
Sector: Oil & gas
COMM_JOY
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.
Shares: connector/market_inputs
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.
| Date | Period | Status | RevenueM USD | Operating profitM USD | D&AM USD | EBITDAM USD | Net profitM USD | Operating CFM USD | Capex + M&AM USD | AssetsM USD | EquityM USD | ROE (annualized) | Net debtM USD | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | Q2 2026 (3M) | OK | 46.5 y/y 37.5% | 10.5 y/y 230.4% | 7.1 y/y -9.1% | 17.6 y/y 60.0% | 13.3 y/y 352.9% | 14.0 | -7.7 | 414.9 y/y -3.9% | 259.4 y/y 4.4% | 20.9% | 30.5 | Yahoo Finance |
| 2026-03-31 | Q1 2026 (3M) | OK | 35.9 y/y — | -4.2 y/y — | 7.1 y/y — | 2.9 y/y — | -4.3 y/y — | 10.4 | -11.8 | 422.1 y/y — | 251.4 y/y — | -6.7% | 37.0 | Yahoo Finance |
| 2025-12-31 | Q4 2025 (3M) | OK | 34.1 y/y — | 2.5 y/y — | 7.7 y/y — | 10.3 y/y — | 7.0 y/y — | 9.2 | -6.6 | 420.8 y/y 3.4% | 259.1 y/y 14.2% | 7.3% | 35.8 | Yahoo Finance |
| 2025-09-30 | Q3 2025 (3M) | OK | 38.7 y/y — | 4.7 y/y — | 8.9 y/y — | 13.6 y/y — | 3.2 y/y — | 9.3 | -8.6 | 416.2 y/y — | 247.9 y/y — | 1.7% | 28.0 | Yahoo Finance |
| 2025-06-30 | Q2 2025 (3M) | OK | 33.8 y/y — | 3.2 y/y — | 7.8 y/y — | 11.0 y/y — | 2.9 y/y — | 8.0 | -15.7 | 431.6 y/y — | 248.4 y/y — | 4.9% | 26.0 | Yahoo Finance |
| 2024-12-31 | FY 2024 (12M) | OK | 148.5 y/y -14.3% | 7.1 y/y -65.6% | 28.5 y/y 0.1% | 35.6 y/y -27.4% | 3.7 y/y -68.1% | 25.9 | -28.2 | 406.9 y/y -11.6% | 226.9 y/y -5.0% | 1.6% | 31.4 | Yahoo Finance |
| 2023-12-31 | FY 2023 (12M) | OK | 173.3 y/y — | 20.6 y/y — | 28.5 y/y — | 49.1 y/y — | 11.7 y/y — | 49.4 | -31.2 | 460.4 y/y — | 238.8 y/y — | — | 32.4 | Yahoo Finance |
| Short-term debt (incl. ST leases) | 5 |
| Long-term debt (incl. LT leases) | 25 |
| − Cash & equivalents | 0 |
| Net debt | 31 |
|---|
Net debt / LTM EBITDA: 0.7x
Quarterly values ($ mln)
Year-over-year change
FCF ($ mln)
Net debt / cash ($ mln)
Physical operating metrics — supplementary, not part of the financial statements
| Year | Reserves, mln boe (2P) |
|---|---|
| 2025 | 86.30 |
| Year | Production, mln boe | per day, mln boe |
|---|---|---|
| 2025 | 4.11 | 0.01 |
Company reports: https://www.journeyenergy.ca/prelease/285193-2/; https://www.journeyenergy.ca/prelease/308505/; https://www.journeyenergy.ca/wp-content/uploads/Reports/Financial_Reports/JEI_MDA_Q2_2026.pdf; https://www.journeyenergy.ca/wp-content/uploads/Reports/Financial_Reports/Journey_Annual_Information_2025.pdf; https://www.journeyenergy.ca/wp-content/uploads/Reports/Presentations/JEI_MDA_Q4_2025.pdf
Current 94spot vs LTM +30%
Target market cap from conservative EBITDA and the historical EV/EBITDA
Upside: +33.7% ▼ -1.4 pp 1d
Main driver: WTI Crude Oil +31% vs LTM; revenue ×1.19 vs costs ×1.04; EBITDA 65→79; at 4.5× EV/EBITDA → +34%.
Product prices — moves vs the LTM average
| Commodity | Share | Spot | LTM | 3-yr | vs LTM, $ | 3y vs LTM |
|---|---|---|---|---|---|---|
| WTI Crude Oil (rev) | +60% | 93.93 | 71.96 | 76.52 | +31% | +6% |
| Henry Hub Gas (rev) | +25% | 3.01 | 3.38 | 3.12 | -11% | -8% |
| Propane (NGL) (rev) | +8% | 0.89 | 0.69 | 0.77 | +29% | +11% |
How it is calculated — revenue → costs → EBITDA → target market cap
| 1 · Reported baseline (LTM) | |
| LTM revenue | 155 |
| LTM EBITDA | 65 |
| LTM cash costs (revenue − EBITDA) | 91 |
| 2 · Revenue projection | |
| Revenue multiplier — spot | ×1.192 (+19%) |
| = Spot revenue | 185 |
| Revenue multiplier — 3y price | ×1.037 (+4%) |
| = 3-year-price revenue | 161 |
| 3 · Costs projection | |
| Cost multiplier — spot | ×1.040 (+4%) |
| = Spot cash costs | 94 |
| Cost multiplier — 3y price | ×1.040 (+4%) |
| = 3-year-price cash costs | 94 |
| 4 · EBITDA projection (revenue − costs) | |
| = Spot EBITDA | 91 |
| = 3-year-price EBITDA | 67 |
| Conservative EBITDA = min(spot, avg) | 79 |
| 5 · Valuation → target market cap | |
| Historical EV/EBITDA (75th pct, realized earnings) | 4.5x |
| Target EV = EV/EBITDA × conservative EBITDA | 358 |
| Net debt | 31 |
| Target market cap = EV − net debt | 327 |
| Current market cap | 245 |
Upside = target market cap ÷ current − 1 = +33.7%
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.
| Period | Act. rev | Model rev | Δ rev | Act. EBITDA | Model EBITDA | Δ EBITDA |
|---|---|---|---|---|---|---|
| 2023 FY | 173 | 147 | +18.2% | 50 | 28 | +78.1% |
| 2024 FY | 149 | 170 | -12.4% | 39 | 42 | -5.1% |
| 2025 FY | 144 | 144 | -0.1% | 57 | 31 | +87.5% |
Projected EV/EBITDA 5.2x · target 75th pct (3y) 5.2x · LTM avg 4.5x
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 Journey Energy (JOY) — from primary filings.
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