# Cardinal Energy Ltd. (CJ.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Energy / Oil, Gas & Consumable Fuels. Price C$11.90, market value C$2.1 billion.

## Valuation
- **P/E (trailing): 34.0×** (5-yr avg 17.0×, 3-yr avg 26.9×). Cardinal Energy Ltd. trades at 34.0× trailing earnings, well above its own five-year average of 17.0×: investors are paying up relative to the company's past. The Energy median in the September 2026 study was 16.8×. Forward P/E is 17.7×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 3.5×**. Each dollar of revenue is priced at 3.5×.
- **Price / book: 2.2×**. The shares trade at 2.2× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 7.7×**. Enterprise value is 7.7× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 5.0%** (5-yr avg 16.4%). Free cash flow equals 5.0% of the market value, below its five-year average of 16.4%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 2.9%**. The inverse of the P/E: 2.9% of the price is earned each year.

## Profitability
- **Gross margin: 44.1%**. Cardinal Energy Ltd. keeps 44.1% of revenue after the direct cost of what it sells.
- **Operating margin: 28.9%**. 28.9% of revenue is left after running the business, an exceptional level.
- **Net margin: 4.7%**. 4.7% of each dollar of sales reaches the bottom line.
- **Return on equity: 2.5%**. 2.5% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 11.9%**. Return on all capital, debt included, is 11.9%.
- **Return on assets: 4.6%**. Each dollar of assets produces 4.6% of profit.

## Growth
- **Revenue growth (1 yr): -28.1%** (3-yr -16.0%/yr, 5-yr 14.2%/yr). Revenue fell 28.1% over the last year, against 14.2% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -80.9%** (3-yr -59.2%/yr). Earnings per share fell 80.9%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -16.0%/yr**. Free cash flow has compounded at -16.0% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.29**. Debt is 0.29 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.8×**. It would take 0.8 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 10.3×**. Operating profit covers interest 10.3× over, a safe margin.
- **Current ratio: 0.54** (quick 0.54). Current liabilities exceed current assets, so the company depends on ongoing cash generation or refinancing to pay the next year's bills.
- **Altman Z-score: 3.76**. A Z-score of 3.76 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 6.05%** (C$0.72 per share, trailing). Cardinal Energy Ltd. yields 6.05%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 557%** (114% of free cash flow). The dividend exceeds earnings (557% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 4**. 4 straight years of increases.
- **Dividend growth (5 yr): 88.8%/yr** (1-yr 0.0%). The dividend has compounded at 88.8% a year over five years, doubling roughly every 1 years at that pace.
- **Shareholder yield: 6.1%**. Dividends plus net buybacks return 6.1% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (6 analysts). 6 analysts cover Cardinal Energy Ltd.; the consensus is buy, with an average price target of C$13.63 (+14% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 70.9%** (YTD 41.6%, 3-mo 1.5%). The shares are up 70.9% over twelve months including dividends.
- **From 52-week high: -11.1%** (64.1% above the low). Trading 11% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 54**. An RSI of 54 is neutral.
- **Beta (1 yr): 0.06** (volatility 33%). Beta of 0.06 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CJ.TO · Page: https://foliofundamentals.com/stocks/cj.to

Not investment advice.