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AAV.TO (AAV) Fair Value & Analysis

Energy · CA · Market cap C$1.8B

AT AAV.TO AAV · TO
PriceC$11.20
Fair ValueC$4.62
Upside-58.8%
Quality50/100

Strengths

Solidly profitable · 17.5% net margin
Ranks above peers (8/13)

Risks

!Trades 142% ABOVE our fair value of C$4.62
!Mixed Growth (revenue 5y +21.4 %/yr)
!Low debt · negative free cash flow
!Moderate moat 61/100
Mixed Growth (revenue 5y +21.4 %/yr)
Solidly profitable · 17.5% net margin
Low debt · negative free cash flow
Ranks above peers (8/13)
Moderate moat 61/100
Evidence: Medium Range C$3.46 – C$5.75 Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 10 days ago

Share price +3.0% over the past month.

A solid business, but screening 59% overvalued on our models.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (C$5.75). The favourable scenario is already priced in.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

C$12.69 C$3.34 Fair Value C$4.62 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range C$3.34 – C$12.69 · fair‑value band C$3.46 – C$5.75 · the C$11.20 price screens above the C$4.62 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

AAV.TO (AAV) currently trades at C$11.20, while our model-based Fair Value estimate is C$4.62, implying the stock looks roughly 58.8% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, AAV.TO generated revenue of C$637M at a net margin of 17.5%. Revenue declined 4.4% year over year. It earns a return on equity of 6.6%. Net debt stands at C$863M. Fundamentals as of Aug 13, 2026

Our scenario range runs from C$3.46 (bear case) to C$5.75 (bull case); at C$11.20, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 22% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -35% fair-value upside, at -59%, AAV screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income C$6.89 C$6.54 C$5.13 76
ROIC Compounder C$0.3100 C$0.7800 C$1.17 72
Growth-Adj P/E C$2.85 C$4.07 C$5.29 68
All 14 models by family
Earnings-Based
Graham-Dodd C$2.15 C$8.04 C$10.87 54
Lynch FV C$1.94 C$2.77 C$3.60 50
PEG = 1.0 C$1.94 C$2.77 C$3.60 46
EPV C$0.3100 C$0.7800 C$1.17 59
Multiples
P/E Multiple C$3.32 C$4.43 C$5.53 63
P/S Multiple C$3.46 C$4.62 C$5.77 58
P/B Multiple C$4.03 C$5.38 C$6.72 55
EV/EBIT C$1.20 C$2.64 C$4.08 53
EV/EBITDA C$5.63 C$8.55 C$11.46 54
EV/Revenue C$0.1200 C$1.51 C$2.89 43
Asset-Based
NCAV (Graham) C$5.04 C$6.76 C$10.08 50
Economic Profit
Residual Income C$6.89 C$6.54 C$5.13 76
ROIC Compounder C$0.3100 C$0.7800 C$1.17 72
Growth Earnings
Growth-Adj P/E C$2.85 C$4.07 C$5.29 68

Widest divergence: Asset-Based (C$6.76) versus Economic Profit (C$0.7800). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 15.4 as of Jun 6, 2026
P/S ratio 2.87 TTM
Net margin 17.5% TTM
Return on equity 6.6% TTM
Return on assets 4.3% TTM
Operating margin 28.7% TTM
More key figures
Profitability
EPS (TTM) C$0.6500
Growth
Revenue (TTM) C$637M TTM
Revenue growth (YoY) -4.4% 3y avg -12.5%
EPS growth (YoY) -41.7%
Balance sheet & cash flow
Free cash flow −C$33.3M FY2025
Net debt C$863M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 45 · Market factors (momentum, volatility) 58

Profitability 21
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 83
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Advantage Energy Ltd., together with its subsidiaries, engages in the acquisition, exploitation, development, and production natural gas, crude oil, and natural gas liquids (NGLs) in the Province of Alberta, Canada. Advantage Energy Ltd. was formerly known as Advantage Oil & Gas Ltd. and changed its name to Advantage Energy Ltd. in May 2021.

Full company description

Advantage Energy Ltd., together with its subsidiaries, engages in the acquisition, exploitation, development, and production natural gas, crude oil, and natural gas liquids (NGLs) in the Province of Alberta, Canada. Advantage Energy Ltd. was formerly known as Advantage Oil & Gas Ltd. and changed its name to Advantage Energy Ltd. in May 2021. The company was founded in 2001 and is headquartered in Calgary, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AAV.TO reported revenue of C$646M in FY2025 versus C$492M in FY2021, a compound +7.0%/yr. Reported net income was C$53.1M in FY2025, compounding −40.1%/yr from FY2021.

Growth Quality 49/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
C$646M
Latest YoY
+17.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−12.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+21.4%
Avg. growth/yr (40Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−31.5% (-31.5 + 0.0)
Revenue +7.0%/yr
FY21 C$492M
FY22 C$964M
FY23 C$509M
FY24 C$550M
FY25 C$646M
Net income −40.1%/yr
FY21 C$412M
FY22 C$339M
FY23 C$102M
FY24 C$21.7M
FY25 C$53.1M
Character of growth · EPS growth decomposed (2014-2025) +13.0 % p.a.
Revenue per share +13.4 pp

of which total revenue +13.3 pp · buybacks/dilution +0.1 pp

EBIT margin −2.3 pp
Tax rate +3.9 pp
Residual (interest, one-offs) −1.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

AAV screens 59% overvalued. Compare with CNOOC Limited →

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Cite: Fair Value Calculator (2026). "AAV.TO Fair Value". https://www.fairvalue-calculator.com/stock/AAV

Peer Group

Oil & Gas E&P · 328 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 50 · Above median
Fair Value upside −59% · Bottom 25%
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 29% · Above median
Revenue growth -4% · Below median
Debt / equity 0.32× · Higher than median

Valuation Multiples vs Oil & Gas E&P median · lower = cheaper

P/E (TTM) 15.4× · Pricier than median
P/B 0.78× · Cheaper than median
P/S (TTM) 2.08× · Pricier than median
EV/EBITDA 4.2× · Cheaper than median
PEG 0.24× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 13
FUTURE0 · sector 0
PAST26 · sector 0
HEALTH84 · sector 88
DIVIDEND0 · sector 60

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas E&P stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
CNOOC Limited 600938 ¥32.85 ¥32.55 -1%
ConocoPhillips explores for, COP $126.78 $90.15 -29%
Canadian Natural Resources Limited CNQ $47.57 $31.14 -35%
EOG Resources, Inc EOG $153.05 $130.19 -15%
Occidental Petroleum Corporation OXY $58.55 $30.06 -49%
Diamondback Energy, Inc FANG $210.02 $105.24 -50%
Devon Energy Corporation DVN $44.86 $27.06 -40%
Woodside Energy Group WDS A$32.55 A$20.71 -36%
EQT Corporation EQT $54.06 $42.85 -21%
Texas Pacific Land Corporation TPL $342.77 $77.26 -77%

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Frequently asked questions

Is AAV.TO (AAV) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of C$4.62 versus a price of C$11.20, about −59% (overvalued).
What is the fair value of AAV?
Our model-based fair value for AAV.TO is C$4.62 (as of Aug 13, 2026), built from audited fundamentals. The current price: C$11.20.
What is the quality score of AAV?
AAV.TO has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of AAV.TO (AAV)?
AAV.TO reported trailing-twelve-month revenue of about C$637M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of AAV?
The net profit margin of AAV.TO is about 17.5%, meaning it keeps roughly 17.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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