NYSE : VET
Vermilion Energy Inc. — Financial statements
Energy · Oil & Gas Exploration & Production · Canada
Last price 13.69 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.09B
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Financial statements
Vermilion Energy Inc. (VET) reported revenue of 1.84B CAD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.84B | 1.70B | 1.45B | 1.83B | 3.17B | 1.89B |
| Cost of Revenue | 677.62M | 641.40M | 532.42M | 602.24M | 567.93M | 490.17M |
| Gross Profit | 1.16B | 1.06B | 921.16M | 1.23B | 2.60B | 1.40B |
| Selling, General & Admin | 88.15M | 98.45M | 74.01M | 80.72M | 57.68M | 52.88M |
| Other Operating Expenses | 118.88M | -186.32M | 173.72M | -335.88M | -76.74M | 552.03M |
| Operating Expenses | 942.75M | 634.76M | 841.64M | 500.21M | 410.37M | -84.46M |
| Operating Income | 220.30M | 425.46M | 79.52M | 728.42M | 2.19B | 1.49B |
| Interest Expense | -114.89M | -132.75M | -84.61M | -85.21M | -82.86M | -73.08M |
| Earnings From Equity Investments | -1.95M | -1.95M | -1.57M | |||
| Currency Exchange Gain (Loss) | -51.20M | -39.88M | -51.73M | 7.91M | -69.27M | -71.58M |
| Other Non Operating Income (Expenses) | 24.25M | -3.55M | -11.53M | -420.00K | 11.15M | 21.42M |
| EBT Excluding Unusual Items | 76.51M | 247.34M | -69.92M | 650.69M | 2.05B | 1.36B |
| Gain (Loss) on Sale of Assets | -352.37M | |||||
| Asset Writedown | -572.16M | -572.16M | -1.02B | |||
| Other Unusual Items | 439.49M | 17.20M | ||||
| Pretax Income | -495.65M | -324.81M | -69.92M | -278.28M | 2.05B | 1.38B |
| Income Tax Expense | -45.59M | 39.99M | 26.25M | -40.70M | 738.04M | 233.20M |
| Earnings From Continuing Operations | -450.06M | -364.81M | -96.17M | -237.59M | 1.31B | 1.15B |
| Earnings From Discontinued Operations | 3.66M | -288.80M | 49.43M | |||
| Net Income | -446.40M | -653.60M | -46.74M | -237.59M | 1.31B | 1.15B |
| Net Income to Common | -446.40M | -653.60M | -46.74M | -237.59M | 1.31B | 1.15B |
| Shares Outstanding (Basic) | 153.19M | 153.86M | 158.07M | 163.72M | 163.49M | 161.17M |
| Shares Outstanding (Diluted) | 153.19M | 153.86M | 158.07M | 163.72M | 168.43M | 164.76M |
| EPS (Basic) | -2.91 | -4.25 | -0.30 | -1.45 | 8.03 | 7.13 |
| EPS (Diluted) | -2.91 | -4.25 | -0.30 | -1.45 | 7.80 | 6.97 |
| Free Cash Flow | 339.49M | 308.74M | 344.77M | 434.34M | 1.26B | 459.66M |
| Free Cash Flow Per Share | 2.22 | 2.01 | 2.18 | 2.65 | 7.50 | 2.79 |
| Dividend Per Share | 0.53 | 0.52 | 0.48 | 0.40 | 0.28 | |
| Gross Margin | 63.19% | 62.31% | 63.37% | 67.11% | 82.09% | 74.11% |
| Operating Margin | 11.97% | 25.00% | 5.47% | 39.79% | 69.14% | 78.57% |
| Profit Margin | -24.25% | -38.41% | -3.21% | -12.98% | 41.42% | 60.66% |
| Free Cash Flow Margin | 18.44% | 18.14% | 23.72% | 23.72% | 39.82% | 24.27% |
| EBITDA | 1.01B | 1.19B | 709.68M | 1.52B | 2.64B | 2.12B |
| EBITDA Margin | 54.87% | 70.20% | 48.82% | 82.98% | 83.12% | 111.69% |
| D&A For EBITDA | 789.71M | 769.09M | 630.16M | 790.81M | 443.21M | 627.13M |
| EBIT | 220.30M | 425.46M | 79.52M | 728.42M | 2.19B | 1.49B |
| EBIT Margin | 11.97% | 25.00% | 5.47% | 39.79% | 69.14% | 78.57% |
| Effective Tax Rate | 35.98% | 16.88% | ||||
| Revenue as Reported | 1.87B | 1.77B | 1.55B | 2.01B | 3.42B | 2.04B |
Balance sheet
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 81.77M | 19.09M | 131.73M | 141.46M | 13.84M | 6.03M |
| Cash & Short-Term Investments | 81.77M | 19.09M | 131.73M | 141.46M | 13.84M | 6.03M |
| Accounts Receivable | 284.87M | 261.53M | 298.49M | 242.93M | 373.65M | 328.58M |
| Other Receivables | 6.68M | 11.95M | ||||
| Receivables | 291.55M | 273.49M | 298.49M | 242.93M | 373.65M | 328.58M |
| Inventory | 56.61M | 46.62M | 40.69M | 57.33M | 19.66M | 20.07M |
| Prepaid Expenses | 65.35M | 49.40M | 71.10M | 68.01M | 144.46M | 98.84M |
| Other Current Assets | 76.81M | 78.69M | 40.31M | 313.79M | 162.84M | 19.32M |
| Total Current Assets | 572.10M | 467.29M | 582.33M | 823.51M | 714.45M | 472.85M |
| Property, Plant & Equipment | 4.81B | 4.79B | 5.24B | 5.08B | 5.96B | 5.06B |
| Long-Term Investments | 43.34M | 43.88M | 78.86M | 73.26M | 56.37M | |
| Long-Term Deferred Tax Assets | 43.99M | 19.00M | 197.71M | 182.05M | 125.53M | 374.99M |
| Other Long-Term Assets | 20.76M | 25.27M | 13.93M | 76.11M | 132.60M | |
| Total Assets | 5.49B | 5.34B | 6.12B | 6.24B | 6.99B | 5.91B |
| Accounts Payable | 404.22M | 461.56M | 413.20M | 359.30M | 461.96M | 425.63M |
| Current Portion of Leases | 7.57M | 9.21M | 12.21M | 21.07M | 19.49M | 15.03M |
| Current Income Taxes Payable | 29.95M | 23.12M | 113.72M | 298.75M | 341.70M | 37.18M |
| Other Current Liabilities | 130.82M | 60.66M | 125.05M | 16.96M | 68.90M | 268.97M |
| Total Current Liabilities | 572.57M | 554.55M | 664.18M | 696.07M | 892.04M | 746.81M |
| Long-Term Debt | 1.31B | 1.24B | 963.46M | 914.01M | 1.08B | 1.65B |
| Long-Term Leases | 46.82M | 49.34M | 54.99M | 33.00M | 51.51M | 60.19M |
| Long-Term Deferred Tax Liabilities | 299.75M | 316.97M | 364.80M | 380.97M | 477.34M | 328.84M |
| Other Long-Term Liabilities | 1.10B | 958.10M | 1.26B | 1.18B | 1.09B | 1.05B |
| Total Liabilities | 3.33B | 3.12B | 3.30B | 3.20B | 3.59B | 3.84B |
| Common Stock | 3.87B | 3.87B | 3.92B | 4.14B | 4.24B | 4.24B |
| Additional Paid-In Capital | 36.92M | 46.47M | 45.23M | 43.35M | 35.41M | 49.53M |
| Retained Earnings | -2.03B | -1.98B | -1.29B | -1.26B | -1.00B | -2.25B |
| Comprehensive Income & Other | 287.30M | 283.76M | 135.85M | 109.30M | 123.50M | 28.47M |
| Shareholders' Equity | 2.16B | 2.22B | 2.81B | 3.03B | 3.40B | 2.07B |
| Total Liabilities & Equity | 5.49B | 5.34B | 6.12B | 6.24B | 6.99B | 5.91B |
| Total Debt | 1.36B | 1.30B | 1.03B | 968.08M | 1.15B | 1.73B |
| Net Cash (Debt) | -1.28B | -1.28B | -898.92M | -826.63M | -1.14B | -1.72B |
| Net Cash Per Share | -8.36 | -8.34 | -5.69 | -5.05 | -6.76 | -10.44 |
| Filing Date Shares Outstanding | 152.80M | 152.60M | 154.60M | 160.80M | 162.10M | 162.30M |
| Total Common Shares Outstanding | 152.95M | 152.95M | 154.34M | 162.27M | 163.23M | 162.26M |
| Working Capital | -470.00K | -87.26M | -81.85M | 127.44M | -177.60M | -273.97M |
| Book Value Per Share | 14.14 | 14.53 | 18.21 | 18.68 | 20.84 | 12.73 |
| Tangible Book Value | 2.16B | 2.22B | 2.81B | 3.03B | 3.40B | 2.07B |
| Tangible Book Value Per Share | 14.14 | 14.53 | 18.21 | 18.68 | 20.84 | 12.73 |
Cash flow statement
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -446.40M | -653.60M | -46.74M | -237.59M | 1.31B | 1.15B |
| Depreciation & Amortization | 789.71M | 769.09M | 630.16M | 790.81M | 443.21M | -687.38M |
| Loss (Gain) From Sale of Assets | 352.37M | |||||
| Asset Writedown & Restructuring Costs | 572.16M | 572.16M | 1.02B | |||
| Stock-Based Compensation | 11.04M | 18.85M | 15.57M | 42.76M | 44.39M | 41.56M |
| Other Operating Activities | -44.16M | -181.28M | 423.84M | -878.79M | -203.31M | 388.45M |
| Change in Other Net Operating Assets | 34.07M | -4.10M | -182.70M | -61.12M | 216.87M | -56.88M |
| Operating Cash Flow | 920.96M | 943.66M | 967.75M | 1.02B | 1.81B | 834.45M |
| Capital Expenditures | -581.47M | -634.92M | -622.98M | -590.19M | -551.82M | -374.80M |
| Sale of Property, Plant & Equipment | 483.52M | 483.52M | 197.01M | |||
| Cash Acquisitions | -9.09M | -1.09B | -12.73M | -142.28M | -510.31M | -131.63M |
| Investment in Securities | 41.78M | 41.78M | -9.37M | -21.60M | -23.28M | |
| Other Investing Activities | -21.05M | -40.36M | 10.21M | -19.37M | 26.12M | 36.72M |
| Investing Cash Flow | -86.30M | -1.24B | -634.87M | -576.43M | -1.06B | -469.70M |
| Short-Term Debt Issued | 445.39M | |||||
| Long-Term Debt Issued | 788.87M | 499.04M | ||||
| Total Debt Issued | -325.84M | 1.23B | 499.04M | |||
| Short-Term Debt Repaid | -445.39M | |||||
| Long-Term Debt Repaid | -471.53M | -133.10M | -163.42M | -1.14B | -363.45M | |
| Lease Payments | -11.27M | -13.43M | -101.54M | -17.09M | -21.17M | -22.19M |
| Total Debt Repaid | -372.74M | -916.92M | -133.10M | -163.42M | -1.14B | -363.45M |
| Net Debt Issued (Repaid) | -698.58M | 317.34M | -133.10M | -163.42M | -644.00M | -363.45M |
| Repurchase of Common Stock | -23.00M | -35.75M | -140.71M | -94.84M | -71.66M | |
| Common Dividends Paid | -101.12M | -98.43M | -73.03M | -62.08M | -32.71M | |
| Other Financing Activities | 239.00K | -2.27M | 2.76M | |||
| Financing Cash Flow | -822.46M | 180.90M | -344.08M | -320.34M | -748.37M | -363.45M |
| Foreign Exchange Rate Adjustments | 385.00K | 1.53M | 1.48M | -137.00K | 1.25M | -2.18M |
| Net Cash Flow | 12.58M | -112.64M | -9.73M | 127.62M | 7.81M | -876.00K |
| Free Cash Flow | 339.49M | 308.74M | 344.77M | 434.34M | 1.26B | 459.66M |
| Free Cash Flow Margin | 18.44% | 18.14% | 23.72% | 23.72% | 39.82% | 24.27% |
| Free Cash Flow Per Share | 2.22 | 2.01 | 2.18 | 2.65 | 7.50 | 2.79 |
| Levered Free Cash Flow | 871.87M | 238.05M | 242.36M | 466.37M | 1.16B | -27.52M |
| Unlevered Free Cash Flow | 943.67M | 321.01M | 295.24M | 519.63M | 1.21B | 18.15M |
| Free Cash Flow After Leases | 328.22M | 295.31M | 243.23M | 417.24M | 1.24B | 437.47M |
| Cash Interest Paid | 110.65M | 131.23M | 85.65M | 84.47M | 75.04M | 71.37M |
| Cash Income Tax Paid | 11.81M | 125.63M | 263.05M | 306.91M | 144.81M | 13.21M |
| Change in Working Capital | 34.07M | -4.10M | -182.70M | -61.12M | 216.87M | -56.88M |
Ratios
Fiscal year January - December; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.09B | 1.28B | 1.46B | 1.97B | 2.89B | 2.04B |
| Enterprise Value | 3.01B | 2.21B | 2.06B | 2.73B | 3.97B | 3.48B |
| Last Close Price | 13.69 | 8.14 | 8.76 | 10.86 | 15.58 | 10.96 |
| PE Ratio | 2.98 | 2.25 | ||||
| PS Ratio | 1.62 | 1.03 | 1.45 | 1.42 | 1.23 | 1.36 |
| PB Ratio | 1.38 | 0.79 | 0.75 | 0.86 | 1.15 | 1.25 |
| P/TBV Ratio | 1.38 | 0.79 | 0.75 | 0.86 | 1.15 | 1.25 |
| P/FCF Ratio | 8.62 | 5.67 | 6.09 | 6.00 | 3.10 | 5.61 |
| P/OCF Ratio | 3.18 | 1.85 | 2.17 | 2.54 | 2.16 | 3.09 |
| EV/Sales Ratio | 2.32 | 1.78 | 2.04 | 1.97 | 1.69 | 2.33 |
| EV/EBITDA Ratio | 4.24 | 2.54 | 4.17 | 2.38 | 2.04 | 2.08 |
| EV/EBIT Ratio | 19.42 | 7.12 | 37.19 | 4.95 | 2.45 | 2.96 |
| EV/FCF Ratio | 12.40 | 9.81 | 8.58 | 8.31 | 4.25 | 9.59 |
| Debt / Equity Ratio | 0.63 | 0.59 | 0.37 | 0.32 | 0.34 | 0.84 |
| Debt / EBITDA Ratio | 1.35 | 1.09 | 1.45 | 0.64 | 0.44 | 0.82 |
| Debt / FCF Ratio | 4.01 | 4.22 | 2.99 | 2.23 | 0.91 | 3.76 |
| Net Debt / Equity Ratio | 0.59 | 0.58 | 0.32 | 0.27 | 0.34 | 0.83 |
| Net Debt / EBITDA Ratio | 1.27 | 1.07 | 1.27 | 0.54 | 0.43 | 0.81 |
| Net Debt / FCF Ratio | 3.77 | 4.16 | 2.61 | 1.90 | 0.90 | 3.74 |
| Asset Turnover | 0.30 | 0.30 | 0.23 | 0.28 | 0.49 | 0.38 |
| Inventory Turnover | 11.34 | 14.69 | 10.86 | 15.64 | 28.59 | 29.29 |
| Quick Ratio | 0.65 | 0.53 | 0.65 | 0.55 | 0.43 | 0.45 |
| Current Ratio | 1.00 | 0.84 | 0.88 | 1.18 | 0.80 | 0.63 |
| Return on Equity (ROE) | -18.54% | -14.50% | -3.29% | -7.39% | 48.03% | 76.80% |
| Return on Assets (ROA) | 2.26% | 4.64% | 0.80% | 6.88% | 21.25% | 18.57% |
| Return on Invested Capital (ROIC) | 6.50% | 11.79% | 2.10% | 17.35% | 33.71% | 36.71% |
| Return on Capital Employed (ROCE) | 4.50% | 8.90% | 1.50% | 13.10% | 35.90% | 28.80% |
| Earnings Yield | -15.23% | -37.33% | -2.23% | -9.12% | 33.57% | 44.51% |
| FCF Yield | 11.59% | 17.64% | 16.42% | 16.67% | 32.27% | 17.81% |
| Dividend Yield | 2.83% | 4.54% | 3.53% | 2.49% | 1.17% | |
| Payout Ratio | 2.49% | |||||
| Buyback Yield / Dilution | 1.17% | 2.66% | 3.45% | 2.79% | -2.22% | -4.34% |
| Total Shareholder Return | 4.00% | 7.20% | 6.98% | 5.29% | -1.05% | -4.34% |