Surge Energy Inc (ZPTAF) fair value: what the stock is really worth
As of Jul 17, 2026: fair value of Surge Energy Inc $11.71, price $6.70, upside +74.8%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Surge Energy Inc
ZPTAF · USCheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $2.13 – $8.13 · fair‑value band $7.02 – $15.22 · the $6.70 price screens below the $11.71 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Surge Energy Inc. engages in the exploration, development, and production of oil and gas properties in Western Canada. It holds interests in the oil and natural gas producing properties located in Sparky Alberta and Southeast Saskatchewan, as well as in Greater Sawn and Nevis, and Manitoba properties.
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Surge Energy Inc. engages in the exploration, development, and production of oil and gas properties in Western Canada. It holds interests in the oil and natural gas producing properties located in Sparky Alberta and Southeast Saskatchewan, as well as in Greater Sawn and Nevis, and Manitoba properties. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc. in June 2010. Surge Energy Inc. was incorporated in 1998 and is headquartered in Calgary, Canada.
Stock analysis
Surge Energy Inc (ZPTAF) currently trades at $6.70, while our model-based Fair Value estimate is $11.71, implying the stock looks roughly 42.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $12.41 per share, and 15 of the 26 models we run sit above the $6.70 price.
Bear case: the Economic Profit group reads lowest at $3.01, and 11 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $7.02 (bear) to $15.22 (bull), the price of $6.70 sits below 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 47/100 (below-average quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Surge Energy Inc reported revenue of C$480M in FY2025 versus C$415M in FY2021, a compound +3.7%/yr. Reported net income was C$40.2M in FY2025, compounding −44.0%/yr from FY2021.
Key figures
Market cap $676M · P/E ratio 134.0 · P/S ratio 11.2 · EPS (TTM) $0.0500 · Dividend yield 7.8% · Net margin 8.4% · Return on equity 1.0% · Return on assets (EBIT) 9.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (medium confidence).
What moves the price
The share trades about 11% below its 52-week high and 52% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at 10% fair-value upside, at 75%, ZPTAF screens cheaper than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 77
Revenue & earnings trend
Growth Forecast
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Compare Surge Energy Inc with another stock
Price, fair value, quality and upside side by side.
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 · 287 stocks
Valuation Multiplesvs Oil & Gas E&P median · lower = cheaper
Context: sector, industry, market
- Is the Energy sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Energy
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas E&P stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ConocoPhillips explores for, COP | $127.06 | $91.42 | −28% |
| CNOOC Limited 0883 | HK$23.40 | HK$39.91 | +71% |
| Canadian Natural Resources Limited CNQ | $47.55 | $52.31 | +10% |
| EOG Resources, Inc EOG | $137.76 | $165.02 | +20% |
| Occidental Petroleum Corporation OXY | $57.84 | $33.18 | −43% |
| Devon Energy Corporation DVN | $46.73 | $51.40 | +10% |
| Diamondback Energy, Inc FANG | $185.23 | $243.76 | +32% |
| Woodside Energy Group WDS | A$31.48 | A$23.87 | −24% |
| EQT Corporation EQT | $50.09 | $55.10 | +10% |
| Texas Pacific Land Corporation TPL | $336.46 | $317.06 | −6% |
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Key figures of Surge Energy Inc
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