Estados financieros detallados de Obsidian Energy Ltd. (OBE): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Obsidian Energy Ltd. registró ingresos de $393.8M en el último ejercicio fiscal, con un CAGR de 5 años del 13.0%.
Márgenes de los últimos 12 meses: margen bruto 29.1%, margen operativo 22.0%, margen neto 4.9%.
Al precio actual de $12.13, OBE cotiza a un P/E de 59.06 y un ROE del 1.39%. La capitalización bursátil es de $810M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $437.0M | $335.2M | $298.7M | $300.2M | $214.1M | $354.9M | $569.3M | $492.9M | $508.1M | $393.8M |
| Coste de Ventas | $527.9M | $413.4M | $360.2M | $331.6M | $213.4M | $226.5M | $301.2M | $354.4M | $373.0M | $314.9M |
| Beneficio Bruto | -$91.0M | -$78.2M | -$61.5M | -$31.4M | $706436 | $128.4M | $268.1M | $138.5M | $135.2M | $78.9M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $50.7M | $31.1M | $22.0M | $19.0M | $14.1M | $27.5M | $34.3M | $26.6M | $19.9M | $23.5M |
| Gastos Operativos | $52.9M | $31.1M | $22.0M | $13.0M | -$1.6M | $30.2M | $25.5M | $26.6M | $19.9M | $23.5M |
| Beneficio Operativo | -$143.9M | -$109.3M | -$83.5M | -$44.4M | $2.4M | $98.2M | $242.6M | $112.0M | $115.2M | $55.3M |
| EBITDA | $148.4M | $130.1M | $134.7M | $151.6M | $107.7M | $197.6M | $379.5M | $282.3M | $298.4M | $195.3M |
| Gastos por Intereses | $85.0M | $18.4M | $15.4M | $31.3M | $29.2M | $29.6M | $33.1M | $24.0M | $24.8M | $21.8M |
| Beneficio Antes de Impuestos | -$706.9M | -$77.4M | -$223.3M | -$607.9M | -$605.7M | $327.3M | $415.8M | $108.3M | -$184.2M | $34.2M |
| Impuestos | -$187.9M | -$10.4M | 0 | 0 | 0 | 0 | -$181.8M | $26.9M | -$43.4M | $8.6M |
| Beneficio Neto | -$519.0M | -$67.0M | -$223.3M | -$607.9M | -$605.7M | $327.3M | $597.6M | $81.5M | -$140.8M | $25.6M |
| BPA | $-7.26 | $-0.93 | $-3.09 | $-8.34 | $-8.26 | $4.36 | $7.29 | $0.97 | $-1.85 | $0.37 |
| BPA Diluido | $-7.26 | $-0.93 | $-3.09 | $-8.34 | $-8.26 | $4.22 | $7.08 | $0.97 | $-1.85 | $0.36 |
| Acciones en Circulación (Diluidas) | $71.8M | $72.0M | $72.3M | $72.9M | $73.3M | $77.6M | $84.4M | $84.1M | $76.0M | $71.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $82.1M | $83.6M | $99.6M | $124.0M |
| Beneficio Bruto | $10.3M | $26.7M | $25.4M | $50.6M |
| Beneficio Operativo | $1.7M | $21.7M | $21.4M | $40.8M |
| EBITDA | $35.5M | $36.8M | $55.8M | $74.9M |
| Beneficio Neto | $12.1M | -$9.0M | -$13.4M | $29.6M |
| BPA | $0.18 | $-0.13 | $-0.20 | $0.44 |
| BPA Diluido | $0.18 | $-0.13 | $-0.20 | $0.43 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $11.0M | $2.0M | $2.0M | $1.0M | $8.1M | $7.3M | $800000 | $500000 | 0 | 0 |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $113.0M | $105.0M | $53.0M | $70.5M | $40.8M | $68.9M | $82.6M | $70.0M | $88.0M | $56.1M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $341.0M | $189.0M | $76.0M | $169.5M | $58.9M | $87.1M | $100.3M | $94.6M | $492.1M | $90.1M |
| Inmovilizado Material | $2.98B | $2.82B | $2.57B | $1.70B | $905.2M | $1.34B | $1.86B | $1.94B | $1.35B | $1.49B |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $3.34B | $3.01B | $2.65B | $1.90B | $964.1M | $1.43B | $2.20B | $2.25B | $2.11B | $1.85B |
| Cuentas por Pagar | $175.0M | $149.0M | $143.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda a Corto | $27.0M | $31.0M | $19.0M | $434.2M | $451.8M | $391.0M | 0 | $2.0M | $3.5M | $400000 |
| Pasivos Corrientes | $344.0M | $286.0M | $190.0M | $604.2M | $547.6M | $530.5M | $222.9M | $230.0M | $275.3M | $167.6M |
| Deuda a Largo | $442.0M | $328.0M | $402.0M | $26.3M | 0 | 0 | $225.3M | $218.0M | $332.4M | $179.9M |
| Pasivos Totales | $1.09B | $842.0M | $782.0M | $812.1M | $641.0M | $665.7M | $624.6M | $606.6M | $708.8M | $463.2M |
| Reservas | -$6.85B | -$111.0M | -$416.0M | -$1.20B | -$1.97B | -$1.55B | -$743.4M | -$635.4M | -$838.0M | -$802.8M |
| Patrimonio Neto | $2.25B | $2.17B | $1.87B | $1.09B | $323.1M | $763.5M | $1.58B | $1.64B | $1.41B | $1.39B |
| Deuda Total | $469.0M | $359.0M | $421.0M | $574.3M | $462.2M | $399.7M | $231.3M | $228.0M | $342.5M | $199.8M |
| Deuda Neta | $458.0M | $357.0M | $419.0M | $573.3M | $454.1M | $392.4M | $230.5M | $227.5M | $342.5M | $199.8M |
| Capital Circulante | -$3.0M | -$97.0M | -$114.0M | -$434.7M | -$488.7M | -$443.4M | -$122.6M | -$135.4M | $216.8M | -$77.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $1.0M | 0 | $1.5M | $200000 |
| Activos Totales | $1.80B | $1.85B | $1.97B | $2.04B |
| Pasivos Totales | $400.3M | $463.2M | $613.7M | $640.4M |
| Patrimonio Neto | $1.40B | $1.39B | $1.36B | $1.40B |
| Deuda Total | $149.6M | $199.8M | $264.6M | $374.7M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$696.0M | -$84.0M | -$305.0M | -$788.3M | -$771.7M | $414.0M | $810.1M | $108.0M | -$202.6M | $35.2M |
| Amortizaciones | 0 | 0 | 0 | 0 | 0 | -$198.6M | -$111.5M | $3.4M | $1.8M | $203.2M |
| Compensación en Acciones | $7.0M | $8.0M | $7.0M | $4.5M | $2.1M | $2.3M | $4.7M | $8.0M | $8.2M | $8.3M |
| Cambio en Capital Circulante | -$97.0M | $5.0M | $68.0M | -$39.6M | -$6.6M | -$5.1M | $34.8M | $13.6M | -$35.7M | $30.6M |
| Flujo de Caja Operativo | -$137.0M | $125.0M | $99.0M | $76.8M | $79.4M | $198.7M | $456.8M | $352.7M | $361.9M | $239.8M |
| Inversiones (CapEx) | -$82.0M | -$141.0M | -$168.0M | -$103.2M | -$57.2M | -$141.0M | -$319.4M | -$293.1M | -$426.5M | -$299.2M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | -$33.7M | 0 | 0 | 0 | $91.4M |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$47.4M | -$41.7M | -$54.9M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$219.0M | -$16.0M | -$69.0M | -$26.4M | $22.2M | $57.7M | $137.4M | $59.6M | -$64.6M | -$59.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $45.4M | $42.5M | $40.0M | $38.2M |
| Inversiones (CapEx) | -$65.6M | -$65.0M | -$80.3M | -$136.9M |
| Flujo de Caja Libre | -$20.2M | -$22.5M | -$40.3M | -$98.7M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.7M | $2.1M | $2.2M | $3.0M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -23.3% | -10.9% | +0.5% | -28.7% | +65.7% | +60.4% | -13.4% | +3.1% | -22.5% |
| Crecimiento Beneficio Neto (anual) | | +87.1% | -233.1% | -172.2% | +0.4% | +154.0% | +82.6% | -86.4% | -272.8% | +118.2% |
| Crecimiento BPA (anual) | | +87.2% | -232.3% | -169.9% | +1.0% | +152.8% | +67.2% | -86.7% | -290.7% | +120.0% |
| Cambio en Acciones (anual) | | +0.3% | +0.5% | +0.8% | +0.5% | +5.9% | +8.8% | -0.4% | -9.6% | -5.5% |
| Crecimiento FCF (anual) | | +92.7% | -331.2% | +61.7% | +184.1% | +159.9% | +138.1% | -56.6% | -208.4% | +8.0% |
| Margen Bruto | -20.8% | -23.3% | -20.6% | -10.5% | 0.3% | 36.2% | 47.1% | 28.1% | 26.6% | 20.0% |
| Margen Operativo | -32.9% | -32.6% | -27.9% | -14.8% | 1.1% | 27.7% | 42.6% | 22.7% | 22.7% | 14.1% |
| Margen EBITDA | 34.0% | 38.8% | 45.1% | 50.5% | 50.3% | 55.7% | 66.7% | 57.3% | 58.7% | 49.6% |
| Margen Neto | -118.8% | -20.0% | -74.8% | -202.5% | -282.9% | 92.2% | 105.0% | 16.5% | -27.7% | 6.5% |
| Margen FCF | -50.1% | -4.8% | -23.1% | -8.8% | 10.4% | 16.3% | 24.1% | 12.1% | -12.7% | -15.1% |
| Tasa Impositiva Efectiva | 26.6% | 13.4% | -0.0% | -0.0% | -0.0% | 0.0% | -43.7% | 24.8% | 23.6% | 25.1% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-3.05 | $-0.22 | $-0.95 | $-0.36 | $0.30 | $0.74 | $1.63 | $0.71 | $-0.85 | $-0.83 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $71.8M | $70.6M | $72.3M | $72.9M | $73.3M | $75.1M | $82.0M | $84.1M | $76.0M | $69.4M |
Qué mirar en empresas de Energy
- FCF yield (>8%) — Caja generada / capitalización. En energía el FCF importa más que el EPS.
- ROIC medio 5a (≥10%) — Incluir años buenos y malos para filtrar las realmente disciplinadas.
- FCF positivo en 8 de los últimos 10 años (≥8/10) — Nombres disciplinados (XOM, CVX, EOG) sobreviven los crashes de 2014-16 y 2020.
- Cobertura del dividendo (FCF / div) (≥1,2x) — Dividendo cubierto por FCF, no por deuda. <1x = recorte probable.
- Deuda Neta / EBITDA (<2x en pico) — Mirarlo con EBITDA en valle, no en pico.
- Capex / Ingresos (10-20% saludable) — Energía necesita reinversión agresiva para mantener reservas.
Rentabilidad
| Rentabilidad sobre capital | 1.39% |
| Rentabilidad sobre capital invertido | 3.38% |
| Rentabilidad sobre activos | 0.94% |
| Margen bruto | 29.07% |
| Margen operativo | 21.96% |
| Margen neto | 4.94% |
Salud financiera
| Deuda / Patrimonio | 0.27 |
| Ratio corriente | 0.78 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 0.41 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -2.29 | -12.40 | -1.25 | -0.11 | -0.10 | 1.19 | 1.23 | 9.25 | -4.50 | 22.73 |
| P/VC | 0.53 | 0.38 | 0.15 | 0.06 | 0.19 | 0.51 | 0.47 | 0.46 | 0.45 | 0.42 |
| P/V | 2.73 | 2.43 | 0.93 | 0.23 | 0.29 | 1.10 | 1.30 | 1.53 | 1.25 | 1.48 |
| Margen Bruto | -20.8% | -23.3% | -20.6% | -10.5% | 0.3% | 36.2% | 47.1% | 28.1% | 26.6% | 20.0% |
| Margen Operativo | -32.9% | -32.6% | -27.9% | -14.8% | 1.1% | 27.7% | 42.6% | 22.7% | 22.7% | 14.1% |
| Margen Neto | -118.8% | -20.0% | -74.8% | -202.5% | -282.9% | 92.2% | 105.0% | 16.5% | -27.7% | 6.5% |