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Vermilion Energy

TSX:VET
Snowflake Description

Proven track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VET
TSX
CA$4B
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Vermilion Energy Inc. acquires, explores, develops, and produces petroleum and natural gas in Canada, France, the Netherlands, Germany, Ireland, Australia, the United States, and Central and Eastern Europe. The last earnings update was 52 days ago. More info.


Add to Portfolio Compare Print
  • Vermilion Energy has significant price volatility in the past 3 months.
VET Share Price and Events
7 Day Returns
-5.9%
TSX:VET
-0.7%
CA Oil and Gas
0.1%
CA Market
1 Year Returns
-39.8%
TSX:VET
-13.6%
CA Oil and Gas
-2.8%
CA Market
VET Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vermilion Energy (VET) -5.9% -13.6% -21.3% -39.8% -36.8% -65.6%
CA Oil and Gas -0.7% -5.9% -5.5% -13.6% -12.5% -40.3%
CA Market 0.1% -1.1% -0.4% -2.8% 11.5% 0.9%
1 Year Return vs Industry and Market
  • VET underperformed the Oil and Gas industry which returned -13.6% over the past year.
  • VET underperformed the Market in Canada which returned -2.8% over the past year.
Price Volatility
VET
Industry
5yr Volatility vs Market

Value

 Is Vermilion Energy undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Vermilion Energy to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Vermilion Energy.

TSX:VET Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.8%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:VET
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.908 (1 + (1- 26.5%) (47.55%))
1.151
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.151 * 5.96%)
8.81%

Discounted Cash Flow Calculation for TSX:VET using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Vermilion Energy is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:VET DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 8.81%)
2019 493.83 Analyst x6 453.86
2020 454.40 Analyst x5 383.81
2021 421.33 Analyst x3 327.07
2022 517.00 Analyst x1 368.84
2023 564.00 Analyst x1 369.80
2024 601.57 Est @ 6.66% 362.51
2025 633.14 Est @ 5.25% 350.64
2026 660.10 Est @ 4.26% 335.98
2027 683.62 Est @ 3.56% 319.78
2028 704.67 Est @ 3.08% 302.95
Present value of next 10 years cash flows CA$3,575.23
TSX:VET DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$704.67 × (1 + 1.95%) ÷ (8.81% – 1.95%)
CA$10,470.08
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$10,470.08 ÷ (1 + 8.81%)10
CA$4,501.18
TSX:VET Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$3,575.23 + CA$4,501.18
CA$8,076.40
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$8,076.40 / 154.90
CA$52.14
TSX:VET Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$52.14
Current discount Discount to share price of CA$26.78
= -1 x (CA$26.78 - CA$52.14) / CA$52.14
48.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Vermilion Energy is available for.
Intrinsic value
49%
Share price is CA$26.78 vs Future cash flow value of CA$52.14
Current Discount Checks
For Vermilion Energy to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vermilion Energy's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Vermilion Energy's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Vermilion Energy's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vermilion Energy's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:VET PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CAD CA$1.93
TSX:VET Share Price ** TSX (2019-06-14) in CAD CA$26.78
Canada Oil and Gas Industry PE Ratio Median Figure of 59 Publicly-Listed Oil and Gas Companies 12.33x
Canada Market PE Ratio Median Figure of 546 Publicly-Listed Companies 15.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Vermilion Energy.

TSX:VET PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:VET Share Price ÷ EPS (both in CAD)

= 26.78 ÷ 1.93

13.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vermilion Energy is overvalued based on earnings compared to the CA Oil and Gas industry average.
  • Vermilion Energy is good value based on earnings compared to the Canada market.
Price based on expected Growth
Does Vermilion Energy's expected growth come at a high price?
Raw Data
TSX:VET PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
-12.4%per year
Canada Oil and Gas Industry PEG Ratio Median Figure of 36 Publicly-Listed Oil and Gas Companies 0.79x
Canada Market PEG Ratio Median Figure of 247 Publicly-Listed Companies 1.15x

*Line of best fit is calculated by linear regression .

TSX:VET PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.86x ÷ -12.4%

-1.11x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vermilion Energy earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Vermilion Energy's assets?
Raw Data
TSX:VET PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CAD CA$17.87
TSX:VET Share Price * TSX (2019-06-14) in CAD CA$26.78
Canada Oil and Gas Industry PB Ratio Median Figure of 224 Publicly-Listed Oil and Gas Companies 0.76x
Canada Market PB Ratio Median Figure of 2,420 Publicly-Listed Companies 1.41x
TSX:VET PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:VET Share Price ÷ Book Value per Share (both in CAD)

= 26.78 ÷ 17.87

1.5x

* Primary Listing of Vermilion Energy.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vermilion Energy is overvalued based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess Vermilion Energy's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Vermilion Energy has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Vermilion Energy expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-12.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vermilion Energy expected to grow at an attractive rate?
  • Vermilion Energy's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Vermilion Energy's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • Vermilion Energy's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:VET Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:VET Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts -12.4%
TSX:VET Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 1.8%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 7.9%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Canada Market Earnings Growth Rate Market Cap Weighted Average 14.6%
Canada Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:VET Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:VET Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 1,079
2021-12-31 1,778 1,034 139 1
2020-12-31 1,911 1,072 212 7
2019-12-31 1,866 999 197 6
TSX:VET Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,698 846 286
2018-12-31 1,526 816 272
2018-09-30 1,407 790 -43
2018-06-30 1,184 622 -68
2018-03-31 1,074 596 42
2017-12-31 1,024 594 62
2017-09-30 975 603 50
2017-06-30 964 614 74
2017-03-31 910 608 -30
2016-12-31 829 510 -160
2016-09-30 802 514 -298
2016-06-30 810 485 -367

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vermilion Energy's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Vermilion Energy's revenue is expected to grow by 1.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:VET Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Vermilion Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:VET Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.97 1.06 0.88 2.00
2020-12-31 1.38 1.70 1.02 8.00
2019-12-31 1.28 1.51 1.06 8.00
TSX:VET Past Financials Data
Date (Data in CAD Millions) EPS *
2019-03-31 1.93
2018-12-31 1.93
2018-09-30 -0.33
2018-06-30 -0.54
2018-03-31 0.35
2017-12-31 0.52
2017-09-30 0.41
2017-06-30 0.63
2017-03-31 -0.25
2016-12-31 -1.38
2016-09-30 -2.61
2016-06-30 -3.26

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Vermilion Energy will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Vermilion Energy's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Vermilion Energy has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Vermilion Energy performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Vermilion Energy's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Vermilion Energy's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Vermilion Energy's 1-year earnings growth exceeds its 5-year average (574.7% vs -16.3%)
  • Vermilion Energy's earnings growth has exceeded the CA Oil and Gas industry average in the past year (574.7% vs 11.1%).
Earnings and Revenue History
Vermilion Energy's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Vermilion Energy Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:VET Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,697.91 286.46 117.10
2018-12-31 1,525.95 271.65 112.68
2018-09-30 1,406.69 -43.48 110.79
2018-06-30 1,183.57 -67.57 109.48
2018-03-31 1,074.24 42.46 115.54
2017-12-31 1,024.36 62.26 115.95
2017-09-30 975.45 49.58 114.88
2017-06-30 963.63 74.30 117.84
2017-03-31 910.48 -29.66 119.54
2016-12-31 828.51 -160.05 122.06
2016-09-30 801.65 -298.10 125.08
2016-06-30 809.91 -366.93 127.00
2016-03-31 857.63 -304.43 130.63
2015-12-31 873.67 -217.30 128.82
2015-09-30 935.74 -16.58 126.48
2015-06-30 1,023.48 120.63 127.60
2015-03-31 1,133.93 167.81 131.19
2014-12-31 1,311.63 269.33 129.53
2014-09-30 1,339.01 312.19 133.06
2014-06-30 1,331.78 326.09 126.89
2014-03-31 1,269.27 378.29 112.95
2013-12-31 1,205.90 327.64 110.76
2013-09-30 1,127.70 283.05 102.97
2013-06-30 1,091.72 246.05 99.53
2013-03-31 1,028.77 177.67 99.42
2012-12-31 1,031.02 190.62 90.88
2012-09-30 1,061.89 103.47 89.41
2012-06-30 1,024.29 137.11 87.02

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Vermilion Energy has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vermilion Energy used its assets more efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • Vermilion Energy has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Vermilion Energy's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Vermilion Energy has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Vermilion Energy's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Vermilion Energy's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vermilion Energy's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Vermilion Energy's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Vermilion Energy's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Vermilion Energy Company Filings, last reported 2 months ago.

TSX:VET Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,737.26 1,972.31 5.22
2018-12-31 2,817.25 1,929.34 26.81
2018-09-30 2,525.76 1,862.84 23.99
2018-06-30 2,650.53 1,638.23 39.10
2018-03-31 1,567.22 1,377.92 19.30
2017-12-31 1,542.89 1,291.71 46.56
2017-09-30 1,561.63 1,318.96 42.20
2017-06-30 1,647.73 1,280.81 15.72
2017-03-31 1,611.83 1,285.74 1.15
2016-12-31 1,578.46 1,381.82 62.78
2016-09-30 1,648.94 1,334.01 21.42
2016-06-30 1,633.36 1,371.97 5.20
2016-03-31 1,741.46 1,453.02 63.25
2015-12-31 1,858.66 1,411.46 41.68
2015-09-30 1,985.81 1,519.48 148.82
2015-06-30 1,977.08 1,450.24 98.04
2015-03-31 1,953.52 1,419.60 88.19
2014-12-31 2,021.35 1,238.08 120.41
2014-09-30 2,000.47 1,198.65 142.52
2014-06-30 2,016.47 1,198.87 165.50
2014-03-31 1,831.65 944.11 151.34
2013-12-31 1,716.38 990.02 389.56
2013-09-30 1,588.79 781.07 256.14
2013-06-30 1,535.24 780.47 235.60
2013-03-31 1,441.51 712.76 176.51
2012-12-31 1,418.65 642.02 102.13
2012-09-30 1,358.45 492.67 223.45
2012-06-30 1,370.65 452.27 157.47
  • Vermilion Energy's level of debt (67.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (51.6% vs 67.8% today).
  • Debt is well covered by operating cash flow (45.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.9x coverage).
X
Financial health checks
We assess Vermilion Energy's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Vermilion Energy has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Vermilion Energy's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
10.31%
Current annual income from Vermilion Energy dividends. Estimated to be 10.23% next year.
If you bought CA$2,000 of Vermilion Energy shares you are expected to receive CA$206 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Vermilion Energy's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.12%).
  • Vermilion Energy's dividend is above the markets top 25% of dividend payers in Canada (5.78%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:VET Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 4.7%
Canada Market Average Dividend Yield Market Cap Weighted Average of 335 Stocks 3.6%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:VET Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 2.76 1.00
2021-12-31 2.72 3.00
2020-12-31 2.75 13.00
2019-12-31 2.73 12.00
TSX:VET Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-05-15 2.760 9.548
2019-04-15 2.760 8.235
2019-03-15 2.760 8.196
2019-02-15 2.760 8.210
2019-01-15 2.760 8.645
2018-12-17 2.760 9.379
2018-11-15 2.760 8.626
2018-10-15 2.760 7.873
2018-09-17 2.760 6.574
2018-08-15 2.760 6.721
2018-07-16 2.760 6.162
2018-06-15 2.760 5.884
2018-05-15 2.760 6.080
2018-03-01 2.760 6.527
2018-02-15 2.580 6.070
2018-01-16 2.580 5.616
2017-12-15 2.580 5.603
2017-11-15 2.580 5.860
2017-10-16 2.580 5.773
2017-09-15 2.580 5.821
2017-07-17 2.580 6.386
2017-06-15 2.580 6.262
2017-05-12 2.580 5.816
2017-04-13 2.580 5.320
2017-03-10 2.580 5.234
2017-02-13 2.580 5.002
2017-01-13 2.580 4.783
2016-12-09 2.580 4.519
2016-11-10 2.580 4.753
2016-10-14 2.580 4.834
2016-09-12 2.580 5.235
2016-08-12 2.580 5.298
2016-07-11 2.580 5.905
2016-06-10 2.580 6.208
2016-05-13 2.580 5.935
2016-04-11 2.580 6.437
2016-03-11 2.580 6.768
2016-02-11 2.580 6.982
2016-01-11 2.580 7.460
2015-12-11 2.580 7.108
2015-11-12 2.580 6.680
2015-10-09 2.580 5.625
2015-09-11 2.580 5.974
2015-08-13 2.580 5.984
2015-07-10 2.580 5.668
2015-06-12 2.580 4.825
2015-05-11 2.580 4.763
2015-04-15 2.580 4.469
2015-03-16 2.580 4.712
2015-02-17 2.580 4.687
2015-01-15 2.580 4.655
2014-12-15 2.580 4.868
2014-11-17 2.580 4.916
2014-10-15 2.580 4.062
2014-09-15 2.580 3.972
2014-08-15 2.580 3.710
2014-07-15 2.580 3.664
2014-06-16 2.580 3.530
2014-05-15 2.580 3.503
2014-04-15 2.580 3.596
2014-03-17 2.580 3.772
2014-02-18 2.580 4.075
2014-01-15 2.580 4.175
2013-12-16 2.400 3.894
2013-11-15 2.400 4.025
2013-10-15 2.400 4.157
2013-09-16 2.400 4.202
2013-08-15 2.400 4.240
2013-07-15 2.400 4.329
2013-06-17 2.400 4.631
2013-05-15 2.400 4.633
2013-04-15 2.400 4.817
2013-03-15 2.400 4.669
2013-02-15 2.400 4.586
2012-11-15 2.400 4.719
2012-10-15 2.280 4.812
2012-09-17 2.280 4.950
2012-08-15 2.280 4.948
2012-07-16 2.280 4.894
2012-06-15 2.280 5.093
2012-05-15 2.280 5.263
2012-04-16 2.280 4.947
2012-03-15 2.280 4.838
2012-02-15 2.280 4.708
2012-01-16 2.280 4.993
2011-12-15 2.280 5.019
2011-11-15 2.280 4.881
2011-10-17 2.280 4.763
2011-09-15 2.280 5.252
2011-08-15 2.280 5.298
2011-08-04 2.280 5.118
2011-05-06 2.280 4.634
2011-03-11 2.280 4.588
2011-02-28 2.280 4.643
2010-10-15 2.280 5.188
2010-08-16 2.280 6.181
2010-07-15 2.280 6.801
2010-05-17 2.280 6.757
2010-04-15 2.280 6.532
2010-03-15 2.280 6.439
2010-02-16 2.280 6.592
2010-01-15 2.280 6.988
2009-12-15 2.280 6.996
2009-11-16 2.280 7.514
2009-10-15 2.280 7.658
2009-09-15 2.280 7.521
2009-08-17 2.280 7.761
2009-07-15 2.280 7.595

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Vermilion Energy's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.3x coverage).
X
Income/ dividend checks
We assess Vermilion Energy's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Vermilion Energy afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vermilion Energy has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Vermilion Energy's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tony Marino
COMPENSATION CA$6,245,635
AGE 57
TENURE AS CEO 3.3 years
CEO Bio

Mr. Anthony William Marino, also known as Tony, P.Eng., has been the Chief Executive Officer of Vermilion Energy Inc., since March 1, 2016. Mr. Marino has been President of Vermilion Energy Inc., since March 3, 2014 and served as its Chief Operating Officer from June 2012 to March 1, 2016. He served as the Chief Executive Officer and President of Baytex Energy Corp. since 2009 until 2012. Mr. Marino served as Executive Vice President of Vermilion Energy Inc. since June 2012 until March 3, 2014. He has over 30 years of technical and management experience in the North American oil and gas industry, having held executive positions with exploration and production companies in the United States and Canada. He has experience in the United States, particularly in the Rocky Mountain region. Mr. Marino's experience includes managing the Jonah/Pinedale asset area for AEC Oil and Gas (USA) Inc., operations and business development management for Santa Fe Snyder Corp. and several technical and management positions with Atlantic Richfield Company. He served as Chief Operating Officer of Baytex Energy Corp. since November 2004. He served as President and Chief Executive Officer of Dominion Exploration Canada Ltd., a subsidiary of Dominion Resources, Inc. since October 2002. He served as Senior Vice President of Dominion Exploration and Production Inc. Mr. Marino has been a Non Independent Director of Vermilion Energy Inc. since March 1, 2016. He served as a Director of Baytex Energy Corp from 2009 to May 21, 2012. He is a Member of the Board of Governors of the Canadian Association of Petroleum Producers and a Director of the Independent Petroleum Association of Mountain States. He served as a Director of Vermilion Oil & Gas Australia Pty Ltd. until March 1, 2016. Mr. Marino is a Chartered Financial Analyst and is a Registered Professional Engineer. Mr. Marino holds Bachelor of Science degree with Highest Distinction in Petroleum Engineering from the University of Kansas and a Masters of Business Administration degree from California State University at Bakersfield.

CEO Compensation
  • Tony's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Tony's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Vermilion Energy management team in years:

3.3
Average Tenure
57
Average Age
  • The tenure for the Vermilion Energy management team is about average.
Management Team

Tony Marino

TITLE
President
COMPENSATION
CA$6M
AGE
57
TENURE
3.3 yrs

Lars Glemser

TITLE
VP & CFO
COMPENSATION
CA$891K
TENURE
1.2 yrs

Mike Kaluza

TITLE
Executive VP & COO
COMPENSATION
CA$2M
AGE
58
TENURE
3.3 yrs

Mona Jasinski

TITLE
Executive Vice President of People & Culture
COMPENSATION
CA$1M
AGE
54
TENURE
4.3 yrs

Kyle Preston

TITLE
Director of Investor Relations
TENURE
3 yrs

Terry Hergott

TITLE
Vice President of Marketing
TENURE
7.2 yrs

Bruce Lake

TITLE
Managing Director of Australia Business Unit
COMPENSATION
CA$898K

Darcy Kerwin

TITLE
Managing Director of Ireland Business Unit
TENURE
1.3 yrs

Scott Seatter

TITLE
MD of United States Business Unit
TENURE
3.5 yrs

Bryan Sralla

TITLE
Managing Director of Central & Eastern Europe Business Unit
Board of Directors Tenure

Average tenure and age of the Vermilion Energy board of directors in years:

3.3
Average Tenure
63
Average Age
  • The tenure for the Vermilion Energy board of directors is about average.
Board of Directors

Lorenzo Donadeo

TITLE
Co-Founder & Independent Chairman
COMPENSATION
CA$283K
AGE
62
TENURE
3.3 yrs

Tony Marino

TITLE
President
COMPENSATION
CA$6M
AGE
57
TENURE
3.3 yrs

Tim Marchant

TITLE
Independent Director
COMPENSATION
CA$176K
AGE
67
TENURE
9.4 yrs

Cathy Williams

TITLE
Independent Director
COMPENSATION
CA$191K
AGE
67
TENURE
4.3 yrs

Bob Michaleski

TITLE
Independent Director
COMPENSATION
CA$181K
AGE
65
TENURE
2.7 yrs

Bill Roby

TITLE
Independent Director
COMPENSATION
CA$177K
AGE
58
TENURE
2.2 yrs

Larry MacDonald

TITLE
Lead Independent Director
COMPENSATION
CA$224K
AGE
70
TENURE
3.3 yrs

Loren Leiker

TITLE
Independent Director
COMPENSATION
CA$170K
AGE
64
TENURE
6.5 yrs

Steve Larke

TITLE
Independent Director
COMPENSATION
CA$176K
AGE
46
TENURE
2 yrs

Carin Knickel

TITLE
Director
COMPENSATION
CA$402K
AGE
62
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • Vermilion Energy insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
07. Jun 19 Sell Mona Jasinski Individual 05. Jun 19 05. Jun 19 -6,715 CA$28.12 CA$-188,826
23. May 19 Buy Anthony Marino Individual 23. May 19 23. May 19 3,000 CA$28.70 CA$86,100
16. May 19 Sell Robert Engbloom Individual 14. May 19 14. May 19 -3,984 CA$31.30 CA$-124,699
29. Mar 19 Sell Anthony Hatcher Individual 25. Mar 19 25. Mar 19 -36 CA$33.76 CA$-1,215
29. Mar 19 Sell Jenson Tan Individual 25. Mar 19 25. Mar 19 -47 CA$33.76 CA$-1,587
29. Mar 19 Sell Lars Glemser Individual 25. Mar 19 25. Mar 19 -46 CA$33.76 CA$-1,553
29. Mar 19 Sell Terrance Hergott Individual 25. Mar 19 25. Mar 19 -16 CA$33.76 CA$-540
29. Mar 19 Sell Mona Jasinski Individual 25. Mar 19 25. Mar 19 -63 CA$33.76 CA$-2,127
29. Mar 19 Sell Michael Kaluza Individual 25. Mar 19 25. Mar 19 -64 CA$33.76 CA$-2,161
29. Mar 19 Sell Anthony Marino Individual 25. Mar 19 25. Mar 19 -196 CA$33.76 CA$-6,617
28. Aug 18 Buy Carin Knickel Individual 28. Aug 18 28. Aug 18 5,000 CA$41.55 CA$207,768
01. Feb 19 Buy Gerard Schut Individual 27. Nov 18 17. Dec 18 5,000 CA$33.02 CA$153,958
29. Jan 19 Buy Catherine Williams Individual 06. Sep 18 06. Sep 18 1,000 CA$41.00 CA$41,000
28. Jan 19 Buy Mona Jasinski Individual 28. Jan 19 28. Jan 19 2,830 CA$31.13 CA$88,109
14. Dec 18 Buy Catherine Williams Individual 13. Dec 18 13. Dec 18 2,000 CA$30.40 CA$60,791
11. Dec 18 Sell Michael Kaluza Individual 07. Dec 18 07. Dec 18 -790 CA$31.96 CA$-25,248
30. Oct 18 Buy Terrance Hergott Individual 29. Oct 18 29. Oct 18 5,000 CA$35.01 CA$175,050
10. Aug 18 Buy Robert Michaleski Individual 09. Aug 18 09. Aug 18 2,370 CA$45.58 CA$108,022
28. Jun 18 Sell Terrance Hergott Individual 27. Jun 18 27. Jun 18 -4,300 CA$47.66 CA$-204,938
26. Jun 18 Sell Terrance Hergott Individual 22. Jun 18 22. Jun 18 -484 CA$46.50 CA$-22,506
X
Management checks
We assess Vermilion Energy's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Vermilion Energy has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Are Dividend Investors Making A Mistake With Vermilion Energy Inc. (TSE:VET)?

Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. … Cash is slightly more important than profit from a dividend perspective, but given Vermilion Energy's payments were not well covered by either earnings or cash flow, we are concerned about the sustainability of this dividend. … Conclusion To summarise, shareholders should always check that Vermilion Energy's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Should You Worry About Vermilion Energy Inc.'s (TSE:VET) CEO Pay Cheque?

Tony Marino became the CEO of Vermilion Energy Inc. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … View our latest analysis for Vermilion Energy How Does Tony Marino's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Does Vermilion Energy Inc. (TSE:VET) Have A Particularly Volatile Share Price?

Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

What Kind Of Shareholders Own Vermilion Energy Inc. (TSE:VET)?

We'd expect to see both institutions and retail investors owning a portion of the company. … Our analysis of the ownership of the company, below, shows that. … See our latest analysis for Vermilion Energy

Simply Wall St -

What Does Vermilion Energy Inc.'s (TSE:VET) Balance Sheet Tell Us About It?

(TSE:VET) with its market cap of CA$5.4b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Understanding the company's financial health becomes. … We'll look at some basic checks that can form a snapshot the company’s financial strength.

Simply Wall St -

Is Vermilion Energy Inc. (TSE:VET) A Financially Sound Company?

Small and large cap stocks are widely popular for a variety of reasons, however, mid-cap companies such as Vermilion Energy Inc. … Today we will look at VET’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … View our latest analysis for Vermilion Energy

Simply Wall St -

Only 3 Days Left To Cash In On Vermilion Energy Inc. (TSE:VET) Dividend

(TSE:VET) will be distributing its dividend of CA$0.23 per share on the 15 April 2019, and will start trading ex-dividend in 3 days time on the 28 March 2019. … 5 checks you should use to assess a dividend stock? … Has its dividend been stable over the past (i.e. no missed payments or significant payout cuts)?

Simply Wall St -

Some Vermilion Energy Shareholders Are Down 48%

Vermilion Energy isn't yet profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … When a company doesn't yet make profits, we'd generally expect to see good revenue growth. … In the last five years Vermilion Energy saw its revenue shrink by 3.3% per year.

Simply Wall St -

Does Vermilion Energy Inc.'s (TSE:VET) CEO Pay Matter?

Tony Marino has been the CEO of Vermilion Energy Inc. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Tony Marino's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Need To Know: Vermilion Energy Inc. (TSE:VET) Insiders Have Been Selling Shares

So shareholders might well want to know whether insiders have been buying or selling shares in Vermilion Energy Inc. … In the last twelve months, the biggest single sale by an insider was when Co-Founder & Chairman Lorenzo Donadeo sold CA$17m worth of shares at a price of CA$41.26 per share. … All up, insiders sold more shares in Vermilion Energy than they bought, over the last year

Simply Wall St -

Company Info

Description

Vermilion Energy Inc. acquires, explores, develops, and produces petroleum and natural gas in Canada, France, the Netherlands, Germany, Ireland, Australia, the United States, and Central and Eastern Europe. It owns 80% interest in 544,500 net acres of developed land and 87% interest in 439,800 net acres of undeveloped land, and 397 net producing natural gas wells and 3,346 net producing oil wells; and 96% interest in 248,900 net acres of developed land and 92% interest in 251,800 net acres of undeveloped land in the Aquitaine and Paris Basins, and 337 net producing oil wells and 2 net producing gas wells. The company also owns 48% interest in 930,000 net acres of land and 103 net producing gas wells; 32,600 net acres of developed and 1,149,400 net acres of undeveloped land, and 105 net producing oil wells and 8 net producing natural gas wells; and 148,700 net acres of land and 118 net producing oil wells. In addition, it owns 20% interest in the offshore Corrib gas field; and 60% interest in the Wandoo field comprises 59,600 acres; and lands of 652,800 net acres, 242,500 net acres, and 2.35 million net acres. Further, the company has 181,664 barrels of oil equivalent (Mboe) of gross proved reserves and 284,476 Mboe of gross proved plus probable reserves; 43,466 Mboe of gross proved reserves and 63,918 Mboe of gross proved plus probable reserves; 11,802 Mboe of gross proved reserves and 22,196 Mboe of gross proved plus probable reserves; 12,991 Mboe of gross proved reserves and 25,735 Mboe of gross proved plus probable reserves; 13,093 Mboe of gross proved reserves and 20,575 Mboe of gross proved plus probable reserves; 9,668 Mboe of gross proved reserves and 14,480 Mboe of gross proved plus probable reserves; 25,147 Mboe of gross proved reserves and 56,214 Mboe of gross proved plus probable reserves; and 131 Mboe of gross proved reserves and 191 Mboe of gross proved plus probable reserves. The company was founded in 1994 and is headquartered in Calgary, Canada.

Details
Name: Vermilion Energy Inc.
VET
Exchange: TSX
Founded: 1994
CA$4,148,117,959
154,896,115
Website: http://www.vermilionenergy.com
Address: Vermilion Energy Inc.
520-3rd Avenue SW,
Suite 3500,
Calgary,
Alberta, T2P 0R3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX VET Common Shares The Toronto Stock Exchange CA CAD 15. Mar 1996
NYSE VET Common Shares New York Stock Exchange US USD 15. Mar 1996
DB CVZ Common Shares Deutsche Boerse AG DE EUR 15. Mar 1996
Number of employees
Current staff
Staff numbers
698
Vermilion Energy employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 01:23
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.