Spartan Delta Corp (SDE) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Spartan Delta Corp stock C$4.77, price C$11.16, that is 57.3% below the price, quality 49 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range C$1.39 – C$14.87 · fair‑value band C$3.57 – C$5.96 · the C$11.16 price screens above the C$4.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Spartan Delta Corp. engages in the exploration, development, and production of crude oil and natural gas properties in Western Canada. Its assets are in Duvernay and Deep Basin in Canada. The company was formerly known as Return Energy Inc. and changed its name to Spartan Delta Corp. in May 2020.
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Spartan Delta Corp. was incorporated in 2006 and is headquartered in Calgary, Canada.
Stock analysis
Spartan Delta Corp (SDE) currently trades at C$11.16, while our model-based Fair Value estimate is C$4.77, 57% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of C$13.96 per share, and 4 of the 14 models we run sit above the C$11.16 price.
Bear case: the Asset-Based group reads lowest at C$2.11, and 10 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: C$3.57 (bear) to C$5.96 (bull), the price of C$11.16 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Spartan Delta Corp reported revenue of C$370M in FY2025 versus C$619M in FY2021, a compound −12.1%/yr. Reported net income was C$70.0M in FY2025, compounding −32.3%/yr from FY2021.
Key figures
Market cap C$2.4B (≈ $1.7B) Small · P/E ratio 32.8 · P/S ratio 3.86 · EPS (TTM) C$0.3400 · Net margin 11.3% · Return on equity 10.3% · Return on assets (EBIT) 17.2% (5-year average) · Operating margin 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 69% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at 10% fair-value upside, at −57%, SDE screens richer than that median.
Fair Value models
BearC$3.57Fair Value C$4.77BullC$5.96
Price C$11.16 · Downside -57.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (C$0.2906 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.49/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−27.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−27.1%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−3% → 14%
⚠ Revenue per share shrinking 14.9%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
News mood ⓘNews mood, the average tone of recent news (25 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Oil & Gas E&P · 239 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Above median
Fair Value upside−57.3% · Bottom 25%
Profitability
Return on equity (12 months)10.3% · Above median
Return on assets6.0% · Above median
Net margin (12 months)11.3% · Below median
Operating margin (12 months)2.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)122.2% · Top 25%
Balance sheet
Debt / equity0.25× · Below median
Valuation Multiplesvs Oil & Gas E&P median · lower = cheaper
P/E (12 months)32.8× · Priciest 25%
P/B3.64× · Priciest 25%
P/S (12 months)3.86× · Pricier than median
EV/EBITDA7.6× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 22
FUTURE (revenue growth)100· sector 100
PAST (return on equity)41· sector 30
HEALTH (low debt)88· sector 85
DIVIDEND (yield)0· sector 72
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Spartan Delta Corp (SDE) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of C$4.77 versus a price of C$11.16, about 57% lower (overvalued).
What is the fair value of SDE?
Our model-based fair value for Spartan Delta Corp is C$4.77 (as of Nov 6, 2026), built from audited fundamentals. The current price: C$11.16.
What is the quality score of SDE?
Spartan Delta Corp has a Quality Score of 49/100. 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 price target for Spartan Delta Corp (SDE)?
Our model-based price target is the fair value of C$4.77 (as of Nov 6, 2026) from 14 valuation models. Cautious scenario C$3.57, optimistic scenario C$5.96. It is a calculation from audited fundamentals, not an analyst target.
What is the Spartan Delta Corp stock forecast for 2026?
Our models put fair value at C$4.77, about 57% lower versus a price of C$11.16 (overvalued). Cautious scenario C$3.57, optimistic scenario C$5.96. The calculation is refreshed regularly with new filings.
What is the revenue of Spartan Delta Corp (SDE)?
Spartan Delta Corp reported trailing-twelve-month revenue of about C$611M (latest available figure, as of Nov 6, 2026).
What is the intrinsic value of Spartan Delta Corp (SDE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Spartan Delta Corp it is C$4.77 per share (as of Nov 6, 2026), against a price of C$11.16. It is the blended result of 14 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Spartan Delta Corp stock overvalued or undervalued in 2026?
As of Nov 6, 2026, SDE trades above its calculated fair value: price C$11.16, fair value C$4.77, a gap of about −57% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SDE?
No. The price is what the market pays today (C$11.16); the fair value is what the company's own numbers justify (C$4.77). For Spartan Delta Corp the two are C$6.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is Spartan Delta Corp worth?
The market values Spartan Delta Corp at about C$2.4B (market capitalisation, as of Nov 6, 2026). Per share that is C$11.16; our models calculate a fair value of C$4.77 per share.
What do the bullish and bearish scenarios say about SDE?
Our models span a range for Spartan Delta Corp: cautious scenario C$3.57, base C$4.77, optimistic C$5.96 per share (as of Nov 6, 2026, price C$11.16). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SDE?
Spartan Delta Corp trades at a price-to-earnings ratio of 32.8 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$4.77 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings: 3.7. Other multiples: P/B 3.6, P/S 3.9, EV/EBITDA 7.6.
How solid is the balance sheet of Spartan Delta Corp (SDE)?
Balance-sheet figures for Spartan Delta Corp (as of Nov 6, 2026): return on equity 10.3%, debt of 0.25 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is SDE from its 52-week high?
Spartan Delta Corp trades at C$11.16, about 25% below its 52-week high of C$14.87 and 69% above the low of C$6.59 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$4.77 is for.
Which stocks are comparable to Spartan Delta Corp?
From the same area (Energy) we also value ConocoPhillips explores for,, CNOOC Limited, Canadian Natural Resources Limited, EOG Resources, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Spartan Delta Corp stock attractive at the current price?
The data as of Nov 6, 2026: price C$11.16, calculated fair value C$4.77 (−57%), Quality Score 49/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SDE calculated?
We run Spartan Delta Corp through 14 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of C$4.77 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Spartan Delta Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Spartan Delta Corp (SDE)?
The closing price on Nov 6, 2026 was C$11.16. Our model-based fair value is C$4.77, about 57% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Spartan Delta Corp right now?
The price sits above even our optimistic bull case (C$5.96). The favourable scenario is already priced in. Weak quality (49/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of Spartan Delta Corp
How large is the market capitalisation of Spartan Delta Corp (SDE)?
The market capitalisation of Spartan Delta Corp is C$2.4B (≈ $1.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Spartan Delta Corp (SDE)?
The price-to-sales ratio of Spartan Delta Corp is 3.86 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Spartan Delta Corp (SDE)?
Earnings per share at Spartan Delta Corp are C$0.3400 (price ÷ EPS = P/E 32.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Spartan Delta Corp (SDE)?
The net margin of Spartan Delta Corp is 11.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Spartan Delta Corp (SDE)?
The return on equity (ROE) of Spartan Delta Corp is 10.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Spartan Delta Corp (SDE)?
On an EBIT basis the return on assets of Spartan Delta Corp is 17.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Spartan Delta Corp (SDE)?
The operating margin of Spartan Delta Corp is 2.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Spartan Delta Corp (SDE)?
Revenue at Spartan Delta Corp is growing +122% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Spartan Delta Corp (SDE)?
Earnings per share at Spartan Delta Corp are growing −26.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Spartan Delta Corp (SDE) generate?
The free cash flow of Spartan Delta Corp is −C$96.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Spartan Delta Corp (SDE) carry?
The net debt of Spartan Delta Corp is C$37.2M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 6, 2026