Cardinal Energy Management
Management criteria checks 3/4
Cardinal Energy's CEO is M. Ratushny, appointed in Jul 2012, has a tenure of 15.17 years. total yearly compensation is CA$2.86M, comprised of 8.9% salary and 91.1% bonuses, including company stock and options. directly owns 2.52% of the company’s shares, worth CA$48.82M. The average tenure of the management team and the board of directors is 8.6 years and 7 years respectively.
Key information
M. Ratushny
Chief executive officer
CA$2.9m
Total compensation
| CEO salary percentage | 8.90% |
| CEO tenure | 14yrs |
| CEO ownership | 2.5% |
| Management average tenure | 8.6yrs |
| Board average tenure | 7yrs |
Recent management updates
Recent updates
NACHO - OIL OUTLOOK UPDATE
May 17th 2026: “Not A Chance Hormuz Opens” Iran 'leadership' wants war, always has... Oil price forecast with Global SPR rebuilds into 2028 should support oil prices above $70USD WTI beyond Redford 2 commissioning date.Cardinal Energy's (TSE:CJ) Soft Earnings Don't Show The Whole Picture
Shareholders appeared unconcerned with Cardinal Energy Ltd.'s ( TSE:CJ ) lackluster earnings report last week. We think...Cardinal Energy (TSE:CJ) Will Pay A Dividend Of CA$0.06
The board of Cardinal Energy Ltd. ( TSE:CJ ) has announced that it will pay a dividend on the 17th of February, with...Cardinal Energy (TSE:CJ) Has Affirmed Its Dividend Of CA$0.06
The board of Cardinal Energy Ltd. ( TSE:CJ ) has announced that it will pay a dividend of CA$0.06 per share on the 15th...Cardinal Energy (TSE:CJ) Has Announced A Dividend Of CA$0.06
Cardinal Energy Ltd.'s ( TSE:CJ ) investors are due to receive a payment of CA$0.06 per share on 15th of December. This...Cardinal Energy's (TSE:CJ) Dividend Will Be CA$0.06
Cardinal Energy Ltd. ( TSE:CJ ) has announced that it will pay a dividend of CA$0.06 per share on the 17th of November...Cardinal Energy Ltd.'s (TSE:CJ) Share Price Is Matching Sentiment Around Its Earnings
Cardinal Energy Ltd.'s ( TSE:CJ ) price-to-earnings (or "P/E") ratio of 14.1x might make it look like a buy right now...Cardinal Energy (TSE:CJ) Is Paying Out A Dividend Of CA$0.06
Cardinal Energy Ltd. ( TSE:CJ ) will pay a dividend of CA$0.06 on the 15th of October. Based on this payment, the...Cardinal Energy (TSE:CJ) Is Due To Pay A Dividend Of CA$0.06
The board of Cardinal Energy Ltd. ( TSE:CJ ) has announced that it will pay a dividend of CA$0.06 per share on the 15th...Cardinal Energy's (TSE:CJ) Dividend Will Be CA$0.06
The board of Cardinal Energy Ltd. ( TSE:CJ ) has announced that it will pay a dividend on the 15th of August, with...The Return Trends At Cardinal Energy (TSE:CJ) Look Promising
If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see...Improved Earnings Required Before Cardinal Energy Ltd. (TSE:CJ) Shares Find Their Feet
When close to half the companies in Canada have price-to-earnings ratios (or "P/E's") above 15x, you may consider...Returns On Capital Are Showing Encouraging Signs At Cardinal Energy (TSE:CJ)
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things...We Think Cardinal Energy Ltd.'s (TSE:CJ) CEO Compensation Looks Fair
Key Insights Cardinal Energy's Annual General Meeting to take place on 10th of May Salary of CA$350.0k is part of CEO...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | CA$10m |
| Dec 31 2025 | CA$3m | CA$255k | CA$21m |
| Sep 30 2025 | n/a | n/a | CA$77m |
| Jun 30 2025 | n/a | n/a | CA$88m |
| Mar 31 2025 | n/a | n/a | CA$113m |
| Dec 31 2024 | CA$2m | CA$275k | CA$108m |
| Sep 30 2024 | n/a | n/a | CA$103m |
| Jun 30 2024 | n/a | n/a | CA$117m |
| Mar 31 2024 | n/a | n/a | CA$104m |
| Dec 31 2023 | CA$3m | CA$350k | CA$104m |
| Sep 30 2023 | n/a | n/a | CA$197m |
| Jun 30 2023 | n/a | n/a | CA$191m |
| Mar 31 2023 | n/a | n/a | CA$262m |
| Dec 31 2022 | CA$2m | CA$333k | CA$303m |
| Sep 30 2022 | n/a | n/a | CA$228m |
| Jun 30 2022 | n/a | n/a | CA$457m |
| Mar 31 2022 | n/a | n/a | CA$368m |
| Dec 31 2021 | CA$2m | CA$317k | CA$284m |
| Sep 30 2021 | n/a | n/a | CA$365m |
| Jun 30 2021 | n/a | n/a | CA$98m |
| Mar 31 2021 | n/a | n/a | CA$62m |
| Dec 31 2020 | CA$440k | CA$293k | -CA$363m |
| Sep 30 2020 | n/a | n/a | -CA$498m |
| Jun 30 2020 | n/a | n/a | -CA$493m |
| Mar 31 2020 | n/a | n/a | -CA$469m |
| Dec 31 2019 | CA$2m | CA$304k | -CA$34m |
Compensation vs Market: M.'s total compensation ($USD2.03M) is about average for companies of similar size in the Canadian market ($USD2.34M).
Compensation vs Earnings: M.'s compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
CEO
M. Ratushny (61 yo)
Mr. M. Scott Ratushny has been the Chief Executive Officer of Cardinal Energy Ltd, since May 11, 2015 and served as its President since November 9, 2017 until February 2019. Mr. Ratushny served as the Chie...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman & CEO | 14yrs | CA$2.86m | 2.52% CA$ 48.8m | |
| President | less than a year | CA$1.40m | 0.39% CA$ 7.6m | |
| Chief Financial Officer | 8.5yrs | CA$1.57m | 0.42% CA$ 8.1m | |
| Senior Vice President of Exploration | 8.7yrs | CA$1.40m | 0.45% CA$ 8.7m | |
| Vice President of Thermal Operations | no data | CA$776.96k | 0.042% CA$ 807.7k | |
| Corporate Secretary | no data | no data | no data |
Experienced Management: CJ's management team is seasoned and experienced (8.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman & CEO | 15.2yrs | CA$2.86m | 2.52% CA$ 48.8m | |
| Independent Director | 14yrs | CA$207.81k | 2.64% CA$ 51.3m | |
| Independent Director | 2.7yrs | CA$206.46k | 0.33% CA$ 6.4m | |
| Lead Independent Director | 8.9yrs | CA$207.81k | 0.21% CA$ 4.0m | |
| Independent Director | 5.2yrs | CA$207.81k | 0.060% CA$ 1.2m | |
| Director | 1.2yrs | CA$190.86k | 0.24% CA$ 4.6m |
Experienced Board: CJ's board of directors are considered experienced (7 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/22 03:36 |
| End of Day Share Price | 2026/07/22 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Cardinal Energy Ltd. is covered by 21 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Laique Ahmad Amir Arif | ATB Cormark |
| Patrick O'Rourke | ATB Cormark |
| Garett Ursu | ATB Cormark Historical (Cormark Securities) |