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HWO.TO (HWO) fair value: what the stock is really worth

As of Sep 28, 2026: fair value of HWO.TO C$1.84, price C$1.08, upside +70.4%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Energy · CA · ISIN CA4296442060

HT HWO.TO logo Thin data Sep 27, 2026

HWO.TO

HWO · TO

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value C$1.84 · Strongly undervalued (+70.4%)
!Quality 54/100
!Weak Growth (revenue 5y −34.9 %/yr)
✓Solidly profitable · 12.1% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (9/12)
!Narrow moat 29/100
!Evidence only low, so the estimate is less certain
!Weak on past: 24 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

C$2.16 C$0.7000 Fair Value C$1.84 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range C$0.7000 – C$2.16 · fair‑value band C$1.37 – C$2.08 · the C$1.08 price screens below the C$1.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

High Arctic Energy Services Inc., an oilfield services company, provides oilfield services to exploration and production companies in Western Canada. It operates through two segments: Rental Services and Investments and Corporate.

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High Arctic Energy Services Inc., an oilfield services company, provides oilfield services to exploration and production companies in Western Canada. It operates through two segments: Rental Services and Investments and Corporate. The company leases oilfield and pressure control equipment comprising high-pressure blowout preventers, high pressure valves and spooling, high pressure pipework, boilers, pumps, lighting towers, oilfield tubular handling tools, and rig shacks. It also provides snubbing and well servicing services. High Arctic Energy Services Inc. was founded in 1993 and is headquartered in Calgary, Canada.

Stock analysis

HWO.TO (HWO) currently trades at C$1.08, while our model-based Fair Value estimate is C$1.84, implying the stock looks roughly 41.3% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of C$1.80 per share, and 3 of the 9 models we run sit above the C$1.08 price.

Bear case: the Earnings-Based group reads lowest at C$0.2300, and 6 of the 9 models stay below the price. Evidence for this calculation is low.

Scenario range: C$1.37 (bear) to C$2.08 (bull), the price of C$1.08 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 54/100 (solid quality), in the Energy sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

HWO.TO reported revenue of C$10.6M in FY2025 versus C$76.4M in FY2021, a compound −38.9%/yr. Reported net income was C$356K in FY2025.

Key figures

Market cap C$13.7M (≈ $9.6M) · P/E ratio 9.8 · P/S ratio 0.33 · EPS (TTM) C$0.1100 · Net margin 3.3% · Return on equity 6.0% · Return on assets (EBIT) −6.7% · Operating margin −7.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 6% below its 52-week high and 38% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Energy peers we cover trades at −23% fair-value upside, at 70%, HWO screens cheaper than that median.

Fair Value models

Bear C$1.37 Fair Value C$1.84 Bull C$2.08
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (C$0.0820 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings C$1.32 C$1.80 C$2.65 76
Residual Income C$1.20 C$1.15 C$1.13 76
Graham-Dodd C$0.1900 C$0.2300 C$0.2600 67
All 9 models by family
DCF Models
Owner Earnings C$1.32 C$1.80 C$2.65 76
Earnings-Based
Graham-Dodd C$0.1900 C$0.2300 C$0.2600 67
Multiples
P/E Multiple C$0.2900 C$0.3900 C$0.4900 63
P/S Multiple C$0.3600 C$0.4800 C$0.6000 58
P/B Multiple C$0.3600 C$0.4800 C$0.6000 55
EV/EBITDA C$0.6400 C$0.8400 C$1.05 67
Asset-Based
NCAV (Graham) C$0.8700 C$1.16 C$1.74 54
Economic Profit
Residual Income C$1.20 C$1.15 C$1.13 76
Growth Earnings
Growth-Adj P/E C$0.2100 C$0.3000 C$0.3900 67

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Quality Score breakdown

Overall quality 54/100

Of which business quality 52 · Market factors (momentum, volatility) 65

Profitability 21
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 72
Distance to the 52-week high (market factor)
Net Issuance 84
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 25/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+1.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−49.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−34.9%
Start year 2020 (pandemic). Over 10 years: −25.8% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−9.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−30.6% (2020) → −6.5% (2025)

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Equipment & Services · 185 stocks

Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 54 · Above median
Fair Value upside +70.4% · Top 25%
Profitability
Return on equity (TTM) 6.0% · Below median
Return on assets −1.6% · Bottom 25%
Net margin (TTM) 12.1% · Top 25%
Operating margin (TTM) −7.5% · Bottom 25%
Growth and dividend
Revenue growth 17.1% · Above median
Balance sheet
Debt / equity 0.14× · Below median

Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper

P/E (TTM) 9.8× · Cheapest 25%
P/B 0.44× · Cheapest 25%
P/S (TTM) 0.87× · Cheaper than median
EV/EBITDA 7.7× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 16
FUTURE (revenue growth)86 · sector 2
PAST (return on equity)24 · sector 27
HEALTH (low debt)93 · sector 92
DIVIDEND (yield)0 · sector 36

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SLB N.V SLB $51.54 $28.87 −44%
Baker Hughes Company BKR $57.83 $32.38 −44%
Tenaris S.A TEN €24.42 €19.06 −22%
TechnipFMC plc FTI $70.99 $27.88 −61%
Halliburton Company HAL $32.76 $21.56 −34%
Yantai Jereh Oilfield Services Group 002353 ¥116.02 ¥127.62 +10%
Subsea 7 S.A SUBC kr 324.80 kr 251.18 −23%
Saipem SpA SPM €4.35 €2.72 −37%
Gaztransport & Technigaz SA GTT €218.80 €240.68 +10%
China Oilfield Services Limited 601808 ¥12.12 ¥13.04 +8%

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HWO.TO · Fair Value
C$1.84 +41%Fair Value
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Cite: Fair Value Calculator (2026). "HWO.TO Fair Value". https://www.fairvalue-calculator.com/stock/HWO

Frequently asked questions

Is HWO.TO (HWO) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of C$1.84 versus a price of C$1.08, about +70% upside (undervalued).
What is the fair value of HWO?
Our model-based fair value for HWO.TO is C$1.84 (as of Sep 27, 2026), built from audited fundamentals. The current price: C$1.08.
What is the quality score of HWO?
HWO.TO has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for HWO.TO (HWO)?
Our model-based price target is the fair value of C$1.84 (as of Sep 27, 2026) from 9 valuation models. Cautious scenario C$1.37, optimistic scenario C$2.08. It is a calculation from audited fundamentals, not an analyst target.
What is the HWO.TO stock forecast for 2026?
Our models put fair value at C$1.84, about +70% upside versus a price of C$1.08 (undervalued). Cautious scenario C$1.37, optimistic scenario C$2.08. The calculation is refreshed regularly with new filings.
What is the revenue of HWO.TO (HWO)?
HWO.TO reported trailing-twelve-month revenue of about C$11.0M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of HWO.TO (HWO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HWO.TO it is C$1.84 per share (as of Sep 27, 2026), against a price of C$1.08. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is HWO.TO stock overvalued or undervalued in 2026?
As of Sep 27, 2026, HWO trades below its calculated fair value: price C$1.08, fair value C$1.84, a gap of about +70% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HWO?
No. The price is what the market pays today (C$1.08); the fair value is what the company's own numbers justify (C$1.84). For HWO.TO the two are C$0.7600 per share apart. That gap is exactly why we show both numbers side by side.
How much is HWO.TO worth?
The market values HWO.TO at about C$13.7M (market capitalisation, as of Sep 27, 2026). Per share that is C$1.08; our models calculate a fair value of C$1.84 per share.
What do the bullish and bearish scenarios say about HWO?
Our models span a range for HWO.TO: cautious scenario C$1.37, base C$1.84, optimistic C$2.08 per share (as of Sep 27, 2026, price C$1.08). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HWO?
HWO.TO trades at a price-to-earnings ratio of 9.8 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$1.84 is built from several models across several years. Other multiples: P/B 0.4, P/S 0.9, EV/EBITDA 7.7.
How solid is the balance sheet of HWO.TO (HWO)?
Balance-sheet figures for HWO.TO (as of Sep 27, 2026): return on equity 6.0%, debt of 0.14 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is HWO from its 52-week high?
HWO.TO trades at C$1.08, about 6% below its 52-week high of C$1.15 and 38% above the low of C$0.7800 (as of Sep 28, 2026). Distance from the high says nothing about value: that is what the fair value of C$1.84 is for.
Which stocks are comparable to HWO.TO?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, Tenaris S.A, TechnipFMC plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is HWO.TO stock attractive at the current price?
The data as of Sep 27, 2026: price C$1.08, calculated fair value C$1.84 (+70%), Quality Score 54/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HWO calculated?
We run HWO.TO through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of C$1.84, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.9 % above its aggregate fair value. HWO.TO currently trades 70 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of HWO.TO (HWO)?
The closing price on Sep 28, 2026 was C$1.08. Our model-based fair value is C$1.84, about +70% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HWO.TO right now?
The price is below even our cautious bear case (C$1.37). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of HWO.TO

How large is the market capitalisation of HWO.TO (HWO)?
The market capitalisation of HWO.TO is C$13.7M (≈ $9.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of HWO.TO (HWO)?
The price-to-sales ratio of HWO.TO is 0.33 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of HWO.TO (HWO)?
Earnings per share at HWO.TO are C$0.1100 (price ÷ EPS = P/E 9.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of HWO.TO (HWO)?
The net margin of HWO.TO is 3.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of HWO.TO (HWO)?
The return on equity (ROE) of HWO.TO is 6.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of HWO.TO (HWO)?
On an EBIT basis the return on assets of HWO.TO is −6.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of HWO.TO (HWO)?
The operating margin of HWO.TO is −7.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HWO.TO (HWO)?
Revenue at HWO.TO is growing +17.1% versus a year earlier (3y avg −49.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at HWO.TO (HWO)?
Earnings per share at HWO.TO are growing −96.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does HWO.TO (HWO) generate?
The free cash flow of HWO.TO is −C$173K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does HWO.TO (HWO) carry?
The net debt of HWO.TO is C$997K (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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