Valeura Energy

VLE.TO

Oil & Gas Exploration & Production · Energy

Price

C$13.13

+0.00 (+0.00%)

Market Cap

C$1.39B

Exchange

Toronto Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Mixed

Cash Flow

Exceptional

Stability

Strong

Valuation

Mixed

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Share count rising — dilution

+26.1% over 4y

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

Diluted shares outstanding: 86.6M (2021) → 109.2M (2025)

Winston Score History

The full picture

Valeura Energy is an oil and gas company that finds, produces, and sells crude oil. Its main product is offshore crude oil, which it sells to refineries and trading companies. The company operates primarily in the Gulf of Thailand, where it acquired a portfolio of producing offshore assets from Mubadala Energy in 2023.

Valeura makes money by selling the crude oil it pumps out of the ground, so its revenue rises and falls with oil prices and production volumes. It is a mid-size independent producer with a market cap around $1.2 billion, focused entirely on Southeast Asia. The company's main competitive advantage is its low-cost offshore production base, but its biggest risk is that it has limited asset diversification — if production at its Thai fields declines faster than expected, or oil prices fall sharply, earnings could drop significantly.

Growth Profile

For growth stock investors

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

Revenue Growth

+98.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+880.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

20.4%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

$316M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Valeura Energy grew revenue 99% 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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

53.8%

Healthy — 53.8% gross margin

Profit after running costs

Operating Margin

37.2%

Excellent — 37.2% operating margin

Return on the money invested

ROCE

18.3%

Strong — 18.3% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+4.8%

Slow sales growth (+4.8% YoY)

Profit growth

EPS YoY

-70.6%

Earnings shrinking (-70.6% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

560%

Turns 560% of profit into real cash

Spare cash per sale

FCF Margin

18.5%

Converts sales into free cash efficiently (18.5%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.04

Conservative — low debt load (0.04)

Covers its interest

Interest Cover

7.79x

Adequate interest coverage (7.8x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

15.0x

Fair value — P/E 15.0

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

-0.9

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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