Headwater Exploration Inc., a junior resource company, engages in the exploration, development, and production of petroleum and natural gas in the Western Canadian Sedimentary Basin and onshore in New Brunswick. It holds interests in the McCully Field located to the northeast of Sussex, New Brunswick; the Clearwater play located in the Marten Hills, Alberta; and the Frederick Brook shale gas prospect located in New Brunswick. The company was formerly known as Corridor Resources Inc. and changed its name to Headwater Exploration Inc. in March 2020. Headwater Exploration Inc. is headquartered in Calgary, Canada.

Headwater Exploration Inc.

Cenovus Energy is a Canadian-based integrated energy company that focuses on oil and natural gas production, including conventional oil, oil sands, and refining operations.

Cenovus Energy

Headwater Exploration is a Canadian publicly traded oil and gas exploration and development company focused on corporate level returns, sustainability, and balance sheet strength. self-described.

Metric
Company Name	Headwater Exploration Inc.	Cenovus Energy
Symbol	HWX
MSH ID	COM:HEADWATEREXP	COM:HUSKYENERGY
Market	STOCKS	PRIVATE
Sector	Energy	Energy
Industry	Oil & Gas Exploration & Production	Oil & Gas
Country	CA	CA
Stage
Employee Count	35
Website	headwaterexp.com	huskyenergy.com
LinkedIn
Founders

Metric
Market Cap	1.23B
Enterprise Value
Monthly Web Traffic
Web Traffic Growth
Valuation
Raised Capital

Metric
Revenue	301.02M
Revenue (LTM)
Revenue (NTM)
Gross Profit	136.76M
EBITDA	212.07M
Operating Income	126.21M
Net Income	110.40M
EPS	0.47
Diluted EPS	0.47
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin	0.51
Operating Profit Margin	0.45
EBITDA Margin	0.70
Net Profit Margin	0.37
Return on Equity	0.30
Return on Assets	0.21
Return on Capital Employed	0.30

COM:HEADWATEREXP

Headwater Exploration

Last Close

7.24

22/11 21:00

Market Cap

1.74B

Beta: -

Volume Today

295.13K

Avg: -

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio	9.55
P/B Ratio	2.44
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio	3.72
EV Multiple	6.40

Metric
Days Sales Outstanding	40.51
Days Payables Outstanding	147.94
Days Inventory Outstanding	1.45
Operating Cycle	55.54
Cash Conversion Cycle	-69.15
Asset Turnover	0.58

Metric
Operating Cash Flow	214.56M
Free Cash Flow	44.74M
Cash Flow to Debt	30.53
Operating Cash Flow/Sales	0.63
Free Cash Flow Yield	0.01

Metric
Cash & Equivalents	103.56M
Accounts Receivable	-2.48M
Inventory	557.42K
Goodwill
Debt to Capitalization	0.02
Debt to Assets	0.00
Current Ratio	1.31
Quick Ratio	1.62

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue	0.01
R&D to Revenue
SG&A to Revenue	0.12