Tourmaline looks cheaper on two of the three valuation measures in this snapshot, while Imperial Oil has the lower P/E. The results are mixed, so no single multiple tells the whole story.
Imperial Oil Ltd. (IMO.TO) and Tourmaline Oil Corp. (TOU.TO) are both Canadian energy companies, but their valuation figures differ. As of November 5, 2026, Imperial Oil’s adjusted close was C$176.02 and its market cap was C$83.1 billion. Tourmaline’s adjusted close was C$62.27, with a market cap of C$24.2 billion. Share prices alone don’t show which company is cheaper, so this comparison focuses on the supplied P/E, PEG and P/B figures. See the Imperial Oil stock page and Tourmaline Oil stock page for more information about each company.
Investor takeaway: The results are split. Tourmaline has the lower PEG and P/B, while Imperial Oil has the lower P/E. Tourmaline screens cheaper on two of the three available measures, but that doesn’t prove its shares are undervalued or offer better value overall. Each measure captures a different part of valuation, so consider them alongside the companies’ financial performance and business risks.
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Imperial Oil Ltd
IMO.TO
Energy
$178.50
$84.25B
1D
-5.27%
1W
-2.49%
Tourmaline Oil Corp.
TOU.TO
Energy
$63.00
$24.48B
1D
-4.95%
1W
-7.00%
The valuation picture is mixed
Tourmaline’s PEG of 0.32 is below Imperial Oil’s 5.19, and its P/B of 1.56 is below 3.40. But Imperial Oil’s P/E is lower: 14.0, compared with Tourmaline’s 67.0. Tourmaline therefore screens cheaper on two of the three measures. That doesn’t prove it’s undervalued. Multiples are snapshots and don’t capture every difference in earnings, assets or business outlook.
Bull case
Tourmaline has a lower PEG and P/B than Imperial Oil: 0.32 versus 5.19, and 1.56 versus 3.40. Investors comparing valuations may find those figures worth considering, but they don’t predict future returns.
Bear case
Tourmaline’s P/E of 67.0 is much higher than Imperial Oil’s 14.0. Its reported ROE is also lower, at 2.3% versus 25.2%. This snapshot doesn’t explain why the figures differ or whether the gap will last.
How the valuation measures compare
Tourmaline has the lower PEG, at 0.32 versus Imperial Oil’s 5.19, and the lower P/B, at 1.56 versus 3.40. Imperial Oil has the lower P/E: 14.0 compared with Tourmaline’s 67.0. So Tourmaline screens cheaper on two of the three supplied measures. A lower multiple is a point of comparison, not proof that a stock is mispriced. Each measure has limits, and this snapshot doesn’t explain what’s driving the differences.
Other figures in the snapshot
Imperial Oil reports a trailing-twelve-month ROE of 25.2% and a dividend yield of 1.87%. Tourmaline’s reported ROE is 2.3%, and its dividend yield is 0.00%. These figures add context but don’t settle which company offers better value.
The analyst consensus label for both companies is Strong Sell, and the supplied analyst target is C$0.00 for each. These are the labels and figures in this snapshot, not a substitute for assessing the businesses themselves. You can review the IMO.TO profile and TOU.TO profile alongside the valuation data.
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