Spartan Delta Corp.

TSX:SDE Stock Report

Market Cap: CA$543.4m

Spartan Delta Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair 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.

Below Fair Value: SDE (CA$3.13) is trading below our estimate of fair value (CA$15.17)

Significantly Below Fair Value: SDE is trading below fair 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 Ratio3.9x
EarningsCA$139.68m
Market CapCA$543.41m

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 Average8.7x
SNM ShaMaran Petroleum
3x23.7%CA$313.1m
OBE Obsidian Energy
4.6x15.4%CA$537.9m
FEC Frontera Energy
4.4xn/aCA$615.6m
LGN Logan Energy
22.9xn/aCA$368.5m
SDE Spartan Delta
3.9xn/aCA$543.4m

Price-To-Earnings vs Peers: SDE is good value based on its Price-To-Earnings Ratio (3.9x) compared to the peer average (5x).

Price to Earnings Ratio vs Industry

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

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HAM Highwood Asset Management
1.1x-41.1%US$57.10m
ALPS.U Alpine Summit Energy Partners
1xn/aUS$24.02m
KUB.H Carcetti Capital
0.7xn/aUS$5.82m
GCOM Green Shift Commodities
1.2xn/aUS$3.83m
SDE 3.9xIndustry Avg. 10.2xNo. of Companies11PE0612182430+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SDE is good value based on its Price-To-Earnings Ratio (3.9x) compared to the Canadian Oil and Gas industry average (10.2x).

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 Ratio3.9x
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$3.13
CA$5.61
+79.3%
18.7%CA$8.00CA$4.25n/a11
Dec ’25CA$3.54
CA$5.73
+61.8%
16.8%CA$8.00CA$4.50n/a11
Nov ’25CA$3.42
CA$5.70
+66.8%
17.2%CA$8.00CA$4.50n/a11
Oct ’25CA$3.84
CA$5.77
+50.3%
15.8%CA$8.00CA$5.00n/a11
Sep ’25CA$3.95
CA$5.82
+47.3%
15.7%CA$8.00CA$5.00n/a11
Aug ’25CA$3.98
CA$5.80
+45.6%
16.1%CA$8.00CA$4.75n/a11
Jul ’25CA$4.03
CA$5.70
+41.6%
15.5%CA$8.00CA$4.50n/a11
Jun ’25CA$4.29
CA$5.73
+33.5%
14.8%CA$8.00CA$4.50n/a12
May ’25CA$3.99
CA$5.08
+27.4%
15.1%CA$6.50CA$4.00n/a12
Apr ’25CA$3.86
CA$4.73
+22.5%
17.5%CA$6.50CA$3.25n/a11
Mar ’25CA$3.30
CA$4.77
+44.6%
20.9%CA$7.00CA$3.75n/a11
Feb ’25CA$3.06
CA$4.83
+58.0%
20.5%CA$7.00CA$3.25n/a12
Jan ’25CA$2.98
CA$5.71
+91.6%
18.4%CA$7.50CA$4.00n/a12
Dec ’24CA$3.13
CA$5.69
+81.9%
17.7%CA$7.50CA$4.00CA$3.5413
Nov ’24CA$4.39
CA$6.04
+37.6%
16.5%CA$7.50CA$4.00CA$3.4213
Oct ’24CA$4.05
CA$6.21
+53.4%
17.6%CA$8.25CA$4.00CA$3.8413
Sep ’24CA$4.40
CA$7.00
+59.0%
41.3%CA$16.70CA$4.00CA$3.9514
Aug ’24CA$4.31
CA$7.05
+63.6%
40.6%CA$16.70CA$4.00CA$3.9814
Jul ’24CA$4.75
CA$7.16
+50.7%
39.8%CA$16.70CA$4.00CA$4.0314
Jun ’24CA$14.79
CA$17.95
+21.4%
22.5%CA$27.00CA$6.50CA$4.2914
May ’24CA$15.19
CA$18.28
+20.4%
23.3%CA$27.00CA$6.50CA$3.9913
Apr ’24CA$14.10
CA$18.40
+30.5%
23.7%CA$27.00CA$6.50CA$3.8613
Mar ’24CA$12.57
CA$21.08
+67.7%
13.0%CA$27.00CA$17.50CA$3.3013
Feb ’24CA$13.34
CA$21.38
+60.3%
15.3%CA$30.00CA$17.50CA$3.0613
Jan ’24CA$14.95
CA$21.27
+42.3%
15.6%CA$30.00CA$17.00CA$2.9813
Dec ’23CA$15.50
CA$21.27
+37.2%
15.6%CA$30.00CA$17.00CA$3.1313

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 04:06
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

Spartan Delta Corp. is covered by 17 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 Capital Markets
Randy OllenbergerBMO Capital Markets Equity Research
Dennis FongCIBC Capital Markets