Journey Energy Inc. (JOY.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-19.3%

CA$4.00

vs CA$4.96 price

Levered DCF

CA$2.03

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.01

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	8.15×	22.91×	14.85×	1.85×	1.24×	-0.18×	-2.18×	-2.06×
P/B	0.6×	0.36×	0.74×	1.01×	1.45×	-0.5×	2.14×	1.39×
P/S	1.24×	0.58×	1.25×	1.22×	0.99×	0.15×	0.63×	0.67×
EV / EBITDA	3.52×	3.05×	3.78×	3.54×	3.69×	-14.85×	8.7×	7.3×
Gross margin	22.4%	62.4%	20.8%	67.8%	66.2%	32.5%	55.0%	57.8%
Operating margin	14.5%	4.8%	14.9%	30.1%	19.5%	-42.5%	-4.5%	-3.1%
Net margin	15.1%	2.5%	8.5%	65.9%	80.0%	-83.4%	-28.7%	-32.6%
Current ratio	0.65×	0.57×	0.44×	0.49×	0.77×	0.42×	0.16×	0.59×
Debt / equity	0.14×	0.17×	0.2×	0.39×	0.77×	-4.2×	3.7×	2.26×
Interest coverage	3.11×	1.24×	2.8×	8.23×	2.59×	-2.31×	-0.48×	-0.38×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.3%	1.6%	5.0%	54.5%	117.6%	285.7%	-98.1%	-67.1%
Return on invested capital	4.3%	1.3%	4.0%	12.1%	6.6%	-10.6%	-1.6%	-1.0%
Return on assets	4.5%	0.9%	2.6%	24.3%	27.8%	-19.7%	-9.1%	-9.8%
Free cash flow yield	-2.4%	-6.0%	8.7%	1.7%	29.5%	45.3%	9.9%	-21.5%
Earnings yield	12.1%	4.4%	6.8%	54.0%	80.9%	-570.4%	-45.9%	-48.5%
Enterprise value	CA$262.9M	CA$164.3M	CA$277.4M	CA$366.5M	CA$172.3M	CA$86.5M	CA$261.2M	CA$204.2M
Net debt / EBITDA	0.66×	0.86×	0.61×	0.76×	1.06×	-13.14×	6.42×	4.54×
Cash conversion cycle (days)	-34	-149	-68	-173	-119	-79	399	-90