Baytex Energy Corp

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BTE : NYSE : Basic Materials
$3.85 | %
Today's Range: 3.77 - 4.10
Avg. Daily Volume: 2,623,500
09/23/16 - 4:02 PM ET

Financial Analysis


BAYTEX ENERGY CORP's gross profit margin for the second quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Sales and net income fell significantly; although net income growth outperformed the average competitor in its industry, revenue growth did not. BAYTEX ENERGY CORP has weak liquidity. Currently, the Quick Ratio is 0.58 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

At the same time, stockholders' equity ("net worth") has significantly decreased by 28.29% 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 Q2 FY16 Q2 FY15
Net Sales ($mil)153.35264.92
EBITDA ($mil)73.66133.47
EBIT ($mil)-49.85-31.78
Net Income ($mil)-86.94-26.96


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)0.420.27
Total Assets ($mil)5089.286189.42
Total Debt ($mil)1868.151660.7
Equity ($mil)2183.873045.63


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin57.2557.08
EBITDA Margin48.0350.38
Operating Margin-32.51-12.0
Sales Turnover0.130.22
Return on Assets-19.98-6.79
Return on Equity-46.57-13.8
Debt Q2 FY16 Q2 FY15
Current Ratio0.830.65
Debt/Capital0.460.35
Interest Expense26.3223.01
Interest Coverage-1.89-1.38


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)210.72206.19
Div / share0.00.24
EPS-0.41-0.13
Book value / share10.3614.77
Institutional Own % n/a n/a
Avg Daily Volume2728654.02960556.0

Valuation


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 0.38 indicates a significant discount versus the S&P 500 average of 2.78 and a significant discount versus the industry average of 14.73. 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.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
BTE NM Peers 77.95   BTE 2.93 Peers 10.77

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.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
BTE NA Peers 45.38   BTE NA Peers 3.86

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.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
BTE 0.38 Peers 14.73   BTE -96.76 Peers -229.88

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.

 

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

BTE is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
BTE 1.26 Peers 2.51   BTE -50.66 Peers -26.22

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.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

BTE significantly trails its peers on the basis of sales growth

 

 

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