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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
The historical rank and industry rank for Headwater Exploration's Intrinsic Value: Projected FCF or its related term are showing as below:
CDDRF'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 0.29 Med: 2.07 Max: 6.2
Current: 3.34
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Headwater Exploration was 6.20. The lowest was 0.29. And the median was 2.07.
CDDRF's Price-to-Projected-FCF is ranked worse than 91.8% of 634
companies
in the Oil & Gas industry
Industry Median: 0.86
vs CDDRF: 3.34
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Headwater Exploration's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
9.8422
/
4.1136250925909
=
2.39
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Headwater Exploration Intrinsic Value: Projected FCF Related Terms
Headwater Exploration Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for Headwater Exploration's Intrinsic Value: Projected FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
CDDRF vs COP, EOG, OXY: Intrinsic Value: Projected FCF Comparison
For the Oil & Gas E&P subindustry, Headwater Exploration's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Headwater Exploration Price-to-Projected-FCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Headwater Exploration's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Headwater Exploration's Price-to-Projected-FCF falls into.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Intrinsic Value: Projected FCF of $2.95 mean?
Headwater Exploration (CDDRF) has a Intrinsic Value: Projected FCF of $2.95 as of Sep. 20, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Headwater Exploration and its competitors. According to the industry distribution chart, Headwater Exploration ranks #582 out of 634 companies in the Oil & Gas industry, placing it in the top 91.8%.
Is Headwater Exploration's Intrinsic Value: Projected FCF too high?
Headwater Exploration's current Intrinsic Value: Projected FCF is $2.95. The Oil & Gas industry median Intrinsic Value: Projected FCF is 0.86. Headwater Exploration's value of $2.95 is 243% above this industry median. Based on the distribution chart, Headwater Exploration ranks #582 out of 634 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Headwater Exploration has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Headwater Exploration's Intrinsic Value: Projected FCF compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Headwater Exploration ranks #582 out of 634 companies for Intrinsic Value: Projected FCF. This places Headwater Exploration in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 0.86. Headwater Exploration's value of $2.95 is 243% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for an Oil & Gas company?
The median Intrinsic Value: Projected FCF among Oil & Gas companies is 0.86, based on 634 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Headwater Exploration's current Intrinsic Value: Projected FCF of $2.95 is 243% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Headwater Exploration and its competitors. For the Oil & Gas industry, the median Intrinsic Value: Projected FCF is 0.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Headwater Exploration's current Intrinsic Value: Projected FCF is $2.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Headwater Exploration stock overvalued right now?
Based on GuruFocus' analysis, Headwater Exploration (CDDRF) is currently considered Significantly Overvalued. The stock's GF Value™ is $6.73, compared to a current price of $9.84 — trading 46.2% above its estimated fair value. The current Intrinsic Value: Projected FCF is $2.95 and 243% above the Oil & Gas industry median of 0.86. Headwater Exploration's overall GF Score™ is 78/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Headwater Exploration (CDDRF), the current Intrinsic Value: Projected FCF is $2.95 as of Sep. 20, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Headwater Exploration (CDDRF) Overvalued in 2026?
Based on GuruFocus' analysis, Headwater Exploration stock appears to be overvalued.
The current stock price of $9.84 is trading 46.2% above its estimated GF Value™ of $6.73.
GuruFocus considers Headwater Exploration to be Significantly Overvalued.
Key valuation signals for CDDRF:
Intrinsic Value: Projected FCF: $2.95
GF Value™: $6.73 vs. price of $9.84 (46.2% above fair value)
Industry Position: 243% above the Oil & Gas median (#582 of 634)
No single metric tells the full story. See the CDDRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Headwater Exploration Inc is a Canadian resource company engaged in the exploration for and development and production of petroleum and natural gas in Canada. The company has high quality oil production, reserves, and lands in the prolific Clearwater play in the Marten Hills, Greater Peavine and Greater Nipisi areas of Alberta as well as low decline natural gas production and reserves in the McCully Field near Sussex, New Brunswick. Its core operating areas are Clearwater fairway, Alberta and McCully Field, New Brunswick.
78GF Score
Get the complete analysis for CDDRF
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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