1.Sales and profit
See section β- Obsidian Energy Ltd. had $409M of revenue in fiscal 2025, down 26.0% on the year before. Over five years, revenue changed +12.1% a year on average.
- Obsidian Energy Ltd. made $25.2M of net profit in fiscal 2025.
Obsidian Energy Ltd.
OBE NYSE Crude Petroleum & Natural Gas Financials FY2016βFY2025
Obsidian Energy Ltd. had $409M of revenue in fiscal 2025, down 26.0% on the year before. Over five years, revenue changed +12.1% a year on average.
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3-page PDF: the company, its results and charts with peers.
Last close Β· Oct 23, 2026
$12.04
4.1%KIRAβs summary AI analyst
Hi! I read Obsidian Energy Ltd.βs latest annual report (fiscal 2025). Here is what stands out:
1 strength 2 to watch
2.Cash and shareholders
See section β- Free cash flow was β$42.3M in fiscal 2025, β10.3% of revenue.
- Obsidian Energy Ltd. returned $39.3M to shareholders in fiscal 2025. The diluted share count fell 5.5%.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- Obsidian Energy Ltd. passes 6 of 8 financial health tests (Piotroski F-score).
Obsidian Energy Ltd. in 30 seconds
Good So-so Weak
Weak
Are sales growing?
β26.0%
No. Sales fell 26.0% last year.
So-so
Does it make a profit?
6.2%
A little. It keeps 6.2% of every sale as profit.
Weak
Does profit turn into cash?
β10.3%
No. It spent more cash than it brought in.
So-so
How healthy are the accounts?
6 / 8
Mixed. It passes 6 of 8 health tests.
For information
How is the share priced?
34.4x
One share costs 34.4 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$864M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
34.4x
On $0.35 EPS (TTM)
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Obsidian Energy Ltd. did it, and the next one. Share prices often move a lot on those days.
Next results
November 5, 2026
Thursday Β· in 11 days
- Time
- Before the market opens
- Covers
- Period ended Sep 30, 2026
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Feb 19, 2026 | Period ended Dec 31, 2025 | During market hours | 40-F β |
| Feb 25, 2025 | Period ended Dec 31, 2024 | During market hours | 40-F β |
| Feb 22, 2024 | Period ended Dec 31, 2023 | During market hours | 40-F β |
| Feb 23, 2023 | Period ended Dec 31, 2022 | After the market closes | 40-F β |
| Feb 24, 2022 | Period ended Dec 31, 2021 | During market hours | 40-F β |
| Mar 29, 2021 | Period ended Dec 31, 2020 | During market hours | 40-F β |
| Mar 30, 2020 | Period ended Dec 31, 2019 | After the market closes | 40-F β |
| Mar 7, 2019 | Period ended Dec 31, 2018 | During market hours | 40-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
KIRA Β· Obsidian Energy Ltd. had $409M of revenue in fiscal 2025, down 26.0% on the year before. Over five years, revenue changed +12.1% a year on average.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY16
Revenue $434M
FY17
Revenue $342M
FY18
Revenue $295M
FY19
Revenue $288M
FY20
Revenue $231M
FY21
Revenue $360M
FY22
Revenue $592M
FY23
Revenue $507M
FY24
Revenue $552M
FY25
Revenue $409M
Margins, % of revenue
FY16
Gross β
Operating β
Net β121.0%
FCF β38.1%
FY17
Gross β
Operating β
Net β18.9%
FCF β3.6%
FY18
Gross β
Operating β
Net β79.8%
FCF β18.1%
FY19
Gross β
Operating β
Net β206.4%
FCF β6.9%
FY20
Gross β
Operating β
Net β249.2%
FCF 7.2%
FY21
Gross β
Operating β
Net 91.7%
FCF 12.8%
FY22
Gross β
Operating β
Net 105.1%
FCF 18.4%
FY23
Gross β
Operating β
Net 15.8%
FCF 8.8%
FY24
Gross β
Operating β
Net β26.8%
FCF 2.5%
FY25
Gross β
Operating β
Net 6.2%
FCF β10.3%
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Obsidian Energy Ltd. made $25.2M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY16
Net income β$525M
FY17
Net income β$64.7M
FY18
Net income β$235M
FY19
Net income β$594M
FY20
Net income β$575M
FY21
Net income $330M
FY22
Net income $622M
FY23
Net income $80.0M
FY24
Net income β$148M
FY25
Net income $25.2M
Diluted EPS
FY16
Diluted EPS β$1.05
FY17
Diluted EPS β$0.13
FY18
Diluted EPS β$3.26
FY19
Diluted EPS β$8.15
FY20
Diluted EPS β$7.85
FY21
Diluted EPS $4.26
FY22
Diluted EPS $7.37
FY23
Diluted EPS $0.95
FY24
Diluted EPS β$1.95
FY25
Diluted EPS $0.35
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was β$42.3M in fiscal 2025, β10.3% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY16
Free cash flow β$165M
FY17
Free cash flow β$12.3M
FY18
Free cash flow β$53.2M
FY19
Free cash flow β$19.9M
FY20
Free cash flow $16.6M
FY21
Free cash flow $46.1M
FY22
Free cash flow $109M
FY23
Free cash flow $44.6M
FY24
Free cash flow $13.7M
FY25
Free cash flow β$42.3M
Cash from operations vs capital spending
FY16
Cash from operations β$103M
Capital spending $61.9M
FY17
Cash from operations $96.3M
Capital spending $109M
FY18
Cash from operations $76.4M
Capital spending $130M
FY19
Cash from operations $57.9M
Capital spending $77.8M
FY20
Cash from operations $59.2M
Capital spending $42.6M
FY21
Cash from operations $159M
Capital spending $112M
FY22
Cash from operations $351M
Capital spending $242M
FY23
Cash from operations $261M
Capital spending $217M
FY24
Cash from operations $264M
Capital spending $250M
FY25
Cash from operations $172M
Capital spending $214M
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA Β· Obsidian Energy Ltd. returned $39.3M to shareholders in fiscal 2025. The diluted share count fell 5.5%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY16
Dividends β
Buybacks β
FY17
Dividends β
Buybacks β
FY18
Dividends β
Buybacks β
FY19
Dividends β
Buybacks β
FY20
Dividends β
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks $0.0M
FY23
Dividends β
Buybacks $35.1M
FY24
Dividends β
Buybacks $30.4M
FY25
Dividends β
Buybacks $39.3M
Dividends
Buybacks
Diluted shares outstanding (annual)
FY16
Diluted shares 0.50B
FY17
Diluted shares 0.50B
FY18
Diluted shares 0.07B
FY19
Diluted shares 0.07B
FY20
Diluted shares 0.07B
FY21
Diluted shares 0.08B
FY22
Diluted shares 0.08B
FY23
Diluted shares 0.08B
FY24
Diluted shares 0.08B
FY25
Diluted shares 0.07B
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably Obsidian Energy Ltd. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY16
Cash $8.2M
Debt $348M
FY17
Cash $1.6M
Debt $286M
FY18
Cash $0.3M
Debt $307M
FY19
Cash $2.3M
Debt $354M
FY20
Cash $6.4M
Debt $355M
FY21
Cash $5.7M
Debt $309M
FY22
Cash $0.6M
Debt $172M
FY23
Cash $0.4M
Debt $170M
FY24
Cash β
Debt $236M
FY25
Cash β
Debt $134M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $5.7M | $0.6M | $0.4M | β | β |
| Debt incl. finance leases | $309M | $172M | $170M | $236M | $134M |
| Debt / equity | 0.5x | 0.1x | 0.1x | 0.2x | 0.1x |
| Current ratio | 0.2x | 0.5x | 0.4x | 1.8x | 0.5x |
| Quick ratio | 0.2x | 0.5x | 0.4x | 1.8x | 0.5x |
| Total assets | $1.1B | $1.6B | $1.7B | $1.5B | $1.4B |
| Total liabilities | $524M | $461M | $458M | $493M | $338M |
| Shareholders' equity | $601M | $1.2B | $1.2B | $977M | $1.0B |
| Net debt (β = net cash) | $303M | $171M | $169M | β | β |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY16
Return on capital β
Return on equity β31.5%
Return on assets β21.2%
FY17
Return on capital β
Return on equity β3.8%
Return on assets β2.7%
FY18
Return on capital β
Return on equity β15.2%
Return on assets β10.8%
FY19
Return on capital β
Return on equity β53.6%
Return on assets β34.8%
FY20
Return on capital β
Return on equity β105.1%
Return on assets β51.8%
FY21
Return on capital β
Return on equity 77.3%
Return on assets 35.1%
FY22
Return on capital β
Return on equity 70.4%
Return on assets 45.2%
FY23
Return on capital β
Return on equity 6.6%
Return on assets 4.8%
FY24
Return on capital β
Return on equity β13.3%
Return on assets β9.3%
FY25
Return on capital β
Return on equity 2.5%
Return on assets 1.8%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· Obsidian Energy Ltd. passes 6 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 8 | 4 / 8 | 3 / 8 | 3 / 8 | 6 / 8 | 6 / 8 | 5 / 8 | 5 / 8 | 6 / 8 |
| Accruals ratio | β17.0% | β6.6% | β14.4% | β38.2% | β57.1% | 18.3% | 19.7% | β10.9% | β26.0% | β10.4% |
| Altman Z'' | β | β | β | β | β | β | β | β | β | β |
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $434M | $342M | $295M | $288M | $231M | $360M | $592M | $507M | $552M | $409M |
| Interest expense | $86.0M | $17.7M | $16.2M | $30.6M | $27.7M | $36.2M | $34.5M | $36.5M | $38.1M | $30.1M |
| Pretax income | β$715M | β$74.7M | β$235M | β$594M | β$575M | $330M | $433M | $106M | β$194M | $33.6M |
| Income tax | β$193M | β$20.0M | β | β | β | β | β | β | β | β |
| Net income | β$525M | β$64.7M | β$235M | β$594M | β$575M | $330M | $622M | $80.0M | β$148M | $25.2M |
| Diluted EPS | β$1.05 | β$0.13 | β$3.26 | β$8.15 | β$7.85 | $4.26 | $7.37 | $0.95 | β$1.95 | $0.35 |
| Diluted shares | 0.50B | 0.50B | 0.07B | 0.07B | 0.07B | 0.08B | 0.08B | 0.08B | 0.08B | 0.07B |
| Cash flow | ||||||||||
| Cash from operations | β$103M | $96.3M | $76.4M | $57.9M | $59.2M | $159M | $351M | $261M | $264M | $172M |
| Capital expenditure | $61.9M | $109M | $130M | $77.8M | $42.6M | $112M | $242M | $217M | $250M | $214M |
| Free cash flow | β$165M | β$12.3M | β$53.2M | β$19.9M | $16.6M | $46.1M | $109M | $44.6M | $13.7M | β$42.3M |
| Stock-based compensation | $5.3M | $6.2M | $5.4M | $3.4M | $1.6M | $1.8M | $3.6M | $5.9M | $6.0M | $5.9M |
| Acquisitions | β | β | β | β | β | $26.9M | $0.0M | β | β | β |
| Share buybacks | β | β | β | β | β | β | $0.0M | $35.1M | $30.4M | $39.3M |
| Dividends and buybacks | β | β | β | β | β | β | $0.0M | $35.1M | $30.4M | $39.3M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $8.2M | $1.6M | $0.3M | $2.3M | $6.4M | $5.7M | $0.6M | $0.4M | β | β |
| Total debt | $348M | $286M | $307M | $354M | $355M | $309M | $172M | $170M | $236M | $134M |
| Current assets | $253M | $151M | $55.8M | $130M | $46.2M | $68.5M | $74.1M | $71.4M | $342M | $65.8M |
| Current liabilities | $256M | $228M | $139M | $465M | $430M | $417M | $165M | $174M | $191M | $122M |
| Property and equipment, net | $2.2B | $2.2B | $1.9B | $1.3B | $711M | $1.1B | $1.4B | $1.5B | $938M | $1.1B |
| Total assets | $2.5B | $2.4B | $1.9B | $1.5B | $757M | $1.1B | $1.6B | $1.7B | $1.5B | $1.4B |
| Total liabilities | $811M | $671M | $574M | $625M | $503M | $524M | $461M | $458M | $493M | $338M |
| Shareholders' equity | $1.7B | $1.7B | $1.4B | $841M | $254M | $601M | $1.2B | $1.2B | $977M | $1.0B |
| Margins | ||||||||||
| Net margin | β121.0% | β18.9% | β79.8% | β206.4% | β249.2% | 91.7% | 105.1% | 15.8% | β26.8% | 6.2% |
| FCF margin | β38.1% | β3.6% | β18.1% | β6.9% | 7.2% | 12.8% | 18.4% | 8.8% | 2.5% | β10.3% |
| Returns | ||||||||||
| Return on equity | β31.5% | β3.8% | β15.2% | β53.6% | β105.1% | 77.3% | 70.4% | 6.6% | β13.3% | 2.5% |
| Return on assets | β21.2% | β2.7% | β10.8% | β34.8% | β51.8% | 35.1% | 45.2% | 4.8% | β9.3% | 1.8% |
| Return on tangible equity | β31.5% | β3.7% | β17.1% | β70.6% | β226.9% | 55.0% | 53.3% | 6.5% | β15.1% | 2.5% |
| Growth | ||||||||||
| Revenue growth | β | β21.2% | β13.8% | β2.3% | β19.8% | 55.9% | 64.5% | β14.4% | 8.9% | β26.0% |
| Net income growth | β | β | β | β | β | β | 88.4% | β87.1% | β284.8% | β |
| EPS growth | β | β | β | β | β | β | 73.1% | β87.1% | β305.5% | β |
| FCF growth | β | β | β | β | β | 178.6% | 136.6% | β59.1% | β69.2% | β408.0% |
| Share count change | β | 0.3% | β85.7% | 0.8% | 0.5% | 5.9% | 8.8% | β0.4% | β9.6% | β5.5% |
| Financial health | ||||||||||
| Debt / equity | 0.2x | 0.2x | 0.2x | 0.4x | 1.4x | 0.5x | 0.1x | 0.1x | 0.2x | 0.1x |
| Current ratio | 1.0x | 0.7x | 0.4x | 0.3x | 0.1x | 0.2x | 0.5x | 0.4x | 1.8x | 0.5x |
| Quick ratio | 1.0x | 0.7x | 0.4x | 0.3x | 0.1x | 0.2x | 0.5x | 0.4x | 1.8x | 0.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 14.3% | 31.8% | 44.0% | 27.0% | 18.5% | 31.2% | 40.8% | 42.8% | 45.4% | 52.3% |
| Stock comp / revenue | 1.2% | 1.8% | 1.8% | 1.2% | 0.7% | 0.5% | 0.6% | 1.2% | 1.1% | 1.5% |
| Payouts / FCF | β | β | β | β | β | β | 0.0% | 78.7% | 221.8% | β |
| Quality scores | ||||||||||
| Piotroski F-score | β | 4.0 | 4.0 | 3.0 | 3.0 | 6.0 | 6.0 | 5.0 | 5.0 | 6.0 |
| Accruals ratio | β17.0% | β6.6% | β14.4% | β38.2% | β57.1% | 18.3% | 19.7% | β10.9% | β26.0% | β10.4% |
Source: SEC EDGAR XBRL filings (CIK 0001334388). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CAD under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only β not investment advice. Check the original filings before relying on any figure.