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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 year
Period	Revenue (CAD)
2025	568.8M
2024	590.37M
2023	511.23M
2022	458.38M
2021	190.94M
2020	9.5M
2019	9.33M
2018	16.94M
2017	7.67M
2016	13.54M

Net Income (CAD)

HWX.TO Net Income (CAD) by year
Period	Net Income (CAD)
2025	153.21M
2024	188.03M
2023	156.07M
2022	162.11M
2021	45.83M
2020	6.71M
2019	2.81M
2018	-314K
2017	17.74M
2016	-29.29M

Operating Income (CAD)

HWX.TO Operating Income (CAD) by year
Period	Operating Income (CAD)
2025	206.7M
2024	241M
2023	184.49M
2022	207.77M
2021	69.59M
2020	-9.35M
2019	-1.87M
2018	5.94M
2017	-1.48M
2016	-1.11M

EBITDA (CAD)

HWX.TO EBITDA (CAD) by year
Period	EBITDA (CAD)
2025	331.91M
2024	373.47M
2023	326.08M
2022	291.97M
2021	95.66M
2020	5.46M
2019	8.4M
2018	2.42M
2017	18.18M
2016	-12.41M

Cash Flows (CAD)

HWX.TO Cash Flows (CAD) by year
Period	Cash Flows (CAD)
2025	100.95M
2024	93.87M
2023	63.25M
2022	35M
2021	-28.73M
2020	-34.83M
2019	8.15M
2018	9.62M
2017	976K
2016	3.12M

EPS (CAD)

HWX.TO EPS (CAD) by year
Period	EPS (CAD)
2025	0.64
2024	0.79
2023	0.66
2022	0.69
2021	0.2
2020	-0
2019	0.03
2018	-0
2017	0.2
2016	-0.19

Expenses (CAD)

HWX.TO Expenses (CAD) by year
Period	Expenses (CAD)
2025	236.59M
2024	245.86M
2023	287.99M
2022	293.17M
2021	147.1M
2020	39.37M
2019	4.02M
2018	5.31M
2017	3.7M
2016	7.12M

Cash & Debt (CAD)

HWX.TO Cash & Debt (CAD) by year
Period	Cash & Debt (CAD)
2025	102M
2024	142.69M
2023	146.4M
2022	175.45M
2021	114.7M
2020	76.77M
2019	60.96M
2018	53.65M
2017	46.18M
2016	27.27M

Debt ratios

HWX.TO Debt ratios by year
Period	Debt ratios
2025	-0.07
2024	-0.12
2023	-0.19
2022	-0.43
2021	-1.01
2020	-2.22
2019	-3.66
2018	7.05

Margins

HWX.TO Margins by year
Period	Margins
2025	49.43%
2024	53.19%
2023	50.49%
2022	58.03%
2021	56.62%
2020	0.52%
2019	18.54%
2018	52.1%
2017	27.51%
2016	42.09%

Return on Capital

HWX.TO Return on Capital by year
Period	Return on Capital
2025	20.48%
2024	26.88%
2023	25.56%
2022	29.84%
2021	11.52%
2020	2.49%
2019	2.46%
2018	-0.28%
2017	15.88%
2016	-31.23%

Shares Outstanding

HWX.TO Shares Outstanding by year
Period	Shares Outstanding
2025	238.14M
2024	237.51M
2023	236.41M
2022	231.77M
2021	204M
2020	195.32M
2019	88.15M
2018	88.92M
2017	88.66M
2016	88.65M

Dividends (CAD)

HWX.TO Dividends (CAD) by year
Period	Dividends (CAD)
2026	0.35
2025	0.44
2024	0.4
2023	0.4
2022	0.1

Book Value Per Share (CAD)

HWX.TO Book Value Per Share (CAD) by year
Period	Book Value Per Share (CAD)
2025	3.14
2024	2.94
2023	2.58
2022	2.34
2021	1.95
2020	1.38
2019	1.3
2018	1.26
2017	1.26
2016	1.06

Total Assets (CAD)

HWX.TO Total Assets (CAD) by year
Period	Total Assets (CAD)
2025	995.17M
2024	952.64M
2023	836.34M
2022	734.74M
2021	488.81M
2020	300.69M
2019	128.27M
2018	125.3M
2017	124.36M
2016	104.62M

PE Ratio

HWX.TO PE Ratio by year
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 year
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 year
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 year
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 year
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 year
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

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Headwater Exploration Inc.

Video analysis: HWX.TO

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