NYSE : BTE

Baytex Energy Corp. — Financial statements

Energy · Oil & Gas Exploration & Production · Canada

Last price 5.37 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.76B

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Financial statements

Baytex Energy Corp. (BTE) reported revenue of 1.67B CAD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year January - December; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Revenue1.67B1.48B1.61B2.71B2.33B1.53B
Cost of Revenue686.01M653.00M685.76M933.99M660.68M460.95M
Gross Profit987.61M827.81M927.08M1.78B1.67B1.07B
Selling, General & Admin71.52M67.90M58.36M69.79M50.27M40.80M
Other Operating Expenses135.52M36.19M15.16M-4.29M214.69M300.25M
Operating Expenses914.26M766.60M569.49M1.99B643.56M-710.43M
Operating Income73.35M61.22M357.59M-214.82M1.02B1.78B
Interest Expense-134.38M-217.55M-203.34M-171.77M-86.67M-96.93M
Currency Exchange Gain (Loss)-12.06M94.02M-155.90M10.85M-43.44M2.87M
Other Non Operating Income (Expenses)-6.63M-7.97M5.14M456.00K-3.24M2.56M
EBT Excluding Unusual Items-69.04M-70.28M3.50M-375.29M888.48M1.69B
Gain (Loss) on Sale of Assets5.37M2.53M4.13M-141.29M4.90M9.67M
Other Unusual Items-88.41M-85.36M-24.35M-2.46M-1.85M
Pretax Income-152.08M-153.11M-16.72M-516.58M890.91M1.69B
Income Tax Expense121.52M123.73M80.73M-283.23M35.31M81.24M
Earnings From Continuing Operations-273.60M-276.85M-97.45M-233.36M855.61M1.61B
Earnings From Discontinued Operations-443.78M-326.93M334.05M
Net Income-717.38M-603.78M236.60M-233.36M855.61M1.61B
Net Income to Common-717.38M-603.78M236.60M-233.36M855.61M1.61B
Shares Outstanding (Basic)751.20M769.18M803.43M704.90M557.99M563.67M
Shares Outstanding (Diluted)751.20M769.18M807.71M704.90M563.84M571.61M
EPS (Basic)-0.95-0.780.29-0.331.532.86
EPS (Diluted)-0.95-0.790.29-0.331.522.82
Free Cash Flow263.50M207.47M593.85M239.61M648.83M396.62M
Free Cash Flow Per Share0.350.270.730.341.150.69
Dividend Per Share0.090.090.090.04
Gross Margin59.01%55.90%57.48%65.57%71.60%69.85%
Operating Margin4.38%4.13%22.17%-7.92%43.93%116.32%
Profit Margin-42.86%-40.77%14.67%-8.60%36.78%105.53%
Free Cash Flow Margin15.74%14.01%36.82%8.83%27.89%25.94%
EBITDA725.97M699.68M841.68M1.70B1.39B2.33B
EBITDA Margin43.38%47.25%52.19%62.52%59.63%152.18%
D&A For EBITDA652.62M638.47M484.09M1.91B365.23M548.36M
EBIT73.35M61.22M357.59M-214.82M1.02B1.78B
EBIT Margin4.38%4.13%22.17%-7.92%43.93%116.32%
Effective Tax Rate3.96%4.79%
Revenue as Reported1.67B1.48B1.61B2.71B2.33B1.53B

Balance sheet

Fiscal year January - December; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents720.34M953.11M16.61M55.81M5.46M
Cash & Short-Term Investments720.34M953.11M16.61M55.81M5.46M
Receivables188.26M135.23M387.27M339.40M200.91M173.41M
Prepaid Expenses36.05M35.01M20.18M21.53M6.38M
Other Current Assets10.61M67.02M25.57M23.27M31.30M8.65M
Total Current Assets964.02M1.19B449.63M440.02M244.05M182.06M
Property, Plant & Equipment2.17B2.08B7.08B6.75B4.80B4.65B
Long-Term Deferred Tax Assets15.59M46.34M178.21M213.15M57.24M
Other Long-Term Assets24.66M28.22M56.29M61.73M
Total Assets3.17B3.35B7.76B7.46B5.10B4.83B
Accounts Payable275.03M236.37M512.47M477.30M227.33M190.69M
Current Portion of Leases10.45M7.17M9.19M13.39M3.52M2.94M
Other Current Liabilities33.49M86.63M52.06M67.34M57.68M145.10M
Total Current Liabilities342.38M330.18M573.73M558.02M288.53M338.73M
Long-Term Debt89.23M94.97M2.26B2.41B930.63M1.38B
Long-Term Leases49.81M15.84M15.46M16.06M3.02M4.83M
Long-Term Deferred Tax Liabilities88.56M21.33M265.86M167.46M
Other Long-Term Liabilities535.25M515.37M653.75M629.32M585.32M732.60M
Total Liabilities1.02B956.37M3.59B3.64B2.07B2.62B
Common Stock5.61B6.07B6.14B6.53B5.50B5.74B
Additional Paid-In Capital547.90M397.68M361.85M193.08M89.88M13.56M
Retained Earnings-4.02B-4.09B-3.42B-3.59B-3.32B-4.17B
Comprehensive Income & Other13.57M13.36M1.09B690.92M756.20M632.10M
Shareholders' Equity2.15B2.39B4.17B3.83B3.03B2.21B
Total Liabilities & Equity3.17B3.35B7.76B7.46B5.10B4.83B
Total Debt149.49M117.99M2.28B2.44B937.17M1.39B
Net Cash (Debt)570.85M835.12M-2.27B-2.38B-931.70M-1.39B
Net Cash Per Share0.761.09-2.80-3.38-1.65-2.43
Filing Date Shares Outstanding699.20M765.57M773.59M821.70M544.93M564.20M
Total Common Shares Outstanding708.89M765.57M773.59M821.68M544.93M564.21M
Working Capital621.64M860.19M-124.10M-118.00M-44.48M-156.67M
Book Value Per Share3.043.125.394.665.563.92
Tangible Book Value2.15B2.39B4.17B3.83B3.03B2.21B
Tangible Book Value Per Share3.043.125.394.665.563.92
Machinery7.26M7.65M8.03M7.94M6.57M7.12M

Cash flow statement

Fiscal year January - December; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-717.38M-603.78M236.60M-233.36M855.61M1.61B
Depreciation & Amortization658.24M638.47M484.09M1.91B365.23M-1.05B
Other Amortization-5.33M11.94M6.29M4.86M
Loss (Gain) From Sale of Assets485.52M508.08M1.22M141.29M-4.90M-9.67M
Stock-Based Compensation4.86M16.24M3.16M6.39M
Other Operating Activities246.81M145.32M301.68M-330.36M-78.58M174.03M
Change in Other Net Operating Assets8.24M18.11M-17.92M-220.90M26.07M-26.58M
Operating Cash Flow1.05B1.49B1.91B1.30B1.17B712.38M
Capital Expenditures-789.89M-1.28B-1.31B-1.06B-524.04M-315.77M
Sale of Property, Plant & Equipment3.07B3.04B46.49M160.26M25.65M7.80M
Cash Acquisitions-662.58M
Other Investing Activities-51.66M17.82M-11.38M46.81M9.40M-2.80M
Investing Cash Flow2.23B1.78B-1.28B-1.51B-488.99M-310.76M
Long-Term Debt Issued780.94M1.52B
Long-Term Debt Repaid-2.23B-1.14B-954.39M-517.30M-401.62M
Lease Payments-10.91M-13.27M-15.51M-11.53M-3.73M-4.33M
Net Debt Issued (Repaid)-2.18B-2.23B-355.16M569.19M-517.30M-401.62M
Repurchase of Common Stock-328.58M-29.42M-222.20M-221.93M-158.98M
Common Dividends Paid-67.34M-69.19M-71.98M-37.52M
Other Financing Activities6.16M-4.62M-18.82M-43.49M-2.14M
Financing Cash Flow-2.57B-2.33B-668.17M266.25M-678.42M-401.62M
Net Cash Flow711.38M936.50M-39.20M50.35M5.46M
Free Cash Flow263.50M207.47M593.85M239.61M648.83M396.62M
Free Cash Flow Margin15.74%14.01%36.82%8.83%27.89%25.94%
Free Cash Flow Per Share0.350.270.730.341.150.69
Levered Free Cash Flow-225.58M-759.45M-750.95M776.78M353.69M-227.33M
Unlevered Free Cash Flow-136.27M-623.49M-623.87M872.19M401.58M-171.61M
Free Cash Flow After Leases252.59M194.20M578.34M228.09M645.10M392.28M
Cash Interest Paid117.16M202.49M200.22M153.22M84.22M93.11M
Cash Income Tax Paid24.63M22.09M19.43M3.60M2.30M253.00K
Change in Working Capital8.24M18.11M-17.92M-220.90M26.07M-26.58M

Ratios

Fiscal year January - December; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization3.36B2.49B2.07B2.73B2.45B1.74B
Enterprise Value2.95B3.95B3.64B4.73B3.26B2.96B
Last Close Price5.383.202.483.124.212.88
PE Ratio12.593.881.37
PS Ratio3.202.301.851.331.431.44
PB Ratio2.491.430.710.941.091.00
P/TBV Ratio2.491.430.710.941.091.00
P/FCF Ratio20.0016.445.0215.075.115.56
P/OCF Ratio5.002.301.562.792.833.10
EV/Sales Ratio2.853.663.252.301.902.45
EV/EBITDA Ratio6.577.746.233.693.181.61
EV/EBIT Ratio65.0488.4414.664.312.11
EV/FCF Ratio17.8326.108.8226.096.799.45
Debt / Equity Ratio0.070.050.550.640.310.63
Debt / EBITDA Ratio0.200.172.711.440.680.60
Debt / FCF Ratio0.570.573.8410.191.443.50
Net Debt / Equity Ratio-0.27-0.350.540.620.310.63
Net Debt / EBITDA Ratio-0.79-1.192.691.410.670.60
Net Debt / FCF Ratio-2.17-4.033.819.951.443.50
Asset Turnover0.310.270.210.430.470.37
Quick Ratio2.653.300.700.710.710.51
Current Ratio2.823.600.780.790.850.54
Return on Equity (ROE)-8.77%-8.44%-2.44%-6.81%32.65%115.69%
Return on Assets (ROA)0.85%0.69%2.94%-2.14%12.85%26.97%
Return on Invested Capital (ROIC)4.73%1.53%5.66%-4.22%25.96%56.73%
Return on Capital Employed (ROCE)2.60%2.00%5.00%-3.10%21.20%39.60%
Earnings Yield-14.25%-17.70%7.94%-6.46%25.79%73.14%
FCF Yield5.00%6.08%19.94%6.64%19.55%17.98%
Dividend Yield1.36%2.02%2.34%1.02%
Payout Ratio30.43%
Buyback Yield / Dilution4.16%4.77%-14.59%-25.02%1.36%-1.95%
Total Shareholder Return5.50%6.79%-12.25%-23.99%1.36%-1.95%