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 6 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).
Granite Ridge’s core mechanic is cash-rich operations paired with investment-heavy spending, leaving leverage to bridge the difference.
Across recent annual periods, operating cash flow stayed near$300M even as net margin compressed to5.4% , so reported profit became a weaker guide to the cash this asset base actually produces in a given year. That cash still was not enough for the company’s investment pace and shareholder payouts: investing outflows were$409.8M , and long-term debt climbed to$382.5M .
Selling and administrative costs reached
Current liquidity remains positive at 1.2x, but it has thinned materially, and cash on hand was only
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Granite Ridge Resources Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Granite Ridge Resources Inc has an operating margin of 10.3%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 54/100, indicating healthy but not exceptional operating efficiency. This is down from 15.6% the prior year.
Granite Ridge Resources Inc's revenue surged 18.5% year-over-year to $450.3M, reflecting rapid business expansion. This strong growth earns a score of 45/100.
Granite Ridge Resources Inc carries a low D/E ratio of 0.61, meaning only $0.61 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
Granite Ridge Resources Inc's current ratio of 1.25 is below the typical benchmark, resulting in a score of 20/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Granite Ridge Resources Inc generates a 4.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 23/100. This is up from 3.0% the prior year.
Granite Ridge Resources Inc scores 1.30, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($728.1M) relative to total liabilities ($562.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Granite Ridge Resources Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Granite Ridge Resources Inc generates $12.15 in operating cash flow ($296.4M OCF vs $24.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Granite Ridge Resources Inc earns $1.8 in operating income for every $1 of interest expense ($46.4M vs $25.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Granite Ridge Resources Inc generated $450.3M in revenue in fiscal year 2025. This represents an increase of 18.5% from the prior year.
Granite Ridge Resources Inc reported $24.4M in net income in fiscal year 2025. This represents an increase of 29.8% from the prior year.
Granite Ridge Resources Inc earned $0.18 per diluted share (EPS) in fiscal year 2025. This represents an increase of 28.6% from the prior year.
Cash & Balance Sheet
Granite Ridge Resources Inc held $14.8M in cash against $367.8M in long-term debt as of fiscal year 2025.
Granite Ridge Resources Inc paid $0.44 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
Granite Ridge Resources Inc's operating margin was 10.3% in fiscal year 2025, reflecting core business profitability. This is down 5.3 percentage points from the prior year.
Granite Ridge Resources Inc's net profit margin was 5.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.5 percentage points from the prior year.
Granite Ridge Resources Inc's ROE was 4.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.1 percentage points from the prior year.
Capital Allocation
Granite Ridge Resources Inc spent $16K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 96.4% from the prior year.
GRNT Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $128.3M+21.6% | $105.5M-6.4% | $112.7M+3.2% | $109.2M-11.2% | $122.9M+15.6% | $106.3M+13.0% | $94.1M+3.8% | $90.7M |
| 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 | $9.1M+12.9% | $8.0M+15.1% | $7.0M-18.0% | $8.5M+14.1% | $7.5M+25.6% | $5.9M+6.3% | $5.6M-15.6% | $6.6M |
| Operating Income | $14.8M+140.8% | -$36.4M-286.0% | $19.6M-5.5% | $20.7M-51.3% | $42.5M+715.0% | -$6.9M-128.0% | $24.7M+12.8% | $21.9M |
| Interest Expense | $10.3M+21.4% | $8.5M+40.1% | $6.1M+2.6% | $5.9M+17.9% | $5.0M+7.3% | $4.7M-3.0% | $4.8M-17.1% | $5.8M |
| Income Tax | -$13.6M-77.9% | -$7.7M-260.7% | $4.8M-38.7% | $7.8M+170.0% | $2.9M+162.1% | -$4.6M-207.1% | $4.3M+158.0% | $1.7M |
| Net Income | -$47.0M-88.0% | -$25.0M-272.3% | $14.5M-42.1% | $25.1M+155.6% | $9.8M+184.7% | -$11.6M-227.9% | $9.1M+77.5% | $5.1M |
| EPS (Diluted) | $-0.36 | N/A | $0.11-42.1% | $0.19+171.4% | $0.07 | N/A | $0.07+75.0% | $0.04 |
GRNT Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B+2.2% | $1.2B+3.5% | $1.1B+2.1% | $1.1B+1.6% | $1.1B+4.9% | $1.0B+0.1% | $1.0B+4.6% | $990.5M |
| Current Assets | $144.1M+21.2% | $118.9M+9.3% | $108.8M-0.1% | $109.0M-15.1% | $128.4M-5.1% | $135.2M+2.4% | $132.1M-12.3% | $150.6M |
| Cash & Equivalents | $30.1M+102.5% | $14.8M+25.5% | $11.8M+216.1% | $3.7M-76.8% | $16.1M+71.0% | $9.4M-59.2% | $23.1M+66.9% | $13.8M |
| 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 | $648.2M+15.3% | $562.3M+16.0% | $484.6M+4.8% | $462.5M+1.4% | $456.0M+13.7% | $401.1M+6.9% | $375.3M+15.4% | $325.2M |
| Current Liabilities | $155.7M+63.6% | $95.2M+23.7% | $77.0M-6.7% | $82.5M-23.1% | $107.2M+5.3% | $101.8M+20.5% | $84.5M+25.4% | $67.3M |
| Long-Term Debt | $400.0M+8.8% | $367.8M+22.6% | $300.0M+9.1% | $275.0M+10.0% | $250.0M+22.0% | $205.0M+5.1% | $195.0M+18.2% | $165.0M |
| Total Equity | $545.6M-9.9% | $605.8M-5.9% | $643.9M+0.2% | $642.5M+1.8% | $631.4M-0.6% | $635.4M-3.8% | $660.6M-0.7% | $665.3M |
| Retained Earnings | -$78.8M-355.7% | -$17.3M-177.8% | $22.2M+0.4% | $22.1M+92.9% | $11.5M-28.5% | $16.0M-61.8% | $42.1M-11.2% | $47.4M |
GRNT Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $58.3M-9.5% | $64.5M-17.1% | $77.8M-0.3% | $78.0M+2.6% | $76.1M+11.6% | $68.2M-8.7% | $74.7M+16.4% | $64.2M |
| 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 | -$68.6M+46.8% | -$129.0M-60.8% | -$80.3M+20.2% | -$100.5M-0.5% | -$100.0M-29.6% | -$77.1M+4.8% | -$81.1M+0.6% | -$81.6M |
| Financing Cash Flow | $25.5M-62.2% | $67.5M+539.4% | $10.6M+4.3% | $10.1M-66.9% | $30.6M+745.2% | -$4.7M-130.4% | $15.6M+53.9% | $10.1M |
| Dividends Paid | $14.5M+0.2% | $14.4M0.0% | $14.4M+0.1% | $14.4M+0.2% | $14.4M0.0% | $14.4M0.0% | $14.4M0.0% | $14.4M |
| Share Buybacks | $30K | $0 | $0 | $0-100.0% | $16K-33.3% | $24K | $0 | $0 |
GRNT Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 11.6%+46.1pp | -34.5%-51.9pp | 17.4%-1.6pp | 19.0%-15.6pp | 34.6%+41.1pp | -6.5%-32.8pp | 26.2%+2.1pp | 24.1% |
| Net Margin | -36.7%-13.0pp | -23.7%-36.6pp | 12.9%-10.1pp | 23.0%+15.0pp | 8.0%+18.9pp | -10.9%-20.5pp | 9.6%+4.0pp | 5.6% |
| Return on Equity | -8.6%-4.5pp | -4.1%-6.4pp | 2.3%-1.6pp | 3.9%+2.4pp | 1.6%+3.4pp | -1.8%-3.2pp | 1.4%+0.6pp | 0.8% |
| Return on Assets | -3.9%-1.8pp | -2.1%-3.4pp | 1.3%-1.0pp | 2.3%+1.4pp | 0.9%+2.0pp | -1.1%-2.0pp | 0.9%+0.4pp | 0.5% |
| Current Ratio | 0.93-0.3 | 1.25-0.2 | 1.41+0.1 | 1.32+0.1 | 1.20-0.1 | 1.33-0.2 | 1.56-0.7 | 2.24 |
| Debt-to-Equity | 0.73+0.1 | 0.61+0.1 | 0.47+0.0 | 0.43+0.0 | 0.40+0.1 | 0.32+0.0 | 0.30+0.0 | 0.25 |
| 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 $450.3M in total revenue for fiscal year 2025. This represents a 18.5% 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 grew by 18.5% year-over-year, from $380.0M to $450.3M in fiscal year 2025.
Is Granite Ridge Resources Inc profitable?
Yes, Granite Ridge Resources Inc (GRNT) reported a net income of $24.4M in fiscal year 2025, with a net profit margin of 5.4%.
How much debt does Granite Ridge Resources Inc have?
As of fiscal year 2025, Granite Ridge Resources Inc (GRNT) had $14.8M in cash and equivalents against $367.8M in long-term debt.
What is Granite Ridge Resources Inc's operating margin?
Granite Ridge Resources Inc (GRNT) had an operating margin of 10.3% in fiscal year 2025, 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 5.4% in fiscal year 2025, 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 2025.
What is Granite Ridge Resources Inc's return on equity (ROE)?
Granite Ridge Resources Inc (GRNT) has a return on equity of 4.0% for fiscal year 2025, 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 $296.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Granite Ridge Resources Inc's total assets?
Granite Ridge Resources Inc (GRNT) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Granite Ridge Resources Inc's current ratio?
Granite Ridge Resources Inc (GRNT) had a current ratio of 1.25 as of fiscal year 2025, 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 0.61 as of fiscal year 2025, 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 2.1% for fiscal year 2025, 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 1.30, 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 5 out of 9, indicating neutral 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 to 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 12.15x, 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 1.8x, meaning it can struggle to 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 39 out of 100 on our Financial Profile, indicating weak 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.