Baytex Energy Corp.

TSX:BTE Stock Report

Market Cap: CA$4.2b

Baytex Energy Valuation

Is BTE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of BTE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: BTE (CA$5.55) is trading above our estimate of future cash flow value (CA$2.67)

Significantly Below Future Cash Flow Value: BTE is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BTE?

Key metric: As BTE is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BTE. This is calculated by dividing BTE's market cap by their current revenue.
What is BTE's PS Ratio?
PS Ratio2.9x
SalesCA$1.48b
Market CapCA$4.23b

Price to Sales Ratio vs Peers

How does BTE's PS Ratio compare to its peers?

The above table shows the PS ratio for BTE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average6.5x
ATH Athabasca Oil
3.3x14.11%CA$4.3b
TVE Tamarack Valley Energy
3.8x10.12%CA$5.2b
TPZ Topaz Energy
14.6x10.39%CA$4.9b
IPCO International Petroleum
4.3x14.33%CA$3.9b
BTE Baytex Energy
2.9x-4.51%CA$4.2b

Price-To-Sales vs Peers: BTE is good value based on its Price-To-Sales Ratio (2.9x) compared to the peer average (6.5x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does BTE's PS Ratio compare vs other companies in the CA Oil and Gas Industry?

16 CompaniesPrice / SalesEstimated GrowthMarket Cap
PKI Parkland
0.3x3.99%US$4.98b
GEI Gibson Energy
0.5x-0.07%US$3.74b
TWM Tidewater Midstream and Infrastructure
0.1x11.51%US$120.69m
SGQ SouthGobi Resources
0.1xn/aUS$85.74m
BTE 2.9xIndustry Avg. 3.0xNo. of Companies24PS02.44.87.29.612+
16 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BTE is good value based on its Price-To-Sales Ratio (2.9x) compared to the Canadian Oil and Gas industry average (3x).

Price to Sales Ratio vs Fair Ratio

What is BTE's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BTE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.9x
Fair PS Ratio1.8x

Price-To-Sales vs Fair Ratio: BTE is expensive based on its Price-To-Sales Ratio (2.9x) compared to the estimated Fair Price-To-Sales Ratio (1.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BTE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$5.55
CA$5.34
-3.77%
10.03%CA$6.00CA$4.00n/a11
Mar ’27CA$5.24
CA$5.14
-1.98%
9.59%CA$6.00CA$4.00n/a11
Feb ’27CA$4.70
CA$5.09
+8.32%
9.43%CA$6.00CA$4.00n/a11
Jan ’27CA$4.44
CA$5.05
+13.84%
9.44%CA$6.00CA$4.00n/a11
Dec ’26CA$4.50
CA$5.03
+11.82%
9.64%CA$6.00CA$4.00n/a11
Nov ’26CA$3.39
CA$4.02
+18.66%
11.98%CA$5.00CA$3.00n/a11
Oct ’26CA$3.27
CA$3.95
+20.80%
14.65%CA$5.00CA$3.00n/a10
Sep ’26CA$3.05
CA$4.00
+31.15%
15.05%CA$5.00CA$3.00n/a10
Aug ’26CA$2.90
CA$4.00
+37.93%
15.05%CA$5.00CA$3.00n/a10
Jul ’26CA$2.44
CA$3.98
+62.91%
18.33%CA$5.00CA$2.50n/a10
Jun ’26CA$2.23
CA$3.98
+78.25%
18.33%CA$5.00CA$2.50n/a10
May ’26CA$2.26
CA$4.28
+89.16%
13.70%CA$5.50CA$3.50n/a10
Apr ’26CA$3.18
CA$5.05
+58.81%
10.34%CA$6.00CA$4.00n/a10
Mar ’26CA$3.28
CA$5.40
+64.63%
6.93%CA$6.00CA$5.00CA$5.2410
Feb ’26CA$3.49
CA$5.40
+54.73%
6.93%CA$6.00CA$5.00CA$4.7010
Jan ’26CA$3.70
CA$5.65
+52.83%
6.14%CA$6.00CA$5.00CA$4.4411
Dec ’25CA$3.98
CA$5.95
+49.61%
9.78%CA$7.50CA$5.50CA$4.5011
Nov ’25CA$4.09
CA$5.95
+45.59%
9.78%CA$7.50CA$5.50CA$3.3911
Oct ’25CA$4.22
CA$6.20
+46.92%
8.98%CA$7.50CA$5.50CA$3.2710
Sep ’25CA$4.80
CA$6.45
+34.38%
9.46%CA$8.00CA$6.00CA$3.0510
Aug ’25CA$4.87
CA$6.50
+33.47%
10.32%CA$8.00CA$6.00CA$2.9010
Jul ’25CA$4.74
CA$6.48
+36.60%
10.42%CA$8.00CA$6.00CA$2.4410
Jun ’25CA$5.01
CA$6.52
+30.19%
10.13%CA$8.00CA$6.00CA$2.2311
May ’25CA$4.84
CA$6.48
+33.78%
11.51%CA$8.00CA$5.50CA$2.2610
Apr ’25CA$5.05
CA$6.25
+23.76%
8.22%CA$7.25CA$5.50CA$3.189
Mar ’25CA$4.38
CA$6.48
+47.83%
10.28%CA$8.00CA$6.00CA$3.2810
CA$5.34
Fair Value
3.9% overvalued intrinsic discount
11
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/16 21:51
End of Day Share Price 2026/03/16 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Baytex Energy Corp. is covered by 23 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Patrick O'RourkeATB Cormark
Laique Ahmad Amir ArifATB Cormark
Jonathan FlemingATB Cormark Historical (Cormark Securities)