Home / HWX.TO : TSX

AI Analysis Fundamentals Valuation Video Analysis Similar

AI Analysis

How does HWX.TO make money? Does HWX.TO have pricing power? What's the Earnings Whisper? Will HWX.TO profit more as the business scales? What is HWX.TO's management track record? Is HWX.TO's current price justified?

Headwater Exploration Inc.

CAD 14.67 +$5.13 (+53.77%)

TSX · 15 Sep 2026 20:00 UTC

Previous Close

CAD 13.85

Day Range

CAD 13.9CAD 14.71

Year Range

CAD 6.8CAD 14.71

Market Cap

3.49B

AVG Volume

698.77K

Trailing/Forward PE

18.81/10.26

PEG ratio

-27.08

Dividend Yield

3.07%

Next Earnings Date

2026-10-29

Primary Exchange

Toronto Stock Exchange

Revenue (CAD)

HWX.TO Revenue (CAD) by quarter
Period	Revenue (CAD)
26 Q2	237.93M
26 Q1	176.72M
25 Q4	128.2M
25 Q3	125.5M
25 Q2	144.94M
25 Q1	170.16M
24 Q4	163.11M
24 Q3	128.94M
24 Q2	164.28M
24 Q1	134.03M

Net Income (CAD)

HWX.TO Net Income (CAD) by quarter
Period	Net Income (CAD)
26 Q2	85.42M
26 Q1	35.57M
25 Q4	29.31M
25 Q3	35.87M
25 Q2	38.02M
25 Q1	50M
24 Q4	48.91M
24 Q3	47.63M
24 Q2	53.87M
24 Q1	37.62M

Operating Income (CAD)

HWX.TO Operating Income (CAD) by quarter
Period	Operating Income (CAD)
26 Q2	108.85M
26 Q1	63.47M
25 Q4	39.38M
25 Q3	49.82M
25 Q2	47.55M
25 Q1	69.96M
24 Q4	64.49M
24 Q3	60.72M
24 Q2	68.36M
24 Q1	47.43M

EBITDA (CAD)

HWX.TO EBITDA (CAD) by quarter
Period	EBITDA (CAD)
26 Q2	141.2M
26 Q1	75.57M
25 Q4	69.2M
25 Q3	82.26M
25 Q2	82.47M
25 Q1	97.97M
24 Q4	96.3M
24 Q3	94.87M
24 Q2	102.05M
24 Q1	80.25M

Cash Flows (CAD)

HWX.TO Cash Flows (CAD) by quarter
Period	Cash Flows (CAD)
26 Q2	53.01M
26 Q1	-26.67M
25 Q4	42.73M
25 Q3	33.16M
25 Q2	17.97M
25 Q1	7.09M
24 Q4	27.33M
24 Q3	37.08M
24 Q2	39.69M
24 Q1	-10.22M

EPS (CAD)

HWX.TO EPS (CAD) by quarter
Period	EPS (CAD)
26 Q2	0.36
26 Q1	0.15
25 Q4	0.12
25 Q3	0.15
25 Q2	0.16
25 Q1	0.21
24 Q4	0.21
24 Q3	0.2
24 Q2	0.22
24 Q1	0.16

Expenses (CAD)

HWX.TO Expenses (CAD) by quarter
Period	Expenses (CAD)
26 Q2	86.86M
26 Q1	86.94M
25 Q4	48.45M
25 Q3	63.38M
25 Q2	56.7M
25 Q1	68.06M
24 Q4	57.4M
24 Q3	62.39M
24 Q2	55.47M
24 Q1	70.59M

Cash & Debt (CAD)

HWX.TO Cash & Debt (CAD) by quarter
Period	Cash & Debt (CAD)
26 Q2	87.66M
26 Q1	63.06M
25 Q4	102M
25 Q3	124.35M
25 Q2	125.4M
25 Q1	125.55M
24 Q4	142.69M
24 Q3	136.59M
24 Q2	128.25M
24 Q1	126.93M

Debt ratios

HWX.TO Debt ratios by quarter
Period	Debt ratios
26 Q2	-0.23
26 Q1	-0.2
25 Q4	-0.27
25 Q3	-0.31
25 Q2	-0.3
25 Q1	-0.28
24 Q4	-0.34
24 Q3	-0.36
24 Q2	-0.34
24 Q1	-0.34

Margins

HWX.TO Margins by quarter
Period	Margins
26 Q2	58.91%
26 Q1	58.45%
25 Q4	43.6%
25 Q3	48.21%
25 Q2	49.31%
25 Q1	54.81%
24 Q4	54.7%
24 Q3	50.34%
24 Q2	55.19%
24 Q1	51.63%

Return on Capital

HWX.TO Return on Capital by quarter
Period	Return on Capital
26 Q2	10.49%
26 Q1	4.69%
25 Q4	3.92%
25 Q3	4.77%
25 Q2	5.17%
25 Q1	6.91%
24 Q4	6.99%
24 Q3	6.96%
24 Q2	8.18%
24 Q1	6.01%

Shares Outstanding

HWX.TO Shares Outstanding by quarter
Period	Shares Outstanding
26 Q2	237.76M
26 Q1	237.76M
25 Q4	238.14M
25 Q3	237.83M
25 Q2	237.76M
25 Q1	237.77M
24 Q4	237.51M
24 Q3	237.48M
24 Q2	237.28M
24 Q1	235.74M

Dividends (CAD)

HWX.TO Dividends (CAD) by quarter
Period	Dividends (CAD)
Sep 26	0.12
Jun 26	0.12
Mar 26	0.11
Dec 25	0.11
Sep 25	0.11
Jun 25	0.11
Mar 25	0.11
Dec 24	0.1
Sep 24	0.1
Jun 24	0.1

Book Value Per Share (CAD)

HWX.TO Book Value Per Share (CAD) by quarter
Period	Book Value Per Share (CAD)
26 Q2	3.43
26 Q1	3.19
25 Q4	3.14
25 Q3	3.16
25 Q2	3.09
25 Q1	3.04
24 Q4	2.94
24 Q3	2.88
24 Q2	2.78
24 Q1	2.65

Total Assets (CAD)

HWX.TO Total Assets (CAD) by quarter
Period	Total Assets (CAD)
26 Q2	1.1B
26 Q1	1.03B
25 Q4	995.17M
25 Q3	1.01B
25 Q2	982.73M
25 Q1	967.46M
24 Q4	952.64M
24 Q3	938.62M
24 Q2	902.31M
24 Q1	868.95M

PE Ratio

HWX.TO PE Ratio by quarter
Period	PE Ratio
Sep 26	23.73
Sep 26	23.15
Sep 26	24.36
Aug 26	24.5
Aug 26	24.36
Aug 26	22.77
Aug 26	21.95
Jul 26	22.7
Jul 26	23.08
Jul 26	21.88
Jul 26	21.09
Jul 26	20.41
Jun 26	18.78
Jun 26	19.06
Jun 26	20.13
Jun 26	20.1
May 26	19.49
May 26	20.08
May 26	20.67
May 26	19.49
May 26	20.91
Apr 26	19.73
Apr 26	17.92
Apr 26	18.75
Apr 26	19.4
Mar 26	18.15
Mar 26	17.6
Mar 26	17.22
Mar 26	16.91
Feb 26	17.29
Feb 26	16.47
Feb 26	15.92
Feb 26	15.8
Jan 26	15.14
Jan 26	14.96
Jan 26	14.27
Jan 26	13.06
Jan 26	13.13
Dec 25	12.1
Dec 25	11.7
Dec 25	11.72
Dec 25	12.23
Nov 25	11.49
Nov 25	11.16
Nov 25	10.5
Nov 25	10.02
Oct 25	9.53
Oct 25	9.42
Oct 25	8.97
Oct 25	9.31
Oct 25	9.74
Sep 25	9.3
Sep 25	8.96
Sep 25	8.58
Sep 25	7.89
Aug 25	8.08
Aug 25	8.23
Aug 25	8.13
Aug 25	8.15
Aug 25	8.38
Jul 25	8.59
Jul 25	8.48
Jul 25	8.26
Jul 25	7.96
Jun 25	8.69
Jun 25	9.06
Jun 25	8.88
Jun 25	8.3
May 25	7.88
May 25	7.92
May 25	7.93
May 25	7.62
May 25	7.36
Apr 25	7.3
Apr 25	7.38
Apr 25	6.9
Apr 25	6.64
Mar 25	8.26
Mar 25	8.21
Mar 25	8.04
Mar 25	7.77
Feb 25	8.18
Feb 25	8.54
Feb 25	8.67
Feb 25	8.56
Jan 25	8.61
Jan 25	8.98
Jan 25	9.06
Jan 25	9.56
Jan 25	8.76
Dec 24	8.26
Dec 24	7.95
Dec 24	8.52
Dec 24	8.67
Nov 24	8.75
Nov 24	9.18
Nov 24	8.82
Nov 24	8.71
Nov 24	8.56
Oct 24	8.57

Free Cash Flow Yield

HWX.TO Free Cash Flow Yield by quarter
Period	Free Cash Flow Yield
Sep 26	2.04%
Sep 26	2.09%
Sep 26	1.99%
Aug 26	1.98%
Aug 26	1.99%
Aug 26	2.13%
Aug 26	2.21%
Jul 26	2.13%
Jul 26	2.1%
Jul 26	2.21%
Jul 26	2.3%
Jul 26	2.37%
Jun 26	3.51%
Jun 26	3.46%
Jun 26	3.27%
Jun 26	3.28%
May 26	3.38%
May 26	3.28%
May 26	3.19%
May 26	3.38%
May 26	3.15%
Apr 26	3.34%
Apr 26	3.68%
Apr 26	3.52%
Apr 26	3.4%
Mar 26	2.73%
Mar 26	2.81%
Mar 26	2.88%
Mar 26	2.93%
Feb 26	2.86%
Feb 26	3.01%
Feb 26	3.11%
Feb 26	3.13%
Jan 26	3.27%
Jan 26	3.31%
Jan 26	3.47%
Jan 26	3.79%
Jan 26	3.77%
Dec 25	4.01%
Dec 25	4.14%
Dec 25	4.13%
Dec 25	3.96%
Nov 25	4.22%
Nov 25	4.34%
Nov 25	4.62%
Nov 25	4.84%
Oct 25	5.08%
Oct 25	5.15%
Oct 25	5.41%
Oct 25	5.2%
Oct 25	4.98%
Sep 25	5.96%
Sep 25	6.19%
Sep 25	6.47%
Sep 25	7.03%
Aug 25	6.87%
Aug 25	6.74%
Aug 25	6.83%
Aug 25	6.81%
Aug 25	6.62%
Jul 25	6.46%
Jul 25	6.54%
Jul 25	6.72%
Jul 25	6.97%
Jun 25	5.74%
Jun 25	5.51%
Jun 25	5.62%
Jun 25	6.02%
May 25	6.33%
May 25	6.3%
May 25	6.29%
May 25	6.55%
May 25	6.78%
Apr 25	6.84%
Apr 25	6.77%
Apr 25	7.24%
Apr 25	7.51%
Mar 25	7.93%
Mar 25	7.98%
Mar 25	8.15%
Mar 25	8.43%
Feb 25	8.01%
Feb 25	7.67%
Feb 25	7.56%
Feb 25	7.66%
Jan 25	7.61%
Jan 25	7.3%
Jan 25	7.23%
Jan 25	6.86%
Jan 25	7.48%
Dec 24	6.43%
Dec 24	6.69%
Dec 24	6.24%
Dec 24	6.13%
Nov 24	6.08%
Nov 24	5.79%
Nov 24	6.03%
Nov 24	6.11%
Nov 24	6.21%
Oct 24	6.21%

Price to Sales

HWX.TO Price to Sales by quarter
Period	Price to Sales
Sep 26	5.72
Sep 26	5.58
Sep 26	5.88
Aug 26	5.91
Aug 26	5.88
Aug 26	5.49
Aug 26	5.29
Jul 26	5.48
Jul 26	5.57
Jul 26	5.28
Jul 26	5.09
Jul 26	4.92
Jun 26	5.06
Jun 26	5.13
Jun 26	5.42
Jun 26	5.41
May 26	5.25
May 26	5.41
May 26	5.57
May 26	5.25
May 26	5.63
Apr 26	5.31
Apr 26	4.83
Apr 26	5.05
Apr 26	5.23
Mar 26	5.2
Mar 26	5.04
Mar 26	4.93
Mar 26	4.84
Feb 26	4.95
Feb 26	4.72
Feb 26	4.56
Feb 26	4.52
Jan 26	4.33
Jan 26	4.28
Jan 26	4.09
Jan 26	3.74
Jan 26	3.76
Dec 25	3.68
Dec 25	3.56
Dec 25	3.56
Dec 25	3.72
Nov 25	3.49
Nov 25	3.39
Nov 25	3.19
Nov 25	3.05
Oct 25	2.9
Oct 25	2.86
Oct 25	2.73
Oct 25	2.83
Oct 25	2.96
Sep 25	2.98
Sep 25	2.87
Sep 25	2.74
Sep 25	2.52
Aug 25	2.58
Aug 25	2.63
Aug 25	2.6
Aug 25	2.61
Aug 25	2.68
Jul 25	2.75
Jul 25	2.71
Jul 25	2.64
Jul 25	2.55
Jun 25	2.77
Jun 25	2.88
Jun 25	2.83
Jun 25	2.64
May 25	2.51
May 25	2.52
May 25	2.53
May 25	2.43
May 25	2.35
Apr 25	2.33
Apr 25	2.35
Apr 25	2.2
Apr 25	2.12
Mar 25	2.7
Mar 25	2.68
Mar 25	2.62
Mar 25	2.54
Feb 25	2.67
Feb 25	2.79
Feb 25	2.83
Feb 25	2.79
Jan 25	2.81
Jan 25	2.93
Jan 25	2.96
Jan 25	3.12
Jan 25	2.86
Dec 24	2.63
Dec 24	2.53
Dec 24	2.71
Dec 24	2.76
Nov 24	2.78
Nov 24	2.92
Nov 24	2.81
Nov 24	2.77
Nov 24	2.72
Oct 24	2.73

EV/EBITDA

HWX.TO EV/EBITDA by quarter
Period	EV/EBITDA
Sep 26	10.44
Sep 26	10.18
Sep 26	10.73
Aug 26	10.79
Aug 26	10.73
Aug 26	10.01
Aug 26	9.64
Jul 26	9.98
Jul 26	10.15
Jul 26	9.61
Jul 26	9.26
Jul 26	8.95
Jun 26	8.4
Jun 26	8.53
Jun 26	9.03
Jun 26	9.01
May 26	8.73
May 26	9.01
May 26	9.28
May 26	8.73
May 26	9.39
Apr 26	8.84
Apr 26	8.01
Apr 26	8.39
Apr 26	8.69
Mar 26	8.43
Mar 26	8.16
Mar 26	7.98
Mar 26	7.83
Feb 26	8.01
Feb 26	7.62
Feb 26	7.36
Feb 26	7.3
Jan 26	6.98
Jan 26	6.89
Jan 26	6.56
Jan 26	5.98
Jan 26	6.01
Dec 25	5.71
Dec 25	5.51
Dec 25	5.52
Dec 25	5.77
Nov 25	5.41
Nov 25	5.24
Nov 25	4.92
Nov 25	4.68
Oct 25	4.44
Oct 25	4.38
Oct 25	4.15
Oct 25	4.33
Oct 25	4.54
Sep 25	4.48
Sep 25	4.31
Sep 25	4.11
Sep 25	3.76
Aug 25	3.86
Aug 25	3.94
Aug 25	3.88
Aug 25	3.9
Aug 25	4.01
Jul 25	4.12
Jul 25	4.07
Jul 25	3.95
Jul 25	3.8
Jun 25	4.04
Jun 25	4.22
Jun 25	4.13
Jun 25	3.84
May 25	3.63
May 25	3.65
May 25	3.65
May 25	3.49
May 25	3.37
Apr 25	3.34
Apr 25	3.37
Apr 25	3.13
Apr 25	3
Mar 25	3.77
Mar 25	3.74
Mar 25	3.66
Mar 25	3.52
Feb 25	3.73
Feb 25	3.91
Feb 25	3.97
Feb 25	3.91
Jan 25	3.94
Jan 25	4.13
Jan 25	4.16
Jan 25	4.42
Jan 25	4.02
Dec 24	3.82
Dec 24	3.66
Dec 24	3.95
Dec 24	4.03
Nov 24	4.07
Nov 24	4.28
Nov 24	4.1
Nov 24	4.05
Nov 24	3.97
Oct 24	3.98

Price/Operating Cashflow

HWX.TO Price/Operating Cashflow by quarter
Period	Price/Operating Cashflow
Sep 26	12.23
Sep 26	11.93
Sep 26	12.56
Aug 26	12.63
Aug 26	12.56
Aug 26	11.73
Aug 26	11.31
Jul 26	11.7
Jul 26	11.89
Jul 26	11.28
Jul 26	10.87
Jul 26	10.52
Jun 26	9.62
Jun 26	9.76
Jun 26	10.31
Jun 26	10.29
May 26	9.98
May 26	10.29
May 26	10.59
May 26	9.98
May 26	10.71
Apr 26	10.1
Apr 26	9.18
Apr 26	9.6
Apr 26	9.94
Mar 26	10.44
Mar 26	10.12
Mar 26	9.9
Mar 26	9.73
Feb 26	9.94
Feb 26	9.47
Feb 26	9.16
Feb 26	9.09
Jan 26	8.71
Jan 26	8.6
Jan 26	8.21
Jan 26	7.51
Jan 26	7.55
Dec 25	7.2
Dec 25	6.97
Dec 25	6.98
Dec 25	7.28
Nov 25	6.84
Nov 25	6.64
Nov 25	6.25
Nov 25	5.97
Oct 25	5.68
Oct 25	5.61
Oct 25	5.34
Oct 25	5.55
Oct 25	5.8
Sep 25	5.62
Sep 25	5.41
Sep 25	5.18
Sep 25	4.77
Aug 25	4.88
Aug 25	4.98
Aug 25	4.91
Aug 25	4.93
Aug 25	5.06
Jul 25	5.19
Jul 25	5.13
Jul 25	4.99
Jul 25	4.81
Jun 25	5.16
Jun 25	5.38
Jun 25	5.27
Jun 25	4.93
May 25	4.68
May 25	4.7
May 25	4.71
May 25	4.52
May 25	4.37
Apr 25	4.33
Apr 25	4.38
Apr 25	4.09
Apr 25	3.94
Mar 25	4.6
Mar 25	4.57
Mar 25	4.48
Mar 25	4.33
Feb 25	4.56
Feb 25	4.76
Feb 25	4.83
Feb 25	4.77
Jan 25	4.79
Jan 25	5
Jan 25	5.04
Jan 25	5.32
Jan 25	4.88
Dec 24	4.79
Dec 24	4.61
Dec 24	4.94
Dec 24	5.03
Nov 24	5.07
Nov 24	5.33
Nov 24	5.12
Nov 24	5.05
Nov 24	4.96
Oct 24	4.97

Price to Book

HWX.TO Price to Book by quarter
Period	Price to Book
Sep 26	4.35
Sep 26	4.24
Sep 26	4.46
Aug 26	4.49
Aug 26	4.46
Aug 26	4.17
Aug 26	4.02
Jul 26	4.16
Jul 26	4.23
Jul 26	4.01
Jul 26	3.86
Jul 26	3.74
Jun 26	3.85
Jun 26	3.9
Jun 26	4.12
Jun 26	4.12
May 26	3.99
May 26	4.11
May 26	4.23
May 26	3.99
May 26	4.28
Apr 26	4.04
Apr 26	3.67
Apr 26	3.84
Apr 26	3.97
Mar 26	4.17
Mar 26	4.04
Mar 26	3.95
Mar 26	3.88
Feb 26	3.97
Feb 26	3.78
Feb 26	3.66
Feb 26	3.63
Jan 26	3.48
Jan 26	3.44
Jan 26	3.28
Jan 26	3
Jan 26	3.02
Dec 25	3.04
Dec 25	2.94
Dec 25	2.94
Dec 25	3.07
Nov 25	2.89
Nov 25	2.8
Nov 25	2.64
Nov 25	2.52
Oct 25	2.39
Oct 25	2.36
Oct 25	2.25
Oct 25	2.34
Oct 25	2.45
Sep 25	2.58
Sep 25	2.48
Sep 25	2.38
Sep 25	2.19
Aug 25	2.24
Aug 25	2.28
Aug 25	2.25
Aug 25	2.26
Aug 25	2.32
Jul 25	2.38
Jul 25	2.35
Jul 25	2.29
Jul 25	2.21
Jun 25	2.34
Jun 25	2.43
Jun 25	2.39
Jun 25	2.23
May 25	2.12
May 25	2.13
May 25	2.13
May 25	2.05
May 25	1.98
Apr 25	1.96
Apr 25	1.98
Apr 25	1.85
Apr 25	1.79
Mar 25	2.23
Mar 25	2.21
Mar 25	2.17
Mar 25	2.1
Feb 25	2.21
Feb 25	2.3
Feb 25	2.34
Feb 25	2.31
Jan 25	2.32
Jan 25	2.42
Jan 25	2.44
Jan 25	2.58
Jan 25	2.36
Dec 24	2.34
Dec 24	2.25
Dec 24	2.41
Dec 24	2.46
Nov 24	2.48
Nov 24	2.6
Nov 24	2.5
Nov 24	2.47
Nov 24	2.43
Oct 24	2.43

No video analysis for this stock yet. Request one from our team.

AI Analysis

Headwater Exploration Inc.

Video analysis: HWX.TO

Similar companies