BTE vs PBA
Baytex Energy Corp. and Pembina Pipeline Corp., side by side — 7 fiscal years reported in CAD, drawn from SEC filings.
Most recent reported year
| Metric | BTE | PBA |
|---|---|---|
| Revenue | CAD 1.5B | CAD 7.8B |
| Net income | CAD -603.8M | CAD 1.7B |
| Gross margin | · | 41.1% |
| Net margin | −40.8% | 21.8% |
| Return on equity | −18.4% | 9.9% |
| Diluted EPS | −CAD 0.78 | CAD 2.66 |
| Dividend / share | · | · |
| Payout ratio | −11.5% | · |
| Free cash flow | · | · |
| Equity | · | · |
| Net debt / equity | · | 0.69× |
| Current ratio | 3.61× | 0.61× |
| Revenue CAGR 5y | 12.8% | 5.5% |
| Profit CAGR 5y | · | · |
PBA bills 5.3× 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 | PBA |
|---|---|---|
| FY2025 | CAD 1.5B | CAD 7.8B |
| FY2024 | CAD 1.6B | CAD 7.4B |
| FY2023 | CAD 2.7B | CAD 6.3B |
| FY2022 | CAD 2.3B | CAD 11.6B |
| FY2021 | CAD 1.5B | CAD 8.6B |
| FY2020 | CAD 811.7M | CAD 6.0B |
| FY2019 | CAD 1.5B | CAD 6.4B |
Bottom line
| Fiscal year | BTE | PBA |
|---|---|---|
| FY2025 | CAD -603.8M | CAD 1.7B |
| FY2024 | CAD 236.6M | CAD 1.9B |
| FY2023 | CAD -233.4M | CAD 1.8B |
| FY2022 | CAD 855.6M | CAD 3.0B |
| FY2021 | CAD 1.6B | CAD 1.2B |
| FY2020 | CAD -2.4B | CAD -316.0M |
| FY2019 | CAD -12.5M | CAD 1.5B |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CAD 6,297,185,000 | PBA |
| FY2024 | −CAD 5,771,159,000 | PBA |
| FY2023 | −CAD 3,618,171,000 | PBA |
| FY2022 | −CAD 9,284,919,000 | PBA |
| FY2021 | −CAD 7,097,961,000 | PBA |
| FY2020 | −CAD 5,141,258,000 | PBA |
| FY2019 | −CAD 4,886,322,000 | PBA |
PBA has reported the higher revenue in every one of these 7 fiscal years. The gap has widened since the earliest year compared.
7 of 8 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −62.6 pp | PBA |
| FY2024 | −10.7 pp | PBA |
| FY2023 | −36.7 pp | PBA |
| FY2022 | +11.2 pp | BTE |
| FY2021 | +91.1 pp | BTE |
| FY2020 | −295.2 pp | PBA |
| FY2019 | −24.5 pp | PBA |
The higher net margin has changed hands between BTE and PBA over this period.
7 of 8 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 PBA's over the 7 comparable fiscal years — 119.1 percentage points of standard deviation against 10.7.
7 of 8 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 PBA over these 7 fiscal years — BTE led in 2 and PBA in 5.
7 of 8 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 PBA's over the 4 comparable fiscal years — 9.0 percentage points of standard deviation against 3.7.
4 of 8 comparable fiscal years — a year missing data on either side is not counted.
Year by year
PBA led in return on equity in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 8 comparable fiscal years — a year missing data on either side is not counted.