Frontierby eninvs

Language: EN / RU

← Region

Peyto Exploration USD

At a glance: strengths & risks
✓Revenue growing (+22% y/y, Q2 2026)✓Profit growing (+20% y/y, Q2 2026)

Sector: Natural gas

COMM_PEY

Price chart

22.86 CADDay -0.09%

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
22.86 CAD · -0.09%
Market cap
3.3 bn USD

Growth

Δ revenue y/y
21.7%
Δ EBITDA y/y
23.4%

Multiples

P/E (LTM)
9.3x
3y avg: 10.4x
P/B (FY)
1.6x
P/E (ann.)
10.8x
EV/EBITDA (LTM)
6.3x
3y avg: 7.4x
EV/EBITDA (ann.)
6.6x

Cash return

Dividend yield
6.0%
FCF yield (LTM)
0.8%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+48.4%
↓ details

Liquidity

Daily turnover (listing)
20.6 mln CAD

Shares: connector/market_inputs

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)OK228.6
y/y 21.7%
78.6
y/y 46.2%
73.2
y/y 5.6%
151.8
y/y 23.4%
76.4
y/y 20.3%
160.7-93.33890.2
y/y -1.8%
2138.7
y/y 7.1%
14.3%698.8Yahoo Finance
2026-03-31Q1 2026 (3M)OK301.0
y/y —
154.3
y/y —
74.3
y/y —
228.6
y/y —
124.4
y/y —
198.7-95.93959.8
y/y —
2142.1
y/y —
23.5%737.0Yahoo Finance
2025-12-31Q4 2025 (3M)OK220.9
y/y —
77.4
y/y —
71.6
y/y —
149.0
y/y —
90.5
y/y —
171.5-97.53987.3
y/y 4.2%
2082.8
y/y 11.1%
14.7%820.3Yahoo Finance
2025-09-30Q3 2025 (3M)OK162.9
y/y —
34.1
y/y —
69.2
y/y —
103.3
y/y —
65.8
y/y —
163.3-76.03900.6
y/y —
1987.9
y/y —
4.4%848.3Yahoo Finance
2025-06-30Q2 2025 (3M)OK187.8
y/y —
53.8
y/y —
69.3
y/y —
123.1
y/y —
63.5
y/y —
126.1-78.63961.7
y/y —
1997.8
y/y —
13.1%915.0Yahoo Finance
2024-12-31FY 2024 (12M)OK661.1
y/y -11.7%
103.1
y/y -63.9%
274.9
y/y 17.4%
378.0
y/y -27.3%
204.2
y/y -5.8%
489.7-314.63826.7
y/y -8.0%
1874.0
y/y -8.5%
10.4%931.0Yahoo Finance
2023-12-31FY 2023 (12M)OK748.5
y/y —
285.9
y/y —
234.3
y/y —
520.2
y/y —
216.9
y/y —
477.9-849.94157.9
y/y —
2048.9
y/y —
—1027.5Yahoo Finance

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

Long-term debt (incl. LT leases)743
− Cash & equivalents44
Net debt699

Net debt / LTM EBITDA: 1.1x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02004006008002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-40%-20%0%20%2023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-400-20002002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

02505007501 0002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2022–2025 operating cash flow came to 2.14x of reported net profit.
year2022202320242025
cash flow / profit2.08x2.20x2.40x2.05x
accruals, % of assets-10.9%-6.3%-7.5%-7.9%
Last twelve months (to 2026-06-30): 1.94x of profit came back as operating cash flow.
net debt / EBITDA 1.6x
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 →

Operating statistics

Production indicators — supplementary, not part of the financial statements

PeriodProduction
boe/d		Realized price
CAD $/Mcfe		Operating netback
CAD $/Mcfe		Operating cost
CAD $/Mcfe		Operating netback
CAD $/boe
Q2 2026-06145 320
+10.3%		4.38
+2.6%		3.38
+0.6%		0.50
−7.4%		—
H1 2026-06146 410
+10.2%		4.89
+6.5%		3.94
+8.8%		0.51
−5.6%		—
Q4 2025-12140 794
+5.5%		4.62
+7.9%		3.74
+11.6%		0.49
−2.0%		—
FY 2025-12134 055
+7.1%		4.53
+6.3%		3.61
+10.7%		0.52
−1.9%		21.66
Q3 2025-09129 762
+8.1%		3.07
−21.9%		2.18
−26.4%		0.81
+50.0%		—
Q2 2025-06131 7544.273.360.54—
H1 2025-06132 812
+8.5%		4.59
+8.0%		3.62
+12.4%		0.54
+0.0%		—
Q1 2025-03—4.203.130.82—
Q4 2024-12133 4264.283.350.50—
FY 2024-12125 2024.263.260.53—
Q3 2024-09120 0313.932.960.54—
H1 2024-06122 4414.253.220.54—

Company reports (PLR coverage review 2026-10-01), extracted with DeepSeek and every number checked against the document text: https://www.peyto.com/Files/AIF/2025/2025_AIF_FINAL.pdf; https://www.peyto.com/Files/Financials/2026/Q22026InterimReport.pdf; https://www.peyto.com/Files/News/2025/Q32025PressReleaseFinal.pdf; https://www.peyto.com/Files/News/2026/Q22026PressRelease_Final.pdf; https://www.peyto.com/Files/News/2026/Q42025PressReleaseFinal.pdf; https://www.peyto.com/Files/Operations/2025ReservesPressRelease.pdf

Production & Reserves

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

Proved reserves
1 450 mln boe (2P)
2025
Reserve life (R/P)
29.6 yrs
reserves ÷ annual output
Annual production
48.93 mln boe
2025

Production, mln boe

45.70202448.932025

Proved reserves

YearReserves, mln boe (2P)
20251 450
20241 367

Production

YearProduction, mln boeper day, mln boe
202548.93
+7.1%		0.13
202445.700.13

Company reports: https://www.peyto.com/Files/AIF/2025/2025_AIF_FINAL.pdf; https://www.peyto.com/Files/Financials/2026/Q22026InterimReport.pdf; https://www.peyto.com/Files/News/2025/Q32025PressReleaseFinal.pdf; https://www.peyto.com/Files/News/2026/Q22026PressRelease_Final.pdf; https://www.peyto.com/Files/News/2026/Q42025PressReleaseFinal.pdf; https://www.peyto.com/Files/Operations/2025ReservesPressRelease.pdf

Key-commodity price — Henry Hub Gas

Current 3spot vs LTM -13%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +48.4% ▼ -0.8 pp 1d

Main driver: Henry Hub Gas -13% vs LTM; revenue ×1.01 vs costs ×1.04; EBITDA 633→619; at 9.1× EV/EBITDA → +48%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Henry Hub Gas (rev)+70%2.953.383.12-13%-8%
Propane (NGL) (rev)+10%0.890.690.77+29%+11%
WTI Crude Oil (rev)+8%93.9371.9676.52+31%+6%

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

1 · Reported baseline (LTM)
LTM revenue913
LTM EBITDA633
LTM cash costs (revenue − EBITDA)281
2 · Revenue projection
Revenue multiplier — spot×1.007 (+1%)
= Spot revenue920
Revenue multiplier — 3y price×0.989 (-1%)
= 3-year-price revenue903
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs292
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs292
4 · EBITDA projection (revenue − costs)
= Spot EBITDA628
= 3-year-price EBITDA611
Conservative EBITDA = min(spot, avg)619
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)9.1x
Target EV = EV/EBITDA × conservative EBITDA5 644
Net debt699
Target market cap = EV − net debt5 029
Current market cap3 388

Upside = target market cap ÷ current − 1 = +48.4%

Life of mine: 30 yrs

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 FY749873-14.3%520263+98.1%
2024 FY661726-8.9%378489-22.6%
2025 FY789757+4.2%524463+13.3%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +19% vs -12% the year before — a +31.0 pp move. 3-year CAGR -14%.
revenue growth by year: 2023 -40% · 2024 -12% · 2025 +19%
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 6.8x · target 75th pct (3y) 9.1x · LTM avg 9.2x

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

Peer comparison

Group: Natural gas. Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
Equinorglobal108.22.9x
SandRidge Energyglobal0.53.3x
Expand Energyglobal20.13.5x
Gulfport Energyglobal2.83.7x
Birchcliff Energyglobal1.25.1x
Advantage Energyglobal1.27.1x
Kimbell Royalty Partnersglobal1.47.3x
Tourmaline Oilglobal16.78.0x
Black Stone Mineralsglobal3.010.5x
Group median5.1x
Group average5.7x
This companyglobal3.36.3x

Group median 5.1x; this company 6.3x — a 24% premium.

Group average 5.7x; against the average this company is at a 11% premium.

At the adjusted group median the market cap would be -24% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 22.4x, Russia 3.8x, South Africa 5.1x, Kazakhstan 6.6x, India 18.5x, Indonesia 4.8x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-01; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-290.12 CADEx-dividend: 0.12 CAD per sharePaidYahoo Finance (ex-div)
2026-08-310.12 CADEx-dividend: 0.12 CAD per sharePaidYahoo Finance (ex-div)
2026-07-310.12 CADEx-dividend: 0.12 CAD per sharePaidYahoo Finance (ex-div)
2026-06-300.12 CADEx-dividend: 0.12 CAD per sharePaidYahoo Finance (ex-div)
2026-05-290.12 CADEx-dividend: 0.12 CAD per sharePaidYahoo Finance (ex-div)
2026-04-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2026-03-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2026-02-270.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2026-01-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-12-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-11-280.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-10-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-09-290.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-08-290.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-07-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-06-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-05-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-04-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-03-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-02-280.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2025-01-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-12-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-11-290.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-10-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-09-270.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-08-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-07-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-06-280.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-05-310.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-04-290.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-03-270.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-02-280.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2024-01-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-12-280.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-11-290.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-10-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-09-280.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-08-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-07-280.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-06-290.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-05-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-04-270.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-03-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-02-270.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2023-01-300.11 CADEx-dividend: 0.11 CAD per sharePaidYahoo Finance (ex-div)
2022-12-290.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-11-290.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-10-280.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-09-280.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-08-300.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-07-280.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-06-290.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-05-300.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-04-280.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-03-300.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-02-250.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2022-01-280.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2021-12-300.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)
2021-11-290.05 CADEx-dividend: 0.05 CAD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily 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 Peyto Exploration — from primary filings.

Frequently asked questions

What is Peyto Exploration's P/E ratio?
Peyto Exploration trades at a P/E of 9.3x (price to trailing 12-month earnings).
What is Peyto Exploration's EV/EBITDA?
Peyto Exploration trades at 6.3x EV/EBITDA.
What is Peyto Exploration's P/B ratio?
Peyto Exploration trades at a P/B of 1.6x.
What is Peyto Exploration's dividend yield?
Peyto Exploration's trailing 12-month dividend yield is 6.0%.
What is Peyto Exploration's return on equity (ROE)?
Peyto Exploration's ROE is 14.3%.
What is Peyto Exploration's market capitalization?
Peyto Exploration's market cap is 3.3 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map