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    Oil & Gas Exploration & Production
Baytex Energy Corp.

Baytex Energy Corp.

BTE.TO
Baytex Energy Corp.CA flagToronto Stock Exchange
5.71
CAD
+0.11
- -
4.23BMarket Cap
Baytex Energy Corp.
BTE.TO
(Toronto Stock Exchange)

Recent

price

5.71

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
9
11.26
8.54
9.01
10.27
5.66
3.67
4.68
4.06
3.24
1.74
3.31
5.18
4.8
2.33
2.19
1.5
Revenue per Share
2.08
1.88
2.16
1.33
-0.89
-5.77
-2.29
0.37
-0.93
-0.02
-4.35
2.86
1.53
-0.33
0.29
-0.78
-0.98
Basic EPS, GAAP
1.79
1.09
0.07
0.65
1.24
0.13
0.11
-0.31
-0.04
0.5
0.13
0.7
1.16
0.34
0.74
0.27
0.2
Free Cash Flow per Basic Share
1.69
1.76
1.79
1.92
2.06
0.55
- -
- -
- -
- -
- -
- -
- -
0.05
0.09
0.09
0.09
Dividend per Share
-4.41
-4.79
10.39
9.92
15.28
8.51
6.25
6.12
6.74
4.26
-0.1
2.78
3.91
4.17
3.38
2.57
2.12
Book Value per Share
9.63
10.08
10.52
10.06
15.19
12.18
9.32
8.16
8.69
5.29
1.03
3.92
5.43
5.43
5.19
3.11
2.81
Tangible Book Value per Share
111
116
120
124
149
198
212
235
352
557
561
564
558
705
803
769
758
Basic Weighted Avg Shares
1,003
1,306
1,025
1,115
1,530
1,121
780
1,100
1,429
1,806
975
1,868
2,889
3,383
1,874
1,685
1,138
Sales/Revenue/Turnover
11.14
23.14
18.28
23.04
25.18
-25.15
-33.56
-6.04
2.88
8.68
-15.33
28.05
32.99
19.01
19.05
13.43
7.44
Operating Margin (%)
203
248
298
329
537
662
508
482
559
732
486
465
587
1,048
1,386
1,265
1,068
Depreciation Expense
232
217
259
165
-133
-1,143
-485
87
-325
-12
-2,439
1,614
856
-233
237
-604
-741
Net Income, GAAP
- -
19.34
31.29
24.26
8,484.28
- -
- -
- -
- -
- -
- -
4.79
3.96
- -
36.62
- -
44.9
Effective Tax Rate (%)
23.09
16.65
25.23
14.78
-8.68
-101.91
-62.2
7.93
-22.77
-0.69
-250.03
86.37
29.62
-6.9
12.62
-35.84
-65.06
Profit Margin (%)
-59
-50
-25
-24
-45
-63
-34
-66
-69
-49
-86
-157
-44
-118
-124
860
536
Working Capital
451
610
558
675
2,062
1,855
1,754
1,686
2,104
1,842
1,789
1,385
934
2,427
2,273
111
136
LT Debt
1,111
1,207
1,299
1,282
2,507
2,414
1,979
1,915
3,055
2,947
578
2,211
3,030
3,825
4,171
2,389
2,133
Total Equity
- -
14.42
7.01
10.2
-989.56
- -
- -
- -
- -
- -
- -
16.71
24.19
- -
7.68
- -
0.84
Return on Invested Capital (%)
- -
3,980.75
30.78
10.57
-226.65
- -
- -
- -
- -
- -
- -
72.53
30.71
- -
7.08
- -
13.45
Return on Capital (%)
- -
- -
- -
13.33
-7.58
-57.67
-32.19
6.31
-17.1
-0.53
- -
- -
45.63
-9.11
8.36
-25.73
-34.08
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
11
7
9
LT Borrowings
1,982
95
88
LT Finance Leases
20
16
49
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
768
766
731
Market Capitalization
2,510
3,419
4,714

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
376
1,190
1,002
Cash, Cash Equivalents & STI
10
953
758
Accounts Receivable, Net
60
33
195
Inventories
- -
- -
14
Total Current Liabilities
642
330
466
Payables & Accruals
571
254
320
ST Debt
11
7
9
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
26.64%
62.4%
-42.72%
Free Cash Flow
-230.79%
109.21%
-65.06%
Net Income, GAAP
1,783.41%
-179.4%
-355.19%
Sales/Revenue/Turnover
12.94%
21.71%
-10.11%
Total Cash Common Dividend
- -
- -
-3.89%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
984
1,133
1,075
1,017
1,874
2025
454
887
928
-1,129
1,685
2026
453
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.02
0.13
0.23
- -
0.29
2025
0.09
0.2
- -
- -
-0.78
2026
-0.09
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.02
0.02
- -
0.09
2025
0.02
0.02
- -
- -
0.09
2026
0.02
- -
- -
- -
- -
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Business
Baytex Energy Corp. is a Canadian energy company engaged in the acquisition, development, and production of crude oil and natural gas, primarily operating within the Western Canadian Sedimentary Basin. Its core products include light oil and condensate, heavy oil, natural gas liquids, and natural gas. Baytex’s key geographic operations encompass the Peace River, Lloydminster, Viking, and Duvernay areas in Alberta and Saskatchewan, Canada. The company was founded in 1993 and is headquartered in Calgary, Alberta, with offices in Houston, Texas. In recent strategic developments, Baytex announced the sale of its U.S. Eagle Ford assets for approximately CAD 3.25 billion, marking a full exit from its U.S. operations to refocus on higher-return Canadian heavy oil and Duvernay assets. The transaction, expected to close by early 2026, will enable Baytex to significantly reduce its debt, repurchase stock, and prioritize capital allocation towards its Canadian core portfolio. The company also advances energy transition initiatives through partnerships in carbon capture and renewable natural gas, positioning itself for a lower-carbon future while maintaining strong oil and liquids production. Baytex maintains a strategic focus on disciplined capital investment, targeting annual production growth of 3-5% from 2024 to 2028 and emphasizing free cash flow generation and debt reduction to strengthen its financial position. This shift includes leveraging operational efficiencies, advancing carbon-neutral hydrogen production, and optimizing its portfolio to enhance long-term shareholder value. Baytex’s common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the ticker BTE.