Tamarack Valley Energy Ltd. (TVE.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

-100.5%

-CA$0.06

vs CA$13.02 price

Levered DCF

-CA$6.58

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

4.31

Safe zone

Rating

B+

Overall 3 / 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	-110.07×	15.97×	18.06×	5.95×	3.5×	-0.91×	-11.76×	13.88×
P/B	2.19×	1.22×	0.79×	0.95×	1.08×	0.56×	0.58×	0.66×
P/S	2.97×	1.49×	1.21×	1.41×	1.94×	1.27×	1.18×	1.35×
EV / EBITDA	8.48×	3.81×	2.88×	3.87×	2.47×	-1.94×	5.24×	2.81×
Gross margin	37.0%	33.5%	29.7%	42.1%	38.3%	-4.3%	22.6%	22.1%
Operating margin	32.2%	25.7%	25.2%	35.8%	32.0%	-12.3%	15.8%	15.5%
Net margin	-2.7%	9.3%	6.7%	23.6%	55.7%	-140.2%	-10.2%	9.6%
Current ratio	0.9×	0.78×	0.52×	0.29×	0.93×	0.56×	0.93×	0.99×
Debt / equity	0.38×	0.36×	0.39×	0.56×	0.39×	0.43×	0.27×	0.2×
Interest coverage	5.54×	4.95×	3.42×	10.78×	10.46×	-2.71×	6.39×	7.67×
Dividend yield	1.9%	3.1%	4.9%	2.7%	0.0%	0.0%	0.0%	0.0%
Payout ratio	-211.9%	50.2%	88.7%	16.0%	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	-2.0%	7.6%	4.3%	16.0%	31.0%	-61.1%	-5.0%	4.7%
Return on invested capital	12.3%	9.3%	6.1%	9.6%	7.5%	-2.2%	3.7%	3.3%
Return on assets	-1.1%	4.1%	2.2%	7.5%	16.8%	-30.3%	-3.1%	3.0%
Free cash flow yield	9.5%	14.6%	6.7%	-29.5%	-25.7%	7.7%	3.6%	1.4%
Earnings yield	-0.9%	6.2%	5.5%	16.8%	28.7%	-110.1%	-8.7%	7.1%
Enterprise value	CA$4.7B	CA$3.4B	CA$2.5B	CA$3.4B	CA$1.9B	CA$514.1M	CA$667.7M	CA$698.9M
Net debt / EBITDA	1.25×	0.86×	0.95×	1.5×	0.66×	-0.87×	1.7×	0.65×
Cash conversion cycle (days)	-31	-34	-40	-19	-10	5	9	-54