BTE

Baytex Energy

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Energy

industry

Oil & Gas E&P

Exchange

NYSE

County of HQ

Canada

Next Earnings Date

05/04/26

Business Summary

Baytex Energy is an upstream exploration and production company that generates cash by acquiring, developing, and producing crude oil and natural gas assets. Its revenue is directly tied to production volumes and realized commodity prices, making cash flow highly sensitive to market swings. The moat is asset-based rather than structural: quality reserves, drilling inventory, and operational efficiency determine returns. Scale in acreage and technical expertise can lower per-barrel costs, but there is little pricing power, so capital discipline and balance sheet management ultimately define long-term shareholder outcomes.

VALUATION

P/E

-

Market Cap ($M USD)

$3,042

Forward P/E

10.1

PEG

-

PRICE TO SALES

2.6

PRICE TO BOOK

1.8

EV / EBITDA

2.7

5-Year Average P/E

DIVIDEND

Yield

1.60%

Annual Payout

$0.06

Payout Ratio

-

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

-$0.26

Next Year EPS Growth Estimate

$0.41

Next Year Revenue Growth Estimate

6.40%

Return on Equity (ROE)

-25.30%

Operating Margin

13.40%

Debt-to-Equity

0.1

Piotroski F-Score

5

Altman Z-Score

2

Return on Invested Capital (ROIC)

-10.40%%

Current Ratio

3.6

Quick Ratio

Gainseekers Quantitative Analysis

Summary

Baytex Energy is trading like a cyclical value trap rather than a growth compounder. A Forward P/E of 10.1 would normally signal reasonable valuation in Energy, but it sits against an Altman Z-Score of 2 and a deeply negative Operating Margin of -25.30%, which pushes the company into financial gray-zone territory. The market cap of $3,042M is not demanding, yet ROIC of -10.40% and EPS Next Year (Est.) of -$0.26 imply deteriorating profitability. This is not a clean mispricing; it is a stressed balance sheet and weak forward earnings profile being given a modest multiple because investors doubt the durability of cash flows.

AI Exposure / Tech Reliance

As an Oil & Gas E&P operator, Baytex’s AI leverage is operational rather than transformational. Incremental gains would come from drilling optimization, reservoir modeling, and cost efficiencies, not platform-style scalability. Technology can improve margins at the margin, but it will not structurally alter commodity price exposure.

The Bull Case

A deep value investor could argue that much of the pain is already priced in. Price / Book of 1.8 is not stretched for Energy, and a Piotroski F-Score of 5 suggests middling but not collapsing fundamentals. Return on Equity of 6.40% shows the company can still generate positive equity returns despite a brutal -25.30% Operating Margin, and a Current Ratio of 3.6 indicates solid short-term liquidity. With a Forward P/E of 10.1 and Market Cap of $3,042M, any normalization in margins or commodity pricing could create sharp operating leverage to the upside.

The Bear Case

The bear case is straightforward: profitability is eroding fast. Operating Margin of -25.30% and ROIC of -10.40% signal value destruction, not value creation, and EPS Next Year (Est.) of -$0.26 implies earnings compression. Debt / Equity of 13.40% adds leverage risk in a cyclical industry, while an Altman Z-Score of 2 reinforces balance sheet fragility. Add in inconsistent forward growth signals and this becomes a classic late-cycle energy name that could see equity impaired if commodity prices weaken further.

Market Sentiment & Smart Money

Short Interest %

2.40%

Analyst Consensus

2.36

Average Analyst Price Target

$4.20

Institutional Ownership %

47.40%

1-Year Beta

0.37

Insider Buying % (6 Mo)

0.40%%

Distance to 52-Week High

90.40%%

Distance to 52-Week Low

286.10%%