Headwater Exploration Inc. (TSX:HWX)

Headwater Exploration Balance Sheet

Financials in millions CAD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	99.66	142.69	146.05	175.45	114.7
Cash & Short-Term Investments	99.66	142.69	146.05	175.45	114.7
Cash Growth	-30.16%	-2.30%	-16.75%	52.96%	49.41%
Accounts Receivable	53	58.62	46.74	43.14	30.6
Other Receivables	-	-	1.77	1.1	-
Inventory	1.08	1.19	0.79	1.24	0.81
Other Current Assets	4.31	5.14	5.57	1.76	1.61
Total Current Assets	158.04	207.65	200.92	221.59	147.72
Net Property, Plant & Equipment	790.75	712.02	616.38	468.04	311.76
Other Long-Term Assets	46.37	32.97	19.04	44	29.33
Total Assets	995.17	952.64	836.34	734.74	488.81
Accounts Payable	65.7	70.85	73.72	71.4	52.97
Current Portion of Leases	0.96	0.63	0.03	0.63	0.86
Other Current Liabilities	61.44	57.44	48.57	40.13	4.12
Total Current Liabilities	128.09	128.91	122.31	112.16	57.95
Long-Term Leases	1.33	2.09	0.81	0.24	0.7
Other Long-Term Liabilities	117.6	122.17	102.72	79.01	32.38
Total Long-Term Liabilities	118.92	124.26	103.52	79.25	33.07
Total Liabilities	247.01	253.18	225.84	191.41	91.02
Common Stock	487.38	486.98	483.01	479.16	469.52
Additional Paid-in Capital	10.79	10.97	18.97	17.31	20.12
Retained Earnings	249.99	201.51	108.52	46.86	-91.85
Shareholders' Equity	748.16	699.46	610.5	543.34	397.79
Total Liabilities & Equity	995.17	952.64	836.34	734.74	488.81
Total Debt	2.28	2.72	0.84	0.86	1.55
Net Cash (Debt)	97.37	139.97	145.21	174.59	113.15
Net Cash Growth	-30.44%	-3.61%	-16.83%	54.29%	47.96%
Net Cash Per Share	0.41	0.59	0.61	0.76	0.52
Book Value	748.16	699.46	610.5	543.34	397.79
Book Value Per Share	3.12	2.96	2.57	2.35	1.84
Tangible Book Value	748.16	699.46	610.5	543.34	397.79
Tangible Book Value Per Share	3.12	2.96	2.57	2.35	1.84

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.