Advantage Energy Ltd.

AAV.TO · Energy · Oil & Gas E&P · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

948.60M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

1.24B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

1.24B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

1.14B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.29B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.89×

the ratio the screener ranks by

Margin of Safety

-12.7%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 948.60M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)1.34B USD
−②Net Debt Today594.65M USD
+③Growth Value200.43M USD
=Value948.60M USD

EPV of the Operations (NOPAT over WACC)

1.34B USD

Net debt today

-594.65M USD

Growth Value

+200.43M USD

Value

948.60M USD

①EPV (earnings power value)

1.34B USD

②Net Debt Today

594.65M USD

③Growth Value

200.43M USD

Market value

Market Cap1.29B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-35.9%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 1.24B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 1.24B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap1.29B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-3.8%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 1.24B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an FCFF at or below zero in the latest three years), so the value is the book value today, 1.24B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap1.29B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-3.8%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 6.91%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.60×Market Risk Premium 6.00%= 8.11%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 18.06M USDPretax Income 55.34M USD= 32.64%

The tax the interest saves.

Interest Expense =EBIT 96.92M USD−Pretax Income 55.34M USD= 41.58M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 41.58M USDTotal Debt 629.89M USD×(1 − Tax Rate for WACC 32.64%)= 4.45%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 629.89M USDMarket Cap + Total Debt 1.29B USD + 629.89M USD= 32.82%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 67.18%×Cost of Equity 8.11%+Debt Weight 32.82%×Cost of Debt 4.45%= 6.91%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 2.34B USD − Total Liabilities 1.10B USD = Book Value Today 1.24B USD

Total Debt 629.89M USD − Cash and Short-Term Investments 35.24M USD = Net Debt Today 594.65M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 13.4%at most 5%passes167,770,673 / 162,225,180
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets9.5%at least -10.0%passes(261.30M USD − 38.78M USD) ÷ 2.34B USD
Price to bookMarket Cap ÷ Book Value Today1.04×at most 3×passes1.29B USD ÷ 1.24B USD
Operating marginOperating Income ÷ Revenue14.0%above 10.0%passes72.26M USD ÷ 516.00M USD
Revenue growthRevenue ÷ Revenue a Year Before − 134.5%above 10.0%passes516.00M USD / 383.74M USD
Net cash(Cash − Total Debt) ÷ Market Cap-46.1%above -30%does not pass(35.24M USD − 629.89M USD) ÷ 1.29B USD
Operating efficiencyOperating Income ÷ Gross Profit23.6%above 25.0%does not pass72.26M USD ÷ 305.79M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

10.78 CAD

Enterprise value

2.73B CAD

the provider's own figure

EV / EBITDA

6.86×

Price / book

1.02×

the provider's book

Price / earnings

21.54×

Return on equity

4.8%

the provider's figure, not this page's

Profit margin

12.6%

Revenue growth

19.2%

Analyst target, mean

13.51 CAD

Analysts

12

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

712.32M417.55M383.74M516.00M

Gross profit

531.40M270.23M207.98M305.79M

Operating income

396.84M114.19M23.91M72.26M

EBITDA

operating income before depreciation and amortisation

440.71M238.26M196.62M263.61M

Pretax income

327.14M102.83M22.96M55.34M

Net income

250.15M76.87M15.15M38.78M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

291.82M62.74M-7.27M19.63M

R&D

————
Balance sheet, year end

Total assets

1.64B1.74B2.06B2.24B

Total liabilities

481.80M561.90M915.08M1.01B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

1.15B1.18B1.14B1.24B

Total debt

149.68M196.06M486.93M580.82M

Cash and equivalents

36.15M14.57M14.05M12.96M

Net PP&E

fixed assets after depreciation

1.43B1.58B1.88B2.09B

Working capital

current assets less current liabilities

30.21M-16.83M-60.57M-171.53M
Cash flow

Operating cash flow

371.07M244.65M151.74M261.30M

Capital expenditure

paid out, so below zero

-178.59M-207.03M-211.40M-286.37M

Depreciation and amortisation

98.92M112.66M139.16M166.68M

Free cash flow

operating cash flow plus capital expenditure

192.48M37.63M-59.66M-25.06M