Latest Ratios: P/E Ratio 12.7x · EV/EBITDA 9.5x · ROE 4.7%. (2020–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $416M | $345M | $506M | $265M | — | — | — |
| Enterprise Value | $390M | $309M | $776M | $545M | — | — | — |
| P/E Ratio → | 12.73 | 7.44 | 4.15 | — | — | — | — |
| P/S Ratio | 1.03 | 0.60 | 0.64 | 0.39 | — | — | — |
| P/B Ratio | 0.51 | 0.30 | 0.62 | 0.38 | — | — | — |
| P/FCF | 24.32 | 14.23 | 8.85 | 4.98 | — | — | — |
| P/OCF | 4.40 | 2.57 | 3.50 | 3.06 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.54 | 0.98 | 0.81 | — | — | — |
| EV / EBITDA | 9.52 | 5.31 | 2.41 | 54.07 | — | — | — |
| EV / EBIT | 9.52 | 5.31 | 6.54 | — | — | — | — |
| EV / FCF | — | 12.75 | 13.59 | 10.26 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 14.6% | 14.6% | 32.6% | 41.3% | 51.3% | — | — |
| Operating Margin | 10.1% | 10.1% | 28.7% | -8.6% | 27.1% | — | — |
| Net Profit Margin | 8.1% | 8.1% | 15.3% | -20.1% | 13.2% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 4.7% | 4.7% | 16.0% | -17.7% | 17.1% | -0.2% | — |
| ROA | 3.7% | 3.7% | 10.0% | -11.6% | 11.4% | -0.1% | — |
| ROIC | 3.9% | 3.9% | 16.5% | -4.3% | 20.0% | -0.1% | — |
| ROCE | 5.5% | 5.5% | 23.1% | -5.6% | 27.5% | -0.1% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.41 | 0.56 | 0.30 | 0.46 | — |
| Debt / EBITDA | 0.10 | 0.10 | 1.05 | 38.69 | 0.75 | — | — |
| Net Debt / Equity | — | -0.03 | 0.33 | 0.40 | 0.26 | 0.38 | — |
| Net Debt / EBITDA | -0.62 | -0.62 | 0.84 | 27.83 | 0.65 | — | — |
| Debt / FCF | — | -1.48 | 4.74 | 5.28 | 1.76 | 9.66 | — |
| Interest Coverage | 0.78 | 0.78 | 2.45 | -1.49 | 1.58 | -0.03 | — |
Net cash position: cash ($42M) exceeds total debt ($6M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.56 | 1.56 | 0.43 | 1.26 | 0.90 | 0.71 | — |
| Quick Ratio | 1.34 | 1.34 | 0.38 | 1.15 | 0.80 | 0.62 | — |
| Cash Ratio | 0.44 | 0.44 | 0.20 | 0.84 | 0.26 | 0.31 | — |
| Asset Turnover | — | 0.45 | 0.63 | 0.58 | 0.85 | — | — |
| Inventory Turnover | 23.78 | 23.78 | 35.65 | 28.60 | 33.37 | 8.25 | — |
| Days Sales Outstanding | — | 42.14 | 21.88 | 12.12 | 8.20 | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 22.5% | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.9% | 13.4% | 24.1% | — | — | — | — |
| FCF Yield | 4.1% | 7.0% | 11.3% | 20.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 15.7% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 38.1% | — | — | — |
| Shares Outstanding | — | $72M | $72M | $54M | $69M | $38M | $38M |
Liquidity and commodity exposure
According to current market data, Greenfire Resources trades at a P/S ratio of 1.01, which appears to discount the company's recent revenue contraction and the inherent volatility of its single-asset production profile compared to more diversified, larger-scale Canadian oil sands producers in the current market environment.
The P/FCF multiple of 23.93 suggests that investors are pricing in a significant recovery in cash generation that is not currently supported by the company's recent negative free cash flow margins. This valuation appears to reflect a 'wait and see' approach, as the market balances the company's low debt profile against the immediate risks of operational cash burn.
Based on reported financial statements, Greenfire Resources' ROIC has trended downward to 0.5% in 2026Q1, signaling a sharp decay in the company's ability to generate returns on its invested capital as the Hangingstone assets face increasing margin pressure and rising operational costs in the current cycle.
The decline from a 4.1% ROIC in 2024Q2 highlights the difficulty of maintaining efficient capital deployment when commodity prices and input costs move against the company. This trend warrants further investigation into whether the current capital intensity is sufficient to sustain long-term reservoir performance or if it merely reflects a struggle to maintain existing production levels.
As evidenced by the company's recent filings, the cash conversion cycle has shifted into positive territory at 1 day in 2026Q1, a notable departure from the negative cycles observed in 2025, suggesting that the company is losing its ability to leverage supplier credit to manage its working capital needs.
The increase in DSO to 46 days indicates a potential slowdown in collections, which, when combined with the depletion of cash reserves, creates a tightening liquidity trap. Investors should monitor whether this efficiency decline is a temporary operational hiccup or a structural shift in the company's ability to manage its trade payables and receivables effectively.
According to the 2026Q1 balance sheet, Greenfire Resources' current ratio has fallen to 0.66, indicating that the company's short-term assets are no longer sufficient to cover its immediate liabilities, a significant deterioration from the 1.56 ratio reported just two quarters prior in the company's financial disclosures.
This liquidity position appears increasingly vulnerable, as the quick ratio of 0.54 leaves little room for error should commodity prices remain depressed or operational costs spike. The company's reliance on its limited cash reserves to fund ongoing operations suggests that its financial flexibility is currently constrained, necessitating a potential reliance on external financing if cash flow does not improve.
While the company's 0.01% debt-to-equity ratio is often cited as a sign of financial strength, this metric obscures the reality that Greenfire Resources is currently burning through its remaining cash reserves, making the lack of debt a potential liability rather than a sign of a fortress balance sheet.
Investors frequently misapply the debt-to-equity ratio to this business model by ignoring the massive Asset Retirement Obligations and the high fixed-cost nature of SAGD operations. A more appropriate metric would be the 'cash-to-burn' ratio or 'net debt to EBITDA' adjusted for the high sustaining capital requirements, which would better reflect the company's actual financial runway.
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Quick answers to the most common questions about buying GFR stock.
Greenfire Resources Ltd.'s current P/E ratio is 12.7x. The historical average is 5.8x. This places it at the 100th percentile of its historical range.
Greenfire Resources Ltd.'s current EV/EBITDA is 9.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.6x.
Greenfire Resources Ltd.'s return on equity (ROE) is 4.7%. The historical average is 4.0%.
Based on historical data, Greenfire Resources Ltd. is trading at a P/E of 12.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Greenfire Resources Ltd. has 14.6% gross margin and 10.1% operating margin. Operating margin between 10-20% is typical for established companies.
Greenfire Resources Ltd.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.