Comprehensive Stock Comparison
Compare Barnwell Industries, Inc. (BRN) vs Greenfire Resources Ltd. (GFR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | GFR | 17.0% revenue growth vs BRN's -36.9% |
| Quality / Margins | GFR | 27.7% net margin vs BRN's -53.1% |
| Stability / Safety | BRN | Beta 0.18 vs GFR's 0.94, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | GFR | -0.2% vs BRN's -21.9% |
| Efficiency (ROA) | GFR | 15.7% ROA vs BRN's -30.7%, ROIC 16.5% vs -61.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Barnwell Industries is an oil and gas exploration and production company with operations in Canada and land investments in Hawaii. It generates revenue primarily from oil and gas production in Alberta—roughly 70% of total revenue—with additional income from land investment activities and contract drilling services. The company's key advantage lies in its established land positions and operational expertise in Alberta's oil fields, though its small scale limits competitive moats.
Greenfire Resources is an oil sands producer that develops and operates thermal oil recovery projects in Alberta's Athabasca region using steam-assisted gravity drainage technology. It generates revenue primarily from bitumen sales — the heavy crude oil extracted from its SAGD operations — with production volumes directly tied to oil prices. The company's competitive advantage lies in its ownership of Tier-1 oil sands assets with established infrastructure and its expertise in efficient SAGD extraction methods.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
GFR leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). BRN leads in 2 (Valuation Metrics, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
GFR is the larger business by revenue, generating $731M annually — 58.7x BRN's $12M. GFR is the more profitable business, keeping 27.7% of every revenue dollar as net income compared to BRN's -53.1%. On growth, GFR holds the edge at -34.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | BRNBarnwell Industri… | GFRGreenfire Resourc… |
|---|---|---|
| RevenueTrailing 12 months | $12M | $731M |
| EBITDAEarnings before interest/tax | -$3M | $181M |
| Net IncomeAfter-tax profit | -$7M | $202M |
| Free Cash FlowCash after capex | -$607,000 | $22M |
| Gross MarginGross profit ÷ Revenue | +8.6% | +45.9% |
| Operating MarginEBIT ÷ Revenue | -50.9% | +12.7% |
| Net MarginNet income ÷ Revenue | -53.1% | +27.7% |
| FCF MarginFCF ÷ Revenue | -4.9% | +3.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | -40.2% | -34.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +31.6% | +60.5% |
Valuation Metrics
| Metric | BRNBarnwell Industri… | GFRGreenfire Resourc… |
|---|---|---|
| Market CapShares × price | $14M | $745M |
| Enterprise ValueMkt cap + debt − cash | $12M | $943M |
| Trailing P/EPrice ÷ TTM EPS | -1.65x | 4.78x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 433.58x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 4.00x |
| Price / SalesMarket cap ÷ Revenue | 1.04x | 1.29x |
| Price / BookPrice ÷ Book value/share | 1.63x | 0.71x |
| Price / FCFMarket cap ÷ FCF | — | 17.84x |
Profitability & Efficiency
GFR delivers a 22.8% return on equity — every $100 of shareholder capital generates $23 in annual profit, vs $-81 for BRN. BRN carries lower financial leverage with a 0.04x debt-to-equity ratio, signaling a more conservative balance sheet compared to GFR's 0.41x. On the Piotroski fundamental quality scale (0–9), GFR scores 6/9 vs BRN's 2/9, reflecting solid financial health.
| Metric | BRNBarnwell Industri… | GFRGreenfire Resourc… |
|---|---|---|
| ROE (TTM)Return on equity | -80.6% | +22.8% |
| ROA (TTM)Return on assets | -30.7% | +15.7% |
| ROICReturn on invested capital | -61.9% | +16.5% |
| ROCEReturn on capital employed | -27.5% | +23.1% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 6 |
| Debt / EquityFinancial leverage | 0.04x | 0.41x |
| Net DebtTotal debt minus cash | -$3M | $271M |
| Cash & Equiv.Liquid assets | $3M | $67M |
| Total DebtShort + long-term debt | $264,000 | $338M |
| Interest CoverageEBIT ÷ Interest expense | -991.14x | 4.50x |
Total Returns (with DRIP)
A $10,000 investment in GFR five years ago would be worth $5,505 today (with dividends reinvested), compared to $3,738 for BRN. Over the past 12 months, GFR leads with a -0.2% total return vs BRN's -21.9%. The 3-year compound annual growth rate (CAGR) favors GFR at -18.0% vs BRN's -21.4% — a key indicator of consistent wealth creation.
| Metric | BRNBarnwell Industri… | GFRGreenfire Resourc… |
|---|---|---|
| YTD ReturnYear-to-date | -0.9% | +23.5% |
| 1-Year ReturnPast 12 months | -21.9% | -0.2% |
| 3-Year ReturnCumulative with dividends | -51.5% | -44.9% |
| 5-Year ReturnCumulative with dividends | -62.6% | -44.9% |
| 10-Year ReturnCumulative with dividends | -6.5% | -44.9% |
| CAGR (3Y)Annualised 3-year return | -21.4% | -18.0% |
Risk & Volatility
BRN is the less volatile stock with a 0.18 beta — it tends to amplify market swings less than GFR's 0.94 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. GFR currently trades 96.1% from its 52-week high vs BRN's 50.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BRNBarnwell Industri… | GFRGreenfire Resourc… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.18x | 0.94x |
| 52-Week HighHighest price in past year | $2.28 | $6.18 |
| 52-Week LowLowest price in past year | $0.93 | $3.81 |
| % of 52W HighCurrent price vs 52-week peak | +50.0% | +96.1% |
| RSI (14)Momentum oscillator 0–100 | 50.2 | 54.5 |
| Avg Volume (50D)Average daily shares traded | 126K | 99K |
Analyst Outlook
| Metric | BRNBarnwell Industri… | GFRGreenfire Resourc… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy |
| Price TargetConsensus 12-month target | — | — |
| # AnalystsCovering analysts | — | 1 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 2 | 1 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Oct 23 | Feb 26 | Change |
|---|---|---|---|
| Barnwell Industries… (BRN) | 100 | 39.23 | -60.8% |
| Greenfire Resources… (GFR) | 49.03 | 49.49 | +0.9% |
Greenfire Resources… (GFR) returned -45% over 5 years vs Barnwell Industries… (BRN)'s -63%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Barnwell Industries… (BRN) | $13M | $14M | +3.1% |
| Greenfire Resources… (GFR) | $0.00 | $791M | — |
Barnwell Industries, Inc.'s revenue grew from $13M (2016) to $14M (2025) — a 0.3% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Barnwell Industries… (BRN) | -27.2% | -50.4% | -85.4% |
| Greenfire Resources… (GFR) | 13.2% | 15.3% | +16.4% |
Barnwell Industries, Inc.'s net margin went from -27% (2016) to -50% (2025).
Chart 4P/E Ratio History — 3 Years
| Stock | 2017 | 2022 | Change |
|---|---|---|---|
| Barnwell Industries… (BRN) | 14.9 | 5.2 | -65.1% |
Barnwell Industries, Inc. has traded in a 4x–15x P/E range over 3 years; current trailing P/E is ~-2x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Barnwell Industries… (BRN) | -0.44 | -0.69 | -56.8% |
| Greenfire Resources… (GFR) | -0.01 | 1.7 | +17808.3% |
Barnwell Industries, Inc.'s EPS grew from $-0.44 (2016) to $-0.69 (2025).
Chart 6Free Cash Flow — 5 Years
Barnwell Industries, Inc. generated $-5M FCF in 2025 (-348% vs 2021). Greenfire Resources Ltd. generated $57M FCF in 2024 (+109% vs 2021).
BRN vs GFR: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is BRN or GFR a better buy right now?
Greenfire Resources Ltd. (GFR) offers the better valuation at 4.8x trailing P/E (433.6x forward), making it the more compelling value choice. Analysts rate Greenfire Resources Ltd. (GFR) a "Buy" — based on 1 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — BRN or GFR?
Over the past 5 years, Greenfire Resources Ltd. (GFR) delivered a total return of -44.9%, compared to -62.6% for Barnwell Industries, Inc. (BRN). A $10,000 investment in GFR five years ago would be worth approximately $6K today (assuming dividends reinvested). Over 10 years, the gap is even starker: BRN returned -6.5% versus GFR's -44.9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — BRN or GFR?
By beta (market sensitivity over 5 years), Barnwell Industries, Inc. (BRN) is the lower-risk stock at 0.18β versus Greenfire Resources Ltd.'s 0.94β — meaning GFR is approximately 412% more volatile than BRN relative to the S&P 500. On balance sheet safety, Barnwell Industries, Inc. (BRN) carries a lower debt/equity ratio of 4% versus 41% for Greenfire Resources Ltd. — giving it more financial flexibility in a downturn.
04Which has better profit margins — BRN or GFR?
Greenfire Resources Ltd. (GFR) is the more profitable company, earning 15.3% net margin versus -50.4% for Barnwell Industries, Inc. — meaning it keeps 15.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GFR leads at 28.7% versus -39.1% for BRN. At the gross margin level — before operating expenses — GFR leads at 32.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — BRN or GFR?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is BRN or GFR better for a retirement portfolio?
For long-horizon retirement investors, Barnwell Industries, Inc. (BRN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.18)). Both have compounded well over 10 years (BRN: -6.5%, GFR: -44.9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between BRN and GFR?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: BRN is a small-cap quality compounder stock; GFR is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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