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    Energy

  3. •

    Oil & Gas Exploration & Production
Gear Energy Ltd.

Gear Energy Ltd.

GXE.TO
Gear Energy Ltd.CA flagToronto Stock Exchange
0.48
CAD
- -
- -
126.52MMarket Cap
Gear Energy Ltd.
GXE.TO
(Toronto Stock Exchange)

Recent

price

0.48

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
TTM
FRC
0.95
1.45
1.81
2.46
1.11
0.48
0.53
0.54
0.6
0.3
0.52
0.72
0.57
0.58
Revenue per Share
-0.28
0.01
-0.02
-0.2
-1.34
-0.18
0.05
0.03
-0.03
-0.36
0.32
0.29
0.03
0.05
Basic EPS, GAAP
0.09
-0.26
-0.26
-1.53
0.36
0.08
-0.07
-0.01
0.06
0.08
0.09
0.15
0.06
0.09
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.07
0.09
0.06
Dividend per Share
2.09
2.18
2.16
2.52
1.13
0.94
0.71
0.84
0.74
0.38
0.72
0.9
0.83
0.86
Book Value per Share
2.24
2.31
2.34
2.67
1.31
1.07
0.81
0.93
0.83
0.48
0.8
0.97
0.9
0.93
Tangible Book Value per Share
54
54
54
67
72
133
193
202
219
217
249
260
262
263
Basic Weighted Avg Shares
51
78
98
164
80
64
103
109
132
65
129
187
149
153
Sales/Revenue/Turnover
-3.35
-0.47
7.24
16.66
-20.14
-6.93
7.32
5.53
11.57
-19.7
25.88
34.68
15.68
17.53
Operating Margin (%)
17
30
32
48
40
27
38
42
50
32
35
37
43
44
Depreciation Expense
-15
1
-1
-13
-97
-24
10
5
-6
-77
80
75
9
12
Net Income, GAAP
- -
82.09
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
57.2
48.51
Effective Tax Rate (%)
-29.45
0.7
-1.09
-7.96
-120.09
-36.78
9.97
4.66
-4.3
-118.86
62.39
40.04
5.77
7.97
Profit Margin (%)
-35
-48
-69
-85
-44
1
6
6
-11
3
1
-1
1
4
Working Capital
- -
- -
- -
- -
12
43
54
91
64
59
26
7
21
15
LT Debt
121
125
126
178
94
142
156
188
182
105
199
252
237
245
Total Equity
- -
-0.04
- -
- -
- -
- -
- -
2.48
- -
- -
- -
- -
3.86
5.21
Return on Invested Capital (%)
- -
0.52
- -
- -
- -
- -
- -
4.48
- -
- -
- -
- -
4.37
5.76
Return on Capital (%)
- -
0.47
-0.9
-9.19
-77.33
-22.86
7.76
3.31
-3.43
-63.31
61.38
36.27
3.8
5.34
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'24
Jun'24
Sep'24
ST Debt
- -
- -
- -
LT Borrowings
22
15
15
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
263
264
264
Market Capitalization
161
172
151

Working Capital

FRC

•

in mil. unless spec.
Mar'24
Jun'24
Sep'24
Total Current Assets
26
25
23
Cash, Cash Equivalents & STI
- -
- -
- -
Accounts Receivable, Net
15
14
13
Inventories
7
7
6
Total Current Liabilities
23
27
20
Payables & Accruals
16
19
13
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.99%
12.95%
-5.91%
Free Cash Flow
-39.54%
-105.36%
-61.03%
Net Income, GAAP
225.45%
150.07%
-88.55%
Sales/Revenue/Turnover
15.63%
18.58%
-20.59%
Total Cash Common Dividend
- -
- -
36.88%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
46
58
45
39
187
2023
34
36
41
38
149
2024
36
41
39
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
0.02
0.09
0.07
- -
0.29
2023
0.01
0.02
0.03
- -
0.03
2024
0.01
0.04
0.03
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
- -
0.01
0.03
- -
0.07
2023
0.03
0.03
0.02
- -
0.09
2024
0.01
0.01
0.02
- -
- -
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Business
Gear Energy Ltd. (TSX: GXE) is an oil-focused exploration and production company that acquires, develops and holds interests in petroleum and natural gas properties and assets in Canada. The company operates light/medium oil assets in Central Alberta, including Wilson Creek, Ferrier, Killam, Drayton Valley and Chigwell; heavy oil properties in the Lloydminster area; and additional oil assets in Southeast Saskatchewan and West Central Saskatchewan, with a focus on improving oil recoveries through waterflood technology and low-risk drilling opportunities. Gear Energy employs conventional production techniques, natural gas tie-ins for emissions reduction and revenue enhancement, and targeted exploitation across multiple producing horizons in geographically focused areas. Founded in 2005 and headquartered in Calgary, Alberta, the company conducted all operations in Canada prior to its restructuring. In February 2025, Cenovus Energy Inc. acquired Gear Energy for approximately CAD 160 million, making it a wholly-owned subsidiary; immediately prior, Gear conveyed its non-Lloydminster assets to subsidiary Lotus Creek Exploration Inc., which now operates independently. Gear subsequently transferred legal title of its remaining assets, primarily Lloydminster heavy oil properties, to Cenovus.