Whitecap Resources

WCPRF

Oil & Gas Exploration & Production · Energy

Price

$11.66

-0.20 (-1.69%)

Market Cap

$14.17B

Exchange

Other OTC

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Jul 26, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+65.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 603.1M (2021) → 997.3M (2025)

Whitecap Resources is a Canadian oil and gas company that drills for and produces crude oil and natural gas. It sells that oil and gas to refiners, pipelines, and energy marketers, mostly in Western Canada. The company operates across Alberta, Saskatchewan, and British Columbia, focusing on light oil, heavy oil, and natural gas liquids.

Whitecap makes money by selling the oil and gas it pulls out of the ground — revenue rises and falls with commodity prices. It is a mid-sized producer with a market cap around $14 billion, and it has built a competitive position through low-cost operations and a large inventory of drilling locations that can sustain production for years. The biggest risk the company faces is a drop in oil and natural gas prices, which it does not control and which can quickly shrink profit margins despite efficient operations.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+81.8% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-93.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

0.8%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$161M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Whitecap Resources grew revenue 82% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

39.5%

Modest — 39.5% gross margin

Operating Margin

33.6%

Excellent — 33.6% operating margin

ROCE

4.5%

Weak — 4.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+64.5%

Fast-growing sales (64.5% YoY)

EPS YoY

-50.1%

Earnings shrinking (-50.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

418%

Turns 418% of profit into real cash

FCF Margin

18.5%

Converts sales into free cash efficiently (18.5%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.26

Conservative — low debt load (0.26)

Interest Cover

8.83x

Comfortably covers interest (8.8x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

15.2x

Fair value — P/E 15.2

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+7.7

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (15.2 → 7.5)

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Dividends

Dividend Yield

4.43%

Healthy income — 4.43% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

-1.5%

Dividend cut (-1.5% YoY) — warning sign

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