BTE vs CNQ
Baytex Energy Corp. and Canadian Natural Resources Ltd., side by side — 7 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | BTE | CNQ |
|---|---|---|
| Revenue | CAD 1.5B | CAD 38.8B |
| Net income | CAD -603.8M | CAD 10.8B |
| Gross margin | · | · |
| Net margin | −40.8% | 27.9% |
| Return on equity | −18.4% | 25.8% |
| Diluted EPS | −CAD 0.78 | CAD 5.16 |
| Dividend / share | · | · |
| Payout ratio | −11.5% | 45.0% |
| Free cash flow | · | · |
| Equity | · | · |
| Net debt / equity | · | 0.36× |
| Current ratio | 3.61× | 0.95× |
| Revenue CAGR 5y | 12.8% | 18.1% |
| Profit CAGR 5y | · | · |
CNQ bills 26.2× the revenue of BTE, and BTE closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
7 years side by side
| Fiscal year | BTE | CNQ |
|---|---|---|
| FY2025 | CAD 1.5B | CAD 38.8B |
| FY2024 | CAD 1.6B | CAD 35.7B |
| FY2023 | CAD 2.7B | CAD 36.0B |
| FY2022 | CAD 2.3B | CAD 42.3B |
| FY2021 | CAD 1.5B | CAD 30.1B |
| FY2020 | CAD 811.7M | CAD 16.9B |
| FY2019 | CAD 1.5B | CAD 22.9B |
Bottom line
| Fiscal year | BTE | CNQ |
|---|---|---|
| FY2025 | CAD -603.8M | CAD 10.8B |
| FY2024 | CAD 236.6M | CAD 6.1B |
| FY2023 | CAD -233.4M | CAD 8.2B |
| FY2022 | CAD 855.6M | CAD 10.9B |
| FY2021 | CAD 1.6B | CAD 7.7B |
| FY2020 | CAD -2.4B | CAD -435.0M |
| FY2019 | CAD -12.5M | CAD 5.4B |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CAD 37,281,185,000 | CNQ |
| FY2024 | −CAD 34,043,159,000 | CNQ |
| FY2023 | −CAD 33,255,171,000 | CNQ |
| FY2022 | −CAD 39,971,919,000 | CNQ |
| FY2021 | −CAD 28,527,961,000 | CNQ |
| FY2020 | −CAD 16,081,258,000 | CNQ |
| FY2019 | −CAD 21,385,322,000 | CNQ |
CNQ has reported the higher revenue in every one of these 7 fiscal years. The gap has widened since the earliest year compared.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −68.7 pp | CNQ |
| FY2024 | −2.5 pp | CNQ |
| FY2023 | −31.5 pp | CNQ |
| FY2022 | +10.9 pp | BTE |
| FY2021 | +80.0 pp | BTE |
| FY2020 | −297.9 pp | CNQ |
| FY2019 | −24.5 pp | CNQ |
The higher net margin has changed hands between BTE and CNQ over this period.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BTE's net margin has been more volatile than CNQ's over the 7 comparable fiscal years — 119.1 percentage points of standard deviation against 9.8.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between BTE and CNQ over these 7 fiscal years — BTE led in 2 and CNQ in 5.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BTE's return on equity has been more volatile than CNQ's over the 7 comparable fiscal years — 69.7 percentage points of standard deviation against 9.2.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between BTE and CNQ over these 7 fiscal years — BTE led in 2 and CNQ in 5.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.