Criterium Energy Valuation

Is CEQ 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-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: CEQ (CA$0.07) is trading below our estimate of fair value (CA$4.08)

Significantly Below Fair Value: CEQ is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As CEQ is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CEQ. This is calculated by dividing CEQ's market cap by their current revenue.
What is CEQ's PS Ratio?
PS Ratio	0.4x
Sales	CA$24.46m
Market Cap	CA$8.71m

CEQ key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.4x
Enterprise Value/EBITDA	21.9x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does CEQ's PS Ratio compare to its peers?

The above table shows the PS ratio for CEQ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	25.4x
RHC Royal Helium	5.6x	33.6%	CA$12.5m
FHR Fiddlehead Resources	10x	n/a	CA$7.0m
SNV Sonoro Energy	59.2x	n/a	CA$24.9m
SPI Canadian Spirit Resources	26.8x	n/a	CA$8.6m
CEQ Criterium Energy	0.4x	n/a	CA$8.7m

Price-To-Sales vs Peers: CEQ is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (25.4x).

Price to Sales Ratio vs Industry

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

17 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	2.0x	1.8%
CEQ Criterium Energy	0.4x	n/a	US$6.12m
PKI Parkland	0.2x	2.3%	US$4.30b
GEI Gibson Energy	0.3x	-5.6%	US$2.82b

17 Companies		Estimated Growth	Market Cap
Industry Avg.	2.0x	4.6%
CEQ Criterium Energy	0.4x	n/a	US$6.12m

No more companies

Price-To-Sales vs Industry: CEQ is good value based on its Price-To-Sales Ratio (0.4x) compared to the Canadian Oil and Gas industry average (2x).

Price to Sales Ratio vs Fair Ratio

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

CEQ PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate CEQ's Price-To-Sales 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 CEQ forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CA$0.065	CA$0.28 +323.3%	27.2%	CA$0.35	CA$0.20	n/a	2
Dec ’25	CA$0.08	CA$0.28 +243.9%	27.2%	CA$0.35	CA$0.20	n/a	2
Nov ’25	CA$0.075	CA$0.28 +267.3%	27.3%	CA$0.35	CA$0.20	n/a	2
Oct ’25	CA$0.10	CA$0.27 +174.1%	27.5%	CA$0.35	CA$0.20	n/a	2
Sep ’25	CA$0.065	CA$0.28 +323.7%	27.2%	CA$0.35	CA$0.20	n/a	2
Aug ’25	CA$0.07	CA$0.28 +293.4%	27.4%	CA$0.35	CA$0.20	n/a	2
Jul ’25	CA$0.065	CA$0.28 +323.7%	27.4%	CA$0.35	CA$0.20	n/a	2
Jun ’25	CA$0.075	CA$0.28 +267.6%	27.2%	CA$0.35	CA$0.20	n/a	2
Apr ’25	CA$0.045	CA$0.35 +683.2%	43.2%	CA$0.50	CA$0.20	n/a	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.