VET

MKT CAP:$2B

Vermilion Energy Inc.

Market Cap

$2B

Energy·Oil & Gas Exploration & Production·🇨🇦 Canada·NYSE

Energy·Oil & Gas Exploration & Production·🇨🇦·NYSE

Stock Price

$12.37+$3.83 (+44.85%)

Apr 24, 2026

Company Details

Vermilion Energy Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas in North America, Europe, and Australia. The company owns 81% working interest in 636,7...

CEO

Anthony Hatcher

IPO Date

Sep 14, 2010

Website

www.vermilionenergy.com

Key Metrics TTM

Revenue

$1.4B

-2.0% YoY

Net Income

-$477M

EPS (Diluted)

-$3.14

Free Cash Flow

$223M

Revenue / Share

$9.12

Gross Margin

45.5%

Operating Margin

19.7%

Net Margin

-34.2%

FCF Margin

16.0%

P/S

1.4x

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

Q4 2025

Mar 4, 2026

$314M-16.7%EPS -$2.08

Q3 2025

Nov 7, 2025

$308M-16.3%EPS -$0.02

Q2 2025

Aug 8, 2025

$345M+23.9%EPS -$1.10

Q1 2025

May 8, 2025

$428M+7.1%EPS $0.07

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$540M	$445M	$416M
Q2 22	$567M	$468M	$451M
Q3 22	$644M	$538M	$523M
Q4 22	$566M	$450M	$437M
Q1 23	$355M	$238M	$206M
Q2 23	$310M	$194M	$176M
Q3 23	$385M	$214M	$0
Q4 23	$410M	$160M	$24M
Q1 24	$399M	$205M	$45M
Q2 24	$279M	$145M	$13M
Q3 24	$369M	$195M	$40M
Q4 24	$377M	$220M	$61M
Q1 25	$428M	$251M	$82M
Q2 25	$345M	$182M	$32M
Q3 25	$308M	$182M	$164M
Q4 25	$314M	$21M	-$3M

Valuation

Quarter	P/S	P/E
Q1 22	1.1x	2.8x
Q2 22	1.0x	3.1x
Q3 22	0.8x	2.0x
Q4 22	0.8x	2.0x
Q1 23	0.9x	1.8x
Q2 23	1.0x	2.2x
Q3 23	1.2x	2.7x
Q4 23	1.3x	—
Q1 24	1.3x	—
Q2 24	1.3x	—
Q3 24	1.3x	—
Q4 24	1.3x	—
Q1 25	1.3x	—
Q2 25	1.2x	—
Q3 25	1.3x	—
Q4 25	1.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$249M	$187M
Q2 22	$388M	$305M
Q3 22	$327M	$193M
Q4 22	$362M	$238M
Q1 23	$284M	$171M
Q2 23	$127M	$5M
Q3 23	$87M	-$8M
Q4 23	$251M	$249M
Q1 24	$259M	$120M
Q2 24	$195M	$114M
Q3 24	$98M	$9M
Q4 24	$155M	$5M
Q1 25	$205M	$72M
Q2 25	$103M	$18M
Q3 25	$285M	$177M
Q4 25	$97M	-$44M

Capital Expenditures

Quarter	CapEx
Q1 22	$62M
Q2 22	$83M
Q3 22	$134M
Q4 22	$124M
Q1 23	$113M
Q2 23	$122M
Q3 23	$94M
Q4 23	$2M
Q1 24	$139M
Q2 24	$81M
Q3 24	$90M
Q4 24	$150M
Q1 25	$133M
Q2 25	$84M
Q3 25	$107M
Q4 25	$141M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+122.8%	+19.4%
Q2 22	+112.0%	+10.0%
Q3 22	+80.3%	+15.5%
Q4 22	+9.5%	+13.6%
Q1 23	-34.3%	+20.3%
Q2 23	-45.3%	+16.3%
Q3 23	-40.3%	+217.2%
Q4 23	-27.5%	+199.0%
Q1 24	+12.6%	+138.5%
Q2 24	-10.2%	+97.6%
Q3 24	-4.2%	-14.5%
Q4 24	-8.1%	-18.2%
Q1 25	+7.1%	-2.4%
Q2 25	+23.9%	+18.1%
Q3 25	-16.3%	-56.0%
Q4 25	-16.7%	+0.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$19M	3.4%
Q2 22	$5M	1.0%
Q3 22	$4M	0.7%
Q4 22	$4M	0.7%
Q1 23	$17M	4.8%
Q2 23	$4M	1.2%
Q3 23	$5M	1.2%
Q4 23	$6M	1.4%
Q1 24	$4M	1.0%
Q2 24	-$3M	-1.0%
Q3 24	$5M	1.3%
Q4 24	$5M	1.5%
Q1 25	$4M	1.0%
Q2 25	$939.8K	0.3%
Q3 25	$4M	1.4%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 22	$10M	$19M	—
Q2 22	$11M	$5M	—
Q3 22	$11M	$4M	—
Q4 22	$10M	$4M	—
Q1 23	$15M	$17M	—
Q2 23	$15M	$4M	—
Q3 23	$20M	—	—
Q4 23	$20M	—	—
Q1 24	$21M	—	—
Q2 24	$22M	—	—
Q3 24	$21M	—	—
Q4 24	$26M	—	—
Q1 25	$30M	—	—
Q2 25	$23M	—	—
Q3 25	$14M	$4M	—
Q4 25	—	—	$23M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$3M	$0	$3M
Q2 22	$493.3K	$0	$493.3K
Q3 22	$6M	$0	$6M
Q4 22	$10M	$0	$10M
Q1 23	$73M	$0	$73M
Q2 23	$37M	$0	$37M
Q3 23	$0	$0	$0
Q4 23	$103M	$0	$103M
Q1 24	$186M	$0	$186M
Q2 24	$196M	$0	$196M
Q3 24	$140M	$0	$140M
Q4 24	$96M	$0	$96M
Q1 25	$17M	$0	$17M
Q2 25	$51M	$0	$51M
Q3 25	$34M	$0	$34M
Q4 25	$14M	$0	$14M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	168M	+3.9%	+4.3%
Q2 22	169M	+0.5%	+2.5%
Q3 22	168M	-0.4%	+4.0%
Q4 22	163M	-3.1%	+0.8%
Q1 23	168M	+2.8%	-0.3%
Q2 23	167M	-0.3%	-1.1%
Q3 23	166M	-0.6%	-1.2%
Q4 23	164M	-1.7%	+0.2%
Q1 24	164M	+0.0%	-2.5%
Q2 24	161M	-1.6%	-3.8%
Q3 24	161M	0.0%	-3.2%
Q4 24	161M	0.0%	-1.5%
Q1 25	156M	-3.4%	-4.9%
Q2 25	156M	+0.1%	-3.3%
Q3 25	155M	-0.6%	-3.8%
Q4 25	153M	-1.2%	-5.0%

Shares Outstanding