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TORONTO STOCK EXCHANGE · Energy · CIK 0001293135
$13.45
-0.74% · live
Updated
$2.06B market value
From VERMILION ENERGY INC.'s FY2025 40-F, filed Mar 4, 2026
VERMILION ENERGY drills for oil and natural gas. It took in $1.26B last year, which makes it a mid-sized company. It spends more than it earns — losing about 37 cents on every dollar of sales.
The financial picture is mixed, with growth needing attention and profitability weaker.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Several areas of financial weakness.
From VERMILION ENERGY INC.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Profit
-$33.3M → -$465.7M
Profit margin
-3.0% → -37.0%
Earnings per share
-$0.22 → -$3.04
Cash
$93.9M → $13.6M
Measured against FY2024, from the 40-F filed Mar 4, 2026
Deteriorated: $432.4M wider
-$33.3M to -$465.7MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote live), and what was published around it
VET fell 0.74% on the latest quote. The average Energy company tracked here moved −1.01%, and the S&P 500 −1.04%. That is in line with its sector and in line with the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 8.1% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $465.7M last year, losing about 37 cents on every dollar of sales.
Slowly. Sales grew 14.1% last year.
This company has not reported enough detail to tell.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202540-F · Mar 4, 2026Filing for FY2025 | FY202440-F · Mar 4, 2026Filing for FY2024 | FY202340-F · Mar 6, 2024Filing for FY2023 | FY202240-F · Mar 9, 2023Filing for FY2022 | FY202140-F · Mar 7, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $1.26B | $1.10B | $1.43B | $2.43B | $1.45B | +14.1% |
| Selling, general and administrative | $70.2M | $52.7M | $57.5M | $41.1M | $37.7M | +33.0% |
| Interest expense | $94.6M | $60.3M | $60.7M | $59.0M | $52.1M | +56.9% |
| Income before tax | -$476.1M | -$4.7M | -$198.3M | $1.46B | $984.7M | −10044.1% |
| Net income | -$465.7M | -$33.3M | -$169.3M | $935.6M | $818.5M | −1298.4% |
| Net marginNet income ÷ revenueWhat is this? | -37.0% | -3.0% | -11.8% | 38.4% | 56.3% | −34.0 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-3.04 | $-0.2158 | $-1.04 | $5.73 | $5.04 | −1311.2% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 56,518 shares ($639.8K) on or after .
Shares originally obtained via Stock Award.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Report filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingWrite down why you are following VERMILION ENERGY INC., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from VET's 40-F for fiscal year 2025 (period ending 2025-12-31, filed Mar 4, 2026), reported under the IFRS taxonomy. Reported in CAD and shown here in USD, the currency VET trades in, converted at today's rate of 0.7126. The filing itself is in CAD.
2 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Debt and Accounting had too few reported figures and are left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 3 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 4.0 | 1/3 | 40-F, filed Mar 4, 2026 |
| FY2024 | 2.0 | 4/8 | 40-F, filed Mar 5, 2025 |
| FY2023 | 2.0 | 5/8 | 40-F, filed Mar 6, 2024 |
| FY2022 | 10.0 | 8/8 | 40-F, filed Mar 9, 2023 |
| FY2021 | 7.3 | 6/8 | 40-F, filed Mar 7, 2022 |
| FY2020 | 2.0 | 3/8 | 40-F, filed Mar 8, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
1 of 3 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. 6 could not be evaluated and are excluded from the total rather than counted as failures.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Deteriorated: −34.0 pts
-3.0% to -37.0%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: $2.83 wider
-$0.22 to -$3.04Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -85.5%
$93.9M to $13.6MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: +29.1%
$686.5M to $886.0MSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +14.1%
$1.10B to $1.26BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
1 other measure barely moved. Figures compare the two most recent annual filings. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
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Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
This company has not reported enough of the required figures to calculate this score.
Report filed on Form 6-K
Report filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingAnnual report for FY2025
Revenue +14.1% · Profit margin −34.0 pts · Profit $432.4M wider — against FY2024
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
Read the filingReport filed on Form 6-K
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Primary sources and further research