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International oil and gas producer with assets in Canada, Europe (including Corrib gas in Ireland) and Australia.
International oil and gas producer with assets in Canada, Europe (including Corrib gas in Ireland) and Australia.
Sells oil and gas at market-linked prices in each region: Canadian oil and gas, oil in France, and European gas priced off European hubs, which have usually paid more than North American gas. Where output sits therefore matters as much as how much there is. Corrib in Ireland is one of its main European gas sources.
In one line: A geographically diversified international oil & gas producer.
Moat: none. Commodity oil & gas producer; geographic diversification (including premium European gas pricing) helps but is not a structural moat.
Headquarters: Calgary, Canada · Founded: 1994 · Employees: 636
Size Vermilion Energy (VET.TO) is a Canada Energy company (Oil & Gas Production) with a market value of $1.61B, the 202nd largest of 420 Canada companies the cockpit tracks. Shares closed at C$14.78 on 6 Nov 2026.
Performance Over six months the shares fell 8.7%, against -16.3% for the median peer and +5.2% for the Canada market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue fell 2.2% over the last twelve months (peer median +13.5%); the operating margin is 14.1% (peer median 22.7%).
Valuation It trades at 4.3× forward earnings against a peer median of 9.9× (3rd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.4 points below its cost of capital (6.2% WACC).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$1.87B | C$1.77B | C$1.55B | C$1.93B | C$3.19B |
| Revenue growth | — | +14% | -20% | -40% | — |
| Gross profit | C$374M | C$291M | C$291M | C$359M | C$1.74B |
| EBITDA | C$1.05B | C$937M | C$817M | C$1.03B | C$2.28B |
| Net income | -C$446M | -C$654M | -C$46.7M | -C$238M | C$1.31B |
| Free cash flow | C$339M | C$326M | C$381M | C$313M | C$776M |
| Capital expenditure | C$581M | C$635M | C$623M | C$732M | C$1.06B |
| Total debt | C$1.36B | C$1.30B | C$1.03B | C$968M | C$1.15B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Vermilion Energy VET.TO | $1.61B | -9% | -2% | 14% | 4.3× | -0.8% |
| Athabasca Oil ATH.TO | $3.92B | +1% | +3% | 31% | 13.7× | -5.3% |
| Baytex Energy BTE.TO | $2.95B | -11% | -8% | 15% | 7.5× | 4.7% |
| Tourmaline Oil TOU.TO | $17.5B | -3% | +4% | 1% | 11.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VET.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.2% | -9.9% | 10th lowest of 21 |
| 6-month return | -8.7% | -16.3% | 8th highest of 20 |
| Distance from 52-week high | -27.2% | -31.2% | 9th highest of 21 |
| Revenue growth (TTM) | -2.2% | +13.5% | 6th lowest of 18 |
| Operating margin | 14.1% | 22.7% | 3rd lowest of 18 |
| Forward P/E | 4.3× | 9.9× | 3rd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -0.8% | -11.7% | 3rd most demanding of 11 |
| Growth delivered (Del g) | +9.1% | +21.6% | 2nd lowest of 11 |
| Hurdle (Req g minus delivered) | -9.9 pp | -28.7 pp | most demanding of 11 |
| ROIC minus cost of capital | -0.4 pp | +1.6 pp | 7th lowest of 21 |
| EV / EBITDA | 3.3× | 4.2× | 5th cheapest of 17 |
| Net debt / EBITDA | 1.2× | 1.0× | 6th most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Vermilion Energy VET.TO | Canada | $1.61B | -9% | -2% | 14% | 4.3× | -0.8% | +9.1% |
| Spartan Delta SDE.TO | Canada | $1.63B | -11% | +93% | 32% | 7.6× | n/a | n/a |
| Etablissements Maurel & Prom MAU.PA | France | $1.57B | -29% | -11% | 31% | 5.4× | n/a | n/a |
| NextDecade NEXT | United States | $1.56B | -23% | n/a | n/a | n/a | n/a | n/a |
| Energean ENOG.L | United Kingdom | $1.72B | -19% | +9% | 27% | 4.2× | -2.4% | +126.8% |
| BlueNord BNOR.OL | Norway | $1.49B | -6% | +28% | 32% | 10.9× | -12.2% | +15.0% |
| Beach Energy BPT.AX | Australia | $1.42B | -16% | -9% | 21% | 5.5× | -12.2% | +4.2% |
| Cardinal Energy CJ.TO | Canada | $1.40B | -8% | +18% | 31% | 11.8× | 5.3% | +17.9% |
| Parex Resources PXT.TO | Canada | $1.36B | -30% | +14% | 29% | 3.5× | -11.2% | +11.5% |
| Zhongman Petroleum and Natural Gas 603619.SS | China | $1.30B | -42% | -13% | 20% | 20.7× | n/a | n/a |
| Vedanta Oil and Gas VOGL.NS | India | $1.27B | n/a | n/a | n/a | n/a | n/a | n/a |
| Advantage Energy AAV.TO | Canada | $1.26B | +6% | +14% | 20% | 16.0× | n/a | n/a |
| Select Water Solutions WTTR | United States | $2.09B | -4% | -2% | 4% | 28.9× | n/a | n/a |
| Serica Energy SER.L | United Kingdom | $1.20B | -17% | +64% | 23% | 12.6× | -13.0% | +29.4% |
| Oriental Energy 002221.SZ | China | $1.17B | -36% | -22% | 3% | 15.2× | n/a | n/a |
| Tenaz Energy TNZ.TO | Canada | $1.13B | -21% | +381% | 16% | 11.9× | 17.7% | +103.4% |
| Valeura Energy VLE.TO | Canada | $1.07B | +11% | +6% | 17% | 9.9× | -17.3% | +141.2% |
| Northern Oil and Gas NOG | United States | $2.43B | -2% | -3% | 30% | 4.9× | n/a | n/a |
| Talos Energy TALO | United States | $2.48B | -1% | +13% | 14% | 7.9× | -5.0% | +25.3% |
| Gulfport Energy GPOR | United States | $2.65B | -16% | +27% | 42% | 6.3× | -13.4% | +10.6% |
| Rockhopper Exploration RKH.L | United Kingdom | $937M | -18% | n/a | n/a | n/a | n/a | n/a |