Loading…
Canadian light-oil and liquids-rich natural gas producer operating across Alberta, Saskatchewan and British Columbia.
Canadian light-oil and liquids-rich natural gas producer operating across Alberta, Saskatchewan and British Columbia.
Sells crude oil, natural gas liquids and gas at benchmark-linked prices, so revenue moves with the market and well costs decide the profit. It pays a monthly dividend and has grown largely by buying other producers or their assets.
In one line: A mid-cap Canadian Devon Energy.
Moat: none (scale). Commodity oil/gas producer; competitiveness rests on well costs and decline rates, not pricing power.
Headquarters: Calgary, Alberta, Canada · Employees: 1,045
Size Whitecap Resources (WCP.TO) is a Canada Energy company (Integrated Oil) with a market value of $14.4B, the 59th largest of 420 Canada companies the cockpit tracks. Shares closed at C$16.67 on 6 Nov 2026.
Performance Over six months the shares gained 6.1%, against -4.7% for the median peer and +5.2% for the Canada market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 73.3% over the last twelve months (peer median +12.7%); the operating margin is 38.2% (peer median 32.6%).
Valuation It trades at 8.8× forward earnings against a peer median of 7.6× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +45%, so the hurdle is -52 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.3 points above its cost of capital (7.4% WACC).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$7.83B | C$5.17B | C$3.34B | C$3.23B | C$3.92B |
| Revenue growth | — | +55% | +3% | -18% | — |
| Gross profit | C$3.42B | C$1.61B | C$1.32B | C$1.40B | C$2.19B |
| EBITDA | C$5.24B | C$2.95B | C$1.97B | C$1.93B | C$2.64B |
| Net income | C$1.55B | C$985M | C$812M | C$889M | C$1.68B |
| Free cash flow | C$2.40B | C$609M | C$697M | C$618M | C$1.49B |
| Capital expenditure | C$2.36B | C$2.08B | C$1.14B | C$1.12B | C$694M |
| Total debt | C$2.78B | C$3.77B | C$1.14B | C$1.38B | C$1.87B |
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 |
|---|---|---|---|---|---|---|
| Whitecap Resources WCP.TO | $14.4B | +6% | +73% | 38% | 8.8× | -7.1% |
| Tourmaline Oil TOU.TO | $17.5B | -3% | +4% | 1% | 11.9× | n/a |
| Peyto Exploration & Development PEY.TO | $3.54B | -5% | +26% | 40% | 12.6× | -2.1% |
| Baytex Energy BTE.TO | $2.95B | -11% | -8% | 15% | 7.5× | 4.7% |
| ARC Resources ARX.TO | n/a | +29% | n/a | n/a | n/a | 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 | WCP.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.8% | -5.4% | 6th lowest of 21 |
| 6-month return | +6.1% | -4.7% | 5th highest of 21 |
| Distance from 52-week high | -19.8% | -23.5% | 10th highest of 21 |
| Revenue growth (TTM) | +73.3% | +12.7% | 2nd highest of 21 |
| Operating margin | 38.2% | 32.6% | 9th highest of 21 |
| Forward P/E | 8.8× | 7.6× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -7.1% | -12.0% | 7th most demanding of 19 |
| Growth delivered (Del g) | +44.8% | +16.2% | 2nd highest of 19 |
| Hurdle (Req g minus delivered) | -51.9 pp | -27.6 pp | 3rd least demanding of 19 |
| ROIC minus cost of capital | +8.3 pp | +4.9 pp | 8th highest of 21 |
| EV / EBITDA | 4.3× | 4.0× | 8th most expensive of 19 |
| Net debt / EBITDA | 0.5× | 0.9× | 3rd least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Whitecap Resources WCP.TO | Canada | $14.4B | +6% | +73% | 38% | 8.8× | -7.1% | +44.8% |
| APA APA | United States | $15.6B | +26% | -12% | 41% | 7.5× | -20.0% | +15.0% |
| Var Energi VAR.OL | Norway | $13.3B | +7% | +48% | 55% | 6.9× | -19.6% | +26.6% |
| Ovintiv OVV | United States | $16.3B | +5% | +14% | 29% | 7.1× | -10.9% | +9.4% |
| YPF SA Sponsored ADR YPF | United States | $17.8B | -9% | -14% | 22% | 4.9× | n/a | n/a |
| Permian Resources PR | United States | $18.2B | +10% | +13% | 36% | 8.1× | -2.0% | +54.2% |
| Expand Energy EXE | United States | $19.5B | -11% | +20% | 20% | 10.8× | -7.6% | +20.3% |
| Aker BP AKRBP.OL | Norway | $21.6B | -8% | +4% | 70% | 7.8× | -15.4% | +32.7% |
| Indian Oil IOC.NS | India | $21.9B | 0% | +23% | 7% | 20.8× | -2.3% | +16.4% |
| Inpex 1605.T | Japan | $25.9B | -16% | -8% | 49% | 7.4× | -14.4% | +21.1% |
| Oil India OIL.NS | India | $7.60B | -2% | +20% | 29% | 7.7× | -1.1% | +13.7% |
| Chord Energy CHRD | United States | $7.47B | 0% | +19% | 19% | 6.3× | -13.4% | +38.6% |
| SM Energy SM | United States | $7.12B | +2% | +100% | 38% | 3.5× | -13.6% | +22.9% |
| National Fuel Gas NFG | United States | $6.98B | -8% | +13% | 37% | 10.2× | -6.2% | +9.1% |
| Oil & Natural Gas ONGC.NS | India | $30.8B | -18% | +7% | 9% | 5.6× | -12.6% | +14.9% |
| EQT EQT | United States | $30.9B | -12% | +18% | 42% | 16.0× | -1.9% | +25.7% |
| Guanghui Energy 600256.SS | China | $6.47B | 0% | -5% | 18% | 10.1× | -11.4% | +14.9% |
| Ecopetrol SA Sponsored ADR EC | United States | $32.6B | +23% | +6% | 22% | 6.5× | -6.7% | +15.9% |
| CNOOC Energy Technology & Services 600968.SS | China | $6.25B | -7% | -1% | 9% | 9.7× | -14.2% | +8.7% |
| Matador Resources MTDR | United States | $6.24B | -9% | +13% | 39% | 5.0× | n/a | n/a |
| Hess Midstream LP HESM | United States | $6.18B | -22% | -1% | 63% | 10.3× | -16.3% | +8.2% |