Granite Ridge Resources Inc Financials
This page shows Granite Ridge Resources Inc (GRNT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Granite Ridge Resources Inc has an operating margin of 15.6%, meaning the company retains $16 of operating profit per $100 of revenue. This strong profitability earns a score of 78/100, reflecting efficient cost management and pricing power. This is down from 23.0% the prior year.
Granite Ridge Resources Inc's revenue declined 3.6% year-over-year, from $394.1M to $380.0M. This contraction results in a growth score of 18/100.
Granite Ridge Resources Inc carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
Granite Ridge Resources Inc's current ratio of 1.33 indicates adequate short-term liquidity, earning a score of 33/100. The company can meet its near-term obligations, though with limited headroom.
Granite Ridge Resources Inc generates a 2.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 12/100. This is down from 12.1% the prior year.
Granite Ridge Resources Inc scores 1.62, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($670.7M) relative to total liabilities ($401.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Granite Ridge Resources Inc passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Granite Ridge Resources Inc generates $14.70 in operating cash flow ($275.7M OCF vs $18.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Granite Ridge Resources Inc earns $3.2 in operating income for every $1 of interest expense ($59.3M vs $18.5M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Granite Ridge Resources Inc generated $380.0M in revenue in fiscal year 2024. This represents a decrease of 3.6% from the prior year.
Granite Ridge Resources Inc reported $18.8M in net income in fiscal year 2024. This represents a decrease of 76.9% from the prior year.
Granite Ridge Resources Inc earned $0.14 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 77.0% from the prior year.
Granite Ridge Resources Inc held $9.4M in cash against $205.0M in long-term debt as of fiscal year 2024.
Granite Ridge Resources Inc paid $0.44 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Granite Ridge Resources Inc's operating margin was 15.6% in fiscal year 2024, reflecting core business profitability. This is down 7.4 percentage points from the prior year.
Granite Ridge Resources Inc's net profit margin was 4.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 15.6 percentage points from the prior year.
Granite Ridge Resources Inc's ROE was 2.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 9.1 percentage points from the prior year.
Granite Ridge Resources Inc spent $442K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 98.7% from the prior year.
GRNT Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $112.7M+3.2% | $109.2M-11.2% | $122.9M+15.6% | $106.3M+17.3% | $90.7M+1.9% | $89.0M-16.7% | $106.8M-1.5% | $108.4M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $7.0M-18.0% | $8.5M+14.1% | $7.5M+25.6% | $5.9M-10.3% | $6.6M+2.0% | $6.5M+6.8% | $6.1M+15.9% | $5.2M |
| Operating Income | $19.6M-5.5% | $20.7M-51.3% | $42.5M+715.0% | -$6.9M-131.6% | $21.9M+11.7% | $19.6M+314.8% | $4.7M-85.5% | $32.6M |
| Interest Expense | $6.1M+2.6% | $5.9M+17.9% | $5.0M+7.3% | $4.7M-19.6% | $5.8M+84.1% | $3.2M+31.1% | $2.4M+77.7% | $1.4M |
| Income Tax | $4.8M-38.7% | $7.8M+170.0% | $2.9M+162.1% | -$4.6M-376.4% | $1.7M-65.3% | $4.8M+9.6% | $4.4M-14.3% | $5.2M |
| Net Income | $14.5M-42.1% | $25.1M+155.6% | $9.8M+184.4% | -$11.6M-327.9% | $5.1M-68.6% | $16.2M-7.5% | $17.5M-2.3% | $18.0M |
| EPS (Diluted) | $0.11-42.1% | $0.19+171.4% | $0.07+177.8% | $-0.09-325.0% | $0.04-66.7% | $0.12-7.7% | $0.130.0% | $0.13 |
GRNT Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B+2.1% | $1.1B+1.6% | $1.1B+4.9% | $1.0B+4.6% | $990.5M+2.5% | $966.7M+4.3% | $927.1M+0.7% | $920.6M |
| Current Assets | $108.8M-0.1% | $109.0M-15.1% | $128.4M-5.1% | $135.2M-10.2% | $150.6M-10.8% | $168.9M+11.4% | $151.6M+47.9% | $102.5M |
| Cash & Equivalents | $11.8M+216.1% | $3.7M-76.8% | $16.1M+71.0% | $9.4M-32.0% | $13.8M-34.3% | $21.1M+96.5% | $10.7M+67.2% | $6.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $484.6M+4.8% | $462.5M+1.4% | $456.0M+13.7% | $401.1M+23.4% | $325.2M+11.1% | $292.7M+14.6% | $255.5M-5.5% | $270.4M |
| Current Liabilities | $77.0M-6.7% | $82.5M-23.1% | $107.2M+5.3% | $101.8M+51.2% | $67.3M+1.9% | $66.1M+6.5% | $62.1M-11.1% | $69.8M |
| Long-Term Debt | $300.0M+9.1% | $275.0M+10.0% | $250.0M+22.0% | $205.0M+24.2% | $165.0M+20.0% | $137.5M+25.0% | $110.0M+29.4% | $85.0M |
| Total Equity | $643.9M+0.2% | $642.5M+1.8% | $631.4M-0.6% | $635.4M-4.5% | $665.3M-1.3% | $674.0M+0.4% | $671.6M+3.3% | $650.2M |
| Retained Earnings | $22.2M+0.4% | $22.1M+92.9% | $11.5M-28.5% | $16.0M-66.1% | $47.4M-16.4% | $56.7M+3.4% | $54.8M+5.8% | $51.8M |
GRNT Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $77.8M-0.3% | $78.0M+2.6% | $76.1M+11.6% | $68.2M+6.2% | $64.2M-6.5% | $68.7M-23.9% | $90.2M+58.1% | $57.0M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$80.3M+20.2% | -$100.5M-0.5% | -$100.0M-29.6% | -$77.1M+5.4% | -$81.6M-14.9% | -$71.0M-1.2% | -$70.2M+6.1% | -$74.7M |
| Financing Cash Flow | $10.6M+4.3% | $10.1M-66.9% | $30.6M+745.2% | -$4.7M-146.7% | $10.1M-20.1% | $12.7M+180.9% | -$15.7M-268.9% | $9.3M |
| Dividends Paid | $14.4M+0.1% | $14.4M+0.2% | $14.4M0.0% | $14.4M0.0% | $14.4M+0.2% | $14.3M-1.1% | $14.5M-2.0% | $14.8M |
| Share Buybacks | $0 | $0-100.0% | $16K-33.3% | $24K | $0-100.0% | $418K-98.2% | $23.6M+299.3% | $5.9M |
GRNT Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 17.4%-1.6pp | 19.0%-15.6pp | 34.6%+41.1pp | -6.5%-30.6pp | 24.1%+2.1pp | 22.0%+17.6pp | 4.4%-25.7pp | 30.1% |
| Net Margin | 12.9%-10.1pp | 23.0%+15.0pp | 8.0%+18.9pp | -10.9%-16.6pp | 5.6%-12.6pp | 18.2%+1.8pp | 16.4%-0.1pp | 16.6% |
| Return on Equity | 2.3%-1.6pp | 3.9%+2.4pp | 1.6%+0.2pp | 1.4%+0.6pp | 0.8%-1.6pp | 2.4%-0.2pp | 2.6%-0.1pp | 2.8% |
| Return on Assets | 1.3%-1.0pp | 2.3%+1.4pp | 0.9%+2.0pp | -1.1%-1.6pp | 0.5%-1.2pp | 1.7%-0.2pp | 1.9%-0.1pp | 1.9% |
| Current Ratio | 1.41+0.1 | 1.32+0.1 | 1.20-0.1 | 1.33-0.9 | 2.24-0.3 | 2.55+0.1 | 2.44+1.0 | 1.47 |
| Debt-to-Equity | 0.47+0.0 | 0.43+0.0 | 0.40+0.1 | 0.32+0.1 | 0.25+0.0 | 0.20+0.0 | 0.16+0.0 | 0.13 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Granite Ridge Resources Inc's annual revenue?
Granite Ridge Resources Inc (GRNT) reported $380.0M in total revenue for fiscal year 2024. This represents a -3.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Granite Ridge Resources Inc's revenue growing?
Granite Ridge Resources Inc (GRNT) revenue declined by 3.6% year-over-year, from $394.1M to $380.0M in fiscal year 2024.
Is Granite Ridge Resources Inc profitable?
Yes, Granite Ridge Resources Inc (GRNT) reported a net income of $18.8M in fiscal year 2024, with a net profit margin of 4.9%.
What is Granite Ridge Resources Inc's earnings per share (EPS)?
Granite Ridge Resources Inc (GRNT) reported diluted earnings per share of $0.14 for fiscal year 2024. This represents a -77.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
How much debt does Granite Ridge Resources Inc have?
As of fiscal year 2024, Granite Ridge Resources Inc (GRNT) had $9.4M in cash and equivalents against $205.0M in long-term debt.
What is Granite Ridge Resources Inc's operating margin?
Granite Ridge Resources Inc (GRNT) had an operating margin of 15.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Granite Ridge Resources Inc's net profit margin?
Granite Ridge Resources Inc (GRNT) had a net profit margin of 4.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Granite Ridge Resources Inc pay dividends?
Yes, Granite Ridge Resources Inc (GRNT) paid $0.44 per share in dividends during fiscal year 2024.
What is Granite Ridge Resources Inc's return on equity (ROE)?
Granite Ridge Resources Inc (GRNT) has a return on equity of 2.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Granite Ridge Resources Inc's operating cash flow?
Granite Ridge Resources Inc (GRNT) generated $275.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Granite Ridge Resources Inc's total assets?
Granite Ridge Resources Inc (GRNT) had $1.0B in total assets as of fiscal year 2024, including both current and long-term assets.
Does Granite Ridge Resources Inc buy back shares?
Yes, Granite Ridge Resources Inc (GRNT) spent $442K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
What is Granite Ridge Resources Inc's current ratio?
Granite Ridge Resources Inc (GRNT) had a current ratio of 1.33 as of fiscal year 2024, which is considered adequate.
What is Granite Ridge Resources Inc's debt-to-equity ratio?
Granite Ridge Resources Inc (GRNT) had a debt-to-equity ratio of 0.32 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Granite Ridge Resources Inc's return on assets (ROA)?
Granite Ridge Resources Inc (GRNT) had a return on assets of 1.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Granite Ridge Resources Inc's Altman Z-Score?
Granite Ridge Resources Inc (GRNT) has an Altman Z-Score of 1.62, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Granite Ridge Resources Inc's Piotroski F-Score?
Granite Ridge Resources Inc (GRNT) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Granite Ridge Resources Inc's earnings high quality?
Granite Ridge Resources Inc (GRNT) has an earnings quality ratio of 14.70x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Granite Ridge Resources Inc cover its interest payments?
Granite Ridge Resources Inc (GRNT) has an interest coverage ratio of 3.2x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Granite Ridge Resources Inc?
Granite Ridge Resources Inc (GRNT) scores 48 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.