Vermilion Energy Inc. (VET) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.67	$0.86	+28.4%	—	$563.1M	—
Q1 26	$0.27	-$0.92	-440.7%	—	$519.1M	—
Q4 25	$0.08	-$2.86	-3675.0%	—	$462.5M	—
Q3 25	$0.19	$0.02	-89.5%	—	$464.5M	—
Q2 25	-$0.14	$0.48	+442.9%	—	$472.3M	—
Q1 25	$0.23	$0.1	-56.5%	—	$585.1M	—
Q4 24	$0.49	-$0.12	-124.5%	—	$515.7M	—
Q3 24	$1.51	$1.76	+16.6%	—	$359.4M	—
Q2 24	$0.2	-$0.52	-360.0%	—	$507.6M	—
Q1 24	$0.99	$0.03	-97.0%	—	$392.1M	—
Q4 23	$0.68	$2.94	+332.4%	—	$561.4M	—
Q3 23	$0.43	$0.34	-20.9%	—	$362.4M	—
Q2 23	$0.37	$0.71	+91.9%	—	$350.6M	—
Q1 23	$0.96	$1.04	+8.3%	—	$414M	—
Q4 22	$0.3	$0.98	+226.7%	—	$614.3M	—
Q3 22	$1.97	$1.61	-18.3%	—	$721.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$4.25	—	—	$1.9B	—
FY24	—	-$0.3	—	—	$2.1B	—
FY23	—	-$1.45	—	—	$2.2B	—
FY22	—	$8.03	—	—	$2.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$607.4M	$756M	$1.2B	$1.3B	$858.2M	$1.5B	$2.6B	$2.2B	$2.1B	$1.9B
YoY change	-6.04%	+24.5%	+52.7%	+13.9%	-34.7%	+78.5%	+67.1%	-14.1%	-5.7%	-9.16%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	607.4M	756M	1.2B	1.3B	858.2M	1.5B	2.6B	2.2B	2.1B	1.9B
Cost of revenue	400.6M	389.5M	523.7M	729.4M	560.6M	622.6M	776.1M	1.1B	954M	880.1M
Gross profit	206.8M	366.5M	630.8M	585.5M	297.6M	909.5M	1.8B	1.1B	1.1B	1B
Gross margin	34%	48.5%	54.6%	44.5%	34.7%	59.4%	69.7%	50.8%	54%	53.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	111.2M	109.7M	113.2M	134.6M	118M	118.1M	70.2M	123.5M	129.4M	123.6M
Operating expenses	281.1M	294.9M	380.3M	459.9M	429.3M	432.2M	501M	803.9M	870.8M	836.6M
Operating income	-74.3M	71.6M	250.5M	125.6M	-131.8M	477.3M	1.3B	314.3M	249.4M	167.5M
Operating margin	-12.2%	9.47%	21.7%	9.56%	-15.4%	31.2%	50.1%	14.3%	12%	8.89%
Non-operating income, net	-40.1M	53.5M	43.6M	27.4M	-1.1B	523.7M	185M	-507.4M	-171.4M	-359.6M
Pretax income	-153.6M	85.6M	244M	97.1M	-1.3B	950.8M	1.4B	-278.3M	-6.6M	-324.8M
Income tax	-43.5M	42.8M	57.1M	74.5M	-247.7M	160.4M	507.8M	-40.7M	40.2M	40M
Net income	-110.1M	42.8M	186.9M	22.6M	-1B	790.3M	903.4M	-237.6M	-46.7M	-653.6M
Net margin	-18.1%	5.67%	16.2%	1.72%	-121.6%	51.6%	35.3%	-10.8%	-2.25%	-34.7%
EBITDA	291.6M	409.9M	669.6M	594.9M	269.9M	885.4M	1.7B	1B	919.5M	905.4M
EPS	-1.38	0.52	1.93	0.21	-9.61	7.13	8.03	-1.45	-0.3	-4.25
Diluted EPS	-1.38	0.51	1.91	0.21	-9.61	6.97	7.8	-1.45	-0.3	-4.25

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	362.4M	561.4M	392.1M	507.6M	359.4M	515.7M	585.1M	472.3M	464.5M	462.5M	519.1M	563.1M
Cost of revenue	161.4M	342.6M	190.4M	236.4M	169.1M	214.9M	242M	223.5M	216.5M	245.5M	201.2M	218.7M
Gross profit	201.1M	218.8M	201.7M	271.1M	190.3M	300.8M	343.2M	248.8M	248.1M	217M	317.9M	344.3M
Gross margin	55.5%	39%	51.4%	53.4%	53%	58.3%	58.6%	52.7%	53.4%	46.9%	61.2%	61.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	18.8M	27.7M	21M	37M	20.1M	35M	40.6M	30.9M	25M	32M	22.4M	30.7M
Operating expenses	131.9M	186.5M	157.4M	220.8M	151.6M	217.8M	231.4M	205.2M	217.2M	220.5M	216.3M	209.8M
Operating income	69.2M	32.3M	44.2M	50.3M	38.7M	83.1M	111.7M	43.6M	30.9M	-3.6M	101.7M	134.5M
Operating margin	19.1%	5.75%	11.3%	9.92%	10.8%	16.1%	19.1%	9.22%	6.64%	-0.77%	19.6%	23.9%
Non-operating income, net	-8.4M	-924.5M	8.7M	-75.3M	26M	-144.7M	-50.7M	121.7M	25.4M	-455.8M	-317.3M	104.2M
Pretax income	46.9M	-915.1M	39.7M	-46M	49.6M	-85.6M	28M	127.6M	21.8M	-487.1M	-242.3M	212.6M
Income tax	7.5M	-112M	38.1M	36.4M	12.8M	-67.2M	13.1M	53.2M	26.6M	-49M	-101.1M	78M
Net income	39.4M	-803.1M	1.7M	-82.4M	36.8M	-18.3M	15M	-233.5M	2.6M	-437.7M	-145.5M	134.2M
Net margin	10.9%	-143.1%	0.42%	-16.2%	10.2%	-3.55%	2.56%	-49.4%	0.55%	-94.6%	-28%	23.8%
EBITDA	165.9M	294.9M	172.3M	210.7M	165.5M	236.4M	273.3M	225.7M	205.4M	216.1M	101.7M	311.2M
EPS	0.35	—	0.01	-0.52	0.33	—	0.1	-1.51	0.02	—	-0.95	0.88
Diluted EPS	0.34	—	0.01	-0.52	0.33	—	0.1	-1.51	0.02	—	-0.95	0.86

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.9B	4.4B	—	—	702.7M	2B	2.9B	—	—	1.3B	1.8B
Enterprise value	5.8B	5.2B	—	—	2.1B	3.2B	3.7B	—	—	2.6B	2.2B
Shares outstanding	115.7M	120.6M	140.6M	154.7M	157.9M	161.2M	163.5M	235.1M	158.1M	153.9M	153.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	102.2	—	—	—	2.57	3.2	—	—	—	25
P/S	8.03	5.79	—	—	0.82	1.32	1.13	—	—	0.68	0.96
P/B	4.49	4.13	—	—	1.1	1.43	1.24	—	—	0.58	1.13
EV/EBITDA	19.8	12.8	—	—	7.71	3.62	2.17	—	—	2.82	3.01
EV/Sales	9.53	6.92	—	—	2.42	2.09	1.43	—	—	1.36	1.65
Earnings yield	—	0.98%	—	—	—	38.9%	31.2%	—	—	—	3.99%
FCF yield	2.38%	3.86%	—	—	13%	15.6%	30%	—	—	24.1%	35%
PEG	—	—	—	—	—	—	—	—	—	—	-0.16

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	34%	48.5%	54.6%	44.5%	34.7%	59.4%	69.7%	50.8%	54%	53.3%	61.2%
Operating margin	-12.2%	9.47%	21.7%	9.56%	-15.4%	31.2%	50.1%	14.3%	12%	8.89%	49.3%
Net margin	-18.1%	5.67%	16.2%	1.72%	-121.6%	51.6%	35.3%	-10.8%	-2.25%	-34.7%	-24.3%
ROE	-10.1%	4.04%	9.64%	1.34%	-164%	55.6%	38.6%	-7.84%	-1.66%	-29.4%	-18.5%
ROA	-3.92%	1.57%	4.33%	0.56%	-36.9%	19.5%	18.8%	-3.81%	-0.76%	-12.2%	2.26%
ROIC	-3.73%	1.87%	5.94%	0.96%	-6.54%	15.3%	26.4%	8.19%	6.74%	4.79%	7.67%
Return on tangible assets	-3.92%	1.57%	4.33%	0.56%	-36.9%	19.5%	18.8%	-3.81%	-0.76%	-12.2%	-8.13%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.78	0.72	0.76	0.84	0.6	0.63	0.8	1.18	0.95	0.84	1
Quick ratio	0.73	0.67	0.71	0.76	0.57	0.61	0.78	1.1	0.89	0.76	0.9
Debt / equity	0.88	0.83	0.68	0.82	2.17	0.83	0.33	0.31	0.36	0.58	0.63
Debt / assets	0.34	0.32	0.3	0.34	0.49	0.29	0.16	0.15	0.17	0.24	0.25
Net debt / EBITDA	3.11	2.08	1.93	2.3	5.11	1.33	0.46	0.78	0.96	1.41	1.53
Interest coverage	-2.92	3.17	5.87	2.73	-24	19.9	25.8	-2.27	0.92	-1.45	-3.31
Effective tax rate	0%	50%	23.4%	76.8%	0%	16.9%	36%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.25	6.27	8.21	8.5	5.44	9.51	15.7	9.35	13.1	12.2	12
EPS (basic)	-1.38	0.52	1.93	0.21	-9.61	7.13	8.03	-1.45	-0.3	-4.25	-4.25
EPS (diluted)	-1.38	0.51	1.91	0.21	-9.61	6.97	7.8	-1.45	-0.3	-4.25	-2.06
Book value per share	9.39	8.8	13.8	10.9	4.03	8.82	14.3	12.9	17.8	14.4	10.2
FCF per share	1	1.4	1.46	1.34	0.58	1.96	5.31	1.85	2.1	2.01	9.14
Cash per share	0.37	0.27	0.13	0.13	0.03	0.03	0.06	0.6	0.83	0.12	0.54
Capex per share	2.03	1.99	2.54	2.33	1.6	1.6	2.32	2.51	4.02	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	38.6%	31.7%	30.9%	27.4%	29.4%	16.8%	14.8%	26.8%	30.6%	—	—
Capex / operating cash flow	98.1%	52.4%	59.6%	62.1%	-29.5%	19.2%	24.6%	-650.9%	99.5%	—	—
Payout ratio	-65.4%	321.4%	121.6%	1.2K%	-7.76%	0%	2.49%	-26.1%	-156.3%	-15.1%	76.1%
Dividend yield	1.48%	3.14%	—	—	11.5%	0%	0.78%	—	—	7.67%	3.42%

Yield

3.42%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.097

ex-dividend Sep 15, 2026

Payout ratio

76%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.097
Jun 15, 2026	$0.097
Mar 13, 2026	$0.099

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$362.4M	$561.4M	$392.1M	$507.6M	$359.4M	$515.7M	$585.1M	$472.3M	$464.5M	$462.5M	$519.1M	$563.1M
YoY change	-49.7%	-8.61%	-5.3%	+44.8%	-0.83%	-8.14%	+49.2%	-6.95%	+29.2%	-10.3%	-11.3%	+19.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	43.2M	32M	18.4M	20M	4.8M	4.1M	9.5M	141.5M	131.7M	19.1M
Receivables	90.6M	114M	179.1M	145.5M	134.9M	226.1M	257.1M	242.9M	298.5M	261.5M
Inventory	10M	11.8M	19.1M	20.2M	9.2M	13.8M	13.5M	57.3M	40.7M	46.6M
Total current assets	155.4M	180.2M	295.8M	239.2M	179.6M	325.3M	491.6M	823.5M	582.3M	467.3M
Property, plant & equipment	6.9B	2.5B	3.9B	3.6B	2.3B	3.5B	4.1B	5.1B	5.2B	4.8B
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	2.8B	2.7B	4.3B	4B	2.8B	4.1B	4.8B	6.2B	6.1B	5.3B
Accounts payable	124.9M	150.7M	309.4M	215M	204.8M	303.2M	331.2M	380.4M	425.4M	470.8M
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	200.1M	250M	387.5M	286.4M	298M	513.8M	613.7M	696.1M	610.6M	554.5M
Long-term debt	950.7M	884.9M	1.3B	1.4B	1.4B	1.2B	779.4M	947M	1B	1.3B
Total liabilities	1.7B	1.7B	2.4B	2.3B	2.2B	2.6B	2.5B	3.2B	3.3B	3.1B
Shareholders' equity	1.1B	1.1B	1.9B	1.7B	636.7M	1.4B	2.3B	3B	2.8B	2.2B
Total debt	950.7M	884.9M	1.3B	1.4B	1.4B	1.2B	779.4M	947M	1B	1.3B
Net debt	907.5M	852.9M	1.3B	1.4B	1.4B	1.2B	769.9M	805.6M	886.7M	1.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	0	141.5M	182.7M	267.7M	136M	131.7M	23.5M	69.2M	46.1M	19.1M	16.4M	81.8M
Receivables	207.6M	242.9M	262M	258.5M	195.4M	298.5M	306M	279.5M	188.1M	261.5M	268.3M	284.9M
Inventory	18.5M	57.3M	23.3M	45.4M	20.8M	40.7M	48.6M	62.9M	45.3M	46.6M	39.1M	56.6M
Total current assets	452.2M	823.5M	636M	740.9M	463.9M	582.3M	509.7M	1.2B	394.6M	467.3M	484.8M	572.1M
Property, plant & equipment	—	5.1B	149.6M	—	—	5.2B	373.9M	322.4M	326.1M	4.8B	258.2M	259.4M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	4.9B	6.2B	4.5B	6.2B	4.3B	6.1B	7.1B	6.7B	6B	5.3B	5.5B	5.5B
Accounts payable	253.7M	380.4M	291.5M	361.2M	245.4M	425.4M	544.4M	403.5M	412.7M	470.8M	435.1M	411.8M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	504.6M	696.1M	550.5M	679.5M	371.6M	610.6M	718.1M	603.5M	489.4M	554.5M	765.1M	572.6M
Long-term debt	690.3M	947M	690.6M	1B	730.3M	1B	1.9B	2B	1.3B	1.3B	1.3B	1.4B
Total liabilities	2.3B	3.2B	2.4B	3.4B	2.3B	3.3B	4.2B	4B	3.2B	3.1B	3.5B	3.3B
Shareholders' equity	2.7B	3B	2.1B	2.8B	2.1B	2.8B	2.9B	2.7B	2.7B	2.2B	2B	2.2B
Total debt	690.3M	947M	690.6M	1B	730.3M	1B	1.9B	2B	1.3B	1.3B	1.3B	1.4B
Net debt	690.3M	805.6M	507.8M	740.9M	594.3M	886.7M	1.9B	1.9B	1.3B	1.3B	1.3B	1.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-110.1M	42.8M	186.9M	22.6M	-1B	790.3M	903.4M	-237.6M	-46.7M	-653.6M
Depreciation & amortization	363.3M	338.3M	419M	464.5M	399.4M	393.3M	397.1M	712.6M	683.2M	743.4M
Stock-based compensation	47.6M	42.4M	41.8M	44.2M	29.5M	28.6M	30.5M	42.8M	15.6M	18.8M
Change in working capital	—	—	—	—	—	—	—	—	—	—
Operating cash flow	239.2M	456.8M	597.9M	579.6M	-857.6M	1.3B	1.5B	-90.7M	639.1M	943.7M
Capital expenditure	-234.6M	-239.5M	-356.5M	-359.9M	-252.6M	-257.9M	-379.7M	-590.2M	-635.7M	—
Investing cash flow	-243M	-239.2M	-508.5M	-425.7M	-276.2M	-323.2M	-728.8M	-576.4M	-634.9M	-603.8M
Dividends paid	-72.1M	-137.7M	-227.2M	-269.4M	-81M	0	-22.5M	-62.1M	-73M	-98.4M
Share repurchases	—	—	—	—	—	0	-49.3M	-94.8M	-140.7M	-35.7M
Financing cash flow	49M	-491.5M	-67.4M	-139.7M	-67.7M	-484.9M	-514.9M	-320.3M	-344.1M	180.9M
Net change in cash	45.2M	-273.9M	22M	14.2M	-1.2B	532.2M	301.4M	-987.4M	-339.8M	520.7M
Free cash flow	116M	169.1M	204.9M	206.6M	91.5M	316.3M	868.6M	434.3M	332M	308.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	39.4M	-803.1M	1.7M	-82.4M	36.8M	-18.3M	15M	-233.5M	2.6M	-437.7M	-145.5M	134.2M
Depreciation & amortization	104M	259M	128M	161.2M	128.3M	163.5M	176.4M	184.2M	174M	208.8M	169.3M	165.8M
Stock-based compensation	4.4M	7.9M	4M	-3.9M	4.6M	7.5M	5.9M	1.3M	5.9M	5.7M	2.5M	-3M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	123.4M	-652.5M	155M	102.2M	176.1M	73.6M	197.1M	-56.1M	389.5M	133.4M	227.4M	170.8M
Capital expenditure	-2.2M	-632.7M	-136.6M	-110.6M	-1.2M	-628.2M	-182.1M	-115.5M	-145.6M	—	—	—
Investing cash flow	-30.8M	-635M	-130.1M	-153M	-17.5M	-577M	-1.3B	-199M	-157.4M	42.6M	-54.2M	-3.9M
Dividends paid	-11.3M	-16.4M	-11.6M	-19.2M	-13.5M	-18.6M	-18.5M	-20M	-20M	-39.8M	-20.6M	-20.7M
Share repurchases	-8M	-28.7M	-26.1M	-46.6M	-28.6M	-17.6M	-16.6M	-6.3M	-6.3M	-6.5M	-4.7M	-5.5M
Financing cash flow	502.9K	-81.7M	-43.6M	-99.5M	-46.9M	-118M	866M	104.2M	-1.2B	-50.8M	-41.4M	8.2M
Net change in cash	93.1M	-1.4B	-18.7M	-150.3M	111.7M	-621.4M	-192.7M	-150.9M	-941.8M	125.1M	131.8M	175M
Free cash flow	-7.2M	340.6M	117.6M	155.7M	8.3M	6.7M	98.3M	25M	242.8M	1B	92.8M	61.2M

Vermilion Energy Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement