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Suncor Energy USD

At a glance: strengths & risks
✓Revenue growing (+51% y/y, Q3 2026)✓Profit growing (×2.3 y/y, Q3 2026)✓Margins improving (31%→39%, Q3 2026)✓Low leverage (0.4x EBITDA)

Sector: Oil sands & refining

Geography: Canada (Alberta oil sands), UK North Sea, US

COMM_SU

Price chart

69.92 USDDay 0.91%

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
69.92 USD · 0.91%
Market cap
85.3 bn USD

Growth

Δ revenue y/y
50.6%
Δ EBITDA y/y
93.3%

Multiples

P/E (LTM)
10.7x
P/B (FY)
2.6x
P/E (ann.)
7.9x
EV/EBITDA (LTM)
5.1x
EV/EBITDA (ann.)
3.7x

Cash return

Dividend yield
1.9%
FCF yield (LTM)
10.6%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+31.9%
↓ details

Liquidity

Daily turnover (listing)
147.4 mln USD

Shares: yahoo_fundamentals_timeseries/SU

Financial results

Monetary columns are in B 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.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-09-30Q3 2026 (3M)PARTIAL14.8
y/y 50.6%
3.8
y/y 114.3%
0.8
y/y 64.0%
5.8
y/y 93.3%
2.7
y/y 131.1%
4.4-0.168.8
y/y 7.0%
35.0
y/y 8.0%
31.5%1.2Link
2026-06-30Q2 2026 (3M)OK13.7
y/y 48.3%
3.8
y/y 277.9%
1.2
y/y -0.2%
5.0
y/y 124.1%
2.7
y/y 227.3%
4.1-1.066.6
y/y 2.7%
33.8
y/y 3.8%
32.2%3.1Yahoo Finance
2026-03-31Q1 2026 (3M)OK11.2
y/y —
2.1
y/y —
1.3
y/y —
3.4
y/y —
1.5
y/y —
1.8-0.866.6
y/y —
32.8
y/y —
18.7%4.9Yahoo Finance
2025-12-31Q4 2025 (3M)OK9.1
y/y —
1.3
y/y —
1.3
y/y —
2.6
y/y —
1.1
y/y —
2.8-1.164.3
y/y -1.8%
32.3
y/y -0.6%
13.1%4.7Yahoo Finance
2025-09-30Q3 2025 (3M)OK9.8
y/y —
1.8
y/y —
1.3
y/y —
3.0
y/y —
1.2
y/y —
2.7-1.164.3
y/y —
32.4
y/y —
14.4%5.1Yahoo Finance
2025-06-30Q2 2025 (3M)OK9.2
y/y —
1.0
y/y —
1.2
y/y —
2.2
y/y —
0.8
y/y —
2.1-1.264.8
y/y —
32.6
y/y —
10.1%5.6Yahoo Finance
2024-12-31FY 2024 (12M)OK40.1
y/y 3.6%
—
y/y —
5.1
y/y 6.5%
11.1
y/y -12.4%
4.4
y/y -28.5%
——65.6
y/y -0.1%
32.5
y/y 1.3%
13.6%—Yahoo Finance
2023-12-31FY 2023 (12M)OK38.7
y/y —
—
y/y —
4.8
y/y —
12.6
y/y —
6.1
y/y —
——65.6
y/y —
32.1
y/y —
——Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-09-30

Short-term debt (incl. ST leases)396
Long-term debt (incl. LT leases)6 480
− Cash & equivalents5 641
Net debt1 235

Net debt / LTM EBITDA: 0.1x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

010 00020 00030 00040 00050 0002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q22026 q3

Year-over-year change

-50%0%50%100%150%2023 FY2024 FY2025 q22025 q32025 q42026 q12026 q22026 q3

Cash flow

Cash flow (OCF + ICF; OCF − capex when ICF is unavailable) ($ mln)

01 0002 0003 0004 0002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q22026 q3

Net debt / cash ($ mln)

02 0004 0006 0002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q22026 q3

Profit and cash

Profit is broadly cash-backed
Last twelve months (to 2026-09-30): 1.64x of profit came back as operating cash flow.
net debt / EBITDA 0.4x
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
Q3 2026-09788 500
−9.4%
Q2 2026-06760 900
−5.8%
H1 2026-06759 200
−3.2%
Q1 2026-03875 200
+10.7%
Q4 2025-12909 000
+3.9%
FY 2025-12860 000
Q3 2025-09870 000
Q2 2025-06808 100
H1 2025-06783 900
Q1 2025-03790 900
Q4 2024-12875 000

Company reports (PLR coverage review 2026-10-01), extracted with DeepSeek and every number checked against the document text: https://www.sec.gov/Archives/edgar/data/311337/000110465926009841/su-20251231xex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926020411/su-20251231xex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926090542/su-20260804xex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926090544/su-20260804xex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926122233/su-ex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926122236/su-ex99d1.htm

Production & Reserves

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

Proved reserves
7 440 mln boe (2P)
2025
Reserve life (R/P)
23.7 yrs
reserves ÷ annual output
Annual production
313.90 mln boe
2025

Proved reserves

YearReserves, mln boe (2P)
20257 440
20246 265

Production

YearProduction, mln boeper day, mln boe
2025313.900.86

Company reports: https://www.sec.gov/Archives/edgar/data/311337/000110465926009841/su-20251231xex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926020411/su-20251231xex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926090542/su-20260804xex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926090544/su-20260804xex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926122233/su-ex99d1.htm; https://www.sec.gov/Archives/edgar/data/311337/000110465926122236/su-ex99d1.htm

Key-commodity price — WTI Crude Oil

Current 89spot vs LTM +4%

Commodity-player potential

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

Upside: +31.9% ▲ +0.0 pp 1d

Main driver: WTI Crude Oil +15% vs LTM; revenue ×1.04 vs costs ×1.04; EBITDA 16 861→16 083; at 7.0× EV/EBITDA → +32%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
WTI Crude Oil (rev)+25%88.9277.2177.01+15%-0%
US Crack Spread (oil refining) (rev)+8%45.1043.3532.54+4%-25%

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

1 · Reported baseline (LTM)
LTM revenue48 850
LTM EBITDA16 861
LTM cash costs (revenue − EBITDA)31 990
2 · Revenue projection
Revenue multiplier — spot×1.041 (+4%)
= Spot revenue50 860
Revenue multiplier — 3y price×0.979 (-2%)
= 3-year-price revenue47 844
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs33 269
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs33 269
4 · EBITDA projection (revenue − costs)
= Spot EBITDA17 591
= 3-year-price EBITDA14 575
Conservative EBITDA = min(spot, avg)16 083
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)7.0x
Target EV = EV/EBITDA × conservative EBITDA112 583
Net debt1 235
Target market cap = EV − net debt112 497
Current market cap85 302

Upside = target market cap ÷ current − 1 = +31.9%

Life of mine: 24 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
2021 FY31 18923 262+34.1%9 1096 397+42.4%
2022 FY48 33336 552+32.2%16 21313 589+19.3%
2023 FY38 68945 592-15.1%12 61612 187+3.5%
2024 FY40 06937 580+6.6%11 05410 462+5.7%
2025 FY37 48338 850-3.5%10 6378 675+22.6%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth -6% vs +4% the year before — a -10.0 pp move. 3-year CAGR -8%.
revenue growth by year: 2023 -20% · 2024 +4% · 2025 -6%
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 4.6x · target 75th pct (3y) 12.4x · LTM avg 5.6x

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

Peer comparison

Group: energy (global). Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
Equinorglobal111.72.6x
Petrobrasglobal118.24.5x
TotalEnergiesglobal204.04.6x
Shellglobal294.74.7x
Valero Energyglobal105.95.4x
Marathon Petroleumglobal112.95.6x
ConocoPhillipsglobal168.26.2x
Chevronglobal432.27.6x
Eniglobal87.18.1x
Exxon Mobilglobal701.58.7x
Phillips 66global103.39.3x
Imperial Oilglobal62.211.0x
Group median5.9x
Group average6.5x
This companyglobal85.35.1x

Group median 5.9x; this company 5.1x — a 12% discount.

Group average 6.5x; against the average this company is at a 21% discount.

At the adjusted group median the market cap would be +15% 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 18.7x, Russia 4.0x, South Africa 5.7x, Kazakhstan 6.1x, India 19.3x, Indonesia 5.2x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-11-15; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-040.435 USDEx-dividend: 0.435 USD per sharePaidYahoo Finance (ex-div)
2026-06-040.432 USDEx-dividend: 0.432 USD per sharePaidYahoo Finance (ex-div)
2026-03-040.439 USDEx-dividend: 0.439 USD per sharePaidYahoo Finance (ex-div)
2025-06-040.415 USDEx-dividend: 0.415 USD per sharePaidYahoo Finance (ex-div)
2025-03-040.393 USDEx-dividend: 0.393 USD per sharePaidYahoo Finance (ex-div)
2024-12-030.406 USDEx-dividend: 0.406 USD per sharePaidYahoo Finance (ex-div)
2024-09-040.402 USDEx-dividend: 0.402 USD per sharePaidYahoo Finance (ex-div)
2024-06-040.4 USDEx-dividend: 0.4 USD per sharePaidYahoo Finance (ex-div)
2024-03-010.401 USDEx-dividend: 0.401 USD per sharePaidYahoo Finance (ex-div)
2023-11-300.401 USDEx-dividend: 0.401 USD per sharePaidYahoo Finance (ex-div)
2023-08-310.384 USDEx-dividend: 0.384 USD per sharePaidYahoo Finance (ex-div)
2023-06-020.387 USDEx-dividend: 0.387 USD per sharePaidYahoo Finance (ex-div)
2023-03-020.382 USDEx-dividend: 0.382 USD per sharePaidYahoo Finance (ex-div)
2022-12-010.387 USDEx-dividend: 0.387 USD per sharePaidYahoo Finance (ex-div)
2022-09-010.358 USDEx-dividend: 0.358 USD per sharePaidYahoo Finance (ex-div)
2022-06-020.371 USDEx-dividend: 0.371 USD per sharePaidYahoo Finance (ex-div)
2022-03-030.332 USDEx-dividend: 0.332 USD per sharePaidYahoo Finance (ex-div)
2021-12-020.328 USDEx-dividend: 0.328 USD 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 Suncor Energy — from primary filings.

Frequently asked questions

What is Suncor Energy's P/E ratio?
Suncor Energy trades at a P/E of 10.7x (price to trailing 12-month earnings).
What is Suncor Energy's EV/EBITDA?
Suncor Energy trades at 5.1x EV/EBITDA.
What is Suncor Energy's P/B ratio?
Suncor Energy trades at a P/B of 2.6x.
What is Suncor Energy's dividend yield?
Suncor Energy's trailing 12-month dividend yield is 1.9%.
What is Suncor Energy's return on equity (ROE)?
Suncor Energy's ROE is 31.5%.
What is Suncor Energy's market capitalization?
Suncor Energy's market cap is 85.3 bn USD.

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