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Obsidian Energy

OBE Energy Oil & Gas E&P

Obsidian Energy’s revenue for fiscal 2025 (year ended December 2025) was $429.3 million, down 28.0% from fiscal 2024. In the quarter to June 2026, revenue grew 58.9%, EPS grew 187.5%, free cash flow fell 143.7% and total debt rose 59.1%, each against the same quarter a year earlier.

11.98 0.51 +4.45%
Market cap
$765.4M
P/E
38.6×
Fwd P/E
9.9×
Dividend yield
—
F-score
6/9
Altman Z
0.56
Beneish M
−3.03
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 11.75%

Capital & Financial Ratios $m

Market Cap 765.39
Revenue 443.65
Net Income 19.83
Free Cash Flow (134.24)
Net Debt 256.20
Current Ratio 0.78 (below 1: weak)
Debt/Equity 0.25 (at or below 0.5: strong)
P/E ratio 38.65 (above 35: high)
Fwd P/E 9.90
P/S ratio 1.80
P/B ratio 0.79
Past 5Y EPS Growth —
This Y EPS Growth 199.25% (at or above 15%: strong)
Next Y EPS Growth 33.72% (at or above 15%: strong)
Next Y revenue growth 14.36% (at or above 10%: strong)
Next 5Y EPS Growth 50.25% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.5×, against a ten-year median of 1.9×; over the ten years it ranged from 0.9× in 2025 to 3.5× in 2022.
P/E against its own 10 years 93.15%
10-year low 10-year high
P/S against its own 10 years 92.96%
10-year low 10-year high
P/B against its own 10 years 90.23%
10-year low 10-year high
EV/Sales against its own 10 years 81.83%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 0 — — 0
Receivables 52 64 40 56
Inventory — — — —
Other 18 295 24 39
70 359 64 95
2023 2024 2025 Q'26
Payables 143 128 111 109
ST’ Debt 1 2 — —
Other 24 69 6 10
170 201 120 122

Compound Annual Growth %

10y 5y 3y
Sales (7.44%) 15.86% (10.24%)
Cash Flow 2.27% 23.69% (21.25%)
Earnings 0.00% 0.00% (65.68%)
Book Value (8.03%) 32.79% (6.41%)

Revenue $m

Mar Jun Sep Dec Year
’26 108 143 — — —
’25 147 90 83 109 429
’24 131 152 160 153 597
’23 134 123 149 127 534
’22 161 217 161 55 594
’21 72 82 92 112 358
’20 63 38 58 48 206
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 29 27 — — —
’25 67 42 33 28 172
’24 44 56 81 83 264
’23 54 50 71 86 261
’22 66 97 89 98 351
’21 22 35 51 51 159
’20 25 1 27 7 59
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (29) (71) — — —
’25 (22) 162 (14) (20) 107
’24 (41) (48) 18 24 (47)
’23 (26) 20 36 13 44
’22 (15) 66 32 23 106
’21 (1) 17 16 15 46
’20 (6) 2 22 (1) 17
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.20) 0.44 — — —
’25 0.14 0.15 0.17 (0.13) 0.35
’24 0.11 0.34 0.31 (2.64) (1.95)
’23 0.27 0.16 0.22 0.31 0.95
’22 0.22 1.05 0.37 5.50 7.38
’21 0.24 3.44 0.48 0.21 4.26
’20 (7.62) (0.22) (0.04) 0.01 (7.86)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 3.36 5.74 2.31 0.43 0.13 0.65 4.00 5.33 4.87 3.88

Analyst estimates 2026–2028

Powerpack
High 13.79 14.35 9.45 3.85 0.95 4.36 12.52 8.82 9.07 7.07
People
People Employees 407 281 236 184 171 173 191 198 203 148
Revenue/emp, $m 1.13 1.20 1.45 1.71 1.20 2.07 3.11 2.70 2.94 2.90
Income, $m
Income, $m Revenue 459 337 343 315 206 358 594 534 597 429
Gross margin, % 48.03 53.09 56.31 60.29 51.67 64.18 71.15 66.15 66.59 59.94
EBT (716) (75) (235) (594) (576) 330 434 106 (193) 34
EBT margin, % (155.92) (22.20) (68.69) (188.52) (280.21) 92.23 73.05 19.93 (32.43) 7.84
Net income (526) (65) (235) (594) (576) 330 623 80 (148) 25
Depreciation 495 249 317 688 674 (152) (86) 156 483 145
Per share, $
Per share, $ Revenue 6.40 4.68 4.73 4.32 2.80 4.77 7.24 6.60 7.85 6.19
Earnings (7.35) (0.91) (3.22) (8.15) (7.86) 4.40 7.60 0.99 (1.95) 0.36
Cash flow (1.44) 1.34 1.06 0.79 0.81 2.11 4.29 3.23 3.48 2.47
Capex 14.02 (0.33) (1.65) (0.95) (0.58) (1.50) (3.00) (2.68) (4.10) (0.94)
Free cash flow 12.58 1.01 (0.60) (0.15) 0.23 0.61 1.29 0.55 (0.62) 1.54
Book value 23.64 23.20 19.92 11.27 3.29 8.11 14.82 15.05 13.50 14.35
Shares, m 72 72 72 73 73 75 82 81 76 69
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.94 0.80 6.78 0.00 17.03
P/S 1.97 1.96 0.59 0.17 0.24 0.86 0.82 1.02 0.74 0.99
P/B 0.53 0.40 0.14 0.06 0.20 0.51 0.40 0.45 0.43 0.43
EV/Sales 2.72 2.78 1.53 1.26 1.87 2.60 1.55 1.32 1.15 1.37
EV/FCF 1.38 12.90 (12.14) (35.18) 23.13 20.22 8.71 15.98 (14.51) 5.52
Cash, $m
Cash, $m Operating cash flow (103) 96 76 58 59 159 351 261 264 172
Capex 1,007 (24) (120) (69) (43) (113) (246) (217) (311) (65)
Free cash flow 903 73 (43) (11) 17 46 106 44 (47) 107
Balance, $m
Balance, $m Working capital (2) (75) (88) (327) (365) (354) (94) (100) 158 (55)
Total debt 354 277 323 347 342 312 173 163 245 129
Net debt 346 275 322 345 336 306 173 163 245 129
Shareholders’ equity 1,697 1,671 1,441 823 241 609 1,215 1,218 1,026 996
Returns, %
Returns, % ROA (14.67) (2.68) (10.78) (34.14) (53.47) 35.52 43.95 4.76 (9.21) 1.76
ROIC (19.45) (3.62) (7.36) (29.68) (62.29) 23.49 20.38 6.27 (7.77) 2.70
ROE (26.30) (3.85) (15.12) (52.46) (108.27) 77.69 68.31 6.58 (13.18) 2.49
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Obsidian Energy vs peers in Oil & Gas E&P (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
REPX Riley Exploration Permian, Inc. $1.0B 8.7× 14.6× +94.22% (above 0%: growing) +189.58% (above 0%: growing) −366.95% (below 0%: shrinking) 100.00% 52.60% Compare
INR Infinity Natural Resources Inc. $824.5M 4.5× 4.4× +129.63% (above 0%: growing) +14.41% (above 0%: growing) +3,802.98% (above 0%: growing) 82.81% 41.23% Compare
TXO TXO Partners LP $786.8M — (loss-making) 22.0× +67.86% (above 0%: growing) n/m +1,641.19% (above 0%: growing) 72.44% 38.22% Compare
OBE Obsidian Energy $765.4M 38.6× 9.9× +58.90% (above 0%: growing) +187.50% (above 0%: growing) −143.71% (below 0%: shrinking) 71.83% 32.07%
GPRK Geopark Ltd $748.3M 7.9× 9.7× +19.65% (above 0%: growing) n/m +168.34% (above 0%: growing) 62.98% 28.48% Compare
VTS Vitesse Energy, Inc. $733.0M — (loss-making) — (loss-making) +11.31% (above 0%: growing) +27.42% (above 0%: growing) −84.33% (below 0%: shrinking) 100.00% 22.94% Compare
GRNT Granite Ridge Resources, Inc. $671.4M — (loss-making) 30.1× +36.67% (above 0%: growing) +21.05% (above 0%: growing) +23.00% (above 0%: growing) 100.00% 26.14% Compare
EGY Vaalco Energy Inc $632.2M — (loss-making) 61.0× +39.50% (above 0%: growing) +387.50% (above 0%: growing) −8.36% (below 0%: shrinking) 100.00% 32.25% Compare
WTI W&T Offshore, Inc. $552.5M — (loss-making) — (loss-making) +32.89% (above 0%: growing) n/m +43.56% (above 0%: growing) 51.96% 13.92% Compare
Median of peers $740.7M 7.9× 18.3× +38.09% +27.42% +33.28% 91.41% 30.37%

All 73 Oil & Gas E&P stocks →

Obsidian Energy (OBE) key facts

  • Concern: Obsidian Energy’s revenue for fiscal 2025 (year ended December 2025) was $429.3 million, down 28.0% from fiscal 2024.
  • Obsidian Energy (OBE) is an Oil & Gas E&P company in the Energy sector, listed on NYSE American.
  • As of October 16, 2026, OBE traded at $11.98, a market capitalization of $765.4 million.
  • Return on equity was 2.49% and debt-to-equity 0.25.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 0.56 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Obsidian Energy (OBE) Latest News

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stockrow.com/OBE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com