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Oil & gas E&P · Energy · Fiscal year ends Dec 31 · Reports in CAD
Vermilion Energy reported revenue of CAD 1.8B in the fiscal year ended Dec 2025, up 14.1% from the year before. Operating income was −CAD 535M, an operating margin of −30.3%, and net income was −CAD 654M. Net debt was CAD 1.2B.
Ranks among the 36 oil & gas e&p companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 2,041 | 3,415 | 2,008 | 1,546 | 1,765 |
| Selling, general & admin | 52.9 | 57.7 | 80.7 | 74.0 | 98.5 |
| Operating incomederived: pre-tax income + interest | 1,455 | 2,134 | −193 | 78.0 | −535 |
| Interest expense | 73.1 | 82.9 | 85.2 | 84.6 | 133 |
| Pre-tax income | 1,382 | 2,051 | −278 | −6.6 | −668 |
| Income tax | 233 | 738 | −40.7 | 26.3 | 40.0 |
| Net income | 1,149 | 1,313 | −238 | −46.7 | −654 |
| Diluted EPS | 6.97 | 7.80 | −1.45 | −0.30 | −4.25 |
| Diluted shares | 165 | 168 | 164 | 158 | 154 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 6.0 | 13.8 | 141 | 132 | 19.1 |
| Receivables | 329 | 374 | 243 | 298 | – |
| Current assets | 473 | 714 | 824 | 582 | – |
| Net PP&E | 4,824 | 5,692 | – | – | – |
| Total assets | 5,905 | 6,991 | 6,236 | 6,116 | – |
| Payables | 441 | 481 | 380 | 425 | – |
| Current liabilities | 747 | 892 | 696 | 611 | – |
| Long-term debt | 1,652 | 1,081 | 914 | 963 | 1,243 |
| Total liabilities | 3,839 | 3,590 | 3,204 | 3,305 | – |
| Shareholders' equity | 2,066 | 3,401 | 3,032 | 2,811 | 2,222 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 834 | 1,814 | 1,025 | 968 | – |
| Stock-based compensation | 41.6 | 44.4 | 42.8 | 29.9 | 25.2 |
| Share buybacks | 0.0 | 71.7 | 94.8 | 141 | – |
| Dividends paid | 0.0 | 32.7 | 62.1 | 73.0 | – |
| Dividend per share | – | 0.28 | 0.40 | 0.48 | 0.52 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 67.4% | −41.2% | −23.0% | 14.1% |
| Operating income growth (YoY) | – | 46.7% | −109.0% | – | −786.2% |
| EPS growth (YoY) | – | 11.9% | −118.6% | – | – |
| Operating margin | 71.3% | 62.5% | −9.6% | 5.0% | −30.3% |
| Net margin | 56.3% | 38.4% | −11.8% | −3.0% | −37.0% |
| Return on equityBlank when equity is negative | 55.6% | 38.6% | −7.8% | −1.7% | −29.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 28.2% | 35.0% | −3.5% | 1.4% | – |
| Cash conversion (CFO ÷ net income) | 0.73x | 1.38x | −4.31x | −20.7x | – |
| Receivable days | 59 | 40 | 44 | 70 | – |
| Interest cover | 19.9x | 25.8x | −2.27x | 0.92x | −4.03x |
| Debt ÷ equity | 0.80x | 0.32x | 0.30x | 0.34x | 0.56x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 1,646 | 1,068 | 773 | 832 | 1,224 |
| Current ratio | 0.63x | 0.80x | 1.18x | 0.95x | – |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.