InPlay Oil

IPO.TO

Oil & Gas Exploration & Production · Energy

Exchange

Toronto Stock Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

InPlay Oil Corp. is a small Canadian oil and gas company that finds and produces crude oil and natural gas from underground reservoirs. It operates primarily in the Cardium formation in Alberta, Canada, targeting light oil production. The company sells its oil and gas to energy marketers and refiners across North America.

InPlay makes money by selling the oil and natural gas it pumps out of the ground, with revenue tied directly to commodity prices. It is a small-cap producer focused entirely on Alberta, with a market cap around $400 million, and its competitive position depends on keeping drilling costs low in its core operating area. The biggest risk the company faces is falling oil prices, since thin operating margins — under 5% — leave little buffer if crude prices drop, and its low return on invested capital suggests the business is not yet generating strong returns from its drilling program.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+98.4% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-552.6% YoY

YoY Growth Rate

Earnings declining

Insider Activity

48.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

C$16M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

InPlay Oil grew revenue 98% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

19.7%

Thin — 19.7% gross margin

Profit after running costs

Operating Margin

9.4%

Modest — 9.4% operating margin

Return on the money invested

ROCE

2.7%

Weak — 2.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+120.9%

Fast-growing sales (+120.9% YoY)

Profit growth

EPS YoY

<−1,000%

Earnings shrinking (<−1,000% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-52.6%

Burning cash (-52.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.71

Moderate — manageable debt (0.71)

Covers its interest

Interest Cover

0.66x

Dangerous — barely covers interest (0.7x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

7.14%

no trend

Healthy income — 7.14% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+0.0%

no trend

Dividend flat

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