Vista Energy, S.A.B. de C.V. (NYSE: VIST)

Sector: Energy Industry: Oil & Gas E&P CIK: 0001762506
Market Cap 5.52 Bn
P/B 2.29
P/E 7.59
P/S 2.48
ROIC (Qtr) 16.50
Div Yield % 0.00
Rev 1y % (Qtr) 52.72
Total Debt (Qtr) 2.99 Bn
Debt/Equity (Qtr) 1.24
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About

Investment thesis

Bull case

  • Operating cash flow of 730.38M provides strong 16.52x coverage of stock compensation 44.20M, indicating sustainable incentive practices.
  • Strong operating cash flow of 730.38M provides 2.22x coverage of SG&A expenses 329.11M, showing efficient operational cost management.
  • Operating cash flow of 730.38M fully covers other non-current liabilities 705.70M by 1.03x, showing strong long-term stability.
  • Operating cash flow of 730.38M provides strong 57.19x coverage of inventory 12.77M, indicating efficient inventory management.
  • Operating cash flow of 730.38M provides solid 0.60x coverage of current liabilities 1.21B, showing strong operational health.

Bear case

  • Operating cash flow of 730.38M barely covers its investment activities of (2.30B), with a coverage ratio of -0.32, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (2.30B) provide weak support for R&D spending of 590000, which is -3901.33x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 319.66M provide limited coverage of acquisition spending of (889.36M), which is -0.36x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • High receivables of 785.86M relative to inventory of 12.77M (61.53 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Free cash flow of (692.36M) provides weak coverage of capital expenditures of 1.42B, with a -0.49 ratio suggesting additional external financing needs for growth initiatives.

Products and services [axis] Breakdown of Revenue (2023)

Sales channels [axis] Breakdown of Revenue (2023)

Peer comparison

Companies in the Oil & Gas E&P
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 COP Conocophillips 136.62 Bn 17.10 2.22 23.44 Bn
2 CNQ Canadian Natural Resources Ltd 85.21 Bn 17.67 3.04 12.51 Bn
3 EOG Eog Resources Inc 66.33 Bn -60.48 8.67 8.13 Bn
4 FANG Diamondback Energy, Inc. 49.64 Bn -2,818.83 314.47 16.24 Bn
5 OXY Occidental Petroleum Corp /De/ 37.18 Bn 15.36 2.56 22.88 Bn
6 WDS Woodside Energy Group Ltd 34.64 Bn 11.73 2.51 -
7 TPL Texas Pacific Land Corp 29.74 Bn 126.16 78.66 0.02 Bn
8 DVN Devon Energy Corp/De 18.80 Bn 3.24 1.91 8.55 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.19 1.02
EV to Cash from Ops. EV/CFO 11.01 18.21
EV to Debt EV to Debt 2.69 54.57
EV to EBIT EV/EBIT 7.12 29.98
EV to EBITDA EV/EBITDA 4.41 19.64
EV to Free Cash Flow [EV/FCF] EV/FCF -11.61 39.33
EV to Market Cap EV to Market Cap 1.46 1.57
EV to Revenue EV/Rev 3.61 11.47
Price to Book Value [P/B] P/B 2.29 2.97
Price to Earnings [P/E] P/E 7.59 -25.98
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 26.80
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 31.86
Dividend per Basic Share Div per Share (Qtr) 0.00 0.78
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 1.05
Interest Coverage Int. cover (Qtr) 8.15 -4.97
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -45.61 -533.65
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 24.85 52.06
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -5.45
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 50.26 6.14
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 73.49 105.89
EBIT Growth (1y) % EBIT 1y % (Qtr) 67.00 75.94
EBT Growth (1y) % EBT 1y % (Qtr) 56.40 17.44
EPS Growth (1y) % EPS 1y % (Qtr) 31.78 3.07
FCF Growth (1y) % FCF 1y % (Qtr) -1,594.75 -43.36
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 38.98 149.32
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.33 0.33
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.07
Cash Ratio Cash Ratio (Qtr) 0.26 1.32
Current Ratio Curr Ratio (Qtr) 0.62 2.37
Debt to Equity Ratio Debt/Equity (Qtr) 1.24 0.34
Interest Cover Ratio Int Coverage (Qtr) 8.15 -4.97
Times Interest Earned Times Interest Earned (Qtr) 8.15 -4.97
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 80.10 16.19
EBIT Margin % EBIT Margin % (Qtr) 50.73 -16.83
EBT Margin % EBT Margin % (Qtr) 44.51 -24.06
Gross Margin % Gross Margin % (Qtr) 47.20 58.92
Net Profit Margin % Net Margin % (Qtr) 32.70 -28.75