS3.96
PEG (NY)1.55
PEG (5Y)N/A
Graham Number4.22
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.82% | ||
| ROE | 5.12% | ||
| ROCE | 8.85% | ||
| ROIC | 5.61% | ||
| ROICexc | 5.62% | ||
| ROICexgc | 5.62% | ||
| OM | 20.16% | ||
| PM (TTM) | 7.02% | ||
| GM | 79.89% | ||
| FCFM | 13.73% |
ROA(3y)5.56%
ROA(5y)-4.3%
ROE(3y)9.27%
ROE(5y)-64.21%
ROIC(3y)8.42%
ROIC(5y)N/A
ROICexc(3y)8.44%
ROICexc(5y)N/A
ROICexgc(3y)8.44%
ROICexgc(5y)N/A
ROCE(3y)13.28%
ROCE(5y)N/A
ROICexgc growth 3Y-2.67%
ROICexgc growth 5Y31.22%
ROICexc growth 3Y-2.67%
ROICexc growth 5Y31.22%
OM growth 3Y-12.27%
OM growth 5Y17.02%
PM growth 3Y-59.31%
PM growth 5YN/A
GM growth 3Y1.18%
GM growth 5Y1.87%
F-Score6
Asset Turnover0.4
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.48 | ||
| Debt/FCF | 4.8 | ||
| Debt/EBITDA | 1.04 | ||
| Cap/Depr | 100.3% | ||
| Cap/Sales | 42.77% | ||
| Interest Coverage | 3.36 | ||
| Cash Conversion | 89.97% | ||
| Profit Quality | 195.57% | ||
| Current Ratio | 0.58 | ||
| Quick Ratio | 0.58 | ||
| Altman-Z | 0.59 |
F-Score6
WACC7.74%
ROIC/WACC0.73
Cap/Depr(3y)94.96%
Cap/Depr(5y)82.19%
Cap/Sales(3y)33.65%
Cap/Sales(5y)31.28%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)168.29%
EPS 3Y-32.67%
EPS 5YN/A
EPS Q2Q%-82.61%
EPS Next Y9.71%
EPS Next 2Y-55.57%
EPS Next 3Y-42.94%
EPS Next 5Y-36.26%
Revenue 1Y (TTM)-8.89%
Revenue growth 3Y29.61%
Revenue growth 5Y17.51%
Sales Q2Q%-30.54%
Revenue Next Year-13.84%
Revenue Next 2Y-22.15%
Revenue Next 3Y-11.45%
Revenue Next 5Y1.69%
EBIT growth 1Y-16.6%
EBIT growth 3Y13.71%
EBIT growth 5Y37.51%
EBIT Next Year70.26%
EBIT Next 3Y-12.81%
EBIT Next 5Y-7.16%
FCF growth 1Y110.83%
FCF growth 3Y14.4%
FCF growth 5Y16.36%
OCF growth 1Y53.56%
OCF growth 3Y38.88%
OCF growth 5Y17.98%
BAYTEX ENERGY CORP / BTE FAQ
What is the fundamental rating for BTE stock?
ChartMill assigns a fundamental rating of 4 / 10 to BTE.
What is the valuation status for BTE stock?
ChartMill assigns a valuation rating of 4 / 10 to BAYTEX ENERGY CORP (BTE). This can be considered as Fairly Valued.
Can you provide the profitability details for BAYTEX ENERGY CORP?
BAYTEX ENERGY CORP (BTE) has a profitability rating of 5 / 10.
Can you provide the PE and PB ratios for BTE stock?
The Price/Earnings (PE) ratio for BAYTEX ENERGY CORP (BTE) is 15.05 and the Price/Book (PB) ratio is 0.76.
What is the expected EPS growth for BAYTEX ENERGY CORP (BTE) stock?
The Earnings per Share (EPS) of BAYTEX ENERGY CORP (BTE) is expected to grow by 9.71% in the next year.