Headwater Exploration Inc. (TSX:HWX)

Headwater Exploration Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	200.41	188.03	156.07	162.11	45.83	6.71
Depreciation & Amortization	126.87	124.88	120.2	79.41	28.44	-5.17
Asset Writedown & Restructuring Costs	-	-	-	-	-	0.01
Stock-Based Compensation	11.65	12	5.24	4.09	2.73	1.48
Other Operating Activities	7.05	3.92	14.76	48.52	40.93	-1.57
Change in Accounts Receivable	-1.64	-14.15	-3.5	-12.66	-25.13	-1.99
Change in Inventory	-0.15	-0.41	0.46	-0.58	-0.17	-0.27
Change in Accounts Payable	-0.61	3.75	10.91	3.56	19.08	1.28
Change in Other Net Operating Assets	-11.96	-1.3	-0.81	-0.5	-0.04	-0.24
Operating Cash Flow	331.63	316.74	303.32	283.93	111.66	0.23
Operating Cash Flow Growth	11.22%	4.42%	6.83%	154.28%	48446.09%	-97.40%
Capital Expenditures	-220.45	-222.87	-240.07	-248.92	-140.39	-2.28
Sale of Property, Plant & Equipment	-	-	3.75	-	-	-
Cash Acquisitions	-	-	-	-	-	-32.78
Other Investing Activities	-17.93	-3.99	-7.39	16.87	31.26	0.65
Investing Cash Flow	-238.38	-226.85	-243.71	-232.06	-109.13	-34.4
Long-Term Debt Issued	-	1.42	4.8	7.95	35.72	-
Long-Term Debt Repaid	-	-0.29	-0.66	-0.92	-0.34	-0.11
Net Debt Issued (Repaid)	0.24	1.13	4.14	7.03	35.38	-0.11
Issuance of Common Stock	0.52	0.55	1.01	1.84	0.02	52.14
Common Dividends Paid	-95.04	-94.92	-94.16	-	-	-
Other Financing Activities	-	-	-	-	-	-2.04
Financing Cash Flow	-94.28	-93.24	-89	8.88	35.4	49.99
Net Cash Flow	-1.03	-3.36	-29.4	60.74	37.93	15.82
Free Cash Flow	111.18	93.87	63.25	35	-28.73	-2.05
Free Cash Flow Growth	78.40%	48.42%	80.69%	-	-	-
Free Cash Flow Margin	20.56%	18.35%	14.86%	9.38%	-17.41%	-23.15%
Free Cash Flow Per Share	0.47	0.40	0.27	0.15	-0.13	-0.01
Cash Income Tax Paid	56.99	59.69	28.99	-	-	-
Levered Free Cash Flow	62.78	59.78	10.39	6.11	-39.22	10.01
Unlevered Free Cash Flow	63.43	60.4	10.73	6.23	-39.2	10.01
Change in Net Working Capital	15.48	4.08	-2.02	-41.32	-17.97	-9.86

Updated Mar 13, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.