Headwater Exploration Inc.

CDDRFOTCEnergy● Active

$9.63

+$0.33(+3.55%)

Market Cap$2.3B

P/E Ratio—

52W High$10.09

52W Low$4.69

Avg Volume82K

Open$9.18

Beta1.02

Free Cash Flow Financials Revenue

Headwater Exploration Inc. (CDDRF) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CDDRF · free cash flow · updated Jun 8, 2026

Core FCF metrics

CDDRF · FCF · TTM · margin & CAGR

Free cash flow was $111.9M for FY2025 (fiscal year ending 2025-12-31), up 19.2% year-over-year The FCF margin was 21.8%.

FY2025 Free Cash Flow$111.9M▲ +19.2% YoY

Trailing 12M (TTM)$67.2Mtrailing 4 quarters sum

FCF Margin21.8%$111.9M ÷ revenue

3-Year CAGR+47.3%FY2022 → FY2025

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CDDRF · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$298.9M(187M)$111.9M▲ +19.2%21.8%

FY2024$316.7M(223M)$93.9M▲ +48.4%15.2%

FY2023$303.3M(240M)$63.2M▲ +80.7%14.9%

FY2022$283.9M(249M)$35.0M▲ +221.8%7.6%

FY2021$111.7M(140M)−$28.7M▲ +17.5%-15.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CDDRF · P/FCF · FCF yield · FCF per share

Headwater Exploration Inc. (CDDRF) trades at a FCF yield of 2.10% and a price-to-free-cash-flow ratio of 34.4x. FCF per share stands at $0.28, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

2.10%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.28

TTM FCF ÷ Shares Outstanding

Price / FCF

x34.4

Share Price ÷ FCF per Share

EV / FCF (TTM)

x46.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

CDDRF · cash flow statement · operating / investing / financing

For FY2025, Headwater Exploration Inc. generated $298.9M in operating cash flow and spent 187M in capital expenditures, yielding $111.9M in free cash flow.

Operating Activities

+$298.9M

Cash from core business operations

2025-12-31

Investing Activities

−$227.7M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$112.2M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($298.9M) − |CapEx| (187M) = FCF ($111.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Energy)

CDDRF vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Headwater Exploration Inc.YOU

CDDRF

$111.9M+19.2%21.8%

Exxon Mobil Corporation

Energy · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Headwater Exploration Inc. (CDDRF) reported free cash flow of $111.9M for FY2025 (fiscal year ending 2025-12-31), up 19.2% year-over-year. The FCF margin was 21.8%.

Based on available data, Headwater Exploration Inc. has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $111.9M in FY2025.

Headwater Exploration Inc.'s FCF yield is 2.10% and price-to-FCF ratio is 34.4x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CDDRF free cash flow · 8 questions

Headwater Exploration Inc. free cash flow was $111.9M for FY2025, up 19.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $67.2M.

CDDRF free cash flowCDDRF FCFCDDRF FCF 2025CDDRF free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Headwater Exploration Inc. · Headwater Exploration Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026