Condor Energies (TSE:CDR)
TSX:CDR
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Condor Energies
(TSX:CDR)
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Rating:52Neutral
Price Target:
C$2.50
▼(-7.41% Downside)
Action:ReiteratedDate:04/09/26
The score is held back primarily by weak financial quality (net losses, sharply higher leverage, and deeply negative free cash flow). Technicals are a key positive with strong trend and momentum, but overbought indicators add near-term risk. Valuation is also constrained by negative earnings and no dividend yield data.
Positive Factors
Revenue growth / scaling
Revenue expansion from a very low base to ~C$66.6M (2024) and ~C$69.5M (2025) shows the company has commercialized more production and scaled operations since 2023. Durable top-line growth supports operational leverage, broader market foothold in Central Asia, and the potential to fund future development if sustained.
Negative Factors
Persistent net losses
Despite revenue and margin improvements, net income stayed negative in both years, implying non-operating charges (depreciation, financing, other items) still erode bottom-line results. Prolonged net losses limit equity rebuild, reduce retained earnings, and constrain the company's ability to self-fund growth or reduce leverage without external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth / scaling
Revenue expansion from a very low base to ~C$66.6M (2024) and ~C$69.5M (2025) shows the company has commercialized more production and scaled operations since 2023. Durable top-line growth supports operational leverage, broader market foothold in Central Asia, and the potential to fund future development if sustained.
Read all positive factors
Condor Energies (CDR) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$182.57M
Dividend YieldN/A
Average Volume (3M)47.69K
Price to Earnings (P/E)―
Beta (1Y)1.21
Revenue Growth26.10%
EPS Growth1.12%
CountryCA
Employees194
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.03
Shares Outstanding68,378,784
10 Day Avg. Volume21,369
30 Day Avg. Volume47,694
Financial Highlights & Ratios
PEG Ratio2.54
Price to Book (P/B)11.09
Price to Sales (P/S)1.89
P/FCF Ratio-4.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$4.75Price Target Upside75.93% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.06
Revenue Forecast (FY)C$75.17M
Condor Energies Business Overview & Revenue Model
Company Description
Condor Energies Inc., an oil and gas company, engages in the exploration, development, and production of oil and gas properties in Turkey and Kazakhstan. It owns 100% interests in the Poyraz Ridge and Destan operating licenses located in the Galli...
How the Company Makes Money
null...
Condor Energies Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
38
Negative
Cash Flow
46
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 69.54M | 66.63M | 552.00K | 3.61M | 883.00K |
| Gross Profit | 17.16M | 22.26M | -5.21M | 1.47M | -3.33M |
| EBITDA | 20.20M | 14.95M | -9.06M | -1.98M | -7.78M |
| Net Income | -4.21M | -4.07M | -11.39M | -3.06M | -11.33M |
Balance Sheet | |||||
| Total Assets | 98.42M | 66.61M | 6.77M | 10.06M | 8.70M |
| Cash, Cash Equivalents and Short-Term Investments | 18.52M | 27.84M | 5.04M | 3.75M | 4.62M |
| Total Debt | 30.39M | 13.19M | 5.55M | 192.00K | 0.00 |
| Total Liabilities | 76.61M | 45.55M | 9.30M | 3.77M | 3.68M |
| Stockholders Equity | 11.86M | 13.33M | -2.53M | 6.30M | 5.02M |
Cash Flow | |||||
| Free Cash Flow | -30.99M | -2.92M | -5.57M | -4.88M | -6.19M |
| Operating Cash Flow | 22.32M | 5.36M | -5.35M | -3.17M | -6.10M |
| Investing Cash Flow | -45.43M | -7.35M | -1.08M | -1.21M | -2.00M |
| Financing Cash Flow | 14.31M | 24.11M | 7.72M | 3.41M | 356.00K |
Condor Energies Technical Analysis
Positive
2.70
Price Trends
2.25
Positive
2.07
Positive
1.90
Positive
Market Momentum
0.23
Positive
54.56
Neutral
42.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CDR, the sentiment is Positive. The current price of 2.7 is below the 20-day moving average (MA) of 2.76, above the 50-day MA of 2.25, and above the 200-day MA of 1.90, indicating a bullish trend. The MACD of 0.23 indicates Positive momentum. The RSI at 54.56 is Neutral, neither overbought nor oversold. The STOCH value of 42.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CDR.
Condor Energies Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | C$144.56M | 7.07 | 2.57% | ― | -13.30% | -44.54% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
61 Neutral | C$150.13M | 14.68 | -37.75% | 0.66% | 12.23% | -424.88% | |
55 Neutral | C$245.27M | -9.66 | -3.24% | ― | -9.96% | -270.60% | |
54 Neutral | C$408.09M | 43.82 | -4.77% | ― | ― | 95.40% | |
52 Neutral | C$182.57M | -31.23 | -32.88% | ― | 26.10% | 1.12% | |
47 Neutral | C$128.55M | -0.46 | -10.07% | ― | 107.18% | -976.02% |
* Energy Sector Average
TSE:CDR
Condor Energies
2.60
1.05
67.74%
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Condor Energies Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Condor Energies Upsizes Bought-Deal Financing to $26 Million for Uzbekistan Gas Expansion
Positive
Apr 14, 2026
Condor Energies has upsized its previously announced bought-deal public offering to raise gross proceeds of $26 million, reflecting stronger investor demand for its equity financing. The company has also granted underwriters an option for addition...
Business Operations and StrategyPrivate Placements and Financing
Condor Energies launches $15 million bought deal to fund Uzbek gas expansion
Positive
Apr 14, 2026
Condor Energies has launched a bought deal public offering of 5,770,000 common shares at $2.60 per share, aiming to raise about $15 million, with an over-allotment option that could add roughly $2.25 million. Net proceeds are earmarked primarily f...
Business Operations and StrategyFinancial Disclosures
Condor Energies Hits Record 14,000 boe/d Output in Uzbekistan on New Kumli Well
Positive
Apr 13, 2026
Condor Energies has set a new production record in Uzbekistan, surpassing 14,000 boe/d after bringing its Kumli-46 horizontal gas well onstream. The well, which initially peaked at 18.3 MMscf/d, has boosted corporate output by about 32% versus the...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Endeavour Silver Lifts Q1 Output as Terronera and Kolpa Ramp Up
Positive
Apr 8, 2026
Endeavour Silver reported first-quarter 2026 production of 1.88 million ounces of silver and 11,740 ounces of gold, translating to 3.3 million silver-equivalent ounces, a sharp increase over the prior year driven by new contributions from the Terr...
Business Operations and Strategy
Condor Energies’ Kumli-46 Well Delivers Strong Gas Flow in Uzbekistan
Positive
Apr 8, 2026
Condor Energies reported strong test results from its Kumli-46 horizontal gas well in Uzbekistan, which flowed at up to 18.3 MMscf per day before being choked back and delivered a stabilized rate of 15.5 MMscf per day. The well’s estimated a...
Business Operations and StrategyExecutive/Board Changes
Condor Energies Advances Uzbekistan Gas Drilling and Names New COO
Positive
Apr 1, 2026
Condor Energies has drilled its third horizontal well, Kumli-46, to a total depth of 3,150 meters on its Uzbekistan gas project, following promising results from the offset Kumli-45 vertical well. The new well encountered strong gas shows along it...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Condor Energies Boosts Uzbekistan Output and Advances LNG Strategy
Positive
Mar 20, 2026
Condor Energies reported a strong 2025, with Uzbekistan production averaging 10,484 boe/d and climbing to 12,622 boe/d in March 2026 as new horizontal and vertical wells boosted output and sales. A multi-well drilling program, planned field booste...
Business Operations and Strategy
Condor Extends Kumli Field as High-Rate Well Boosts Uzbek Gas Ambitions
Positive
Feb 17, 2026
Condor Energies has extended the productive limits of Uzbekistan’s Kumli Northwest gas field after its Kumli-45 vertical well tested at a stabilized rate of 5.3 million cubic feet per day. The well encountered higher-than-expected reservoir ...
Business Operations and StrategyM&A Transactions
Condor Energies Advances Record-Setting Uzbek Drilling and Exits Turkish Gas Assets via Royalty Deal
Positive
Jan 29, 2026
Condor Energies has reported a significant milestone in its Uzbekistan drilling campaign, with its second well, Andakli-21, reaching total depth and setting a national record for the longest horizontal section drilled in the country. The well inte...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.