WCP FINANCIAL STATEMENTS

Whitecap Resources Inc. — balance sheet, income statement and cash flow trends

WCPWhitecap Resources Inc.

🇨🇦 Canada · TO · Energy · Oil & Gas E&P

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue6.3 B C$+86.1%

Gross Profit2.4 B C$+14.1%

Operating Income1.5 B C$-23.7%

EBITDA3.4 B C$+62.6%

Net Income844.3 M C$-7.7%

Peer Comparison· Oil & Gas E&P

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
WCP	86.1%	38.4%	53.2%	13.3%
APA	-17.4%	53.9%	65.4%	17.8%
OVV	-2.6%	47.0%	30.5%	8.6%
STO	-6.6%	32.0%	62.9%	16.3%
AR	23.1%	26.0%	39.8%	17.5%
PR	-1.1%	35.9%	65.3%	12.8%
Industry median	-1.0%	38.9%	51.0%	12.6%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
WCP	86.1%	38.4%	53.2%	13.3%
ARX	20.9%	42.0%	55.5%	22.2%
TOU	28.2%	7.4%	70.7%	12.8%
PSK	-0.8%	75.8%	90.9%	42.8%
TVE	-15.4%	38.9%	41.5%	-6.6%
PEY	26.2%	52.5%	84.2%	40.5%
Industry median	-1.0%	38.9%	51.0%	12.6%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity10.8 B C$55%
Current Liabilities2.4 B C$12%
Long-term Liabilities6.5 B C$33%

Key Figures

YoY change

Total Assets19.7 B C$+101.0%

Total Liabilities8.9 B C$+122.7%

Total Equity10.8 B C$+86.1%

Cash & ST Investments73 M C$—

Total Debt3.6 B C$+278.7%

Net Debt3.5 B C$+271.0%

Peer Comparison· Oil & Gas E&P

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
WCP	0.54	33.0%	1.04	55.0%
APA	0.92	70.3%	0.75	35.7%
OVV	0.56	66.6%	2.81	51.8%
STO	1.53	48.1%	1.83	48.9%
AR	0.40	58.9%	—	52.5%
PR	0.66	32.7%	1.07	63.0%
Industry median	0.83	38.1%	1.03	52.5%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
WCP	0.54	33.0%	1.04	55.0%
ARX	0.87	43.6%	1.03	54.4%
TOU	0.88	7.1%	—	69.2%
PSK	0.83	9.4%	—	80.0%
TVE	0.69	37.6%	1.09	51.6%
PEY	1.37	36.6%	1.05	54.1%
Industry median	0.83	38.1%	1.03	52.5%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow3.5 B C$+98.5%

Capital Expenditures2.4 B C$+106.1%

Free Cash Flow1.2 B C$+84.9%

Dividends Paid-849.6 M C$-296.9%

Peer Comparison· Oil & Gas E&P

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
WCP	55.6%	18.5%	37.2%	417.6%
APA	46.5%	17.2%	29.2%	261.1%
OVV	42.6%	42.7%	37.5%	493.9%
STO	51.0%	13.9%	39.0%	311.7%
AR	37.1%	32.3%	5.9%	211.3%
PR	69.4%	6.7%	62.7%	542.7%
Industry median	49.1%	15.4%	36.0%	195.0%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
WCP	55.6%	18.5%	37.2%	417.6%
ARX	47.7%	18.6%	29.1%	215.3%
TOU	58.6%	7.2%	51.4%	458.1%
PSK	73.2%	67.1%	6.1%	170.9%
TVE	53.8%	28.8%	25.1%	-815.8%
PEY	77.4%	33.1%	44.3%	191.2%
Industry median	49.1%	15.4%	36.0%	195.0%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.