Paramount Resources Ltd. PRMRY

EnergyOil & GasCanada

Last close 19.87 USD on Nov 2, 2026, +1.0% year to date

Quant rating

Quant rating C Rank 78 of 113 in Energy

Growth B 42 of 113
Valuation D 106 of 113
Quality C 59 of 113
Revisions B 33 of 113
Momentum D 94 of 113

Wall Street consensus Buy (2.30)Average target 27.53 USD +38.6%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.5B
Enterprise value: 3.1B
52-week range: 18.93 – 24.59
3-year range: 18.93 – 24.59
Dividend yield: 2.17%
Beta (5 years): –
Shares outstanding: 146M
Next earnings: Nov 5, 2026

About the company

Paramount Resources Ltd. is a Canada-based energy company that explores for and develops both conventional and unconventional petroleum and natural gas, including strategic exploration and pre-development plays. The Company's principal properties are located in Alberta and British Columbia. The Company's exploration, development and production activities are focused on discovering new reserves, increasing the productive capacity of existing fields and extracting, processing and selling the Company's natural gas, natural gas liquids (NGLs) and oil. The Company's Kaybob properties are located in the greater Kaybob area near Fox Creek, Alberta and include the Kaybob North Duvernay development and other natural gas and oil producing properties. Its Kaybob land holdings include approximately 110,000 net acres of Duvernay rights and approximately 180,000 net acres of Montney rights. Its Willesden Green Duvernay development is located near Rocky Mountain House, Alberta.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	704	1,290	1,358	1,616	844	–
Revenue growth	−45.4%	−5.1%	−15.9%	91.5%	78.0%	8.2%
EPS (basic, normalized)	6.42	1.57	2.35	3.37	1.32	–
EPS growth	309.1%	−33.1%	−30.3%	154.6%	–	–
Gross margin	45.7%	50.3%	53.4%	63.6%	57.3%	54.1%
Net margin	133.4%	18.1%	26.1%	31.1%	22.2%	46.2%
ROE	40.2%	9.3%	13.7%	22.7%	10.2%	19.2%

Balance sheet, last quarter
Cash & short-term investments (mil)	363
Current ratio	1.87x
Long-term debt (mil)	14.9
Net debt (mil)	−346
Total equity (mil)	1,943
Net debt / equity	−0.18x
Net debt / EBITDA	−0.25x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	704	−45.4%	4.5x	1,386	+122.5%	2.3x	6.42	+309.1%	3.1x
2026	715	+1.6%	4.4x	462	−66.6%	6.8x	1.37	−78.7%	14.5x
2027	919	+28.6%	3.4x	545	+17.8%	5.8x	1.55	+13.0%	12.8x
2028	1,252	+36.2%	2.5x	686	+26.0%	4.6x	1.27	−17.8%	15.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	715	−0.8%	−1.7%	+27.1%	1.37	+17.5%	+22.9%	+46.3%
2027	919	+1.7%	+4.2%	+18.6%	1.55	+16.3%	+17.8%	+33.1%
2028	1,252	0.0%	+1.3%	−3.6%	1.27	−3.4%	+2.3%	−10.7%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	390	498	438	510	240	122	191	260	216	247
Sales mean (mil)	355	401	403	387	254	–	136	189	166	215
Surprise	+10.0%	+24.2%	+8.7%	+31.7%	−5.6%	–	+40.5%	+37.5%	+30.1%	+14.7%
EPS reported	0.46	0.57	0.64	0.58	9.17	0.03	−0.02	−0.01	0.36	0.46
EPS mean	0.64	0.85	0.47	0.82	0.42	0.17	0.15	0.23	0.13	0.21
Surprise	−28.2%	−32.9%	+37.3%	−29.4%	+2,057.6%	−82.5%	−113.3%	−104.4%	+183.5%	+115.2%

Peer comparison Oil & Gas

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PRMRY Paramount Resources Ltd.	3.5B	−0.25x	133.4%	1.77x	14.5x	12.8x	6.8x	5.8x
PEY Peyto Exploration & Development Corp.	3.7B	0.99x	39.1%	1.68x	9.9x	11.6x	5.2x	5.7x
PEYXY Peyto Exploration & Development Corp.	3.7B	0.95x	39.1%	1.68x	10.5x	12.2x	5.3x	5.8x
PARR Par Pacific Holdings, Inc.	3.6B	1.21x	4.9%	1.79x	3.1x	4.8x	3.0x	3.8x
POU Paramount Resources Ltd.	3.5B	−0.26x	133.4%	1.77x	17.3x	15.3x	6.7x	5.7x
TPZ Topaz Energy Corp.	3.3B	1.61x	38.3%	3.10x	25.7x	24.5x	13.2x	12.9x
Mean		0.71x	64.7%	1.96x	13.5x	13.5x	6.7x	6.6x
Median		0.97x	39.1%	1.77x	12.5x	12.5x	6.0x	5.8x

Technical analysis

1M0.0%
3M0.0%
1Y+1.0%
3Y+1.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Paramount Resources Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	704	1,290	1,358	1,616	844	474
Cost of revenue	382	641	633	589	360	313
Gross profit	322	649	725	1,027	484	161
Selling, general & administrative expenses	73.8	63.8	62.5	50.2	47.8	36.0
Research & development	4.7	19.0	10.2	22.6	30.8	26.7
Depreciation/amortization	183	289	288	248	238	199
Interest expense (income), operating	−25.7	−16.7	−35.2	140	37.3	42.6
Unusual expense (income)	−1,153	−10.8	−95.4	−64.6	−260	−98.6
Other operating expenses	16.1	39.6	47.6	−3.6	136	−37.6
Operating income	1,224	265	447	635	255	−7.4
Net interest income (expense)	22.7	9.9	8.8	–	0.1	−1.3
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−29.0	0.8	−3.3	4.1	0.6	−1.1
Net income before taxes	1,218	276	453	639	255	−9.8
Provision for taxes	279	42.4	97.8	137	67.8	8.0
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	939	234	355	502	188	−17.8
Extraordinary items	–	–	–	–	–	–
Net income	939	234	355	502	188	−17.8
EBIT, normalized	44.8	238	317	710	31.4	−63.3
EBITDA, normalized	232	532	610	935	273	139
Basic EPS, normalized	6.42	1.57	2.35	3.37	1.32	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Paramount Resources Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	532	1.7	36.9	1.8	1.3	3.6
Receivables	71.7	134	118	165	112	78.5
Total inventory	–	–	–	–	–	–
Prepaid expenses	12.2	12.1	6.8	6.7	5.8	7.8
Other current assets	1.5	1,329	7.5	200	4.6	0.3
Total current assets	618	1,477	169	374	124	90.3
Property, plant & equipment	1,891	1,347	2,583	2,171	2,224	2,020
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	100	392	408	411	295	117
Note receivable	–	–	–	0	0.4	2.2
Other long-term assets	4.5	92.3	154	245	432	518
Total assets	2,614	3,308	3,313	3,201	3,075	2,747
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	121	156	205	164	166	111
Accrued expenses	–	–	–	–	–	–
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	2.7	2.5	2.3	2.2	7.9	7.8
Other current liabilities	39.9	221	29.1	41.8	28.6	51.9
Total current liabilities	164	379	236	208	203	171
Long-term debt	15.9	138	19.8	129	308	648
Minority interest	–	–	–	–	–	–
Other liabilities	458	222	415	371	502	327
Total liabilities	638	739	672	708	1,012	1,146
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	383	1,616	1,738	1,673	1,782	1,734
Additional paid-in capital	131	131	136	137	135	131
Retained earnings (accumulated deficit)	1,393	533	477	382	−12.3	−185
Treasury stock	–	–	–	–	–	–
Other equity	68.1	290	291	301	158	−79.8
Total equity	1,976	2,570	2,642	2,493	2,063	1,601
Total liabilities & shareholders' equity	2,614	3,308	3,313	3,201	3,075	2,747

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Paramount Resources Ltd., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	939	234	355	502	188	−17.8
Depreciation, depletion & amortization	180	299	303	211	105	88.0
Deferred taxes	279	42.4	97.8	137	67.8	8.0
Non-cash items	−1,122	37.1	−78.2	−2.8	−4.9	−0.6
Changes in working capital	28.1	−45.0	30.4	−72.6	25.9	−14.0
Cash from operations	304	567	708	775	382	63.6
Investing activities
Capital expenditures	−638	−596	−613	−591	−222	−174
Other investing cash flows	2,761	65.4	328	108	181	−22.6
Cash from investing	2,123	−530	−284	−483	−40.9	−196
Financing activities
Financing cash flow items	1.5	–	–	–	–	–
Cash dividends paid	−1,638	−173	−268	−118	−21.7	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−258	103	−120	−172	−321	132
Cash from financing	−1,895	−69.1	−389	−290	−343	132
Foreign exchange effects	−0.6	0	−0.2	−1.2	0	−0.5
Net change in cash	531	−32.3	35.0	0.6	−2.3	−1.1
Free cash flow	−334	−28.7	95.8	184	160	−110

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.