Tourmaline Oil has lower readings on two of the three valuation measures, while Imperial Oil has the lower P/E. The comparison is mixed, not a clear-cut value call.
Imperial Oil Ltd. (IMO.TO) and Tourmaline Oil Corp. (TOU.TO) are both Canadian energy companies, but their financial snapshots tell different stories. As of October 29, 2026, Imperial’s adjusted closing price was C$183.62 and its market cap was C$88.8B. Tourmaline closed at C$68.00, with a market cap of C$26.4B. Tourmaline has the lower PEG and P/B ratios, while Imperial has the lower P/E. See the company snapshots for Imperial Oil and Tourmaline Oil for more details.
Investor takeaway: The valuation measures point in different directions. Tourmaline has lower PEG and P/B ratios, while Imperial has a lower P/E. These measures capture different aspects of valuation. They don’t show that either stock is undervalued, safer, or more likely to deliver stronger returns. The snapshot also shows differences in ROE and dividend yield, which may help you compare the two businesses.
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Imperial Oil Ltd
IMO.TO
Energy
$183.62
$88.80B
1D
+0.31%
1W
-0.63%
Tourmaline Oil Corp.
TOU.TO
Energy
$68.00
$26.42B
1D
+0.38%
1W
+3.25%
Two valuation measures favour Tourmaline; one favours Imperial
Tourmaline has a lower PEG (0.33 versus 5.19) and P/B (1.65 versus 3.62). Imperial has a lower P/E (21.5 versus 73.1). So the snapshot doesn’t give a single, consistent valuation signal.
Bull case
Tourmaline looks cheaper on two measures: its PEG is 0.33 and its P/B is 1.65, both below Imperial’s. Its dividend yield is also higher in this snapshot, at 2.95% versus Imperial’s 1.74%. These figures offer context, not a recommendation.
Bear case
Tourmaline’s P/E is 73.1, well above Imperial’s 21.5. Its ROE is also lower, at 2.3% compared with Imperial’s 16.8%. These figures complicate the lower PEG and P/B readings and show why no single measure settles the comparison.
The valuation measures point in different directions
The three multiples give a mixed picture. Imperial’s P/E of 21.5 is below Tourmaline’s 73.1. But Tourmaline has a lower PEG (0.33 versus 5.19) and P/B (1.65 versus 3.62). Tourmaline therefore looks cheaper on two of the three measures. That doesn’t prove it’s undervalued. Multiples can reflect different expectations and business conditions, and this snapshot doesn’t explain what’s behind each figure.
| Measure | Imperial Oil (IMO.TO) | Tourmaline Oil (TOU.TO) | Lower figure |
|---|---|---|---|
| P/E | 21.5 | 73.1 | Imperial |
| PEG | 5.19 | 0.33 | Tourmaline |
| P/B | 3.62 | 1.65 | Tourmaline |
Yield and returns add context, not a verdict
The snapshot lists Imperial’s dividend yield at 1.74% and TTM ROE at 16.8%. For Tourmaline, it lists a 2.95% yield and 2.3% TTM ROE. These figures add context but don’t resolve the mixed valuation signals or show which company is the better investment. The supplied table also gives both companies a Strong Sell analyst consensus and a C$0.00 analyst target. Those are reported snapshot figures, not a substitute for assessing each business, its risks, and your own investment goals.
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