Headwater ExplorationFRA:C6V 75 Altman Z-Score is 7.62 as of Jul. 02, 2026, which is 34% above its 10-year median of 5.70. GuruFocus rates FRA:C6V with a GF Score™ of 75/100 and a GF Value™ of €5.54 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 896 Oil & Gas companies, Headwater Exploration ranks better than 92.97% on this metric.
The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Good Sign:
Altman Z-score of 7.75 is strong.
Headwater Exploration has a Altman Z-Score of 7.62, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Headwater Exploration's Altman Z-Score or its related term are showing as below:
FRA:C6V'
s Altman Z-Score Range Over the Past 10 Years
Min: -1.89 Med: 5.7 Max: 8.81
Current: 7.75
During the past 13 years, Headwater Exploration's highest Altman Z-Score was 8.81. The lowest was -1.89. And the median was 5.70.
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
Headwater Exploration Altman Z-Score Related Terms
Headwater Exploration Altman Z-Score Historical Data
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The historical data trend for Headwater Exploration's Altman Z-Score 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.
FRA:C6V vs COP, EOG, FANG: Altman Z-Score Comparison
For the Oil & Gas E&P subindustry, Headwater Exploration's Altman Z-Score, along with its competitors' market caps and Altman Z-Score 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 Altman Z-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Headwater Exploration's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Headwater Exploration's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Headwater Exploration (FRA:C6V) has a Altman Z-Score of 7.62 as of Jul. 02, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Headwater Exploration and its competitors. This is 34% above median its historical median of 5.70. According to the industry distribution chart, Headwater Exploration ranks #63 out of 896 companies in the Oil & Gas industry, placing it in the top 7%.
Is Headwater Exploration's Altman Z-Score too high?
Headwater Exploration's current Altman Z-Score of 7.62 is 34% above median its 10-year median of 5.70. The Oil & Gas industry median Altman Z-Score is 1.89. Headwater Exploration's value of 7.62 is 303.2% above this industry median. Based on the distribution chart, Headwater Exploration ranks #63 out of 896 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Headwater Exploration has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Headwater Exploration's Altman Z-Score compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Headwater Exploration ranks #63 out of 896 companies for Altman Z-Score. This places Headwater Exploration in the top 7% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 1.89. Headwater Exploration's value of 7.62 is 303.2% above this benchmark. While the company's 10-year median is 5.70 vs. the industry median of 1.89, Headwater Exploration has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z-Score for an Oil & Gas company?
The median Altman Z-Score among Oil & Gas companies is 1.89, based on 896 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Headwater Exploration's current Altman Z-Score of 7.62 is 303.2% 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 Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on Headwater Exploration and its competitors. For the Oil & Gas industry, the median Altman Z-Score is 1.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Headwater Exploration's current Altman Z-Score is 7.62, which is 34% above median its own 10-year median of 5.70. 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 (FRA:C6V) is currently considered Significantly Overvalued. The stock's GF Value™ is €5.54, compared to a current price of €7.25 — trading 30.9% above its estimated fair value. The current Altman Z-Score is 7.62, which is 34% above median its 10-year median of 5.70 and 303.2% above the Oil & Gas industry median of 1.89. Headwater Exploration's overall GF Score™ is 75/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For Headwater Exploration (FRA:C6V), the current Altman Z-Score is 7.62 as of Jul. 02, 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 (FRA:C6V) Overvalued in 2026?
Based on GuruFocus' analysis, Headwater Exploration stock appears to be overvalued.
The current stock price of €7.25 is trading 30.9% above its estimated GF Value™ of €5.54.
GuruFocus considers Headwater Exploration to be Significantly Overvalued.
Key valuation signals for FRA:C6V:
Altman Z-Score: 7.62 (34% above median its 10-year median of 5.70)
GF Value™: €5.54 vs. price of €7.25 (30.9% above fair value)
Industry Position: 303.2% above the Oil & Gas median (#63 of 896)
No single metric tells the full story. See the FRA:C6V 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.
75GF Score
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