Obsidian Energy Ltd. (OBE) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 40-F for FY2025, filed Feb 19, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OBE SEC filings page.
Obsidian Energy Ltd. (OBE) reported $416.6M in revenue for fiscal year 2025, down 20.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Obsidian Energy Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Obsidian Energy Ltd., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Obsidian Energy Ltd.'s revenue declined 20.7% year-over-year, from $525.1M to $416.6M. This contraction results in a growth score of 15/100.
Obsidian Energy Ltd. carries a low D/E ratio of 0.13, meaning only $0.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.
Obsidian Energy Ltd.'s current ratio of 0.54 is below the typical benchmark, resulting in a score of 6/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Obsidian Energy Ltd. generated $174.9M in operating cash flow, capex of $218.0M consumed most of it, leaving -$43.1M in free cash flow. This results in a low score of 19/100, reflecting heavy capital investment rather than weak cash generation.
Not available for Obsidian Energy Ltd., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Obsidian Energy Ltd. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.
For every $1 of reported earnings, Obsidian Energy Ltd. generates $6.81 in operating cash flow ($174.9M OCF vs $25.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Obsidian Energy Ltd. generated $416.6M in revenue in fiscal year 2025. This represents a decrease of 20.7% from the prior year.
Obsidian Energy Ltd. reported $25.7M in net income in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Obsidian Energy Ltd. earned $0.36 per diluted share (EPS) in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Obsidian Energy Ltd. recorded an outflow of $43.1M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 430.1% from the prior year.
Obsidian Energy Ltd. carried $131.2M in long-term debt as of fiscal year 2025; cash and equivalents are not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Obsidian Energy Ltd.'s net profit margin was 6.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 33.0 percentage points from the prior year.
Obsidian Energy Ltd.'s ROE was 2.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 16.9 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Obsidian Energy Ltd. spent $40.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 38.3% from the prior year.
Obsidian Energy Ltd. invested $218.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 8.5% from the prior year.
Not reported for fiscal year 2025.
OBE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $416.6M-20.7% | $525.1M+1.4% | $518.0M-9.1% | $569.8M+61.3% | $353.2M+45.4% | $242.8M-17.6% | $294.7M+5.3% | $280.0M-21.1% | $354.7M-17.2% | $428.3M |
| Interest Expense | $30.7M-15.3% | $36.3M-2.9% | $37.3M+2872.5% | $1.3M+702.6% | $157K-99.5% | $29.2M-6.9% | $31.3M+103.5% | $15.4M-16.2% | $18.4M-78.4% | $84.9M |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$20.8Mn/m | -$190.7M |
| Net Income | $25.7Mn/m | -$140.7M-272.0% | $81.8M-86.3% | $598.7M+84.8% | $324.0Mn/m | -$605.1Mn/m | -$608.2Mn/m | -$223.5Mn/m | -$67.1Mn/m | -$518.4M |
| EPS (Basic) | $0.37n/m | -$1.85-284.1% | $1.01-86.2% | $7.30+69.0% | $4.32n/m | -$8.26n/m | -$8.35 | -$3.09 | -$0.14n/m | -$1.04 |
| EPS (Diluted) | $0.36n/m | -$1.85-291.2% | $0.97-86.3% | $7.09+69.7% | $4.18n/m | -$8.26n/m | -$8.35 | -$3.09 | -$0.14n/m | -$1.04 |
| Diluted Shares (Avg) | 72M-5.5% | 76M-9.6% | 84M-0.4% | 84M+8.8% | 78M+5.9% | 73M+0.5% | 73M | 72M | 504M+0.3% | 502M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
OBE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B-7.9% | $1.5B-13.9% | $1.7B+4.6% | $1.6B+45.6% | $1.1B+48.0% | $756.0M-48.6% | $1.5B-24.3% | $1.9B-19.2% | $2.4B-3.4% | $2.5B |
| Current Assets | $65.7M-80.8% | $341.7M+376.9% | $71.7M-3.3% | $74.1M+8.7% | $68.2M+47.6% | $46.2M-64.7% | $130.8M+134.8% | $55.7M-63.1% | $151.0M-40.5% | $254.0M |
| Cash & Equivalents | N/A | $0-100.0% | $379K-35.9% | $591K-89.7% | $5.7M-10.0% | $6.4M+174.4% | $2.3M+689.5% | $293K-81.7% | $1.6M-80.5% | $8.2M |
| Accounts Receivable | $40.9M-33.1% | $61.1M+15.3% | $53.0M-13.1% | $61.0M+13.2% | $53.9M+68.6% | $32.0M-36.8% | $50.6M+30.3% | $38.8M-54.1% | $84.7M-6.8% | $90.9M |
| Total Liabilities | $337.8M-31.4% | $492.2M+7.1% | $459.5M-0.5% | $461.6M-11.4% | $521.0M+3.7% | $502.6M-19.8% | $626.5M+9.3% | $573.1M-14.8% | $672.7M-17.3% | $813.3M |
| Current Liabilities | $122.2M-36.1% | $191.2M+9.7% | $174.2M+5.8% | $164.7M-60.3% | $415.2M-3.3% | $429.4M-7.9% | $466.1M+234.7% | $139.3M-39.1% | $228.5M-10.8% | $256.2M |
| Non-Current Liabilities | $215.6M-28.4% | $301.0M+5.5% | $285.3M-3.9% | $296.9M+180.5% | $105.8M+44.5% | $73.2M-54.3% | $160.4M-63.0% | $433.9M-2.3% | $444.2M-20.3% | $557.1M |
| Long-Term Debt | $131.2M-43.2% | $230.8M+39.8% | $165.1M-0.8% | $166.5Mn/m | $0n/m | $0-100.0% | $20.3M-93.1% | $294.6M+12.4% | $262.0M-20.4% | $329.2M |
| Total Equity | $1.0B+4.0% | $976.3M-21.6% | $1.2B+6.7% | $1.2B+95.4% | $597.6M+135.9% | $253.4M-69.9% | $843.0M-38.7% | $1.4B-20.5% | $1.7B+3.4% | $1.7B |
| Retained Earnings | -$585.5Mn/m | -$581.9Mn/m | -$481.3Mn/m | -$549.4Mn/m | -$1.2Bn/m | -$1.5Bn/m | -$922.5Mn/m | -$304.9Mn/m | -$88.7Mn/m | -$5.1B |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments, Goodwill.
OBE Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $174.9M-30.4% | $251.3M-5.9% | $267.2M-20.9% | $337.6M+117.1% | $155.5M+149.8% | $62.3M+5.1% | $59.3M-18.3% | $72.6M-27.3% | $99.9Mn/m | -$102.0M |
| Depreciation & Amortization | N/A | N/A | N/A | -$82.4Mn/m | -$155.4M | N/A | N/A | N/A | N/A | N/A |
| Capital Expenditures | $218.0M-8.5% | $238.3M+7.5% | $221.6M-4.8% | $232.6M+111.0% | $110.3M+145.9% | $44.9M-43.7% | $79.6M-35.3% | $123.1M+9.3% | $112.6M+84.4% | $61.1M |
| Free Cash Flow | -$43.1M-430.1% | $13.1M-71.4% | $45.6M-56.5% | $104.9M+132.0% | $45.2M+159.9% | $17.4Mn/m | -$20.4Mn/m | -$50.6Mn/m | -$12.8Mn/m | -$163.1M |
| Investing Cash Flow | -$12.5Mn/m | -$299.0Mn/m | -$222.4Mn/m | -$214.9Mn/m | -$122.6Mn/m | -$51.9Mn/m | -$78.0Mn/m | -$118.0Mn/m | -$27.2M-102.8% | $975.7M |
| Financing Cash Flow | -$162.3M-445.7% | $46.9Mn/m | -$45.0Mn/m | -$127.5Mn/m | -$33.6Mn/m | -$6.4M-130.6% | $20.8M-52.8% | $44.0Mn/m | -$79.9Mn/m | -$867.0M |
| Share Buybacks | $40.0M+38.3% | $29.0M-19.3% | $35.9M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid.
OBE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2540-F | FY2440-F | FY2340-F | FY2240-F | FY2140-F | FY2040-F | FY1940-F | FY1840-F | FY1740-F | FY1640-F |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 6.2%+33.0pp | -26.8%-42.6pp | 15.8% | 105.1% | 91.7% | -249.2% | -206.4% | -79.8%-60.9pp | -18.9% | -121.0% |
| Return on Equity | 2.5%+16.9pp | -14.4%-21.0pp | 6.6%-44.7pp | 51.3%-2.9pp | 54.2%+293.1pp | -238.8%-166.7pp | -72.1%-55.9pp | -16.3%-12.4pp | -3.9%+27.1pp | -31.0% |
| Return on Assets | 1.9%+11.5pp | -9.6%-14.4pp | 4.8%-31.9pp | 36.8%+7.8pp | 29.0%+109.0pp | -80.0%-38.7pp | -41.4%-29.9pp | -11.5%-8.7pp | -2.8%+18.1pp | -20.8% |
| Current Ratio | 0.54-1.2x | 1.79+1.4x | 0.410.0x | 0.45+0.3x | 0.16+0.1x | 0.11-0.2x | 0.28-0.1x | 0.40-0.3x | 0.66-0.3x | 0.99 |
| Debt-to-Equity | 0.13-0.1x | 0.24+0.1x | 0.130.0x | 0.14+0.1x | 0.000.0x | 0.000.0x | 0.02-0.2x | 0.21+0.1x | 0.150.0x | 0.20 |
| Liabilities-to-Equity | 0.33-0.2x | 0.50+0.1x | 0.370.0x | 0.40-0.5x | 0.87-1.1x | 1.98+1.2x | 0.74+0.3x | 0.420.0x | 0.39-0.1x | 0.49 |
| Asset Turnover | 0.310.0x | 0.36+0.1x | 0.300.0x | 0.350.0x | 0.320.0x | 0.32+0.1x | 0.20+0.1x | 0.140.0x | 0.150.0x | 0.17 |
| FCF Margin | -10.3%-12.8pp | 2.5%-6.3pp | 8.8%-9.6pp | 18.4%+5.6pp | 12.8%+5.6pp | 7.2%+14.1pp | -6.9%+11.2pp | -18.1%-14.5pp | -3.6%+34.5pp | -38.1% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Note: The current ratio is below 1.0 (0.54), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Obsidian Energy Ltd. OBE | FY2025 | $416.6M | $25.7M | 6.2% | $803.4M | 31/100 |
| Vaalco Energy, Inc. EGY | FY2025 | $359.3M | -$41.4M | -11.5% | $655.3M | 44/100 |
| SandRidge Energy, Inc. SD | FY2025 | $156.4M | $70.2M | 44.9% | $528.0M | 73/100 |
| Tamboran Resources Corporation TBN | FY2026 | $0 | -$26.1M | N/A | $785.9M | — |
| Greenfire Resources Ltd. GFR | FY2025 | $426.2M | $34.6M | 8.1% | $1.6B | 51/100 |
| GEOPARK LIMITED GPRK | FY2025 | $492.5M | $49.7M | 10.1% | $732.0M | 53/100 |
Where Obsidian Energy Ltd. Ranks
Frequently Asked Questions
What is Obsidian Energy Ltd.'s annual revenue?
Obsidian Energy Ltd. (OBE) reported $416.6M in total revenue for fiscal year 2025. This represents a -20.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Obsidian Energy Ltd.'s revenue growing?
Obsidian Energy Ltd. (OBE) revenue declined by 20.7% year-over-year, from $525.1M to $416.6M in fiscal year 2025.
Is Obsidian Energy Ltd. profitable?
Yes, Obsidian Energy Ltd. (OBE) reported a net income of $25.7M in fiscal year 2025, with a net profit margin of 6.2%.
What is Obsidian Energy Ltd.'s net profit margin?
Obsidian Energy Ltd. (OBE) had a net profit margin of 6.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Obsidian Energy Ltd.'s return on equity (ROE)?
Obsidian Energy Ltd. (OBE) has a return on equity of 2.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Obsidian Energy Ltd.'s free cash flow?
Obsidian Energy Ltd. (OBE) recorded an outflow of $43.1M in free cash flow during fiscal year 2025. This represents a -430.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Obsidian Energy Ltd.'s operating cash flow?
Obsidian Energy Ltd. (OBE) generated $174.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Obsidian Energy Ltd.'s total assets?
Obsidian Energy Ltd. (OBE) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Obsidian Energy Ltd.'s capital expenditures?
Obsidian Energy Ltd. (OBE) invested $218.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Obsidian Energy Ltd.'s current ratio?
Obsidian Energy Ltd. (OBE) had a current ratio of 0.54 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Obsidian Energy Ltd.'s debt-to-equity ratio?
Obsidian Energy Ltd. (OBE) had a debt-to-equity ratio of 0.13 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Obsidian Energy Ltd.'s liabilities-to-equity ratio?
Obsidian Energy Ltd. (OBE) had a liabilities-to-equity ratio of 0.33 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Obsidian Energy Ltd.'s return on assets (ROA)?
Obsidian Energy Ltd. (OBE) had a return on assets of 1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Obsidian Energy Ltd.'s P/E ratio?
Obsidian Energy Ltd. (OBE) trades at 31.3x earnings, its market capitalization divided by $25.7M net income, FY2025. The market capitalization is $803.4M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Obsidian Energy Ltd.'s price-to-sales ratio?
Obsidian Energy Ltd. (OBE) trades at 1.9x sales, its market capitalization divided by $416.6M revenue, FY2025. The market capitalization is $803.4M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Obsidian Energy Ltd.'s Piotroski F-Score?
Obsidian Energy Ltd. (OBE) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Obsidian Energy Ltd.'s earnings high quality?
Obsidian Energy Ltd. (OBE) has an earnings quality ratio of 6.81x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Obsidian Energy Ltd.?
Obsidian Energy Ltd. (OBE) scores 31 out of 100 on our Financial Health Score, indicating weak standing within its energy companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Obsidian Energy Ltd. it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.