Headwater Exploration Inc. (TSX:HWX)

Headwater Exploration Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jan 15, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Capitalization	2,476	1,571	1,477	1,382	1,043	466
Market Cap Growth	54.57%	6.33%	6.93%	32.44%	123.79%	634.50%
Enterprise Value	2,356	1,435	1,349	1,215	960	354
Last Close Price	10.37	6.23	5.56	4.95	4.24	1.97
PE Ratio	14.25	8.36	9.47	8.52	22.76	69.50
Forward PE	18.85	73.68	73.68	73.68	73.68	73.68
PS Ratio	4.74	3.07	3.47	3.70	6.32	52.72
PB Ratio	3.29	2.25	2.42	2.54	2.62	1.73
P/TBV Ratio	3.29	2.25	2.42	2.54	2.62	1.73
P/FCF Ratio	35.59	16.74	23.36	39.47	-	-
P/OCF Ratio	8.24	4.96	4.87	4.87	9.34	2026.77
PEG Ratio	-	7.37	7.37	7.37	7.37	7.37
EV/Sales Ratio	4.52	2.81	3.17	3.26	5.82	39.99
EV/EBITDA Ratio	6.68	3.93	4.25	4.22	8.59	18.15
EV/EBIT Ratio	10.52	5.96	6.84	5.83	11.53	36.11
EV/FCF Ratio	33.86	15.29	21.34	34.72	-	-
Debt / Equity Ratio	0.00	0.00	0.00	0.00	0.00	0.00
Debt / EBITDA Ratio	0.01	0.01	0.00	0.00	0.01	0.02
Debt / FCF Ratio	0.03	0.03	0.01	0.03	-	-
Asset Turnover	0.54	0.57	0.54	0.61	0.42	0.04
Inventory Turnover	132.15	123.79	109.14	74.35	64.28	-
Quick Ratio	1.27	1.56	1.59	1.95	2.51	5.62
Current Ratio	1.32	1.61	1.64	1.98	2.55	5.82
Return on Equity (ROE)	24.05%	28.71%	27.05%	34.45%	13.74%	3.50%
Return on Assets (ROA)	14.39%	16.82%	15.70%	21.31%	13.19%	2.85%
Return on Capital (ROIC)	19.45%	22.91%	21.35%	27.63%	15.57%	3.19%
Return on Capital Employed (ROCE)	25.60%	29.20%	27.60%	33.50%	19.30%	3.40%
Earnings Yield	6.98%	11.97%	10.56%	11.73%	4.39%	1.44%
FCF Yield	2.81%	5.97%	4.28%	2.53%	-2.75%	-0.44%
Dividend Yield	4.24%	6.42%	7.20%	2.02%	-	-
Payout Ratio	57.78%	50.48%	60.33%	-	-	-
Buyback Yield / Dilution	0.32%	0.53%	-3.01%	-6.90%	-48.48%	-63.79%
Total Shareholder Return	4.56%	6.95%	4.18%	-4.88%	-48.48%	-63.79%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.