Baytex Energy Corp.

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BTE : NYSE : Energy Minerals
$2.91 | %
Today's Range: 0.0 - 0.0
Avg. Daily Volume: 1891700.0
03/22/18 - 4:01 PM ET

Financial Analysis

BAYTEX ENERGY CORP's gross profit margin for the third quarter of its fiscal year 2017 has significantly increased when compared to the same period a year ago. Even though it increased sales and net income significantly, the company was unable to grow at a faster pace than its industry competitors. BAYTEX ENERGY CORP has weak liquidity. Currently, the Quick Ratio is 0.72 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

During the same period, stockholders' equity ("net worth") has decreased by 15.34% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q3 FY17 Q3 FY16
Net Sales ($mil)199.25152.12
EBITDA ($mil)99.6340.89
EBIT ($mil)-20.0-78.81
Net Income ($mil)-9.23-39.43

Balance Sheet Q3 FY17 Q3 FY16
Cash & Equiv. ($mil)0.550.9
Total Assets ($mil)4353.644995.88
Total Debt ($mil)1697.271822.23
Equity ($mil)1836.92169.86

Profitability Q3 FY17 Q3 FY16
Gross Profit Margin55.8135.63
EBITDA Margin50.026.88
Operating Margin-10.04-51.81
Sales Turnover0.180.12
Return on Assets-7.99-10.9
Return on Equity-18.96-25.11
Debt Q3 FY17 Q3 FY16
Current Ratio0.740.86
Interest Expense25.5326.94
Interest Coverage-0.78-2.93

Share Data Q3 FY17 Q3 FY16
Shares outstanding (mil)235.45211.54
Div / share0.00.0
Book value / share7.810.26
Institutional Own % n/a n/a
Avg Daily Volume1971348.01719209.0


SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. For additional comparison, its price-to-book ratio of 0.35 indicates a significant discount versus the S&P 500 average of 3.28 and a significant discount versus the industry average of 24.41. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. After reviewing these and other key valuation criteria, BAYTEX ENERGY CORP proves to trade at a discount to investment alternatives within the industry.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
BTE NM Peers 44.17   BTE 2.62 Peers 8.37

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

BTE's P/E is negative making this valuation measure meaningless.


Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

BTE is trading at a significant discount to its peers.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
BTE NA Peers 20.30   BTE NA Peers 0.58

Neutral. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth potential.

Ratio not available.


Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
BTE 0.35 Peers 24.41   BTE 37.84 Peers 514.44

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

BTE is trading at a significant discount to its peers.


Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, BTE is expected to significantly trail its peers on the basis of its earnings growth rate.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
BTE 0.81 Peers 1.94   BTE 31.42 Peers 30.87

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

BTE is trading at a significant discount to its industry on this measurement.


Average. Comparing a company's sales growth to its industry helps to determine if the company is adding or losing market share.

BTE is keeping pace with its peers on the basis of sales growth.



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