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Logan Energy

LGN.V
74
Oil & Gas Exploration & Production · Energy
Price
C$1.18
-0.01 (-0.42%)
Market Cap
C$791.3M
Exchange
Toronto Stock Exchange Ventures
Winston Score
74
Winston is happy
A high-quality business with solid fundamentals.
Data as of Sep 3, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Strong
Growth
Exceptional
Cash Flow
Good
Stability
Strong
Valuation
Strong

Share count rising — dilution

+101.6% over 3y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 311.7M (2022) → 628.6M (2025)

Winston Score History

The full picture

Logan Energy Corp. engages in the exploration, development, and production of crude oil and natural gas properties. The company holds interest in the Simonette and Pouce Coupe properties in northwest Alberta; and the Flatrock property in northeastern British Columbia. Logan Energy Corp. was formerly known as 2499938 Alberta Ltd. and changed its name to Logan Energy Corp. in March 2023. The company was incorporated in 2023 and is headquartered in Calgary, Canada.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+79.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+40.9% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Cash Runway

~0 months

C$3M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

Logan Energy grew revenue 79% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
55.8%
Premium pricing power — 55.8% gross margin
Profit after running costs
Operating Margin
46.2%
Excellent — 46.2% operating margin
Return on the money invested
ROCE
11.4%
Below par — 11.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+57.5%
Fast-growing sales (+57.5% YoY)
Profit growth
EPS YoY
+45.7%
Earnings growing fast (+45.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
340%
Turns 340% of profit into real cash
Spare cash per sale
FCF Margin
-40.3%
Burning cash (-40.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.30
Conservative — low debt load (0.30)
Covers its interest
Interest Cover
6.07x
Adequate interest coverage (6.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
19.4x
Fair value — P/E 19.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+11.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (19.4 → 8.3)

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Dividends

Not applicable for this business.
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