Headwater Exploration Inc
Headwater Exploration Inc. engages in the exploration, development, and production of petroleum and natural gas resources in Canada. It holds interest in the Marten Hills area located in Alberta; and the McCully Field area 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.… Read more
Headwater Exploration Inc (CDDRF) - Net Assets
Latest net assets as of September 2025: $753.18 Million USD
Based on the latest financial reports, Headwater Exploration Inc (CDDRF) has net assets worth $753.18 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.01 Billion) and total liabilities ($254.82 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $753.18 Million |
| % of Total Assets | 74.72% |
| Annual Growth Rate | 37.02% |
| 5-Year Change | 159.99% |
| 10-Year Change | 469.51% |
| Growth Volatility | 318.84 |
Headwater Exploration Inc - Net Assets Trend (1995–2024)
This chart illustrates how Headwater Exploration Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Headwater Exploration Inc (1995–2024)
The table below shows the annual net assets of Headwater Exploration Inc from 1995 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $699.46 Million | +14.57% |
| 2023-12-31 | $610.50 Million | +12.36% |
| 2022-12-31 | $543.34 Million | +36.59% |
| 2021-12-31 | $397.79 Million | +47.86% |
| 2020-12-31 | $269.03 Million | +135.35% |
| 2019-12-31 | $114.31 Million | +2.34% |
| 2018-12-31 | $111.70 Million | -0.04% |
| 2017-12-31 | $111.74 Million | +19.12% |
| 2016-12-31 | $93.80 Million | -23.62% |
| 2015-12-31 | $122.82 Million | -20.39% |
| 2014-12-31 | $154.27 Million | -9.99% |
| 2013-12-31 | $171.40 Million | +15.19% |
| 2012-12-31 | $148.80 Million | -23.74% |
| 2011-12-31 | $195.14 Million | -25.96% |
| 2010-12-31 | $263.55 Million | -2.40% |
| 2009-12-31 | $270.02 Million | -0.61% |
| 2008-12-31 | $271.68 Million | +35.55% |
| 2007-12-31 | $200.42 Million | +52.45% |
| 2006-12-31 | $131.47 Million | +126.54% |
| 2005-12-31 | $58.03 Million | +239.79% |
| 2004-12-31 | $17.08 Million | +37.51% |
| 2003-12-31 | $12.42 Million | -1.20% |
| 2002-12-31 | $12.57 Million | -12.95% |
| 2001-12-31 | $14.44 Million | +310.74% |
| 2000-12-31 | $3.52 Million | -55.00% |
| 1999-12-31 | $7.81 Million | +1.17% |
| 1998-12-31 | $7.72 Million | +69.28% |
| 1997-12-31 | $4.56 Million | +231.13% |
| 1996-12-31 | $1.38 Million | +1727.36% |
| 1995-12-31 | $75.41K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Headwater Exploration Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 20150709400.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $201.51 Million | 28.81% |
| Common Stock | $486.98 Million | 69.62% |
| Other Components | $10.97 Million | 1.57% |
| Total Equity | $699.46 Million | 100.00% |
Headwater Exploration Inc Competitors by Market Cap
The table below lists competitors of Headwater Exploration Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hotel Shilla Co Ltd
KO:008775
|
$830.51 Million |
|
TWO HARBORS INV. DL-0001
F:2H2
|
$831.15 Million |
|
Companhia Siderúrgica Nacional
MX:SIDN
|
$831.16 Million |
|
The Navigator Company S.A
PINK:POELF
|
$831.25 Million |
|
Guangdong Tapai Group Co Ltd
SHE:002233
|
$830.46 Million |
|
Wisdom Marine Lines Co Ltd
TW:2637
|
$830.08 Million |
|
Lecron Energy Saving Materials
SHE:300343
|
$829.53 Million |
|
Basic-Fit N.V
PINK:BSFFF
|
$829.31 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Headwater Exploration Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 610,498,000 to 699,459,000, a change of 88,961,000 (14.6%).
- Net income of 188,028,000 contributed positively to equity growth.
- Dividend payments of 94,919,000 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $188.03 Million | +26.88% |
| Dividends Paid | $94.92 Million | -13.57% |
| Other Changes | $-4.15 Million | -0.59% |
| Total Change | $- | 14.57% |
Book Value vs Market Value Analysis
This analysis compares Headwater Exploration Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.25x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 13.14x to 1.25x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1996-12-31 | $0.28 | $3.71 | x |
| 1997-12-31 | $0.32 | $3.71 | x |
| 1998-12-31 | $0.24 | $3.71 | x |
| 1999-12-31 | $0.25 | $3.71 | x |
| 2000-12-31 | $0.16 | $3.71 | x |
| 2001-12-31 | $0.49 | $3.71 | x |
| 2002-12-31 | $0.39 | $3.71 | x |
| 2003-12-31 | $0.36 | $3.71 | x |
| 2004-12-31 | $0.43 | $3.71 | x |
| 2005-12-31 | $1.30 | $3.71 | x |
| 2006-12-31 | $1.96 | $3.71 | x |
| 2007-12-31 | $2.47 | $3.71 | x |
| 2008-12-31 | $3.17 | $3.71 | x |
| 2009-12-31 | $3.08 | $3.71 | x |
| 2010-12-31 | $2.98 | $3.71 | x |
| 2011-12-31 | $2.20 | $3.71 | x |
| 2012-12-31 | $1.68 | $3.71 | x |
| 2013-12-31 | $1.94 | $3.71 | x |
| 2014-12-31 | $1.74 | $3.71 | x |
| 2015-12-31 | $1.39 | $3.71 | x |
| 2016-12-31 | $1.06 | $3.71 | x |
| 2017-12-31 | $1.26 | $3.71 | x |
| 2018-12-31 | $1.25 | $3.71 | x |
| 2019-12-31 | $1.29 | $3.71 | x |
| 2020-12-31 | $1.85 | $3.71 | x |
| 2021-12-31 | $1.84 | $3.71 | x |
| 2022-12-31 | $2.35 | $3.71 | x |
| 2023-12-31 | $2.57 | $3.71 | x |
| 2024-12-31 | $2.96 | $3.71 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Headwater Exploration Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 26.88%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 30.34%
- • Asset Turnover: 0.65x
- • Equity Multiplier: 1.36x
- Recent ROE (26.88%) is above the historical average (-5.86%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | -10.63% | 0.00% | 0.00x | 0.97x | $-299.09K |
| 1997 | -3.11% | 0.00% | 0.00x | 1.16x | $-598.29K |
| 1998 | -4.22% | 0.00% | 0.00x | 1.17x | $-1.10 Million |
| 1999 | -4.04% | 0.00% | 0.00x | 1.05x | $-1.10 Million |
| 2000 | -116.58% | 0.00% | 0.00x | 1.20x | $-4.45 Million |
| 2001 | -5.33% | 0.00% | 0.00x | 1.14x | $-2.21 Million |
| 2002 | -18.30% | -2590.06% | 0.01x | 1.37x | $-3.56 Million |
| 2003 | -8.11% | -127.41% | 0.05x | 1.40x | $-2.25 Million |
| 2004 | 4.64% | 25.27% | 0.14x | 1.35x | $-907.45K |
| 2005 | 1.93% | 24.43% | 0.07x | 1.15x | $-4.68 Million |
| 2006 | -0.20% | -15.83% | 0.01x | 1.15x | $-13.41 Million |
| 2007 | 2.02% | 12.14% | 0.14x | 1.20x | $-15.99 Million |
| 2008 | 8.15% | 27.18% | 0.25x | 1.18x | $-5.02 Million |
| 2009 | 0.62% | 3.40% | 0.16x | 1.11x | $-25.33 Million |
| 2010 | -2.62% | -23.38% | 0.10x | 1.10x | $-33.27 Million |
| 2011 | -40.78% | -331.70% | 0.12x | 1.05x | $-99.10 Million |
| 2012 | -32.18% | -323.68% | 0.09x | 1.06x | $-62.77 Million |
| 2013 | 13.10% | 103.84% | 0.12x | 1.06x | $5.31 Million |
| 2014 | -11.48% | -76.15% | 0.14x | 1.08x | $-33.13 Million |
| 2015 | -25.96% | -200.80% | 0.12x | 1.08x | $-44.16 Million |
| 2016 | -31.23% | -216.31% | 0.13x | 1.12x | $-38.67 Million |
| 2017 | 15.88% | 231.16% | 0.06x | 1.11x | $6.56 Million |
| 2018 | -0.28% | -1.91% | 0.13x | 1.12x | $-11.48 Million |
| 2019 | 2.46% | 30.16% | 0.07x | 1.12x | $-8.62 Million |
| 2020 | 2.49% | 70.61% | 0.03x | 1.12x | $-20.20 Million |
| 2021 | 11.52% | 24.00% | 0.39x | 1.23x | $6.05 Million |
| 2022 | 29.84% | 35.37% | 0.62x | 1.35x | $107.78 Million |
| 2023 | 25.56% | 36.68% | 0.51x | 1.37x | $95.02 Million |
| 2024 | 26.88% | 30.34% | 0.65x | 1.36x | $118.08 Million |
Industry Comparison
This section compares Headwater Exploration Inc's net assets metrics with peer companies in the Oil & Gas E&P industry.
Industry Context
- Industry: Oil & Gas E&P
- Average net assets among peers: $1,751,793,864
- Average return on equity (ROE) among peers: -1.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Headwater Exploration Inc (CDDRF) | $753.18 Million | -10.63% | 0.34x | $830.46 Million |
| Advantage Energy Ltd. (AAVVF) | $1.33 Billion | 0.83% | 0.33x | $922.80 Million |
| ADX Energy Ltd (ADXRF) | $4.37 Million | -14.30% | 0.01x | $9.58 Million |
| ARC Resources Ltd. (AETUF) | $3.40 Billion | 7.09% | 0.69x | $10.30 Billion |
| Aminex PLC (AEXFF) | $7.53 Million | -11.90% | 0.27x | $77.17 Million |
| Aker BP ASA (AKRBF) | $12.69 Billion | 14.40% | 2.32x | $6.29 Billion |
| Arkanova Energy Corporation (AKVA) | $-35.51K | 0.00% | 0.00x | $4.92K |
| Allied Resources Inc (ALOD) | $2.39 Million | -3.81% | 0.14x | $428.76K |
| Altex Industries Inc (ALTX) | $2.60 Million | -10.61% | 0.15x | $1.08 Million |
| Alvopetro Energy Ltd (ALVOF) | $66.14 Million | -10.76% | 0.04x | $117.02 Million |
| AMEN Properties Inc (AMEN) | $15.55 Million | 14.30% | 0.08x | $4.94 Million |