Spartan Delta Corp.

TSX:SDE Stock Report

Market Cap: CA$2.5b

Spartan Delta Valuation

Is SDE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of SDE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: SDE (CA$12.47) is trading below our estimate of future cash flow value (CA$16.02)

Significantly Below Future Cash Flow Value: SDE is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SDE?

Key metric: As SDE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SDE. This is calculated by dividing SDE's market cap by their current earnings.
What is SDE's PE Ratio?
PE Ratio41.5x
EarningsCA$61.55m
Market CapCA$2.51b

Price to Earnings Ratio vs Peers

How does SDE's PE Ratio compare to its peers?

The above table shows the PE ratio for SDE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39x
PXT Parex Resources
10.4x34.63%CA$2.6b
BIR Birchcliff Energy
27.3xn/aCA$1.9b
FRU Freehold Royalties
32xn/aCA$2.9b
POU Paramount Resources
86.3x53.41%CA$4.5b
SDE Spartan Delta
41.5xn/aCA$2.5b

Price-To-Earnings vs Peers: SDE is expensive based on its Price-To-Earnings Ratio (41.5x) compared to the peer average (-2.1x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does SDE's PE Ratio compare vs other companies in the CA Oil and Gas Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CNE Canacol Energy
1xn/aUS$38.14m
ALPS.U Alpine Summit Energy Partners
1xn/aUS$24.02m
GCOM Green Shift Commodities
0.6xn/aUS$6.94m
KUB.H Carcetti Capital
0.7xn/aUS$5.82m
SDE 41.5xIndustry Avg. 26.1xNo. of Companies13PE01224364860+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SDE is expensive based on its Price-To-Earnings Ratio (41.5x) compared to the Canadian Oil and Gas industry average (26.4x).

Price to Earnings Ratio vs Fair Ratio

What is SDE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SDE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio41.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SDE's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SDE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$12.47
CA$15.94
+27.86%
3.75%CA$17.00CA$15.00n/a9
May ’27CA$13.60
CA$14.53
+6.82%
5.99%CA$16.00CA$13.25n/a9
Apr ’27CA$12.11
CA$12.67
+4.60%
12.17%CA$15.50CA$11.00n/a9
Mar ’27CA$10.95
CA$11.65
+6.39%
4.62%CA$12.50CA$11.00n/a10
Feb ’27CA$9.16
CA$9.83
+7.26%
6.64%CA$11.00CA$9.00n/a10
Jan ’27CA$7.25
CA$8.05
+11.03%
8.54%CA$9.00CA$7.00n/a10
Dec ’26CA$7.60
CA$7.75
+1.97%
7.21%CA$9.00CA$7.00n/a10
Nov ’26CA$6.28
CA$7.00
+11.46%
12.37%CA$9.00CA$6.00n/a10
Oct ’26CA$5.47
CA$6.20
+13.35%
11.09%CA$7.50CA$5.50n/a10
Sep ’26CA$4.88
CA$6.00
+22.95%
11.93%CA$7.50CA$5.00n/a10
Aug ’26CA$4.57
CA$5.86
+28.31%
14.47%CA$7.50CA$4.50n/a11
Jul ’26CA$3.81
CA$5.20
+36.60%
18.86%CA$7.00CA$4.25n/a11
Jun ’26CA$3.08
CA$5.23
+69.72%
18.41%CA$7.00CA$4.50CA$11.9111
May ’26CA$2.67
CA$5.32
+99.18%
17.48%CA$7.00CA$4.25CA$13.6011
Apr ’26CA$3.42
CA$5.89
+72.12%
20.20%CA$8.00CA$4.50CA$12.1111
Mar ’26CA$3.25
CA$6.05
+86.15%
18.74%CA$8.00CA$4.75CA$10.9510
Feb ’26CA$3.80
CA$6.05
+59.21%
18.74%CA$8.00CA$4.75CA$9.1610
Jan ’26CA$3.45
CA$5.61
+62.71%
18.74%CA$8.00CA$4.25CA$7.2511
Dec ’25CA$3.54
CA$5.73
+61.79%
16.80%CA$8.00CA$4.50CA$7.6011
Nov ’25CA$3.42
CA$5.70
+66.80%
17.21%CA$8.00CA$4.50CA$6.2811
Oct ’25CA$3.84
CA$5.77
+50.33%
15.83%CA$8.00CA$5.00CA$5.4711
Sep ’25CA$3.95
CA$5.82
+47.30%
15.66%CA$8.00CA$5.00CA$4.8811
Aug ’25CA$3.98
CA$5.80
+45.61%
16.12%CA$8.00CA$4.75CA$4.5711
Jul ’25CA$4.03
CA$5.70
+41.55%
15.50%CA$8.00CA$4.50CA$3.8111
Jun ’25CA$4.29
CA$5.73
+33.55%
14.85%CA$8.00CA$4.50CA$3.0812
CA$15.94
Fair Value
21.8% undervalued intrinsic discount
9
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/03 12:09
End of Day Share Price 2026/06/03 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

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

Spartan Delta Corp. is covered by 16 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Patrick O'RourkeATB Cormark
Jeremy McCreaBMO Capital Markets Equity Research
Randy OllenbergerBMO Capital Markets Equity Research