Financials ARC Resources Ltd.

Equities

ARX

CA00208D4084

Oil & Gas Exploration and Production

Market Closed - Toronto S.E. Other stock markets 16:15:13 2026-01-22 EST			5-day change	1st Jan Change
25.08 ^CAD	-1.76%		+7.87%	-2.60%

01-20	TSX Closer: The Index Slumps On Profit Taking and Geopolitical Tensions, Despite Elevated Commodity Prices	MT
12-31	TPH Energy Research With 2025 CDN Oil Sands and Upstream Recap	MT

Projected Income Statement: ARC Resources Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,167	4,573	6,781	4,566	4,099	5,939	5,970	6,155
Change	-	291.72%	48.3%	-32.67%	-10.23%	44.9%	0.52%	3.09%
EBITDA ¹	564.6	2,175	4,393	3,096	2,592	3,407	3,453	3,605
Change	-	285.28%	101.94%	-29.53%	-16.28%	31.46%	1.36%	4.39%
EBIT ¹	-709.3	1,112	2,978	1,690	706	1,789	1,709	1,845
Change	-	256.73%	167.9%	-43.26%	-58.22%	153.37%	-4.48%	7.98%
Interest Paid ¹	-45.6	-126.1	-97.2	-105.5	-133.8	-74	-98.5	-93.5
Earnings before Tax (EBT) ¹	-754.9	-	-	2,057	1,455	1,720	1,629	1,772
Change	-	-	-	-	-29.28%	18.2%	-5.31%	8.79%
Net income ¹	-547.2	786.6	2,302	1,596	1,124	1,291	1,268	1,257
Change	-	243.75%	192.69%	-30.66%	-29.59%	14.84%	-1.77%	-0.84%
Announcement Date	2/10/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	422	443.5	819.6	-	1,883	1,677	-	-	1,691	-	1,125	1,308	1,105	1,071	1,299	1,054	1,208	1,338	1,111	1,128	1,580	1,596	1,484	1,570	1,663	1,669	1,543	1,627
Change	-	5.09%	84.8%	-	-	-10.92%	-	-	-	-	-	16.3%	-15.52%	-3.08%	21.28%	-18.82%	14.59%	10.77%	-17%	1.58%	40.03%	1.03%	-7.05%	5.82%	5.91%	0.36%	-7.52%	5.4%
EBITDA ¹	288.3	367.3	126.9	458.5	1,223	1,071	1,337	1,437	1,368	956.4	613.6	757.6	782	679.6	497.9	581.3	818.4	932.5	719.5	751.2	865.1	857.1	787.9	836.9	902.1	898.7	861.3	885
Change	-	27.4%	-65.45%	261.31%	166.65%	-12.41%	24.85%	7.51%	-4.8%	-30.11%	-35.84%	23.47%	3.22%	-13.09%	-26.74%	16.75%	40.79%	13.94%	-22.84%	4.41%	15.16%	-0.92%	-8.08%	6.22%	7.79%	-0.38%	-4.15%	2.75%
EBIT ¹	-	-	-	-	-	-	-	-	978.7	-	265.3	392.7	428.4	339.4	183.3	247.8	302.9	583.2	373.1	402.2	470.6	445.8	359.3	401.5	435.8	491.7	449.3	451.3
Change	-	-	-	-	-	-	-	-	-	-	-	48.02%	9.09%	-20.77%	-45.99%	35.19%	22.24%	92.54%	-36.03%	7.8%	17.01%	-5.27%	-19.41%	11.77%	8.53%	12.81%	-8.62%	0.45%
Charge d'intérêts ¹	-9.9	-	-33.1	-	-	-	-	-	-25.5	-	-12.9	-13.8	-31.6	-31.2	-15.3	-16.7	-36.2	-28.7	-27.8	-28.7	-21	-22	-23	-22	-21	-	-	-
Earnings before Tax (EBT) ¹	150	234.7	-198	-	887.8	-	-	-	-	-	358.4	297.7	658.9	240.7	306.3	429	479	527.6	485.3	276.9	354.5	384.9	314.4	341.6	385.5	441.4	399	401
Change	-	56.47%	-184.36%	-	-	-	-	-	-	-	-	-16.94%	121.33%	-63.47%	27.25%	40.06%	11.66%	10.15%	-8.02%	-42.94%	28.04%	8.57%	-18.32%	8.63%	12.87%	14.49%	-9.6%	0.51%
Net income ¹	120.8	178	-123	-	678	-	-	-	741	-	278.9	236.4	506	185.4	239.5	328.9	370.3	404.7	396.1	214.4	276	307.7	239.6	273.9	298.5	341.8	308.9	310.5
Change	-	47.35%	-169.1%	-	-	-	-	-	-	-	-	-15.24%	114.04%	-63.36%	29.18%	37.33%	12.59%	9.29%	-2.13%	-45.87%	28.71%	11.49%	-22.13%	14.34%	8.97%	14.49%	-9.6%	0.51%
Announcement Date	2/10/21	5/5/21	7/29/21	11/4/21	2/10/22	5/5/22	7/28/22	11/3/22	2/9/23	5/4/23	8/2/23	11/2/23	2/8/24	5/9/24	8/1/24	11/6/24	2/6/25	5/1/25	7/31/25	11/6/25	-	-	-	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: ARC Resources Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	751	1,829	1,302	1,317	1,336	3,050	2,796	2,749
Change	-	143.54%	-28.81%	1.15%	1.44%	128.36%	-8.33%	-1.68%
Announcement Date	2/10/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

¹CAD in Million

Estimates

Cash Flow Forecast: ARC Resources Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	335.5	1,062	1,442	1,826	1,846	1,919	1,858	2,221
Change	-	216.48%	35.8%	26.64%	1.07%	3.98%	-3.2%	19.58%
Free Cash Flow (FCF) ¹	320.2	1,354	2,271	1,198	627	1,082	1,172	1,118
Change	-	322.74%	67.75%	-47.25%	-47.65%	72.5%	8.33%	-4.62%
Announcement Date	2/10/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-

¹CAD in Million

Estimates

Forecast Financial Ratios: ARC Resources Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	48.37%	47.57%	64.78%	67.8%	63.23%	57.36%	57.84%	58.57%
EBIT Margin (%)	-60.76%	24.31%	43.92%	37.01%	17.22%	30.12%	28.62%	29.97%
EBT Margin (%)	-64.67%	-	-	45.06%	35.5%	28.96%	27.28%	28.78%
Net margin (%)	-46.88%	17.2%	33.95%	34.97%	27.42%	21.73%	21.24%	20.43%
FCF margin (%)	27.43%	29.6%	33.48%	26.23%	15.3%	18.21%	19.62%	18.16%
FCF / Net Income (%)	-58.52%	172.08%	98.62%	75.02%	55.78%	83.79%	92.4%	88.88%
Profitability
ROA	-10.2%	-	-	-	-	-	-	-
ROE	-17.57%	-	36.21%	21.78%	14.62%	16.56%	13.56%	15.2%
Financial Health
Leverage (Debt/EBITDA)	1.33x	0.84x	0.3x	0.43x	0.52x	0.9x	0.81x	0.76x
Debt / Free cash flow	2.34x	1.35x	0.57x	1.1x	2.13x	2.82x	2.39x	2.46x
Capital Intensity
CAPEX / Current Assets (%)	28.74%	23.22%	21.26%	39.99%	45.02%	32.31%	31.11%	36.09%
CAPEX / EBITDA (%)	59.42%	48.81%	32.82%	58.99%	71.21%	56.33%	53.79%	61.62%
CAPEX / FCF (%)	104.78%	78.44%	63.5%	152.46%	294.34%	177.43%	158.55%	198.78%
Items per share
Cash flow per share ¹	1.889	3.494	5.6	4.323	4.15	5.319	5.398	6.011
Change	-	84.93%	60.29%	-22.81%	-3.99%	28.16%	1.48%	11.36%
Dividend per Share ¹	0.3	0.286	0.49	0.66	0.7	0.774	0.8274	0.8709
Change	-	-4.67%	71.33%	34.69%	6.06%	10.57%	6.89%	5.26%
Book Value Per Share ¹	-	-	-	-	13.48	14.38	14.88	15.91
Change	-	-	-	-	-	6.66%	3.46%	6.96%
EPS ¹	-1.55	1.25	3.47	2.61	1.88	2.354	2.218	2.318
Change	-	180.65%	177.6%	-24.78%	-27.97%	25.22%	-5.79%	4.51%
Nbr of stocks (in thousands)	353,376	698,660	625,814	600,775	592,192	571,371	571,371	571,371
Announcement Date	2/10/21	2/10/22	2/9/23	2/8/24	2/6/25	-	-	-