Enerplus's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Enerplus (ERF) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Enerplus vs Its Competitors
- TTM: Trailing 12-month revenue of 1,694M vs 80,026M combined for its competitors (2.1% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months), vs accelerating (+278.3%) for its tracked peer group.
- Profitability: Its 26.9% net margin compares with 13.5% for the peer group.
- Peer revenue share: Enerplus accounted for 2.2% of combined revenue among its tracked peer group.
- Peer differentiation: Revenue per employee of $3.68M compares with $6.41M for the peer group (0.6x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
ERF Sales vs. its Competitors, Q4 2023
With a net margin of 26.92 %, Enerplus achieved higher profitability than its competitors (13.51 %).
Enerplus generated 2.19 % of the combined sales of its peer group.
API endpoints for this dataset
Enerplus vs. its Competitors, Q4 2023
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Enerplus reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Enerplus and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Enerplus Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Enerplus's competitor groups requires a Commercial License.
Enerplus's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Enerplus Corporation | Yes | No | No | No |
| Competitors combined (10) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 0.00 % (0 of 8) | 37.50 % (3 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
ERF Stock Performance relative to its Competitors
ERF Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Greenfire Resources Ltd | 282.9% | Outperformed |
| 2 | Ovintiv Inc | 282.9% | Outperformed |
| 3 | Baytex Energy Corp | 282.9% | Outperformed |
| 4 | Cenovus Energy Inc | 282.9% | Outperformed |
| 5 | Ckx Lands Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Enerplus's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Enerplus Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Enerplus Corporation |
4,377.53 | 1,694.33 |
 Canadian Natural Resources Limited |
103,028.16 | 27,750.40 |
 Cenovus Energy Inc |
52,575.78 | 35,578.25 |
 Ovintiv Inc |
17,870.71 | 10,294.00 |
 Matador Resources Company |
6,556.68 | 3,645.04 |
 Baytex Energy Corp |
3,330.55 | 1,060.14 |
| SUBTOTAL | 190,024.32 | 81,720.07 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Enerplus Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Enerplus's Competitors Named by the Company
Competitive relationships identified from Enerplus reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Matador Resources Company | Company report | 85% |
| Vital Energy inc | Company report | 85% |
| Murphy Oil Corporation | Company report | 85% |
| Ovintiv Inc | Company report | 85% |
| Silverbow Resources Inc | Company report | 85% |
| Hess Corporation | Company report | 85% |
| Kosmos Energy Ltd | Company report | 85% |
| Permian Resources Corporation | Company report | 85% |
| Sm Energy Co | Company report | 85% |
| Riley Exploration Permian Inc | Company report | 85% |
| Apa Corporation | Company report | 85% |
| Coterra Energy Inc | Company report | 85% |
| Ring Energy Inc | Company report | 85% |
| Diamondback Energy Inc | Company report | 85% |
| Eog Resources Inc | Company report | 85% |
| Antero Resources Corporation | Company report | 85% |
| Extraction Oil and Gas Inc | Company report | 85% |
| Range Resources Corporation | Company report | 85% |
| Northern Oil And Gas Inc | Company report | 85% |
| Earthstone Energy Inc | Company report | 85% |
| Pioneer Natural Resources Co | Company report | 85% |
| Devon Energy Corp | Company report | 85% |
| Cimarex Energy Co | Company report | 85% |
| Marathon Oil Corporation | Company report | 85% |
| Gulfport Energy Corporation | Company report | 85% |
| Callon Petroleum Co | Company report | 85% |
| Eqt Corporation | Company report | 85% |
| Occidental Petroleum Corporation | Company report | 85% |
| Talos Energy Inc | Company report | 85% |
| Civitas Resources inc | Company report | 85% |
| Comstock Resources Inc | Company report | 85% |
| Granite Ridge Resources Inc | Company report | 85% |
| Continental Resources Inc | Company report | 85% |
| Vermilion Energy inc | Company report | 85% |
| Crescent Energy Company | Company report | 85% |
| Exxon Mobil Corporation | Company report | 85% |
| Highpeak Energy Inc | Company report | 85% |
| Southwestern Energy Company | Company report | 85% |
| Cenovus Energy Inc | Company report | 85% |
| Pdc Energy Inc | Company report | 85% |
| Lonestar Resources Us Inc | Company report | 85% |
| California Resources Corp | Company report | 85% |
| Greenfire Resources Ltd | Company report | 85% |
| Canadian Natural Resources Limited | Company report | 85% |
| Cnx Resources Corporation | Company report | 85% |
| Expand Energy Corporation | Company report | 85% |
| Chevron Corp | Company report | 85% |
| Magnolia Oil and Gas Corp | Company report | 85% |
| Conocophillips | Company report | 85% |
| Abraxas Petroleum Corp | Company report | 85% |
| Baytex Energy Corp | Company report | 85% |
| Denbury Inc | Company report | 85% |
| Berry Corporation bry | Company report | 85% |
| Bp Plc | Company report | 85% |
| Royale Energy Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Enerplus's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Enerplus's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Ovintiv Inc | USA Operations Excluding Intercompany Segment Transactions 56.23 % |
| Ckx Lands Inc | Surface Segment 77.69 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Enerplus's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Enerplus Corporation | 4,378 | 3,683,333 | 991,470 |
| Canadian Natural Resources Limited | 103,028 | 4,141,851 | 1,156,154 |
| Cenovus Energy Inc | 52,576 | 17,789,124 | 1,406,778 |
| Ovintiv Inc | 17,871 | 7,026,621 | 901,706 |
| Matador Resources Company | 6,557 | 7,546,658 | 1,685,294 |
| Baytex Energy Corp | 3,331 | 3,222,315 | -1,313,848 |
| PEERS TOTAL | 185,647 | 6,407,185 | 943,196 |
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Enerplus's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Oil And Gas Production industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (246 companies). See the full Oil And Gas Production industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 77.00 % | 26.43 % (avg) | +50.6 pp |
| Operating Margin | 46.75 % | industry median | +23.1 pp |
| EBITDA Margin | 34.62 % | 18.63 % (avg) | +16.0 pp |
| Capital Intensity (Capex / Revenue) | 0.00 % | 27.05 % (avg) | -27.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Enerplus's Valuation vs Competitive Position
Valuation multiples vs the Oil And Gas Production industry average (246 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Oil And Gas Production industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 7.8x | 15.8x | -8.1x |
| EV / EBITDA | 6.4x | 9.7x | -3.3x |
| P/B | 2.9x | 1.9x | +1.0x |
| Return on Equity | 37.16 % | industry aggregate | 19.36 % |
| Return on Invested Capital | 27.20 % | 0.98 % (avg) | 26.22 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Enerplus's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue Growth | 91.93 % | 78.43 % | -21.40 % |
| Operating Margin | - | - | 46.75 % |
| Return on Invested Capital | - | - | 27.20 % |
| P/E | 10.8x | 4.6x | 7.8x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Enerplus's Strategic Group Map
Enerplus is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Enerplus's trailing-12-month revenue growth of -21.4% and operating margin of 46.8% compares with an average of -8.7% growth and 50.5% margin across its 8 closest peers by combined growth, margin and ROIC -- Enerplus sits below that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Enerplus's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.00 % vs industry average 27.05 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Enerplus's dedicated Suppliers and Customers pages, not here.
Enerplus's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Enerplus falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Enerplus's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 23.1 points above the industry median.
- Return on equity 19.4 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months).
Weaknesses
No rule matched.
Opportunities
- Trades at a lower P/E than the industry average (7.8x vs 15.8x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Enerplus's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Enerplus Corporation | 0.14 | 0.80 | 0.22 |
| Canadian Natural Resources Limited | 0.08 | 0.95 | 0.66 |
| Cenovus Energy Inc | 0.43 | 1.57 | 0.38 |
| Ovintiv Inc | 0.09 | 0.71 | 0.41 |
| Matador Resources Company | 0.02 | 0.72 | 0.36 |
| Baytex Energy Corp | 2.89 | 3.61 | - |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Enerplus's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Enerplus Corporation | Q4 2023 | -21.4 % | -50.1 % |
| Canadian Natural Resources Limited | Q4 2025 | +6.6 % | +73.7 % |
| Cenovus Energy Inc | Q4 2025 | -10.2 % | +22.6 % |
| Ovintiv Inc | Q3 2026 | +25.9 % | +270.9 % |
| Matador Resources Company | Q2 2026 | +32.5 % | +126.8 % |
| Baytex Energy Corp | Q4 2025 | -10.0 % | - |
| PEERS TOTAL | -2.9 % | +34.7 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Enerplus's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Enerplus Corporation | Q4 2023 | - | - |
| Canadian Natural Resources Limited | Q4 2025 | - | - |
| Cenovus Energy Inc | Q4 2025 | +17.3 % | - |
| Ovintiv Inc | Q3 2026 | -8.6 % | - |
| Matador Resources Company | Q2 2026 | - | +273.2 % |
| Baytex Energy Corp | Q4 2025 | - | - |
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Enerplus's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Enerplus Corporation | 22.05% | 27.07% | 37.16% |
| Canadian Natural Resources Limited | 11.57% | 11.41% | 23.94% |
| Cenovus Energy Inc | 6.08% | 7.22% | 12.20% |
| Ovintiv Inc | 6.48% | 6.99% | 11.52% |
| Matador Resources Company | 6.64% | 9.07% | 13.56% |
| Baytex Energy Corp | - | - | - |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Enerplus's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Enerplus Corporation | 9.61 | 2.58 |
| Canadian Natural Resources Limited | 9.52 | 3.71 |
| Cenovus Energy Inc | 13.44 | 1.48 |
| Ovintiv Inc | 13.24 | 1.74 |
| Matador Resources Company | 9.67 | 1.80 |
| Baytex Energy Corp | - | 3.14 |
| PEERS AVERAGE | 15.53 | 2.33 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.