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Gran Tierra Energy (GTE) USD

Gran Tierra Energy Inc. explores for and produces oil and gas, primarily in Colombia, with additional operations in Canada and Ecuador. The company has a strategic partnership with Ecopetrol S.A. to develop fields in the Middle Magdalena Valley.

At a glance: strengths & risks
✓Revenue growing (+23% y/y, Q2 2026)✓Margins improving (40%→45%, Q2 2026)✗Loss-making last FY✗High leverage (17.8x EBITDA)

Sector: Oil & gas

Geography: Colombia

COMM_GTE

Price chart

10.79 USDDay -2.00%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
10.79 USD · -2.00%
Market cap
381 mln USD

Growth

Δ revenue y/y
22.8%
Δ EBITDA y/y
99.6%

Multiples

P/E (LTM)
—
P/B (FY)
1.7x
P/E (ann.)
3.8x
EV/EBITDA (LTM)
—
EV/EBITDA (ann.)
1.8x

Cash return

Dividend yield
—
FCF yield (LTM)
64.2%

Value creation

negative target market cap — net debt exceeds target EV (over-levered)
Upside (potential)
-102.5%
↓ details

Liquidity

Daily turnover (listing)
8.9 mln USD

Shares: yahoo_fundamentals_timeseries/GTE

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK187.2
y/y 22.8%
58.5
y/y —
62.3
y/y -9.2%
120.9
y/y 99.6%
24.9
y/y —
57.4-61.01564.1
y/y -7.8%
132.2
y/y -66.1%
82.5%470.5Yahoo Finance
2026-03-31Q1 2026 (3M)OK172.1
y/y 2.3%
-145.8
y/y —
69.9
y/y -3.2%
-75.9
y/y -234.4%
-119.2
y/y —
172.7-41.51635.1
y/y -1.7%
108.9
y/y -72.3%
-282.3%471.0Link
2025-12-31Q4 2025 (3M)OK126.8
y/y -13.9%
-177.8
y/y -711.6%
62.1
y/y 11.1%
-115.7
y/y -440.7%
-141.1
y/y -312.6%
157.2-57.71586.1
y/y -4.2%
228.7
y/y -44.7%
-64.9%624.8Link
2025-09-30Q3 2025 (3M)OK149.3
y/y -1.4%
-31.2
y/y -242.6%
65.0
y/y 16.9%
33.8
y/y -56.4%
-19.9
y/y -1860.8%
48.1-64.21655.8
y/y 8.0%
366.0
y/y -13.0%
-7.0%712.7Link
2025-06-30Q2 2025 (3M)OK152.5
y/y -7.9%
-8.1
y/y -129.6%
68.6
y/y 23.7%
60.5
y/y -26.9%
-12.7
y/y -135.0%
34.7-86.51697.0
y/y 23.0%
389.8
y/y -7.4%
-13.0%711.6Link
2025-03-31Q1 2025 (3M)OK168.2
y/y 6.7%
-15.7
y/y -190.8%
72.2
y/y 28.6%
56.5
y/y -23.1%
-19.3
y/y —
73.2-67.51662.7
y/y 18.6%
393.8
y/y 0.5%
-19.1%649.7Link
2024-12-31Q4 2024 (3M)OK147.3
y/y -4.9%
-21.9
y/y -265.9%
55.9
y/y 20.8%
34.0
y/y -42.9%
-34.2
y/y -543.7%
26.6-188.71654.8
y/y 24.8%
413.6
y/y 4.3%
0.8%643.6Link
2024-09-30Q3 2024 (3M)OK151.4
y/y -15.9%
21.9
y/y -53.3%
55.6
y/y 1.0%
77.5
y/y -24.0%
1.1
y/y -82.6%
78.7-49.81533.4
y/y 10.6%
420.9
y/y 6.7%
0.4%465.5Link
2024-06-30Q2 2024 (3M)OK165.6
y/y 4.9%
27.3
y/y 19.2%
55.5
y/y -1.3%
82.8
y/y 4.6%
36.4
y/y —
73.2-75.21379.6
y/y 5.4%
420.9
y/y 8.6%
35.8%491.5Link
2024-03-31Q1 2024 (3M)OK157.6
y/y 9.3%
17.3
y/y -25.3%
56.1
y/y 7.6%
73.5
y/y -2.5%
-0.1
y/y —
60.8-38.81402.4
y/y 5.7%
392.0
y/y -1.4%
-0.1%481.2Link
2023-12-31Q4 2023 (3M)OK154.9
y/y —
13.2
y/y —
46.3
y/y —
59.5
y/y —
7.7
y/y —
70.5-21.01326.3
y/y —
396.4
y/y —
-1.6%493.0Link
2023-09-30Q3 2023 (3M)OK179.9
y/y —
46.9
y/y —
55.0
y/y —
101.9
y/y —
6.5
y/y —
70.4-63.21386.0
y/y —
394.5
y/y —
2.2%514.2Link
2023-06-30Q2 2023 (3M)OK157.9
y/y —
22.9
y/y —
56.2
y/y —
79.1
y/y —
-10.8
y/y —
37.9-71.31309.4
y/y —
387.4
y/y —
-11.0%517.3Link
2023-03-31Q1 2023 (3M)OK144.2
y/y —
23.2
y/y —
52.2
y/y —
75.4
y/y —
-9.7
y/y —
49.3-71.11326.4
y/y —
397.8
y/y —
—475.7Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)46
Long-term debt (incl. LT leases)552
− Cash & equivalents127
Net debt471

Net debt / LTM EBITDA: 3.5x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-10001002002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-300%-200%-100%0%100%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-200-10001002002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

02004006008002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Worth a look
In a typical year of 2021–2025 operating cash flow came to 4.42x of reported net profit; after capex, 1.58x. Loss years (2023, 2025) are left out of the ratio.
year20212022202320242025
cash flow / profit5.76x3.08x———
accruals, % of assets-17.0%-21.6%-17.7%-14.3%-31.9%
net debt / EBITDA 17.8x · EBIT covers interest -2.3x · capex 1.1x of depreciation · share count -0.9% a year
● Net debt / EBITDA 17.8x at the last full year.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas E and P

Proved reserves
112 mln boe
2025
Reserve life (R/P)
6.7 yrs
reserves ÷ annual output
Annual production
16.70 mln boe
2025

Production, mln boe

9.68202111.22202211.92202312.67202416.702025

Proved reserves

YearReserves, mln boe
2025112
2024135
202374
202266
202167
202065

Production

YearProduction, mln boeper day, mln boe
20267.92 * (6M)
−7.3%		0.04
202516.70
+31.8%		0.05
202412.67
+6.3%		0.03
202311.92
+6.2%		0.03
202211.22
+16.0%		0.03
20219.680.03
20201.72 * (3M)0.02

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Brent

Current 105spot vs LTM +37%

Commodity-player potential

Target equity value is NEGATIVE: net debt exceeds target EV — over-levered at conservative EBITDA, so the upside is negative.

Upside: -102.5%

Main driver: Brent +37% vs LTM; revenue ×1.37 vs costs ×1.05; EBITDA 100→200; at 2.7× EV/EBITDA → -102%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Brent (rev)+100%104.6076.5180.62+37%+5%
WTI Crude Oil (cost)-3%100.3471.9676.41+39%+6%
Henry Hub Gas (cost)-1%2.833.383.12-16%-8%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue641
LTM EBITDA100
LTM cash costs (revenue − EBITDA)541
2 · Revenue projection
Revenue multiplier — spot×1.367 (+37%)
= Spot revenue876
Revenue multiplier — 3y price×1.054 (+5%)
= 3-year-price revenue676
3 · Costs projection
Cost multiplier — spot×1.049 (+5%)
= Spot cash costs567
Cost multiplier — 3y price×1.039 (+4%)
= 3-year-price cash costs562
4 · EBITDA projection (revenue − costs)
= Spot EBITDA309
= 3-year-price EBITDA113
Conservative EBITDA = min(spot, avg)200
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)2.7x
Target EV = EV/EBITDA × conservative EBITDA536
Net debt545
Target market cap = EV − net debt-9
Current market cap382

Upside = target market cap ÷ current − 1 = -102.5%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q3180156+15.3%10283+22.6%
2023 Q4155160-3.1%9083+9.1%
2024 Q1158158-0.4%7384-12.5%
2024 Q2166168-1.6%8390-8.1%
2024 Q3151154-1.9%7775+3.0%
2024 Q4147142+3.8%6664+4.4%
2025 Q1168146+15.1%5663-10.9%
2025 Q2152135+12.7%6146+31.7%
2025 Q3149143+4.3%3452-34.6%
2025 Q4133137-3.5%5735+62.5%
2026 Q1172172+0.0%-7671-207.3%
2026 Q2187213-12.0%8575+12.8%

Revenue growth & acceleration

Growth steady →
Last-year revenue growth -4% vs -2% the year before — a -1.7 pp move. 3-year CAGR -6%.
revenue growth by year: 2023 -10% · 2024 -2% · 2025 -4%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 2.9x · target 75th pct (3y) 2.7x · LTM avg 3.9x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Gran Tierra Energy (GTE) — from primary filings.

Frequently asked questions

What is Gran Tierra Energy (GTE)'s P/B ratio?
Gran Tierra Energy (GTE) trades at a P/B of 1.7x.
What is Gran Tierra Energy (GTE)'s return on equity (ROE)?
Gran Tierra Energy (GTE)'s ROE is 82.5%.
What is Gran Tierra Energy (GTE)'s market capitalization?
Gran Tierra Energy (GTE)'s market cap is 381 mln USD.

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