TSX · Oil & Gas E&P · CAD

Tourmaline Oil Corp. (TOU.TO) Stock Analysis

Tourmaline Oil Corp. (TOU.TO) is a Oil & Gas E&P stock listed on TSX and quoted in Canadian Dollar.

Last Updated: October 21, 2026

TOU.TO

CA$65.97

−CA$0.08 (−0.12%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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TOU.TO Key Statistics

As of Oct 21, 2026

Trading

Open: CA$65.88
Previous Close: CA$66.05
Day's Range: 65.56–66.54
52-Week Range: 57.95–70.57
Volume: 1.85M
Beta: 0.40

Valuation

Market Cap: CA$25.64B
P/E Ratio: 70.94
Forward P/E: 14.02
PEG Ratio: 0.39
P/S ratio: 5.33
EPS (ttm): 0.93

Financials (FY)

Revenue (FY): CA$6.30B+11.56%
Net Income (FY): CA$262.67M−79.22%
Profit margin: 7.85%
Shares Outstanding: 388.60M
1-Year Return: +11.22%

Dividend and dates

Dividend: CA$2.10+3.18%
Ex-Dividend Date: December 15, 2026
Earnings Date: November 4, 2026
Avg Volume: 2.22M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, TOU.TO closed at CA$65.97, +11.22% over 1 year.

Tourmaline Oil Corp. (TOU.TO) has a market capitalization of CA$25.64B.

In fiscal 2025, TOU.TO reported revenue of CA$6.30B.

TOU.TO Stock Return by Calendar Year

Tourmaline Oil Corp. (TOU.TO) 10-year return: what CA$10,000 became

1 year: CA$10,000 CA$11,122; +11.22%
5 years: CA$10,000 CA$21,710; +117.10%
10 years: CA$10,000 CA$27,094; +170.94%

If you had invested CA$10,000 in Tourmaline Oil Corp. (TOU.TO) 10 years ago, at the close on October 21, 2016, it would have been worth CA$27,094 at the close on October 21, 2026: +170.94% in total, +10.48% a year, with dividends reinvested. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−36.56%+147.05%+8.81%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	+8.81%
2025	−2.47%
2024	+17.80%
2023	−3.54%
2022	+88.19%
2021	+147.05%
2020	+17.24%
2019	−7.69%
2018	−24.08%
2017	−36.56%
2016 (partial year)	+2.98%

As of October 21, 2026.

TOU.TO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$6.30B	CA$262.67M	4.2%
2024	CA$5.65B	CA$1.26B	22.4%
2023	CA$6.24B	CA$1.74B	27.8%
2022	CA$8.68B	CA$4.49B	51.7%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$6.30B	CA$2.67B	CA$38.10M	CA$262.67M	4.2%
2024	CA$5.65B	CA$3.52B	CA$1.17B	CA$1.26B	22.4%
2023	CA$6.24B	CA$4.27B	CA$2.21B	CA$1.74B	27.8%
2022	CA$8.68B	CA$6.33B	CA$4.50B	CA$4.49B	51.7%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

TOU.TO Dividend History

’18’19’20’21’22’23’24’25’26*

CA$3.30−0.6% vs 2024

Dividends per share, 2025 · 8 payments

Year	Dividends per share	Payments	Change
2026*	CA$1.50	3	—
2025	CA$3.30	8	−0.6%
2024	CA$3.32	8	−49.3%
2023	CA$6.55	8	−17.1%

Year	Dividends per share	Payments	Change
2026 (partial year)	CA$1.50	3	—
2025	CA$3.30	8	−0.6%
2024	CA$3.32	8	−49.3%
2023	CA$6.55	8	−17.1%
2022	CA$7.90	8	+456.3%
2021	CA$1.42	5	+184.0%
2020	CA$0.50	4	+8.7%
2019	CA$0.46	4	+24.3%
2018	CA$0.37	4	—

Most recent payment: CA$0.50 per share, ex-dividend September 15, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

TOU.TO Valuation vs Oil & Gas E&P Median

Median of 116 stocks

Metric	TOU.TO	Oil & Gas E&P median	vs median
P/E	70.94	14.65	4.8x the median
P/S ratio	5.33	2.41	121% above
Profit margin	7.85%	12.09%	4.2 pts below

Medians across 116 Oil & Gas E&P stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Analysis

Data-derived

Company Overview

The market values Tourmaline Oil Corp. (TOU.TO) at CA$25.64B. The company sits in the Energy sector, in the Oil & Gas E&P industry. Headcount on file is 544.

Over the past 52 weeks the price has ranged from CA$57.95 to CA$70.57. TOU.TO last closed at CA$65.97 on October 21, 2026. That is −CA$0.08 (−0.12%) against the previous close. The latest close sits 13.84% above that 52-week low.

Financial Health

The most recent full year on file, fiscal 2025, shows revenue of CA$6.30B. That is +11.56% against the prior fiscal year, when revenue was CA$5.65B. Net income for the same year was CA$262.67M. That is −79.22% against the prior fiscal year. Profit margin runs at 7.85%. That is 4.2 percentage points below the Oil & Gas E&P median of 12.09%. Trailing earnings per share are 0.93.

Across the 4 fiscal years on file, revenue moves from CA$8.68B in 2022 to CA$6.30B in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

TOU.TO trades at a trailing price-to-earnings ratio of 70.94. That is 4.8 times the Oil & Gas E&P median of 14.65. The forward P/E on file is 14.02. The PEG ratio, which sets the P/E against expected earnings growth, reads 0.39. The price-to-sales ratio is 5.33. On price-to-sales that is 121.34% above the Oil & Gas E&P median of 2.41. 116 Oil & Gas E&P companies report these metrics, and the medians quoted come from that group.

The trailing one-year total return is +11.22%. Across 10 years the annualized return works out at +10.48%. The reported beta is 0.4. Daily returns over the trailing 10 years annualize to a volatility of 35.34%.

Growth & Income

The trailing dividend yield is 3.18%. That is 0.1 percentage points below the Oil & Gas E&P median yield of 3.27%. At the indicated rate that is CA$2.10 a share a year. The ex-dividend date on file is December 15, 2026. Dividends are recorded for 9 calendar years; 2026 shows 3 payments totalling CA$1.50 a share. The year before, 2025, totalled CA$3.30 a share.

The strongest complete calendar year on file is 2021 at +147.05%; the weakest is 2017 at −36.56%. Of the 9 complete calendar years on file, 4 finished higher. So far in 2026 the total return is +8.81%.

Peer Comparison

Tourmaline Oil Corp. (TOU.TO) operates in the Oil & Gas E&P industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Tourmaline Oil Corp.	TOU.TO	CA$25.64B	70.9
ConocoPhillips	COP	$175.00B	19.3
Canadian Natural Resources Limited	CNQ	$111.69B	13.3
EOG Resources, Inc.	EOG	$82.81B	12.3

Market caps are shown in each company's own trading currency, without conversion, and the peers are listed in order of these unconverted figures.

The Oil & Gas E&P industry average P/E ratio is 14.6x. Tourmaline Oil Corp. trades at a P/E of 70.9.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About Tourmaline Oil Corp.

Tourmaline Oil Corp. engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp. was incorporated in 2008 and is headquartered in Calgary, Canada.

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