Granite Ridge Resources, Inc (GRNT) 10-Year Financial Performance & Capital Metrics

GRNT • • Industrial / General

EnergyOil & Gas E&PMineral & Royalty CompaniesRegional Royalty Focus

AboutGranite Ridge Resources, Inc. manages private funds with interests in areas of the Midland, Delaware, Bakken, Eagle Ford, DJ, and Haynesville play. It invests in oil and gas exploration and production. The company is based in Dallas, Texas.Show more

Revenue $380M -3.6%
EBITDA $236M -6.2%
Net Income $19M -76.9%
EPS (Diluted) 0.14 -77.0%
Gross Margin 31.59% -14.3%
EBITDA Margin 62.04% -2.7%
Operating Margin 15.59% -32.2%
Net Margin 4.94% -76.0%
ROE 2.87% -76.4%
ROIC 5.55% -43.5%
Debt/Equity 0.32 +97.0%
Interest Coverage 3.21 -81.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.4%
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 2.2% through buybacks
✓Healthy 5Y average net margin of 17.6%
✓Trading at only 0.9x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 17 (bottom 17%)
✗Dividend payout exceeds 100% of earnings
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y9.41%

TTM18.56%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-44.28%

TTM-21.13%

EPS CAGR

10Y-

5Y-

3Y-44.52%

TTM-20.43%

ROCE

10Y Avg18.43%

5Y Avg18.43%

3Y Avg22.62%

Latest6.59%

Peer Comparison

Regional Royalty Focus

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CKXCKX Lands, Inc.	18.87M	9.19	76.58	2.39%	52.94%	2.52%	1.09%
GRNTGranite Ridge Resources, Inc	599.82M	4.57	32.64	-3.56%	8.38%	5.87%		0.32
VTSVitesse Energy, Inc.	764.19M	19.76	30.88	3.46%	7.7%	3.21%	5.19%	0.24
NRTNorth European Oil Royalty Trust	78.21M	8.51	15.47	-73.55%	87.18%	302.5%	7.49%

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	87.1M	290.19M	497.42M	394.07M	380.03M
Revenue Growth %	-	2.33%	0.71%	-0.21%	-0.04%
Cost of Goods Sold+	107.01M	139.06M	181.05M	248.89M	260M
COGS % of Revenue	1.23%	0.48%	0.36%	0.63%	0.68%
Gross Profit+	-19.91M	151.13M	316.37M	145.18M	120.03M
Gross Margin %	-0.23%	0.52%	0.64%	0.37%	0.32%
Gross Profit Growth %	-	8.59%	1.09%	-0.54%	-0.17%
Operating Expenses+	15.19M	7.9M	14.22M	54.59M	60.78M
OpEx % of Revenue	0.17%	0.03%	0.03%	0.14%	0.16%
Selling, General & Admin	10.11M	10.18M	14.22M	27.92M	24.65M
SG&A % of Revenue	0.12%	0.04%	0.03%	0.07%	0.06%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	5.08M	-2.28M	0	26.67M	36.13M
Operating Income+	-35.09M	143.23M	302.14M	90.59M	59.26M
Operating Margin %	-0.4%	0.49%	0.61%	0.23%	0.16%
Operating Income Growth %	-	5.08%	1.11%	-0.7%	-0.35%
EBITDA+	44.85M	237.89M	407.9M	251.25M	235.78M
EBITDA Margin %	0.51%	0.82%	0.82%	0.64%	0.62%
EBITDA Growth %	-	4.3%	0.71%	-0.38%	-0.06%
D&A (Non-Cash Add-back)	79.95M	94.66M	105.75M	160.66M	176.53M
EBIT	-22.09M	110.84M	277.18M	110.9M	43.44M
Net Interest Income+	-1.84M	-2.38M	-1.99M	-5.32M	-18.47M
Interest Income	0	0	0	0	0
Interest Expense	1.84M	2.38M	1.99M	5.32M	18.47M
Other Income/Expense	11.16M	-34.77M	-26.95M	14.99M	-34.29M
Pretax Income+	-23.93M	108.46M	275.19M	105.58M	24.97M
Pretax Margin %	-0.27%	0.37%	0.55%	0.27%	0.07%
Income Tax+	0	0	12.85M	24.48M	6.21M
Effective Tax Rate %	1%	1%	0.95%	0.77%	0.75%
Net Income+	-23.93M	108.46M	262.34M	81.1M	18.76M
Net Margin %	-0.27%	0.37%	0.53%	0.21%	0.05%
Net Income Growth %	-	5.53%	1.42%	-0.69%	-0.77%
Net Income (Continuing)	-23.93M	108.46M	262.34M	81.1M	18.76M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	-0.18	0.82	1.97	0.61	0.14
EPS Growth %	-	5.56%	1.4%	-0.69%	-0.77%
EPS (Basic)	-0.18	0.82	1.97	0.61	0.14
Diluted Shares Outstanding	133.29M	132.92M	133.07M	133.11M	130.23M
Basic Shares Outstanding	133.29M	132.92M	132.92M	133.09M	130.19M
Dividend Payout Ratio	-	0.47%	0.04%	0.72%	3.06%

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	20.38M	98.08M	146.32M	151.55M	135.22M
Cash & Short-Term Investments	2.64M	11.85M	50.83M	60.86M	41.2M
Cash Only	2.64M	11.85M	50.83M	10.43M	9.42M
Short-Term Investments	0	0	0	50.43M	31.78M
Accounts Receivable	9.5M	47.3M	72.29M	72.93M	69.69M
Days Sales Outstanding	39.81	59.49	53.04	67.55	66.94
Inventory	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-
Other Current Assets	8.24M	1.11M	14.29M	12.83M	4.37M
Total Non-Current Assets+	172.48M	449.17M	648.46M	775.55M	901.26M
Property, Plant & Equipment	172.48M	448.77M	644.99M	769.54M	896.97M
Fixed Asset Turnover	0.50x	0.65x	0.77x	0.51x	0.42x
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	0
Long-Term Investments	0	31K	0	0	0
Other Non-Current Assets	0	362K	3.47M	6.01M	4.29M
Total Assets+	192.86M	547.25M	794.78M	927.1M	1.04B
Asset Turnover	0.45x	0.53x	0.63x	0.43x	0.37x
Asset Growth %	-	1.84%	0.45%	0.17%	0.12%
Total Current Liabilities+	4.03M	67.6M	64.13M	62.08M	101.81M
Accounts Payable	0	0	0	20.04M	26.44M
Days Payables Outstanding	-	-	-	29.38	37.12
Short-Term Debt	0	50M	0	0	0
Deferred Revenue (Current)	0	0	0	0	0
Other Current Liabilities	213.09K	17.6M	1.95M	1.2M	75.37M
Current Ratio	5.05x	1.45x	2.28x	2.44x	1.33x
Quick Ratio	5.05x	1.45x	2.28x	2.44x	1.33x
Cash Conversion Cycle	-	-	-	-	-
Total Non-Current Liabilities+	10.4M	4.72M	66.4M	193.38M	299.32M
Long-Term Debt	9.9M	1.1M	0	110M	205M
Capital Lease Obligations	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	503.54K	3.62M	66.4M	83.38M	94.32M
Total Liabilities	14.43M	72.32M	130.53M	255.46M	401.13M
Total Debt+	9.9M	51.1M	0	110M	205M
Net Debt	7.26M	39.25M	-50.83M	99.57M	195.58M
Debt / Equity	0.06x	0.11x	-	0.16x	0.32x
Debt / EBITDA	0.22x	0.21x	-	0.44x	0.87x
Net Debt / EBITDA	0.16x	0.16x	-0.12x	0.40x	0.83x
Interest Coverage	-19.06x	60.06x	151.91x	17.04x	3.21x
Total Equity+	178.43M	474.93M	664.25M	671.64M	635.35M
Equity Growth %	-	1.66%	0.4%	0.01%	-0.05%
Book Value per Share	1.34	3.57	4.99	5.05	4.88
Total Shareholders' Equity	178.43M	474.93M	664.25M	671.64M	635.35M
Common Stock	178.43M	0	13K	14K	14K
Retained Earnings	0	0	32.39M	54.78M	16.05M
Treasury Stock	0	0	-229K	-36.33M	-36.18M
Accumulated OCI	0	474.93M	0	0	0
Minority Interest	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	66.81M	181.18M	346.39M	302.87M	275.73M
Operating CF Margin %	0.77%	0.62%	0.7%	0.77%	0.73%
Operating CF Growth %	-	1.71%	0.91%	-0.13%	-0.09%
Net Income	-23.93M	108.46M	262.34M	81.1M	18.76M
Depreciation & Amortization	79.95M	94.71M	105.75M	160.66M	3.54M
Stock-Based Compensation	0	0	0	2.16M	2.3M
Deferred Taxes	0	0	12.85M	24.27M	5.96M
Other Non-Cash Items	4.09M	4.9M	-17.32M	30.03M	244.32M
Working Capital Changes	6.7M	-26.89M	-17.24M	4.64M	860K
Change in Receivables	5.53M	-28.6M	-24.99M	-743K	3.47M
Change in Inventory	0	0	0	0	0
Change in Payables	0	0	0	0	0
Cash from Investing+	-116.74M	-186.02M	-230.56M	-356.68M	-310.77M
Capital Expenditures	-117.39M	-219.29M	-49.19M	-76.81M	0
CapEx % of Revenue	1.35%	0.76%	0.1%	0.19%	0.91%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	647K	33.26M	-179.47M	-279.87M	-316.81M
Cash from Financing+	52.07M	8.49M	-76.85M	13.41M	33.72M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	-51.09M	-10.66M	-58.59M	-57.49M
Share Repurchases	-	-	-	-	-
Other Financing	70.07M	46.98M	-21.69M	-2.66M	-3.34M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-50.58M	-38.1M	111.7M	-56.33M	-71.26M
FCF Margin %	-0.58%	-0.13%	0.22%	-0.14%	-0.19%
FCF Growth %	-	0.25%	3.93%	-1.5%	-0.26%
FCF per Share	-0.38	-0.29	0.84	-0.42	-0.55
FCF Conversion (FCF/Net Income)	-2.79x	1.67x	1.32x	3.73x	14.70x
Interest Paid	1.26M	1.64M	2.29M	4.83M	14.47M
Taxes Paid	0	0	98K	742K	197K

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-13.41%	33.2%	46.06%	12.14%	2.87%
Return on Invested Capital (ROIC)	-	30.7%	40.19%	9.81%	5.55%
Gross Margin	-22.86%	52.08%	63.6%	36.84%	31.59%
Net Margin	-27.47%	37.37%	52.74%	20.58%	4.94%
Debt / Equity	0.06x	0.11x	-	0.16x	0.32x
Interest Coverage	-19.06x	60.06x	151.91x	17.04x	3.21x
FCF Conversion	-2.79x	1.67x	1.32x	3.73x	14.70x
Revenue Growth	-	233.18%	71.41%	-20.78%	-3.56%

Revenue by Segment

	2022	2023	2024
Oil and Gas Service	-	317.1M	327.49M
Oil and Gas Service Growth	-	-	3.28%
Natural Gas, Storage	-	76.97M	52.54M
Natural Gas, Storage Growth	-	-	-31.74%
Oil	338.16M	-	-
Oil Growth	-	-	-
Natural Gas	159.25M	-	-
Natural Gas Growth	-	-	-

Revenue by Geography

	2022	2023	2024
Permian	266.86M	237.73M	238.05M
Permian Growth	-	-10.91%	0.14%

Frequently Asked Questions

Valuation & Price

Granite Ridge Resources, Inc (GRNT) has a price-to-earnings (P/E) ratio of 32.6x. This suggests investors expect higher future growth.

Growth & Financials

Granite Ridge Resources, Inc (GRNT) reported $451.1M in revenue for fiscal year 2024. This represents a 418% increase from $87.1M in 2020.

Granite Ridge Resources, Inc (GRNT) saw revenue decline by 3.6% over the past year.

Yes, Granite Ridge Resources, Inc (GRNT) is profitable, generating $37.8M in net income for fiscal year 2024 (4.9% net margin).

Dividend & Returns

Yes, Granite Ridge Resources, Inc (GRNT) pays a dividend with a yield of 9.66%. This makes it attractive for income-focused investors.

Granite Ridge Resources, Inc (GRNT) has a return on equity (ROE) of 2.9%. This is below average, suggesting room for improvement.

Granite Ridge Resources, Inc (GRNT) had negative free cash flow of $91.7M in fiscal year 2024, likely due to heavy capital investments.

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